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    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
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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
    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
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
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    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.

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      No clear strategy from govt on dealing with Pahalgam attack aftermath: Kharge at CWC meet

      May 2, 2025

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      New Delhi, May 2 (PTI) Congress president Mallikarjun Kharge on Friday said the government had not come out with any clear strategy to deal with the situation arising out of the Pahalgam terror attack, even as he asserted that the entire opposition was with the Centre on the issue.

      In his remarks at the Congress Working Committee (CWC) meeting at the party's 24, Akbar Road office, Kharge also said the government had accepted the party's demand for a caste survey but the timing "surprised us".

      He, however, raised doubts over the government's intentions and asked party leaders to remain alert to take the caste survey to a logical conclusion.

      The Congress president credited former party chief Rahul Gandhi for the government's decision to conduct a caste survey, saying the opposition leader in the Lok Sabha had again proved that if "we raise the issues of the people with honesty, the government has to bow down".

      Noting that the party had extended all possible support to the Centre in the fight against terrorism at the last CWC meeting, Kharge said no clear strategy had come from the government even several days after the Pahalgam attack.

      Gandhi had met family members of Shubham Dwivedi in Kanpur and demanded that the government give martyr status and respect to the deceased, he noted.

      "We will unitedly and strictly act against any challenge that comes in the way of the country's unity, integrity and prosperity. The entire opposition is with the government on this issue. We have given this message to the whole world," Kharge said.

      He pointed out that, in the meantime, the Modi government decided to conduct a caste survey alongside the census exercise.

      "For this, first of all, I congratulate Rahul ji who, by constantly raising the issue, forced the government to decide on the caste census. You turned it into a powerful campaign during the Bharat Jodo Nyay Yatra … and social justice became the most important issue of the 18th Lok Sabha elections," Kharge said.

      "Rahul ji has again proved that if we raise the issues of the people with honesty, the government has to bow down. From the Land Acquisition Amendment Bill to withdrawal of the three black farm laws, the caste census has now joined the series of developments in which a stubborn government has had to bow down once again," Kharge said.

      The government on Wednesday announced that caste enumeration would be included in the forthcoming census exercise in a "transparent" manner and slammed the opposition parties for using the caste survey as a "political tool".

      Caste surveys have been completed in Congress-governed Telangana and Karnataka and the findings are being incorporated in framing government schemes, Kharge said.

      "During the AICC session in Gujarat as well, we passed a resolution on April 9, reiterating our demand. We also demanded the removal of the 50 per cent cap on reservation. The work of removing this ceiling will be done through a constitutional amendment," he added.

      "The government accepted our years-old demand for a caste census but the time chosen surprised us … Many doubts have arisen in our minds due to the language and sentiment with which many things were said," he said, referring to the government's announcement.

      "When I wrote to the prime minister on April 16, 2023, and demanded this, the government was completely against it. Then how did they have a change of heart suddenly? The government opposed our demand on every platform. It was called divisive and called an Urban Naxal (thought). Modi ji and RSS leaders criticised it in state election campaigns. Slogans like 'Batenge toh Katenge' were raised," he said.

      Kharge urged party leaders to tell people the entire process of the 2011 caste survey that started during the United Progressive Alliance (UPA) 2 government ended on March 31, 2016.

      "The government itself accepted this in response to a Rajya Sabha question in 2022. Then was it not stupidity to expect us to publish incomplete data in 2014?" he asked.

      "We will say we are happy that they understood our point, albeit, late. There is an old saying, better late than never!" Kharge said.

      In the 2024 elections, the Congress had talked about getting a comprehensive social, economic and caste survey conducted to know the population of all castes and communities, their socioeconomic condition, their share in the national wealth and their representation in institutions related to governance, he said and added, "It is our view that this will be an X-ray of society." "We have consistently stood by this demand. As the main opposition party, we have constantly raised this demand during 'Save Constitution' campaigns. Rahul ji has constantly raised this demand in every speech of his inside and outside Parliament. All our colleagues took this matter forward. Therefore, I congratulate all of you for this," he said at the CWC meeting.

      Asserting that the caste survey was not an issue of victory or defeat or politics for the party, he said the Congress had always fought against socioeconomic backwardness and poverty. "This remains a part of our political agenda." "Two months before the caste census of 1931, Mahatma Gandhi wrote an editorial in YOUNG INDIA and said: 'Just as we get medical tests done from time to time to check our body, census is the most important test of any nation'. Gandhi ji had also said: 'The usefulness of the census is when the government uses the necessary information for welfare'," Kharge said.

      He said the Congress also had to ensure that the caste survey was done in the right manner.

      "Whatever results come out, they should also be implemented. Policies and laws should be made according to them," he said.

      "The Modi government did not conduct the 2021 census and, even today, all government work is going on on the data of the 2011 census," he said.

      The Modi government kept postponing the work of caste survey due to the "anti-reservation" thinking of the RSS, he claimed.

      "But now, when the public started joining the Congress and allied parties on this issue, it was not possible for Modi ji to postpone it any longer," he said.

      He added many questions still remained -- from the budget to the government's policy and intention.

      "Therefore, we have to remain alert till it is taken to its conclusion," he said.

      Kharge claimed that the government was engaged in misleading the people on the issue.

      "Today, in Bihar, its big leaders are trying to give the credit for this to the BJP and Prime Minister Modi by holding press conferences in every district and are claiming the Congress itself was against the caste census. Therefore, we have to make our strategy. If necessary, we should take our allies along and hold a public meeting at the national level or state levels, whichever is appropriate, or hold press conferences across the country," he said. PTI ASK/SKC SZM SZM

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