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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
    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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      Countries shore up their digital defences as global tensions raise threat of cyberwarfare

      April 20, 2025

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      Washington, Apr 20 (AP) Hackers linked to Russia's government launched a cyberattack last spring against municipal water plants in rural Texas. At one plant in Muleshoe, population 5,000, water began to overflow. Officials had to unplug the system and run the plant manually.

      The hackers weren't trying to taint the water supply. They didn't ask for a ransom. Authorities determined the intrusion was designed to test the vulnerabilities of America's public infrastructure. It was also a warning: In the 21st century, it takes more than oceans and an army to keep the United States safe.

      A year later, countries around the world are preparing for greater digital conflict as increasing global tensions and a looming trade war have raised the stakes — and the chances that a cyberattack could cause significant economic damage, disrupt vital public systems, reveal sensitive business or government secrets, or even escalate into military confrontation.

      The confluence of events has national security and cyber experts warning of heightened cyberthreats and a growing digital arms race as countries look to defend themselves.

      At the same time, President Donald Trump has upended America's digital defences by firing the four-star general who led the National Security Agency, shrinking cybersecurity agencies and slashing election cybersecurity initiatives.

      Businesses now are increasingly concerned about cyberattacks, and governments have moved to a war footing, according to a report this month by NCC Group, a British cybersecurity firm.

      “The geopolitical dust is still settling,” said Verona Johnstone-Hulse, a London-based expert on government cybersecurity polices and the report's co-author. “What the new normal looks like is still not yet set.” Many in the US are already calling for a more muscular approach to protecting the digital frontier.

      “Hybrid war is here to stay,” said Tom Kellermann, senior vice president of cyberstrategy at Contrast Security. “We need to stop playing defense — it's time to make them play defence.” Digital life means more targets for hackers Vulnerabilities have grown as people and businesses use connected devices to count steps, manage finances and operate facilities such as water plants and ports. Each network and connection is a potential target for foreign governments or the hacking groups that sometimes do their bidding.

      Espionage is one motive, demonstrated in a recent incursion linked to hackers in China. The campaign known as Salt Typhoon sought to crack the phones of officials, including Trump, before the 2024 election.

      These operations seek entry to sensitive corporate or government systems to steal secrets or monitor personal communications.

      Such information can be hugely valuable by providing advantages in trade negotiations or military planning. These hackers try to remain hidden for as long as possible.

      More obvious intrusions can serve as a warning or deterrent, such as the cyberattacks targeting the Texas water plants. Iran also has shown a willingness to use cyberattacks to make political points.

      The cyberattacks that frighten experts the most burrow deeply into telephone or computer networks, inserting backdoors or malware for later use.

      National security experts say this was the motivation behind a recent attack from China called Volt Typhoon that compromised telephone networks in the US in an effort to gain access to an unknown number of critical systems.

      China could potentially use these connections to disable key infrastructure — power plants, communication networks, pipelines, hospitals, financial systems — as part of a larger conflict or before an invasion of Taiwan, national security experts said.

      “They can position their implants to be activated at a date and time in the future,” said Sonu Shankar, a former researcher at Los Alamos National Laboratory who is now chief strategy officer at Phosphorus Cybersecurity.

      National security officials will not discuss details, but experts interviewed by The Associated Press said the US no doubt has developed similar offensive capabilities.

      China has rejected US allegations of hacking, accusing America of trying to “smear” Beijing while conducting its own cyberattacks.

      Global tensions tick up Wars in Ukraine and the Middle East. Trade disputes. Shifting alliances. The risk of cyberattacks goes up in times of global tension, and experts say that risk is now at a high.

      US adversaries China, Russia, Iran and North Korea also have shown signs of cybercooperation as they forge tighter economic, military and political relationships.

      Speaking to Congress, Director of National Intelligence Tulsi Gabbard noted that Iran has supplied drones in exchange for Russian intelligence and cybercapabilities.

      “Russia has been the catalyst for much of this expanded cooperation, driven heavily by the support it has needed for its war effort against Ukraine,” Gabbard told lawmakers.

      Amid global fears of a trade war after the tariffs that Trump has imposed, supply chains could be targeted in retaliation.

      While larger companies may have a robust cyberteam, small suppliers that lack those resources can give intruders easy access.

      And any tit-for-tat cycles of cyberconflict, in which one country hacks into a sensitive system as retaliation for an earlier attack, come with “great risk” for all involved, Shankar said. “It would put them on the path to military conflict." The Trump effect At a time when national security and cybersecurity experts say the US should be bolstering its defences, Trump has called for reductions in staffing and other changes to the agencies that protect American interests in cyberspace.

      For example, Trump recently fired Gen. Timothy Haugh, who oversaw the NSA and the Pentagon's Cyber Command.

      The US faces “unprecedented cyber threats”, said Virginia Sen. Mark Warner, the top Democrat on the Senate Intelligence Committee. He has asked the White House to explain Haugh's departure. “How does firing him make Americans any safer?" Warner said.

      Also under Trump, the US Cybersecurity and Infrastructure Security Agency placed on leave staffers who worked on election security and cut millions of dollars in funding for cybersecurity programmes for local and state elections.

      His administration eliminated the State Department's Global Engagement Centre, which tracked and exposed foreign disinformation online.

      The CIA, NSA and other intelligence agencies also have seen reductions in staffing.

      The administration faced more questions over how seriously it takes cybersecurity after senior officials used the popular messaging app Signal to discuss sensitive information about upcoming military strikes in Yemen. Gabbard later called the episode a mistake.

      The officials in charge of America's cybersecurity insist Trump's changes will make the US safer, while getting rid of wasteful spending and confusing regulations.

      The Pentagon, for instance, has invested in efforts to harness artificial intelligence to improve cyber-defences, according to a report provided to Congress by Lt. Gen. William J. Hartman, acting commander of the NSA and Cyber Command.

      The changes at the Cybersecurity and Infrastructure Security Agency come as its leaders consider how best to execute their mission in alignment with the administration's priorities, a CISA statement said.

      “As America's Cyber Defence Agency, we remain steadfast in our mission to safeguard the nation's critical infrastructure against all cyber and physical threats,” the statement read.

      "We will continue to collaborate with our partners across government, industry, and with international allies to strengthen global cybersecurity efforts and protect the American people from foreign adversaries, cybercriminals, and other emerging threats.” Representatives for Gabbard's office and the NSA didn't respond to questions about how Trump's changes will affect cybersecurity.

      Signs of progress? Despite shifting alliances, a growing consensus about cyberthreats could prompt greater global cooperation.

      More than 20 nations recently signed on to an international framework on the use of commercial spyware. The US has signalled it will join the non-binding agreement.

      There's also broad bipartisan agreement in the US about the need to help private industry bolster defences.

      Federal estimates say the cybersecurity industry needs to hire an additional 500,000 professionals to meet the challenge, said Dean Gefen, former chief of cybertraining for Israel's Defence Intelligence Technological Unit. He's now the CEO of NukuDo, a cybersecurity training company.

      “Companies need effective guidance from the government — a playbook," Gefen said. “What to do, what not to do.” (AP) PY PY

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