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    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
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    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
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    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
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    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.
    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
    Show AI Summary
    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
    Show AI Summary
    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
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    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
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    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
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    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.

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      Royal Stag BoomBox - The Experiential Music Festival Returns With Its 3rd Edition

      January 20, 2025

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      Mumbai, Maharashtra, India – Business Wire India • Seagram’s Royal Stag brings back the experiential music festival, Royal Stag BoomBox that celebrates the coming together of diverse genres of music – Bollywood and Hip-hop.

      • Creating new beats and an original soundscape, this year’s line-up includes eminent artists - Armaan Malik, Amit Trivedi, Neeti Mohan, Nikhita Gandhi, Raftaar, Ikka and DJ Yogii.

      Seagram’s Royal Stag BoomBox returns for its third edition, blending Bollywood's iconic melodies with contemporary hip-hop beats. With this season being produced by Mirchi, the immersive music festival showcased its upcoming lineup at an exclusive media preview in Mumbai on January 14th, 2025. This unique cultural fusion continues to redefine the intersection of traditional and modern Indian music, embodying the brand's 'Living it Large' philosophy.

      Music has been a key consumer engagement pillar for the brand. Royal Stag BoomBox audaciously brings together Bollywood's timeless melodies with hip-hop's raw energy, creating the original sound of today’s generation, Generation Large. The festival’s unique format creates a distinct sound that resonates with today’s youth – a tribe that makes rather than follows trends.

      The festival will tour across four major youth centers – Hyderabad, Mumbai, Gurugram and Guwahati – featuring headline musical acts alongside cutting-edge interactive experiences. The previous 2 editions drew close to 1 Lac attendees across cities and generated 200 Mn+ views across digital platforms. Attendees can engage with art installations, AR/VR technology as well as AI-powered personalization. In addition to this, there will be performances by celebrated local artists.

      This year, the platform has also tied up with Ampverse DMI Pulse, the cutting-edge marketing agency who will bring in the gaming experience for the 1st time to Seagram’s Royal Stag BoomBox. Leveraging their expertise in identifying youth trends and the intersection of gaming and entertainment, a lineup of top gaming influencers has been curated, who resonate with audiences in each city. These Influencers will take part in an exhilarating EAFC 24 gaming showdown, bringing high-energy face-offs to Hyderabad, Mumbai and Gurugram. The event will feature showdowns, intense gameplay, lively banter, and real-time crowd interactions, creating an immersive experience that seamlessly blends gaming, music, and live entertainment.

      Complementing the live events, the property will also produce a series of in-studio collaborations, creating original tracks that blend melodic and hip-hop elements, to be released as singles with accompanying videos across digital platforms.

