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    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
    DRI intensifies vigil along India's North-Eastern Frontier
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    August 8, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Customs & Trade

      Trump says he plans to reach out to North Korea's Kim Jong Un

      January 24, 2025

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      Washington, Jan 24 (AP) President Donald Trump said in an interview that he will reach out to North Korean leader Kim Jong Un, who he described as a “smart guy.” Trump was being interviewed on Fox News by Sean Hannity, who asked the president if he planned to talk to his North Korean counterpart. Trump said he would.

      “I got along with him,” Trump said of Kim. “He's not a religious zealot.” New statement from Hegseth's ex-wife continues to raise questions about his alcohol use A new statement by Pete Hegseth's ex-wife to the FBI continues to raise questions about the alcohol use of Trump's nominee for defence secretary.

      That statement by Samantha Hegseth, the nominee's second wife, is part of an FBI background investigation that was read to Senate Armed Services Committee leadership Mississippi Republican Roger Wicker and Rhode Island Democrat Jack Reed Jan. 16. It said Pete Hegseth had and continues to have a problem with alcohol abuse, a person familiar with the FBI briefing and its findings told The Associated Press.

      Reed has called Hegseth's FBI background check substandard. He said in a statement Thursday that he and Wicker received multiple FBI briefings about the defense secretary nominee, something he had not seen in more than 25 years on the Armed Services Committee, and that “the recent reports about the contents of the background briefings on Mr. Hegseth are true and accurate.” Timothy Parlatore, Hegseth's attorney, said Thursday that “Reed is knowingly lying” because what Samantha Hegseth actually told the FBI is that Pete Hegseth drinks more often than not, but she also acknowledged that she had not spent time with him for about seven years.

      White House asks California congressional members to hold roundtable during Trump visit The White House has asked California congressional members, including Democrats, to hold a roundtable at an airplane hangar in Santa Monica during Trump's visit to the fire-ravaged region of California on Friday afternoon.

      That's according to a person briefed on the plans who spoke on condition of anonymity because they were not authorized to discuss them.

      Congressional Democrats have sharply criticized the new president's threats to withhold federal disaster aid unless California's leaders change the state's approach on its management of water.

      There are currently no plans to visit sites of fire destruction in Altadena, a working class area heavily impacted by the Eaton fire, according to the source familiar, though it was unclear if the president would be visiting other sites.

      Trump reiterates support for full federal recognition for the Lumbee Tribe of North Carolina Trump signed a memo Thursday directing his administration to help advance full federal recognition for the Lumbee Tribe of North Carolina, a distinction that would unlock access to federal funds.

      Congress acknowledged the tribe in 1956 but stopped short of giving the now 55,000-member tribe federal recognition, which has been granted to 574 other Native American tribes in the U.S. Along with federal funds, the designation comes with access to resources like health care through the Indian Health Service. It also creates a pathway for a tribe to secure a land base.

      Trump's memo directs the Department of the Interior, within 90 days, to provide a plan on how to get the Lumbee Tribe federal recognition “through legislation or other available mechanisms.” Treasury Department deploys extraordinary measures' to avoid breaching debt ceiling The Treasury Department says it has deployed “extraordinary measures” to stop the US from breaching the debt ceiling.

      Acting Secretary David Lebryk wrote to congressional leaders on Thursday to inform them about the new measures. He says the Treasury Department stopped paying into the G Fund, a retirement fund for government workers.

      Once the extraordinary measures run out, the government risks defaulting on its debt unless lawmakers and the president agree to lift the limit on the U.S. government's ability to borrow.

      First batch of new forces being deployed to El Paso and San Diego to secure southern borde Active duty military troops will begin arriving in El Paso, Texas, and San Diego on Thursday evening, in what defense officials said is the first batch of the new forces being deployed to secure the southern border.

      The Pentagon announced on Wednesday that about 1,500 troops were being sent to the border this week, as the department scrambles to put in motion President Donald Trump's executive order demanding an immediate crackdown on immigration.

      U.S. officials, who spoke on condition of anonymity to provide details on troop movements, said they expect additional troops to be ordered to deploy in the next few days as defense and homeland security leaders iron out requests for more support.

      The officials said it's not yet clear how many more service members would get tapped in the near future, but they would include active duty, National Guard and Reserves, and come from land, air and sea forces. Other defense and military officials this week estimated that the additional number deployed could be in the thousands.

      Trump's demand for lower interest rates isn't that simple Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep.

      Economic growth is solid, driven by healthy consumer spending. Budget deficits are huge and could get even larger.

      And if Trump follows through on his promises to impose widespread tariffs on imports and deport millions of immigrants, economists expect inflation could worsen, making it less likely the Federal Reserve will cut its key interest rate much this year.

      What to know about Trump's executive order regarding transgender people An executive order that Trump signed on his first day back in office offers a new federal government definition of the sexes that could have a major impact on transgender people.

      The order calls for the federal government to define sex as only male or female and for that to be reflected on official documents such as passports and policies such as federal prison assignments. As for federal spending, it's not clear what his vow to end broader gender classifications will mean on the ground.

