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    Govt appoints ex-diplomat Akbaruddin, 2 other new members to RBI central board
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August 24, 2026
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Central Board Governance expands through appointments of part-time non-official directors for defined terms, alongside central bank and government representatives.
Appointments to the Reserve Bank of India's Central Board expand its part-time, non-official director membership. Syed Akbaruddin, Annie George Mathew and Janmejaya Kumar Sinha have been appointed for four years from 24 August 2026, or until further orders, whichever occurs earlier. The Central Board also includes the Governor, deputy governors, the economic affairs secretary and the financial services secretary.
August 24, 2026
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Electricity tariff adjustment is linked to inflation and transmission losses, while free household units remain separately implemented.
Electricity tariff increase of 6.83 per cent after four years is presented as necessary in light of inflation and rising costs. Reducing transmission and distribution losses is identified as a means of limiting future tariff increases. Provision of 200 units of free electricity for poor and needy households through solar panels under the Muft Bijli Yojana is treated as distinct from tariff revisions.
August 24, 2026
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Sugar supply management measures target speculative stockpiling through imports, stockholding limits and earlier crushing to moderate prices.
Sugar supply is characterised as adequate, and higher prices are attributed principally to speculative buying and advance stockpiling, alongside lower output, seasonal demand and global price pressures rather than an actual shortage. Duty-free raw sugar imports and stockholding limits are intended to augment availability, curb speculative accumulation and stabilise market sentiment. Imports, existing stocks, special crushing and an earlier crushing season are expected to moderate prices and improve festive-period supply. Ethanol diversion is not identified as a cause of the price movement.
August 24, 2026
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Wheat export policy shifts to free trade, lifting restrictions on wheat flour, maida, semolina and wholemeal atta exports.
Wheat export policy has been revised from prohibited to free with immediate effect, lifting the export ban on wheat and related wheat products. The liberalised export treatment extends to wheat flour, maida, semolina and wholemeal atta. The restriction had been imposed to address rising domestic prices, and its removal is expected to improve international wheat availability.
August 24, 2026
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Bogus input tax credit fraud investigation examines fabricated invoices, circular transactions, layered funds and alleged proceeds of crime.
Investigation into alleged bogus input tax credit fraud involved searches under the anti-money-laundering framework. The alleged scheme involved fabricated invoices and e-way bills without actual movement of goods, circular transactions, layered funds, cash withdrawals and bogus or non-existent entities. GST authorities identified fraudulent availment of input tax credit causing wrongful loss to the government exchequer. The investigation focused on tracing alleged proceeds of crime, identifying beneficiaries, and securing documentary and digital evidence.
August 24, 2026
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Sugar crystallization process integration combines evaporator upgrades, continuous boiling, heat recovery and automation for efficient plantation white sugar production.
Sugar manufacturing process integration is proposed through strengthening an existing evaporator station and adding a sugar crystallization section to convert syrup production into plantation white sugar production. The scope covers design, engineering, equipment supply, erection and commissioning of condensate heaters, falling film evaporators, heat-recovery systems, continuous pans, vacuum systems and crystallizers. Continuous massecuite boiling will use chamber-specific control, while evaporator recirculation and online chemical-cleaning provisions support process control and low-grade vapour utilisation.
August 24, 2026
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Competitive examination preparation supports career pathways in civil services, public employment, management, defence, research and international higher education.
Career-development and competitive-examination preparation is offered alongside academic programmes for civil services, government and public-sector employment, banking, engineering higher education, management, defence, teaching, research and overseas education. UPSC, SSC-CGL, Bank PO, GATE, CAT, CDS, UGC-NET, GRE, GMAT and IELTS preparation includes courses, workshops, mentorship, expert guidance and examination-specific resources. Access to examinations, admissions and career opportunities remains subject to applicable eligibility, selection and institutional criteria.
August 24, 2026
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Corporate governance professionals gain expanded training infrastructure as Hyderabad's new Chapter Office supports Company Secretaries and students.
Institute of Company Secretaries of India has inaugurated a Chapter Office in Hyderabad to expand infrastructure for professional education, training, examinations, meetings, capacity-building programmes and stakeholder engagement. The facility is intended to support Company Secretaries and students and enable wider professional and educational activities. Company Secretaries are identified as corporate governance professionals, with expanding regulatory requirements and the formalisation and listing of micro, small and medium enterprises creating potential demand for qualified professionals.
August 24, 2026
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Diversified pharmaceutical growth combines branded portfolio expansion, contract manufacturing, merchant exports, and regulatory registrations for international market development.
