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    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    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
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    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
    Vijayan slams Kerala govt's move to end doorstep pension delivery through cooperative banks
    Kerala to stop welfare pension delivery through cooperative banks, shifts to DBT
    China's exports slow slightly in July despite robust demand for high-tech products
    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    APEDA Organises BIOFACH INDIA 2026 to Promote India's Certified Organic Products and Expand Global Market Access
    RBI bars banks from disabling mobile devices of defaulting borrowers
    Par panel for early conclusion of India-US trade pact, tariff exemptions on key goods
    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
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    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.
    August 7, 2026
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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.
    August 7, 2026
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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.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    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.
    August 7, 2026
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    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
    Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
    August 7, 2026
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    Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
    Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
    August 7, 2026
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    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
    Show AI Summary
    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
    August 7, 2026
    Show AI Summary
    Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
    BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
    August 6, 2026
    Show AI Summary
    Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
    Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
    August 6, 2026
    Show AI Summary
    Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
    An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
    August 6, 2026
    Show AI Summary
    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
    Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
    August 6, 2026
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    Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
    Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
    August 6, 2026
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    Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
    Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.

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      News and Press Release

      Govt. of India working in mission mode to develop robust quality ecosystem in India

      January 30, 2024

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      DPIIT introduces Quality Control Orders for critical products impacting consumer safety like Electrical Accessories, Laboratory Glassware, Hinges, Copper Products and Door Fittings

      The Government of India has been working in mission mode to develop a robust quality ecosystem in India, the hallmark being the accent on superior and safety compliant products to take the economy to higher echelons of growth and development. As part of this endeavor, Quality Control Orders (QCOs) are being rapidly introduced by the Department for Promotion of Industry and Internal Trade (DPIIT) for critical products impacting consumer safety like Electrical Accessories, Laboratory Glassware, Hinges, Copper Products and Door Fittings. These QCOs have the right ingredients for strengthening the quality standards of ‘Made in India’ products, without compromising on the range of goods being made available to the Indian consumer. This focused approach for restricting the circulation of sub-standard products shall be a crucial driver for establishing India as a manufacturing powerhouse synonymous with best-in-class quality products.

      With a view to establish India as a global leader in providing superior quality and safety compliant products, a plethora of reforms have been undertaken for ensuring that the ‘Made in India’ brand resonates with internationally recognized brands that offer premium quality. The guiding force behind this reform centric approach is the vision of the Prime Minister, Shri Narendra Modi, that “If there's a "Made in India" product on any table in the world, the world should have confidence that there is nothing better than this. This will be ultimate. Be it our produce, our services, our words, our institutions, or our decision-making processes, everything will be supreme. Only then can we carry forward the essence of excellence.”

      With the advent of technology, customers are becoming increasingly particular about safety standard related aspects such as the performance parameters, durability, and dependency of the goods. It has become a common practice to check product quality reviews before making a purchase. Maintaining a balance between product quality, price, and innovation in terms of manufacturing strategy is, therefore, of great essence.

      To enforce strong quality standards for enhancing consumer product safety, there is unprecedented policy focus on implementation of Quality Control Orders (QCOs) which is in line with the provisions of the Technical Barriers to Trade (TBT) Agreement of the World Trade Organisation (WTO). The Agreement recognizes that countries can take necessary quality control measures to maintain the quality of its exports, protect human, animal or plant life and safeguard the environment.

      Implementation of QCOs will help India acquire a greater share of the global manufacturing market while enforcing strong quality standards to enhance consumer product safety, prevent circulation of sub-standard products in the Indian market, attract investments and prevent loss of life or any accidents. The imposition of QCOs shall help detect any kind of product defect and malfunction in the initial stage which will be beneficial for both the manufacturers and consumers by way of rationalized costs.

      The Bureau of Indian Standards (BIS) which serves as the National Standard Body of India, is harmonized to a great extent with the relevant International Standards as laid down by the International Organization for Standardization (ISO)/International Electrotechnical Commission (IEC). It is involved in standardization, marking and quality certification of goods and conformity assessment with the underlying objective of providing safe, reliable, and quality goods.

