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    RBI MPC preferred wait-and-watch stance amid food and fuel inflation risks: Minutes
    Bihar Police arrests man over alleged exam irregularities
    United Arab Emirates suspends trade with Iran after coming under renewed missile fire
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    Instant Credit Card Application With JioFinance: Step-by-Step Guide
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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
Show AI Summary
Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
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.
August 19, 2026
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Foreign exchange market conditions supported marginal rupee strength despite crude oil pressures, regional tensions and oil-company dollar demand.
Foreign exchange market conditions reflected a marginal strengthening of the rupee against the US dollar in early trading, supported by reported Reserve Bank of India intervention, a softer dollar index and foreign institutional equity inflows. Higher global crude oil prices, West Asia tensions and oil-company demand for dollars continued to exert pressure, resulting in a range-bound trading environment.
August 19, 2026
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Competition approval for Tata Steel's share acquisition restructures ownership of logistics joint venture following an existing partner's exit.
Competition approval has been granted for Tata Steel Ltd.'s acquisition of IQ Martrade Holding Und Management GmbH's entire 23% equity shareholding in TM International Logistics Ltd., resulting in IQ Martrade's exit. Following completion, Tata Steel and NYK (Europe) B.V. will hold 74% and 26% equity shareholding, respectively. TM International Logistics primarily serves Tata Steel's logistics and cargo transportation requirements through railway cargo transportation, port operations and cargo handling, freight forwarding, and value-added logistics services.
August 19, 2026
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Competition approval enables increased insurtech shareholding through a rights issue, crossing the prescribed ownership threshold in insurance businesses.
Competition approval has been granted for General Atlantic Singapore ACK Pte. Ltd. to acquire additional shareholding in Acko Technology & Services Private Limited through the target's rights issue, resulting in the acquirer crossing the 25% shareholding threshold on a fully diluted basis. The target is an Indian insurtech company with subsidiaries conducting licensed general and life insurance businesses, while another subsidiary awaits a corporate agency licence for insurance-policy distribution.
August 19, 2026
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India-Japan investment partnership prioritises technology, manufacturing and infrastructure collaboration, with Uttar Pradesh positioned for deeper Japanese commercial engagement.
India-Japan economic cooperation is positioned for deeper investment and commercial partnerships in manufacturing, technology, infrastructure, energy, defence, artificial intelligence, semiconductors, critical minerals, batteries and next-generation mobility. Uttar Pradesh is identified as a prospective destination for Japanese investment because of its workforce, connectivity, manufacturing base, MSME sector, export capacity, transport infrastructure and industrial clusters. Investment facilitation is associated with reforms in ease of doing business, digital public infrastructure and multimodal logistics.
August 19, 2026
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Carbon border adjustment compliance requires reliable emissions data, reporting, accreditation and verification throughout exporters' supply chains.
European Union Carbon Border Adjustment Mechanism compliance requires exporters to address covered products, embedded-emissions calculation, data collection, reporting, accreditation and verification. Preparedness across the export value chain depends on timely emissions data from suppliers and other stakeholders, supported by credible verification mechanisms. Capacity-building and engagement seek to facilitate workable compliance with evolving sustainability-related international trade requirements.
August 19, 2026
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Youth banking engagement promotes sustained customer relationships through digital access, campus outreach and financial support across evolving life stages.
Public Sector Banks and Public Financial Institutions are urged to implement actionable strategies with clear ownership and realistic timelines. Youth banking engagement is to be strengthened through a focused campaign, a common digital access platform and physical outreach, supporting young customers' evolving financial needs. Priority sector lending requires granular monitoring, early identification of target gaps and productive credit flow to intended beneficiaries. Agriculture and horticulture value-chain financing may cover farmer producer organisations, storage, processing, logistics and market linkages, while credit card strategies include digital onboarding, cross-selling and RuPay-UPI integration.
August 18, 2026
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Port connectivity obligations shape Vizhinjam export-import operations, logistics integration, infrastructure acceleration, and scrutiny of prior stakeholder notification.
Vizhinjam port concession obligations include road and rail connectivity to maximise the benefits of export-import operations. The State government proposes land acquisition funding for a ring-road project, is engaging with central ministries on rail connectivity, and is seeking to expedite national-highway construction. Mission Samudra is intended to connect Cochin port and 18 mini ports with Vizhinjam to support lower-cost, faster exports. Concerns were also raised over the State government not receiving prior intimation of a proposed stake transfer in the port project company.
August 18, 2026
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Public sector banking competitiveness requires distinct institutional strengths, early capability building and strategic support for economic growth priorities.
Public sector banks are urged to use their customer base, branch networks, geographic reach, institutional experience and digital capabilities to build stronger competitive positions and leadership. Each bank may develop distinct areas of excellence based on geography, customer relationships, sectoral expertise, technology capabilities or international presence. Strategic priorities include deposit mobilisation, banking for youth, support for investment and global capability centres, agriculture and horticulture infrastructure, credit-card business reorientation and priority sector lending.
August 18, 2026
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Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement.
Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.

