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    Regional Rural Banks (RRBs) Record Strong Growth in Credit Delivery during FY 2025–26
    METSTO Delivers Adjustable Pallet Racking System Solutions for Warehouses
    China rolls out new measures to boost consumption in counties, smaller cities
    Strengthening Collaboration to Preserve Sovereignty: Collaborative Cash Ecosystems - Global Strategies to Preserve Trust and Sovereignty - Keynote Add...
    SC asks CBI to examine all six allegations of dubious transactions involving Indiabulls
    Cyber fraudsters invent 'boss' scam to target companies; Ahmedabad cops bust international network
    Personal Loan Prepayment Charges: What RBI Rules Say in 2026
    Zeeba Revamps Packaging and Announces Chef Vikas Khanna as Its Global Brand Ambassador
    Paul Merchants Finance Launches Loan Against Silver, Becomes India’s First NBFC to Set Up Exclusive Silver Loan Branches
    CarePass Launches This Independence Day, Bringing Healthcare Savings Across India's Top and Premium Hospitals
    Keralam CM flags off containers from Vizhinjam, marking start of EXIM operations
    Kerala: Fresh ED raids in CMRL-Exalogic Solutions case
    ED raids KPSC office, ex-chairman in veterinary officers hiring 'scam' case
    Keralam CM reviews operational preparedness at Vizhinjam port
    Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chairs 3rd Meeting of Apex Monitoring Authority of NICDIT and reviews the pro...
    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
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August 18, 2026
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Priority sector lending strengthened rural credit access through agricultural, micro-enterprise and weaker-section finance, reinforcing financial inclusion and sustainable development.
Regional Rural Banks expanded rural credit delivery while maintaining strong Priority Sector Lending performance during FY 2025-26. Almost all Regional Rural Banks met the prescribed overall priority-sector target. Agriculture and allied activities remained the largest priority-sector component, with farm credit accounting for nearly all agricultural lending. MSME finance predominantly supported micro enterprises, rural entrepreneurs, artisans and small businesses. Lending to weaker sections and finance for housing, education, renewable energy and social infrastructure promoted inclusive access to institutional credit and sustainable rural development.
August 18, 2026
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Adjustable pallet racking systems support customised, scalable warehouse storage through configurable layouts, safety assessment, installation and lifecycle support.
Adjustable pallet racking systems are configurable warehouse-storage solutions for varied inventory dimensions, weights and product types. They support bulk pallet storage, multi-level picking and high-density configurations through adjustable beams and shelves, load-bearing capacity, structural durability and space-efficient layouts. Storage configurations are customised after assessing inventory dimensions, payload requirements, available space and material-movement frequency, with support for design, installation, inspections and after-sales service.
August 18, 2026
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Domestic consumption expansion targets lower-tier markets through improved retail channels, distribution networks, employment support and household income opportunities.
China has introduced measures to strengthen domestic consumption in counties, smaller cities, townships and rural areas. The measures include upgrading township commercial centres, rural markets and local fairs; encouraging domestic and international brands to establish regional debut stores; and reusing existing land resources to improve services. They also seek better services for elderly persons and children, stronger urban-rural distribution networks, county-level employment and resident income channels. The strategy supports a shift towards household consumption amid weak domestic demand, property-sector pressures and subdued consumer sentiment.
August 18, 2026
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Currency management preserves monetary sovereignty through clean notes, secure logistics, decentralised distribution, durable banknotes, and sustainable cash-cycle operations.
Currency management supports trust in cash and monetary sovereignty through demand planning, secure production, distribution, replacement, and disposal. The Clean Note Policy requires good-quality banknotes to be available in required denominations and locations, with unfit notes continuously withdrawn and replaced. A decentralised Currency Chest network distributes fresh currency, processes returned notes, supports linked bank branches, and operates under licensing, real-time reporting, inspection, and audit requirements. Current priorities include managing uncertain cash demand, improving note durability, and reducing the carbon footprint of the cash cycle.
August 18, 2026
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Independent investigation of alleged dubious transactions requires examination of all six allegations despite prior police conclusions.
Investigation into alleged dubious transactions involving Indiabulls Housing Finance Limited and related entities must cover all six allegations identified by the Enforcement Directorate. The CBI must independently examine five allegations previously reviewed by the Delhi Police Economic Offence Wing, irrespective of its conclusion, and submit a comprehensive report. Further investigation into the sixth allegation depends on the special PMLA court deciding the CBI's pending application, after which the CBI must provide a progress or status report.
August 18, 2026
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Boss scam prevention requires independent verification of payment requests and avoidance of malicious WhatsApp attachments that enable executive impersonation.
Boss scam, or CEO impersonation fraud, uses malicious WhatsApp attachments and impersonation of regulatory officials or company executives to obtain control of WhatsApp sessions and issue fraudulent payment instructions. The alleged network supplied SIM cards, dummy SIMs, WhatsApp accounts and one-time passwords to cyber-fraud operators, illustrating a Cybercrime as a Service model. Preventive measures include avoiding suspicious ZIP, executable, library and APK files and independently verifying all financial-transfer requests.
August 18, 2026
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Floating-rate personal loan prepayment protections prohibit charges and compulsory lock-ins for qualifying individual non-business borrowers from 2026.
