Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits. Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.
Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows. Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains. Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes. DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered. Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets. BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise. ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support. National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer. Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure. Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts. Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility. Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs. Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence. Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets. Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels. Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support. Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers. An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services. Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment. Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
Union Finance Minister Shri Pranab Mukherjee held a meeting with noted economists to get their inputs for General Budget 2011-12, here today. This was the fifth meeting in the series of pre-Budget consultations held by Finance Minister with the stakeholders of different sectors. First meeting was held on 7th January with the stakeholders of agriculture sector followed by meetings with captains of Indian industry on 11th January, representatives of different trade unions on 12th January, 2011 and with different NGOs on last Friday i.e., 14th January, 2010.
While welcoming the economists, in his opening remarks, the Finance Minister, Shri Pranab Mukherjee said that he was keen to have this meeting with Economists as a part of his pre-budget consultation for the preparation of Union Budget 2011-12. He said that he greatly value thier knowledge, experience and exposure to diverse issues, some of which our economy is confronting at present. Shri Mukherjee said that he expects their inputs to help in Budget making and improving the policy management of the economy in the coming months.
Finance Minister, Shri Mukherjee said that we have been fortunate in surviving the global financial crisis without major disruptions and have recovered our growth momentum much faster than most others. In the first half of 2010-11 the Indian economy recorded an overall GDP growth of 8.9 per cent which takes us back on the high growth path that the economy was traversing on in the years prior to the crisis, he said. Shri Mukherjee said that the recovery has been broad based with agriculture, industry and services all contributing to the consolidation of the growth momentum.
Finance Minister, Shri Mukherjee said that the industry has driven the recovery process so far. Though industrial growth during the month of November 2010 has slipped to 2.7 per cent, cumulative growth during April-November 2010-11 is still high at 9.5 per cent compared to 7.4 per cent during the corresponding months of 2009-10, he said. Shri Mukherjee said that with normal monsoons, we are looking at a significant rebound in agriculture and allied sector growth at about 6 per cent. Exports have also done reasonably well with export growth in April-November 2010 at 26.7 percent, said the Minister.
Shri Mukherjee said that this resilience that India has demonstrated in recent times reflects a maturing of the economic management of the country and the growing competitiveness of our enterprise. He said that this has happened even as the economy has become more integrated with global markets.
Finance Minister, Shri Mukherjee said that economic recovery was driven by a deliberate fiscal expansion during and immediately after the global crisis and supported by monetary policy easing. With a broad-based recovery underway, a calibrated exit of stimulus is being implemented as a part of the Budget 2010-11, he said . The Minister further said that the progress in reduction in fiscal deficit for the year 2010-11 is in line with the commitment made in the medium-term fiscal policy statement.
Shri Mukherjee said that this rapid recovery of the growth momentum is comforting, but we cannot be complacent as there are several challenges that the Indian economy faces from its current external and domestic context. Global recovery remains fragile. He said that India's growth momentum, to some extent, is affected by developments in the western world. A faster recovery in the west is in the global interest, he said. The Minister further said that the creeping increase in international crude oil and other commodity prices is a reality that we are already confronting. High food prices, caused in part by severe drought conditions last year, and by rising incomes, have been driving inflation in India. Other countries are also experiencing rising food inflation, he said. Shri Mukherjee said that there has been significant increase in FII inflows even as there has been some moderation in FDI flows. He said that the challenge before the Government and the monetary authority has been to support the recovery process without compromising on price stability. The task has not been easy, the Minister said.
Shri Mukherjee said that our emphasis is on 'inclusive development' and we want the growth process to especially empower and enrich the poorer sections of society. The Government is keen to upgrade the delivery mechanisms in the health and education sectors so that the disadvantaged sections of society are well equipped to benefit from the growth process, he said. The Finance Minister said that we recognize that the demographic dividend will only work for India if our population is healthy, educated and appropriately skilled. Later Shri Mukherjee asked the economists to give their specific suggestions to address the short and medium term concerns of our economy.
Among the economists who attended the meeting include Dr. Partha Sen and Prof. Pulin Nayak both from Delhi School of Economics, Dr. Rajiv Kumar from FICCI, Dr. Ashima Goyal from IGIDR, Prof., Dr. Deshpande from Institute for Socio Economic Change, Shri Ajit Ranade from Aditya Birla Group, Shri Bharat Ramaswamy, ISI, Delhi and Shri Pulapare Balakrishnan from Centre for Development Studies.
Pre budget consultation seeks economist input to balance fiscal consolidation and inflation risks while promoting inclusive growth.
Pre Budget consultation sought economist inputs to shape Union Budget 2011 12, reporting broad based economic recovery and specifying a calibrated exit from stimulus in line with medium term fiscal consolidation. The Minister highlighted macroeconomic challenges-fragile global recovery, rising commodity and food prices, and volatile capital flows-and requested recommendations to balance support for growth with price stability while prioritising inclusive development through improved health, education and skills investment.
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