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    Rupee falls 8 paise to 95.25 against US dollar in early trade
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    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
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    August 10, 2026
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    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    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
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    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
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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
    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.

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      Top Russian, American officials will hold talks on ending Ukraine war without Kyiv

      February 17, 2025

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      Riyadh, Feb 17 (AP) Senior American and Russian officials, including the countries' top diplomats, will hold talks on improving their ties and negotiating an end to the war in Ukraine, officials said Monday, in what would be the most significant meeting between the sides since Moscow's full-scale invasion of its neighbour nearly three years ago.

      The talks, scheduled for Tuesday in Saudi Arabia, mark another pivotal step by the Trump administration to reverse US policy on isolating Russia, and are meant to pave the way for a meeting between US President Donald Trump and Russian President Vladimir Putin.

      The recent US diplomatic blitz on the war has sent Kyiv and key allies scrambling to ensure a seat at the table amid concerns that Washington and Moscow could press ahead with a deal that won't be favourable to them. France called an emergency meeting of European Union countries and the UK on Monday to decide how to respond.

      Russian Foreign Minister Sergey Lavrov and Putin's foreign affairs adviser Yuri Ushakov set off for the Saudi capital on Monday, according to Russian state TV.

      US Secretary of State Marco Rubio, national security adviser Mike Waltz and Special Envoy Steve Witkoff will meet the Russian delegation, State Department spokesperson Tammy Bruce said. Ukraine will not participate.

      Kremlin spokesman Dmitry Peskov said the talks will be primarily focused on “restoring the entire range of US-Russian relations, as well as preparing possible talks on the Ukrainian settlement and organising a meeting of the two presidents." Bruce said the meeting is aimed at determining how serious the Russians are about wanting peace and whether detailed negotiations can be started.

      “I think the goal, obviously, for everyone is to determine if this is something that can move forward,” she told reporters travelling with Rubio in Riyadh, Saudi Arabia. Bruce said that even though Ukraine would not be at the table for Tuesday's talks, actual peace negotiations would not take place with Ukraine's involvement. Kyiv's participation in any peace talks was a bedrock of US policy under Trump's predecessor, Joe Biden.

      Speaking on Fox News Channel's “Sunday Morning Futures” program, Witkoff said he and Waltz will be “having meetings at the direction of the president,” and hope to make “some really good progress with regard to Russia-Ukraine.” Witkoff didn't directly respond to a question about whether Ukraine would have to give up a “significant portion” of its territory as part of any negotiated settlement. US Defence Secretary Pete Hegseth said last week that NATO membership for Ukraine was unrealistic and suggested Kyiv should abandon hopes of winning all its territory back from Russia — two key items on Putin's wish list.

      The talks would mark a significant expansion of US-Russian contacts, nearly three years into a war that has seen ties fall to the lowest level in decades. Lavrov and then-US Secretary of State Antony Blinken talked briefly on the sidelines of a G-20 meeting in India nearly two years ago.

      The 10-minute conversation didn't ease tensions, and in fact they increased in the months that followed. In the fall of 2022, US and Russian spymasters met in Turkey amid Washington's concerns that Moscow could resort to nuclear weapons amid battlefield setbacks.

      Tuesday's talks follow a telephone call between Trump and Putin in which the American president said they “agreed to have our respective teams start negotiations immediately.” The call upended years of US policy, ending the isolation of Moscow over its February 24, 2022, invasion of Ukraine. After the call, Trump phoned Ukrainian President Volodymyr Zelenskyy to inform him about their conversation.

      Trump on Sunday told reporters that Zelenskyy “will be involved” but did not elaborate. The Ukrainian president said Monday his country had not been invited to the upcoming talks and won't accept the outcome if Kyiv doesn't take part.

      The US-Russia talks would “yield no results,” given the absence of any Ukrainian officials, Zelenskyy said on a conference call with journalists from the United Arab Emirates.

      Zelenskyy said he would travel to Turkiye on Monday and to Saudi Arabia on Wednesday, but that his trip to the Arab nation was unrelated to the US-Russia talks.

      EU officials have pushed for the bloc — which along with the US has staunchly supported Kyiv — to have a say in any Ukraine peace talks, and Zelenskyy and his officials also insisted that Europe needs to be present at the negotiations.

      Lavrov on Monday was dismissive when asked about a possible role for Europe, saying that “I don't know what they have to do at the negotiations table.” Asked about expectations from the talks in Riyadh, he said that Trump and Putin in their call “agreed to leave behind that absolutely abnormal period in relations between our great powers when they effectively halted any contacts except for some technical and humanitarian issues.” “The presidents agreed that it's necessary to resume a dialogue on all issues that can be solved with Russian and US participation,” Lavrov said. “They mentioned the Ukrainian settlement along with the situation in the Middle East and some other regions of the world which aren't quite calm at the moment.” Lavrov bluntly ruled out the possibility that Moscow would cede any of its territorial gains as part of a potential settlement, saying that “there is not even a thought” about it.

      Putin has demanded that Ukraine withdraw its troops from the four regions that Russia illegally annexed in September 2022 but never fully captured and renounce its bid to join NATO as part of any prospective peace deal — demands Kyiv has rejected.

      Zelenskyy also confirmed that Trump's special envoy for Russia and Ukraine, retired Gen. Keith Kellogg, would arrive in Kyiv on February 20 for “broad conversations about security guarantees.” Zelenskyy said he wanted to bring Kellogg to the front line and hoped the American would take what he learned from his Ukraine trip back to the White House, adding: “I think after he goes back to the United States we will have an understanding on when I will have a meeting with President Trump.” Zelenskyy said the possibility of opening up his country's mineral resources to the US, as Trump has suggested, would need to come with a written agreement on security guarantees for Ukraine. Ukraine and several European countries have insisted that without security guarantees, Russia could invade the country again, even if a settlement is reached.

      Those guarantees could include NATO membership, which Hegseth poured cold water on, weapons and economic support, Zelenskyy said.

      Ukraine has also expressed hopes of joining the EU, but that is complicated and could take years. (AP) GRS GRS

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