Business

New Delhi, Aug 23 (IANS) The Securities and Exchange Board of India (SEBI) has proposed a new distribution framework modelled on the Mutual Fund Distributor (MFD) system to widen retail participation in corporate bonds and other permitted fixed-income securities, particularly among investors in smaller cities and rural areas.

Under the proposed framework, Fixed Income Channel Partners (FICPs) will be enlisted with stock exchanges and appointed by Online Bond Platform Providers (OBPPs) to help investors understand, access and transact in fixed-income products.

SEBI said the corporate bond market has expanded substantially over the past decade, with outstanding corporate bonds rising from around Rs 17.5 trillion at the end of FY15 to more than Rs 60 trillion as of July 31, 2026. Listed corporate bonds account for around Rs 46 trillion, or 76.6 per cent of the overall market.

Despite this growth, retail participation in the corporate bond market remains limited, with debt securities continuing to be accessed largely by institutional investors.

The regulator said the existing OBPP framework has simplified retail access to listed debt securities by allowing investors to compare products and complete transactions through online platforms. This has also been accompanied by a sharp increase in activity on the Request for Quote (RFQ) platform.

According to SEBI, the number of RFQ trades increased from 2.76 lakh in FY25 to 17.84 lakh in FY26, representing a rise of around 546 per cent. The regulator said the increase was driven largely by growing retail participation through OBPPs.

However, SEBI noted that a structural gap remains in reaching investors beyond major urban centres, particularly those in Tier II, Tier III and rural locations.

The regulator said consultations with stakeholders highlighted the role played by MFDs in expanding awareness and access to mutual funds in smaller cities. The proposed FICP framework seeks to adapt that distribution model to the fixed-income market.

Under the proposed system, FICPs would help investors understand the features and risks associated with fixed-income products, complete necessary documentation and access regulated platforms for transactions.

Individuals as well as non-individual entities would be eligible to become FICPs, subject to prescribed conditions. Individuals would have to be Indian citizens aged at least 18 years, have completed Class 12 and hold a valid NISM-Series: Fixed Income Securities certification, among other requirements.

--IANS

pk

New Delhi, Aug 23 (IANS) Urban Company on Sunday filed a defamation and disparagement suit against Kent RO Systems before the Delhi High Court, alleging that advertisements and social media posts by the company made false and misleading claims about its Native water purifiers.

According to an exchange filing, Urban Company filed the suit on August 11, alleging that Kent RO's advertising campaign targeted the two-year filter life and two-year service life features of its Native M0, M1, M2, M1 Pro and M2 Pro water purifiers.

Urban Company said Kent RO's advertisements described the features as a “marketing gimmick” and claimed that using Native water purifiers was “unsafe” and “risky” for consumers.

The matter came up before the Delhi High Court on August 12. Following the hearing, Kent RO informed the court that it would withdraw the advertisements that were the subject of the lawsuit.

Kent RO also told the court that it would not publish or run other advertisements or promotional material making the same or similar claims about water purifiers offering a two-year filter life or a two-year no-servicing feature in a manner that disparages Urban Company, according to the exchange filing.

Urban Company said Kent RO has been directed to remove the advertisements and social media content within 15 days from August 12.

The Delhi High Court passed the order on August 12, although it was published on the court's website on August 22.

The dispute is part of a broader legal battle between the two companies. Urban Company said other matters remain sub judice, including a patent infringement suit filed by Kent RO and Urban Company's counterclaim against Kent RO's patent.

Urban Company has also filed a separate tortious interference suit against Kent RO, adding to the ongoing legal disputes between the two companies.

The latest development comes as Urban Company's stock has continued to see significant movement in the market. Its shares closed 8.19 per cent higher at Rs 157.41 on Friday, ahead of the company's disclosure.

The stock has gained nearly 20 per cent so far this year, although it has delivered a negative return of around 6 per cent over the past 12 months.

--IANS

pk

New Delhi, Aug 23 (IANS) India’s action against at least 57 websites and databases hosted on Google’s Firebase platform has put the spotlight on how cybercriminals are allegedly exploiting a legitimate cloud service to run phishing campaigns, distribute malware and steal sensitive financial information. So, what is Firebase, how are scammers misusing it, and why has it become a concern for Indian cyber authorities?

Firebase is a cloud-based development platform from Google that helps developers build, run and manage mobile applications and websites. It provides a range of ready-made tools for functions such as website hosting, data storage, user authentication, analytics and other app-related services.

The platform is widely used by developers globally and is part of Google's broader cloud business. Instead of building every component of an application's backend from scratch, developers can use Firebase's infrastructure and services to develop and operate applications more efficiently.

