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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
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    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
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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
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    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
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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
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    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
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    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
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    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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      Top Russian, US officials discuss improving ties and ending Ukraine war - without Kyiv

      February 18, 2025

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      Riyadh, Feb 18 (AP) The top diplomats from Russia and the US met Tuesday in Saudi Arabia to discuss improving ties and negotiating an end to the war in Ukraine — talks that reflected a major and rapid change in American foreign policy under President Donald Trump.

      No Ukrainian officials were present at the meeting, which came as the beleaguered country is slowly but steadily losing ground against more numerous Russian troops in a grinding war that began nearly three years ago.

      President Volodymyr Zelenskyy said his country won't accept any outcome from this week's talks if Kyiv doesn't take part. European allies have also expressed concerns they are being sidelined.

      Beyond Ukraine, the meeting — attended by US Secretary of State Marco Rubio, Russian Foreign Minister Sergey Lavrov and other senior officials — had been expected to focus on thawing relations between the two countries, whose ties have fallen to their lowest level in decades.

      Improving Russian-US relations In an interview with The Associated Press after the meeting, Rubio said the two sides agreed broadly to pursue three goals: to restore staffing at their respective embassies in Washington and Moscow, to create a high-level team to support Ukraine peace talks, and to explore closer relations and economic cooperation.

      Both embassies have been hit hard by expulsions of large numbers of diplomats over the course of several years as relations soured and the US, along with European nations, imposed a raft of sanctions on Russia. The allies have repeatedly expanded the measures to damage its economy.

      “Should this conflict come to an acceptable end, the incredible opportunities that exist to partner with the Russians geopolitically on issues of common interest and frankly, economically on issues that hopefully will be good for the world and also improve our relations in the long term,” Rubio said.

      His remarks were further evidence of the remarkable US reversal on Russia after years in which Trump's predecessor led international efforts to isolate Moscow.

      Tuesday's meeting was meant to pave the way for a summit between Trump and Russian President Vladimir Putin. After the talks wrapped, Putin's foreign affairs advisor, Yuri Ushakov, told Russia's Channel One that no date has been set yet for that summit but that it was “unlikely” to take place next week.

      Ushakov's remarks suggested the two sides made little progress. Russia and the United States agreed to “take each other's interests into account” and advance their relations. He added that it was “hard to say” that the two countries' positions “are getting closer, but there was talk about it.” Previously, Kremlin spokesman Dmitry Peskov told reporters that the talks would be primarily focused on “restoring the entire range of US-Russian relations, as well as preparing possible talks on the Ukrainian settlement and organizing a meeting of the two presidents.” US State Department spokeswoman Tammy Bruce has said the meeting was aimed at determining how serious the Russians are about wanting peace and whether detailed negotiations can be started.

      Concerns from allies they are being sidelined The recent US diplomatic blitz on the war has sent Ukraine 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 favorable to them.

      Kyiv's absence at Tuesday's talks has rankled many Ukrainians, and France called an emergency meeting of European Union countries and the UK on Monday to discuss the war.

      Rubio said Tuesday that ending Russia's war in Ukraine would require concessions from all sides and that Europe would be a part of talks.

      When asked about sanctions against Russia, Rubio noted that the measures were imposed as a result of Russia's invasion and that it's not just the US that has imposed them.

      “The European Union is going to have to be at the table at some point because they have sanctions as well that have been imposed,” he said.

      Kyiv's participation in such talks was a bedrock of U.S. policy under Joe Biden, whose administration also led international efforts to isolate Russia over the war.

      French President Emmanuel Macron on Tuesday said he spoke by phone to Trump and Zelenskyy following the meeting he called in Paris.

      “We seek a strong and lasting peace in Ukraine,” Macron wrote on social media platform X. “To achieve this, Russia must end its aggression, and this must be accompanied by strong and credible security guarantees for the Ukrainians,” he said and vowed to “work on this together with all Europeans, Americans, and Ukrainians.” Peskov on Tuesday said that Putin has repeatedly expressed readiness for peace talks, and noted that a durable settlement of the conflict in Ukraine would be impossible without “a comprehensive consideration of security issues” in Europe.

      Saudi Arabia's role The meeting at the Diriyah Palace in the Saudi capital of Riyadh also highlights de facto leader Crown Prince Mohammed bin Salman's efforts to be a major diplomatic player, burnishing a reputation severely tarnished by the 2018 killing of Washington Post journalist Jamal Khashoggi.

      Saudi state media described the talks as happening at the prince's direction. Like the neighbouring United Arab Emirates, the prince has maintained close relations to Russia throughout its war on Ukraine, both through the OPEC+ oil cartel and diplomatically as well.

      Saudi Arabia has also helped in prisoner negotiations and hosted Zelenskyy for an Arab League summit in 2023. Zelenskyy said he would travel to the kingdom later this week.

      Rubio was accompanied by U.S. national security adviser Mike Waltz and special envoy Steve Witkoff, while Lavrov sat next to the Kremlin's foreign affairs adviser, Yuri Ushakov. Saudi Foreign Minister Faisal bin Farhan and national security adviser Musaed al Alban joined Rubio, Lavrov and others for the start of the meeting but were expected to leave early in the talks.

      Ahead of the talks, Kirill Dmitriev, the head of Russia's sovereign wealth fund who the Kremlin said might join, underscored the importance of the meeting.

      “Good US-Russia relations are very important for the whole world. Only jointly can Russia and the US address lots of world problems, resolve for global conflicts and offer solutions,” Dmitriev, who said he and his team would focus on economic issues at the talks, told the AP.

      The meeting marked the most extensive contact between the two countries since Moscow's Feb. 24, 2022, invasion. 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, and 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.

      War continues Meanwhile, Russia continued to pummel Ukraine with drones, according to Kyiv's military. The Ukrainian air force said Russian troops launched a barrage of 176 drones at Ukraine overnight, most of which were destroyed or disabled by jamming.

      One Russian drone struck a residential building in Dolynska in the Kirovohrad region, wounding a mother and her two children and prompting an evacuation of 38 apartments, the regional administration reported. Four more residential buildings were damaged by drone debris in the Cherkasy region of Ukraine, according to local official. (AP) GSP

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