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    Relevance Default Date
      August 22, 2026
      DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
      August 22, 2026
      National Financial Reporting Authority (NFRA) conducts sixth outreach programmes with focus on small and medium auditors under the theme “Creating a...
      August 22, 2026
      CCI imposes monetary and non-monetary sanctions on Agro Input Dealers Association, Agro Input Welfare Association for indulging in anti-competitive co...
      August 22, 2026
      India-Finland cooperation takes centre stage at circular economy forum
      August 22, 2026
      CCI imposes penalty on Rekha Agencies and SS Marketing for indulging in anti-competitive conduct in respect of Himachal Pradesh Tender 2013 for the pr...
      August 22, 2026
      US is set to impose 50% tariffs on $20 billion worth of Canadian products
      August 21, 2026
      Rupee settles 3 paise higher at 95.71 against US dollar
      August 21, 2026
      29 FDI Investments Worth ₹4,895.65 Crore Reported Under Revised Framework
      August 21, 2026
      India and ADB sign $230 million loan to modernise water supply and sanitation in Chennai
      August 21, 2026
      DGGI unearths clandestine pan masala and tobacco manufacturing network in Uttar Pradesh; 27 undeclared pouch-packing machines seized, evasion of about...
      August 21, 2026
      Mission SAKSHAM: Scaling Capability through Co-operation - Keynote Address by Shri Swaminathan J, Deputy Governor at Mission SAKSHAM Programme for Dir...
      August 21, 2026
      India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
      August 21, 2026
      Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
      August 21, 2026
      China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence
      August 21, 2026
      India's forex kitty swells USD 9.9 bn to USD 716.9 bn
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      August 21, 2026
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      August 21, 2026
      ED can't add old FIR to Enforcement Case Information Report to sustain PMLA proceedings: Delhi HC
      August 21, 2026
      Rupee settles on flat note, 3 paise higher at 95.71 against US dollar
      August 21, 2026
      VinFast India Partners with Federal Bank to Strengthen Dealer Financing Ecosystem
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    August 22, 2026
    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
    Show AI Summary
    Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
    Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
    August 22, 2026
    National Financial Reporting Authority (NFRA) conducts sixth outreach programmes with focus on small and medium auditors under the theme “Creating a Better Financial Reporting Ecosystem” in Ahmedabad
    Show AI Summary
    Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
    Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
    August 22, 2026
    CCI imposes monetary and non-monetary sanctions on Agro Input Dealers Association, Agro Input Welfare Association for indulging in anti-competitive conduct
    Show AI Summary
    Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
    Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
    August 22, 2026
    India-Finland cooperation takes centre stage at circular economy forum
    Show AI Summary
    Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
    India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
    August 22, 2026
    CCI imposes penalty on Rekha Agencies and SS Marketing for indulging in anti-competitive conduct in respect of Himachal Pradesh Tender 2013 for the procurement of tyres
    Show AI Summary
    Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
    Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
    August 22, 2026
    US is set to impose 50% tariffs on $20 billion worth of Canadian products
    Show AI Summary
    Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
    Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
    August 21, 2026
    Rupee settles 3 paise higher at 95.71 against US dollar
    Show AI Summary
    Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
    Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
    August 21, 2026
    29 FDI Investments Worth ₹4,895.65 Crore Reported Under Revised Framework
    Show AI Summary
    Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
    Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
    August 21, 2026
    India and ADB sign $230 million loan to modernise water supply and sanitation in Chennai
    Show AI Summary
    Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
    Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
    August 21, 2026
    DGGI unearths clandestine pan masala and tobacco manufacturing network in Uttar Pradesh; 27 undeclared pouch-packing machines seized, evasion of about ₹185 crore detected
    Show AI Summary
    Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
    Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
    August 21, 2026
    Mission SAKSHAM: Scaling Capability through Co-operation - Keynote Address by Shri Swaminathan J, Deputy Governor at Mission SAKSHAM Programme for Directors, MDs and CEOs of Urban Co-operative Banks in Telangana, Hyderabad on August 7, 2026
    Show AI Summary
    Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
    Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
    August 21, 2026
    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day of the Foreign Exchange Dealers' Association of India (FEDAI) on August 14, 2026] - Keynote Address delivered by Shri Rohit Jain, Deputy Governor on the Annual Day of the Foreign Exchange Dealers' Association of India (FEDAI) on August 14, 2026
    Show AI Summary
    Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
    Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
    August 21, 2026
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
    Show AI Summary
    Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
    Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
    August 21, 2026
    China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence
    Show AI Summary
    Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
    Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
    August 21, 2026
    India's forex kitty swells USD 9.9 bn to USD 716.9 bn
    Show AI Summary
    Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
    India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
    August 21, 2026
    Bengaluru airport: AERA slashes user development fee to Rs 300 for domestic passengers
    Show AI Summary
    Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
    User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
    August 21, 2026
    NUMR Inc. helps deliver Axis Bank's data-driven excellence in customer experience
    Show AI Summary
    Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
    Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
    August 21, 2026
    ED can't add old FIR to Enforcement Case Information Report to sustain PMLA proceedings: Delhi HC
    Show AI Summary
    Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
    Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
    August 21, 2026
    Rupee settles on flat note, 3 paise higher at 95.71 against US dollar
    Show AI Summary
    Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
    Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
    August 21, 2026
    VinFast India Partners with Federal Bank to Strengthen Dealer Financing Ecosystem
    Show AI Summary
    Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
    Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.