Prepayment charges are prohibited for part or full repayment of qualifying floating-rate loans availed by individual borrowers for non-business purposes and sanctioned or renewed on or after 1 January 2026. Compulsory lock-in periods cannot restrict prepayment of such loans. Fixed-rate personal loans may still attract prepayment or foreclosure charges under lender policy and contractual terms. Borrowers should check the loan's rate type, sanction letter, loan agreement and key fact statement, where applicable, and compare applicable charges with potential interest savings before early repayment.
August 18, 2026
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Premium Basmati rice positioning drives Zeeba's packaging refresh and ambassador-led campaign focused on quality, authenticity and domestic expansion.
Zeeba has refreshed its packaging and appointed Chef Vikas Khanna as global brand ambassador to support expansion in India. Its "Aisa Basmati Nahi Dekha" campaign positions the brand around export-quality Basmati rice, consistency, authenticity and a superior culinary experience. Promotional activity will extend across digital, retail and consumer touchpoints. The premium Basmati range is described as carefully sourced, naturally aged and processed according to global quality standards, with emphasis on grain quality, authentic taste, purity and consistency.
August 18, 2026
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Silver-collateral lending creates a formal secured-credit channel for eligible borrowers, subject to regulatory requirements and lender policies.
Loans against silver collateral have been introduced following the Reserve Bank of India's Lending Against Gold and Silver Collateral Directions, 2025, enabling eligible regulated lenders to accept silver as security. The offering provides a formal and transparent credit channel against eligible silver jewellery, ornaments and approved silver coins. It is intended for individuals, proprietors and MSMEs requiring liquidity for personal, business and other legitimate financial needs, subject to lending policies and applicable regulatory requirements.
August 18, 2026
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Healthcare discount membership provides instant savings on out-of-pocket care at participating premium providers without insurance claims or paperwork.
CarePass is a healthcare savings membership card providing instant point-of-billing discounts at participating premium healthcare providers across India. It covers out-of-pocket spending on hospital treatment, diagnostics, dental, vision, dermatology, hair and skin care, and IVF and maternity services, without claim processing, waiting periods or paperwork. Members present a digital CarePass at a participating provider to receive the applicable discount. Four membership tiers offer differing benefits, with higher tiers including tele-consultations and annual health checks. CarePass is a discount membership and not an insurance product.
August 18, 2026
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EXIM operations at Vizhinjam commence with container movement, supported by investor facilitation, infrastructure backing and port-led logistics development.
EXIM operations at Vizhinjam international seaport commenced with the flagging off of two containers after a successful trial export shipment. The state government proposes investor engagement, regulatory facilitation and infrastructure support to expand global export activities through the port. Mission Samudra is to operate as a port-led industrial and logistics development scheme. The deep-water port was developed under a public-private partnership model and had received commercial commissioning certification.
August 18, 2026
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Money-laundering investigation under PMLA expands through searches into alleged consultancy payments linked to CMRL and Exalogic Solutions.
Money-laundering investigation under the Prevention of Money Laundering Act involves fresh searches connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions. The inquiry concerns alleged fraudulent payments made under the guise of IT consultancy services and a purported money trail involving persons allegedly connected with those transactions. The action follows earlier searches and questioning in relation to the same matter.
August 18, 2026
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Recruitment examination irregularities trigger money-laundering investigation into alleged bribery, paper leaks, answer-sheet tampering, and preferential veterinary officer selections.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in veterinary officers' final selection through a public recruitment examination. Searches covered premises linked to commission officials, alleged intermediaries, the digital evaluation entity, and selected candidates. Allegations include bribery demands, examination-paper leakage, OMR answer-sheet tampering, and facilitation of selection for relatives of commission officials.
August 18, 2026
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Export-import operations advance through operational preparedness review and planned port-led industrial and logistics development initiatives.
Operational preparedness for full land-based export-import operations at Vizhinjam Seaport was reviewed, including the Vehicle Traffic Management System. EXIM cargo operations follow a trial shipment of the port's first export container to Valencia. Mission Samudra is proposed to support port-led industrial and logistics development alongside these operations. The deep-water port was developed through a public-private partnership model and had obtained commercial commissioning certification before its dedication to the nation.
August 18, 2026
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Industrial corridor development prioritises empowered SPVs, integrated infrastructure and investor-ready parks to accelerate manufacturing investment and operations.
National Industrial Corridor Development Programme implementation prioritises timely infrastructure completion, land allotment, investment mobilisation and commencement of manufacturing. PM GatiShakti-aligned planning requires integrated connectivity, utilities and social infrastructure, while States should resolve land, clearance and SPV-power bottlenecks. BHAVYA proposes investment-ready, plug-and-play industrial parks appraised for ready land, credible demand, connectivity, utilities, realistic phasing and early investor attraction. NICDIT routes Government participation and equity support for BHAVYA project SPVs, and NICDC coordinates implementation and monitoring.
August 17, 2026
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RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
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Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
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Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
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FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
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Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.

