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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
    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
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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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      Merck Foundation and Maldives First Lady Starting Their Partnership to Build Healthcare Capacity, Break Infertility Stigma and Stop GBV in Maldives

      May 8, 2025

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      Mumbai, Maharashtra, India & Malé, Maldives – Business Wire India Merck Foundation, the philanthropic arm of Merck KGaA Germany underscored their long-term commitment to build healthcare capacity and break infertility stigma in Maldives during their high-level meeting with H.E. Mrs. SAJIDHA MOHAMED, The First Lady of the Republic of Maldives, held at the Official Residence of the President. The discussion led by Prof. Dr. Frank Stangenberg Haverkamp, Chairman of Merck Foundation BOT and Senator, Dr. Rasha Kelej, CEO of Merck Foundation.

      Senator Dr. Rasha Kelej expressed, “It was an honor to meet my dear sister H.E. Mrs. SAJIDHA MOHAMED, The First Lady of the Republic of Maldives, and officially appointing her to be the Ambassador of “Merck Foundation More Than a Mother”. During our meeting, we discussed our joint programs and underscored our commitment towards building healthcare capacity and transforming patient care landscape by providing scholarships for local doctors. We also discussed about addressing critical social and health issues in the country, including breaking the infertility stigma, stopping gender-based violence, women empowerment, and diabetes and hypertension awareness.” H.E. Mrs. SAJIDHA MOHAMED, The First Lady of the Republic of Maldives and Ambassador of “Merck Foundation More Than a Mother” expressed, “It is a pleasure to welcome and meet Merck Foundation Chairman and CEO to our country. We discussed our joint programs. I am happy to share that we have already started providing scholarships for our local doctors in Fertility and Embryology training. These are two very critical specialties for our country. We also plan to enroll our doctors in other specialties, further underscoring our partnership with the Merck Foundation to enhance healthcare capacity in the Maldives.” Prof. Dr. Frank Stangenberg Haverkamp, Chairman of Merck Foundation BOT shared, “Our aim is to improve the overall health and wellbeing of people by building healthcare capacity across Africa, Asia and other developing countries. We are strongly committed to transforming patientcare landscape through our scholarships program. Till today, we have provided more than 2370 scholarships for young doctors from 52 countries in 44 critical and underserved specialties.” During their visit to the Maldives, the Chairman and CEO of Merck Foundation also met with Hon. Mr. Abdulla Nazim Ibrahim, Minister of Health, where they discussed scaling up the scholarship programs in alignment with the country's healthcare needs.

      Through their Community Awareness Programs, Merck Foundation is also closely working with The First Lady of Maldives to address a wide range of critical social issues like breaking infertility stigma, stopping gender-based violence and women empowerment, and important health issues, including promoting the importance of healthy lifestyle, and diabetes and hypertension awareness.

      Merck Foundation will be soon conducting their Health Media Training together with The First Lady of Maldives for the Maldivian journalists, to emphasize on the important role that media plays to influence society to create a cultural shift and be the voice of the voiceless. The training program will be addressed by prominent Medical and Media experts.

      Moreover, Merck Foundation in partnership with The First Lady of Maldives has also launched their 8 important Merck Foundation Awards for Maldivian Media, Musicians & Singers, Fashion Designers, Filmmakers, and students & new potential talents in these fields.

      “I invite the young talents from the Maldives to share their entries with us,” added Senator Dr. Kelej.

      Details of the Awards: 1. Merck Foundation Media Recognition Awards “More Than a Mother” 2025, in partnership with The First Lady of Maldives: Media representatives and media students are invited to showcase their work to raise awareness about one or more of the following social issues: Breaking Infertility Stigma and Women Empowerment.

      Submission deadline: 30th September 2025.

      2. Merck Foundation Fashion Awards “More Than a Mother” 2025, in partnership with The First Lady of Maldives: All Fashion Students and Designers are invited to create and share designs to deliver strong and influential messages to raise awareness about one or more of the following social issues: Breaking Infertility Stigma and Women Empowerment.

      Submission deadline: 30th September 2025.

      3. Merck Foundation Film Awards “More Than a Mother” 2025, in partnership with The First Lady of Maldives: All Filmmakers, Students of Film Making Training Institutions, or Young Talents of Africa are invited to create and share a long or short FILMS, either drama, documentary, or docudrama to deliver strong and influential messages to address one or more of the following social issues: Breaking Infertility Stigma and Women Empowerment.

      Submission deadline: 30th September 2025.

      4. Merck Foundation Song Awards “More Than a Mother” 2025, in partnership with The First Lady of Maldives: All Singers and Musical Artists are invited to create and share a SONG with the aim to address one or more of the following social issues: Breaking Infertility Stigma and Women Empowerment.

      Submission deadline: 30th September 2025.

      5. Merck Foundation Media Recognition Awards “Diabetes & Hypertension” 2025, in partnership with The First Lady of Maldives: Media representatives are invited to showcase their work through strong and influential messages to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

      Submission deadline: 30th October 2025.

      6. Merck Foundation Fashion Awards “Diabetes & Hypertension” 2025, in partnership with The First Lady of Maldives: All Fashion Students and Designers are invited to create and share designs to deliver strong and influential messages to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

      Submission deadline: 30th October 2025.

      7. Merck Foundation Film Awards “Diabetes & Hypertension” 2025, in partnership with The First Lady of Maldives: All Filmmakers, Students of Film Making Training Institutions, or Young Talents of Africa are invited to create and share a long or short FILMS, either drama, documentary, or docudrama to deliver strong and influential messages to promote a healthy lifestyle raise awareness about prevention and early detection of Diabetes and Hypertension.

      Submission deadline: 30th October 2025.

      8. Merck Foundation Song Awards “Diabetes & Hypertension” 2025, in partnership with The First Lady of Maldives: All Singers and Musical Artists are invited to create and share a SONG with the aim to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

      Submission deadline: 30th October 2025.

      Entries for the above awards can be submitted to us at: [email protected] For information on the awards, please visit our website: www.merck-foundation.com Click on the link below to Download Merck Foundation App https://apps.apple.com/co/app/merck-foundation/id1535584997?l=en Join the conversation on our social media platforms below and let your voice be heard! Facebook: Merck Foundation X: @MerckFoundation YouTube: MerckFoundation Instagram: Merck Foundation Threads: Merck Foundation Flickr: Merck Foundation Website: https://merck-foundation.com/ About Merck Foundation The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality & equitable healthcare solutions in underserved communities, building healthcare & scientific research capacity, empowering girls in education and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website. Please visit www.merck-foundation.com to read more. Follow the social media of Merck Foundation: Facebook, X, Instagram, YouTube, Threads and Flickr.

      The Merck Foundation is dedicated to improving social and health outcomes for communities in need. While it collaborates with various partners, including governments to achieve its humanitarian goals, the foundation remains strictly neutral in political matters. It does not engage in or support any political activities, elections, or regimes, focusing solely on its mission to elevate humanity and enhance well-being while maintaining a strict non-political stance in all of its endeavors.

      To View the Image, Click on the Link Below: Prof. Dr. Frank Stangenberg Haverkamp, Chairman of Merck Foundation BOT and Senator, Dr. Rasha Kelej, CEO of Merck Foundation during their high-level meeting with H.E. Mrs. SAJIDHA MOHAMED, The First Lady of the Republic of Maldives (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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