Amit Shah unveils three-year roadmap to strengthen India’s anti-drug fight

by Hansraj Agrawal | Jun 26, 2026 | Business

Union Home Minister Amit Shah launches the Vision Document on Narcotics Control at the 10th Apex-Level Meeting of the NCORD, in New Delhi on Friday. Intelligence Bureau (IB) Director Mahesh Dixit (R) also present.
| Photo Credit:
ANI

i The Union Ministry of Home Affairs is completely overhauling the nation’s anti-drug enforcement ecosystem, with a sharper policy framework, a significantly strengthened policing mechanism, dedicated courts for speedier justice, and improved coordination with states to dismantle the narcotics network over the next three years.

Union Minister for Home Affairs and Cooperation Amit Shah outlined the government’s roadmap while chairing the 10th Apex Level Meeting of the Narco-Coordination Centre (NCORD) in the national capital, where he unveiled ‘Vision Document on Drug Control (2026-2029).’ He also launched the ‘Online Drugs Disposal Fortnight Campaign’, under which a target has been set to destroy more than ₹6,000 crore worth of narcotic substances weighing 2,09,500 kilograms.

Focus on stronger laws and faster prosecution

The Centre is “relooking” at the NDPS Act to plug loopholes exploited by narco syndicates and underlined the need for a ruthless approach towards drug peddlers and suppliers, he stated. The MHA has also taken up the matter with all High Courts to set up special courts, ensure an adequate number of judges, and give priority to daily hearings in major cases for early disposal. We will not be able to effectively follow the money trail until we ensure real-time information sharing. Therefore, real-time data sharing must be ensured, he emphasised.

In major NDPS cases, financial investigation must be made mandatory by the state police chiefs, he told the gathering of senior police officers and other dignitaries. The entire process of identifying proceeds of crime, freezing them, seizing them and ensuring they do not return to the accused, even from jail, will have to be made evidence-based and equipped with modern technology, he suggested. He wanted the enforcement agencies to adopt a policy of ‘Detect, Disrupt and Destroy’ the entire narcotics network, from the source to the kingpin.

States asked to strengthen anti-narcotics units

According to the Minister, NCRB, NFSU, DFSS, I4C and NATGRID will have to do extensive work at their respective levels for cartel identification. States should convert their ANTFs into full-time units and transform them into dedicated, well-resourced, equipped and accountable units.

He urged all State governments to target drug traffickers and gangsters from their respective states, hiding abroad, by issuing Red Corner Notices, utilising the CBI and other agencies to initiate the process of bringing them back.

Drug seizures and action against illegal cultivation rise

Sharing data on improved enforcement activities, Shah said between 2004 and 2014, drugs worth ₹40,000 crore — 26 lakh kilograms of synthetic drugs — were seized. In contrast, from 2014 to 2026, drugs worth ₹1,84,000 crore have been seized. This shows that our campaign is moving forward successfully.

Similarly, the destruction of illegal cultivation has also increased, according to the MHA. In 2020, 10,000 acres of illegal opium crops were destroyed, while in 2025, we destroyed 42,282 acres. Between 2004 and 2014, there were 1,73,000 cases, resulting in 1,95,000 arrests. From 2014 to 2026, 8,75,000 cases have been registered, and 10,97,000 people have been arrested.

Roadmap built on four pillars

Shah said that Prime Minister Narendra Modi has set the vision of a Viksit Bharat by 2047 and the target of a Nasha Mukt Bharat. The roadmap from 2026 to 2029, prepared to achieve this goal, is based on four major pillars – Enforcement, Intelligence and Operations; Precursors and Synthetic Drug Control; Demand and Harm Reduction; and Capacity Building, Coordination and Monitoring, the Union Minister said.

Published on June 26, 2026

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Bengal to ‘scrap’ urban land ceiling Act to attract big ticket investment

by Hansraj Agrawal | Jun 26, 2026 | Business

West Bengal Finance Minister Swapan Dasgupta presents the state’s first full budget for FY 2026-27 in the assembly (file photo)
| Photo Credit:
ANI

West Bengal Finance Minister Swapan Dasgupta on Friday said the government will “scrap” the Urban Land Ceiling Act to attract big-ticket investments in the State.

Speaking at an event organised by the Bengal Chamber of Commerce & Industry, Dasgupta indicated that the government would initiate all the reforms which are required so that the State achieves the highest growth rate among Indian states in the next four years.

“We have taken certain important initiatives in terms of reform. We are going to scrap the Land Ceiling Act, which has been a recurrent demand. We are going to make it easier for people who invest Rs 1000 crore plus to get over all those various clearances,” the finance minister said.

Notably, presenting the State Budget on Monday, Dasgupta said the government would ‘re-examine’ the Urban Land Ceiling Act. He had described the Urban Land (Ceiling and Regulation) Act, 1976, as a major bottleneck to attracting large-scale investments in the State.

