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    ED raids multiple locations in Kolkata in bank loan fraud case
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September 3, 2026
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
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Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
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Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
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Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
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Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
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Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
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Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.

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Market Trends Indicate a Turning Point for Bitcoin Mining Hardware in India

February 23, 2026

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In the last few years, the concept of a cryptocurrency miner India was mainly restricted to a select group of enthusiasts and early adopters. The situation is evolving as more investors, technologists as well as small-scale businesses are exploring the possibility of bitcoin mining india as part of a wider plan for digital assets. However the market data indicates that India's part of the mining hardware demands around the world has increased from a low beginning and is one of the fastest-growing segments of Asia. This change is driven by greater connectivity, less expensive hardware per terahash and the gradual transition from experimental installations to more professional power-aware home and data centre deployments.

In India, the Expanding Digital Infrastructure The digital infrastructure of India has grown rapidly, with data centers as well as fiber networks and cloud platforms growing across the major cities as well as the developing tech hubs. These upgrades are quietly supporting the crypto mining infrastructure in India due to the fact that solid connectivity and steady power are essential for any serious mining venture.

Private data-centres and government-backed constructions are also tied to larger infrastructure investments in India specifically in connectivity and power. As AI 5G, AI and cloud-based workloads increase and demand for planning, the planners have to consider the demand for power infrastructure and indirectly benefit miners who are able to occupy machines in modern locations where power quality and uptime are better than typical homes.

Are Bitcoin mining operations increasing in India? Yes. Although India is still a tiny percentage of global hashrate mining hardware revenue, mining hardware sales from the nation are increasing by double digits and India is expected to be among the fastest-growing markets for mining hardware in Asia in the coming years. It is not just confined to large farms. It can also be found in smaller powerful rigs, which are located in offices, homes and co-location racks.

Growing Demand for ASIC Mining Hardware As margins are tightening across the globe mining companies are becoming more cautious about their equipment and that is pushing Indian buyers to ASIC mining hardware instead of general-purpose GPUs. Analysts predict that the India bitcoin mining market is likely to nearly double in the period between 2023- 2030 with the bulk of this expansion tied to Bitcoin-focused equipment.

In this environment, India crypto hardware demand is shifting away from pure hashrate to reliability, efficiency as well as after-sales assistance. Buyers who are looking to buy bitcoin mining equipment india are now comparing joules-per-terahash warranties, and repairs in the local area, and not just price per unit, which is an indication of a market that is maturing.

What is the reason for ASIC hardware demand rising? ASICs provide a higher number of hashes per Watt than GPUs, and that is important in a nation where power prices could quickly wipe out thin mining margins. As newer generation chips boost efficiency and competition in the global market reduces the price per terahash unit, increasing the number of Indian mining companies are looking at ASICs as their only option to remain profitable through many difficulties.

Shift from GPU To ASIC Systems In the past there were a lot of small Indian establishments that relied on gaming cards due to their being easily sourced and sold. The window for this is closing now that competitiveness and network difficulties make older GPU equipment unaffordable for Bitcoin especially when you consider the noise and cooling in urban environments with lots of noise.

Even a small bitcoin miner that is built around an advanced ASIC will provide much greater performance and a better payback rate than a room filled with older GPUs. However, this doesn't necessarily mean GPUs disappear completely; however, specifically for Bitcoin in particular, their use is diminishing in the same way that ASICs are becoming the preferred option.

Supply Chain and Participation in the Domestic Market Globally the supply chain remains centered around a few manufacturers and suppliers, however India's position as a major electronic and semiconductor buyer is changing the way integrators and distributors are serving their local customers. The reports regarding the ASIC hardware market in India have shown an increase in imports of semi-custom and customized chips, and a growing interest of Indian design firms in providing ASIC designing and manufacturing solutions for specialized tasks, such as mining.

These trends don't mean India is going to suddenly produce cutting-edge mining chips, however, they do suggest greater local involvement in testing, logistics hosting, and the integration of mining equipment imported from abroad. This ecosystem supports makes it simpler for newcomers to use hardware without starting from scratch.

Snapshot Forces Shaping India's Mining Hardware A Turning Point Regulation, Electricity and Sustainability Growing demand for mining electricity in India is among the primary reasons that large-scale industrial farms are prone to disruption particularly in states with grid limitations or rely extensively on coal. Mining companies are moving to areas that offer better rates as well as solar-powered hybrid systems that decrease the dependence on grids over time.

On the political side and on the policy side, regulation of crypto mining India is in the process of evolving. Mining itself is not banned, but it sits inside broader tax, anti-money-laundering, and exchange-control frameworks rather than under a dedicated mining law. The ongoing discussions on regulatory clarity India crypto center on disclosures, flows across borders, and environmental reporting. These discussions may eventually be formalized to codify the best practices, rather than closing the doors to mining completely.

Is cryptocurrency mining allowed in India? As of the date of writing this article, the operation of mining equipment isn't explicitly prohibited in India However, miners must adhere to the tax laws, KYC requirements when converting currencies to fiat and any new disclosure requirements which regulators will introduce. Because the landscape is ever-changing and changing, many operators maintain their profile low and favor transparent accounting in order to minimize future risks of compliance.

What impact does mining have on the use of electricity? Mining is a constant and high-uptime burden on local grids. This can increase the cost of electricity and strain on peak-time systems if equipment isn't working properly or poorly cooling. If miners combine with efficient ASICs with off-peak energy usage or renewable energy sources, they are able to lower costs and reduce environmental impact as compared to older, energy-hungry rigs.

What Does This Mean for the future of Crypto Mining in India When you put these pieces together, India is shifting from a sporadic hobby community to an organized bitcoin mining industry India which is determined by efficiency measures as well as infrastructure quality and policies rather than speculation by itself. The majority of buyers view hardware as a capital investment for the long term that has to be in line with local tariffs, regulations and hosting rules.

If you're planning to be a crypto miner in India or to upgrade the current setup, this turning point will mean more research, but also improved tools. Platforms such as miningnow.com allow you to plug in hashrates, power consumption and tariffs to calculate real-time returns before committing equipment to a particular website. Bharat Miners is frequently cited by Indian miners as a reliable source of information in comparing models and understanding the impact of global trends on India's market place for high-end ASIC equipment in India. As the landscape develops those who can combine precise profit calculations with most suitable bitcoin miner selections will likely be the ones who are still operating smoothly throughout the next cycle.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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