Curis Lifesciences Limited plans a diversified pharmaceutical strategy spanning domestic branded products, contract manufacturing and international market development. Its majority acquisition of Uninova Lifesciences is intended to strengthen own-brand marketing, distribution and portfolio expansion, including injectable products through third-party manufacturing. International initiatives include merchant exports in Kenya and a Nigerian joint venture pursuing own-brand regulatory registrations alongside contract-manufacturing and export opportunities. Commercial development in Nigeria remains contingent on relevant licences and purchase orders, while projections are subject to regulatory, market and other business factors.
August 24, 2026
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Insolvency framework reform prioritises efficient resolution, value maximisation, stakeholder coordination, institutional strengthening and technology-enabled asset recovery.
Insolvency and Bankruptcy Code, 2016, entered its tenth year amid deliberations on legislative amendments, resolution timelines, stakeholder interests and value maximisation. Key areas included resolution plans and tax implications, liquidation processes, recent judicial developments, stakeholder coordination, and the roles of insolvency professionals, regulators, banking institutions and adjudicatory processes. Technological innovation, including artificial intelligence for asset tracing and recovery, alongside regulatory strengthening, capacity building and stakeholder collaboration, was emphasised for the future development of the insolvency ecosystem.
August 24, 2026
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Bilateral economic and financial cooperation will advance through investment dialogues, business engagement, financial-sector partnerships, and global economic discussions.
Official visits to Canada and the United States are scheduled to strengthen bilateral economic and financial partnerships, deepen investment linkages, and advance cooperation on global economic priorities. Engagements include an Economic and Financial Dialogue, investment and business roundtables, corporate meetings, and discussions on financial-sector cooperation, technology, innovation, critical minerals, resilient supply chains, and a Comprehensive Economic Partnership Agreement. Participation in the G20 Finance Ministers and Central Bank Governors Meeting will address global economic growth, stability, and international financial cooperation.
August 24, 2026
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Interoperable real-time payments enable inclusive retail transactions, bank participation, and cross-border digital payment expansion through UPI.
Unified Payments Interface (UPI) operates as an interoperable, real-time digital payments platform for peer-to-peer and person-to-merchant transactions. Its network includes varied banking institutions acting as remitter and beneficiary payment service providers, with performance monitoring across participants. Person-to-merchant payments drive transaction volume through routine small-ticket retail use, while person-to-person payments represent a larger share of transaction value. UPI also supports cross-border digital payments, with future growth linked to technological advancement, broader adoption, policy support, and financial inclusion.
August 24, 2026
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Service Producer Price Indices track quarterly price movements across financial, transport, telecom and insurance services using sub-service weights.
Service Producer Price Indices based on 2022-23 set out provisional first-quarter estimates for FY 2026-27 and final fourth-quarter estimates for FY 2025-26 across financial, insurance, telecom, railway and air-passenger services. Latest quarterly data show negative year-on-year inflation for securities transaction and banking services, while banking service contribution, pension-fund management, insurance, telecom and railway services record positive inflation. Aggregate weights are not assigned because the covered services do not represent the entire service sector; sub-service weights are used to derive service-level PPIs.
August 24, 2026
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Food safety cooperation supports imported-food quality information exchange and technical collaboration within broader bilateral economic and trade engagement.
India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.
August 24, 2026
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Foreign-exchange market conditions pressured the rupee as dollar strength, crude concerns and geopolitical uncertainty shaped narrow USD/INR trading.
Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.
August 24, 2026
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Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
HSBC India's branch expansion is directed at extending wealth, international banking, and corporate banking services to affluent, high-net-worth, ultra-high-net-worth, and non-resident Indian customers in emerging commercial centres. The Nashik opening forms part of a broader branch-expansion programme undertaken after Reserve Bank of India approval to establish additional branches in key cities. The programme is intended to expand delivery of banking and financial services, including support for cross-border wealth management, overseas investment by Indian companies, and foreign investment into India.
August 24, 2026
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Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
August 24, 2026
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Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
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Five-day banking and uniform performance incentives drive proposed bank union action over unresolved pension and employment demands.
Banking labour relations are affected by proposed nationwide industrial action over five-day banking, performance-linked incentives, and pension-related demands. Five-day banking remains pending despite a bipartite arrangement for extended weekday hours. Unions dispute an incentive scheme that differentiates awards by seniority and individual performance, contending that it departs from bank-level performance linkage and uniformity across cadres. They also allege that implementation during pending conciliation breaches a status quo obligation, while pension revision, uniform dearness allowance, and a pension-scheme switch option remain unresolved.
August 24, 2026
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Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.

