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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
    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
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    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
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    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
    August 7, 2026
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    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
    August 7, 2026
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    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
    Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
    August 7, 2026
    Show AI Summary
    Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
    Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
    August 7, 2026
    Show AI Summary
    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
    Show AI Summary
    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
    August 7, 2026
    Show AI Summary
    Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
    BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
    August 6, 2026
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    Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
    Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
    August 6, 2026
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    Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
    An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
    August 6, 2026
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    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
    Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.

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      BMW Group India presents India Art Fair 2025

      February 7, 2025

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      • ‘The Future is Born of Art’ Commission winner artist-duo Non-Linear and Cursorama to create an immersive installation ‘Biolume’ responding to the theme of ‘Ecocentrism’.

      • BMW Art Talk – ‘From Introspection to Impact: Artists Shaping the World’ with Shirazeh Houshiary, Bharti Kher and Pushpamala N.

      (L-R) Artists Dennis Peters and Yash Chandak with Jaya Asokan, Fair Director at India Art Fair and Prof. Dr. Thomas Girst, Global Head, BMW Group Cultural Engagement Gurugram. BMW Group India is the presenting partner of the 16th edition of India Art Fair, which will take place from 6 – 9 February 2025 at the NSIC Exhibition Grounds in New Delhi. India Art Fair is the leading platform showcasing modern and contemporary art from India and South Asia and convenes audiences to explore a record 120 exhibitors, including 78 galleries, presented alongside major regional and international art institutions. The fair welcomes 26 new exhibitors, including seven new design studios. The expanded design section features eleven eminent design studios from India and beyond. For its biggest edition yet, India Art Fair continues in its mission to showcase the very best of South Asian art alongside major contemporary international artists and collectible design by pioneering studios, reinforcing its position as the leading site for discovery of art and culture in the region.

      Mr. Vikram Pawah, President and CEO, BMW Group India, said, "BMW Group India is a steadfast champion of the arts and cultural landscape across India. We take immense pride in our creative collaboration with the India Art Fair, as it continues to champion India's diverse and thriving contemporary arts landscape. Our shared vision for a future that is both creative and sustainable is perfectly encapsulated by the latest edition of 'The Future is Born of Art' Commission. This groundbreaking initiative explores how the harmonious integration of ecological and technological thinking can create a more sustainable, balanced, and regenerative world - all through the captivating lens of an artist's vision. We eagerly await the opportunity to welcome audiences from India and around the globe at the fair, where they will experience the transformative power of art and technology, united in the pursuit of a better tomorrow." ‘The Future is Born of Art’ Commission ‘The Future is Born of Art’ Commission, led by BMW India and India Art Fair is an annual commission designed to platform a promising young Indian artist on a global stage. Now in its fourth edition, the 2025 Commission invited emerging artists to propose an immersive installation centred around BMW iX1 LWB, MINI Countryman Electric and BMW Motorrad CE 02 and BMW Motorrad CE 04, reflecting on the theme of ‘Ecocentrism’. ‘Ecocentrism’ puts forward a worldview in which ecological and technological thinking coexist, imagining visions for a brighter, more sustainable future.

      As winners of the prestigious ‘Future is Born of Art’ Commission, led by BMW and India Art Fair, Non-Linear (Dennis Peter) and Cursorama (Yash Chandak) join the ranks of India’s most promising artistic voices. The annual commission challenges emerging artists to create large-scale installations that explore topical themes built on shared values of BMW and India Art Fair. Previous winners, Sashikanth Thavudoz (2024), Devika Sundar (2023) and Faiza Hasan (2022), have set the stage with visionary works exploring community, materiality and ecology.

      Non-Linear and Cursorama’s winning project, Biolume, is an ambitious 180-degree multimedia experience inspired by bioluminescent organisms. With interactive screens that respond to audience movements, the installation creates a feedback loop between human actions and their immersive environment. The space is filled with original sound, ranging from serene melodies to glitchy soundscapes.

      The installation has three dynamic scenes: The Surface: Hypnotic interplay of coastal waves and glowing organisms The Depths: Pulsating forms and evolving networks mimicking underwater life The Electric Abyss: A futuristic landscape merging organic and mechanical forms Biolume integrates generative design and biomimicry to place audiences inside an abstracted, glowing oceanic world. “Bioluminescence is nature’s sci-fi—a glowing, electric language that exists in harmony with its surroundings,” Peter explains. The project underscores the role of art as a tool for fostering ecological and social dialogue. “As artists, we see it as our responsibility to reflect on how technology and art can inspire change,” says the duo.