      Trump says he is not bothered by Musk's criticism of the Stargate projec Trump said he is unbothered by the fact that Elon Musk has been critical of the Stargate artificial intelligence infrastructure project he announced this week, telling reporters that Musk is critical because one of the people involved in the deal is “one of the people he happens to hate.” Trump brushed aside the clash that's been unfurling online between two of his tech business allies, Musk and OpenAI CEO Sam Altman. Musk has questioned the value of the AI investment, of which OpenAI is a partner.

      “People in the deal are very, very smart people. But, Elon, one of the people he happens to hate. But I have certain hatreds of people, too,” Trump said. The president did not elaborate.

      Trump pardons anti-abortion activists who blockaded clinic entrances Trump announced Thursday he would pardon anti-abortion activists convicted of blockading abortion clinic entrances.

      Trump called it “a great honor to sign this.” “They should not have been prosecuted,” he said as he signed pardons for “peaceful pro-life protesters.” Among the people pardoned were those involved in the October 2020 invasion and blockade of a Washington clinic.

      In the first week of Trump's presidency, anti-abortion advocates have ramped up calls for Trump to pardon protesters charged with violating the Freedom of Access to Clinic Entrances Act, which is designed to protect abortion clinics from obstruction and threats. The 1994 law was passed during a time where clinic protests and blockades were on the rise, as well as violence against abortion providers, such as the murder of Dr. David Gunn in 1993.

      Trump says no date set yet for new tariffs on China Trump said he hasn't set a date on imposing new tariffs on China, but he's reiterating that he wants a 10% tax on Chinese imports in retaliation for it making the chemicals used in fentanyl.

      Trump told reporters in the Oval Office Thursday that he still plans to tariff Canada and Mexico at 25% rates starting as soon as Feb. 1. He said he was comfortable charging higher tariffs on those countries because he had already placed higher tariffs on China during his first term.

      Trump says he expects Fed to listen to him on lowering rates Trump says he expects a chain reaction in which lower oil prices will lead to lower interest rates across the U.S. economy, but he also plans to bring up the issue with Federal Reserve Chair Jerome Powell.

      Trump told reporters in the Oval Office that “when the energy (prices) comes down” it would also knock down overall inflation and “automatically bring the interest rates down.” Asked if he expects the Fed to listen to him on rates, Trump said: “Yeah.” Trump says he will talk to Powell about lowering rates “at the right time.” The Fed controls short-term rates that influence inflation and the supply of money in the economy.

      Trump has talked to lawmakers about reshaping FEMA Trump is preparing to reshape the Federal Emergency Management Agency, which has been on the frontlines of responding to recent wildfires in California and last year's hurricane in North Carolina.

      He spoke at length about the issue with congressional Republican leaders on Tuesday, discussing whether the agency should continue providing assistance to states in the same way, according to a person familiar with the conversation who spoke on condition of anonymity to discuss it.

      Conservatives have previously suggested reducing the amount that states are reimbursed for preventing and responding to disasters like floods, tornadoes, hurricanes and more.

      ?Read more about Trump's plans for FEMA The Department of Justice will vigorously defend' Trump's executive order redefining birthright citizenship In a statement after the federal judge's ruling Thursday that temporarily blocked the order, the department said the executive order “correctly interprets the 14th Amendment of the U.S. Constitution.” “We look forward to presenting a full merits argument to the Court and to the American people, who are desperate to see our Nation's laws enforced,” the department said.

      US District Judge John Coughenour in Seattle called the executive order “blatantly unconstitutional” during the first hearing Thursday in a multi-state effort challenging the order.

      Trump says he's open to meeting people charged or convicted for the Jan 6 Capitol attack President Donald Trump says he's open to meeting with the roughly 1,500 people charged or convicted for their roles in the Jan. 6, 2021 Capitol attack whom he pardoned on Monday in his first hours in the White House.

      Trump said he didn't know if he would meet with those who faced criminal consequences for trying - violently in many cases - to prevent Congress from certifying his 2020 election defeat, but added, “I'd be open to it, certainly.” Trump expected to give prerecorded address to March for Life President Donald Trump is expected give a prerecorded video address to anti-abortion protesters Friday at the annual March for Life in Washington, D.C.

      The news come after Trump offered vague, contradictory answers to questions on abortion on the campaign trail and often attempted to distance himself from anti-abortion allies, despite boasting about nominating three Supreme Court justices who helped strike down a federal right to abortion.

      “This pro-life president has gone nowhere,” said Marjorie Dannenfelser, president of the national anti-abortion group SBA Pro-Life America, while announcing Trump's appearance during a Thursday press briefing.

      Abortion rights advocates pointed to his appearance at the event as evidence of what they've been saying all along -- that Trump cannot be trusted to stay out of abortion rights.

      “No matter what they said on the campaign trail to win an election, this shows their intentions to continue to attack abortion access,” said Ryan Stitzlein, vice president of political and government relations for the national abortion rights organization Reproductive Freedom for All. “This is just proving us right.” (AP) NSA NSA

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