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    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
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    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
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    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
    Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India'
    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
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    India weathered Hormuz disruption without fuel shortages: Puri
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    August 10, 2026
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    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
    Show AI Summary
    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
    Show AI Summary
    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
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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
    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.

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      Corp. Laws / SEBI / IBC

      Top 10 Pioneering Minds of 2025 Unveiled by Kiteskraft Productions LLP

      March 18, 2025

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      CHANDIGARH, India, March 17, 2025 /PRNewswire/ -- India's evolution is driven by bold visionaries who embrace innovation and leadership. Top 10 Pioneering Minds of 2025 by Kiteskraft Productions LLP celebrates outstanding leaders, changemakers, and trailblazers redefining industries and driving progress. Their relentless commitment and groundbreaking contributions are shaping a brighter, more dynamic future for India.

      Bhupendra Kumar Patel: Bhupendra Kumar Patel is a distinguished academician and leader in the field of education, currently serving as the Head of the Department of English and Principal of Naveen Government College, Nawagarh, Janjgir-Champa. With decades of experience, he has played a pivotal role in shaping higher education in Chhattisgarh. Affiliated with Shaheed Nandkumar Patel Vishwavidyalaya, Raigarh, his contributions to academia and administration have been widely recognized.

      Previously, he held key positions at prestigious institutions, including Government M.G. Arts and Science P.G. College, Kharsia, and Government MMR P.G. College, Champa. He has also served as the Coordinator of the IGNOU Study Centre and District Organizer for the National Service Scheme (NSS). A prolific researcher, Patel has published over 60 research papers and authored influential books on English literature and education. He has actively participated in national and international seminars, delivering lectures as a resource person. Through his dedication to teaching, research, and policy implementation, Patel continues to inspire students and educators, leaving a lasting impact on the educational landscape.

      Dr. Shivam Arun Kumar Patnaik: Dr. Shivam Arun Kumar Patnaik, Director of Public Relations at Amity University, is emerging as a global leader in the Intelligent Age, harnessing artificial intelligence (AI), digital infrastructure, and innovation to drive economic and social transformation.

      Dr. Shivam Arun Kumar Patnaik, born in 1974 in Visakhapatnam, Andhra Pradesh, overcame significant hardships to establish himself as a distinguished educator and social reformer. His father, Late Shri S.J. Rao Patnaik, worked for South Eastern Railway in Bilaspur but passed away when Arun was just three months old. Despite limited education, his mother took up a job as a peon in a railway school to support the family. Inspired by her sacrifices, he pursued his education with determination and later returned to the same school as a Chief Guest, honoring her dedication.

      Facing financial struggles, Dr. Patnaik took on various small jobs, including working at STD/PCO booths, to sustain his family. A devotee of Sri Sathya Sai Baba, he spent two years in Puttaparthi, embracing the principles of service and moral values. For the past 26 years, he has been teaching human values through the Balvikas initiative in slums and prisons, earning recognition from multiple state governments. His contributions led to an invitation to the Global Economic Conference at Harvard, where he delivered a talk on societal transformation.

      Dr. Amit Suryavanshi: Dr. Amit Suryavanshi is a visionary leader and entrepreneur in the fire and safety sector, serving as the Director of IFSC India (Industrial Fire Safety College). Committed to enhancing fire safety standards, he has established a premier institute dedicated to training professionals in industrial safety, emergency response, and regulatory compliance. Under his leadership, IFSC India has become a center of excellence, offering industry-aligned, world-class training programs.

      With over a decade of experience, Dr. Suryavanshi has developed innovative safety protocols and curricula aligned with national and international standards. His efforts have led to the training of over 3,000 students, ensuring a strong placement record in fire and safety careers. Recognized for his contributions, he has received prestigious honors such as the Rashtriya Padmabhushan Samman, Institutional Safety Excellence Award by Safe Tech India, and Maharashtra Udyog Bhushan Puraskar.

      His expertise in firefighting, risk assessment, and emergency response has positioned IFSC India as a leader in safety education. Under his leadership, the institute is expanding across India through its franchise network.

