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    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
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August 20, 2026
Show AI Summary
Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
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August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
August 19, 2026
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Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
August 19, 2026
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AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
August 19, 2026
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.

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News and Press Release

Delhi Budget 2015-16 – Highlights

July 1, 2015

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1.     Budget of Government of NCT of Delhi in 2015-16 is proposed at ₹ 41129 crore

  • Plan Budget   ₹ 19000 crore
  • Non-Plan Budget   ₹ 22129 crore

2.     The total estimated expenditure of  Rs. 41 129 crore in 2015-16 is 18 per cent higher than the Revised Estimates of ₹ 34790 crore in 2014-15.

3.1   This is the first ''Swaraj Budget'' of the Country based on valuable inputs, suggestions  of the citizens, academicians, subject matter experts, trade organizations. RWAs, civil society, Corporate sector etc. It is India's first Participatory Budget.

3.2    A new initiative "Swaraj Fund" with a budget provision of ₹ 253 crore is proposed to be created enabling the citizens to prioritize implementation of programmes selected  by them for the development of their area.

3.3   An allocation of ₹ 20 crore is proposed for each of the  11 Assembly Constituencies as a pilot under Swaraj Fund. For remaining  59 Assembly Constituencies an amount of ₹ 50 lakh each is proposed.

3.4   Delhi government accorded the right to the citizens to take the decisions in the process of governance.

4.     A new agency "Delhi Urban Development Agency (DUDA)" is proposed to he set up in each Revenue District to execute the works recommended by Citizens under Swaraj Fund and Hon'ble MLA under MLA Fund.

5.     Total financial support of Rs.  5908 crore is proposed to the local bodies in 2015-16 which is 14.4% of the total budget.

6.1   Government has initiated the process of city governance system and delivery of public services in a most transparent and efficient manner to weed out graft and to make Delhi the first corruption-free State.

6.2   To eliminate possible corruption in issuance of various certificates at the SDM's office Government has launched the e-district services.

7.     Government has taken significant measures like reducing electricity hills. Supplying free `lifeline' water upto 20,000 litre per month for betterment of the life of citizens. An amount of ₹ 1690 crore for subsidy is proposed.

8.     Government of Delhi has decided to create buffer stock of onion & potato and will release it in the market during scarcity of the commodity.

9.     Free Wi-Fi services shall be launched in all colleges and rural areas during 2015-16.

10.    A High power committee has been constituted to review the existing licensing System and to suggest measures to simplify the process. The recommendations of this committee shall be submitted by 31st  July, 2015.

11.   Delhi will soon become the most preferred location for doing business because of case and speed of decision making.

12.   To coordinate requests from International Organizations and other Governments of the World a cell in Finance & Planning Department will be set up.

13.1  Education is the first priority of the government. An amount of ₹ 4570 crore under plan is proposed in 2015-16.  It is more than 106% more than the last year's expenditure of Rs.  2219 crore. It is for the first time in the country, any government  doubled outlay on education.

13.2   Agenda of the government is to provide modern facilities and infrastructure in all 1011 government schools.

13.3   50 schools  will  be  developed  as  Model  Schools  with  modern  facilities and infrastructure. Subsequently all schools to become Model schools. 236 new schools planned.

13.4   CCTV cameras in all the classrooms of government schools will be installed.

13.5   It is expected to recruit 20,000 regular teachers by the end of year to improve student-teacher ratio.

13.6    A Higher Education & Skill Development Guarantee Scheme will be launched. wherein students can get education loan upto  Rs. 10 lakh without any collateral or margin money.

13.7   The interest rates shall be lower than the usual interest rates for educational loan to female students.

13.8   To encourage sports activities the Government has launched the `Pay and Play scheme,' under which common man can avail the facilities in government sports complexes and stadia on nominal user charges.

13.9   Delhi government is working to set up a Skill University for vocational and skill development diploma / degree courses. An amount of' ₹ 310 crore proposed for promotion of Vocational education.

13.10  It is planned to give two certificates to every student when he / she passes 10+2 – one for general education and the other for skill education.    

13.11  Increase in intake capacity of each Government polytechnic planned for 100 seats.

13.12  It is proposed to open three new ITIs in Ranhola. Chhatarpur  and  Bakkarwala. Five new Polytechnics are proposed to be set up; one each in North. North East, Central. New Delhi and West districts of Delhi.

13.13  Netaji Subhash Institute of Technology will he upgraded into a University. It will enhance the student strength from 3000 to 12000 over a period of five years.

