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    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
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    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Trump is open to regime change in Iran, after his admin said that wasn't goal

      June 23, 2025

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      Washington, Jun 22 (AP) The Trump administration on Sunday sent a series of conflicting messages to Iran — with US officials initially indicating a willingness to resume negotiations after a surprise attack on three of the country's nuclear sites and President Donald Trump talking up the possibility of regime change.

      “It's not politically correct to use the term, 'Regime Change', but if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn't there be a Regime change???” Trump posted on social media. “MIGA!!!" The posting on Truth Social marked something of a reversal from Defence Secretary Pete Hegseth's Sunday morning news conference that detailed the aerial bombing.

      “This mission was not and has not been about regime change,” Hegseth said.

      The Trump administration has made a series of intimidating statements even as it has simultaneously called to restart negotiations, making it hard to get a complete read on whether the US president is simply taunting an adversary or using inflammatory words that could further widen the war between Israel and Iran.

      Up until the US president's post on Sunday afternoon, the coordinated messaging by Trump's vice president, Pentagon chief, top military adviser and secretary of state suggested a confidence that any fallout would be manageable and that Iran's lack of military capabilities would ultimately force it back to the bargaining table.

      Hegseth had said that America “does not seek war” with Iran, while Vice President JD Vance said the strikes have given Tehran the possibility of returning to negotiate with Washington.

      But the unfolding situation is not entirely under Washington's control, as Tehran has a series of levers to respond to the aerial bombings that could intensify the conflict in the Middle East with possible global repercussions.

      Iran can block oil being shipped through the Strait of Hormuz, attack US bases in the region, engage in cyber attacks or double down on a nuclear programme that might seem like more of a necessity after the US strike.

      All of that raises the question of whether the strikes will open up a far more brutal phase of fighting or revive negotiations out of an abundance of caution. Inside the US, the attack quickly spilled over into domestic politics with Trump choosing to spend part of his Sunday going after his critics in Congress.

      Trump, who had addressed the nation from the White House on Saturday night, returned to social media on Sunday to lambaste Rep Thomas Massie, who had objected to the president taking military action without specific congressional approval.

      “We had a spectacular military success yesterday, taking the bomb right out of their hands (and they would use it if they could!)” Trump said as part of the post on Truth Social.

      At their joint Pentagon briefing, Hegseth and Air Force Gen Dan Caine, chairman of the Joint Chiefs of Staff, said that “Operation Midnight Hammer" involved decoys and deception, and met with no Iranian resistance.

      Caine indicated that the goal of the operation — destroying nuclear sites in Fordo, Natanz and Isfahan — had been achieved.

      “Final battle damage will take some time, but initial battle damage assessments indicate that all three sites sustained extremely severe damage and destruction,” Caine said.

      Vance said in a television interview that while he would not discuss “sensitive intelligence about what we've seen on the ground,” he felt “very confident that we've substantially delayed their development of a nuclear weapon.” Pressed further, he told NBC's “Meet the Press” that “I think that we have really pushed their program back by a very long time. I think that it's going to be many many years before the Iranians are able to develop a nuclear weapon.” The vice president said the US had “negotiated aggressively' with Iran to try to find a peaceful settlement and that Trump made his decision after assessing the Iranians were not acting “in good faith.” "I actually think it provides an opportunity to reset this relationship, reset these negotiations and get us in a place where Iran can decide not to be a threat to its neighbours, not to be a threat to the United States, and if they're willing to do that, the United States is all ears,” Vance said.

      Secretary of State Marco Rubio said on CBS's “Face the Nation” that "there are no planned military operations right now against Iran, unless, unless they mess around and they attack" US interests.

      Trump has previously threatened other countries, but often backed down or failed to follow through, given his promises to his coalition of voters not to entangle the United States in an extended war. It was not immediately clear whether Iran saw the avoidance of a wider conflict as in its best interests.

      Much of the world is absorbing the consequences of the strikes and the risk that they could lead to more fighting across the Middle East after the US inserted itself into the war between Israel and Iran.

      Israeli airstrikes that began on June 13 local time targeted Iran's nuclear facilities and generals, prompting retaliation from Iran and creating a series of events that contributed to the US attack.

      While US officials urged caution and stressed that only nuclear sites were targeted by Washington, Iran criticised the actions as a violation of its sovereignty and international law.

      Iran's foreign minister, Abbas Araghchi, said Washington was “fully responsible” for whatever actions Tehran may take in response.

      “They crossed a very big red line by attacking nuclear facilities," he said at a news conference in Turkey. “I don't know how much room is left for diplomacy.” China and Russia, where Araghchi was heading for talks with President Vladimir Putin, condemned the US military action. The attacks were “a gross violation of international law,” said Russia's Foreign Ministry, which also advocated “returning the situation to a political and diplomatic course.” A Turkish Foreign Ministry statement warned about the risk of the conflict spreading to “a global level”.

      British Prime Minister Keir Starmer said the United Kingdom was moving military equipment into the area to protect its interests, people and allies. His office said he talked on Sunday with Trump about the need for Tehran to resume negotiations, but Trump would have posted his remarks about regime change after their conversation.

      The leaders of Italy, Canada, Germany and France agreed on the need for “a rapid resumption of negotiations.” France's Emmanuel Macron held talks with the Saudi crown prince and sultan of Oman.

      Iran could try to stop oil exports through the Strait of Hormuz, which could create the same kind of inflationary shocks that the world felt after Russia invaded Ukraine in 2022. Oil prices increased in the financial markets as the war between Israel and Iran had intensified, climbing by 21% over the past month.

      The Pentagon briefing did not provide any new details about Iran's nuclear capabilities. Hegseth said the timeline for the strikes was the result of a schedule set by Trump for talks with Iran about its nuclear ambitions.

      “Iran found out" that when Trump "says 60 days that he seeks peace and negotiation, he means 60 days of peace and negotiation," Hegseth said. "Otherwise, that nuclear programme, that new nuclear capability will not exist. He meant it.” That statement was complicated as the White House had suggested last Thursday that Trump could take as much as two weeks to determine whether to strike Iran or continue to pursue negotiations. But the US benefited from Iran's weakened air defences and was able to conduct the attacks without resistance from Iran.

      “Iran's fighters did not fly, and it appears that Iran's surface to air missile systems did not see us throughout the mission," Caine said.

      Hegseth said that a choice to move a number of B-2 bombers from their base in Missouri earlier Saturday was meant to be a decoy to throw off Iranians. Caine added that the US used other methods of deception as well, deploying fighters to protect the B-2 bombers that dropped a total of 14 bunker-buster bombs on Iran's sites at Fordo and Natanz.

      The strikes occurred Saturday between 6:40 pm and 7:05 pm in Washington, or roughly 2:10 am on Sunday in Iran. (AP) SCY SCY

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