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    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
    DRI intensifies vigil along India's North-Eastern Frontier
    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”
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    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.
    August 7, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
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    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
    August 7, 2026
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    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
    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
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    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.
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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
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    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.

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      Nations react to US strikes on Iran with calls for diplomacy

      June 22, 2025

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      Dubai, Jun 22 (AP) The US strike on Iran fuelled fears that Israel's war with Tehran could escalate to a wider regional conflict, and other countries began reacting on Sunday with calls for diplomacy and words of caution.

      President Donald Trump had said Thursday that he would decide within two weeks whether to get involved. In the end, it took just days, and Washington inserted itself into Israel's campaign with its early Sunday attack.

      It remained unclear early on how much damage had been inflicted, but Iran had pledged to retaliate if the US joined the Israeli assault.

      Some have questioned whether a weakened Iran would capitulate or remain defiant and begin striking with allies at US targets scattered across the Gulf region.

      Here is a look at reactions from governments and officials around the world.

      Lebanon Lebanese President Joseph Aoun said the US bombing could lead to a regional conflict that no country could bear and called for negotiations.

      “Lebanon, its leadership, parties, and people, are aware today, more than ever before, that it has paid a heavy price for the wars that erupted on its land and in the region,” Aoun said in a statement on X.

      “It is unwilling to pay more, and there is no national interest in doing so, especially since the cost of these wars was and will be greater than its ability to bear.” Lebanon's new leadership, which came after Israel and the Hezbollah's militant group's devastating war, has urged that the country avoids being dragged into more conflict as it tries to rebuild itself and pull itself from years-long economic crisis.

      Hezbollah has not taken military action against Israel in solidarity with its key ally Iran in the conflict, but has not yet commented on Washington's overnight strikes.

      Prime Minister Nawaf Salam said that Lebanon needs to stay away from any possible regional spillover from the conflict.

      “It is increasingly important for us to adhere strictly to the supreme national interest, which is the need to avoid Lebanon being ... drawn into the ongoing regional confrontation in any way,” Salam said in a post on X.

      United Nations UN Secretary General Antonio Guterres said he was “gravely alarmed” by the use of force by the United States.

      “There is a growing risk that this conflict could rapidly get out of control – with catastrophic consequences for civilians, the region, and the world,” he said in a statement on the social media platform X. “I call on Member States to de-escalate.” “There is no military solution. The only path forward is diplomacy.” United Kingdom British Prime Minister Keir Starmer called for Iran to return to the negotiating table to diplomatically end the crisis, saying stability was the priority in the volatile region.

      The UK, along with the European Union, France and Germany, tried unsuccessfully to broker a diplomatic solution in Geneva last week with Iran.

      Starmer said Iran's nuclear programme posed a grave threat to global security.

      “Iran can never be allowed to develop a nuclear weapon and the US has taken action to alleviate that threat," Starmer said.

      New Zealand New Zealand Foreign Minister Winston Peters urged “all parties to return to talks”.

      He wouldn't tell reporters Sunday whether New Zealand supported President Trump's actions, saying they had only just happened.

      The three-time foreign minister said the crisis is “the most serious I've ever dealt with" and that it was “critical further escalation is avoided”.

      “Diplomacy will deliver a more enduring resolution than further military action,” he said.

      Hamas and the Houthis Both the Houthi rebels in Yemen and Hamas have condemned the US strikes. The Houthis vowed to support Iran in its fight against “the Zionist and American aggression”.

      In a statement on Sunday, the Houthi political bureau called on Muslim nations to join “the Jihad and resistance option as one front against the Zionist-American arrogance”.

      Hamas and the Houthis are part of Iran's so-called “Axis of Resistance”, the collection of pro-Iranian proxies stretching from Yemen to Lebanon that for years gave Iran considerable power across the region.

      China A flash commentary from China's government-run media asked whether the US is "repeating its Iraq mistake in Iran”.

      The online piece by CGTN, the foreign-language arm of the state broadcaster, said the US strikes mark a dangerous turning point.

      “History has repeatedly shown that military interventions in the Middle East often produce unintended consequences, including prolonged conflicts and regional destabilisation,” it said, citing the American invasion of Iraq in 2003.

      It said a measured, diplomatic approach that prioritises dialogue over military confrontation offers the best hope for stability in the Middle East.

      South Korea South Korea's presidential office held an emergency meeting on Sunday to discuss the potential security and economic ramifications of the US strikes.

      National security director, Wi Sung-lac, asked officials to coordinate closely to minimise any negative impacts on South Korea, emphasising that the top priority is ensuring the safety of the South Korean people and the continuation of their stable daily lives, according to the presidential office.

      Japan Prime Minister Shigeru Ishiba told reporters Sunday it was crucial to calm the situation as soon as possible, adding that the Iranian nuclear weapons development also must be prevented.

      Ishiba, asked if he supports the US attacks on Iran, declined to comment. He was speaking to reporters after an emergency meeting with officials from key ministries over the US military action.

      Ishiba said officials are still assessing details and doing their utmost to protect the safety of the Japanese nationals in Iran, Israel and elsewhere in the region.

      While the US attacks on Iran do not affect Japan's stable energy supply for the time being, Ishiba said, he has instructed officials to “watch the development with a sense of urgency and take every precaution” to prevent an increase in oil and utility costs ahead of the summer when energy demand rises.

      Any conflict in the Middle East is a concern for resource-scarce Japan, most of whose oil imports come from the region.

      Meanwhile, Japan's largest-circulation newspaper Yomiuri has distributed an extra edition on the attack in Tokyo.

      Australia Australia, which shuttered its embassy in Tehran and evacuated staff Friday, pushed for a diplomatic end to the conflict.

      “We have been clear that Iran's nuclear and ballistic missile programme has been a threat to international peace and security,” a government official said in a written statement. “We note the US President's statement that now is the time for peace.” “The security situation in the region is highly volatile. We continue to call for de-escalation, dialogue and diplomacy.” (AP) PY PY

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