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    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
    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
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    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.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.
    August 7, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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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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