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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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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      Unquestionably in violation: Judge says US government didn't follow court order on deportations

      May 22, 2025

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      Washington, May 22 (AP) The White House violated a court order on deportations to third countries with a flight linked to the chaotic African nation of South Sudan, a federal judge said Wednesday, hours after the Trump administration said it had expelled eight immigrants convicted of violent crimesbut refused to reveal where they would end up. The judge's statement was a notably strong rebuke to the government's deportation efforts.

      In an emergency hearing he called to address reports that immigrants had been sent to South Sudan, Judge Brian E. Murphy in Boston said the eight migrants aboard the plane were not given a meaningful opportunity to object that the deportation could put them in danger. Minutes before the hearing, administration officials accused “activist judges” of advocating the release of dangerous criminals.

      “The department actions in this case are unquestionably in violation of this court's order,” Murphy said Wednesday, arguing that the deportees didn't have “meaningful opportunity” to object to being sent to South Sudan. The group was flown out of the United States just hours after getting notice, leaving them no chance to contact lawyers who could object in court.

      Government attorneys argued that the men had a history with the immigration system, giving them prior opportunities to express a fear of being deported to a country outside their homeland. They also pointed out that the judge had not specified the exact time needed between notice and deportation, leaving room for misunderstanding.

      The government calls the deported people true national security threats' The migrants' home countries — Cuba, Laos, Mexico, Myanmar, Vietnam and South Sudan — would not take them back, according to Todd Lyons, the acting director of Immigration and Customs Enforcement, who spoke to reporters in Washington. He later said the migrants either came from countries that often do not take back all their deported citizens or had other situations that meant they could not be sent home.

      “These represent the true national security threats,” Lyons said at a news conference. Behind him was a display of photos of men he said had been convicted of rape, homicide, armed robbery and other crimes.

      Administration officials, who have repeatedly clashed with the courts over their attempts to deport large numbers of immigrants, made their displeasure clear Wednesday.

      President Donald Trump and Homeland Security Secretary Kristi Noem “are working every single day to get these vicious criminals off of American streets — and while activist judges are on the other side, fighting to get them back onto the United States soil,” said Tricia McLaughlin, a department spokesperson. She pointed to the photographs and described them as “the monsters” that Murphy “is trying to protect.” Homeland Security officials released few specific details about the deportation flight. They said it left Tuesday with eight people on board and said they remained in the department's custody Wednesday. Officials said they could not disclose the migrants' final destination because of “safety and operational security.” The case comes amid a sweeping immigration crackdown by the Republican administration, which has pledged to deport millions of people who are living in the United States illegally. The legal fight is the latest flashpoint as the administration rails against judges whose rulings have slowed the president's policies.

      Lawsuits on immigration issues are everywhere With Congress largely silent or supportive, opponents of Trump's agenda have filed hundreds of lawsuits and judges have issued dozens of orders against the administration. Immigration has been the most contentious issue. There was the mistaken deportation of an immigrant who was living in Maryland to a prison in El Salvador, as well as Trump's push to swiftly deport alleged Venezuelan gang members without a court review.

      The administration officials insisted that the deported men had received due process, but did not provide details. Immigration-rights attorneys argue they violated Murphy's order, first handed down in March, that says people must have a chance to argue that going somewhere outside their homeland would put them in danger before being deported, even if they've otherwise exhausted their legal appeals.

      “The government is still refusing to provide due process to our clients, which means they are not giving them notice of the country to which they're being deported, proper notice in a language that they understand, and not giving them a meaningful opportunity to claim fear based on those countries,” Trina Realmuto, the executive director of the National Immigration Litigation Alliance, said outside court.

      “These are countries that the State Department doesn't want Americans to travel to. They are categorically not safe,” she added.

      In court, Realmuto asked the judge to return the individuals to the United States. “They are no less deserving of protection than any other human beings on this planet,” she said.

      The government argued the interviews with the men over their fears could be done where they are currently being held and confirmed with Murphy that they can be arranged. Realmuto called this a “logistical nightmare” that penalizes the men because the government violated the judge's order. She said it would prove a challenge to get the men legal counsel and interpreters, an effort complicated by the time difference.

      Murphy, who raised the prospect of criminal contempt for anyone “involved in an illegal deportation,” said he would come up with a remedy as soon as Wednesday night. He seemed satisfied with a new set of interviews conducted abroad with the migrants as long as an appropriate place with appropriate privacy can be found. He also said the government was welcome to bring the migrants back.

      The countries of origin vary Attorneys for the immigrants told the judge that immigration authorities may have sent as many as a dozen people from several countries to Africa.

      The apparent removal of one man from the troubled Southeast Asian nation of Myanmar was confirmed in an email from an immigration official in Texas, according to court documents. He was informed only in English, a language he does not speak well, and his lawyers learned of the plan hours before his deportation flight, they said.

      A woman also reported that her husband from Vietnam and up to 10 other people were flown to Africa on Tuesday morning, attorneys from the National Immigration Litigation Alliance wrote.

      Murphy, who was nominated by Democratic President Joe Biden, previously found that any plans to deport people to Libya without notice would “clearly” violate his ruling.

      South Sudan says it's unaware of any arrivals South Sudan's police spokesperson, Maj. Gen. James Monday Enoka, told The Associated Press on Wednesday that no migrants had arrived in the country and that if they do, they would be investigated and “redeported to their correct country” if found not to be South Sudanese.

      Edmund Yakani, executive director of the South Sudanese group Community Empowerment for Progress Organization, questioned why people convicted of crimes in the United States would be sent there. “Is South Sudan a land of less human who deserve to receive perpetrators of human rights violations? Without any public explanation?” he asked.

      Some countries do not accept deportations from the United States. That has led the administration to strike agreements with other countries, including Panama, to house them. The U.S. has sent Venezuelans to a notorious prison in El Salvador under an 18th-century wartime law, an action being contested in the courts.

      South Sudan has endured repeated waves of violence since gaining independence from Sudan in 2011 amid hopes it could use its large oil reserves to bring prosperity to a region long battered by poverty. Just weeks ago, the country's top U.N. official warned that fighting between forces loyal to the president and a vice president threatened to spiral again into full-scale civil war.

      The State Department's annual report on South Sudan, published in April 2024, says “significant human rights issues” include arbitrary killings, disappearances, torture or inhumane treatment by security forces and extensive violence based on gender and sexual identity.

      The Homeland Security Department has given Temporary Protected Status to a small number of South Sudanese already living in the United States, shielding them from deportation because conditions were deemed unsafe for return. Noem recently extended those protections to November to allow for a more thorough review.

      The U.S is one of the biggest donors to South Sudan's humanitarian aid programs, with the total funding in 2024 standing at over USD 640 million. HIG HIG

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