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    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, ...
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    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
    Vijayan slams Kerala govt's move to end doorstep pension delivery through cooperative banks
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    APEDA Organises BIOFACH INDIA 2026 to Promote India's Certified Organic Products and Expand Global Market Access
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    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
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    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
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    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
    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
    Show AI Summary
    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
    August 7, 2026
    Show AI Summary
    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
    Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
    August 7, 2026
    Show AI Summary
    Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
    Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
    August 7, 2026
    Show AI Summary
    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
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    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
    August 7, 2026
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    Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
    BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.

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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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