      Dr. Md. Sahidul Arefin: Dr. Md. Sahidul Arefin is a distinguished Audiologist and Speech-Language Pathologist, recognized for his expertise in communication and swallowing disorders. He specializes in post-stroke speech rehabilitation, helping patients regain speech, language, and cognitive-linguistic abilities through evidence-based techniques. His work in managing swallowing disorders (dysphagia) ensures safer and more comfortable feeding for patients with neurological conditions. Dr. Arefin also treats autism, speech delays, voice disorders, and hearing impairments, offering expert hearing aid fittings and cochlear implant counseling. His holistic approach and commitment to patient care have made him a trusted name in the field. Dedicated to transforming lives, he continues to provide innovative therapies that enhance communication and quality of life for individuals facing these challenges.

      Dr. Parvathi Satyanarayana: Dr. Parvathi Satyanarayana is a distinguished educator with over 38 years of experience in school education, serving as Headmaster Grade II Gazetted in the School Education Department, Government of Telangana. His visionary leadership has transformed institutions by fostering academic excellence, holistic student development, and innovative teaching methodologies.

      A pioneer in pedagogical advancements, he has introduced modern teaching practices, competency-based assessments, and experiential learning. His commitment to educational reform has led to improved infrastructure, eco-friendly academic spaces, and increased student enrollment and retention rates.

      Beyond academia, Dr. Satyanarayana is a staunch advocate for teachers' rights and policy reforms. As State General Secretary of PRTU Telangana, Secretary General of the Teachers Joint Action Committee, and Vice Chairman of the Telangana Government Employees Joint Action Committee, he has driven significant systemic improvements for educators.

      Holding degrees in Mathematics, Education, Law, and Human Rights, he is a thought leader in education policy. His contributions to school governance continue to shape Telangana's education landscape, leaving a lasting impact on students, teachers, and future reforms.

      Dr. Preeti Padmanabhan: Dr. Preeti Padmanabhan, born in Pune, Maharashtra—renowned as the 'Oxford of the East' and the 'Cultural Capital of Maharashtra'—is a distinguished academician and researcher in the field of Biochemistry. A proud alumna of St. Helena's High School and Junior College, she excelled both academically and socially. She pursued her undergraduate studies at the prestigious Nowrosjee Wadia College, followed by postgraduate studies at the esteemed Byramjee Jeejeebhoy (B.J.) Medical College, Pune, and further specialized at Pravara Institute of Medical Sciences, Ahmednagar.

      Currently serving as a Professor of Biochemistry at SSPM Medical College & Lifetime Hospital, Sindhudurg, Maharashtra, Dr. Padmanabhan is known for her innovative teaching methods, active research contributions, and strong administrative skills. She has received multiple awards at both national and international levels, including an International Postgraduate Diploma in Bioethics and Human Law.

      Beyond academia, she is a passionate writer, singer, actor, artist, and culinary enthusiast. Dedicated to holistic well-being, she is actively working toward her fitness goals, embracing a balanced and creative lifestyle.

      Dr. Rita Mukesh Gandhi: Dr. Rita Mukesh Gandhi's journey is a remarkable blend of lifelong learning, dedication, and holistic healing. Born in Kolkata in 1954, she pursued a degree in Home Science before embracing family life in Mumbai. Inspired by Shri Pandurang Shashtriji's philosophy of selfless service, she developed a deep passion for health and nutrition. At 49, she expanded her knowledge by earning diplomas in Nutrition and Naturopathy, followed by specializations in Acupuncture, Acupressure, Panchkarma, Facial-Marama, and Ayurvedic dietetics. Her professional journey includes 12 years of experience with renowned dietitian Dr. Vijaya Venkat and four years dedicated to rural health education.

      Currently, she serves as a Consultant Naturopath and Ayurvedic Dietician, integrating Astrology, Numerology, and Reiki into her holistic approach. During the pandemic, her voluntary service as a dietitian earned recognition from Maharashtra's Governor, Delhi's Legislative Assembly Speaker, and Rajasthan's MLA. Honored as a Corona Warrior, she also received the Nutritional Consultation Award and an Alumni Award from J.J. Ajmera High School. Committed to accessible holistic healthcare, she continues to empower individuals with knowledge and healing.

