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    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
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    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
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    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
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    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
    August 9, 2026
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
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    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
    Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
    August 8, 2026
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
    August 8, 2026
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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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
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    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    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
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    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
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    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.

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      India & Japan - A Shared Relationship Through Democracy, Higher Education and Commitment to a Sustainable Environment: JGU Vice Chancellor to speak at Japanese Parliament

      June 20, 2025

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      Tokyo, June 20, 2025: To strengthen the bilateral Higher Education Relationship and to enhance the democratic values shared by India and Japan, the Founding Vice Chancellor of O.P. Jindal Global University Prof. (Dr.) C. Raj Kumar will address the Japan Parliament – the Diet – on 24 June, 2025. This prominent and highly esteemed address to Japanese Parliamentarians aims to reinforce the democratic principles shared by the two countries and is also a celebration of India at 75 and how the country has accomplished its commitment to the principles it was founded upon.

      As part of the shared democratic agenda, the Vice Chancellor Dr. Raj Kumar and Indian delegates will visit the Japanese Parliament for a Dialogue with the Members of the National Diet of Japan. The visit will also feature a special Address by Dr. Abhishek M. Singhvi, Senior Advocate, Supreme Court of India and a Member of Parliament, on the theme: “India and Japan: Partners in Democracy, Drivers of Innovation, and Architects of a Sustainable Future”.

      Dr. Raj Kumar’s academic and intellectually high-profile visit involves an ambitious and extensive series of activities and events across Japan over the coming week. Accompanied by Senior Advocate of the Supreme Court of India Dr. Abhishek Manu Singhvi and a high-level delegation of academics and legal luminaries Dr. Raj Kumar aims to foster a long-term association with leading institutions, academics and public thought leaders to introduce reinforce the higher education relationship between the two countries.

      The 2nd India-Japan Higher Education Forum 2025 will be held today evening on 20th June, 2025 along with the Unveiling the Vision Statement of the Singhvi Centre for Constitutional, Parliamentary and Legal Studies at O. P Jindal Global University. The Education Forum will involve a Panel Discussion on Universities of the Future: Promoting Democracy, Dialogue, and Development in Asia and Beyond in Tokyo.” The Chief Guest will be His Excellency Mr. Sibi George, Ambassador of India to Japan and Guest of Honour will be Dr. Abhishek M. Singhvi, Senior Advocate, Supreme Court of India. Vice Chancellor Dr. C Raj Kumar will open the discussion with the panelists: Prof. Matthew J. Wilson, President and Dean, Temple University Japan Campus; Prof. Miki Sugimura, President Sophia University; Prof. Noriyuki Takahashi, Musashi University; Prof. Sawako Shirahase, Senior Vice Rector and Assistant Secretary General of United Nations, United Nations University; Prof. Yujin Yaguchi, Vice President, University of Tokyo; Prof. Maki Kunimatsu, Vice President, Chuo University and Hon’ble Mr. Justice Michael D. Wilson, Former Judge, Supreme Court of Hawaii, USA and Distinguish Prof. of Law at O. P Jindal Global University.

      Prof. (Dr.) C. Raj Kumar said, “There are three key themes to focus on with our Japanese counterparts: higher education collaborations and new partnerships, an insight into Indian democratic values and practices and a deep and incisive discourse on climate challenges facing our countries. India has been growing at a phenomenal pace and has recently emerged as the third largest economy in the world. We have had a long-standing and resilient relationship with Japan; with interactions and meetings for cooperation held regularly at the highest level of decision-makers across our country. This visit will further build on these foundations and bring together like-minded intellectuals, academics and professionals to enhance our cultural and educational relationship.” There will be multiple Memorandums of Understanding (MoUs) signed during the visit with leading Japanese Universities which include Asia University, Chuo University, Doshisha University, Osaka Gakuin University and Kansai University to name a few. These MoUs will enable student exchanges, research collaborations, academic partnerships and more.

      Later, as part of the UNU Conversation series on India and the World: Democracy, Development and Justice Dr. Abhishek M. Singhvi, and Dr. C Raj Kumar will address the United Nations University in Tokyo and they will be joined by Prof. (Dr.) Tshilidzi Marwala, Rector, United Nations University: Under-Secretary-General of the United Nations. This landmark event has been jointly organized by Singhvi Centre for Constitutional, Parliamentary & Legal Studies, at O.P. Jindal Global University.

      “India and Japan have had a farsighted socio-economic, political and cultural relationship. As a lawyer, I believe that we have a shared vision for the rule of law and the rights and duties of the individual citizens in a democracy. India has been independent for 75 years and the country has overcome many challenges and has remained true to its fundamental principles. It is a unique country with a diverse culture, geography and population with many languages, beliefs and communities. Yet, we have always found common ground towards development, growth and human upliftment and this has made the Indian democracy stronger and resilient,” Dr. Abhishek Manu Singhvi said.

      During the visit, Dr Raj. Kumar will also address students at Temple University Japan, Kyoto Campus for a lecture on India at 75: The Story of the World’s Largest Democracy in the presence of Prof. Matthew J. Wilson, President and Dean, Temple University Japan Campus.

      As part of the shared concerns around climate change and the environment by India and Japan, Dr. Raj Kumar will inaugurate the Japan-India Sustainability Conclave and Release of JGU’s Sustainability Development Report 2025. This will be followed by a Panel Discussion on The Role of Governance Framework in Supporting Biodiversity Conservation and Accelerating Green Innovation with a Special Address by Prof. (Dr.) Kensuke Fukushi, Director, Institute for Future Initiatives at the University of Tokyo.

      Other panelists are Prof. Atsushi Kota, Dean Graduate School of Asia-Pacific Studies Waseda University, Dr. Anupam Khajuria, Research Fellow and Academic Associate UNU-IAS, Prof. Masahiro Sugiyama, Institute for Future Initiatives, University of Tokyo and Prof. Shizuka Hashimoto, Graduate School of Agricultural and Life Sciences University of Tokyo.

      This will be followed by a seminar hosted by Kyoto University, Kiko Network and JGU on Lessons from Recent Climate Lawsuits in the United States and India: Implications for Japan in Kyoto; including a Lecture on Climate Litigation in the United States by Hon’ble Mr. Justice Michael D. Wilson, followed by a Lecture on Eco-Constitutionalism in India: Environment Rights, Judicial Activism, and the Role of Civil Society by Dr. C Raj Kumar and a discourse on Law Policy and the Planet: India’s Pathways to Achieving the SDGs by Dr. Abhishek M. Singhvi.

      The delegation also includes Hon’ble Mr. Justice Michael D. Wilson, Former Judge, Supreme Court of Hawaii, USA and Distinguished Professor of Law at O. P Jindal Global University Other members of the delegation will include Prof. R Padmanabhan, Dean Office of Academic Governance, JGU and Prof. (Dr.) Vesselin Popovski, Vice Dean and Executive Director Centre for the Study of the United Nations at JGU and Prof (Dr.) Akhil Bhardwaj, Vice Dean and Director Office of International Affairs and Global Initiatives.

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

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