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    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
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    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
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August 7, 2026
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Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
August 7, 2026
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BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
August 7, 2026
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Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
August 7, 2026
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Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
August 7, 2026
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Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
August 7, 2026
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Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
August 7, 2026
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Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
August 7, 2026
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Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
August 7, 2026
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Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
August 7, 2026
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Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
August 7, 2026
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Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
August 7, 2026
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Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
August 7, 2026
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BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
August 7, 2026
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Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
August 6, 2026
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Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
August 6, 2026
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Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
August 6, 2026
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Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
August 6, 2026
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Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
August 6, 2026
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Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
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.

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Senate approves funding bill hours before shutdown deadline, sending to Trump for signature

March 15, 2025

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Washington, Mar 15 (AP) The Senate passed a six-month spending bill on Friday hours before a government shutdown, overcoming sharp Democratic opposition to the measure and sending it to President Donald Trump to be signed into law.

The essentially party-line vote, 54-46, reflected gnawing Democratic angst over how to confront the Trump administration as its Department of Government Efficiency fires federal workers and dismantles operations. Democrats argued over whether to fight even risking a shutdown and fumed that Republicans drafted a measure that included little of their input, shortchanging health care, housing and other priorities.

But in the end, enough of the Democratic senators decided a government shutdown would be even worse, and backed Senate Democratic leader Chuck Schumer's strategy to allow the bill to come forward.

"A shutdown will allow DOGE to shift into overdrive," Schumer said. "Donald Trump and Elon Musk would be free to destroy vital government services at a much faster rate." Democrats were confronted with two painful options: allowing passage of a bill they believe gives President Trump vast discretion on spending decisions or voting no and letting a funding lapse ensue. All told, 10 Democrats voted to break the party's filibuster. On final passage, two Democrats supported the bill, and one Republican, Sen. Rand Paul of Kentucky, opposed it.

Schumer gave members of his caucus days to vent their frustration about the options before them, but abruptly switched course and made clear on the eve of voting that he would not allow a government shutdown. His move outraged many in the party who want to fight the Trump agenda, but gave senators room to side with Republicans and allow the continuing resolution, often described as a CR, to advance.

Democrats from all corners looked to pressure senators to kill the bill. House members wrote letters, posted on social media and held press conferences in the hours before the vote.

"The American people sent Democrats to Congress to fight against Republican dysfunction and chaos," said a letter from 66 House Democrats to Schumer.

House Democratic leader Hakeem Jeffries and his team dashed back to the Capitol urging senators to block the bill and negotiate a true compromise with Republicans. Speaker Emerita Nancy Pelosi called the bill "unacceptable".

Some Democrats also argued that Republicans would take the blame for a shutdown, given they controlled all the levers of power in Congress and the White House.

"If you refuse to put forward an offer that includes any Democratic input and you do not get Democratic votes, that is on Republicans," said Sen. Patty Murray, the top Democrat on the Senate Appropriations Committee.

In contrast, Schumer picked up one unexpected nod of support -- from Trump himself, who just a day earlier was gearing up to blame Democrats for any shutdown.

"Congratulations to Chuck Schumer for doing the right thing -- Took guts' and courage!" the president posted on his social media account.

Congress has been unable to pass the annual appropriations bills designed to fund the government, so they have resorted to passing short-term extensions instead. The legislation before the Senate is the third such continuing resolution for the current fiscal year, now nearly half over.

The legislation would fund the federal government through the end of September. It would trim non-defence spending by about USD 13 billion from the previous year and increase defence spending by about USD 6 billion, which are marginal changes when talking about a topline spending level of nearly USD 1.7 trillion.

The Republican-led House passed the spending bill on Tuesday and then adjourned. The move left senators with a decision to either take it or leave it. And while Democrats pushed for a vote on a fourth short-term extension, GOP leadership made clear that option was a non-starter.

Senate Majority Leader John Thune, R-SD, and others made the case that any blame for a shutdown would fall squarely on Democrats. And House Speaker Mike Johnson, R-La., said Republicans stood together to get the job done.

"Shamefully, 99 per cent of Democrats in Congress voted to shut down the government -- simply because they seem to hate President Trump more than they love America," Johnson said.

Meanwhile, some House Democrats lashed out at their colleagues across the Capitol after the vote.

"The constituents I represent need Democrats to stand up to this rogue administration," said Rep. Steven Horsford, D-Nev. "What they got from Senate Democrats today was capitulation instead." But Schumer said Trump would seize more power during a shutdown, because it would give the administration the ability to deem whole agencies, programmes and personnel non-essential, furloughing staff with no promise they would ever be rehired.

Democrats were critical of the funding levels in the bill. But they are more worried about the discretion the bill gives the Trump administration on spending decisions. Many Democrats are referring to the measure as a "blank cheque" for Trump.

Spending bills typically come with specific funding directives for key programmes, but hundreds of those directives fall away under the continuing resolution passed by the House. So the administration will have more leeway to decide where the money goes.

For example, a Democratic memo said the bill would allow the administration to steer money away from combating fentanyl and instead use it on mass deportation initiatives.

Several amendments to the bill failed, but one to eliminate funding for DOGE drew support from a Republican, Sen. Lisa Murkowski of Alaska.

The spending bill before the Senate is separate from the GOP effort to extend tax cuts for individuals passed in Trump's first term and to partially pay for them with spending cuts elsewhere in government.

That second package will be developed in the months ahead, but it was clearly part of the political calculus.

"You are looking at a one-two punch, a very bad CR, then a reconciliation bill coming down, which will be the final kick in the teeth for the American people," said Sen. Bernie Sanders, I-Vt.

Sen. Tom Cotton, R-Ark., said the Democratic arguments for voting against the bill were hypocritical because they were essentially calling for shutting down the government to protect the government.

"Democrats are fighting to withhold the paycheques of air traffic controllers, our troops, federal custodial staff," Cotton said. "They cannot be serious." Senators also unanimously approved a separate bill to fix an unexpected provision in the package that would require the District of Columbia to revert to 2024 budget levels, a cut of some USD 1.1 billion, even though the district raises most of its own money. That bill, which now goes to House, would allow spending at 2025 levels. (AP) RC

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