On Friday, the FM said Bengal can witness the highest growth rates in India in the next four years, given an “enabling” framework provided by the government. “Apart from sops, we need an environment which is friendly towards business. We are banking on growth and banking on people like you (industrialists) to optimise our potential. Bengal will be back with a bang, and I hope all Bengalis will take full advantage of that,” he added.

“Thematic analysis points to a decisive shift in the FY27 Budget towards investment-led growth and economic transformation. Themes relating to investment, governance, fiscal management, technology, entrepreneurship, tourism and climate resilience (that were hitherto absent in earlier budgets in terms of focus) assume greater prominence, suggesting a strategic reorientation of the budget discourse towards industrialisation, productive capacity creation, and long-term growth acceleration,” SBI Research said in its report on the West Bengal budget for financial year 2026-27.

Significantly, the West Bengal government is working on framing the necessary rules to incentivise fresh investment in the State, and at the outset, such incentives are expected to be on par with those of neighbouring States like Odisha and Assam to ensure a level playing field for attracting investment.

Published on June 26, 2026

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Mahindra Finance shifts revenue mix as alternative segments grow to 8.76%

by Hansraj Agrawal | Jun 26, 2026 | Business

Mahindra & Mahindra Financial Services Limited experienced a structural shift in its revenue composition during FY 25-26 , with alternative segments growing to 8.76 per cent of its total turnover, the company said in a stock exchange filing.

According to the documentation, the contribution from the non-banking financial company (NBFC) primary segment—financial and credit leasing activities—moderated to 91.24 per cent of its total turnover, down from 99.65 per cent reported in the previous fiscal year.

Concurrently, income generated from other financial activities expanded significantly to fill the remaining 8.76 per cent share, up from a baseline of 0.35 per cent in the prior period.

The change in revenue distribution occurred alongside structural adjustments to the company domestic network.

The company reported a total of 1,348 office locations spanning 27 states and 7 Union Territories as of March 31, 2026, down from 1,365 branches at the end of the previous year.

International operations remained centered on its joint venture, Mahindra Finance USA LLC, and its subsidiary, Mahindra Ideal Finance Limited in Sri Lanka.

(This article was generated by AI using a regulatory filing submitted to the National Stock Exchange of India)

Published on June 26, 2026

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Centre initiates review of India’s approved basmati varieties

by Hansraj Agrawal | Jun 26, 2026 | Business

At present, the government recognises 45 aromatic rice varieties as eligible for export as basmati

What’s in a name? A lot, if basmati rice exporters are to be believed. At their behest, the Centre has initiated a review of India’s approved basmati varieties, seeking to prune the list of export-eligible aromatic rice strains and preserve the brand identity of popular varieties such as Pusa Basmati 1121.

At present, the government recognises 45 aromatic rice varieties as eligible for export as basmati. Exporters have long argued that this list is too long because only a handful of varieties are actually sought after by overseas buyers. With the government deciding to prune the approved list of names, basmati varieties will be more aligned with what the export market demands.

Also, typically, when scientists improve an existing basmati variety, they release it under a new code/name. Exporters say this creates a marketing problem because foreign buyers only recognise famous varieties such as Pusa Basmati 1121, which is the world’s longest elongated rice after cooking. The popularity of Pusa Basmati 1121 is such that the other producing country, Pakistan, also sells its aromatic rice using 1121 code.

To be able to qualify as basmati, one of the few parameters is the size that needs to be minimum 12 mm length after cooking. But in case of Pusa Basmati 1121, which was released in 2005, the length expands to 22 mm.

“Pusa 1121 contributed to taking India’s basmati exports to over ₹50,000 crore (2025-26) from less than ₹3,000 crore (2004-05) for which IARI has done a commendable job. But if there is an alignment in names of improved varieties with the parent successful variety, it is a welcome step,” said Vijay Setia, a former President of the All India Rice Exporters Association.

no decision yet

Sources said that top IARI scientists, officials of the government’s agri export promotion arm APEDA and some exporters had a brainstorming earlier this week. Though there is no decision yet, ICAR is believed to have agreed to revisiting the naming issue in Basmati varieties.

“For a mature GI product like basmati, a living variety management framework might be preferable to a static list through defined reputation principles. Basmati rice GI system may classify varieties as principal varieties, which forms the core identity of the GI while the remaining [including improved varieties] could be classified as secondary varieties, historic/heritage varieties, experimental varieties and withdrawn varieties,” said trade policy expert S Chandrasekaran.

Published on June 26, 2026

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South Indian Bank eyes inflows of up to billion via fresh FCNR (B) deposits

South Indian Bank eyes inflows of up to $1 billion via fresh FCNR (B) deposits

by Hansraj Agrawal | Jun 26, 2026 | Business

South Indian Bank (SIB) is eyeing inflows of about $1 billion via fresh FCNR (B) deposits by September-end 2026, encouraged by RBI’s move to bear the full hedging cost on such deposits.

