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    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    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
    DRI intensifies vigil along India's North-Eastern Frontier
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    August 8, 2026
    Show AI Summary
    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
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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
    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".
    August 7, 2026
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    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.

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      Vance makes debut as VP on international stage at high-stakes AI summit in Paris

      February 10, 2025

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      Paris, Feb 10 (AP) JD Vance is stepping onto the world stage for the first time as US vice president this week, using a high-profile artificial intelligence summit in France and a gathering of national security leaders in Germany to showcase Donald Trump's more assertive approach to diplomacy.

      The 40-year-old vice president, who was just 18 months into his tenure as a senator before joining Trump's ticket, is expected, while in Paris, to push back on European efforts to tighten AI oversight while advocating for a more open, innovation-driven approach.

      The AI summit has drawn world leaders, top tech executives, and policymakers to discuss artificial intelligence's impact on global security, economics, and governance. High-profile attendees also include Chinese Vice Premier Zhang Guoqing, signalling Beijing's deep interest in shaping global AI standards.

      The event highlights efforts by France and the European Union to position themselves as leading forces in the AI race, emphasising innovation and investment while seeking to ensure the technology's safe development. Meanwhile, the Trump administration has prioritised business-friendly policies and technological dominance.

      Vance's trip extends beyond Paris. Later this week, he will travel to Germany for the Munich Security Conference, where he has said he plans to push European allies to step up their commitments to NATO and Ukraine.

      Vance's debut abroad The summit will give some European leaders an introduction to Vance, who is making his first major overseas trip since taking office. He has signalled he will use the summit as a venue for candid discussions on AI policy and broader geopolitical issues.

      “At the AI Summit, the main reason I'm going is actually to have some private conversations with the world leaders who are also going to be there,” Vance told Breitbart News. “I think there's a lot that some of the leaders who are present at the AI summit could do to, frankly — bring the Russia-Ukraine conflict to a close, help us diplomatically there — and so we're going to be focused on those meetings in France.” Vance is expected to meet separately on Tuesday on the sidelines of the summit with Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen, according to a person familiar with planning who spoke on the condition of anonymity to discuss the yet to be formally announced bilateral meetings.

      Vance was joined by his wife Usha and their three children — Ewan, Vivek and Mirabel — for the trip to Europe. They were greeted in France on Monday morning by Manuel Valls, the minister for Overseas France, and the US Embassy's charge d'affaires, David McCawley.

      On Tuesday, Vance will have a working lunch with French President Emmanuel Macron, with discussions on Ukraine and the Middle East on the agenda.

      Vance, like the US president, has questioned US spending on Ukraine and the broader approach to isolating Russian President Vladimir Putin. Trump promised to end the fighting within six months of taking office.

      Vance also addressed what he views as a concerning trend in Europe regarding free speech, a topic he raised last year at the Munich Security Conference.

      “Unfortunately, you've seen in Europe a really significant, and I think, frankly, an evil trend towards censorship,” he said. “And you hear a lot about America's moral leadership.

      One of the things that America's moral leadership is going to be about during President Trump's term is free speech. We want people to be able to speak their minds, and we believe that free and open debate is actually a good thing. Unfortunately, a lot of our European friends have gone the wrong direction there.” Vance is attending Munich again, where he may meet with Ukrainian President Volodymyr Zelenskyy. He plans to revisit themes he raised last year, including “to hit on” the need for NATO allies to take on a greater share of responsibility.

      Leaders in Europe have been carefully watching Trump's recent statements on threats to impose tariffs on the European Union, take control of Greenland and his suggestion that Palestinians clear out of Gaza once the fighting in the Israel-Hamas conflict ends — an idea that's been flatly rejected by Arab allies.

      Fostering AI advances The summit, which gathers major players such as Google, Microsoft and OpenAI, aims at fostering AI advances in sectors like health, education, environment and culture.

      A global public-private partnership named “Current AI” will be launched to support large-scale initiatives that serve the general interest.

      The Paris summit “is the first time we'll have had such a broad international discussion in one place on the future of AI,” said Linda Griffin, vice president of public policy at Mozilla. “I see it as a norm-setting moment.” Nick Reiners, senior geotechnology analyst at Eurasia Group, noted an opportunity to shape AI governance in a new direction by “moving away from this concentration of power amongst a handful of private actors and building this public interest AI instead." However, it remains unclear if the United States will support such initiatives.

      “There's a lot of complicated questions to resolve” around issues like the ability to control AI systems, Nobel Prize winner Demis Hassabis, founder of Google's DeepMind research lab, said. “But also I think even more complicated are maybe the geopolitical questions about things like regulation.” French organisers are also looking for the summit to ignite major investment announcements in Europe, positioning the region as a viable contender in an industry increasingly shaped by a growing US-China rivalry.

      France plans to announce AI private investments worth a total of 109 billion euros (USD 113 billion) over the coming years, Macron said, presenting it as “the equivalent” of Trump's Stargate AI data centres project.

      On the eve of the AI Summit, Macron posted a series of 'deepfake' videos of himself on Instagram, using artificial intelligence to manipulate his voice and image in various parodies—an effort he said was meant to spark debate on AI's potential and risks.

      In Beijing, Chinese Foreign Ministry spokesperson Guo Jiakun expressed opposition Monday to any moves to restrict access to AI tools. The release of DeepSeek has prompted calls in the US Congress to limit its use for security reasons.

      “We oppose drawing ideological lines and oppose overstretching national security concepts and politicising economic and trade issues,” Guo said.

      He said that China advocates for open-source AI technology and promotes the accessibility of AI services to share the benefits of artificial intelligence with all countries.

      India's Modi is co-hosting the summit Modi is co-hosting the summit with Macron in an effort to involve more global actors in AI development and prevent the sector from becoming a US-China battle.

      Indian Foreign Secretary Vikram Misri stressed the need for equitable access to AI to avoid "perpetuating a digital divide that is already existing across the world.” Macron will also travel on Wednesday with Modi to the southern French port city of Marseille to inaugurate an Indian Consulate there and visit the ITER nuclear research site.

      France has become a key defense partner for India, with talks underway on New Delhi purchasing 26 Rafale fighter jets and three Scorpene submarines. Officials in India said that discussions are at the final phase and the deal could be inked in a few weeks. (AP) GRS GRS

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