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    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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    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
    Kerala to stop welfare pension delivery through cooperative banks, shifts to DBT
    China's exports slow slightly in July despite robust demand for high-tech products
    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    APEDA Organises BIOFACH INDIA 2026 to Promote India's Certified Organic Products and Expand Global Market Access
    RBI bars banks from disabling mobile devices of defaulting borrowers
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    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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    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
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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.

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      After years of firm support, 10 days upended US approach to Ukraine

      February 22, 2025

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      Kyiv, Feb 22 (AP) As Ukraine approached the three-year mark of Russia's full-scale invasion, the country's hoped-for path to a favourable and lasting peace was upended in a matter of days by the administration of US President Donald Trump.

      Kyiv had benefited from years of staunch support by its allies in the United States and Europe which had provided crucial military and financial support to help defend against Moscow's grinding incursions.

      But when Trump held a lengthy phone call with Russian President Vladimir Putin last week — undoing years of US policy to isolate the Russian leader over his aggression — it was taken as a signal in Kyiv and other European capitals that their alliance to contain Moscow was fraying.

      Here's a timeline of events: Wednesday, Feb 12 On their 90-minute call, Trump and Putin agreed to begin negotiations to end the war, a move that was met with jubilation in Russia but which Ukrainian President Volodymyr Zelenskyy had warned would be “ very dangerous " if Ukraine were excluded from talks.

      Although Trump spoke to Zelenskyy immediately after the Putin call, US Defence Secretary Pete Hegseth said that day that NATO membership for Ukraine, something Kyiv believes would protect the country and Europe from future Russian attacks, was unrealistic. He suggested Ukraine should abandon hopes of winning all its territory back, a perspective that is remarkably close to Moscow's.

      The breakneck speed of Trump's transformation of US policy toward Ukraine and Russia left many war-weary Ukrainians feeling that they were being left out of the conversation on their future, and fearing that a deal forced by Washington and Moscow would result in lost territory and vulnerability to future Russian aggression.

      Friday, Feb 14 European leaders had their first chance to meet with members of the new Trump administration at the Munich Security Conference in Germany, where they hoped to gain clarity on Trump's approach to the war.

      But leaders were stunned as senior US officials including Vice President JD Vance lambasted European nations, gave mixed signals on support for Kyiv and suggested Europe would not be at the table for negotiations on Ukraine.

      During highly anticipated talks between Vance and Zelenskyy in Munich, the Ukrainian leader told Vance that his country needed security guarantees as a precondition for engaging in any talks with Moscow to end the war.

      Zelenskyy also said he'd ordered his ministers not to sign off on a proposed agreement to give the United States access to Ukraine's rare earth minerals, a key part of his talks with Vance. Ukrainian officials said the U.S. proposal did not offer any specific security guarantees in return for access to Ukraine's vast reserves of critical minerals that are used in the aerospace, defense and nuclear industries.

      A senior White House official described Zelenskyy's refusal as “short-sighted.” Sunday, Feb 16 On the final day of the conference, French President Emmanuel Macron began rallying European leaders to fortify their support for Ukraine, with his foreign minister announcing an emergency “working meeting” in Paris to assess the continent's next steps.

      Meanwhile, amid concerns that U.S. support for Kyiv was faltering, a group of European countries was quietly working on a plan to send troops into Ukraine to help enforce any future peace settlement with Russia.

      Tuesday, Feb 18 US and Russian officials met for talks in Saudi Arabia's capital, sidestepping Kyiv and its European backers. The two countries agreed to work together to end the war in Ukraine and to improve diplomatic and economic ties, an extraordinary about-face in US foreign policy.

      Yet the three US principals at the meeting in Riyadh — Secretary of State Marco Rubio, national security adviser Mike Waltz and Trump's special Mideast envoy Steve Witkoff — maintained that the four-hour discussion was aimed mainly at assessing Russia's seriousness about wanting a peace deal.

      All three said publicly that no specific proposals had been put on the table, and that it remained to be seen if the Russians were willing to negotiate in good faith.

      They also rejected assertions that either Ukraine or the Europeans were being excluded, noting that although they weren't present in Riyadh, Trump, Vance and Rubio had all spoken with both Zelenskyy and European officials who would be involved if and when peace talks actually start.

      Zelenskyy dismissed the talks, saying they would “yield no results” in the absence of Ukrainian participation. He postponed a plan to visit Riyadh the next day to avoid any linkage of his trip with the U.S.-Russia meeting.

      Trump showed little patience for Kyiv's objections to being sidelined in Riyadh, and ramped up inflammatory rhetoric that caused anger and alarm in Ukraine and seemed to contradict the assurances that Rubio, Waltz and Witkoff had endeavored to provide.

      Speaking from his Mar-a-Lago resort, Trump made the jarring suggestion that Ukraine itself was responsible for starting the war that has cost tens of thousands of Ukrainian lives, and criticized Zelenksyy for Ukraine delaying elections because of the invasion, in accordance with the Ukrainian Constitution.

      Wednesday, Feb 19 Trump's comments, and a Wednesday post on social media that called Zelenskyy a “dictator,” led to Zelenskyy saying that some of the president's claims were “disinformation” that originated in Russia, and that he would like Trump's team “to be more truthful.” Trump, Zelenskyy said, is living in a Russian-made “disinformation space.” As relations between the two leaders eroded, one thing remained on the horizon that some observers thought could serve to lower the temperature on the disagreements between Washington and Kyiv: Trump's special envoy for Ukraine and Russia, Ret. Lt. Gen. Keith Kellogg, arrived in Ukraine's capital by train Wednesday morning for discussions with Zelenskyy and other officials.

      Kellogg has long been Trump's top adviser on defense issues. He was due to speak with Zelenskyy about Trump's efforts to end the war, and the Ukrainian leader had previously said he looked forward to explaining what was happening in Ukraine to Kellogg and accompanying him to see the front line.

      Thursday, Feb 20 A news conference that was set to follow a meeting between Zelenskyy and Kellogg was abruptly cancelled at the request of the U.S. delegation.

      Friday, Feb 21 In a complimentary gesture that stood in stark contrast with the tone of the preceding days, Kellogg wrote on X that he'd had a “long and intense day with the senior leadership of Ukraine.” He said he'd had positive discussions with "the embattled and courageous leader of a nation at war and his talented national security team.” Still, Trump continued to lay into Zelenskyy, grumbling that a visit to Kyiv last week by U.S. Treasury Secretary Scott Bessent was “a wasted trip” after the Ukrainian side declined to agree to a U.S. proposal to procure profits on rare earth minerals.

      At the same time, Waltz, Trump's national security adviser, expressed confidence that Zelenskyy would seal a rare earths deal. "Here's the bottom line. President Zelenskyy is going to sign that deal,” Waltz said.

      Trump, speaking to “The Brian Kilmeade Show” on Fox News radio, also dismissed Zelenskyy's complaints about not being included in the Saudi talks. He voiced certainty that Putin wanted to strike a deal.

      “He doesn't have to make a deal," Trump said of Putin. “Because if he wanted, he would get the whole country.” (AP) NSA NSA

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