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    Freedom to Spend Smarter: AU Small Finance Bank Credit Cards Bring Rewards, EMI Flexibility and Lounge Access to India''s Biggest Shopping Month
    Rupee falls 8 paise to 95.25 against US dollar in early trade
    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    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
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    August 10, 2026
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    Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
    Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.
    August 10, 2026
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    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
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    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
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    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    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
    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
    Show AI Summary
    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.

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      India's Defence Triumph in Operation Sindoor Showcases the Power of DRDO Indigenous Collaboration

      June 17, 2025

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      Hyderabad, Telangana, India (NewsVoir) Operation Sindoor has come to symbolize more than just a successful military campaign—it represents India’s emerging confidence in its own defence ecosystem, powered by years of innovation, foresight, and collaborative development. At the centre of this transformative moment stands the Defence Research and Development Organisation (DRDO), whose ability to translate research into deployable combat systems has become a cornerstone of India’s modern military capability.

      Precision Strike with Missile Systems: The operation demonstrated India’s readiness across multiple domains. Akash missile systems and Supersonic cruise missiles like BrahMos played a decisive role, delivering precision strikes with speed and accuracy. These missiles not only offered a tactical edge but also showcased how indigenous missile programs have matured into globally benchmarked platforms. This progress is a direct outcome of the visionary leadership of Dr. A.P.J. Abdul Kalam, who laid the foundation and build the institutional structure through the Integrated Guided Missile Development Programme (IGMDP), and the continued dedication of successive generations of leaders, scientists and engineers who transformed that vision into reality.

      Electronic Warfare and Radars Electronic warfare systems developed by DRDO further ensured that Indian forces could dominate the electromagnetic spectrum. These systems enabled the disruption of enemy communications and surveillance infrastructure, a critical factor in neutralizing early threats and maintaining battlefield advantage. DRDO’s integration of spectrum analysis tools with advanced signal processors created a robust shield that was both adaptive and field-proven.

      Complementing these were high-performance surveillance systems and multi-mode radars that gave Indian forces complete situational awareness, even in complex operational theatres. From long-range battlefield surveillance units to electro-optical payloads, these systems ensured that the flow of real-time intelligence remained uninterrupted, enabling rapid and coordinated decision-making across command structures.

      Counter-Drone systems: The growing threat of unmanned aerial systems was countered with equal foresight. DRDO developed a comprehensive countermeasure—the D4 system. This advanced, vehicle-mounted counter-drone solution is designed to neutralize the growing risk from rogue UAVs through an integrated multi-layered architecture. The D4 system synergizes key subsystems, including RF-based drone detection, radar tracking, electro-optical/infrared (EO/IR) identification, and a combination of soft-kill and hard-kill capabilities. It effectively employs RF jammers to disrupt hostile communication links, while electro-optical tracking ensures visual confirmation and precision targeting. For kinetic neutralization, the system incorporates hard-kill mechanisms capable of engaging and destroying the aerial threat, ensuring a robust and adaptive response across diverse operational scenarios.

      The Defence Research and Development Organisation (DRDO) marked a significant achievement in 2020 by swiftly developing and deploying an indigenous anti-drone system during the challenging peak of the COVID-19 pandemic. This system was operationally deployed near Delhi's Red Fort on August 15, 2020, to safeguard the 74th Independence Day celebrations, including Prime Minister Narendra Modi's address .

      These systems neutralized some of the hostile drone incursions, protecting both frontline troops and strategic assets. Developed as part of a Development cum production partnership initiative under the leadership of DRDO’s DG, Electronics Cluster, the D4 project has emerged as a powerful case study in co-development and battlefield relevance.

      Visionary leadership: Long before drone warfare captured international focus, the Electronics Cluster at DRDO had initiated the development of modular, scalable counter-drone systems. The D4 system was the result of this proactive strategy—designed for multi-sensor integration and rapid deployment across various conflict zones. The path adopted by visionaries is to have the PSUs and Indian private companies as key development partners in the program.

      DRDO – industry ecosystem: Unistring Tech Solutions Pvt. Ltd. (UTS) a Subsidiary of Zen Technologies is one of the key private sector partners involved in the D4 program. The company was entrusted with the supply of Key RF and digital sub systems. This collaboration was marked not just by technical delivery, but by deep engagement with DRDO throughout the lifecycle of the system—from early design reviews to live field trials.

      The experience of being involved in co-development efforts, backed by strong institutional mentorship, allowed UTS to not only deliver state-of-the-art systems but to shape and adapt them based on frontline realities and evolving threat scenarios. As drone threats continue to evolve, so must the system—reflecting the dynamic nature of electronic warfare, which demands constant innovation and adaptability.

      A word of appreciation: Operation Sindoor is more than just an operational milestone—it stands as compelling evidence that India’s defence capabilities are increasingly being shaped and realized within its own borders. The journey from lab to battlefield has become shorter, more collaborative, and significantly more impactful. Under the leadership of DRDO, we have seen what becomes possible when a strong national vision is matched by the innovation and commitment of India’s Public and private sector.

      Nearly every Indian private enterprise engaged in defence today has, in some form, drawn foundational learnings through its association with DRDO. For many, DRDO served as the first door into the world of defence technology—providing guidance, opportunities, and critical early-stage support. The invaluable and often quiet contributions of DRDO’s scientific community have now yielded tangible results, delivering strategic advantages precisely when the nation needed them most.

      A Message to the youth of INDIA: To the bright young minds of India, In a world driven by technology and marked by evolving challenges, there lies an extraordinary calling—one that goes beyond personal achievement, beyond headlines and awards. It is the call to contribute to the defence of our nation, not just with courage on the frontlines, but with innovation, intellect, and integrity.

      Defence technology is not just about machines, missiles, or metal. It is about protecting lives. It is about giving our soldiers the edge to come home safely. It is about ensuring that India’s borders are guarded by systems designed, developed, and delivered by Indians who believe in something greater than themselves.

      Imagine working on technologies that can track enemy drones in real-time, develop radar systems that scan the skies for threats, or build secure communication networks that operate even in the harshest conditions. Imagine the excitement of turning theoretical physics into battlefield-ready electronics, or algorithms into life-saving decisions. Every day brings a new challenge. Every breakthrough can shift the balance of national security.

      And then imagine the satisfaction—the unmatched pride—of knowing that your work helps protect a billion dreams. That because of your code, your circuit, your design, a threat was neutralized, a life was saved, a mission was accomplished.

      India needs not just soldiers in uniform, but scientists, engineers, developers, and thinkers who stand behind them. This is your chance to serve, to build, and to defend—not with a gun, but with a pen, a tool, a keyboard, and a vision.

      Join the mission. Be a part of the next generation of defence innovators. Because when you choose to work on technologies that secure our borders, you choose a life of purpose, excitement, and deep national pride Way ahead: Every conflict presents an opportunity to both learn and unlearn—to reassess existing practices, identify what proved effective, and recognize what fell short. This is the time to review, reflect, and address deficiencies with clarity and purpose. While certain systems and features performed as intended, others highlighted critical gaps. These insights are not setbacks but essential learnings that will strengthen future capabilities and drive more resilient, adaptive solutions. The lessons from Sindoor serve as both a validation and a roadmap. India is not just defending itself—it is building the future of defence, indigenously and intelligently. As former DRDO scientists, it gives us immense pride to have contributed to this meaningful and transformative journey.

      (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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