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    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
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    RBI bars banks from disabling mobile devices of defaulting borrowers
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    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
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    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
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    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
    Show AI Summary
    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.
    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.
    August 6, 2026
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    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.

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      Opposition members accuse govt of trying to control Railway Board via new legislation

      March 10, 2025

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      New Delhi, Mar 10 (PTI) Opposition members in the Rajya Sabha on Monday accused the government of trying to take control of the Railway Board through the Railways (Amendment) Bill, 2024, and alleged that it was avoiding scrutiny by a parliamentary panel.

      Railways Minister Ashwini Vaishnaw moved the Railways (Amendment) Bill, 2024, for consideration in the Upper House. The bill, which was passed by the Lok Sabha in December last year, seeks to enhance the functioning and independence of the Railway Board.

      With the inclusion of the Railway Board under the 1989 Railway Act, the appointment, qualifications, tenure and criteria for the Chairman and members of the Board will be the responsibility of the central government.

      The Bill also includes provisions to appoint an independent regulator that will oversee matters like fare determination and ensure the competitiveness of the Railways.

      "You have just gone for 'governmentalisation' of the Railway Board," Congress member Vivek K Tankha said while initiating discussion on the bill.

      Alleging that under the proposed legislation there is no liberty and sovereignty of the Railway Board, he said, "The very freedom of the Railway Board is lost and the functional autonomy of the Railway Board is lost. It is nowhere to be seen".

      Demanding that the Railway Board must be given autonomy, Tankha said, "If you are thinking about the modernisation of the Railways, then India cannot have a modern railway system if the Railway Board is not autonomous. If you are not empowering your institutions, if you are not allowing freedom of decision making to your institutions, India is not going to become a developed country".

      He also demanded accountability from the minister for accidents and stampedes at railway stations, including the recent one in the national capital.

      Expressing similar sentiments, Sushmita Dev (TMC) said the proposed legislation is repealing the 1890 and 1905 Acts and "the provisions of 1905 Act have been inserted into the 1989 Railway Act", which is a "200 section Act and covers almost every subject and every issue in the Railways Ministry".

      "Was it not the apt time for the Railway Minister to review that entire Act of (19)89, make amendments to it and then send that bill to an appropriate committee for scrutiny? Why is it that the government shy away from a standing committee, from a select committee?" Dev asked.

      She further said, "There could only be one reason that these committees will actually compel the minister for a reality check, a reality that he is not comfortable with".

      The TMC member said that in newspapers and TV channels, the word 'railway' is next to words like death, delay, congestion, stampede, extortion and accidents.

      "...when the word railway becomes synonymous with these disastrous words I think this was the moment to scrutinise the Railway Minister," she said.

      Taking part in the discussion, Manoj Jha, RJD, said overall members are expressing their concerns over the situation of the Railways more than speaking on the Bill.

      "Where I come from, the names of the trains like Shramshakti, Shramjeevi, Jansadhaaran - reflect the situation there. We still don't have any Vande Bharat train," he said, asking if 100 per cent electrification was required for railways.

      He also alleged that during the Mahakumbh, the regular coolies at the Prayagraj railway station were replaced by outsourced coolies.

      Haris Beeran of IUML asked if there was any consultation with stakeholders and "if not, the Bill should be referred to a committee".

      Similarly, Prakash Chik Baraik (TMC) also said the Bill should be sent to a select committee of Parliament while raising concerns over the increase in railway fares, highlighting 'premium tatkal' which "sometimes costs more than flight tickets, making it almost impossible for poor people to plan a sudden trip".

      P Sandosh Kumar of CPI asked the minister to "focus more on Rail than Reels", and alleged that during the 10 years of the NDA regime, there were 678 railway accidents - which is 68 accidents per year and is increasing day by day.

      At least 15 per cent of security-related posts are vacant, he said, adding steps should be taken to fill these posts while asking the minister to restore the discount for senior citizens in Railways.

      Refuting the charges by the opposition members, BJP member Subhash Barala said the bill aims to make the functioning of railways more smooth and transparent, more accountable and all the railway zones and the divisional managers would be given more autonomy and financial powers.

      Similarly, BJP's Geeta alias Chandraprabha and Sikandar Kumar said the Bill will strengthen the Railway board by giving it more power. It gives a legal sanction to the railway board by amending the Act. So far, the board has been functioning without constitutional sanction.

      Subhashish Khuntia of the BJP said his state Odisha is being ignored by the Railways, and JMM's Sarfraz Ahmad expressed similar sentiments that Jharkhand hasn't been given its due despite the state contributing a lot of revenue to the country.

      Former prime minister HD Devegowda JD (S) welcomed the Bill while lauding Vaishnaw's performance as the Railways Minister.

      Taking part in the discussion, NCP's Prafful Patel highlighted the importance of Railways in the country's transportation system, saying it has the "same importance today as they did years ago".

      Dharmshila Gupta (BJP) said the Bill would give the Railway Board more rights and strengthen the required legal framework to provide stability to railway employees.

      Fauzia Khan (NCP-SCP) said if the aim of the Bill was to unify and streamline railway governance, a much more comprehensive legal framework and a much more reform-oriented approach were needed in an important Bill like this.

      "A key constant demand has been ignored. The need for greater decentralisation in the railway administration," she observed, adding that the Sreedharan and Bibek Debroy committees formed in 2014 had both recommended this.

      Ghanshyam Tiwari (BJP) said the Railways has done commendable work during the recently concluded Mahakumbh.

      He said the electrification of China's railway network was lesser than India's and by 2030, electrification shall be completed on the entire network of Indian Railways.

      Brij Lal (BJP) said the Narendra Modi-led government has taken various measures to improve the Railways, including boosting its network connectivity, safety, security and cleanliness, among others.

      He said there was a notable decrease in terrorist incidents, particularly involving Railways after the current dispensation first came to power in 2014.

      Pradeep Kumar Verma (BJP) termed the proposed legislation a "revolutionary step" towards the 'Modi Ki Guarantee' and a crucial step towards reforming the Indian Railways, which will help realise the vision of better rail connectivity for the middle class.

      He said the Bill provides higher autonomy to the Railway Board and will enable the railways to undertake various reforms.

      Verma informed that between 2014-24, on average, 24 rail accidents per year have taken place as compared to an average of 171 per year between 2004 and 2014. PTI KKS RKL AO PRS RSN RKL BAL BAL

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