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    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
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    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
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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
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Russia's strong ties with both Israel, Iran could help it emerge as power broker

      June 15, 2025

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      Moscow, Jun 15 (AP) Russia has maintained a delicate balancing act in the Middle East for decades, trying to navigate its warm relations with Israel even as it has developed strong economic and military ties with Iran.

      Israel's military strikes this weekend on Iranian nuclear and military facilities, killing top generals and scientists, and Tehran's response with drones and missiles, put Moscow in an awkward position, requiring fine diplomatic skills to preserve ties with both parties. But it also could open opportunities for Russia to possibly become a power broker to help end the confrontation.

      Some observers in Moscow also argue that the focus on the confrontation between Israel and Iran could distract global attention from the war in Ukraine and play into Russia's hands by potentially weakening Western support for Kyiv.

      A Russian condemnation but little else Russian President Vladimir Putin spoke to both Israel Prime Minister Benjamin Netanyahu and Iranian President Masoud Pezeshkian, offering to help de-escalate the conflict.

      In his call with Pezeshkian, Putin condemned the Israeli strikes and offered his condolences. He noted that Russia has put forward specific initiatives aimed at resolving the situation around the Iranian nuclear programme.

      Russia's Foreign Ministry issued a strongly worded statement condemning the Israeli strikes as “categorically unacceptable” and warning that "all the consequences of this provocation will fall on the Israeli leadership.” It urged both parties “to exercise restraint in order to prevent further escalation of tensions and keep the region from sliding into a full-scale war.” But despite the harshly worded condemnation of Israel's actions, Moscow hasn't issued any signal that it could offer anything beyond political support to Tehran despite a partnership treaty between the countries.

      In his call with Netanyahu, Putin “emphasized the importance of returning to the negotiation process and resolving all issues related to the Iranian nuclear programme exclusively through political and diplomatic means," and he offered his mediation “in order to prevent further escalation of tensions,” the Kremlin said in a readout.

      “It was agreed that the Russian side will continue close contacts with the leadership of both Iran and Israel, aimed at resolving the current situation, which is fraught with the most disastrous consequences for the entire region,” it added.

      Putin and US President Donald Trump discussed the escalating situation in the Middle East by phone Saturday. Putin's foreign affairs adviser Yuri Ushakov said the Kremlin leader emphasized Russia's readiness to carry out mediation efforts, and noted it had proposed steps “aimed at finding mutually acceptable agreements” during US-Iran negotiations on the Iranian nuclear programme.

      Moscow-Tehran ties: From tense to strategic partners Relations between Moscow and Tehran often were tense in the Cold War, when Shah Mohammad Reza Pahlavi was a US ally. After the 1979 Islamic Revolution, leader Ayatollah Ruhollah Khomeini branded the U.S. as the “Great Satan,” but also assailed the Soviet Union as the “Lesser Satan.” Russia-Iran ties warmed quickly after the USSR's demise in 1991, when Moscow became an important trade partner and a top supplier of weapons and technology to Iran as it faced international sanctions. Russia built Iran's first nuclear power plant in the port of Bushehr that became operational in 2013.

      Russia was part of the 2015 deal between Iran and six nuclear powers, offering sanctions relief for Tehran in exchange for curbing its atomic programme and opening it to broader international scrutiny. It offered political support when the US unilaterally withdrew from the agreement during Trump's first term.

      After a civil war in Syria erupted in 2011, Russia and Iran pooled efforts to shore up Bashar Assad's government. They helped Assad reclaim most of the country but failed to prevent a swift collapse of his rule in December 2024 after a lightning opposition offensive.

      When Moscow launched its full-scale invasion of Ukraine in 2022, the West alleged that Tehran signed a deal with the Kremlin to deliver Shahed drones and later launch their production in Russia.

      In January, Putin and Pezeshkian signed the “comprehensive strategic partnership” treaty that envisions close political, economic and military ties.

      Russia-Israel ties stay strong despite tensions During the Cold War, Moscow armed and trained Israel's Arab foes. Diplomatic relations with Israel ruptured in 1967 but were restored in 1991. Russian-Israeli ties quickly warmed after the collapse of the Soviet Union and have remained strong.

      Despite Moscow's close ties with Tehran, Putin has repeatedly demonstrated his readiness to take Israeli interests into account.

      He has maintained warm, personal ties with Netanyahu, who frequently traveled to Russia before the war in Ukraine.

      Russia and Israel have built a close political, economic and cultural relationship that helped them tackle delicate and divisive issues, including developments in Syria. It survived a tough test in 2018, when a Russian military reconnaissance aircraft was shot down by Syrian forces responding to an Israeli airstrike, killing all 15 people aboard.

      And even though Russia supplied Iran with sophisticated S-300 air defense missile systems, which Israel said were taken out during its strikes last year on Iran, Moscow has dragged its feet on deliveries of other weapons in an apparent response to Israeli worries. In particular, Russia has delayed providing advanced Su-35 fighter jets that Iran wants so it can upgrade its aging fleet.

      Israel, in its turn, appeared to take Moscow's interests into account by showing little enthusiasm for providing Ukraine with weapons in the 3-year-old war.

      The Kremlin's friendly ties with Israel has fueled discontent in Tehran, where some members of the political and military leadership reportedly were suspicious of Moscow's intentions.

      Possible Russian gains from Middle East tensions Maintaining good ties with both Israel and Iran could pay off now, placing Moscow in a position of a power broker trusted by both parties and a potential participant in any future deal on Tehran's nuclear programme.

      Long before Friday's strikes, Putin discussed the mounting Middle East tensions in his calls with Trump, conversations that offered the Russian leader a chance to pivot away from the war in Ukraine and engage more broadly with Washington on global issues.

      Deputy Foreign Minister Sergei Ryabkov suggested in recent days that Russia could take highly enriched uranium from Iran and convert it into civilian reactor fuel as part of a potential agreement between the United States and Iran.

      Prospects for negotiating a deal under which Iran would accept tighter restrictions on its nuclear programme appear dim after the Israeli strikes. But if talks resume, Russia's offer could emerge as a pivotal component of an agreement.

      Many observers believe the Israeli attacks will likely fuel global oil prices and help enrich Moscow at a time when its economy is struggling.

      “It will destroy the hopes of Ukraine and its allies in Western Europe for a drop in Russian oil revenues that are essential for filling the military budget,” Moscow-based military analyst Ruslan Pukhov wrote in a commentary.

      Some commentators in Moscow also argue the confrontation in the Middle East will likely distract Western attention and resources from the war in Ukraine and make it easier for Russia to pursue its battlefield goals.

      “The world's attention to Ukraine will weaken,” said pro-Kremlin analyst Sergei Markov. “A war between Israel and Iran will help the Russian army's success in Ukraine.” (AP) NSA NSA

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