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News and Press Release

Up-gradation of functionalities for subscribers by the Central Recordkeeping Agencies (CRAs) for April - June Quarter ended on 30-06-2017

August 22, 2017

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Pension Fund Regulatory and Development Authority (PFRDA) is established by the Government of India for regulation and development of Pension Sector in order to protect the old age income security of subscribers. PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National Pension System (NPS) like new functionality development under NPS architecture, simplification of account opening, withdrawal, grievance management etc. In this regard, during the Quarter ended on  30.06.2017, various functionalities have been released by the Central Recordkeeping Agencies (CRAs) i.e. NSDL e-governance Infrastructure Limited and Karvy Computershare Pvt. Ltd to facilitate the ease of operation for the benefit of subscribers. These are detailed below:

NSDL e-Governance Infrastructure Limited

Sr. No.

Functionality

Description

Release Date

1

Annual Freezing

Subscriber account would be unfrozen on minimum contribution of ₹ 500 in any of the Financial Year.  The Subscriber would be allowed to contribute through normal process i.e. through any POP or through eNPS

4-Apr-17

2

NPS Mobile App - Aadhaar Seeding

The Subscriber can now link his/her Aadhaar to NPS account using Mobile App.

4-Apr-17

3

NPS Mobile App - Captcha in Contribution Screen

In Mobile App, the Subscriber has an option to submit the contributions without logging into App, routed through Captcha

4-Apr-17

4

NPS Mobile App - Reset password using OTP

Subscriber can now reset his/her password using Mobile App through OTP. This option is in addition to the option of resetting password using secret question.

4-Apr-17

5

Scheme Preference Change

Now, the Subscribers (other than Govt.) will have facility to change PFM once and Investment Option (active or auto choice) as well as Asset Allocation Ratio twice in a Financial Year.                                        

4-Apr-17

6

NPS Mobile App - Tier II Withdrawal

Subscriber can now initiate Tier II account withdrawal under NPS using Mobile App and funds will get transferred to Subscriber's Bank Account registered with CRA.

8-Apr-17

7

Interoperability between CRAs

Now, Subscribers have option to open account with either of the CRAs. The existing Subscriber can also select CRA of his/her choice, once in a year. The target CRA will facilitate the shifting request under NPS.

15-Apr-17

8

New Payment Gateway – BillDesk

In eNPS, alongwith SBI ePay, BillDesk has been integrated as the second Payment Gateway Service Provider for ease of online contribution by the subscriber.

4-May-17

9

NPS Mobile App - Hindi version

The bilingual version of Mobile App has been developed for convenience of NPS Subscriber.

15-May-17

10

Transaction Statement - view

The Subscriber can access their Transaction Statement through CRA NPS Lite website (www.npslite-nsdl.com).

7-Jun-17

11

NPS Mobile App - enhancement

“Remember PRAN” in the APP is enabled. Now, Subscribers need not enter 12 digit PRAN every time they login.