Firebase itself is a legitimate technology platform. The concerns raised by Indian authorities relate to the alleged misuse of its infrastructure by cybercriminals and do not mean that Firebase or Google is responsible for the fraudulent activities.

According to notices sent by India's Indian Cyber Crime Coordination Centre (I4C) to Google, scammers were allegedly using Firebase-hosted websites to create fake pages that impersonated major banks and other trusted organisations.

Some of the websites reportedly mimicked banks such as State Bank of India, ICICI Bank and Axis Bank. Such pages can be designed to look similar to genuine banking websites and can trick users into entering sensitive information.

The notices also identified Firebase-hosted websites that were allegedly being used to collect information stolen from victims' smartphones, including credit card details and one-time passwords.

By using legitimate cloud infrastructure, scammers can potentially make fraudulent websites and backend systems appear less suspicious than infrastructure created specifically for criminal purposes.

In one reported scheme, fraudsters allegedly created fake websites offering assistance with PM-KISAN payments. Victims were persuaded to download an Android application through these websites.

The application was allegedly malicious and could collect information from the victim's phone. The stolen information could then be transmitted to a Firebase database controlled by the scammers.

This creates a chain in which the fake website is used to lure the victim, the malicious application is used to obtain information from the device, and the Firebase database serves as part of the backend infrastructure for receiving or storing the stolen data.

Firebase is often described as a backend-as-a-service platform because it provides developers with ready-made infrastructure and tools for managing parts of an application's backend.

Its database services allow applications to store and synchronise data, while other Firebase features support hosting, authentication and application management.

These capabilities are useful for legitimate developers because they reduce the need to build backend systems from scratch. However, the same features can potentially be abused by criminals to host fraudulent pages, support malicious applications or store data obtained from victims.

The problem, therefore, is not the existence of Firebase itself but how legitimate cloud infrastructure can be repurposed for malicious activities.

India has ordered Google to take down at least 57 websites and databases hosted on Firebase in August after officials found that they were allegedly being used for phishing, malware distribution and financial fraud.

The action followed notices from I4C identifying websites and databases that were allegedly involved in fraudulent activities.

--IANS

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New Delhi, Aug 23 (IANS) As India commemorates National Space Day on August 23, experts from the country’s space industry on Sunday said the next phase of India’s space journey will be driven not only by launch and satellite capabilities but also by the rapid expansion of downstream applications, private participation and satellite-based services.

Lt. Gen. AK Bhatt, Director General, Indian Space Association (ISpA), said India’s private space ecosystem has travelled a remarkable distance in a relatively short period and is now witnessing capabilities translate into real market opportunities.

He said India is emerging as a full-stack space economy, with growing strengths across launch, satellite infrastructure and a range of downstream applications.

"India is emerging as a full-stack space economy, with growing strengths across launch, satellite infrastructure and a range of downstream space applications," he said.

"Recent successes by private space companies have demonstrated India’s ability to build capabilities at a globally competitive level, sending an important signal to investors and international partners that Indian space companies can move from innovation to execution and scale," Bhatt mentioned.

He attributed the progress to a strong public-private partnership involving ISRO’s technological expertise, progressive policy and regulatory reforms, and the execution capabilities of a new generation of private companies.

Krishanu Acharya, CEO and Co-Founder of Suhora Technologies, said India’s private space story has largely been associated with rockets and launch vehicles, but downstream applications could emerge as the more sustainable growth engine for the sector.

"As more satellites reach orbit, that raw data only becomes valuable once it's converted into usable insight, and that's where downstream players will increasingly drive revenue for India's space economy. We see this as the layer where India can build lasting, exportable expertise, not just supporting domestic capability, but competing globally in analytics and applications built on space data," Acharya mentioned.

Gautam Sharma, Managing Director, Viasat India, said India’s progress towards becoming one of the leading spacefaring nations has been significant and highlighted the role of the government and ISRO in creating a world-class space ecosystem through public-private partnerships.

--IANS

pk

Mumbai, Aug 23 (IANS) The near-term outlook for the Indian stock market remains sideways to cautious, with analysts identifying 77,000-77,380 as an immediate support zone for the Sensex and 77,720-78,000 as a key resistance area, while the Nifty faces resistance at 24,400-24,600.

Analysts said a sustained move above the Sensex resistance zone could improve the short-term market outlook, while holding above the 77,000-77,380 support range would keep the ongoing consolidation structure intact.

"From a technical perspective, the index continues to trade around its 50-Day EMA but remains below the crucial 200-Day EMA, keeping the broader trend cautious. RSI at 49.00 indicates subdued momentum, with no clear directional strength at present," a market expert stated.