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'Seems to have missed the ball': Tharoor's cricketing analogy to slam Budget

February 1, 2026

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New Delhi, Feb 1 (PTI) Senior Congress leader Shashi Tharoor on Sunday used a cricketing analogy to express his disappointment with the Union Budget, saying Finance Minister Nirmala Sitharaman "seems to have missed the ball".

In an interview with PTI at the news agency's headquarters, Tharoor said Sitharaman's Budget speech seemed to have "lots of subheadings but very few specifics", and was "completely short" of an overall vision.

As a Kerala MP, Tharoor said, he had nothing to be happy about in this Budget.

Tharoor asserted that the biggest unanswered question remains jobs, noting that there was little in the Budget speech to indicate how employment would be generated.

Asked whether the finance minister has "hit it out of the park" or "missed the ball completely and been stumped", Tharoor said, "I don't know if she's been stumped yet, but she certainly seems to have missed the ball. In one or two places, she may have got edges, but I'm not quite sure that we've got anything off the meat of the bat so far." Noting that it was a fairly short Budget speech, Tharoor said it seemed to have lots of subheadings but very few specifics.

"On the big-picture issues, there was nothing that we could hear for the middle class and the lower middle class. There was nothing there for the states. In fact, fiscal devolution remains unchanged at 41 per cent, and many states have complained that they don't have enough to fulfil their own obligations to their citizens," the former Union minister said, adding that there was "genuine concern" over it.

He claimed that there were very few details on key aspects, such as what would be set up and where and cited Kerala as an example, saying the state has been waiting nearly 15 years for an All India Institute of Medical Sciences, but no announcement was made.

"There was a reference to an All India Institute of Ayurveda being established, but not any indication as to where. Kerala would imagine that, as a major centre of Ayurveda, it should be a logical place, but they haven’t promised us that," the Thiruvananthapuram MP said.

In fact, Kerala was only mentioned in the context of rare earths and the turtle trail, he said.

"Even when coconuts and cashews were talked about, the state wasn’t mentioned. So, I am assuming that some of these subheadings she spoke about will translate into concrete projects and programmes for us....but where details came, we had reason for disappointment, for example, ship repair for inland waterways, they are parking them in Varanasi and Patna despite Kerala having so many rivers and inland waterways," he said.

"I have a lot of these questions and concerns about that, and on the larger issue of where the country is heading, the biggest question remains jobs. There was little saying that we will generate jobs through this or that," Tharoor said.

He claimed that the speech was completely short of an overall vision.

"What was it supposed to be about -- whether it is supposed to be proclaiming a new reform era? It did not do that. Was it supposed to be performing some sort of belt-tightening? It did not say that. What was it about... it was a series of subheadings, but there was no clear unifying vision," the Congress leader said.

Criticising the Budget, Tharoor said welfare measures were not specified, except for the reference to the Mahatma Gandhi Gram Swaraj Yojana.

"What is interesting is that they took away Mahatma Gandhi’s name from the Rural Employment Guarantee Scheme and applied it to another alleged village development scheme. I’d like to see what exactly comes out of it and what kind of allocations it has," he said.

"Some of these conversations perhaps need to await the full budget document," he added.

Tharoor also asked why there was no clarity given on whether the G RAM G Act would be given adequate financing. He said he was surprised not to hear his state mentioned more often in the Budget speech.

"It was also short on the kind of couplets from Thiruvalluvar we got used to hearing not only from Nirmala ji but even from the prime minister and other leaders, the vice president and others who used to love quoting Thiruvalluvar. Here's an election opportunity in Tamil Nadu, a few months away. No Thiruvalluvar in the speech. I was surprised," he said, taking a swipe at the government.

Normally, there is one big headline coming out of the Budget speech, like last year, it was tax, it was fiscal consolidation before that, but it was not the case this time, he said.

Asked about concerns surrounding India’s trade, particularly in the context of the deal not being sealed with the US as well as tariff issues, Tharoor said, "Well, the US was our largest market, and that market has certainly been affected by the 50 per cent tariffs.

"People have done various workarounds... I don’t know at this stage, unless some kind of accommodation can be found with the Americans, whether we will be able to recapture the chunk of the American market that we have lost." Tharoor said, conversely, the European Union could emerge as India's next biggest market. While there is much to be enthusiastic about in the deal that was announced, he cautioned that it has not yet come into force.

"I had understood that all 27 countries of the European Union need to ratify it. I see the commerce minister has made a statement, saying that it is not necessary. I think we will have to wait to hear from the Europeans as to when and how this can come into force," Tharoor added. PTI ASK RHL

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