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    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
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    China's exports slow slightly in July despite robust demand for high-tech products
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    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
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    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.
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    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.
    August 7, 2026
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    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
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    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
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    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
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    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
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    Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
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    Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
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    August 6, 2026
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    Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
    An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
    August 6, 2026
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    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
    Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
    August 6, 2026
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    Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
    Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
    August 6, 2026
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    Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
    Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.

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      Customs & Trade

      Threatened by Trump tariffs, Japan walks delicate tightrope between US and China

      May 6, 2025

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      Washington, May 6 (AP) Just as Japan's top trade negotiator travelled to Washington for another round of tariff talks last week, a bipartisan delegation bearing the name of “Japan-China Friendship” wrapped up a visit to Beijing.

      A week earlier, the head of the junior party in Japan's ruling coalition was in Beijing delivering a letter from Japanese Prime Minister Shigeru Ishiba addressed to Chinese President Xi Jinping. Details of the letter are unknown, but the two sides discussed US tariffs in addition to bilateral issues.

      Among all US allies being wooed by Beijing in its tariff stare-down with Washington, Japan stands out.

      It is a peculiar case not only for its staunch commitment to its alliance with the United States but also for its complicated and uneasy history with the neighbouring Asian giant — particularly the war history from the 20th century that still casts a shadow over the politics of today.

      “On one hand, they are neighbours and they are important economic partners. There's a lot that connects Japan and China,” said Matthew Goodman, director of the Greenberg Centre for Geoeconomics at the Council on Foreign Relations. “But on the other hand, I think there are limits to how far they're going to lean into China.” While Japan won't walk away from its alliance with the United States, the linchpin of the Asian country's diplomacy and security policies, “it's also true that the tariffs and uncertainty that Trump has created for Japan is really shaking things up in Tokyo,” Goodman said.

      Last month, President Donald Trump announced a 24% tariff on Japanese goods in a sweeping plan to levy duties on about 90 countries. The White House has since paused the tariffs but a 10% baseline duty on all countries except China, allowing time for negotiations. Still, Trump's 25% tax on aluminum, steel and auto exports have gone into effect for Japan.

      The tariff moves, as well as Trump's “America First” agenda, have cast doubts among the Japanese if the United States is still a dependable ally, while China is rallying support from tariff-threatened countries — including Japan.

      In Beijing, Japan sees positive signs When Tetsuo Saito led Japan's Komeito Party delegation to Beijing in late April, China hinted at difficulty in its tariff dispute with the United States, signaling its willingness to improve ties with Tokyo. An unnamed senior Chinese official said his country was "in trouble” when discussing Trump's 145% tariff on Chinese products, according to Japanese reports.

      Saito's visit was soon followed by that of the bipartisan delegation of Japan-China Friendship Parliamentarians' Union. Zhao Leji, Beijing's top legislator, told the delegation that China's National People's Congress would be “willing to carry out various forms of dialogue and exchanges." Beijing did not lift a ban on Japan's seafood imports as the Japanese delegates hoped, but it signaled positive signs on its assessment of the safety of the discharges of treated radioactive wastewater from the Fukushima Daiichi nuclear power plant. Beijing banned Japan's seafood products in 2023, citing those concerns.

      Ties between Tokyo and Beijing have long been rocky. In the past several years, they squabbled not only over the seafood ban but also long-standing territorial disputes over the Senkaku, or Diaoyu, islands in the East China Sea, Beijing's growing military assertiveness and violence against Japanese nationals in China — an issue complicated by the nations' uneasy history.

      Tokyo's closer ties with Washington during Joe Biden's presidency also upset Beijing, which saw it as part of the US strategy to contain China and has lectured Tokyo to “face squarely and reflect on the history of aggression.” An imperial power in Asia for centuries, China fell behind Japan in the 19th century when Japan began to embrace Western industrialization and grew into a formidable economic and military power. It invaded China in the 1930s and controlled the northeastern territory known as Manchuria. War atrocities, including the Nanking Massacre and the use of chemical and biological weapons and human medical experiments in Manchuria, have left deep scars in China. They have yet to be healed, though Japan's conservative politicians today still attempt to deny the aggression.

      Ishiba, elected Japan's prime minister in October, has a more neutral view on his country's wartime history than the late Prime Minister Shinzo Abe and his two successors. Weeks after taking office, Ishiba held talks with Xi on the sidelines of a leaders' summit.

      Chinese scholars, however, see Tokyo's recent engagements with Beijing as a pragmatic move to hedge against US protectionism and not a long-term strategy for stability with China.

      The odds are low for Japan to move into China's orbit, Goodman said. “They have for a long time had to manage an important but challenging relationship with China," he said. “And that is, again, a long-standing problem for Japan, going back centuries or millennia.” Seeking tariff deals and stable ties in the US While Japan might welcome the friendlier tone from Beijing, it is trying to stabilize Japan-US relations under Trump's “America First” agenda, and it is hoping to settle the tariff dispute without confronting Washington, with an eye on preventing Beijing from exploiting any fallout in Japan-US relations.

      Japan was among the first countries to hold tariff talks with Washington. During the first round in mid-April, Trump inserted himself into the discussions, a sign of the high stakes for the United States to reach a deal with Japan. The Trump administration reportedly pushed for Japan to buy more US-made cars and open its market to US beef, rice and potatoes.

      After the second round of negotiation in Washington last week, Ryosei Akazawa, the country's chief tariff negotiator, said he pushed Japan's request that the US drop tariffs and was continuing efforts toward an agreement acceptable to both sides. He said Japan's auto industry was already hurting from the 25% tariff and that he needed to be “thorough but fast.” Asked about China, Akazawa said only that his country keeps watching the US-China tariff development “with great interest." He noted Japan's deep trade ties with China.

      Competing in Southeast Asia While China and Japan are working to mend ties, the two are also competing in the Southeast Asia region, where Trump has threatened high tariffs as well. The region is deeply integrated into China's supply chain but under pressure from the West to diversify and reduce its reliance on China. With younger and growing populations as compared to East Asia, the region is considered an important growth centre.

      Japan, as a major postwar development aid contributor, has gradually regained trust in the region, which also was scarred by Japan's World War II past.

      On Wednesday, Ishiba returned from Vietnam and the Philippines after agreeing with their leaders to further strengthen security and economic ties. During the visit, Ishiba stressed Japan's commitment to maintaining and strengthening a multilateral free-trade system in each country. Ishiba also had telephone talks with his Malaysian and Singaporean counterparts earlier this month about US tariffs.

      Just weeks earlier, Xi was in Vietnam, Malaysia and Cambodia, also stressing free trade and seeking stronger supply chains.

      At a recent discussion at the Washington-based think tank Hudson Institute, Itsunori Onodera, Japan's governing party policy chief, warned of “very unstable” feelings among many Asian countries faced with high tariffs from the United States.

      “There's a danger they might become more distant and become closer to China,” Onodera said. “This is not something that Japan wants, either.” (AP) AMS

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