"Immediate support is placed at 77,000–77,380, while 77,720–78,000 remains the key resistance zone," the analyst added.

For the Nifty, analysts have placed immediate support in the 24,000-23,800 zone, followed by stronger support near 23,650.

"Sustaining above 24,000 and the lower triangle trendline would indicate continued buying interest on declines and help preserve the current technical structure," an analyst stated.

"On the upside, a decisive move above 24,600 could strengthen recovery momentum and attract fresh buying, while a break below 23,900 may increase selling pressure and weaken the near-term setup," a market expert noted.

The benchmark indices ended the week on a cautious note, extending their recent corrective trend amid elevated crude oil prices, rising global bond yields and persistent geopolitical tensions, which continued to weigh on investor sentiment.

Trading remained volatile through the week, with the benchmark indices witnessing intermittent recovery attempts before ending Friday largely unchanged as investors assessed the evolving global risk environment.

On a weekly basis, the Nifty declined around 0.47 per cent to close at 24,252, while the Sensex fell nearly 0.60 per cent to settle at 77,540.83. The decline marked the second consecutive week of losses for both benchmark indices.

The broader market, however, showed relative resilience. The SmallCap index gained around 1.2 per cent during the week, while the MidCap index ended marginally lower.

On Friday, the Sensex edged up just three points to close at 77,540.83, while the Nifty 50 gained 20 points, or 0.08 per cent, to settle at 24,252.

--IANS

pk

New Delhi, Aug 23 (IANS) Union Minister for Commerce and Industry Piyush Goyal, will visit Japan from 24 to 27 August 2026, travelling to Tokyo, Nagoya and Osaka, leading India’s largest-ever business delegation to Japan, comprising more than 200 business representatives and spanning sectors ranging from manufacturing, semiconductors, clean energy and steel to automotive, financial services, healthcare and start-ups, according to an official statement issued on Sunday.

The visit reflects the scale of ambition both nations bring to their Special Strategic and Global Partnership, and comes at a time when India and Japan are looking to significantly deepen trade and investment ties, the statement said.

In Tokyo, the Minister will hold a series of meetings with the top leadership of major Japanese conglomerates and industrial houses that have long been partners in India’s growth, alongside a round-table with Keidanren (Japan Business Federation), the apex body representing over 1,500 leading Japanese companies. Dedicated sessions are planned on semiconductors and artificial intelligence, start-ups, and engagement with foreign institutional investors, reflecting India’s growing pull as an investment and innovation destination.

The Minister will also hold bilateral talks with his counterpart Japanese counterpart Akazawa Ryosei, Minister of Economy, Trade and Industry (METI), and call on senior members of the Japan’s Government and Parliament, besides interacting with the Indian community in Japan.

In Nagoya, the industrial heartland of Central Japan, the Minister will lead a roadshow with Chukeiren (Central Japan Economic Federation) and the Nagoya Chamber of Commerce & Industry, and engage with the Aichi Prefecture leadership and major manufacturing investors in the automotive and steel sectors.

The visit will conclude in Osaka with an Investors and Business Roadshow, along with meetings with leading Japanese companies across electronics, industrial and consumer sectors, aimed at showcasing opportunities across India’s manufacturing, clean energy and consumer markets.

Japan has consistently been among India’s most trusted partners in investment, technology and industrial collaboration, with Japanese enterprises playing a defining role across India’s automotive, steel, electronics, financial services and infrastructure landscape. The visit is expected to give fresh momentum to bilateral trade and investment ties, and open new avenues of cooperation in high-technology manufacturing and next-generation industries, the statement added.

--IANS

sps/pk

New Delhi, Aug 23 (IANS) As part of India’s push for regenerative agriculture, the country’s farmers are adopting practices such as natural farming, agroforestry, micro-irrigation, integrated farming systems, and scientific soil management, according to the factsheet on Sunday.

Government support has accelerated this transition aimed at rebuilding soil vitality, strengthening ecosystem functions, and improving resilience to climatic variability, while supporting long-term environmental balance and farm prosperity.

As of March 2026, natural farming clusters covered 8.80 lakh hectares and enrolled 18.19 lakh farmers. About 109 lakh hectares have been brought under the Per Drop More Crop scheme. In addition, 25.89 crore Soil Health Cards have been generated since inception.

India’s agriculture and allied sectors have demonstrated strong and sustained progress. During FY16-FY25, it recorded decadal growth of 4.45 percent, the highest in previous decades.

