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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
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    Rupee settles with 5 paise gain at 95.17 against US dollar
    India weathered Hormuz disruption without fuel shortages: Puri
    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
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
    DRI intensifies vigil along India's North-Eastern Frontier
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    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
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    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
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    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
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    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
    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.
    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.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    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.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
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    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
    August 7, 2026
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    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.

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      What to know about conclave to elect next pope

      May 7, 2025

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      Vatican City, May 7 (AP) One hundred and thirty-three cardinals are sequestering themselves behind the Vatican's medieval walls for the start of a conclave starting Wednesday to elect a successor to Pope Francis.

      Here are some things to know about the election of the 267th pontiff of the Catholic Church, which has 1.4 billion faithful across the world.

      Why is the conclave being held now? The conclave was called after Francis died on April 21 at age 88. There was a delay between his death and the conclave to allow time for a funeral, burial and a period of mourning. It was also necessary to give cardinals time to arrive in Rome from all corners of the Earth, and to let them get acquainted before entering the conclave, an ancient ritual steeped in mystery and ritual.

      What happens in a conclave? The cardinals are cut off from the world at the Vatican, between residences and the Sistine Chapel, where they vote in secret — and in silence — beneath Michelangelo's famed ceiling fresco of the Creation and his monumental “Last Judgment.” The process — fictionalised in the 2024 political thriller “Conclave” — is said to be guided by the Holy Spirit, and is designed to be both contemplative and free from outside interference.

      Taking no chances, the Vatican is asking cardinals to hand over their phones for the duration of the conclave and is deactivating cell phone coverage at the Vatican.

      It also plans to use signal jammers around the Sistine Chapel and the Domus Santa Marta hotel and adjacent residence where the cardinals will sleep, in order to prevent surveillance and communication with the outside world.

      White or black smoke signals? The electors cast paper ballots, and voting continues until one candidate receives a two-thirds majority, or 89 votes. After two rounds of voting, ballots are burned in a special stove — black smoke signals no decision, while white smoke means a new pope has been chosen.

      Electors must be under 80 years old, and are more geographically diverse than ever. They represent Catholicism's growing presence in Africa, Asia, and Latin America, as well as its traditional power base in Europe.

      How long does it take? The longest conclave in history lasted nearly three years, but it's reasonable to assume that this conclave will be much, much shorter.

      Cardinals this week said they expect a short conclave, though it will likely take at least a few rounds of voting. The conclave opens late afternoon Wednesday. Cardinals are expected to hold the first round of voting on Wednesday, but there is no requirement that they do so.

      For most of the past century, it has taken between three and eight ballots to find a pope. John Paul I — the pope who reigned for 33 days — was elected on the third ballot in 1978. His successor, St. John Paul II, needed eight. Francis was elected on the fifth in 2013.

      Who are the contenders? There are no official candidates for the papacy, but some cardinals are considered “papabile,” or possessing the characteristics necessary to become pope.

      After John Paul II broke the Italian hold on the papacy in 1978, the field has broadened considerably, such that cardinals from far-flung countries are now seen as contenders. The past three popes have hailed from Poland (John Paul II), Germany (Benedict XVI) and Argentina (Francis).

      Of the 133 cardinals expected to vote at the conclave, 108 were appointed by Francis. They may feel a loyalty to continuing his legacy — even though the late pontiff didn't choose cardinals based on ideology, but rather for their pastoral priorities and geographical diversity.

      Beyond that, the cardinals will consider practical matters, like age. Picking a relatively young man — say in his 60s — could result in a papacy of 20 years or longer.

      Picking a pope from where the church is growing – Asia or Africa – could bring more upheaval to the Vatican's Italian-heavy bureaucracy that is still smarting from the Argentine pope's go-it-alone style.

      What happens after a new pope is chosen? Once a candidate receives the necessary votes and accepts, he chooses a papal name and enters the “Room of Tears” — named for the emotional weight of the responsibility ahead — to don his papal vestments.

      Minutes later, he is introduced to the world from the balcony of St. Peter's Basilica with the proclamation in Latin: "Annuntio vobis gaudium magnum: Habemus Papam!” (“I bring you tidings of great joy: We have a pope!”) That will be immediately followed by the revelation of his baptismal name, in Latin, followed by the papal name he has chosen.

      A line that stretches back to St. Peter and Jesus Every new pope is seen as a successor to St. Peter, the apostle believed by Catholics to have been appointed by Jesus as the head of the church. In the Gospel of Matthew, Jesus tells him, “You are Peter, and on this rock I will build my church," a verse that forms the biblical basis for the papacy.

      According to tradition, Peter travelled to Rome to spread the Christian message and was martyred there during the reign of the Emperor Nero, around 64 A.D., as Christians were being persecuted. He was said to be crucified upside down at his own request, considering himself unworthy to die in the same manner as Jesus.

      St. Peter's Basilica now stands over what is believed to be his tomb.

      Why does the pope matter beyond the Catholic Church? Though the pope leads a religious institution, his influence extends far beyond it. Pope John Paul II played a pivotal role in supporting the Solidarity movement in his native Poland and encouraging resistance to Soviet domination in Eastern Europe. His moral leadership was credited by many with helping to hasten the end of the Cold War.

      Pope Francis, the first pontiff from Latin America, became a prominent voice on global issues from climate change to migration and economic inequality. He called for compassion toward refugees, warned against the dangers of nationalism, and urged action to protect the planet — stances that resonated well beyond church walls, and at times put him at odds with political leaders.

      A name to signal a papal direction The first sign of the new pope's priorities will come in the name he chooses.

      A Francis II might signal a new pope's embrace of Francis' legacy of prioritising the poor and marginalised; a Pius would hint at a traditionalist restoration.

      From John Paul to Benedict to Francis, each name has carried historical weight and theological intent. For the 267th pope, it will be his first message to the world. (AP) GRS GRS

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