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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
    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
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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
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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.
    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
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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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      Vision 2030: Mumbai as Culinary Capital of India launched by AHAR

      January 21, 2025

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      New Delhi [India], January 21: Sukesh Shetty, President AHAR said, AHAR (Association of Hotels and Restaurants) was established in 1979 and comprises 66 associations with over 8,000 members in Mumbai alone. In 2029, AHAR will celebrate its 50th Anniversary. AHAR was established by hotel owners, with a primary focus on solving industry problems and empowering its members. AHAR ensures that its operations are controlled exclusively by its members. Globally, certain cities are renowned for their iconic products. For example, Italy is famous for pizza. Mumbai has achieved fifth place on the global list for its iconic product, Vada Pav. Following Mumbai, Amritsar is celebrated for its Chana Masala. Additionally, India takes pride in the invention of Dal Khichadi, a value-for- money dish that reflects the essence of Indian cuisine.

      AHAR presented 50 Milestones which work has started to enable the Vision 2030 to become a reality . This was presented at the AHAR AGM held at Hotel Grand Hyatt in Mumbai. This was televised on Times Now, a leading English News Channel. These Milestones were taken up with different office bearers of AHAR and we felicitated them for their efforts as AHAR Super Heroes.

      Under the "Mitra Concept," AHAR aims to position Mumbai as the Culinary Capital Of India by 2030. This ambitious vision aligns with the growing global recognition of India’s culinary excellence and the hotel industry’s potential to lead the charge. Mumbai is the financial capital of India and home to a diverse population with migrants from across the country. This diversity has given Mumbai a rich culinary landscape, offering cuisines from all corners of India. To promote tourism, we need to enhance this culinary heritage and develop it into a strong, recognizable brand. There are various types of tourism, and food tourism is one of the most impactful ways to attract visitors. AHAR is a well-structured and highly communicative organization, which enables it to play a significant role in this transformation. We are committed to staying updated and adapting to the needs of the industry to help Mumbai evolve into a premier tourist destination.

      AHAR has initiated a new program in collaboration with RPH College, a catering college. As part of this program, our staff and hotel teams visit the college to train students in basic preparation techniques and the importance of preserving traditional food. Additionally, we are conducting training sessions for our staff, restaurant owners, and managers to develop creative approaches to presenting and promoting traditional Indian cuisine. This initiative aims to not only preserve India’s culinary heritage but also elevate its status on the global stage.

      At the AGM, Senior hoteliers , Ex-office Bearer, President awards nominees felicitated on stage with live audience of thousand plus hotel owner. Senior advisors of AHAR spoke about past, present C future trends in the hotel industry.

      AHAR Hospitality Summit had notable speaker Bhushan Gagrani – Municipal Commissioner of BMC, Ulhas Ingawale – Joint Commissioner, State Food Safety Commission, Sudhakar Shetty Secretary of AHAR, moderated by Santosh Shetty Senior Advisor.

      Bhushan Gagrani's said, "Mumbai is rapidly progressing, and I assure you that within the next 3 to 4 years, all major infrastructure projects will be completed. Projects such as the Coastal Road, metro lines, and the new airport will transform Mumbai into a modern, new age city.

      In technical terms, the government is providing the hardware- the necessary infrastructure. However, to run the program smoothly and make it impactful, we also need powerful software. This software comprises Mumbai’s rich heritage, diverse culture, and exceptional food scene.

      Over the years, significant changes have been made in the food industry, including reforms in licensing and the creation of various forums. Organizations like AHAR are actively supporting the government in these initiatives to streamline and enhance the industry.

      The new generation, often referred to as Gen Z, views dining out as more than just satisfying hunger—it’s about the experience. The food industry, currently valued at $70 billion, has immense potential to contribute to India's GDP. In alignment with Prime Minister Narendra Modi’s vision of achieving a $5 trillion economy, the food industry must play a larger role. This journey of growth and transformation will begin in Mumbai, setting an example for the rest of the country.

      To promote domestic tourism C increased hospitality sector the key is maintaining continuous dialogue with stakeholders to understand how we can facilitate growth and make life more comfortable for businesses and tourists alike. Often, government rules, such as those related to licensing, undergo changes, and these processes can be slow. To address this, consistent communication with stakeholders is essential. In the food industry, for instance, we need ongoing discussions with organizations like the BMC, FDA, and police. Directly engaging with every individual is not always feasible, which is why organizations like AHAR, which understand the industry's challenges, play a crucial role. These dialogues help us identify the actual issues, whether we are over-regulating or facilitating the industry appropriately. Recent improvements, such as the availability of online permissions, more user-friendly compliance processes, and the removal of certain outdated requirements (e.g., permits for permit rooms), have all been possible due to continuous engagement with organizations like AHAR.

      India must take pride in its own food heritage. We should not hesitate to promote the nutritional value and traditional significance of our cuisine. This kind of promotion will help us showcase the true essence of Indian food.

      Additionally, I believe AHAR can play a crucial role in promoting healthy eating among the new generation. With 40% of people being overweight, it’s essential to promote a balanced diet alongside the growth of the food industry. We need to ensure that while we promote the richness of our culinary culture, we also encourage healthy eating habits.

      I am open to dialogue with AHAR on how we can collaborate to promote both the traditional value of food and healthier eating choices.

      Regarding the Lok Sabha elections, our city had a low voter turnout. We were asked to increase voter participation in the assembly elections, and we sought help from AHAR. The AHAR team responded immediately, and as a result, voter turnout increased by 6 to 7%".

      Mr. Ulhas Ingawale Joint Commissioner, State Food Safety Commission said, " There have been significant changes in hygiene practices within the hotel industry, driven by evolving customer expectations. Post-COVID, cleanliness and hygiene have become top priorities. Enhanced cleaning protocols have been implemented across establishments to ensure the highest standards of safety and sanitation. Many restaurants have partnered with global health organizations to participate in certification programs, further emphasizing their commitment to hygiene. Additionally, staff training and dedicated hygiene programs have been introduced to maintain consistent cleanliness and meet customer expectations.

      AHAR plays a significant role in the hotel industry by facilitating FOSTAC training. This training helps restaurant owners understand food safety and compliance requirements. To further enhance this initiative, AHAR could provide online training and resources, particularly for small restaurant owners. Regular refresher workshops and training programs focused on food safety would also be beneficial for small establishments.

      So far, AHAR has conducted 100 FOSTAC training sessions, benefiting 4000 restaurants. All expenses for these sessions have been borne by AHAR members.

      FOSTAC, or Food Safety Training and Certification, is a government initiative aimed at improving food safety. The government has allocated a grant of ₹2 crore to the FDA for training 30,000 food handlers under a 100-day program. AHAR is expected to play an important role in achieving this target and supporting the industry’s growth.

      Currently, the FOSTAC certificate is valid for 2 years. This is due to the constant changes in technology and global food safety trends. To ensure food handlers remain updated with these changes, it’s important for staff to continue their education and stay informed. A certificate validity of 2 years ensures that the person is actively involved in food handling and that they stay current with the latest standards.

      According to global standards, most certifications and licenses are valid for 2 to 3 years. A 5-year validity could create a significant gap, potentially leaving individuals unaware of critical updates. The government is also taking steps to ensure that people are continuously trained and informed.

      FSSAI licenses require on site inspection and documentation, including building layouts and disposal systems, to ensure public health safety. However, we are working on introducing a Tatkal license process for restaurants. This would involve a one-time verification, and once compliance is met, the license will be issued. We are also working to reduce the current 60-day processing period".

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

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