      Kartik Mohindra, Chief Marketing Officer and Head of Global Business Development at Pernod Ricard India said, “The universal language of music, especially in live experiences, has this remarkable power to unite people and create moments of pure magic. Royal Stag continues to celebrate music as its key youth passion pillar. Now, as we unveil the third edition of Royal Stag BoomBox, the platform is set to elevate the experience with an exciting new soundscape, blending the melodies of Bollywood with the pulsating beats of Hip-Hop, along with art and cultural experiences, truly exemplifying the brand philosophy of Living It Large." Speaking about the third edition of Royal Stag BoomBox, Ajay Gupte, CEO-South Asia, Wavemaker said, “Royal Stag has always championed music as a core passion point for today's youth. In this 3rd edition of Royal Stag Boombox, we are amplifying our 'Live It Large' philosophy. The overwhelming success of previous iterations proved we are tapping into something truly special. Expect an even more dynamic experience, a truly electrifying fusion of Bollywood's emotive melodies and the raw energy of hip-hop. Get ready for a power-packed lineup that will redefine music festivals." Yatish Mehrishi, CEO of ENIL said “Royal Stag BoomBox is all about bringing people together through the magic of music—it’s where innovation meets culture, and tradition blends seamlessly with modern vibes. At ENIL, we’re excited to collaborate on something so special that celebrates diversity and creates unforgettable moments. This edition is a step forward in raising the bar, delivering energy, joy, and memories that music lovers across the country will treasure for a lifetime.” Charlie Baillie, CEO and Co-Founder, Ampverse Group said, “We’re excited to partner with Seagram’s Royal Stag BoomBox for its third edition, bringing gaming into the heart of this amazing cultural celebration. Gaming is such a big part of how today’s youth connect and express themselves, and with insights from PULSE, we’ve seen just how much gaming, music, and entertainment overlap in shaping youth culture. This collaboration lets us create something truly special, a gaming showdown that combines intense gameplay, fun banter, and real crowd energy. At Ampverse DMI Pulse, we’re proud to help reimagine live events and be part of a platform that speaks directly to Generation Large.” Music director and singer Amit Trivedi shared, “Royal Stag BoomBox is a beautiful celebration of music – raw, authentic, and straight from the heart. For me, it’s about sharing stories through melodies and connecting with people on a deeper level. I feel truly grateful to be a part of this platform and can’t wait to create some memorable moments together with the audience." Singer-songwriter Armaan Malik said, "Music has always been my way of connecting with people, no matter where they’re from and what language they speak. Performing for Royal Stag BoomBox across the country last year was an unforgettable experience - the energy from the crowds in every city was truly electric. I got to meet amazing people, experience different cultures, and see firsthand how music brings everyone together. I can’t wait to create even more magical moments with audiences this time around as I perform in multiple cities across India." Singer Neeti Mohan shared, “Music has always been a universal language that connects people together. This platform is a fantastic space for artists to not just perform but also connect deeply with fans. I’m looking forward to creating an evening full of soulful melodies, dance-worthy beats, and unforgettable memories!” Singer Nikhita Gandhi added, “Personally for me, Royal Stag BoomBox has always been about experimenting and breaking boundaries through music. Whether it’s fusing genres or delivering an electrifying live performance, this platform allows us to push creative limits. I’m thrilled to be part of this year’s lineup and share my journey through music with such an incredible audience.” Eminent Hip-Hop artist Raftaar shared, “Royal Stag BoomBox is where the beats hit hard, and the vibes are always on point. For me, it’s about more than just rapping – it’s about taking the crowd on an energetic and emotional ride. I’m bringing my A-game this year and can’t wait to set the stage ablaze with high-octane music and raw energy!” Artist Ikka expressed, "What makes Royal Stag Boom Box special is how it lets every artist showcase their unique sound and vibe. I’m excited to bring my signature desi hip-hop style to the stage and create a musical experience that resonates with the crowd. It’s going to be all about real stories, killer beats, and unforgettable moments!” DJ Yogii said, "Royal Stag Boom Box is all about making the crowd move and feel alive through music. As a DJ, my goal is to blend beats and genres to create an electrifying atmosphere. I’m stoked to bring my high-energy set this year and turn the event into one big, unforgettable party!” Gaming YouTuber ShreeMan LegenD expressed, “As a gamer and creator, I am very excited to collaborate with Ampverse DMI Pulse for this incredible opportunity and be a part of Royal Stag BoomBox. The live gaming face-offs at Royal Stag BoomBox add a thrilling dimension to the experience, and I can't wait to bring the gaming community's energy to the stage. It's initiatives like these that showcase the future of youth-focused entertainment." ​About Royal Stag Boombox For many years, music has been a key consumer engagement pillar for the brand. Today, the youth tilts towards exploring exciting new forms of music. Contemporary genres such as hip-hop are becoming increasingly popular among the youth of the country, while Bollywood melodies remain integral to their cultural milieu. Royal Stag BoomBox intends to stir the imagination of this generation, blending music they have inherited, Bollywood scores, with the genre that speaks to them, Hip Hop. This mix will have the swag and emotional heft of Hindi cinema’s best compositions and the throbbing vibe and vigor of hip-hop.

      Link: www.royalstagfan.com About Royal Stag Seagram’s Royal Stag is the flagship brand of Pernod Ricard India. Royal Stag has been a consistent star since launch, and a brand quite often credited to have changed the rules of the game. It is for the young, daring, confident, progressive, and inspiring individuals who embody self-belief. The brand has been inspiring the youth of India through its communication around the philosophy of “It’s Our Life. We Live It Large.” To View the Image, Click on the Link Below: Royal Stag BoomBox S3 Press Conference (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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