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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
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    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
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    August 8, 2026
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    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
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    August 8, 2026
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
    August 8, 2026
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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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.
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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.
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    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.

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      Ahvaan: A Call to Action – National Conference on Aftercare Services

      January 30, 2025

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      Mumbai, Maharashtra, India (NewsVoir) “Ahvaan: A Call to Action: National Conference on Aftercare Services” was a groundbreaking event aimed at uniting a diverse group of stakeholders involved in the aftercare ecosystem. Hosted by Catalysts for Social Action (CSA), in partnership with A Future for Every Child (AFEC) and UNICEF, the conference gathered government agencies, NGOs, skill development institutions, and corporate partners for a collaborative exchange of knowledge and ideas. The national conference was attended by over 130 stakeholders including 6 government representatives and participants from 13 states to have a meaningful discussion on the state of Aftercare in India.

      Aftercare services play a vital role in supporting young people who age out of institutional care at 18 (called ‘care leavers’), offering resources like higher education, vocational training, mentorship, psychosocial support, housing, and life skills training. However, it is estimated that two-thirds of care leavers are unaware of these services, and only a small fraction access comprehensive aftercare programs. Without such support, they face risks including poverty, unemployment, and homelessness.

      This conference marks the first time that four key NGOs—CSA, AFEC, Udayan Care, and Sevalaya—have come together under a shared theory of change to address the aftercare gap. CSA’s Aftercare Program with over 2500 Care Leavers is one of the largest in the country and is running in five states and 60+ districts. Through years of implementation on the ground the program has incorporated learnings on how to make it effective in terms of measurable outcomes. It also leverages technology, HR processes and partnerships to make the program scalable.

      Vipul Jain, Co-founder of CSA, stated, “We have been working on our Aftercare Program for the last five years and believe it is the largest program in the country with an annual enrolment of 600+. It is also cost efficient, effective and scalable. We are co-hosting this conference to share our program design, implementation methodology, and learnings with all stakeholders. We hope that this will spark more conversations about the cause of Aftercare Services and kickstart collective and collaborative action.” By fostering knowledge exchange and partnerships between government bodies, NGOs, skill development institutions, and corporate partners, the conference was an attempt to create a unified approach to aftercare. It is only through such collaborations that scalable solutions can be developed to ensure every care leaver receives the support they deserve.

      Key highlights of the event included a UNICEF representative discussing policy frameworks and challenges in aftercare services. Sanjay Singh, Chief of Field Office, UNICEF Maharashtra, said, “UNICEF India’s commitment to its #3Cs4EveryChild approach - Convene, Converge and Catalyse, particularly in aftercare, is focused on empowering care leavers as they transition into adulthood. Through Convening, UNICEF India brings together diverse stakeholders—governments, NGOs, youth networks, and the private sector—to create a supportive ecosystem for care leavers. Converging efforts across sectors, aligns key actors to ensure coordinated action on critical issues like education, skill development, and mental health for these vulnerable youth. By catalysing policy dialogue and directly engaging care leavers, UNICEF sparks awareness and drives collective action to support their transition, ensuring they are equipped with the opportunities and resources to thrive independently.” The conference also featured three panel discussions: Voice of Care Leavers, focusing on the challenges faced by care leavers and the need for improved awareness and access to aftercare services; Convergence and Partnerships – Building an Effective Aftercare Ecosystem, exploring how collaboration among stakeholders can create a robust support system; Experiences and Perspectives of Government Functionaries from Karnataka, Chhattisgarh, Odisha, Madhya Pradesh and Maharashtra was a key panel to learn from; and Mission 2030 – Scaling Aftercare Services to Reach All Care Leavers, addressing the scaling of aftercare services nationwide to all care leavers. Additionally, two key papers were released: Effective, Scalable Aftercare Models by Gita Gopal, Co-Founder of AFEC, and From Strategy to Implementation by CSA, providing critical insights into the Aftercare Program that CSA has been implementing.

      Gita Gopal, Co-founder of AFEC, shared, “We are at a pivotal moment where collaborative efforts can create a lasting impact on the lives of care leavers. Through collective action, we can build an effective, sustainable and scalable aftercare system that ensures no young adult is left behind.” About Catalysts for Social Action Catalysts for Social Action (CSA) is an Indian NGO that works towards addressing the unique needs of children in the Juvenile Justice system. Positioned at various stages in the continuum of care—whether it is family-based alternative care, institutional care, or Aftercare—CSA is committed to ensuring that every child or young adult has the opportunity to find a loving family or get family-like care. The organisation envisions a future where every vulnerable child can develop into a confident individual, lead a fulfilling life and be a contributing member of society.

      CSA has been working for over 20+ years, and is active in 5 states - Maharashtra, Orissa, Madhya Pradesh, Karnataka and Goa. It supports 110 Child Care Institutions to create better outcomes in terms of health, nutrition, education and life skills for over 5000 children living in these homes. CSA’s Aftercare Program is probably the largest in the country with over 2500+ Care Leavers. CSA also does research, training, advisory and policy implementation in all aspects of the Child Protection space.

      About A Future for Every Child A Future for Every Child (AFEC) is a US-based non-profit founded in 2019 by adoptive parents Gita and Madan Gopal. With a mission to support the journey of orphaned and vulnerable youth to adulthood, AFEC has been unwavering in its focus on assisting care leavers—youth aging out of institutional care—to transition successfully to independence.

      Since its inception, AFEC has emerged as a thought leader, defining an effective and scalable aftercare program for care leavers and pioneering comprehensive data collection to drive continuous program improvement. Collaborating with trusted partners to implement the program across India, AFEC has supported approximately 1,500 care leavers over the past five years.

      Guided by the vision of empowering every care leaver to build a brighter future, AFEC remains committed to expanding its reach and impact in the years to come.

      (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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