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    DPIIT Signs MoUs with PhonePe and Shell India to Strengthen Startup Ecosystem and Drive Innovation
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August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
August 19, 2026
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Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.

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Customs & Trade

Trex Energy Launches REX BESS 125kW/261kWh with Liquid-Cooling (C&I) to Support Smart Industrial Energy Infrastructure

June 8, 2026

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• Integrated Smart BESS — 261kWh LFP battery with liquid cooling, EMS, and fire suppression • Multi-Use Energy Storage — Built for renewables, EV charging, backup power, and peak load management • Safe & Scalable — Real-time monitoring, remote diagnostics, and globally certified architecture HYDERABAD, India, June 8, 2026 /PRNewswire/ -- Trex Energy, an innovative energy storage solutions company headquartered in Hyderabad, Telangana, today announced the official commercial launch of the REX BESS 125kW/261kWh with Liquid-Cooling Battery Energy Storage System (BESS). The REX BESS from Trex Energy combines liquid cooling, intelligent energy management system, and integrated AC/DC architecture to deliver reliable, scalable energy storage for commercial, industrial, and utility applications in India and globally. This product launch arrives against the backdrop of MSEDCL's new tariff policy, which signals electricity tariff rebates for the adoption of energy storage solutions Product Overview: The REX BESS 125kW/261kWh BESS The REX BESS is a fully integrated, single-cabinet energy storage solution featuring a 261 kWh LFP (Lithium Iron Phosphate) battery with a nominal voltage of 832V and a cell capacity of 314Ah. With a maximum DC voltage of 950V and a maximum input active power of 125kW, the system is designed for high-efficiency charge-discharge cycles across both on-grid and off-grid configurations. Operating reliably across temperatures from -20°C to 55°C, and rated IP54 for protection against dust and water ingress, the REX BESS is built for real-world industrial conditions. Commenting on the launch Roshan Shaik, Technical Director - Trex Energy, said, "The REX BESS is not just a product — it is our commitment to India's energy future. With liquid cooling, aerosol fire suppression, and intelligent cloud monitoring built into a single cabinet, we are giving our customers a system they can trust for decades of reliable operation." Key Features Efficient & Scalable: Flexible expansion design allows one machine to serve multi-effect matching across a variety of application scenarios. Optional 100kW MPPT and 200kW STS support future capacity growth without system replacement. Reliable & Safe: Equipped with aerosol fire suppression and multiple protection systems covering overcharge, over-discharge, short circuit, and thermal events — ensuring safety across all operating conditions. Smart Energy Intelligence: Integrated Energy Management System (EMS) with 4G connectivity and a 7-inch HMI touch screen enables real-time monitoring, remote diagnostics, and fingertip cloud maintenance from anywhere. Fully Integrated System: Highly integrated AC and DC design in a single cabinet (under 1700×1350×2200mm, under 3500kg). Compatible with PV input, AC bus, grid, loads, and EV charging piles in a unified architecture. Advanced Liquid Cooling: Precision liquid cooling maintains optimal cell temperatures across all conditions, significantly reducing degradation and extending the battery lifecycle compared to conventional air-cooled systems. Applications The REX BESS 125kW/261kWh BESS is designed to address a wide spectrum of energy challenges across industries: Peak Load Management: Reduce electricity costs significantly through effective peak shaving and load shifting, lowering demand charges for commercial and industrial facilities. Renewable Integration: Enhance solar (PV) and wind energy utilization with stable, high-capacity storage — directly compatible with PV input through the integrated EMS architecture. Energy Backup: Provide reliable power supply during grid outages for uninterrupted operations in critical facilities, manufacturing units, and data centers. EV Charging Support: Enable efficient and scalable EV charging infrastructure with stable power delivery, supporting India's fast-growing electric mobility ecosystem. Grid Support: Strengthen power networks with distributed energy solutions — supporting frequency regulation, voltage stabilization, and load balancing for utilities. Energy Trading (Arbitrage): Maximize savings by leveraging energy price fluctuations — charging during off-peak hours and discharging during peak tariff periods. Technical Specifications — REX BESS-125kW/261kWh Technical Specifications — Rex BESS-125kW/261kWh DC Side Max Voltage 950V Max Current 160A Voltage Range 650~950V AC Grid Connection Max. Apparent Output 138kVA Max. Input Active Power 125kW Nominal Voltage 400Vac, 3P3W+PE / 3P4W+PE Max. Input Current 200A Nominal Input Frequency 50/60Hz AC Off-Grid Nominal Voltage 400Vac, 3P3W+PE / 3P4W+PE Max Output Current 200A Nominal Frequency 50/60Hz Battery Cell Capacity 314Ah (LFP) Capacity 261kWh Nominal Voltage 832V Voltage Range 728~910V C Rate ≤0.5C System Level HMI 7-inch touch screen Fire Safety Aerosol fire suppression Cooling Method Liquid Cooling Operating Temperature -20°C to 55°C IP Degree IP54 Dimensions (W×D×H) <1700×1350×2200mm Weight <3500kg Others MPPT 100kW (Optional) STS 200kW (Optional) Optimistic about the future, Bharat Chhittarka, Managing Director – Trex Energy opined, "With the REX BESS now available for deployment, Trex Energy is ready to partner with industries, renewable energy developers, and utilities across India who need proven, intelligent, and safe energy storage solutions. This is the system that will power the next generation of smart energy infrastructure." Availability & Deployment The REX BESS 125kW/261kWh BESS is now available for order and deployment. Trex Energy provides end-to-end support — from site assessment and system design to installation, commissioning, and ongoing maintenance. Customized configurations, including optional MPPT (100kW) and STS (200kW) integration, are available to suit specific project requirements. For inquiries, project consultations, or to schedule a demonstration, contact Trex Energy directly. For more information about the product and the brand please visit the website. About Trex Energy Trex Energy is a Hyderabad-based energy storage solutions company dedicated to designing and delivering advanced Battery Energy Storage Systems for commercial, industrial, and utility applications. With a tagline of "We Store Electrons," Trex Energy is committed to accelerating India's clean energy transition through innovative, reliable, and intelligent energy storage technology. Trex Energy operates from its registered offices in Hyderabad, Telangana and Pune, Maharashtra. For media queries please contact: Narayan Vasu | Sales Director - Trex Energy Tel: +91 98660 11445 Email: [email protected] Web: www.trexenergy.in Address: 8th Floor, Vamsiram Suvarnadurga Tech Park, Financial District, Nanakramguda, Hyderabad, Telangana 500032 Logo: https://mma.prnewswire.com/media/2995678/Trex_Energy_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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