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    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
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    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
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    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
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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.
    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.

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      Customs & Trade

      Trump says he wants to negotiate about Ukraine. It's not clear if Putin really does

      February 8, 2025

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      Moscow, Feb 8 (AP) Nearly three years after President Vladimir Putin invaded Ukraine, his troops are making steady progress on the battlefield. Kyiv is grappling with shortages of men and weapons. And the new US president could soon halt Ukraine's massive supply of military aid.

      Putin is closer than ever to achieving his objectives in the battle-weary country, with little incentive to come to the negotiating table, no matter how much US President Donald Trump might cajole or threaten him, according to Russian and Western experts interviewed by The Associated Press.

      Both are signalling discussions on Ukraine -– by phone or in person -– using flattery and threats.

      Putin said Trump was “clever and pragmatic,” and even parroted his false claims of having won the 2020 election. Trump's opening gambit was to call Putin “smart” and to threaten Russia with tariffs and oil price cuts, which the Kremlin brushed off.

      Trump boasted during the campaign he could end the war in 24 hours, which later became six months. He's indicated the US is talking to Russia about Ukraine without Kyiv's input, saying his administration already had “very serious” discussions.

      He suggested he and Putin could soon take “significant” action toward ending the war, in which Russia is suffering heavy casualties daily while its economy endures stiff Western sanctions, inflation and a serious labour shortage.

      But the economy has not collapsed, and because Putin has unleashed the harshest crackdown on dissent since Soviet times, he faces no domestic pressure to end the war.

      “In the West, the idea came from somewhere that it's important to Putin to reach an agreement and end things. This is not the case,” said Fyodor Lukyanov, who hosted a forum with Putin in November and heads Moscow's Council for Foreign and Defense policies.

      Talks on Ukraine without Ukraine Ukrainian President Volodymyr Zelenskyy says Putin wants to deal directly with Trump, cutting out Kyiv.

      That runs counter to the Biden administration's position that echoed Zelenskyy's call of “Nothing about Ukraine without Ukraine." “We cannot let someone decide something for us,” Zelenskyy told AP, saying Russia wants the “destruction of Ukrainian freedom and independence.” He suggested any such peace deal would send the dangerous signal that adventurism pays to authoritarian leaders in China, North Korea and Iran.

      Putin appears to expect Trump to undermine European resolve on Ukraine. Likening Europe's leaders to Trump's lapdogs, he said Sunday they will soon be “sitting obediently at their master's feet and sweetly wagging their tails” as the US president quickly brings order with his ”character and persistence." Trump boasts of his deal-making prowess but Putin will not easily surrender what he considers Russia's ancestral lands in Ukraine or squander a chance to punish the West and undermine its alliances and security by forcing Kyiv into a policy of neutrality.

      Trump may want a legacy as a peacemaker, but “history won't look kindly on him if he's the man who gives this all away,” said Sir Kim Darroch, British ambassador to the US from 2016-19. Former NATO spokesperson Oana Lungescu said a deal favoring Moscow would send a message of "American weakness.” Echoes of Helsinki Trump and Putin last met in Helsinki in 2018 when there was “mutual respect” between them, said former Finnish President Sauli Niinistö, the summit host. But they are “not very similar,” he added, with Putin a “systematic” thinker while Trump acts like a businessman making “prompt” decisions.

      That could cause a clash because Trump wants a quick resolution to the war while Putin seeks a slower one that strengthens his military position and weakens both Kyiv and the West's political will.

      Zelenskyy told AP that Putin "does not want to negotiate. He will sabotage it.” Indeed, Putin has already raised obstacles, including legal hurdles and claimed Zelenskyy has lost his legitimacy as president.

      Putin hopes Trump will “get bored” or distracted with another issue, said Boris Bondarev, a former Russian diplomat in Geneva who quit his post after the invasion.

      Russian experts point to Trump's first term when they said Putin realized such meetings achieved little.

      One was a public relations victory for Moscow in Helsinki where Trump sided with Putin instead of his own intelligence agencies on whether Russia meddled in the 2016 election. Another was in Singapore in 2019 with North Korean leader Kim Jong Un when he failed to reach a deal to halt Pyongyang's nuclear programme.

      Previous peace talks The Kremlin last year said? a draft peace agreement ?that Russia and Ukraine negotiated in Istanbul early in the conflict — but which Kyiv rejected — could be the basis for talks.? It demanded Ukraine's neutrality, stipulated NATO deny it membership, put limits on Kyiv's armed forces and delayed talks on the status of four Russian-occupied regions that Moscow later annexed illegally.? Moscow also dismissed? demands to withdraw its troops, pay compensation to Ukraine and face an international tribunal for its action.

      Putin hasn't indicated he will budge but said “if there is a desire to negotiate and find a compromise solution, let anyone conduct these negotiations.” “Engagement is not the same as negotiation,” said Sir Laurie Bristow, British ambassador to Russia from 2016-20, describing Russia's strategy as “what's mine is mine. And what's yours is up for negotiation.” Bondarev also said Putin sees negotiations only as a vehicle “to deliver him whatever he wants," adding it's “astonishing” that Western leaders still don't understand Kremlin tactics.

      That means Putin is likely to welcome any meeting with Trump, since it promotes Russia as a global force and plays well domestically, but he will offer little in return.

      What Trump can and can't do Trump said Zelenskyy should have made a deal with Putin to avoid war, adding he wouldn't have allowed the conflict to start if he had been in office.

      Trump has threatened Russia with more tariffs, sanctions and oil price cuts, but there is no economic “wonder weapon” that can end the war, said Richard Connolly, a Russian military and economic expert at London's Royal United Services Institute.

      And the Kremlin is brushing off the threats, likely because the West already has heavily sanctioned Russia.

      Trump also can't guarantee Ukraine would never join NATO, nor can he lift all Western sanctions, easily force Europe to resume importing Russian energy or get the International Criminal Court to rescind its war crimes arrest warrant for Putin.

      Speaking to the Davos World Economic Forum, Trump said he wants the OPEC+ alliance and Saudi Arabia to cut oil prices to push Putin to end the war. The Kremlin said that won't work because the war is about Russian security, not the price of oil. It also would harm US oil producers.

      “In the tradeoff between Putin and domestic oil producers, I'm pretty sure which choice Trump will make,” said Alexandra Prokopenko, a fellow at the Carnegie Russia Eurasia Center in Berlin.

      Trump could pressure Russia by propping up the US oil industry with subsidies and lift the 10% trade tariffs imposed on China in exchange for Beijing limiting economic ties with Moscow, which could leave it “truly isolated,” Connolly said.

      Europe also could underscore its commitment to Kyiv – and curry favour with Trump – by buying US military equipment to give to Ukraine, said Lord Peter Ricketts, a former UK national security adviser.

      Lukyanov suggested that Trump's allies often seem afraid of him and crumble under his threats.

      The “big question,” he said, is what will happen when Putin won't. (AP) AMS

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