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    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
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    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
    Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India'
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
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    India weathered Hormuz disruption without fuel shortages: Puri
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    August 10, 2026
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    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
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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
    Show AI Summary
    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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      Customs & Trade

      Numbers that matter from first 100 days of Trump's second term

      April 29, 2025

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      Washington, Apr 29 (AP) President Donald Trump's first 100 days back in the White House have been a demolition job — and that's a point of pride for his administration.

      For the Republican administration, the raw numbers on executive actions, deportations, reductions in the federal workforce, increased tariff rates and other issues point toward a renewed America.

      To Trump's critics, though, he's wielding his authority in ways that challenge the Constitution's separation of powers and pose the risk of triggering a recession.

      From executive orders to deportations, some defining numbers from Trump's first 100 days: Roughly 140 executive orders In just 100 days, Trump has nearly matched the number of executive orders that his predecessor, Democrat Joe Biden, signed during the previous four years, 162. Trump, at roughly 140, is essentially moving at a pace not seen since Franklin Delano Roosevelt's presidency, when the Great Depression necessitated urgent action.

      But the number alone fails to capture the unprecedented scope of Trump's actions. Without seeking congressional approval, Trump has used his orders and directives to impose hundreds of billions of dollars annually in new import taxes and reshape the federal bureaucracy by enabling mass layoffs.

      John Woolley, a professor at the University of California, Santa Barbara and co-director of the American Presidency Project, sees “very aggressive assertions of presidential authority in all kinds of ways” that are far more audacious than anything done by former presidents.

      That includes Biden's student debt forgiveness program and Barack Obama's decision to allow residency for immigrants who arrived in the country illegally as children.

      “None of those had the kind of arbitrary, forceful quality of Trump's actions,” Woolley said.

      145 per cent tariff rate on China Trump's tariff agenda has unnerved the global economy. He's gone after the two biggest US trade partners, Mexico and Canada, with tariffs of as much as 25 per cent for fentanyl trafficking.

      He's put import taxes on autos, steel and aluminum. On his April 2 “Liberation Day”, he slapped tariffs on dozens of countries that were so high that the financial markets panicked, causing him to pull back and set a 10 per cent baseline tax on imports instead to allow 90 days of negotiations on trade deals.

      But that pales in comparison to the 145 per cent tariff he placed on China, which prompted China to fight back with a 125 per cent tax on US goods.

      There are exemptions to the US tariffs for electronics. But inflationary pressures and recession fears are both rising as a trade war between the world's two largest economies could spiral out of control in dangerous ways.

      The US president has said that China has been talking with his administration, but he's kept his description of the conversations vague. The Chinese government says no trade negotiations of any kind are underway. Trump is banking on the tariffs raising enough revenue for him to cut taxes, even as he simultaneously talks up the prospect of an agreement.

      So far, despite the economic risks, the Trump team shows little desire to budge, even as the president claims a deal with China will eventually happen.

      “I believe that it's up to China to de-escalate because they sell five times more to us than we sell to them,” Treasury Secretary Scott Bessent told CNBC on Monday.

      More than 10,000 square miles of Crimea Trump said during his presidential campaign that he could quickly defuse the Russian-started war in Ukraine. But European allies and others say the US president's statements about how to end the war reflect a troubling affinity for Russian leader Vladimir Putin.

      Trump's peace proposal says that Ukraine must recognise Russian authority over the more than 10,000 square miles of the Crimean Peninsula.

      Ukrainian President Volodymr Zelenskyy rejected the idea out of hand: “There is nothing to talk about — it is our land, the land of the Ukrainian people.” The US president is essentially asking Ukraine to surrender any claims to a land mass slightly larger than Maryland. Russia annexed the area in 2014 when Obama was president, and Trump says he's simply being realistic about its future.

      The four meetings that Trump's envoy, Steve Witkoff, has had with Putin have yet to produce a trustworthy framework for the deal that Trump wants to deliver.

      After recent Russian missile attacks on Ukrainian cities and towns, Trump posted on social media that perhaps Putin “doesn't want to stop the war, he's just tapping me along”.

      Over 2,000 more Palestinians in Gaza dead Trump was eager to take credit for an “epic ceasefire” agreement in the Israel-Hamas War in order to restart the release of hostages taken in Hamas' October 7, 2023, attack. But the ceasefire ended in March, and more than 2,000 Palestinians have died since the temporary truce collapsed. Palestinian officials have put the total number of deaths above 52,200. Food, fuel and medicine have not entered the Gaza Strip for almost 60 days.

      Trump said in February that he would remove the Palestinians from the Gaza Strip and relocate them elsewhere, suggesting that the United States could take over the area, level the destroyed buildings and construct a luxurious “Riviera of the Middle East”.

      Roughly 280,000 federal job losses The Department of Government Efficiency, led by tech billionaire and adviser Elon Musk, is dramatically shrinking the government workforce. Across all agencies, there have been about 60,000 firings, including at the IRS, which might make it harder to collect taxes and reduce the budget deficit.

      Another 75,000 federal workers accepted administration buyout offers. And the Trump administration has floated at least another 145,000 job cuts.

      Those estimated job losses don't include the possible layoffs and hiring freezes at nonprofits, government contractors and universities that had their federal funding frozen by the Trump administration.

      The federal government had about 3 million federal employees, including at the US Postal Service, when Trump became president, according to the Labour Department.

      139,000 deportations The Trump administration says it has deported 139,000 people who were in the United States without proper legal authority. Trump's first months also have produced a sharp drop in crossings at the Southwest border, with Border Patrol tracking 7,181 encounters in March, down from 137,473 the same month last year.

      Deportations have occasionally lagged behind Biden's numbers, but Trump officials reject the comparison as not “apples to apples” because fewer people are crossing the border now.

      The administration maintains that it's getting rid of violent and dangerous criminals. But many migrants who assert their innocence have been deported without due process.

      In April, the Supreme Court directed the Trump administration to “facilitate” the return to the US of Kilmar Abrego Garcia, an El Salvador citizen who was deported to his home country. Abrego Garcia had been living in Maryland and had an immigration court order preventing his deportation to his native country over fears he would face persecution from local gangs. So far, Abrego Garcia remains held in a Salvadoran prison.

      Trump said last week that he won the presidential election on the promise of deportations and that the courts are interfering with his efforts.

      “We're getting them out, and a judge can say, No, you have to have a trial,'" Trump said. "The trial's going to take two years, and now we're going to have a very dangerous country if we're not allowed to do what we're entitled to do.” (AP) PY PY

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