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    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
    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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    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
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    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
    Show AI Summary
    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
    Show AI Summary
    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
    Show AI Summary
    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
    Show AI Summary
    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
    Show AI Summary
    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
    Show AI Summary
    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
    Show AI Summary
    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
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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
    Show AI Summary
    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".

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      Celebrity Capital Meets EV Disruption: Suniel Shetty, KL Rahul, Ahan Shetty & Akshai Varde Join Forces to Launch Exelmoto

      June 27, 2025

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      Mumbai (Maharashtra) [India], June 26: The electric mobility revolution in India just got aspirational---and a whole lot faster, cleaner, and cooler. Founded by designer and Automative Entrepreneur, Akshai Varde, Exelmoto is backed by a strategic all-star founding team comprising actor-entrepreneur-mentor Suniel Shetty, cricket sensation KL Rahul, and youth icon Ahan Shetty---bringing together a rare mix of credibility, cool, and cross-generational influence.

      A rare founder-investor coalition blends star power with startup thinking to scale electric commuting across India's urban and semi-urban heartlands.

      Exelmoto today announced the start of its pre-order window from June 28 for a limited batch of 999 Ebikes, each available for booking at a token amount of Rs 499 on https://www.exelmoto.com .

      These are not traditional electric scooters---they are Ebikes, categorised as electric cycles equipped with pedal assist systems that allow riders to stay active while significantly reducing their carbon footprint, delivering one of the lowest costs per kilometre in the electric mobility segment.

      What sets them apart is their patented design---a unique blend of motorcycle-inspired styling with the agility and convenience of a cycle. Built using premium components and offering unmatched fit-and-finish, Exelmoto's Ebikes are proudly manufactured in India and are not just high on functionality---they're certified head-turners built for riders who want performance, style, and sustainability in one powerful ride.

      CELEBRITY-LED TRUST & COOL FACTOR: "Ride the Future" is not just a statement, it's Exelmoto's tagline---capturing the brand's vision to redefine how India rides.

      Suniel Shetty's association with Akshai goes back to when Akshai first designed a custom bike for Ahan's debut film Tadap and later redesigned some of Suniel's personal motorcycles that he still drives today.

      Over the years, Suniel witnessed firsthand Akshai's meticulous craftsmanship, innovative design philosophy, and unwavering commitment to excellence. This deep personal trust and understanding of Akshai's exceptional capabilities, combined with his two decades of industry experience and clear vision for sustainable mobility, led Suniel and his family to invest in Exelmoto.

      Speaking about Exelmoto, Suniel Shetty, entrepreneur and mentor, said, "I've watched Akshai create magic with metal and design over the years. When he shared his dream of clean, stylish mobility for India, I knew we had to be part of it. For the first time, I'm working with my sons, Ahan and KL Rahul, on a project, and it feels right that it's something focused on a cleaner future. Exelmoto represents more than just transportation; it's about reshaping how India moves forward. We believe caring for our environment should be effortless, stylish, and genuinely accessible to everyone. This is proudly made in India, designed for India, and it's something we're genuinely proud to be part of." KL Rahul, known for his focus on performance and discipline, added, "I believe in performance---on the field and on the road. And, I believe in products that blend purpose with performance. Exelmoto ticks all the boxes.With Exelmoto, we're giving India a reliable, stylish, and affordable ride built for our kind of hustle. This initiative aligns with what many Indians are looking for---smart, clean, and future-ready ways to move." Ahan Shetty, addressing younger consumers, said, "This is for my generation---bold, smart, and conscious of the planet. We're proud to be part of a brand that doesn't just follow trends but sets them---both in how it looks and what it stands for. I ride Exelmoto because it reflects who we are---innovative, fearless, and future-focused." Speaking about the company's vision, Akshai Varde, Founder and CEO of Exelmoto, said, "We designed Exelmoto to be a bridge between aspiration and accessibility. This isn't just an EV. It's a movement. Our goal is to make green commuting aspirational, affordable, and proudly Indian. With over two decades of experience in premium motorcycle design and manufacturing, I wanted to create an Ebike that delivers the thrill of a motorcycle, the freedom of a cycle, and the convenience of a mobile device. The result is a patented, precision-built product that's as beautiful to look at as it is powerful to ride. Engineered for India, backed by Indian icons, Suniel, KL Rahul & Ahan, and built to serve both cities and small towns---Exelmoto is how the future moves." WHAT MAKES EXELMOTO A CATEGORY BREAKER: Exelmoto's debut includes two unisex Ebikes---E1X Sky and E2R Rosso---designed with patented motorcycle-inspired frames, blending the build quality of a bike with the ease and accessibility of a cycle.

