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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
    Par panel for early conclusion of India-US trade pact, tariff exemptions on key goods
    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
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    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
    Show AI Summary
    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.
    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.

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      UK's Starmer says Europe is at 'crossroads in history' as leaders agree to steps to Ukraine peace

      March 3, 2025

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      London, Mar 3 (AP) British Prime Minister Keir Starmer rallied his European counterparts Sunday to shore up their borders and throw their full weight behind Ukraine as he announced outlines of a plan to end Russia's war.

      “Every nation must contribute to that in the best way that it can, bringing different capabilities and support to the table, but all taking responsibility to act, all stepping up their own share of the burden," he said.

      Starmer's exhortation to 18 fellow leaders that they need to do the heavy lifting for their own security comes two days after US backing of Ukraine appeared in jeopardy when President Donald Trump lashed out at Ukrainian President Volodymyr Zelenskyy and said he wasn't grateful enough for America's support.

      The meeting had been overshadowed by the extraordinary scolding that took place on live television at the White House. Starmer used the opportunity as part of his broader effort to bridge the gap between Europe and the US and also salvage what had seemed like the start of a peace process before Friday's spat.

      Starmer said he had worked with France and Ukraine on a plan to end the war and that the group of leaders — mostly from Europe — had agreed on four things.

      The steps toward peace would: keep aid flowing to Kyiv and maintain economic pressure on Russia to strengthen Ukraine's hand; make sure Ukraine is at the bargaining table and any peace deal must ensure its sovereignty and security; and continue to arm Ukraine to deter future invasion.

      A coalition of the willing Finally, Starmer said they would develop a “coalition of the willing” to defend Ukraine and guarantee the peace.

      “Not every nation will feel able to contribute but that can't mean that we sit back," he said. “Instead, those willing will intensify planning now with real urgency. The UK is prepared to back this with boots on the ground and planes in the air, together with others.” It is far from certain whether Russian President Vladimir Putin will accept any such plan, which Starmer said would require strong US backing. He did not specify what that meant, though he told the BBC before the summit that there were “intense discussions” to get a security guarantee from the US.

      “If there is to be a deal, if there is to be a stopping of the fighting, then that agreement has to be defended, because the worst of all outcomes is that there is a temporary pause and then Putin comes again,” Starmer said.

      Starmer said he will later bring a more formal plan to the US and work with Trump.

      Before arriving in London, French president Emmanuel Macron suggested in an interview with a French newspaper that he and Starmer are proposing a “truce in the air, on the seas and energy infrastructures” that would last a month.

      There would be no European troops in the coming weeks and troops would only be deployed on the ground at a later stage, he said.

      The question, Macron said, is “how we use this time to try and get an accessible truce, with negotiations that will take several weeks and then, once peace is signed, a deployment.” Two diplomatic steps forward, one back Europe has been anxious since Trump initiated direct peace talks with Putin, who had been isolated by most Western leaders since invading Ukraine three years ago. The scramble to remain relevant and protect European interests as their once stalwart ally appeared to be cozying up to Putin was even more troubling when Trump called Zelenskyy a dictator and falsely said Ukraine started the war.

      Meetings last week had provided some hope — until Zelenskyy's trip to the White House on Friday.

      Visits to the Oval Office by Starmer and French President Emmanuel Macron, who had declared his visit a “turning point," were seen as steps in the right direction. The meetings were cordial and Trump even took a gentler tone toward Ukraine, though he would not commit to providing US security guarantees and maintained that Europe would need to provide peacekeeping troops.

      Within 12 hours of Starmer's return from Washington, the talk of peace seemed to collapse as Trump and Vice President JD Vance berated Zelenskyy for challenging Trump's assertions that Putin could be trusted.

      During his Sunday press conference, Starmer rejected the suggestion that the US was no longer a reliable ally.

      “There are no two countries as closely aligned as our two countries and our defence, our security and intelligence is intertwined in a way no two other countries are, so it's an important and reliable ally for us,” he said.

      Starmer does not trust Putin Starmer told the BBC before the summit that he does not trust Russian President Vladimir Putin but does trust Trump.

      Italian Premier Giorgia Meloni said she was sorry for what happened with Zelenskyy in Washington. Meloni is both a strong Ukraine supporter and — as head of a far-right party — she is a natural ally of Trump. She was the only European leader to attend his inauguration.

      She said told reporters following the meeting that Europe must remain focused on its common goals and that “dividing the West would be disastrous for everyone.” “We need to work to reinforce our unity, and I think that Italy can play a role, not just in its own interest, but in everyone's," she said. “I don't want to take any other scenario into consideration.” Starmer hosted the meeting at Lancaster House, a 200-year-old mansion near Buckingham Palace, following his charm offensive with Macron to persuade Trump to put Ukraine at the centre of negotiations and tilt his allegiances toward Europe.

      Leaders from Germany, Denmark, Italy, Netherlands, Norway, Poland, Spain, Canada, Finland, Sweden, the Czech Republic and Romania were at the summit. The Turkish foreign minister, the NATO secretary-general and the presidents of the European Commission and European Council were also in attendance.

      Turning Ukraine into a 'steel porcupine' Starmer used sweeping terms to describe the challenge ahead, saying Europe was at a crossroads in its history and needed to step up to meet “once in a generation moment.” European Commission president Ursula von der Leyen emerged from the meeting and said she would present a plan to “rearm Europe” to bolster the bloc's security after a long period of underinvestment.

      As for the future of war-torn Ukraine, von der Leyen said it needs security guarantees.

      “We have to put Ukraine in a position of strength so that it has the means to fortify itself and to protect itself,” von der Leyen said. “It's basically turning Ukraine into a steel porcupine that is indigestible for potential invaders.” Last week, Starmer pledged to boost military spending to 2.5% of gross domestic product by 2027. Other European nations may follow suit.

      Czech Prime Minister Petr Fiala said Saturday that Europe faces a historic test and has to look after itself. He said European countries have to increase their arms spending to reach at least 3% of GDP.

      “If we don't increase our effort fast enough and let the aggressor dictate its conditions, we won't end up well,” he said.

      Starmer pledged to supply more arms to defend Ukraine, announcing that the UK will use 1.6 billion pounds ($2 billion) in export financing to supply 5,000 air defence missiles. (AP) SCY SCY

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