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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’
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    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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    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
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    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
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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".
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    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
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    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.
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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
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    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
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    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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      Indian Dance Group V Unbeatables to Perform at Lunar New Year Night Parade in Hong Kong

      January 21, 2025

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      Cathay International Chinese New Year Parade will Feature Diverse International Performances and Hong Kong Charm with Stunning Floats Hong Kong (NewsVoir) Indian dance group and the winner of 2020 America's Got Talent: The Champions V.UNBEATABLE are all set to perform at the upcoming Cathay International Chinese New Year Night Parade alongside 15 other performing groups from the Mainland and overseas. The most spectacular Lunar New Year celebration in town – the Cathay International Chinese New Year Night Parade – is ready to roar back in exuberant style in Tsim Sha Tsui to welcome the first day of the Year of the Snake (29 January), kicking off a host of seasonal events across Hong Kong. The annual event is organised by the Hong Kong Tourism Board (HKTB) with Cathay as the title sponsor for the 23rd year. With the theme Unfold a Year of Good Fortune, the parade combines performers from around the world with distinctive Hong Kong flavours presented by the floats to reflect the city’s status as an events capital for festivities with a unique glamour.

      Hong Kong, a visa-free destination for Indian travellers, offers a vibrant calendar of year-round events, allowing visitors to immerse themselves in the city's rich culture and dynamic experiences.

      The floats and local, global, and pre-parade performances in this year’s parade will total 55 – more than last year – bringing a bigger and more spectacular Lunar New Year experience to excited crowds of spectators.

      A total of 14 countries and regions will be represented, including Hong Kong, with France, Argentina, Austria, India, Indonesia, and Thailand as the newcomers. The other performing groups from Mainland and overseas, include Austrian acrobatic show group and the runner-up of 2018 America's Got Talent Zurcaroh, and the dance crew, the first Golden Buzzer winner of the 2023 Indonesia’s Got Talent contest BRAVERY DANCERS. Groups from the Mainland are also ready to impress, including the Shaanxi Performing Arts Troupe, who featured in the opening and closing ceremonies of the 14th National Games of China. Spectators can also enjoy the festive fan with Thai boyband LYKN and K-pop girl group Kep1er.

      Dr Pang Yiu-kai, HKTB Chairman, said, “Hong Kong is one of the most popular destinations in the world for Lunar New Year celebrations, and the Cathay International Chinese New Year Night Parade is definitely a highlight of the festivities. The parade will be broadcast live by satellite and webcast around the world and will be a global attraction to remember. This year’s event trumps last year’s as HKTB hopes to kick off the Year of the Snake by showcasing an international carnival featuring performances from all over the world.” Dr Pang continued, “HKTB will also provide visitors with a handy New Year travel guide by launching a one-stop Chinese New Year celebration webpage. The page brings together details about celebrations across the city in addition to the Cathay International Chinese New Year Night Parade, including the fabulous fireworks display, the Chinese New Year Raceday, and the Chinese New Year Cup on the second, third, and fourth days of Lunar New Year respectively, as well as Lunar New Year fairs. Complemented by other festive activities and popular attractions, Hong Kong offers a feast of seasonal entertainment to entice visitors to stay for a few more days and return home filled with joy.” Mr Ronald Lam, Cathay Group Chief Executive Officer, said, “As Hong Kong's home carrier with deep roots in the city for nearly 80 years, Cathay is firmly committed to developing Hong Kong as an international aviation hub. We have been adding more flights and expanding our network to connect our customers with their friends and families from around the world. At the same time, we also play a part in Hong Kong's development into an East-meets-West centre for international cultural exchange. We support various international mega-events held in the city to promote the local economy. Meanwhile, we are delighted to be the title sponsor of the Cathay International Chinese New Year Night Parade for the 23rd consecutive year. We hope this world-renowned Chinese New Year spectacle will give everyone a warm start to the Year of the Snake, surrounded by loved ones and filled with the joy, happiness and blessings brought by Cathay!” Presenting Local Performers of an International Standard for a Magnificent Festive Extravaganza Representing the talents of Hong Kong are 12 performing groups with skills ranging from dancing, cheerleading, and gymnastics to rope skipping – many of them champions in international competitions. Marvel at the moves of Chestroll Dance Crew, winner of the 2019 and 2023 World of Dance Hong Kong competition, and the SDM Jazz & Ballet Academie and Hong Kong Rope Skipping.

      Association, China, both winners of numerous international accolades. The show by the Hong Kong Rope Skipping Association China, which has participated in the parade for many years, will include top performers from the United States, France, Australia, and Japan, exchanging skills and adding a touch of international flair and vitality to the traditional festivities.