      Dr. G. Lakshmipathy . Pondicherry: Dr. G. Lakshmipathy, born on August 15, 1962, in Pondicherry, is a distinguished academician and humanitarian dedicated to social service. Inspired by his grandfather, a freedom fighter, he developed a strong commitment to community welfare from an early age.

      A highly accomplished scholar, he holds two undergraduate degrees, five postgraduate degrees, three Ph.Ds., and 22 postgraduate diplomas. He initially worked as a Senior Branch Manager at United India Insurance Company Ltd. but later transitioned to community service, serving as Chairman of the Indian Red Cross Society, Pondicherry State.

      With over 36 years of service, Dr. Lakshmipathy has made significant contributions to mother and child care, disaster relief, and first aid training. His initiatives include setting up 23 breastfeeding rooms, organizing blood donation camps, and providing essential aid during COVID-19.

      Honored with over 40 awards, including the Gandhi Award for Social Thinking and Bharat Jyoti Award, he continues to champion human rights and social causes, leaving a profound impact on society through his unwavering dedication and service.

      Dr. Surendra Bajaj: Dr. Surendra Bajaj is a distinguished entrepreneur, social activist, writer, singer, and speaker, whose contributions have significantly impacted business and social service. Holding a Ph.D. in Business Administration, he seamlessly blends professional excellence with humanitarian commitment. As Convenor of Netradan Dehdan Prerana Prakalp of Shri Maheshwari Samaj Jaipur, he has led body and eye donation awareness efforts, securing over 800 eye donation pledges and 167 posthumous body donations. He serves as President of Jaipur Jila Maheshwari Sabha Samiti, driving community welfare initiatives, and has been Treasurer of the Rajasthan Transformer Manufacturers Association for over a decade.

      With 45+ years in business, Dr. Bajaj's ventures have earned numerous accolades, including the National Award (1995) from the President of India and Rajasthan Udyog Ratna Awards (2017, 2019). His company, Shree Transformers & Electromech, has received the India SME Top 100 and Vishwakarma Awards. Through his foundation, he actively supports social causes featured in Doordarshan Rajasthan's 'Dharti Dhoran Ri', inspiring future generations through business and philanthropy.

      Dr. D. Renuka Gandhi: Dr. D. Renuka Gandhi, born on August 12, 1969, in Tamil Nadu, is a trailblazer in education and social service. As the first graduate from her village, she overcame numerous challenges to pursue higher education. Inspired by her father, a Village Administrative Officer (VAO), she earned her B.Ed., M.Phil., and Ph.D. after marriage, with unwavering support from her husband, Dr. K. Gandhi.

      She began her teaching career in 2001 and was honored with the Dr. Radhakrishnan Award (2016) by the Government of Tamil Nadu for excellence in teaching. As the Service Coordinator of the Junior Red Cross Society, she was recognized by the Governor of Odisha for her contributions.

      Dr. Gandhi has actively improved school infrastructure, organized awareness programs, and facilitated better drinking water facilities for 2,000 students. Nominated for the National ICT Award in 2012, she has also donated blood 19 times, earning recognition from the Mayor of Bangalore Corporation. She wholeheartedly dedicates her journey to her parents, husband, family, well-wishers, and mentor, R. Rajendren, M.D., P.S.P.

      About Kiteskraft Productions LLP Kiteskraft Productions LLP, established in 2019, is a premier organizer of National and International Conferences and Award ceremonies across sectors like Education, Business, Healthcare, NGOs, and Entertainment. With a mission to recognize excellence, Kiteskraft honors individuals who drive innovation and outcome-based learning. Certified by ISO and MSME, and registered under MCA, it upholds high standards of quality. Recognized by the Scholar's Book of World Records, Kiteskraft fosters industry collaboration through impactful events. With a dedicated team and a vision for excellence, Kiteskraft Productions LLP continues to inspire, empower, and shape a brighter future. Visit www.kiteskraft.com for more.

      Photo: Embedded Media (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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