Announcements & other updates
The Ministry of Finance announced on 21 October 2026 that India and New Zealand have signed a Memorandum of Cooperation (MoC) to electronically exchange origin data for trade in goods. This agreement, signed on 19 October 2026, aims to make cross-border trade more efficient and secure by using digitalisation to reduce information gaps.
- Who it affects
- eligible businesses
- When · Where
- From 20 October 2026: India-New Zealand FTA (+1 more) · India and New Zealand
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 21 October 2026
- The link opens
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- Our check
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Announcements & other updates
The Ministry of Finance announced on 19 October 2026 that the Directorate of Revenue Intelligence (DRI) dismantled a gold smuggling syndicate operating in Gujarat. The operation exposed dealings involving 13.017 kg of foreign-origin gold valued at approximately Rs. 19.41 crore, brought in through Ahmedabad and Surat airports.
- Who it affects
- persons
- When · Where
- On 16 October 2026: start of coordinated searches · Gujarat
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 19 October 2026
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Announcements & other updates
The Ministry of Finance stated on 17 October 2026 that the Central Government is legally permitted to dilute or divest its stake in IDBI Bank. This clarification follows reports regarding 2003 legislative debates; the Ministry noted that an amendment to restrict stake dilution was rejected and not included in the final IDBI (Repeal) Act, 2003.
- Who it affects
- Central Government
- When · Where
- On 17 December 2018: Delhi High Court decision in All India IDBI Officers’ Association v. Union of India & Others · Across India
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 17 October 2026
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Announcements & other updates
The Ministry of Finance announced on 15 October 2026 that the Directorate of Revenue Intelligence (DRI) and the Central Bureau of Narcotics (CBN) destroyed illicit cannabis cultivation in a wildlife sanctuary in District Dhule, Maharashtra. On 14 October 2026, a joint team located and destroyed crops across five stretches of land totaling 2.87 hectares (7.08 acres) using a rotavator.
- Who it affects
- illicit cannabis cultivation
- When · Where
- On 14 October 2026: joint team of DRI and CBN reached the wildlife sanctuary to destroy cannabis · wildlife sanctuary near village Jamniapani, Shirpur, District Dhule, Maharashtra
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 15 October 2026
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Announcements & other updates
The Ministry of Finance announced on 14 October 2026 that M/s 10955230 Canada Inc. has been approved as the strategic buyer for IDBI Bank Ltd. The transaction involves the sale of a 60.72% stake, consisting of 30.48% from the Government of India and 30.24% from the Life Insurance Corporation of India (LIC), for Rs 52,878.0806181 crore. The Government and LIC will retain residual stakes of 15% and 19% respectively and will become public shareholders.
- Who it affects
- IDBI Bank Ltd
- When · Where
- Not stated in the document · Across India
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 14 October 2026
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Announcements & other updates
The Ministry of Finance announced on 14 October 2026 that the Cabinet Committee on Economic Affairs approved M/s 10955230 Canada Inc. as the strategic buyer for a 60.72% stake in IDBI Bank Ltd. The acquisition, valued at Rs 52,878.0806181 crore, includes a 30.48% share from the Government of India and 30.24% from LIC. The buyer must now present credentials to the Reserve Bank of India and provide a regulatory compliance roadmap.
- Who it affects
- Strategic Buyer
- When · Where
- On 14 October 2026: CCEA meeting to approve Strategic Buyer (+1 more) · Across India
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 14 October 2026
- The link opens
- The original press release on the government website, in a new tab, unchanged.
- Our check
- Drafted from the release text and checked by software. Not yet reviewed by a person.
Announcements & other updates
The Ministry of Finance announced on 14 October 2026 that the Directorate of Revenue Intelligence (DRI) uncovered a network smuggling Pakistan-origin rock salt into India. Through "Operation Deep Manifest," the DRI detected 295 containers of salt with an estimated market value of Rs 30 crore, which were routed through Sri Lanka and used fake UAE-based documents to hide their origin.
- Who it affects
- all importers
- When · Where
- From 2 May 2025: import prohibition on Pakistani goods (+3 more) · Across India
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 14 October 2026
- The link opens
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- Our check
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Announcements & other updates
The Ministry of Finance announced on 11 October 2026 that the Directorate of Revenue Intelligence (DRI) seized 5,832.90 grams of 24-carat foreign-origin gold. The gold, valued at approximately Rs 8.98 crore, was found in a hidden cavity under the front passenger seat of a car intercepted at Visakhapatnam between 8 and 9 October 2026.
- Who it affects
- 2 passengers
- When · Where
- On 8 October 2026: interception of car at Visakhapatnam (+1 more) · Visakhapatnam
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 11 October 2026
- The link opens
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- Our check
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Announcements & other updates
The Ministry of Finance announced on 11 October 2026 that the Directorate of Revenue Intelligence (DRI) seized approximately 7.8 kg of foreign-origin gold valued at over Rs. 11.50 crore. The operations, conducted on 8 and 9 October 2026, targeted a smuggling syndicate using road and rail networks to move gold from the Bangladesh border toward Kolkata.
- Who it affects
- smugglers
- When · Where
- On 8 October 2026: intelligence-led operations to seize gold · eastern region
Source details
- Issued by
- Ministry of Finance
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 11 October 2026
- The link opens
- The original press release on the government website, in a new tab, unchanged.
- Our check
- Drafted from the release text and checked by software. Not yet reviewed by a person.