13.14  Incubation centre will be setup in Universities & Colleges to promote Research & Development.

14.1    Three new hospitals with total bed capacity of 1800 are planned at Nangloi, Siraspur and Madipur.

14.2    It is planned to remodel and upgrade 11 existing hospitals which will add  4000 more beds in next two years.

14.3    Government is planning to set up 500 "Mohalla Clinic" in all parts of Delhi in the current financial year.

14.4    Five centralized labs with modern facility will be set up in North, South, East, West and Central Delhi to provide diagnostic services to the patients visiting Mohalla Clinic.

14.5    Government is planning to set up an Advance Trauma Care Centre in LN Hospital for sports injury rehabilitation with 100 trauma beds including ICU and OT facilities.

14.6    Online booking of free bed facility in 42 private hospitals for the economical weaker sections is to be made available.

14.7    To maintain health data, record of registration and treatment at different  Hospitals  of Delhi Govt., Health Card to be issued individually.

14.8    Free  medicine  will  be  provided  to  the  citizens  of Delhi  through  charitable clinics/dispensaries.

15.1    Government will procure about 1380 semi low floor buses. 500 midi buses for DTC. Around 1000 more buses under Cluster scheme will be deployed by the end of 2016.

15.2     It is  proposed  to  bring 10.000   buses  of different  specifications,  to  meet  the differentiated needs of commuters, from the private sector under the PPP Cluster scheme.

15.3     About 5500 new auto permits are being released for plying in the NCR.

15.4    It is proposed to construct about 1200 new Bus Queue Shelters.

15.5     About 304 new Mini buses on 64 Metro Feeder routes to be inducted in the current year.

15.6    In order to provide last mile connectivity. Govt. is promoting e-Rickshaw in Delhi. Subsidy of Rs.  15000 on purchase of e-Rickshaw will be provided.

15.7    Delhi Government has made it mandatory for all public transport vehicles including taxis and autos to install GPS for tracking of the vehicle.

15.8    It is proposed to install CCTV cameras in all DTC and Cluster buses.

15.9    Delhi Government has decided to depute marshals in all DTC and Cluster buses to allay the fear of crime and reassure the women commuters of safety and security.

15.10  Passenger Information System to provide real-time information will be introduced.

16.1    Delhi Government is planning to start six Working Women Hostels with active participation from the private sector.

16.2    Government is planning to provide 300 creche facilities in slums and  JJ clusters under Integrated Child Development Scheme.

16.3    Construction of new Old Age Homes is proposed to be started in the current year at Kanti Nagar, Chittranjan Park, Rohini, Paschim Vihar and Chattarpur in Phase I.

16.4    Delhi Government has decided to give compensation of  Rs. 1 crore to the family of Defence Personnel, Paramilitary Force Personnel who have sacrificed their lives while on duty and who are residents of Delhi. The same amount of compensation  will also be given for the sacrifice made by Delhi Police, Delhi Home Guards. Delhi Civil Defence Personnel while discharging their duties.

16.5    Government decided to give ex-gratia relief to the farmers at the rate of  Rs. 20000 per acre to compensate the crop damage caused due to unreasonable rain.

16.6    Shramik Vikas Mission has been launched to ensure payment of notified minimum wages, better welfare facilities to the construction workers and their families.

17.1     A new Water Treatment Plant will be set up in Iradatnagar and existing water treatment plants at Chandrawal and Wazirabad  will be rehabilitated to increase the water production to meet the rising demand of the city.

17.2     A new portal "Public Monitoring of Water Tankers" has been launched enabling people for effective, continuous and strict monitoring of water tankers. More than 400 tankers have been fitted with GPS and water sensors and their movement is being monitored continuously through a web based system.

17.3     A new scheme, "Jan Jal  Prabandhan Yojana" will be launched to involve the community in management of water and sewerage services in a decentralized manner.

17.4     A mobile app will be launched for "Self Meter Reading  and Bill Generation”  to provide water and sewer services to citizens in efficient and friendly manner.

18.      To check unauthorized construction in future, GSDL, will provide satellite image data on  a  regular  interval  to  Revenue  Department  with  clearly  marking  any  new encroachment   /  unauthorized construction  for appropriate action  by  authorities concerned.

19.      An Energy Conservation Fund will be created in the current financial year to finance Energy Efficient Projects and Street Lighting etc.

20.1    To improve air quality about 12  lakh saplings will be planted in the current financial year by all concerned Government Agencies.

20.2    To promote eco-friendly transport in NCT of Delhi  owners of newly purchased Battery operated 4 wheelers and 2 wheelers will be given subsidy by Government of Delhi, in addition to subsidy introduced by Govt. of India.

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