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    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
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    Raymond Limited reports a healthy Q1 FY27 performance
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    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
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    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
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    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Zelenskyy meets Trump at White House, seeks security assurances against future Russian aggression

      February 28, 2025

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      Washington, Feb 28 (AP) Ukrainian President Volodymyr Zelenskyy met Friday with President Donald Trump at a pivotal moment for his country, as he tries to persuade the White House to provide some form of US backing for Ukraine's security against any future Russian aggression.

      Zelenskyy flashed a thumb's up but didn't speak to reporters as he arrived at the White House. He wore a more formal black top rather than his usual military green T-shirt, prompting Trump to quip, “He's all dressed up.” Zelenskyy's delegation is expected to sign a landmark economic agreement with the US aimed at financing the reconstruction of war-damaged Ukraine, a deal that would closely tie the two countries together for years to come.

      The deal, which is seen as a step toward ending the three-year war, references the importance of Ukraine's security. But it leaves that to a separate agreement still being hammered out by the two leaders.

      Meeting together in the Oval Office, Trump said the agreement would be signed soon in the East Room of the White House.

      “We have something that is a very fair deal,” Trump said, adding, “It is a big commitment from the United States.” He said the US wants to see the killing in the war stopped, adding that US money for Ukraine should be "put to different kinds of use like rebuilding.” Zelenskyy called Russian President Vladimir Putin a terrorist and told Trump that Ukraine and the world need “no compromises with a killer.” “Even during the war there are rules,” he said.

      As Ukrainian forces hold out against slow but steady advances by Russia's larger and better-equipped army, leaders in Kyiv have pushed to ensure a potential US-brokered peace plan would include guarantees for the country's future security.

      Many Ukrainians fear that a hastily negotiated peace — especially one that makes too many concessions to Russian demands — would allow Moscow to rearm and consolidate its forces for a future invasion after current hostilities cease.

      According to the preliminary economic agreement, seen by The Associated Press, the US and Ukraine will establish a co-owned, jointly managed investment fund to which Ukraine will contribute 50 per cent of future revenues from natural resources, including minerals, hydrocarbons and other extractable materials.

      Speaking about the rare earths agreement, Trump said the US is lacking in many such minerals while Ukraine has among the best on the planet. He said US interests plan to take those reserves and use them on everything from artificial intelligence operations to military weapons.

      Asked about long-term security guarantee to guard against future Russian aggression, Trump says once the agreement is signed that a return to fighting was unlikely.

      Trump, a Republican, has framed the emerging agreement as a chance for Kyiv to compensate the US for wartime aid sent under his predecessor, Democratic President Joe Biden.

      But Zelenskyy has remained firm that specific assurances for Ukraine's security must accompany any agreement giving US access to Ukraine's resources. On Wednesday, he said any such agreement “may be part of future security guarantees, but I want to understand the broader vision. What awaits Ukraine?” Trump, though, has remained noncommittal about any American security guarantees.

      “I'm not going to make security guarantees ... very much,” Trump told reporters this week. “We're going to have Europe do that.” This is Zelenskyy's fifth White House visit, but his previous four came during the Biden administration. The Ukrainian president also was meeting with US senators during his time in Washington.

      If a truce can be reached, British Prime Minister Keir Starmer and French President Emmanuel Macron have agreed to send troops for a potential peacekeeping mission to Ukraine to ensure that fighting between Ukraine and Russia doesn't flare up again.

      Both leaders travelled to Washington this week before the Zelenskyy visit to discuss with Trump the potential peacekeeping mission and other concerns about the war.

      White House officials are sceptical that Britain and France can assemble enough troops from across Europe, at least at this moment, to deploy a credible peacekeeping mission to Kyiv.

      It will likely take a “consensual peace settlement” between Russia and Ukraine before many nations would be willing to provide such forces, according to a senior Trump administration official who briefed reporters on the condition of anonymity under ground rules set by the White House.

      Zelenskyy and European officials have no illusions about US troops taking part in such a mission. But Starmer and others are trying to make the case that the plan can only work with a US backstop for European forces on the ground — through US aerial intelligence, surveillance and support, as well as rapid-response cover in case the truce is breached.

      “You've created a moment of tremendous opportunity to reach a historic peace deal — a deal that I think would be celebrated in Ukraine and around the world,” Starmer told Trump.

      Zelenskyy has been vague on exactly what kinds of security guarantees would be suitable for his country, and while he continues to advocate for Ukraine's eventual membership in NATO, he has also suggested a similar security arrangement would suffice.

      But Trump said this week that Ukraine “could forget about” joining the Western military alliance.

      Still, Zelenskyy's meeting with Trump is seen in Kyiv as a diplomatic win for Ukraine. On Wednesday, Zelenskyy said being able to meet personally with Trump before Putin does “is a good signal.” A reporter from the Russian news agency Tass was to join other reporters in the Oval office as Trump and Zelenskyy met.

      Fears that Trump could broker a peace deal with Russia that is unfavourable to Ukraine have been amplified by recent precedent-busting actions by his administration.

      Trump held a lengthy phone call with Putin, and US officials met with their Russian counterparts in Saudi Arabia without inviting European or Ukrainian leaders — both dramatic breaks with previous US policy to isolate Putin over his invasion.

      Trump later seemed to falsely blame Ukraine for starting the war, and called Zelenskyy a “dictator” for not holding elections after the end of his regular term last year, though Ukrainian law prohibits elections while martial law is in place.

      As Zelenskyy seeks to lower the temperature with the US while in Washington, American officials are saying an economic deal would itself provide a measure of security to Ukraine through the presence of US investments on its territory.

      Trump has called the US accessing Ukraine's rare earths “automatic security because nobody's going to be messing around with our people when we're there.” That perspective is echoed by the text of the economic agreement, which says the US “supports Ukraine's efforts to obtain security guarantees needed to establish lasting peace.” Washington, it continues, has “a long-term financial commitment to the development of a stable and economically prosperous Ukraine.” (AP) GRS GRS

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