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    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
    Vijayan slams Kerala govt's move to end doorstep pension delivery through cooperative banks
    Kerala to stop welfare pension delivery through cooperative banks, shifts to DBT
    China's exports slow slightly in July despite robust demand for high-tech products
    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    APEDA Organises BIOFACH INDIA 2026 to Promote India's Certified Organic Products and Expand Global Market Access
    RBI bars banks from disabling mobile devices of defaulting borrowers
    Par panel for early conclusion of India-US trade pact, tariff exemptions on key goods
    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
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    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
    Show AI Summary
    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.
    August 7, 2026
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    Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
    BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
    August 6, 2026
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    Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
    Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
    August 6, 2026
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    Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
    An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
    August 6, 2026
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    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
    Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
    August 6, 2026
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    Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
    Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
    August 6, 2026
    Show AI Summary
    Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
    Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
    August 6, 2026
    Show AI Summary
    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
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    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.

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      Nicaragua's former President Violeta Chamorro dies at 95, family says

      June 15, 2025

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      San Jose, Jun 14 (AP) Violeta Chamorro, an unassuming homemaker who was thrust into politics by her husband's assassination and stunned the world by ousting the ruling Sandinista party in presidential elections and ending Nicaragua's civil war, has died, her family said in a statement on Saturday. She was 95.

      The country's first female president, known as Doña Violeta to both supporters and detractors, she presided over the Central American nation's uneasy transition to peace after nearly a decade of conflict between the Sandinista government of Daniel Ortega and US-backed Contra rebels.

      At nearly seven years, Chamorro's was the longest single term ever served by a democratically elected Nicaraguan leader, and when it was over she handed over the presidential sash to an elected civilian successor — a relative rarity for a country with a long history of strongman rule, revolution and deep political polarisation.

      Chamorro died in San Jose, Costa Rica, according to the family's statement shared by her son, Carlos Fernando Chamorro, on X.

      “Doña Violeta died peacefully, surrounded by the affection and love of her children and those who had provided her with extraordinary care, and now she finds herself in the peace of the Lord,” the statement said.

      A religious ceremony was being planned in San Jose. Her remains will be held in Costa Rica “until Nicaragua returns to being a Republic,” the statement said.

      In more recent years, the family had been driven into exile in Costa Rica like hundreds of thousands of other Nicaraguans fleeing the repression of Ortega.

      Violeta Chamorro's daughter, Cristiana Chamorro, was held under house arrest for months in Nicaragua and then convicted of money laundering and other charges as Ortega moved to clear the field of challengers as he sought reelection.

      The Violeta Barrios de Chamorro Foundation closed its operations in Nicaragua in January 2021, as thousands of nongovernmental organizations have been forced to do since because Ortega has worked to silence any critical voices. It had provided training for journalists, helped finance journalistic outlets and defended freedom of expression.

      Husband's assassination Born Violeta Barrios Torres on October 18, 1929, in the southwestern city of Rivas, Chamorro had little by way of preparation for the public eye. The eldest daughter of a landowning family, she was sent to US finishing schools.

      After her father's death in 1948, she returned to the family home and married Pedro Joaquin Chamorro, who soon became editor and publisher of the family newspaper, La Prensa, following his own father's death.

      He penned editorials denouncing the abuses of the regime of Gen. Anastasio Somoza, whose family had ruled Nicaragua for four decades, and was gunned down on a Managua street in January 1978.

      The killing, widely believed to have been ordered by Somoza, galvanised the opposition and fuelled the popular revolt led by Ortega's Sandinista National Liberation Front that toppled the dictator in July 1979.

      Chamorro herself acknowledged that she had little ambition beyond raising her four children before her husband's assassination. She said she was in Miami shopping for a wedding dress for one of her daughters when she heard the news.

      Still, Chamorro took over publishing La Prensa and also became a member of the junta that replaced Somoza. She quit just nine months later as the Sandinistas exerted their dominance and built a socialist government aligned with Cuba and the Soviet Union and at odds with the United States amid the Cold War.

      La Prensa became a leading voice of opposition to the Sandinistas and the focus of regular harassment by government supporters who accused the paper of being part of Washington's efforts — along with US-financed rebels, dubbed “Contras” by the Sandinistas for their counterrevolutionary fight — to undermine the leftist regime.