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Senate takes up a budget plan crafted by Republicans to advance Trump's agenda

April 5, 2025

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Washington, Apr 5 (AP) The Senate dived into contentious debate Friday on a budget plan critical to Republican efforts to pass trillions of dollars in tax cuts and boost border security and defense spending through what President Donald Trump calls “one big beautiful bill.” Passage of the plan would give Republicans the chance in coming months to muscle a tax cut bill through both chambers of Congress even if Democrats are unanimously opposed, just as they did in Trump's first term.

Democrats are intent on making the effort as politically painful as possible, beginning with all-night votes on dozens of proposals that GOP senators will have to defend before next year's mid-term elections, including on Trump's tariff policies and the administration's efforts to shrink the federal government.

Republicans are framing their work as preventing a tax increase for most American families. Unless Congress acts, the individual and estate tax cuts that Republicans passed in 2017 will expire at the end of this year.

“Republicans believe fundamentally that Americans know best what to do with their money,” said Senate Majority Leader John Thune, R-S.D.

Democrats accused Republicans of laying the groundwork for increasing deficits and cutting key safety net programs such as Medicaid and nutritional assistance to help pay for tax cuts they say disproportionately benefit the wealthy.

“The investments that affect America's future are hanging by a thread, and Republicans are about to cut it," said Senate Democratic leader Chuck Schumer of New York.

The debate Friday was generally one-sided. Senate Democrats are taking full advantage of 25 hours of their available debate time, while Republicans yielded much of theirs in order to get to an all-night voting frenzy referred to as a vote-a-rama. Once lawmakers have exhausted their list of amendments and themselves, they'll move to a final vote on the plan itself, most likely sometime Saturday morning.

The Senate is expected to approve the measure. The House will also have to pass it to unlock the process that Republicans can use to pass legislation with a simple majority and avoid a Democratic filibuster.

And that's just the beginning.

Developing a final bill will take weeks, if not months, with the GOP leadership and Trump needing virtually every Republican vote to get a package over the finish line. The GOP leaders will confront concerns from fiscal hawks in deep red states and congressional districts who want trillions of dollars in spending cuts to help pay for the tax breaks. And they will confront dozens of lawmakers in swing districts and states worried about what those cuts will mean for their constituents, and their reelection chances.

It will be a delicate task with no guarantee of success, particularly as economic gyrations from Trump's tariff policies test his ability to keep Republicans united.

The Senate's budget plan allows for extending the individual and estate tax cuts under a scoring method that treats them as not adding to future deficits, even though a new estimate from the Joint Committee on Taxation projects they will add USD 5.5 trillion over the next decade when including interest, and USD 4.6 trillion not including interest.

On top of that, the budget plan instructs the Senate Finance Committee to expand deficits by up to $1.5 trillion more over that same timeframe. That would give senators room to include some of Trump's campaign promises, such as no tax on tips, Social Security benefits and overtime. Republicans are also looking to increase the $10,000 deduction for state and local taxes, something that lawmakers from states such as New York, California and New Jersey say is necessary to get their support.

The budget plan also allows the Senate to increase the debt ceiling by up to USD 5 trillion. Final approval of such an increase would allow the federal government to continue to finance its debts and push any further votes on the matter until after next year's mid-term elections. Trump is wary of giving Democrats the chance to extract concessions on a debt ceiling vote.

The plan also instructs four Senate committees to find at least USD 1 billion each in budget reductions. That's just a small fraction of the potential tax relief. But the leadership is emphasizing that the instructions purposefully set a low floor for spending cuts to provide maximum flexibility and that committees will be on the hunt for far more.

Committees are also given authority to pursue as much as USD 521 billion to boost border security, defense and the Coast Guard, though Budget Committee Chairman Lindsey Graham, R-S.C., has said the final spending total will be closer to USD 345 billion.

The House budget plan provided for USD 4.5 trillion in tax breaks over 10 years, though the amount for tax breaks would shrink if the spending cut totals don't get to USD 2 trillion in savings.

The GOP leadership has encouraged members to just get a budget plan over the finish line, saying they have time to work out the tough questions of which tax breaks and spending cuts to include.

Throughout the debate, Democratic have focused on framing the tax cuts as helping out the wealthiest at the expense of average Americans. Sen. Jeff Merkley, the lead Democrat on the Senate Budget Committee, spoke with a sign behind him that read “Republican Plan: Families Lose, Billionaires Win.” “That's a terrible plan,” Merkley said.

Extending the the 2017 breaks would cut taxes for about three-quarters of households but raise them for about 10 percent. In 2027, about 45 per cent of the benefit of all the tax cuts would go to those making roughly $450,000 or more, according to the Urban-Brookings Tax Policy Center, which analyzes tax issues.

Sen. John Barrasso, the No.-2 ranking GOP senator, said voters gave Republicans a mission and a mandate in November, and the Senate budget plan delivers.

“It fulfills our promises to secure the border, to rebuild our economy and to restore peace through strength,” Barrasso said. (AP) ARD ARD

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