The cumulative exports (merchandise & services) during April-August 2026-27 is estimated at US$ 399.27 Billion, as compared to US$ 345.55 Billion in A...
Methamphetamine trafficking enforcement enabled coordinated vehicle interceptions, contraband seizures, and arrests under narcotic drug control law. Intelligence-led narcotics enforcement led to the interception of four trucks in Assam and Tripura suspected of carrying methamphetamine tablets concealed in vehicle cabins. A total of 231.8 kg of suspected methamphetamine tablets, along with all four vehicles, was seized under the NDPS Act, and three persons were arrested. The action involved coordinated surveillance, interception and searches directed at an alleged drug-smuggling syndicate.
Authorised Economic Operator programme advances trusted trade through risk-based customs facilitation, streamlined EMI documentation, and stakeholder-led reforms. India's Authorised Economic Operator Programme promotes voluntary compliance, supply-chain security, risk-based customs administration and predictable cross-border movement of goods. Compliant trade and logistics entities may receive simplified customs procedures and risk-based facilitation. Proposed process reforms include uniform operating procedures, applicant checklists, single-deficiency processing, time-bound applications, clearer financial-solvency requirements, and strengthened client relationship and validation arrangements. Documentation under the Eligible Manufacturer Importer Scheme has been reduced, supporting lower compliance burdens and a pathway towards higher AEO tiers.
Fraudulent procurement of a second passport allegedly involved false identity records, a false loss report, and overseas travel. Alleged fraudulent procurement of a second passport arose after a passport had been surrendered in money-laundering-related proceedings. Authorities allege that the individual falsely reported the passport as lost and obtained another passport through false information, including an incorrect address in identity documentation and supporting records. The second passport was allegedly used for international travel. Criminal proceedings concern alleged forged documents, false representations and passport-related offences under the Bharatiya Nyaya Sanhita and the Passports Act.
Rupee depreciation reflected dollar strength, foreign outflows, elevated oil prices, and importer demand despite stronger domestic equities. Foreign-exchange market conditions resulted in the rupee weakening for a seventh consecutive session and closing lower against the US dollar. Dollar strength, foreign fund outflows, elevated crude oil prices, higher US Treasury yields and increased importer demand for dollars exerted pressure on the currency. Positive domestic equity-market performance limited the downside, while expectations of a US Federal Reserve interest-rate increase supported the dollar index.
Multi-currency prepaid travel cards enable foreign-exchange spending, exchange-rate locking, and mobile-based controls for Indian international travellers. Wizzmoni Financial Services Ltd. and City Union Bank Ltd. have partnered to launch Wizz Voyager, a co-branded AI-powered multi-currency prepaid travel card for Indian residents undertaking international travel. The card supports 37 international currencies and provides real-time exchange-rate locking, spending controls, transaction tracking and mobile-app-based management. It is designed to facilitate foreign-exchange spending and management of multiple currencies through a single payment instrument.
Non-executive nominee directorship strengthens lending governance, compliance, risk management and technology-led capability as the business scales responsibly. Finnable has appointed Sreeram Ranganathan Iyer as a Non-Executive Nominee Director representing investor TVS Capital. The role is intended to strengthen board oversight as the non-banking financial company expands its lending operations. The identified priorities for sustainable growth include technology, compliance, governance, risk management, responsible lending, and data-driven underwriting. The nominee directorship reflects investor participation in governance and capability-building for a sustainable lending franchise.
Money laundering investigation addresses alleged land grabbing through forged property records, fabricated claims, coercion, and denial of landowners' rights. Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged land grabbing through forged board resolutions, forged-sale agreements, fabricated deeds, and falsified property records. The alleged conduct includes manipulation of land records, civil proceedings based on false claims, denial of landowners' lawful entitlements, and threats or physical force against persons asserting legitimate rights. The investigation is linked to multiple police FIRs concerning the individual and associated entities.
