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    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
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    India weathered Hormuz disruption without fuel shortages: Puri
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    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
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    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
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    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
    DRI intensifies vigil along India's North-Eastern Frontier
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    August 8, 2026
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    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
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    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
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    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
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    August 8, 2026
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    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.
    August 8, 2026
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    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.
    August 8, 2026
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    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.
    August 8, 2026
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    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.
    August 8, 2026
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    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.
    August 7, 2026
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    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.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
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    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
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    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
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    August 7, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
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    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
    August 7, 2026
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    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.

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      News and Press Release

      13,18,192 sellers registered in the Government e-Marketplace (GeM) to sell their products directly to various Government departments and organizations

      February 8, 2023

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      There are 13,18,192 sellers who have registered themselves in the Government e-Marketplace (GeM) to enable them to sell their products directly to various Government departments and organisations, the Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel said in reply to a parliamentary question today.

      The state and year-wise details of number of various Government departments, organization and new suppliers registered on Government e-Marketplace (GeM) which enables them to sell on GeM are mentioned in enclosed Annexure.
      There is no definition of an active supplier on GeM. Registered suppliers decide to participate in any bid depending on their interest, availability of products and other factors. All the registered sellers have equal opportunity to participate in the marketplace and bids. Successful award of an order is contingent on the requirement given by the buyer and the ability of seller to meet the requirement by offering the most competitive price.
      As on 01-02-2023 total 1,01,525 sellers have participated in the Portal from Gujaratwhich is about 8.34 % in comparison to the rest of country figure.

      Annexure

      The state and year-wise details of number of various Government departments, organisation and new suppliers registered on Government E-Marketplace (GeM) which enables them to sell on GeM portal are as under:

      Buyer Details:

      Fiscal Year Wise Buyer Registration

      Fiscal Year

      No. of Primary Users

      No. of Secondary Users

      FY16-17

      2,286

      3,091

      FY17-18

      18,886

      50,459

      FY18-19

      13,975

      33,977

      FY19-20

      10,053

      28,063

      FY20-21

      6,892

      24,669

      FY21-22

      7,607

      22,371

      FY22-23 (till 01.02.23)

      6,560

      15,327

       

      66,259

      1,77,957

       

      State/UT wise distribution of Buyers

      State/UT

      No. of Primary Users

      No. of Secondary Users

      ANDAMAN AND NICOBAR ISLANDS

      263

      907

      ANDHRA PRADESH

      1,341

      2,359

      ARUNACHAL PRADESH

      357

      636

      ASSAM

      1,207

      2,431

      BIHAR

      3,628

      5,037

      CHANDIGARH

      598

      2,216

      CHHATTISGARH

      1,463

      4,294

      DADRA & NAGAR HAVELI

      68

      178

      DAMAN & DIU

      177

      260

      DELHI

      3,268

      21,450

      GOA

      313

      544

      GUJARAT

      4,649

      14,056

      HARYANA

      2,053

      5,142

      HIMACHAL PRADESH

      894

      3,907

      JAMMU & KASHMIR

      5,240

      8,703

      JHARKHAND

      1,556

      3,991

      KARNATAKA

      2,757

      5,480

      KERALA

      3,671

      5,399

      LADAKH

      26

      133

      LAKSHADWEEP

      20

      43

      MADHYA PRADESH

      5,109

      17,414

      MAHARASHTRA

      6,152

      17,349

      MANIPUR

      279

      424

      MEGHALAYA

      228

      625

      MIZORAM

      126

      179

      NAGALAND

      207

      318

      ODISHA

      2,254

      4,225

      PUDUCHERRY

      214

      672

      PUNJAB

      2,281

      3,744

      RAJASTHAN

      2,708

      7,173

      SIKKIM

      171

      249

      TAMIL NADU

      2,216

      6,926

      TELANGANA

      1,087

      2,776

      TRIPURA

      280

      701

      UTTAR PRADESH

      5,792

      18,996

      UTTARAKHAND

      1,358

      3,044

      WEST BENGAL

      2,248

      5,976

       

      66,259

      1,77,957

      Seller Details:

      There are 13,18,192 sellers who have registered themselves in the Government e-Marketplace (GeM) to enable them to sell their products directly to various Government departments and organisations. Details are as under –

      Year Wise Details

      Fiscal Year

      Number of new suppliers who have registered themselves on Government e-Marketplace (GeM) and completed their profile to enable them to sell on GeM

      FY16-17

      3,251

      FY17-18

      31,686

      FY18-19

      78,647 

      FY19-20

      94,496 

      FY20-21

      8,42,925 

      FY21-22

      1,59,711 

      FY22-23 (till 01.02.23)

      1,07,466 

       

      13,18,192 

       

      State wise Details

      State /UT

      Number of suppliers who have registered themselves on Government e-Marketplace (GeM) and completed their profile to enable them to sell on GeM

      ANDAMAN AND NICOBAR ISLANDS

      2,216

      ANDHRA PRADESH

      54,275

      ARUNACHAL PRADESH

      1,830

      ASSAM

      20,647

      BIHAR

      35,912

      CHANDIGARH

      5,120

      CHHATTISGARH

      19,255

      DADRA AND NAGAR HAVELI

      762

      DAMAN AND DIU

      470

      DELHI

      87,841

      GOA

      2,624

      GUJARAT

      1,01,525

      HARYANA

      45,407

      HIMACHAL PRADESH

      7,930

      JAMMU & KASHMIR

      21,096

      JHARKHAND

      22,882

      KARNATAKA

      61,851

      KERALA

      30,747

      LADAKH

      338

      LAKSHADWEEP

      30

      MADHYA PRADESH

      57,804

      MAHARASHTRA

      2,24,299

      MANIPUR

      7,473

      MEGHALAYA

      1,939

      MIZORAM

      939

      NAGALAND

      2,075

      ODISHA

      28,306

      PUDUCHERRY

      2,608

      PUNJAB

      35,921

      RAJASTHAN

      63,450

      SIKKIM

      347

      TAMIL NADU

      96,155

      TELANGANA

      53,025

      TRIPURA

      5,614

      UTTAR PRADESH

      1,48,122

      UTTARAKHAND

      16,900

      WEST BENGAL

      50,457

       

      13,18,192

      *****

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