      Unlike standard e-scooters, these Ebikes feature pedal assist, allowing riders to stay fit while significantly reducing their carbon footprint. They offer the lowest cost per kilometer among electric two-wheelers in their category.

      Key highlights include: • Rugged fat-tyre styling with premium finish and street appeal • Removable, easy-charge lithium battery (home/office compatible)• 40--60 km range per charge • No registration or license required • Lightweight frame tailored to Indian road conditions • Designed for students, professionals, delivery riders, and families • Introductory price under ₹42,000 (post-pre-order phase) "Ready Before the World Catches On" -- Campaign Rollout Begins: The pre-booking kickstarted with a spectacular campaign that encapsulates the vision stating “Ready Before the World Catches On.” Ride the Future! The campaign highlights India's rising need for clean, smart, and stylish transport.

      Rooted in authenticity and driven by aspiration, The overarching campaign theme, “Catch Up. Or Better… Pre-Book”, showcases how Exelmoto isn’t waiting for the world to adapt. It’s already riding into the future—with India’s most relevant icons leading the way. It taps into the desire for status, speed, and sustainability, while being accessible and cross-generational.

      EXPANSION & ROADMAP: Beyond the pre-order campaign, Exelmoto will activate a robust, nationwide dealer distribution and service network—designed not just for reach, but for long-term rider confidence. This model reflects the brand’s commitment to building a future-ready EV ecosystem where accessibility meets accountability. By integrating seamless delivery with dependable after-sales support, Exelmoto aims to redefine ownership expectations in the electric mobility space and set new benchmarks for trust and service in the Ebike category.

      POST-ORDER ROADMAP: Following the pre-order campaign, Exelmoto will activate a nationwide dealer distribution and service network—designed not just for reach, but for long-term rider confidence. The company's roadmap includes expanding pre-order access, fulfilment, and local activations across Tier 1 and Tier 2 cities, including Mumbai, Delhi, Ahmedabad, Pune, Bengaluru, Jaipur, Kochi, Chennai, Nagpur, Lucknow Chandigarh, Indore and Hyderabad. Exelmoto will support this rollout with a combination of • Digital-first campaigns • Influencer-led storytelling • On-ground test ride experiences • City-wise community fan engagement PRE-ORDER DETAILS: • Pre-Booking Opens: June 28, 2025 • Pre-Order Fee: Rs 499 only • Units Available: 999 bikes • Booking Link: https://www.exelmoto.com • Models Available: E1X Sky & E2R Rosso • Features: License-Free | Registration-Free | Fat-Tyre Styling | Made in India ABOUT AKSHAI VARDE & EXELMOTO: With two decades in premium motorcycle design and manufacturing, Akshai Varde brings an award-winning legacy of innovation, engineering, and entrepreneurship to Exelmoto. At the heart of Exelmoto are patented Ebike designs that are as thrilling to ride as they are effortless to charge---as intuitive as a mobile device. Akshai's deep expertise in manufacturing and industry economics drives Exelmoto's vision to evolve into a global micro-mobility brand built in India, for the world. Exelmoto is headquartered in Mumbai.

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

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