Trade performance estimates show merchandise and services exports increasing while imports rise, widening the cumulative trade deficit. External trade estimates for April-August 2026-27 show combined merchandise and services exports of US$399.27 billion and imports of US$459.65 billion, with a trade deficit of US$60.38 billion. Merchandise exports reached US$215.91 billion, while services exports were estimated at US$183.36 billion. Non-petroleum exports increased to US$180.61 billion. Growth in August merchandise exports was driven by electronic goods, petroleum products, engineering goods, chemicals, and cotton yarn, fabrics, made-ups and handloom products. Services-sector figures for August were estimated using data available through July.
Rupee depreciation amid dollar strength and foreign fund outflows highlights pressure from global monetary expectations and elevated oil prices. Rupee depreciation against the US dollar in early trading reflected pressure from a stronger dollar and net foreign fund outflows, notwithstanding support from positive domestic equity-market performance. Dollar strength was associated with market expectations of a US Federal Reserve interest-rate increase to address inflation linked to higher oil prices. Elevated crude oil prices and risks to oil exports remained concerns, while domestic equity gains provided countervailing support.
Fraudulent input tax credit through bogus invoices prompted arrest following allegations of invoicing without actual supply of goods. The investigation concerned alleged fraudulent availment and passing on of inadmissible input tax credit through bogus invoices. Multiple suppliers were identified as non-existent, non-functional, suspended or cancelled, while field verification indicated an absence of genuine business activity at certain declared premises. Input tax credit was allegedly availed without receipt of goods and passed on through invoices without corresponding supplies. Statements recorded during investigation led to the arrest of a firm partner under the CGST Act.
UPI merchant discount rate framework preserves free individual and small-merchant payments while charging specified larger merchant transactions. UPI person-to-person transactions remain free irrespective of value, and person-to-merchant payments up to Rs.2,000 remain outside the merchant discount rate framework. Small merchants receiving qualifying UPI QR payments under the P2PM category continue to receive zero MDR treatment. MDR applies only to specified merchant payments above the threshold, with separate treatment for essential sectors and capital-market payments. Customers are not liable for MDR, merchants must not pass it on, and UPI application providers may not levy platform fees or hidden charges. MDR revenue supports payment ecosystem participants and small-merchant UPI adoption.
Merchant discount rate on large-value UPI merchant payments supports infrastructure investment while preserving free user payments. Merchant Discount Rate (MDR) of 0.4 per cent applies to large-value UPI person-to-merchant payments exceeding Rs 2,000 from October 15. MDR is a merchant payment ecosystem charge, not a fee payable by customers. Person-to-person UPI payments remain free for users, while person-to-merchant UPI payments below Rs 2,000 remain free for merchants. MDR distribution is intended to support payment technology, infrastructure, acceptance networks and sustained UPI growth.
Special economic zone approval enables a silicon carbide semiconductor facility operating under an export-oriented technology investment framework. Approval for a special economic zone-linked silicon carbide semiconductor manufacturing unit permits establishment of a facility under the jurisdiction of Falta Special Economic Zone. The unit is proposed to manufacture silicon carbide diodes and silicon carbide MOSFETs. Project financing combines government capital subsidies and promoter contribution, while the facility is projected to support export-oriented advanced semiconductor manufacturing, domestic capabilities, and technology-driven capital investment.
Merchandise trade performance reflects strong export momentum, import-led deficit pressures, and expanded services trade during August. Merchandise exports increased by 26.12 per cent year-on-year to USD 43.81 billion in August, led by electronics, engineering goods and petroleum products. Merchandise imports rose 14.1 per cent to USD 70.76 billion, driven by crude oil, project goods, electronic items, silver, coal and coke. Gold imports declined substantially, contributing to a five-month low merchandise trade deficit. During April-August 2026-27, higher imports reflected domestic economic expansion, energy requirements and manufacturing-sector input needs.
Foreign exchange market pressures weakened the rupee as oil-import demand, risk aversion, dollar strength, and rising yields intensified. Foreign exchange market pressures led to a sixth consecutive session of rupee depreciation against the US dollar. Higher Brent crude prices, dollar demand from oil importers, risk aversion, a stronger dollar and elevated global Treasury yields heightened concerns over inflation and India's external trade balance. Potential RBI intervention was viewed as a factor that could support the rupee at lower levels.
