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    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
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August 9, 2026
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Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
August 8, 2026
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Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
August 8, 2026
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Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
August 8, 2026
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Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
August 8, 2026
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Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
August 8, 2026
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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
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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
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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".

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Rajasthan Budget focuses on jobs, water supply; commits to make state USD 350-bn economy by 2030

February 19, 2025

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Jaipur, Feb 19 (PTI) Recruitment for up to 2.75 lakh positions in the government and private sector, water supply projects, and the construction of nine greenfield expressways were the highlights of the Rajasthan Budget 2025-26 presented by state Finance Minister Diya Kumari in the assembly on Wednesday.

While presenting the Rs 5.37-lakh crore Budget, Kumari, who is also the Deputy Chief Minister of the state, announced that 20 lakh new houses will be provided with drinking water connections and Rs 400 crore will be spent for this purpose.

"We are committed to creating a USD 350 billion economy by 2030... We have increased capital expenditure by more than 40 per cent in a short period and have constructed more than 9,600 km of new roads and upgraded more than 13,000 km of roads," Kumari said.

Calling this the state's first "green Budget", Kumari said special focus will be given on climate change adoption, forest and environment, sustainable agriculture, water harvesting, recycling and waste disposal, circular economy, and capacity building.

"Under the leadership of Chief Minister Bhajanlal Sharma, the GDP, indicating the development of the state, is estimated to increase to more than Rs 19,89,000 crore in 2025-26," she said.

Kumari announced recruitment for 1.25 lakh posts in government departments and state undertakings and 1.50 lakh private sector jobs in the coming year.

In the speech, the finance minister said under the guidance of Prime Minister Narendra Modi, the state government has proved the trust expressed by the public was right by setting new records of development in the state in the first year of its tenure itself.

She said the state government will construct nine greenfield expressways at a cost of Rs 60,000 crore.

For the energy sector, she announced 50,000 new agriculture connections and 5 lakh domestic connections, abolition of banking with other states at high rates, solar plants, and 150 units of free electricity per month to beneficiaries under the CM Free electricity scheme.

An allocation of Rs 10 crore was made for work of non-patchable roads in each assembly constituencies and Rs 15 crore in constituencies under desert region, Rs 50 crore for detailed project report of ring roads in 15 cities, Rs 250 crore for traffic improvement work in Jaipur, Jaipur metro work from Sitapura industrial area to Ambabari and Vidhyadhar Nagar, DPR for Jaipur metro extension to Jagatpura and Vaishali Nagar.

A fund of Rs 150 crore was announced under the CM Thar region development programme, installation of 50,000 street lights in all cities of the state.

She announced global capacity centre policy for investment in the service sector, Rajasthan trade promotion policy for trading sector, development of 10 sites as iconic tourist destinations.

Kumari said Rs 100 crore will be spent to promote night tourism, Rs 100 crore for Tribal Tourist Circuit covering Tripura Sundari temple, Mangarh Dham, Beneshwar Dham and other temples, and Govind Devji Kala Mahotsav to mark 300 years of foundation of Jaipur.

She said "Vaidik Gurukul" and "Vaidik Tourism Centres" will be established in Jaipur, Jodhpur, and Udaipur, and "Yuva Sathi Kendra" in Kota, Jodhpur, Jaipur and Sikar to address the issues of suicides and stress among students.

'MAA' fund of Rs 3,500 crore was announced for free diagnosis and medicines to people, establishment of ultra-advanced burns care units at divisional headquarters, "zero accident zones" on Delhi-Jaipur, Jaipur-Agra, and Jaipur-Kota highways.

She said the monthly social security pension for the elderly, widow/single woman, differently abled people, and small and marginal farmers will be increased to Rs 1,250 from Rs 1,200.

Other Budget announcements included the establishment of a Centre for Cyber Control and war room at Rs 350 crore, and a hike in PM Kisan Samman Nidhi as well as the bonus per quintal on MSP on wheat.

The finance minister said the state government has delivered 58 per cent of its promises made in the election manifesto and has fulfilled 73 per cent of the previous Budget announcements.

In the Budget 2025-26, estimated revenue receipts were pegged at Rs 2.94 lakh crore, estimated revenue expenditure Rs 3.25 lakh crore and estimated revenue deficit Rs 31,009 crore. The estimated fiscal deficit was Rs 84,643 crore, or 4.25 per cent of the gross state domestic product (GSDP).

Addressing a post-Budget press conference, Chief Minister Bhajanlal Sharma said the Budget will ensure development of the state.

"We have taken a step forward toward making Rajasthan a developed state by 2047 by focusing on green growth," the CM said.

The leader of opposition, Tikaram Jully, however, said the Budget was "only going to put the burden of debt on the people of Rajasthan".

He said the financial management of the state government has completely failed.

"In the last Budget, it was estimated that there would be revenue receipts of about Rs 2.65 lakh crore, but this target could not be met and only Rs 2.62 lakh crore have been made," he told reporters after the Budget presentation.

"The biggest challenge facing the common man today is inflation. We expected some announcement to reduce inflation but nothing happened," he said.

"Our (former Congress) government had given an inflation relief package of Rs 19,000 crore in the Budget 2023-24, but today the word inflation did not come in the entire speech." Before the beginning of the Budget speech, Rajasthan Speaker Vasudev Devnani said the government will respond to issues raised by the Opposition after the Zero Hour on February 20.

Opposition Congress is demanding the government's response to the allegations of phone-tapping levelled by Cabinet Minister Kirodi Lal Meena.

The Budget session of the Rajasthan Legislative Assembly began on January 31, with the address of Governor Haribhau Bagde. PTI AG SDA TRB

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