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    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
    Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India'
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    Rupee settles with 5 paise gain at 95.17 against US dollar
    India weathered Hormuz disruption without fuel shortages: Puri
    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
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    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
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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.
    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
    Show AI Summary
    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
    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.
    August 7, 2026
    Show AI Summary
    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
    Show AI Summary
    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
    Show AI Summary
    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
    Show AI Summary
    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
    Show AI Summary
    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
    Show AI Summary
    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
    Show AI Summary
    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
    Show AI Summary
    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".

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      After ceasefire in Gaza, West Bank Palestinians face more Israeli barriers, traffic, misery

      February 10, 2025

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      Ramallah (West Bank), Feb 10 (AP) Abdullah Fauzi, a banker from the northern West Bank city of Nablus, leaves home at 4 a.m. to reach his job by 8, and he's often late.

      His commute used to take an hour — until Hamas' attack on Israel on October 7, 2023, after which Israel launched its offensive in the Gaza Strip.

      The Israeli military also ramped up raids against Palestinian militants in the northern West Bank, and diverted its residents through seven new checkpoints, doubling Fauzi's time on the road.

      Now it's gotten worse.

      Since the ceasefire in Gaza between Israel and Hamas took effect, Fauzi's drive to the West Bank's business and administrative hub, Ramallah, has become a convoluted, at least four-hour wiggle through steep lanes and farm roads as Israel further tightens the noose around Palestinian cities in measures it considers essential to guard against militant attacks.

      “You can fly to Paris while we're not reaching our homes," the 42-year-old said from the Atara checkpoint outside Ramallah last week, as Israeli soldiers searched scores of cars, one by one.

      “Whatever this is, they've planned it well," he said. "It's well-designed to make our life hell.” A ceasefire begets violence As the truce between Israel and Hamas took hold on January 19, radical Israeli settlers — incensed over an apparent end to the war and the release of Palestinian prisoners in exchange for Israeli hostages — rampaged through West Bank towns, torching cars and homes.

      Two days later, Israeli forces with drones and attack helicopters descended on the northern West Bank city of Jenin, long a centre of militant activity.

      More checkpoints started going up between Palestinian cities, slicing up the occupied West Bank and creating choke points the Israeli army can shut off on a whim. Crossings that had been open 24/7 started closing during morning and evening rush hours, upturning the lives of hundreds of thousands of people.

      New barriers — earthen mounds, iron gates — multiplied, pushing Palestinian cars off well-paved roads and onto rutted paths through open fields. What was once a soldier's glance and head tilt became international border-like inspections.

      Israel says the measures are to prevent Hamas from opening a new front in the West Bank. But many experts suspect the crackdown has more to do with assuaging settler leaders like Bezalel Smotrich, the finance minister and an important ally of Prime Minister Benjamin Netanyahu, who has threatened to topple the government if Israel does not restart the war in Gaza.

      “Israel now has a free hand to pursue what it has wanted to in the West Bank for a long time: settlement expansion, annexation,” said Tahani Mustafa, a senior analyst at the International Crisis Group. “It was considered a potential trade-off.” Asked why Israel launched the crackdown during the ceasefire, the Israeli military said politicians gave the order in part over concerns that the release of Palestinian prisoners — in swaps for Israeli hostages held by Hamas — could raise tensions in the West Bank.

      The checkpoints all over the West Bank, it said, were “to ensure safe movement and expand inspections".

      “Checkpoints are a tool we use in the fight against terror, enabling civilian movement while providing a layer of screening to prevent terrorists from escaping,” said Lt. Col. Nadav Shoshani, an Israeli military spokesman.

      Life disrupted To spend rush hour at an Israeli checkpoint is to hear of the problems it has brought — Palestinian families divided, money lost, trade disrupted, sick people kept from doctors.

      Ahmed Jibril said not even his position as manager of emergency services for the Palestinian Red Crescent protects him.

      “We're treated like any other private car,” he said, describing dozens of cases in which Israeli soldiers forced ambulances to wait for inspection when they were responding to emergency calls.

      In one case, on January 21, the Palestinian Health Ministry reported that a 46-year-old woman who had suffered a heart attack in the southern city of Hebron died while waiting to cross a checkpoint.

      The Israeli military said it was not aware of that specific incident. But citing Hamas' use of civilian infrastructure like hospitals to conceal fighters, the army acknowledged subjecting medical teams to security checks “while trying to reduce the delay as much as possible in order to mitigate harm”.

      The UN humanitarian agency, or OCHA, reported that, as of last November 28, Israel had 793 checkpoints and roadblocks in the West Bank, 228 more than before the war in Gaza.

      The agency hasn't updated the tally since the ceasefire, but its latest report noted a surge in “suffocating restrictions” that are “tearing communities apart and largely paralysing daily life”.

      A bubble bursts With its upscale restaurants and yoga studios, Ramallah gained a reputation in past conflicts for being something of a well-to-do bubble where cafe-hopping residents can feel immune to the harsh realities of the occupation.

      Now its residents, struck in numbingly long lines to run simple errands, feel under siege.

      “All we want to do is go home,” said Mary Elia, 70, stalled with her husband for nearly two hours at the Ein Senia checkpoint north of Ramallah last week, as they made their way home to east Jerusalem from their daughter's house. “Are we meant to never see our grandchildren?” Suddenly, her face contorted in discomfort. She had to urinate, she said, and there were hours to go before they crossed.

      A national obsession Roll down the window at a bottlenecked checkpoint and the same soothing female voice can be heard emanating from countless car radios, reeling off every Israeli checkpoint, followed by “salik” — Arabic for open — or “mughlaq,” closed, based on the conditions of the moment.

      These reports recently beat out weather broadcasts for top slot on the West Bank radio lineup.

      Almost every Palestinian driver seems able to expound on the latest checkpoint operating hours, the minutiae of soldiers' mood changes and fiercely defended opinions about the most efficient detours.

      “I didn't ask for a Ph.D. in this,” said Yasin Fityani, 30, an engineer stuck in line to leave Ramallah for work, scrolling through new checkpoint-dedicated WhatsApp groups filled with footage of soldiers installing cement barriers and fistfights erupting over someone cutting the line.

      Lost time, lost money It was the second time in as many weeks that his boss at the Jerusalem bus company called off his morning shift because he was late.

      Worse still for Nidal Al-Maghribi, 34, it was too dangerous to back out of the queue of frustrated motorists waiting to pass Jaba checkpoint, which severs his east Jerusalem neighbourhood from the rest of the city. Another full day's work wasted in his car.

      “What am I supposed to tell my wife?” he asked, pausing to keep his composure. “This job is how I feed my kids.” Palestinian trucks, packed with perishable food and construction materials, are not spared the scrutiny. Soldiers often ask truckers to pull over and unload their cargo for inspection. Fruit rots. Textiles and electronics get damaged.

      The delays raise prices, further choking a Palestinian economy that shrank 28 per cent last year as a result of punitive Israeli policies imposed after Hamas' attack, said Palestinian Economy Minister Mohammad Alamour. Israel's ban on most Palestinian workers has left 30 per cent of the West Bank's workforce jobless.

      “These barriers do everything except their stated purpose of providing security," Alamour said.

      “They pressure the Palestinian people and the Palestinian economy. They make people want to leave their country.” (AP) PY PY

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