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    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
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    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.
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    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.
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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.
    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.
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    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.
    August 7, 2026
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    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
    Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
    August 7, 2026
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    Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
    Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
    August 7, 2026
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    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
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    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.

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      Senior cardinal urges conclave voters to pick a pope who seeks unity ahead of secret voting ritual - (A)

      May 7, 2025

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      Vatican City, May 7 (AP) With all the pomp, drama and solemnity that the Catholic Church can muster, 133 cardinals on Wednesday began centuries-old rituals to elect a successor to Pope Francis, celebrating a morning Mass before opening the most geographically diverse conclave in the faith's 2,000-year history.

      The dean of the College of Cardinals, Cardinal Giovanni Battista Re, presided over the service, urging the voters to set aside all personal interests and find a pope who prizes unity. The world today needs a leader who can awaken consciences, he said.

      From the altar of St Peter's Basilica, Re prayed that the cardinals can agree “on the pope that our time needs,” as he offered a final set of marching orders before they enter the Sistine Chapel later Wednesday to begin the secret voting.

      Hailing from 70 countries, the cardinals are being sequestered from the outside world, their cellphones surrendered and airwaves around the Vatican jammed to prevent all communications until they find a new leader for the 1.4 billion-member church.

      Francis named 108 of the 133 "princes of the church," choosing many pastors in his image from far-flung countries like Mongolia, Sweden and Tonga that had never had a cardinal before.

      His decision to surpass the usual limit of 120 cardinal electors and include younger ones from the "global south" — often marginalized countries with lower economic clout — has injected an unusual degree of uncertainty in a process that is always full of mystery and suspense, with smoke signals telling the world if a pope has been elected or not.

      Many cardinals hadn't met one another until last week and lamented they needed more time to get to know each another, raising questions about how long it might take for one man to secure the two-thirds majority, or 89 ballots, necessary to become the 267th pope.

      "Wait and see, a little patience, wait and see," said Cardinal Mario Zenari, the Vatican's ambassador to Syria.

      A final Mass, then All out The cardinals began the day by participating in the Mass in St. Peter's Basilica, attended by Vatican officials and the public as pilgrims outside braved brief rain showers to watch the proceedings on giant TV screens. The 91-year-old dean of the college, Re, prayed for cardinals to find the wisdom, counsel and understanding to elect a worthy new shepherd.

      Wearing bright red vestments, the cardinals processed down the central aisle of the basilica as the Sistine Chapel's boys' choir sang. They took up their seats around the main altar, which lies above the traditional burial place of St. Peter, considered to be the first pope.

      Re had presided at Francis' funeral, delivering a heartfelt sermon on the reforming 12-year papacy overseen by Francis, history's first Latin American pope.

      At 4:30 p.m. (1430 GMT; 10:30 a.m. EDT) the cardinals will walk solemnly into the Sistine Chapel, chanting the meditative “Litany of the Saints” and the Latin hymn "Veni Creator," imploring the saints and the Holy Spirit to help them pick a pope.

      Once there, they pledge to maintain secrecy about what is about to transpire and to not allow any interference from outsiders to influence their voting.

      Standing before Michelangelo's vision of heaven and hell in 'The Last Judgment," each cardinal places his hand on the Gospel and swears to carry out that duty.

      The awesomeness of the chapel's frescoes, and Michelangelo's in particular, is meant to remind the cardinals of the weighty responsibility they bear. In his regulations for the conclave, St. John Paul II wrote that in the Sistine Chapel, “everything is conducive to an awareness of the presence of God.” After the cardinals take their oaths, a senior cardinal delivers a meditation. The master of papal liturgical ceremonies, Archbishop Diego Ravelli, calls out "Extra omnes," Latin for "all out." Anyone not eligible to vote then leaves and the chapel doors close, allowing the work to begin.

      The cardinals don't have to take a first vote on Wednesday, but they are expected to. Assuming no winner is found, the Vatican said black smoke could be expected out of the Sistine Chapel chimney at around 7 p.m.

      The cardinals retire for the night and return Thursday morning. They can hold up to two ballots in the morning and two in the afternoon until a winner is found.

      While cardinals this week said they expected a short conclave, it will likely take at least a few rounds of voting. For much of the past century, it has taken between three and 14 ballots to find a pope. John Paul I — the pope who reigned for 33 days in 1978 — was elected on the fourth ballot. His successor, John Paul II, needed eight. Francis was elected on the fifth in 2013.

      Lobbying before the conclave While the cardinals are supposed to resist any "secular" influences in their choice, such lobbying abounded in Rome in the days before the conclave as various groups reminded cardinals of what ordinary Catholics want in a leader.

      Young Catholics penned an open letter reminding cardinals that there is no church without young people, women and the laity. Conservative Catholic media slipped cardinals copies of a glossy book containing their assessments of contenders. Survivors of clergy sexual abuse warned cardinals that they would be held accountable if they failed to find a leader who will crack down on decades of abuse and cover-up.

      Advocates for women's ordination were sending pink smoke signals over the Vatican to demand that women be allowed to be priests and participate in a conclave.

      Even the White House got involved, posting a photo of President Donald Trump dressed as a pope. Trump said it was a joke, but the gesture was denounced by former Italian Premier Romano Prodi as “indecent” political interference in matters of faith that harked back to times when secular rulers habitually wielded religion to stay in power.

      Lisette Herrera, a 54-year-old tourist from the Dominican Republic, was deeply moved to find herself by chance in Rome as the conclave began. She decided Wednesday morning to skip the Spanish Steps and Trevi Fountain and pray instead in St. Peter's Square.

      "I'm praying to the Holy Spirit for a young pope who would stay with us for a long time," she said. "I don't believe in conclave politics, I just feel that the Holy Spirit is here and that's all we need to know." Armando Statti, a pilgrim from Crotone, Italy, said he expected cardinals would settle on a pope in the image of Francis or John Paul II.

      "We hope he will be announced as soon as possible, for the sake of the whole world and for peace, and that he will embrace everyone," he said.

      Challenges facing a new pope Many challenges face the new pope and weigh on the cardinals — above all whether to continue and consolidate Francis' progressive legacy on promoting women, LGBTQ+ acceptance, the environment and migrants, or roll it back to try to unify a church that became more polarized during his pontificate. The clergy sex abuse scandal hung over the pre-conclave talks.

      Since Francis chose 80% of the voters, continuity is likely, but the form it might take is uncertain and identifying front-runners has been a challenge.

      But some names keep appearing on lists of “papabile,” or cardinals having the qualities to be pope.

      — Cardinal Pietro Parolin, 70, an Italian who was Francis' secretary of state and the Vatican No. 2, is a leading contender.

      — Filipino Cardinal Luis Tagle, 67, is a top candidate to be history's first Asian pope. He had a similarly high-profile job, heading the Vatican's evangelization office responsible for the Catholic Church in much of the developing world.

      — Hungarian Cardinal Peter Erdo, 72, the archbishop of Budapest, is a leading candidate representing the more conservative wing of the church. (AP) SSC SSC

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