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    FEMA & RBI

    Disposal of Complaints received by bank Ombudsman

    August 1, 2017

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    The. Bank-wise details regarding number of complaints received by Banking Ombudsmen (BO) and disposed of in the last three years i.e. 2014-15, 2015-16 and 2016-17 are given in Annexure.

    Majority of the complaints received under the Banking Ombudsman Scheme are resolved through conciliation and mediation of BO. In very few cases, where conciliation and mediation fails to achieve mutually agreeable settlement, BO passes an Award or rejects the complaint.

    Bank-wise details of Complaint received/disposed/pending at  the Offices of Banking Ombudsmen

    Bank Name

    2014-15

    2015-16

    2016-17

    Public Sector Banks

    Received

    Disposed

    Pending

    Received

    Disposed

    Pending

    Received

    Disposed

    Pending

    STATE BANK OF INDIA

    24113

    22750

    1363

    25611

    25635

    1339

    30581

    28610

    3310

    STATE BANK OF BIKANER & JAIPUR

    1199

    1186

    13

    1267

    1197

    83

    2033

    2039

    77

    STATE BANK OF HYDERABAD

    642

    625

    17

    777

    744

    50

    862

    882

    30

    STATE BANK OF MYSORE

    316

    296

    20

    351

    361

    10

    450

    449

    11

    STATE BANK OF PATIALA

    530

    497

    33

    760

    767

    26

    1167

    1109

    84

    STATE BANK OF TRAVANCORE

    790

    766

    24

    819

    837

    6

    849

    782

    73

    ALLAHABAD BANK

    1143

    1095

    48

    1218

    1167

    99

    1413

    1326

    186

    ANDHRA BANK

    682

    680

    2

    1051

    1023

    30

    1307

    1285

    52

    BANK OF BARODA

    3038

    2907

    131

    3916

    3701

    346

    5043

    4889

    500

    BANK OF INDIA

    2808

    2660

    148

    3210

    3127

    231

    4191

    3972

    450

    BANK OF MAHARASHTRA

    590

    561

    29

    652

    645

    36

    845

    758

    123

    CANARA BANK

    2992

    2866

    126

    3838

    3737

    227

    5248

    5029

    446

    CENTRAL BANK OF INDIA

    2095

    1974

    121

    2295

    2262

    154

    2716

    2540

    330

    CORPORATION BANK

    792

    754

    38

    804

    790

    52

    1254

    1143

    163

    DENA BANK

    718

    683

    35

    784

    774

    45

    1140

    1085

    100

    INDIAN BANK

    1246

    1217

    29

    1369

    1345

    53

    1673

    1654

    72

    INDIAN OVERSEAS BANK

    1534

    1494

    40

    2376

    2313

    103

    2633

    2616

    120

    ORIENTAL BANK OF COMMERCE

    834

    788

    46

    1080

    1039

    87

    1522

    1456

    153

    PUNJAB AND SIND BANK

    390

    374

    16

    554

    539

    31

    690

    661

    60

    PUNJAB NATIONAL BANK

    4454

    4265

    189

    4735

    4577

    347

    6227

    5919

    655

    SYNDICATE BANK

    1195

    1146

    49

    1225

    1193

    81

    1416

    1383

    114

    UCO BANK

    1262

    1223

    39

    1406

    1370

    75

    1747

    1709

    113

    UNION BANK OF INDIA

    2141

    2013

    128

    2249

    2249

    128

    2559

    2308

    379

    UNITED BANK OF INDIA

    953

    937

    16

    733

    700

    49

    958

    972

    35

    VIJAYA BANK

    411

    398

    13

    489

    481

    21

    690

    666

    45

    IDBI BANK LIMITED

    854

    808

    46

    10

    9

    47

    2079

    2033

    93

    Bhartiya Mahila Bank

    2

    2

    0

    1453

    1410

    43

    16

    16

    43

     

