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    ED raids multiple locations in Keralam in hybrid ganja smuggling money laundering case
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September 3, 2026
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Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
September 3, 2026
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Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
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.

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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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