Towards this end, the Thrissur (Kerala) – headquartered private sector Bank is banking on its long-standing relationship with its NRI customers, according to Dolphy Jose, Executive Director.

SIB is also talking to 3-4 foreign banks, including those based in West Asia, so that its NRI customers can raise loans on the strength of stand-by letter of credit (SBLC) issued by it and place the proceeds as FCNR (B) deposits with it.

“FCNR is a pricing game. So, we are aggressive because this is the ideal time to give the best pricing possible to our existing FCNR (B) depositors and get fresh growth,” Jose said.

Banks have turned aggressive in pricing FCNR (B) US Dollar deposits in the 3-5 years tenor, with interest rates being upped to 6-7 per cent thereabouts, from the earlier 3 per cent odd levels.

The sharp rise in interest rates on FCNR (B) deposits follows RBI’s measures to bolster Dollar inflows, including by bearing the full hedging cost for fresh 3–5-year FCNR (B) deposits raised up to September-end 2026.

The central bank has also temporarily exempted banks from maintaining statutory pre-emptions — cash reserve ratio and statutory liquidity ratio on the fresh deposits.

NRI deposits accounted for about 29 per cent of the Bank’s total deposits of ₹1,23,346 crore as at March-end 2026.

On US Dollar deposits of up to $0.5 million and above $0.5 million, the highest interest rate that SIB is now offering is 6.50 per cent and 7 per cent, respectively, on three maturity buckets – 2 years to less than 3 years, 3 years to less than 4 years and 4 years to less than 5 years.

“We are targeting to mobilise about $1 billion dollars through FCNR (B) deposits. Even if we achieve 75 per cent of this, it’s good enough. So, we have a ballpark target…we want to get to that kind of number,” Jose said.

Published on June 26, 2026

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NSE chief urges MSMEs to use IPO route for growth capital

by Hansraj Agrawal | Jun 26, 2026 | Business

NSE Managing Director Ashish Chauhan has urged startups and MSMEs to use public markets as a growth tool, saying listings help founders raise capital while retaining control of their businesses. (A file picture)
| Photo Credit:
BIJOY GHOSH

Public listing allows founders to raise growth capital while retaining control of their businesses, National Stock Exchange (NSE) Managing Director and Chief Executive Ashish Chauhan said on Friday, urging startups and micro, small and medium enterprises (MSMEs) to use capital markets to scale their businesses.

Speaking at the JITO Incubation and Innovation Foundation’s (JIIF) Foundation Day event, Chauhan said entrepreneurs usually turn to banks or private investors for capital. While banks and private investors may want a say in the business, public markets allow founders to raise money while continuing to remain in control.

Listing helps founders retain control and unlock capital

“When you list, you keep 75 per cent with yourself and offer 25 per cent to the market in the beginning. You can give more later. Control stays with you,” Chauhan said.

Listing not only helps companies raise money but also gives the business greater visibility, attracts analyst coverage, improves credibility with lenders and customers, and helps attract talent. Compliance requirements also increase after listing, but founders should not see that as a burden as long as the business functions fairly, he said.

Public markets offer valuation and expansion opportunities

Public markets reward profitable businesses with a valuation that private balance sheets cannot match, he said. A company earning an annual profit of ₹2 crore could command a market capitalisation of ₹40 to 50 crore once listed, giving the promoter room to raise capital, bring in partners and expand operations.

He also described a listed share as a company’s own currency. It can be used to acquire businesses, bring in partners, pledge shares to raise funds and reward employees through stock options. He cited Infosys’ early use of employee stock options to attract talent.

Focus on business fundamentals, not stock movements

At the same time, Chauhan asked founders not to get distracted by daily stock price movements. “Your business is in your operations, not in the share price. The stock market is only a reflection of your business, it is not the business itself,” he said, adding that share prices follow sustained growth in profit.

Generating trading volume is not the company’s responsibility but rather that of a market-maker, which provides two-way quotes for three years for SME companies, he said.

While SME business models carry higher risk than those of larger main-board companies, Chauhan said investors in the segment understand the risk-reward trade-off and that well-run SME companies can scale quickly.

NSE SME platform crosses major milestones

The JIIF chairman, Jeenendra Bhandari, said, “For too long, our MSMEs and founders have seen public listing as a distant ambition rather than a practical tool for growth. The truth is that listing offers growth capital, sharper governance and lasting credibility, while leaving control firmly with the promoter. What matters is building a profitable, durable business; the share price will follow.”

Companies listed on the NSE’s SME platform since its launch in 2012 have collectively raised more than ₹21,700 crore and have a combined market capitalisation of more than ₹2 lakh crore, he said.

The remarks come days after NSE filed its draft red herring prospectus for an offer-for-sale of 14.89 crore equity shares or nearly 8 per cent of its shareholding for its long-awaited initial public offering.

Published on June 26, 2026

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