    57724

    54965

    2759

    65032

    63992

    3799

    81309

    77291

    7817

    CATHOLIC SYRIAN BANK LTD

    82

    81

    1

    80

    78

    3

    66

    66

    3

    CITY UNION BANK LIMITED

    120

    119

    1

    124

    120

    5

    136

    136

    5

    FEDERAL BANK LTD

    331

    327

    4

    387

    376

    15

    503

    467

    51

    JAMMU AND KASHMIR BANK LTD

    157

    146

    11

    168

    168

    11

    140

    133

    18

    KARNATAKA BANK LTD

    163

    162

    1

    140

    138

    3

    222

    207

    18

    KARUR VYSYA BANK LTD

    195

    191

    4

    242

    238

    8

    298

    299

    7

    LAKSHMI VILAS BANK LTD

    102

    100

    2

    166

    167

    1

    120

    116

    5

    NAINITAL BANK LTD

    15

    12

    3

    45

    45

    3

    25

    23

    5

    RATNAKAR BANK LTD

    127

    121

    6

    224

    219

    11

    417

    388

    40

    SOUTH INDIAN BANK LTD

    165

    163

    2

    195

    191

    6

    206

    204

    8

    TAMILNAD MERCANTILE BANK LTD

    133

    133

    0

    122

    118

    4

    144

    144

    4

    THE DHANALAKSHMI BANK LTD

    89

    88

    1

    71

    72

    0

    64

    61

    3

    AXIS BANK LIMITED

    3242

    3080

    162

    4966

    4861

    267

    6748

    6506

    509

    BANDHAN BANK LIMITED

    0

    0

    0

    26

    23

    3

    102

    100

    5

    DEVELOPMENT CREDIT BANK LTD.

    131

    128

    3

    263

    252

    14

    316

    301

    29

    HDFC BANK LTD.

    5684

    5542

    142

    7712

    7815

    39

    9885

    9331

    593

    ICICI BANK LIMITED

    6379

    6097

    282

    7897

    7707

    472

    9541

    9331

    682

    IDFC BANK LIMITED

    0

    0

    0

    1

    1

    0

    29

    24

    5

    INDUSIND BANK LTD

    824

    785

    39

    1214

    1188

    65

    1436

    1393

    108

    KOTAK MAHINDRA BANK LTD.

    1576

    1512

    64

    2394

    2287

    171

    3711

    3608

    274

    YES BANK LTD.

    342

    322

    20

    496

    481

    35

    969

    935

    69

     

    19857

    19109

    748

    26933

    26545

    1136

    35078

    33773

    2441

    AMERICAN EXP. BANKING CORP.

    106

    88

    18

    156

    171

    3

    187

    175

    15

    BARCLAYS BANK PLC

    92

    87

    5

    95

    96

    4

    55

    57

    2

    CITIBANK N.A

    813

    789

    24

    890

    881

    33

    1242

    1173

    102

    DBS BANK LTD.

    11

    10

    1

    13

    11

    3

    28

    28

    3

    DEUTSCHE BANK AG

    63

    58

    5

    90

    89

    6

    105

    94

    17

    HONGKONG AND SHANGHAI BANKING CORPN.LTD.

    298

    288

    10

    403

    385

    28

    415

    408

    35

    ROYAL BANK OF SCOTLAND

    197

    190

    7

    181

    175

    13

    126

    132

    7

    STANDARD CHARTERED BANK

    2012

    1945

    67

    1558

    1557

    68

    1086

    1075

    79

    Others Foreign Banks

    18

    17

    1

    27

    28

    0

    42

    40

    2

     

    3610

    3472

    138

    3413

    3393

    158

    3286

    3182

    262

    RRBs/SCBs/Others

    7247

    7116

    131

    7516

    7188

    459

    11315

    11082

    692

    Grand Total

    88438

    84662

    3776

    102894

    101146

    5524

    130988

    125330

    11182

    * Complaints disposed includes those pending at the end of the previous year

    This was stated by Shri Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Rajya Sabha today.

    Topics

    Acts Income Tax
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