      BMW Art Talk On the theme of ‘From Introspection to Impact: Artists Shaping the World’ will be held on 7 February 2025 at the India Art Fair. This talk allows for a deeper introspection into the practices of artists by renowned artists Shirazeh Houshiary, Bharti Kher and Pushpamala N. with moderator Prof. Dr. Thomas Girst, Head of Cultural Engagement, BMW Group. In a polarised world, artists allow us to see beyond the surface level – to think more deeply and be challenged, and to create spaces for kinship and solidarity across borders and generations. In keeping track of how the world has evolved, artists punctuate these moments with their art and bridge cultural ecosystems which is the DNA of BMW’s role in art and culture.

      About BMW Group India Cultural Commitment The BMW Group has initiated and been engaged in hundreds of global cultural initiatives for over 50 years. From music to film, from architecture to design, contemporary art has played an essential role – via long-term institutional partnerships with major museums or partnering with the leading art fairs around the world, such as Art Basel and Frieze from Los Angeles, New York and Miami, to Seoul, Hong kong, Paris, and London.

      Since its inception, BMW India has participated in leading cultural engagements across the country. In 2007, two BMW Art Cars embellished by world-renowned artists Andy Warhol and Roy Lichtenstein were presented at the Jehangir Art Gallery in Mumbai. BMW Art Car by Andy Warhol, Jeff Koons, Sandro Chia and Cesar Manrique have been exclusively showcased at various editions of the India Art Fair.

      Since its inception in 2012, BMW has partnered with Kochi-Muziris Biennale, the contemporary art exhibition, which brings international artists to India and creates a global platform for Indian artists. In 2012-13, the innovative BMW Guggenheim Lab came to India. Based at Dr. Bhau Daji Lad Museum and conducted at six different venues in Mumbai, the lab organised six weeks of free programmes with diverse audiences and communities addressing the challenges and conditions of the urban city.

      The BMW Group's Cultural Engagement, with exclusive updates and deeper insights into its global initiatives can be followed on Instagram at @BMWGroupCulture.

      About India Art Fair India Art Fair is the leading platform to discover modern and contemporary art from South Asia. Since its establishment in 2008, India Art Fair has provided a unique access point to the region’s thriving cultural scene; drawing together galleries, artists, private foundations, arts charities, artist collectives, national institutions, cultural events, and festivals. Taking place annually in India’s capital, New Delhi, the fair reflects India’s dynamic art community, while offering insights into the creative landscapes of the wider region and enabling international audiences to engage with the cultural history and development of the region. The fair is committed to supporting arts education and professional development opportunities, recognising the crucial need to support the development of the local arts scene and provide dedicated exhibition space to emerging galleries and arts organisations. In 2025, India Art Fair introduces an expanded year-round programme of events, with a particular focus on developing meaningful initiatives in collaboration with key local stakeholders to complement existing programming and strengthen the market in the diverse span of art hubs across India. India Art Fair is owned and operated by Angus Montgomery Arts (AMA), a division of Angus Montgomery Ltd. indiaartfair.in BMW Group Cultural Engagement Why Culture? Why not! Culture is knowledge, a sanctuary of beauty and depth, of meaning and peace. An inspiring escape. Tranquil at best, even unsettling sometimes. As corporate citizen, the BMW Group takes social responsibility seriously, as part of which it has been involved in hundreds of cultural initiatives worldwide for over half a century, both in the arts, music & sound, architecture as well as in design. As a long-term partner, creative freedom is key – and as essential for groundbreaking works as it is for major innovations within a business enterprise like ours.

      Further information: www.bmwgroup.com/culture and www.bmwgroup.com/overview Instagram: @BMWGroupCulture If you have any queries, please contact: BMW Group India Abhay Dange, Director, Press and Corporate Affairs Cell: +91 9910481013; Tel: + 91 124 4566600; Email: [email protected] Satchit Gayakwad, Press and Corporate Affairs Cell: +91 9560725900; Tel: + 91 124 4566906; Email: [email protected] Internet: www.bmw.in Facebook: https://www.facebook.com/bmwindia X: https://x.com/bmwindia YouTube: https://www.youtube.com/user/bmwindia Instagram: https://www.instagram.com/bmwindia_official (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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