Merchant discount rates for larger merchant UPI payments introduce category-based fees while preserving free consumer transfers. Merchant discount rate framework introduces a 0.4 per cent charge on direct person-to-merchant UPI payments exceeding Rs 2,000, effective from 15 October 2026. The charge is capped at Rs 300 for higher-value payments and is payable by merchants to acquiring banks. Person-to-person transfers remain free regardless of value, and P2M payments up to Rs 2,000 remain outside the charge. App providers may not impose platform fees or hidden charges, and banks must prevent merchants from passing MDR costs to customers.
Insolvency fraud enforcement targets collusive resolutions, coordinated predicate-offence investigations, accelerated money-laundering trials, and earlier victim asset restoration. Enforcement priorities target suspected insolvency-resolution frauds involving collusive large haircuts, promoter reacquisition of assets, related-party claim inflation, creditor-process manipulation, asset stripping, and circumvention of resolution-applicant ineligibility. Coordination with police and other agencies is emphasised for predicate offences, including joint investigation teams and committal applications to enable combined trials of predicate and money-laundering offences. Asset restoration for legitimate victims is to be pursued early, especially in investor and homebuyer frauds.
Export expansion and domestic manufacturing guide JCB India's strategy through broader equipment offerings, fuel efficiency, and operator comfort. JCB India targets 15-20 per cent export growth during the current financial year and plans a similar increase in annual production. Its export operations cover approximately 135 countries, including Southeast Asia, Africa and developed markets. The company's construction and earthmoving equipment portfolio is designed, engineered and manufactured in India for domestic and international customers, with product development focused on fuel efficiency, operator ergonomics, comfort and productivity.
Merchandise export growth driven by petroleum products coincided with lower gold imports and a narrowing trade deficit. Merchandise exports increased sharply in August, led by petroleum product shipments, while imports also rose year-on-year. Reduced gold imports contributed to a narrower merchandise trade deficit. During the first five months of the fiscal year, the cumulative deficit widened as higher imports reflected domestic expansion, energy requirements and manufacturing-input demand. Energy commodities and electronic goods were principal contributors to the deficit, while export growth was supported by engineering goods, petroleum products, chemicals and textiles.
Bribery allegations in CGST redevelopment approvals lead to arrests following a trap involving an intermediary consultant. Bribery allegations concerning CGST redevelopment approvals led to registration of a case against a CGST Superintendent and unknown persons. The Superintendent allegedly sought undue advantage for issuing a no-objection certificate and handing over CGST-owned flats. Following verification, a trap was laid after the complainant was allegedly directed to deliver cash to a CGST consultant. Both the Superintendent and consultant were arrested, produced before the competent court, and placed in police custody. Further investigation remains in progress.
Following the global melt-down a liquidity constraint was felt by many sectors of the economy, including building/real estate sector. In order to ensure that this sector is not adversely affected the RBI took a number of measures to improve the liquidity constraints and to bring down the overall cost of credit. With reduction in the REPO rates, the scheduled commercial banks were able to bring down their lending rates to the housing/real estate sector. A Special Refinance facility ofRs.4,000 crore was introduced in December, 2008 to enable the National Housing Bank (NHB) to lend to Housing Finance Companies at reasonable rate of interest. Further more, in view of the difficulties faced by the real estate sector, exceptions/special treatment has been extended to commercial real estate exposures which are restructured upto June 30, 2009. There are several underlying causes of black money generation. The Government takes several punitive and deterrent steps which includes search and seizure operations, survey actions, scrutiny of returns, imposition of penalty and launching of prosecution in appropriate cases.
Liquidity support for real estate sector lowers lending costs and provides special refinance and restructuring relief.
RBI implemented liquidity measures for the building and real-estate sector, including repo rate reductions to permit lower lending rates and a Special Refinance Facility routed via the National Housing Bank to enable housing finance companies to obtain funds at reasonable interest; regulators also permitted special treatment for commercial real-estate restructurings up to a specified cutoff. Concurrently, the Government pursued enforcement measures against black money through search and seizure, surveys, return scrutiny, penalties and prosecutions.
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