      Chamorro later recounted bitter memories of what she considered the Sandinistas' betrayal of her husband's democratic goals and her own faith in the anti-Somoza revolution.

      “I'm not praising Somoza's government. It was horrible. But the threats that I've had from the Sandinistas — I never thought they would repay me in that way,” she said.

      Peace and 'progress' Chamorro saw her own family divided by the country's politics. Son Pedro Joaquin became a leader of the Contras, and daughter Cristiana worked as an editor at La Prensa. But another son, Carlos Fernando, and Chamorro's eldest daughter, Claudia, were militant Sandinistas.

      By 1990 Nicaragua was in tatters. The economy was in shambles thanks to a US trade embargo, Sandinista mismanagement and war. Some 30,000 people had died in the fighting between the Contras and Sandinistas.

      When a coalition of 14 opposition parties nominated an initially reluctant Chamorro as their candidate in the presidential election called for February that year, few gave her much chance against the Sandinista incumbent, Ortega. Even after months of campaigning, she stumbled over speeches and made baffling blunders. Suffering from osteoporosis, a disease that weakens the bones, she broke her knee in a household fall and spent much of the campaign in a wheelchair.

      But elegant, silver-haired and dressed almost exclusively in white, she connected with many Nicaraguans tired of war and hardship. Her maternal image, coupled with promises of reconciliation and an end to the military draft, contrasted with Ortega's swagger and revolutionary rhetoric.

      “I bring the flag of love,” she told a rally shortly before the vote. “Hatred has only brought us war and hunger. With love will come peace and progress.” She shocked the Sandinistas and the world by handily winning the election, hailing her victory as the fulfillment of her late husband's vision.

      “We knew that in a free election we would achieve a democratic republic of the kind Pedro Joaquin always dreamed,” Chamorro said.

      Washington lifted trade sanctions and promised aid to rebuild the nation's ravaged economy, and by June the 19,000-strong Contra army had been disbanded, formally ending an eight-year war.

      Forced into negotiations Chamorro had little else to celebrate during her first months in office.

      In the two months between the election and her inauguration, the Sandinistas looted the government, signing over government vehicles and houses to militants in a giveaway that became popularly known as “the pinata.” Her plans to stabilize the hyperinflation-wracked economy with free-market reforms were met with stiff opposition from the Sandinistas, who had the loyalty of most of the country's organized labor.

      Chamorro's first 100 days in power were marred by two general strikes, the second of which led to street battles between protesters and government supporters. To restore order Chamorro called on the Sandinista-dominated army, testing the loyalty of the force led by Gen. Humberto Ortega, Daniel Ortega's older brother. The army took to the streets but did not act against the strikers.

      Chamorro was forced into negotiations, broadening the growing rift between moderates and hardliners in her government. Eventually her vice president, Virgilio Godoy, became one over her most vocal critics.

      Nicaraguans hoping that Chamorro's election would quickly bring stability and economic progress were disappointed. Within a year some former Contras had taken up arms again, saying they were being persecuted by security forces still largely controlled by the Sandinistas. Few investors were willing to gamble on a destitute country with a volatile workforce, while foreign volunteers who had been willing to pick coffee and cotton in support of the Sandinistas had long departed.

      “What more do you want than to have the war ended?” Chamorro said after a year in office.

      Vision of forgiveness Chamorro was unable to undo Nicaragua's dire poverty. By the end of her administration in early 1997, unemployment was measured at over 50 percent, while crime, drug abuse and prostitution — practically unheard of during the Sandinista years — soared.

      That year she handed the presidential sash to another elected civilian: conservative Arnoldo Aleman, who also defeated Ortega at the ballot.

      In her final months in office, Chamorro published an autobiography, “Dreams of the Heart,” in which she emphasized her vision of forgiveness and reconciliation.

      “After six years as president, she has broadened her definition of my children' to include all Nicaraguans,” wrote a reviewer for the Los Angeles Times. “So even political opponents like Ortega are briefly criticized in one sentence, only to be generously forgiven in the next.” After leaving office, Chamorro retired to her Managua home and her grandchildren. She generally steered clear of politics and created the Violeta Barrios de Chamorro Foundation.

      In 2011 it was revealed that she suffered from a brain tumor. In October 2018, she was hospitalised and said by family members to be in “delicate condition” after suffering a cerebral embolism, a kind of stroke. (AP) GSP

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