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    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
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    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
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    August 10, 2026
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    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
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    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
    Show AI Summary
    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
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    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
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    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
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    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
    August 9, 2026
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    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
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Aero India platform showcases 'strength, resilience, self-reliance' of new India: Rajnath

      February 9, 2025

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      New Delhi, Feb 9 (PTI) The 15th edition of 'Aero India', billed as Asia's largest air show, is all set to be inaugurated in Bengaluru on February 10 by Defence Minister Rajnath Singh, who on Sunday said this is a platform that showcases the "strength, resilience and self-reliance" of a new India.

      Organised in a total area of over 42,000 sq m and with the confirmed participation of over 900 exhibitors, including 150 foreign companies, the event is set to be the biggest-ever 'Aero India' till date.

      Singh, who reached Bengaluru on Sunday, termed the participation of more than 90 countries as a "testament to the growing global confidence" in India's aerospace and defence capabilities, the Defence Ministry said in a statement.

      The Union minister expressed confidence that defence production, having crossed the record figure of Rs 1.27 lakh crore, will exceed Rs 1.60 lakh crore by the end of 2025-26.

      Defence exports, which touched the record figure of Rs 21,000 crore, will surpass Rs 30,000 crore, he was quoted as saying in the statement.

      'Aero India' is a biennial air show and aviation exhibition, which is held in Bengaluru, organised by the Defence Exhibition Organisation, Department of Defence Production, Ministry of Defence.

      It is India's premier aerospace and defence exhibition where global aero vendors and the Indian Air Force (IAF) thrill the spectators with back-to-back aerobatic flying displays.

      The minister termed 'Aero India' a significant driver of economic strength, contributing to the overall growth and development of the economy. He expressed confidence that 'Aero India' will be remembered as a "historic milestone in India's journey" towards becoming a global leader in the aerospace and defence sector.

      Earlier in the day, Singh in a post on X said he will be attending the 15th edition of 'Aero India' in Bengaluru that will showcase cutting-edge defence technologies and global aviation excellence, and that he was looking forward to witness the future of aerospace sector.

      The Asia's largest air show is hosted at Air Force Station, Yelahanka, in the southern city.

      In a first, the 'Aero India' mega event will witness participation of two of the world's most advanced fifth-generation fighter aircraft --- the Russian Su-57 and the American F-35 Lightning II, the statement said.

      Later, Singh told reporters in Bengaluru that 'Aero India' is a crucial platform, which will drive forward the government's vision of a "strong, capable India, secure and self-reliant India", the ministry said in the statement here.

      The broad theme of this edition is -- 'The Runway to a Billion Opportunities'.

      "Aero India is a platform that showcases the strength, resilience, and self-reliance of new India. It is not just crucial for India's defence preparedness, but it also plays a pivotal role in shaping the future of our nation," Singh said.

      It will demonstrate India's defence capabilities and forge global partnerships, he said.

      Defence ministers or representatives from "about 30 countries" have come to participate in this event.

      The presence of air chiefs and secretaries from 43 countries further highlights the significance of this event - not just for India, but for the entire international defence community, Singh underlined.

      "Our goal is to enhance collaboration in areas of common interest with our friendly nations, fostering deeper cooperation and shared progress. The event is not just a showcase of technology and innovation, but will also serve as a source of inspiration for our youth, fostering scientific temperament and a spirit of innovation," he said.

      The Department of Defence Production also shared an update on its X handle about the show that will take place from February 10-14.

      In a post on X on Sunday, the department said that the defence minister will also inaugurate the 'India Pavillion' at Aero India 2025 on February 10.

      On the eve of the inauguration of the mega event, IAF Chief Air Chief Marshal A P Singh and Army Chief Gen Upendra Dwivedi on Sunday flew a sortie together in a Light Combat Aircraft (LCA) Tejas from the Air Force Station, Yelahanka.

      A flagship event 'Aero India' brings together global industry leaders, government officials, technology experts and defence strategists under one roof, officials said.

      "Aero India stands as a testament to India's unwavering commitment to innovation, strategic collaboration, and excellence in aerospace and defence," the ministry said ahead of the mega event.

      The event promises to build on the rich legacy of previous editions, most notably, the Aero India 2023.

      "Through rigorous operational protocols, strategic partnerships, and a forward-thinking agenda, Aero India 2025 is poised to further elevate India's profile on the global aerospace stage," the ministry said.

      Highlighting the transformation of the defence and aerospace sector in the recent years, Singh asserted that, today, India is not only capable of designing and developing major platforms and equipment within India, it has also "successfully established" a vast supply chain within the country.

      "Advanced platforms like Light Combat Aircraft Tejas, Light Combat Helicopter Prachand and C295 transport aircraft are now being produced in India. We have also taken a firm resolve to manufacture fifth-generation fighter aircraft within the country. From the advanced variants of the Agni missile, the Astra missile system, and the Pinaka missile system to the cutting-edge hypersonic missile system and the Akash air defence system, we have built numerous success stories," he said.

      "These achievements have played a crucial role in strengthening our defence sector, making India more self-reliant and secure," the Union minister said.

      Singh added that post corporatisation of Ordnance Factory Board, the newly formed companies have started performing "exceptionally well" in defence production.

      "Under a well-considered and well-developed plan, we have actively worked to empower the private sector in the defence and aerospace industries. Today, India has a thriving private defence industry that has firmly established itself and is making significant contributions to our national security," he said.

      Singh underlined the crucial role being played by the defence industrial sector in making India an economic super power. He stated that any breakthrough in the defence sector not only strengthens national security, but also impacts the economy.

      Technologies developed for defence applications promote innovation in the civil sector as well, leading to employment generation and economic development, he said.

      February 10 to February 12 have been reserved as business days at the five-day mega event, while February 13 and February 14 are set as public days for people to witness the show.

      The event comprises a Defence Ministers' Conclave; CEOs Roundtable; inauguration of India and iDEX pavillions; Manthan iDEX event; Samarthya indigenisation event; seminars, breath-taking airshows and an exhibition featuring many aerospace companies. PTI KND AS AS

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