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    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
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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".
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.
August 7, 2026
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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
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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
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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.
August 6, 2026
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Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
August 6, 2026
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Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
August 6, 2026
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Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
August 6, 2026
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Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
August 6, 2026
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Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.

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Senate staying up all night to push GOP budget over objections from Democrats

February 21, 2025

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Washington, Feb 21 (AP) Senators kept chugging through an all-night budget “vote-a-rama,” a crucial, if dreaded, step toward unleashing a USD 340 billion package President Donald Trump's team says it needs for mass deportations and security measures that top the Republican agenda.

If ever there was a time to watch Congress in action, this might be it. Or not. Senators have been voting for hours, as late Thursday night turned into early Friday, on one amendment after another, largely from Democrats trying to halt the package. The result will be a final push by the Republicans to use their majority power to pass it on a party-line vote, likely by morning.

“What we're doing today is jumpstarting a process that will allow the Republican Party to meet President Trump's immigration agenda,” Senate Budget Committee chair Lindsey Graham, R-S.C., said while opening the debate.

Graham said Trump's top immigration czar, Tom Homan, told senators that the administration's deportation operations are “out of money” and need more funding from Congress to detain and deport immigrants.

With little power in the minority to stop the onslaught, Democrats instead are using the all-night debate to force GOP senators into potentially embarrassing votes — including the first one, on blocking tax breaks to billionaires. It was turned back, on procedural grounds. So were many others.

“This is going to be a long, drawn-out fight,” warned Senate Democratic Leader Chuck Schumer of New York.

The package that senators are pushing forward is what Republicans view as a down payment on Trump's agenda, part of a broader effort that will eventually include legislation to extend some USD 4.5 trillion in tax breaks and other priorities. That's being assembled by House Speaker Mike Johnson in a separate budget package that also seeks up to USD 2 trillion in reductions to health care and other programs.

Trump has preferred what he calls one “big, beautiful bill,” but the White House is open to the Senate's strategy of working on the border package first, then turning to tax cuts later this year.

As voting began, the president signaled his go-ahead, posting a thank you to Senate Majority Leader John Thune “and the Republican Senate, for working so hard on funding the Trump Border Agenda.” What's in the Senate GOP package The Republican Senate package would allow up to USD 175 billion to be spent on border security, including money for mass deportation operations and building the US-Mexico border wall, in addition to a USD 150 billion boost to the Pentagon and about USD 20 billion for the Coast Guard.

But even if the Senate pushes the package to approval in the all-night session, there won't be any money flowing just yet.

The budget resolution is simply a framework that sends instructions to the various Senate committees — Homeland Security, Armed Services, Judiciary — to hammer out the details. Everything will eventually be assembled in another package, with another vote-a-rama down the road.

Sen. John Barrasso, R-Wyo., the No. 2-ranking Senate Republican, said GOP lawmakers are acting quickly to get the administration the resources they have requested and need to curb illegal border crossings.

“The budget will allow us to finish the wall. It also takes the steps we need toward more border agents,” Barrasso said. “It means more detention beds. ... It means more deportation flights.” Republicans insist the whole thing will be paid for, rather than piled onto debt, with potential spending cuts and new revenues.

The committees are expected to consider rolling back the Biden administration's methane emissions fee, which was approved by Democrats as part of climate change strategies in the Inflation Reduction Act, and hoping to draw new revenue from energy leases as they aim to spur domestic energy production.

In fact, the only amendment accepted after several hours of debate was a Republican effort to fend off criticism the package would be paid for by cutting safety net programs. The amendment from Sen. Dan Sullivan, R-Alaska, said Medicaid and Medicare would be strengthened during the budget process.

Democrats are ready for battle First up from Democrats was a vote to prevent tax breaks for billionaires — an amendment that was repeated in various forms throughout the night.

Democrats argue that the GOP tax cuts approved in 2017 flowed to the wealthiest Americans, and extending them as Trump wants Congress to do later this year would prolong the giveaway. Even though the billionaire amendments failed, they picked up some Republican support. Sen. Susan Collins of Maine voted for several of them, and Sen. Josh Hawley of Missouri voted for another.

Schumer launched a strategy earlier this week to use the budget debate to focus on both the implications of the tax policy and the Trump administration's Department of Government Efficiency, which is slashing across the federal government.

It's a better approach for Democrats than arguing against tougher border security and deportations, which divides the party.

By midnight, senators had processed at least a dozen amendments.

Sen. Patty Murray of Washington, the top Democrat on the Senate Appropriations Committee, said the single biggest driver of the national debt since 2001 has been a series of Republican-led tax cuts.

“And you'll never guess what our Republican colleagues on the other side of the aisle are focused on right now, nothing to lower the cost of eggs, it's actually more Republican tax cuts,” Murray said.

She called the budget plan a “roadmap for painful cuts to programs families count on each and every day, all so they can give billionaires more tax cuts.” Congress is racing itself The budget resolution is setting up what's called the reconciliation process, which used to be rare, but is now the tool often used to pass big bills on party-line votes when one party has control of the White House and Congress, as Republicans do now.

But Republicans are arguing with themselves over how to proceed. The House is marching ahead on its “big, beautiful bill,” believing they have one chance to get it right. The Senate views its two-bill strategy as more practical, delivering on border security first, then turning to taxes later.

Budget rules allow for passage by a simple majority vote, which is key in the Senate, where it typically takes 60 votes to break a filibuster on big items. During Trump's first term, Republicans used the reconciliation process to pass GOP tax cuts in 2017. Democrats used reconciliation during Joe Biden's presidency to approve COVID-19 relief and the Inflation Reduction Act.

Trump appears to be stirring the fight, pitting Republicans in the House and Senate against each other to see which one delivers fastest. (AP) NSA NSA

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