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    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    Rupee settles with 5 paise gain at 95.17 against US dollar
    India weathered Hormuz disruption without fuel shortages: Puri
    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
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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
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    August 8, 2026
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
    Show AI Summary
    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    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
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    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
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Police arrest Istanbul mayor, key Erdogan rival, over alleged corruption, terror links

      March 19, 2025

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      Istanbul, Mar 19 (AP) Turkish police on Wednesday arrested Istanbul's mayor — a popular opposition leader and key rival of President Recep Tayyip Erdogan — and several other prominent figures as part of investigations into alleged corruption and terror links.

      It was a dramatic escalation in an ongoing crackdown on the opposition and dissenting voices in Turkiye.

      The state-run Anadolu Agency said prosecutors issued detention warrants for the mayor, Ekrem Imamoglu, and some 100 other people. Among those detained was Imamoglu's close aide, Murat Ongun.

      Authorities also closed several roads around Istanbul and banned demonstrations in the city for four days in an apparent effort to prevent protests following the arrest. Private NTV television said two Istanbul district mayors were among those detained.

      Critics say the crackdown follows significant losses by Erdogan's ruling party in local elections last year amid growing calls for early national elections. Government officials insist that the courts operate independently and reject claims that legal actions against opposition figures are politically motivated.

      “We are facing great tyranny, but I want you to know that I will not be discouraged,” Imamoglu said earlier in the day in a video post on social media.

      Germany criticised the arrests, with Foreign Ministry spokesperson Sebastian Fischer describing them as “a serious setback for democracy.” The backdrop Erdogan, a populist with increasingly authoritarian tendencies, has led Turkiye as prime minister or president for more than 20 years and is now the longest-serving leader in the Turkish republic's history.

      His current term runs until 2028 but he has indicated he'd like to serve longer — something he could achieve with the help of a friendly parliament.

      Imamoglu was arrested as police searched his home, but it wasn't immediately clear if anything was confiscated. His wife, Dilek Imamoglu, told the private Now television that police arrived at their residence before dawn and that the mayor was taken around 7:30 am.

      The Istanbul Stock Exchange's main index dropped by 7 per cent over the news of his arrest, automatically triggering a temporary halt in trading to prevent panic selling and stabilise the market. Trading later resumed but was again halted in the afternoon. The Turkish Lira lost some 7 per cent of its value against the dollar.

      Anadolu, the news agency, said that Ekrem Imamoglu and several others are suspected of extortion, money laundering and irregularities concerning tenders and procurements, among other crimes.

      Imamoglu is also suspected of aiding the outlawed Kurdistan Workers' Party, or PKK, by allegedly forming an alliance with a Kurdish umbrella organisation for the Istanbul municipal elections, the report said. The PKK has waged a decades-long insurgency within Turkiye and is designated a terrorist organisation by Ankara, Washington and other allies.

      Silencing the opposition A day earlier, Istanbul University invalidated Imamoglu's diploma, effectively disqualifying him from running in the next presidential race — a university degree is a requisite for running in elections under Turkish law.

      The mayor's party — the main opposition Republican People's Party, or CHP — was to hold a primary on Sunday where Imamoglu was expected to be chosen for its candidate in future presidential elections.

      With all the arrests Wednesday, that vote was in doubt but party chairman Ozgur Ozel told the opposition-aligned Halik TV channel that it would go ahead as planned. Ozel said Imamoglu's detention was “an attempted coup against our next president.” In a social media post in English, Imamoglu said: “The will of the people cannot be silenced through intimidation or unlawful acts. I stand resolute, entrusting myself not only to the 16 million residents of Istanbul but to the 86 million citizens" of Turkiye.

      Turkiye's pro-Kurdish Peoples' Equality and Democracy Party condemned the detentions and called for the immediate release of all taken into custody.

      The dawn raid on Imamoglu's home and his arrest was a "disgrace that will not be forgotten for centuries. This operation, which shatters faith in justice, is an attempt to redesign politics through the judiciary,” Tulay Hatimogullari, the party's co-chairwoman, wrote on X.

      As he was being arrested, Ongun, the mayor's aide, appealed for support on X, though he at the time did not appear to know that the mayor was also being taken into custody.

      “They think they can silence us and prevent us from defending and supporting Ekrem Imamoglu,” Ongun said. “I entrust Ekrem Imamoglu to the Turkish nation. Protect, watch over and support him. They cannot be defeat the nation.” Separately, police also detained a prominent investigative journalist, Ismail Saymaz, for questioning, the opposition-aligned Halk TV reported.

      Meanwhile, internet-access advocacy group netblocks.org reported Wednesday that access has been restricted in Turkiye to popular social media platforms.

      Legal obstacles In nullifying Imamoglu's diploma, the university cited alleged irregularities in his 1990 transfer from a private university in northern Cyprus to its Faculty of Business Administration. Imamoglu said he would challenge the decision.

      Later Wednesday, students at the university held a protest to denounce Imamoglu's arrest. No violence was immediately reported.

      Imamoglu faces multiple lawsuits, including allegations of trying to influence a judicial expert investigating opposition-led municipalities. The cases could result in prison sentences and a political ban.

      He is also appealing a 2022 conviction of insulting members of Turkiye's Supreme Electoral Council, a case that could result in a political ban.

      Imamoglu was elected mayor of Turkiye's largest city in March 2019 in a historic blow to Erdogan and the president's Justice and Development Party, which had controlled Istanbul for a quarter-century.

      The party pushed to void the municipal election results in the city of 16 million, alleging irregularities.

      The challenge resulted in a repeat of the election a few months later, which Imamoglu also won. The mayor retained his seat following local elections last year, during which his party made significant gains against Erdogan's governing party.

      Devlet Bahceli, an Erdogan ally from the Nationalist Movement Party, slammed the opposition on X, saying Wednesday that to “oppose the judiciary and law, even to debate it, is an invitation to discord and violence” and adding it was “important to accept whatever decision was made by the courts.” (AP) NPK NPK

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