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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
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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
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    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
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    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
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    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
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    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
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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
    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
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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
    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
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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.

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      Why possible motivation of deposed South Korean leader's martial law declaration matters

      April 4, 2025

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      Seoul, Apr 4 (AP) Dancing and consoling hugs. Wild whoops and anguished screams. Tears, both of joy and rage.

      Reaction to the court verdict ousting South Korean President Yoon Suk Yeol from office Friday was a vivid window into the nation's deep political divisions, as tens of thousands of Yoon opponents and supporters aired their feelings in downtown Seoul.

      As South Korea now turns to elect a new president, that divide is only likely to harden. It will be particularly on display as both sides try to answer one question about the night of December 3, when the conservative leader decreed martial law, setting himself on the road to impeachment and the loss of the presidency: What was he thinking? Yoon was confronting North Korea-sympathising politicians intent on destroying South Korea's democracy, his supporters say. No, no, liberals maintain: He was trying to deflect attention from corruption investigations of him and his wife.

      Or maybe he was in the sway of right-wing YouTubers who claim liberals have subverted the election process? This national attempt to pick through the wreckage of Yoon's decision to send heavily armed soldiers to encircle the National Assembly will be front and centre as a violently fractured South Korea begins a fierce campaign to elect a new president within two months.

      Deploying troops to the streets of any democracy is serious. But it is especially sensitive in South Korea, where memories of military rule from the 1960s to 1980s are fresh.

      And the move has further exposed the country's fault lines, along politics, national security, social standing, economics, gender and age.

      Division is intrinsic to South Korea's origin story. The Korean Peninsula was split into northern and southern halves in 1945 by Soviet and US troops, formally broken up in 1948 when both Koreas became independent countries, and then militarily separated at the Demilitarized Zone at the end of the Korean War in 1953.

      The fractures will likely get worse as presidential election campaigning gains force.

      Yoon supporters say he was thwarted by the opposition Yoon's supporters tend to frame the martial law decree as a crucial tool for a president stymied at every turn by the liberal opposition Democratic Party, which controls parliament.

      Kim Min-seon, a Yoon supporter, said it was the only way to deal with liberals blocking Yoon's efforts to fight Pyongyang's and Beijing's alleged campaigns to threaten South Korea's democracy through cyberattacks, disinformation and technology theft. The Democratic Party has denied these accusations.

      “I strongly condemn Lee Jae-myung's Democratic Party, which is an axis of evil,” Kim said during a recent rally. Lee, the opposition leader, is Yoon's archrival and seen as the presidential front-runner.

      Yoon supporters' fears are further fuelled by false claims about election fraud.

      On December 3, Yoon sent troops to National Election Commission offices to investigate alleged vulnerabilities to its computer systems that he insisted could affect the credibility of election results.

      Such claims are unsubstantiated and there is no evidence of electoral fraud, but there's a worry that the spectre could undermine confidence in future elections.

      “It's undeniable that we had election fraud, and the president made a crucial decision to expose such massive wrongdoing,” Kwon Kyung-hee, another Yoon supporter, said during a rally this week.

      Yoon critics say he was influenced by conspiracy theories Many Yoon critics see something strikingly different: a leader increasingly in the sway of conspiracy theories that portray him as a victim of a North Korea-sympathizing opposition.

      Instead, they say, he was merely an inept politician, unable to work with rivals to get things done.

      “The president's imposition of martial law was a terrible political decision made by a foolish former prosecutor who mistook compromise for surrender and dialogue for interrogation,” said Choi Hyun-seok, a Seoul office worker.

      But others see a reason closer to home, accusing Yoon of being desperate to protect himself from corruption investigations.

      Park Chan-dae, floor leader of the Democratic Party, said Yoon's martial law decree was likely an attempt to cover up “disgraceful” allegations about Yoon and his wife that had caused the president's approval ratings to plummet.

      The scandal revolves around allegations that Yoon and first lady Kim Keon Hee unlawfully influenced the conservative People Power Party to select a specific candidate for a parliamentary by-election in 2022 at the request of election broker Myung Tae-kyun. Yoon has denied any wrongdoing by him or his wife.

      Park noted that it was December 2 when Myung, facing the threat of criminal prosecution and increasing scrutiny, revealed he would hand over a phone that contains communications with Yoon and Kim.

      “Prosecutors indicted Myung Tae-kyun a day later, and Yoon Suk Yeol declared martial law on the same day,” Park said during a January party meeting. “Isn't this too coincidental to be dismissed as mere chance?” It's not immediately clear how much of a role the Myung scandal played in influencing Yoon's decree, which investigators say had been brewing for months.

      Prosecutors' indictments, instead, say Yoon was driven to martial law by disputes with the opposition over budget cuts, impeachment attempts against his allies, and baseless election fraud conspiracy theories. Though they did also briefly mention that Yoon discussed the scandal with his defence minister.

      Both Yoon's party — which is in disarray following the court ruling — and the opposition — whose leader also faces several corruption investigations — have big challenges ahead.

      And the stakes couldn't be higher for South Korea: How the political standoff plays out will determine its democratic future, but also its relations with the nuclear-armed North, a newly protectionist United States, and its major trading partner but uneasy neighbour China. (AP) PY PY

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