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    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
    Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India'
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    Rupee settles with 5 paise gain at 95.17 against US dollar
    India weathered Hormuz disruption without fuel shortages: Puri
    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
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    August 9, 2026
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    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.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    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.
    Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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".

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      How Trump could answer Palestinian question

      January 13, 2025

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      Sydney, Jan 13 (360info) The re-election of Donald Trump as the next US President was greeted in the Middle East with a mixture of rapture and dread, especially among Palestinians.

      While it is impossible to know exactly how a second Trump Presidency will act toward the Palestinian people and their demands for statehood, his first Presidency provides a guide to what they might expect.

      Like all his predecessors, in his first term, President Trump’s dealings with Israelis and Palestinians were overwhelmingly influenced by domestic political pressures, which meant unwavering support for Israel. However, true to the nature of his norm-breaking first term, Trump often dismissed long-held diplomatic norms in search of a resolution to the Palestinian/Israeli conflict.

      By doing so, his Administration sought to remove any obstacles to “peace” between Palestinians and Israelis – a “peace” that would paradoxically see the end of any hope for a Palestinian state.

      In 2017, the US announced that its embassy in Israel would relocate from Tel Aviv to West Jerusalem. While Israelis celebrated this news, it ran against diplomatic conventions concerning the status of Jerusalem, which had been in operation since 1967.

      Jerusalem divided The 1948 War of Independence divided Jerusalem, with East Jerusalem controlled by Jordan and West Jerusalem by Israel. When Israel captured East Jerusalem in 1967, it was hugely symbolic because it meant that for the first time in almost two millennia, Jews controlled all the ideologically, religiously, politically, and culturally significant city of Jerusalem.

      Nevertheless, the international community refused to accept Israel’s occupation nor its subsequent annexation of East Jerusalem in 1980, declaring that the negotiations concerning the two-state solution would decide the fate of Jerusalem. Consequently, most states have their embassies in Tel Aviv. Palestinians and Israelis interpreted the Trump administration’s decision as US recognition of Israeli sovereignty of all Jerusalem.

      Second, in November 2019, the Trump administration declared that Israeli settlements in the West Bank and East Jerusalem were consistent with international law. Israel began building settlements in the West Bank and East Jerusalem soon after their victory in the 1967 War.

      Settlements expanding According to Peace Now, in 2023, approximately 465,000 Israeli settlers were living in the West Bank, located in over 350 settlements and outposts. There were also an additional 230,000 Israelis living in settlements in East Jerusalem.

      The administration’s decision mirrored the long-held Israeli legal argument that the settlements are not illegal because the international community never deemed Jordan’s occupation of the West Bank and East Jerusalem as legal. As these territories were not part of Jordan’s sovereign territory, they could not be “occupied” by Israel, meaning it could settle the land as it wished.

      Nevertheless, this position ran contrary to Article 49 of the Fourth Geneva Convention, which states that: “the Occupying power shall not deport or transfer parts of its civilian population into the territory it occupied.” Consequently, the international community, including the United Nations, the International Criminal Court (ICC), and the International Court of Justice (ICJ), has consistently deemed Israeli settlements as illegal and as impediments to any peace agreement between Palestinians and Israelis.

      However, the administration’s rationale for its decision was that declaring the settlements illegal only restrains and impedes the negotiation process and, thus, any progress towards a successful resolution of the Palestinian/Israeli conflict.

      Around the same time, the Trump administration announced that it would no longer contribute funding to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), the principal UN aid agency for Palestinians.

      What followed was a budget cut of 30%, culminating in profound humanitarian effects on Palestinians, especially for Gazans, who relied heavily on UNRWA’s provision of essential services to survive after Israel placed the Strip under siege following Hamas’s election victory in 2006.

      Again, the administration’s position mirrored that of the Israeli government, which has long criticised UNRWA for allegedly supporting terrorism. Pointedly, Israel’s position is motivated by its belief that UNRWA’s aid undercut its ability to manipulate Hamas’s government in Gaza by determining how much assistance it let into the Strip. UNRWA also reports back to the UN about the dire humanitarian situation in the Occupied Palestinian Territory , highlighting the deprivations and human rights abuses of Israel’s occupation and siege.

      Trump’s “Deal of the Century” In 2020, the Trump Administration published its so-called “Deal of the Century”, intending to resolve the Palestinian/Israeli conflict finally. However, Palestinians rejected the plan outright, incensed by proposals to rescind Jordanian custody of Haram al-Sharif and transfer control to Israel.

      Haram al-Sharif, or the Dome of the Rock mosque, is the third holiest site in Islam. When Jordan signed a peace agreement with Israel in 1994, Israel agreed to recognise Jordan’s custodianship of the Muslim holy sites in Jerusalem, specifically Haram al-Sharif. Rescinding control of Haram al-Sharif to Israel meant it would control all the disputed city.

      Importantly, for Palestinians in any peace agreement with Israel, East Jerusalem would become the capital of the future Palestinian state — without East Jerusalem, there can be no Palestine.

      While things changed marginally under the Biden Administration, the asymmetry between Palestinians and Israelis increased dramatically following the October 7 attacks. Given Trump’s overwhelming support for Israel, there is little indication that Palestinians will be given equitable treatment in his second term.

      How far does Trump’s support for Israel go? During the Presidential campaign, Trump stated on several occasions that he wanted Israel to win the war quickly. On 3 December, Trump posted on social media that Hamas needed to release all remaining hostages before he took office on 20 January 2025. Otherwise, there would be “hell to pay in the Middle East, and for those in charge…”.

      While it is uncertain exactly what this may entail, the incoming Administration would likely support Israel’s efforts to find those hostages, irrespective of what that might involve. The future is equally bleak for the prospects of a Palestinian state, with Israel’s ultra-nationalist Finance Minister, Bezalel Smotrich, issuing a statement soon after Trump’s re-election voicing his hope that the incoming Administration would support Israel’s claim of sovereignty over all the West Bank. Smotrich also oversees the administration of Israel’s occupation of the West Bank and East Jerusalem.

      Soon after issuing the statement, he instructed the Israeli Defence Ministry’s Settlement Directorate and Civil Administration to prepare for annexation. Any such move would sound the death knell for any Palestinian state.

      The only saving grace for Palestinians is that any annexation would almost certainly create a diplomatic storm throughout the Arab world, especially in light of the ICC accusing Netanyahu and his Defence Minister, Yoav Gallant, of war crimes and crimes against humanity due to Israel’s actions in Gaza and the West Bank that have seen more than 45,000 Palestinians killed.

      The last time that the Arab world felt so aggrieved and diplomatically embarrassed was after the 1967 and 1973 Wars. Following the 1967 War, Egypt closed the Suez Canal for eight years, while after the 1973 War, OPEC implemented a 5-month oil embargo on all states that supported Israel, including the US, creating an international energy crisis. A repeat of either or both scenarios would be catastrophic for global trade.

      Whether President Trump would risk such a calamity by supporting Israel’s ultra-nationalist agenda is again uncertain. What is more certain is that the President holds little respect for diplomatic conventions and considers himself a deal-maker, meaning that he could indeed gamble on being able to make the Arab world bend to his diplomatic will without having to compromise too much on US support for Israel. (360info) SCY SCY SCY

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