However, years of intensive cultivation, heavy chemical use, and erratic rainfall leave many soils tired and less responsive. Yields that once came easily now demand higher inputs, while heatwaves, dry spells, or excess rain can undo months of labour. For millions of small and marginal farmers, declining soil health often translates into higher costs and uncertain harvests. As a result, the sustainability of farming has become an increasingly important concern and regenerative agriculture has to play a key role, the official statement said.

Regenerative agriculture is a holistic farming approach centred on restoring soil health and enhancing biodiversity. At the same time, it seeks to ensure long-term productivity and resilience in farming systems. Healthy soils support higher food and nutritional output, store more carbon, and promote biodiversity. Unlike sustainable farming, which primarily aims to maintain existing conditions, regenerative agriculture seeks to improve them. It goes a step further by actively rebuilding soil health, enhancing biodiversity, and strengthening ecosystem resilience.

It is based on the principles of minimizing soil disturbance, protecting the living roots of perennial crops, maintaining soil cover, integrating livestock, limiting the use of chemical inputs and enhancing biodiversity.

Regenerative agriculture draws upon a diverse set of farming practices adopted in India. While the spectrum of regenerative approaches is much broader, some of the prominent practices can be broadly classified into the following categories:

Micro-irrigation systems such as drippers, sprinklers, and foggers deliver water directly to plant roots. This reduces water wastage and improves water-use efficiency. By optimizing farm-level water management, these systems enhance crop productivity and strengthen resilience to droughts and water stress. As a result, farming systems become more climate-resilient and economically viable.

Farm Mechanization involves the use of agricultural machinery and equipment to streamline and automate various farm operations. It helps optimize the use of key inputs such as water, fuel, and fertilizers, reducing wastage and lowering the carbon footprint. By enabling timely and precise farm operations, mechanization improves resource management, enhances productivity, and helps reduce the environmental impact of farming.

Nitrogen Fertilizer Management helps reduce nitrous oxide emissions while improving crop productivity. It focuses on selecting the right fertilizer and optimizing application timing and dosage. Other practices include deep placement of supergranular urea and the use of leaf color charts for precise assessment of nitrogen status. The approach also promotes biological inputs such as cyanobacteria and legume intercropping. Overall, these measures improve nitrogen-use efficiency and minimize environmental losses.

Natural farming is a chemical-free agricultural approach rooted in India’s traditional knowledge systems. The system relies on on-farm biological inputs such as Beejamrut, Jeevamrut, GhanJeevamrut, Neemastra, and Dashparni, prepared using inputs from native livestock. It also promotes the use of traditional seed varieties and the integration of trees along farm boundaries. Pest management is undertaken through locally prepared, on-farm botanical formulations, the statement added.

--IANS

sps/pk

Mumbai , Aug 23 (IANS) Four of the top-10 most valued companies in India collectively saw their market capitalisation erode by Rs 87,960.29 crore last week.

The Sensex declined 468.42 points, or 0.60 per cent, during the week, while the Nifty fell 114 points, or 0.46 per cent.

Commenting on Nifty technical outlook, experts said that for the coming week, 24,000-23,900 will remain the crucial support zone, while 24,500-24,600 is the immediate resistance area.

"Sustaining above 24,000 and the lower triangle trendline would indicate continued buying interest on declines and help preserve the current technical structure," an analyst stated.

"On the upside, a decisive move above 24,600 could strengthen recovery momentum and attract fresh buying, while a break below 23,900 may increase selling pressure and weaken the near-term setup," a market expert noted.

Bharti Airtel's market valuation declined by Rs 28,052.96 crore to Rs 12,14,963.15 crore, marking the steepest erosion among the country's top-10 most valued firms.

Tata Consultancy Services (TCS) also witnessed a significant decline in valuation, with its market capitalisation falling by Rs 22,070.34 crore to Rs 8,31,436.51 crore.

The market valuation of State Bank of India declined by Rs 20,861.20 crore to Rs 9,64,968.76 crore, while Hindustan Unilever's mcap fell by Rs 16,975.79 crore to Rs 4,73,912.56 crore.

On the other hand, six companies among the top 10 recorded gains in their market valuation during the week.

Life Insurance Corporation of India (LIC) added Rs 12,650 crore to its market capitalisation, taking it to Rs 5,35,980.31 crore. Reliance Industries gained Rs 8,119.53 crore, with its valuation rising to Rs 17,78,175.59 crore.

Larsen & Toubro's market capitalisation increased by Rs 3,487.83 crore to Rs 5,62,460.94 crore, while Bajaj Finance added Rs 3,424.28 crore to reach Rs 6,80,621.62 crore.