8-Jun-17

12

NPS Mobile App - NPS Lite/APY

Similar to NPS Regular, Mobile  App is introduced for NPS Lite/APY Subscribers. In 1st phase, following features are released for NPS Lite/APY Subscribers.
1. Statement of Holding
2. Statement of Transaction (pdf download)
3. Subscriber details view
4. Last three Contribution details

17-Jun-17

13

Grievance - enhancement

Subscribers under NPS Lite have facility to raise grievances in Central Grievance Management System (CGMS) against CRA/ Nodal Office / NPS Trust.

23-Jun-17

14

eNPS - Service Tax replaced with GST

Replacement of existing Service Tax to GST;
1. Receipts will be have label as GST and will be having 18% calculated amount
2. Labels/text which shows payment gateways charges is being modified to display GST & 18% instead of service tax and 15%
3. The Service tax element which was charged for the trail commission during subsequent contribution payment through online payment mode in eNPS will be termed as GST

30-Jun-17

 

Karvy Computershare Pvt. Ltd

Sr. No.

Functionality

Description

Release Date

1

Mobile App

Mobile App for NPS Subscribers who are registered with Karvy CRA. Subscriber can download the NPS Mobile App from Google Play store by searching the name “NPS by Karvy-CRA”.

13-Apr-17

2

e-Sign

The e-Sign facility has been implemented for Subscriber registering (Tier I or Tier I & Tier II) through eNPS using Aadhaar authentication and the same is now available for Subscribers.

21-Apr-17

3

CGMS

Following facility has been developed:
1. If the Subscriber is not satisfied with the resolution provided by the entity, then subscriber can escalate the grievance to NPS Trust.
2. If the subscriber grievance is not resolved within 30 days, subscriber can escalate to NPS Trust.

29-Apr-17

4

SMS/Email

Subscriber will get to know that the PRAN Kit has been dispatched by CRA.

29-Apr-17

5

Missed Call Service

Subscriber can now just give a missed call to 9212993399 through his/her registered mobile number for knowing his/her balance in NPS account.

26-May-17

6

Mobile App

Now the online contribution facility has been made available outside the login. In this case, Subscribers details will be authenticated through OTP and contribution will be allowed.

26-May-17

7

Mobile App

Currently, Mobile App for Karvy CRA Subscribers is available for Android users. Now the same has been made available for iOS users. The following features are provided through the Mobile App:
1. View your Profile details.
2. View current Holdings
3. Request for Transaction Statement on registered Email ID.
4. Change contact details like Telephone, Mobile no. and Email ID.
5. Change Password facility
6. View Last 5 contribution transactions carried out
7. Contribute in NPS Tier I as well as Tier II account
8. Change Scheme Preference
9. One Way Switch request (from Tier II to Tier I)
10. Tier II withdrawal request
11. Modify address using Aadhaar
12. Grievance/Enquiry
13. Generate Password
14. Online contribution without login

31-May-17

8

Interoperability

Interoperability between both the CRAs has been implemented. The changes related to shifting of Corporate Subscriber from one CRA to another CRA has been made available.

05-Jun-17

9

GUI

Positioning and label of the "Generate/Reset Password" has been changed to make it more subscriber friendly.

30-Jun-17

10

GUI

Following are the message w.r.t. Service Tax has been changed to display the GST instead of Service tax:
1. Change of Payment Gateway charges message in eNPS like Transaction charges plus GST@18% (based on PGSP confirmation)
2. Change of e-Sign message regarding charges like GST instead of Service Tax

30-Jun-17

11

Limited Access View

Limited access View (Without login) - A link has been made available on CRA system wherein Subscriber/Nodal Office can check the status of various request without login into CRA system. Subscriber/Nodal office has to enter the PRAN or Ack ID or Receipt No (as per request) and latest status will be displayed. Following are the request type has been considered:
1. Subscriber registration status
2. PRAN kit dispatch
3. Contribution status
4. Grievance status
5. Withdrawal status

30-Jun-17

 

Topics

Acts Income Tax