      The parade will begin at the Hong Kong Cultural Centre Piazza and will work its way through Canton Road, Haiphong Road, and Nathan Road before arriving at Sheraton Hong Kong Hotel & Towers. The parade will officially begin at 8:00pm, and at 6:00pm before the parade starts, a total of 18 local performing groups will ring in the festivities with juggling, magic shows, dance and music to get you into the carnival mood.

      Floats Transform into Hong Kong Tourism Ambassadors to Showcase City’s Charm The parade this year will feature nine floats, many of which assume roles as Hong Kong Tourism Ambassadors by showcasing the city’s splendour and charm. These floats will feature famous Hong Kong icons, including the city’s popular giant pandas who will appear on a float with Hong Kong-style milk tea. Don’t miss out on floats based on the city’s stunning skyline that take inspiration from the snake motif. Also not to be missed are floats with elements of Hong Kong festivities to promote the city’s distinctive Lunar New Year culture, as well as ones carrying joyful Lunar New Year messages and greetings including windmills, lyrical couplets, blooming flowers, and much more. Tickets on Sale from 11 January 2025.

      Seats for the Cathay International Chinese New Year Night Parade will be available at the Hong Kong Cultural Centre and on Canton Road and Nathan Road. Tickets cost HK$480, $450, and $300 will go on sale from 8:00 am on 11 January (Saturday) at the HKTB’s Kowloon Visitor Centre in Tsim Sha Tsui (Star Ferry Pier, Tsim Sha Tsui). All tickets are available on a first-come, first-served basis.

      Creating Synergy with the Hong Kong Well-wishing Festival to Extend the Excitement of the Night Parade HKTB is teaming up with the Hong Kong Well-wishing Festival this year to extend the excitement of the night parade. The dazzling floats and performance stage will be relocated to Lam Tsuen in Tai Po where, from 30 January to 13 February, locals and visitors can see multiple floats at the Lam Tsuen Wishing Square.

      On the second and third days of the Lunar New Year, locals and visitors can enjoy selected performances presented by Mainland and international performing groups who took part in the Cathay International Chinese New Year Night Parade. Some groups will also perform at different locations around the city on these two days, making it an event not to be missed.

      Launch of New Year Travel Guide to Attract Visitors to Celebrate Lunar New Year in Hong Kong The HKTB is providing a handy New Year travel guide for locals and visitors by launching a one-stop Chinese New Year celebration webpage.

      The page brings together details about celebrations across the city, including the Cathay International Chinese New Year Night Parade, the fabulous fireworks display, the Chinese New Year Raceday, and the Chinese New Year Cup on the first, second, third, and fourth days of Lunar New Year respectively, as well as Lunar New Year fairs. Together with temple visits for blessings and other festive activities at popular attractions, the guide will give visitors spending the Lunar New Year in Hong Kong the opportunity to fully immerse themselves in the city’s festive culture.

      HKTB Chinese New Year celebration webpage: www.discoverhongkong.com/eng/what-s-new/events Schedule of Celebratory Events Related to the Cathay International Chinese New Year Night Parade* The Cathay International Chinese New Year Night Parade kicks off on 29 January, the first day of the Lunar New Year, with pre-parade performances beginning at 6:00 pm and the main parade running from 8:00 pm to 9:45 pm. The parade route starts at the Hong Kong Cultural Centre Piazza in Tsim Sha Tsui and proceeds along Canton Road, Haiphong Road, and Nathan Road, before concluding at the Sheraton Hong Kong Hotel & Towers. The festivities continue on 30 and 31 January, with Mainland and International performing groups showcasing their talents at various locations including Lam Tsuen Wishing Square in Tai Po, Citigate Outlets, Kai Tin Shopping Centre, and Temple Mall on January 30, followed by performances at PopCorn, Maritime Square, and The Wai on January 31. Additionally, float displays will be exhibited at Lam Tsuen Wishing Square in Tai Po from January 30 to February 13, spanning from the second day of the Lunar New Year until the day after the Lantern Festival.

      *The performances and float display details will be announced later on the HKTB website.

      The "Cathay International Chinese New Year Night Parade" will be live-streamed on the Discover Hong Kong YouTube channel on January 29, 2025, from 20:00 to 21:45 Hong Kong Time (GMT 12:00 to 13:45). Join us for this vibrant celebration of the Lunar New Year! About Hong Kong Tourism Board (HKTB) The Hong Kong Tourism Board (HKTB) is a government-subvented body tasked to market and promote Hong Kong as a travel destination worldwide and enhance visitors' experience once they arrive. These include making recommendations to the Government and other relevant bodies on the range and quality of visitor facilities.

      The HKTB’s missions are to maximise the social and economic contribution made by tourism to the community of Hong Kong and to consolidate Hong Kong’s position as a unique, world-class, and most desired destination.

      (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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