ICICI Bank's valuation edged up by Rs 752.47 crore to Rs 10,18,330.45 crore, while HDFC Bank gained Rs 356.95 crore, taking its market capitalisation to Rs 11,21,159.05 crore.

Reliance Industries retained its position as the country's most valued firm by market capitalisation, followed by Bharti Airtel, HDFC Bank, ICICI Bank and State Bank of India.

TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever completed the top-10 list.

--IANS

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New Delhi, Aug 23 (IANS) The Food Safety and Standards Authority of India (FSSAI) on Sunday said that it has taken strict regulatory action against two food businesses in Delhi and Daman after inspections uncovered serious food safety violations and instances of non-compliance.

The food safety regulator has suspended the licence of Marche Retail Private Limited in New Delhi for 30 days with immediate effect, while issuing a prohibition order against SDP Industries Private Limited in Ringanwada, Daman, over non-compliant ghee products and adulteration concerns.

"FSSAI has suspended license of MARCHE RETAIL PRIVATE LIMITED, New Delhi & has issued prohibition order to SDP INDUSTRIES PRIVATE LIMITED, Daman after uncovering serious food safety violations," it said.

In the case of Marche Retail, inspections and a subsequent follow-up inspection found deficiencies in the establishment's design, operational controls, sanitation, personal hygiene, food-handler training and mandatory record-keeping. The required medical records of food handlers were also unavailable, while prescribed food safety and hygiene documentation was not adequately maintained.

Consequently, the FSSAI licence issued to Marche Retail Private Limited has been suspended for 30 days. The food business operator has been directed to immediately cease all food business activities until the identified deficiencies are rectified and compliance is verified by the competent authority.

Separately, FSSAI has issued a prohibition order against SDP Industries Private Limited, Ringanwada, Daman, following enforcement inspections and sampling of multiple ghee products manufactured by the company. The products, marketed under brands including “Shraddha”, “Shree Saras” and “Gokul”, were found to be non-compliant with requirements under the Food Safety and Standards Act, 2006 and the regulations framed under it.

Laboratory analysis of the ghee samples detected beta-sitosterol, a plant sterol that is required to be absent in ghee, along with non-conformity in fatty-acid composition. According to the regulator, the findings were indicative of the presence of foreign or vegetable fats and raised serious food safety concerns.

The food business operator exercised its statutory right to appeal the initial laboratory findings. The appealed samples were subsequently sent to the Referral Food Laboratory for re-analysis, which also confirmed non-conformity in the tested samples, strengthening the basis for regulatory action.

FSSAI said the repeated and continuing nature of the non-compliance across multiple samples, periods and product variants meant that the issue could not reasonably be confined to a particular batch or product.

--IANS

pk

New Delhi, Aug 23 (IANS) The proposed US-India trade agreement is almost finalised in principle, with the two sides now working to settle the remaining legal and technical language, according to US Ambassador to India Sergio Gor.

Speaking at a media event in the national capital, Gor said the broad contours of the agreement had been settled and that the remaining work involved reconfiguring and finalising certain portions of the text.

“The trade deal is, in principle, almost everything is done,” Gor said, attributing the delay in concluding the agreement largely to the need to work through legal and technical language.

The US envoy also addressed concerns over a proposed legislation in the US Congress that could impose tariffs of up to 100 per cent on countries purchasing Russian oil.

He said the measure was being pushed by lawmakers from both sides of the political aisle and stressed that it was not an initiative being advocated by the White House.

“This is not something that you have seen the White House advocate. You won't find a clip of President Trump pushing it,” Gor said.

Acknowledging that such a measure could have implications for India, he said US President Donald Trump remained focused on bringing the Russia-Ukraine conflict to an end.

“President from day one has been wanting to end this war between Russia and Ukraine, and he's determined,” Gor said, calling an end to the conflict “vitally important”.

Gor also highlighted the close relationship between Trump and Prime Minister Narendra Modi, describing their ties as a “deep and personal friendship”. He said both leaders were action-oriented, focused on results and keen to move quickly on issues of mutual interest.

“They are both forward leaning, and they want action fast, and they’re results-driven. Our President has tremendous respect for the Prime Minister,” he said.

Recalling the period when Trump was out of office following the 2020 US presidential election, Gor said PM Modi's continued support had left a lasting impression on the US President.

“When you're up, when you're in the Oval Office, everybody wants to be your friend. But when you're out, that's when you can really realise who your friends are. And Prime Minister Narendra Modi was a true friend to him at that time,” he said.

According to Gor, the mutual trust between the two leaders has further strengthened the relationship between India and the US.

--IANS

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