      While the Standards issued by the BIS for any product or process are for voluntary compliance, those notified by the Central Government through issuance of Technical Regulations (TR) primarily through Quality Control Order (QCO) under Scheme-I and Compulsory Registration Order (CRO) under Scheme-II are mandatory in nature.

      Factoring in the importance of inculcating the safety aspect, DPIIT has focused on developing a robust quality ecosystem for products under its purview to provide good quality products and promoting exports of Indian products. This has led to the issuance of more than 60 new QCOs covering approximately 300 product standards, which have not only ensured that reliable products are being made available to the consumers but also improved the manufacturing quality standards, thereby enhancing brand and value of ‘Made in India’ products.

      While implementation of QCOs is being introduced for various product categories, there is increased focus on products, the violation of standards for which, can pose threat to safety of consumers by causing severe harms and injuries as they are widely present in households. Therefore, QCOs have been recently notified for ‘Steel Wires/ Strands, Nylon Wire Ropes and Wire Mesh’, ‘Hinges’, ‘Safes, Safe Deposits Locker Cabinets and Key locks’, ‘Laboratory Glassware’ and ‘Electrical Accessories’, among many others. All of the aforementioned products have great usage and applicability in everyday activities, highlighting the criticality of having well-defined standards for them to avoid any unforeseen incidents.

      The implementation of QCOs is an extensive exercise which encompasses DPIIT’s continuous engagement with relevant stakeholders for identification of products for which QCOs could be issued. Post the identification, BIS is consulted on various aspects including, Indian Standards, Suitable Conformity Assessment Scheme, availability of BIS test labs or BIS recognized Test Labs and Product Manual. This is followed by the preparation of draft QCO, on which consultations are held with the industry and relevant stakeholders.

      Post the incorporation of comments from the industry, the draft QCOs are approved by the Union Minister of Commerce and Industry followed by legal vetting by Department of Legislative Affairs. Subsequently, the QCOs are uploaded on the World Trade Organisation (WTO) website for 60 days, inviting comments from WTO member countries. These comments from member countries are examined and reviewed, after which the final approval is sought from the relevant Central Government authority for notifying the QCO. To facilitate smooth implementation of QCOs for Micro and Small Industries several carveouts and relaxations are envisaged in terms of relaxation of timelines.

      QCOs are implemented by BIS through Grant of License and/or Certificate of Conformity. With the notification of QCO, manufacturing, storing and sale of non-BIS certified products are prohibited. The violation of the provision of the BIS Act can attract a penalty up to 2 years of imprisonment or with fine of at least Rs 2 lakh for the first offence which increases to Rs 5 lakh minimum for the second and subsequent offences.

      In the spirit of strong industry-government partnership for developing a robust quality ecosystem in India, DPIIT conducts regular consultations with industry members, sectoral associations, and relevant stakeholders to ensure that the QCOs being issued are attuned with their needs and requirements. Further, after the notification, several initiatives are undertaken about the newly implemented QCOs to develop awareness and sense of ownership in industry at a pan-India level. These extensive consultations ensure that the views, feedback, and technical inputs are taken into consideration of the authorities for smooth implementation.

      The safety and well-being of the consumers is of paramount importance for which continued efforts shall be made to introduce QCOs for products. Adherence to safety standards will play a pivotal role in controlling the production and distribution of substandard products which will be a major step in enhancing the value of ‘Made in India’ products. The key for India is to create awareness among the manufacturers and service providers across the supply chain about quality. As there is reimagined focus on quality to avoid accidents, QCOs have become an integral element to foster consumer trust.

      Going forward, QCOs shall therefore, play a pivotal role in enhancing the credibility and value of Indian products while promoting homegrown brands and minimizing inefficiency of any nature. It is indeed imperative to balance between ‘Zero Defect’ that is delivering at par with the global standards and ‘Zero Effect’ that is ensuring that there are no negative environmental implications or compromise on sustainability.

      As emphasized by the Prime Minister, it is the opportune moment to work with the ethos of ‘Zero Effect, Zero Defect’ and with ‘Vocal for Local’ reverberating in every household, it is time to ensure that our products meet global standards, especially in terms of safety.  The initiative on QCOs shall help develop world-class products of superior quality in India, thereby fulfilling the Prime Minister’s vision of creating an ‘Aatmanirbhar Bharat’.

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