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    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
    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
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    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
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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
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Democrats see Trump's big bill as key to their comeback. It may not be so easy

      July 4, 2025

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      Windsor Heights (US), Jul 4 (AP) It is big and it is beautiful, says President Donald Trump.

      But for many Democratic leaders, the tax break and spending cut package adopted by Trump's Republican allies in Congress Thursday represents the key to the Democratic Party's resurgence.

      Even before the final vote was tallied, Democratic officials were finalising ambitious plans for rallies, voter registration drives, attack ads, bus tours and even a multiday vigil — all designed to highlight the most controversial elements of Trump's “big beautiful” bill: the deep cuts to the nation's safety net that will leave nearly 12 million more Americans without health coverage and millions of others without food assistance, according to the nonpartisan Congressional Budget Office.

      Indeed, in political battlegrounds across Alaska and Iowa, Pennsylvania and California, Democrats have already begun to use Trump's bill to bludgeon their Republican rivals. Democrats are promising that the package — Trump's biggest domestic policy achievement to date — will be the defining issue of every major election between now and next fall's high-stakes midterms.

      “One thing is abundantly clear: Republicans own this mess and it's an albatross around their necks heading into the midterms,” Democratic National Committee Chair Ken Martin told The Associated Press.

      “This is the least popular legislation in modern history, and the more voters learn about it, the more they hate it. That's a clear directive for Democrats -- we're going to make sure every single voter knows who is responsible.” Even with early public opinion on their side, however, it's far from certain that the Republican budget bill will be the political winner Democrats hope.

      The Democratic brand remains deeply unpopular, the party has no clear leader, its message is muddled and core elements of the Democratic base are frustrated and drifting. Some of the bill's changes won't take effect until after the 2026 midterms, so voters may not have felt the full impact by the time they vote.

      At the same time, it's unclear how many voters are paying attention to the Washington-based debate.

      The Democratic super PAC Priorities USA warned this week that Democrats must work harder if they want their message to break through the polarised media environment.

      “We can't just assume that because we're angry that the voters that we need to communicate with are angry. Everyone needs to step up and realise the enormous challenge that's in front of us,” Executive Director Danielle Butterfield said. “We're nowhere near a good starting place.” At its core, the bill's priority is USD 4.5 trillion in tax breaks enacted in Trump's first term that would expire if Congress failed to act, along with new ones. This includes allowing workers to deduct tips and overtime pay.

      The package includes USD 1.2 trillion in cutbacks to Medicaid and food stamps and a massive rollback of green energy investments. The nonpartisan Congressional Budget Office estimates the package will add USD 3.3 trillion to the deficit over the decade.

      Democrats in Congress were united against the bill, and even some Republicans expressed concerns. But ultimately, Trump persuaded the conservative holdouts to fall in line.

      Democrats' challenge on display Privately, some Democrats conceded that Republicans were smart to pass the bill on the eve of a holiday weekend when fewer voters would be paying attention.

      And as some Democrats in Washington predicted a fierce political backlash across America, the response was somewhat muted Thursday at a Democratic event in Iowa, barely 10 miles from the Iowa State Fairgrounds where Trump later drew thousands for an evening rally.

      An audience of roughly 100 people listened as local Democratic officials railed against the legislation and called on voters to oust Republican Rep. Zach Nunn, the local congressman, for supporting it.

      Audience member Michael Rieck, 69, said Iowa Democrats left him a message about the rally, but when he went online to learn more, “there was nothing”.

      “I texted back to them that I didn't see any advertisement,” he said. “They slowly corrected that. I'm still not impressed with what they did to advertise this event.” Rieck said he wants to see different factions of the party better coordinate their message.

      Meanwhile, progressive activists were moving through Minnesota in a big green bus as part of Fair Share America's 29-stop “stop the billionaire giveaway” tour. The group is focused on Republican-led congressional districts where elected officials have largely stopped having in-person town halls with constituents.

      Fair Share Executive Director Kristen Crowell said the crowds, even some Trump supporters, have been receptive.

      Still, she acknowledged many people don't know what's in the bill.

      “We know we're fighting upstream,” she said. “But when people hear exactly what's in this bill, they're adamantly opposed. I mean, I can tell you, in 17 stops, I've not had one person come up to me and say, You are on the wrong side of this.'” What the polls say The GOP's bill is generally unpopular, according to polling conducted throughout the month of June, although some individual provisions are popular.

      For example, a Washington Post/Ipsos poll found that majorities of US adults support increasing the annual child tax credit and eliminating taxes on earnings from tips, and about half support work requirements for some adults who receive Medicaid.

      On the other hand, the poll found that majorities oppose reducing federal funding for food assistance to low-income families and spending about USD 45 billion to build and maintain migrant detention centers.

      The price tag could be a sticking point. About 6 in 10 US adults in the poll said it was “unacceptable” that the bill is expected to increase the US national debt, currently at USD 36 trillion, by about USD 3 trillion over the next decade.

      But polling indicates that most Americans aren't paying attention to the nuances of the bill, either.

      The Washington Post/Ipsos poll found that only about one-third of US adults have heard “a great deal” or “a good amount” about it.

      Democrats are planning a summer of organising The Democratic National Committee and its allies plan an “organising summer” that will feature town halls, training and voter registration drives in at least 35 competitive congressional districts. The message will be focused heavily on Trump's bill.

      Democratic groups also are expected to unveil a new round of digital attack ads targeting vulnerable Republicans in the coming days.

      Kansas Gov. Laura Kelly, who leads the Democratic Governors Association, said her party must keep the bill's contents at the forefront of people's minds to ensure it's an issue in the 2026 midterm elections — and even the next presidential election in 2028.

      “We'll just have to keep that on the radar,” she said.

      Meanwhile, progressive groups are planning a “Family First” day of action for July 26 in all 50 states. They'll highlight vulnerable Americans hurt by the new Medicaid cuts and hold a 60-hour vigil at the US Capitol.

      “Because people call Medicaid something different in every state, a lot of people didn't realise — until this very moment — that their health care was at stake,” said one of the Family First organizers, Ai-jen Poo, president of the National Domestic Workers Alliance.

      “We have made a promise to each other and to future generations that there will be a safety net in place when we need it. And this is what's being ripped away. And people will not stand for it." (AP) PY PY

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