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    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
    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
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    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
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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
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    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
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    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
    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
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    Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
    Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
    August 6, 2026
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    Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
    An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
    August 6, 2026
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    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
    Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.

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      HT Labs and The Doers Company Sign Strategic MoU to Strengthen India–Cyprus–UAE Innovation Corridor

      July 7, 2025

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      Mumbai, Maharashtra, India (NewsVoir) In a landmark move that signals bold ambitions for international expansion and cross-border innovation, HT Labs, the innovation and product arm of HT Media, has signed a strategic Memorandum of Understanding (MoU) with The Doers Company—organisers of Europe’s leading innovation events such as Reflect Festival and the upcoming Doers Summit.

      The MoU was formalised at a high-profile event hosted at Dubai Silicon Oasis (DSO) under the aegis of Dubai Integrated Economic Zones Authority (DIEZ), with participation from government dignitaries, investors, and tech leaders spanning India, Cyprus, and the UAE.

      The collaboration arrives at a pivotal moment of renewed global engagement, following Indian Prime Minister Narendra Modi’s visit to Cyprus and a subsequent delegation led by the Cypriot Deputy Minister of Research, Innovation & Digital Policy to Dubai. The delegation included top officials such as the Chief Scientist of Cyprus and key investors and business leaders from Europe and the Middle East—underscoring a powerful tri-nation vision to foster startup growth, capital flow, and entrepreneurial exchange across India, Cyprus, and the UAE.

      The alliance empowers HT Labs to leverage The Doers Company’s extensive European innovation ecosystem to accelerate the global journey of OTTplay—India’s first AI-powered OTT aggregator and recommendation engine. With Cyprus as a launchpad into Europe and Dubai Silicon Oasis as the testbed for cross-border digital infrastructure, media tech, and smart city initiatives, the MoU sets a dynamic framework for founder-investor collaboration, cross-border pilots, and community-led innovation.

      The Government of Cyprus, through its Ministry of Research, Innovation & Digital Policy, has extended strong support for the initiative, aligned with its vision of positioning Cyprus as a key entry point into Europe for Indian companies. With strategic geographic and political alignment, Cyprus aims to become a regional hub for cross-border investment, innovation, and talent.

      Commenting on the partnership, Demetris Skourides, Chief Scientist of Research, Innovation & Technology, Republic of Cyprus, remarked, “I would like to thank Mr. Avinash for his trust in our ecosystem and look forward to further profiling how Cyprus and other investors can benefit from bidirectional value creation. Such collaborations are the foundational pillars that build the future.” Badr Buhannad, Deputy Director General, Dubai Silicon Oasis, said, “Dubai Silicon Oasis was envisioned as a smart, future-ready hub for innovation, talent, and entrepreneurship. Hosting the Doers Summit in partnership with The Doers Company aligns perfectly with Dubai’s Economic Agenda D33 to position the city among the world’s leading digital and economic centres. The Summit reinforces our mission to attract forward-looking ventures and connect European and Middle Eastern innovators—accelerating cross-border collaboration in support of the UAE’s vision for digital economy growth and global competitiveness.” Avinash Mudaliar, Co-Founder & CEO, HT Labs, added, “At HT Labs, this isn’t just an expansion—it’s a strategic leap into the future. Dubai Silicon Oasis offers the ideal launchpad to take India’s most disruptive, AI-driven innovations to the world. At the core of our work is TaaS—Technology-as-a-Service—delivering scalable, AI-powered solutions across video, apps, web, and content systems that boost engagement, unlock new revenue, and enable global growth. With our strong focus on intelligent, tech-first solutions, we see immense potential to co-create platforms that resonate globally.

      What truly elevates this journey is the camaraderie we've built—especially with visionaries like Demetris Skourides, Chief Scientist of Cyprus. His insights and spirit of collaboration have made him not just a strategic ally, but a trusted friend in our cross-border mission.

      With OTTplay leading our media-tech push, we’re excited to align with DSO’s smart city vision and deliver transformative experiences in entertainment and data intelligence. This marks a defining chapter in building globally relevant platforms from India.” Also speaking on the occasion, Dusan Duffek, Co-Founder, The Doers Company & Managing Partner, Zero One Hundred, said “With a young, tech-savvy population and a booming innovation ecosystem, Indian startups such as OTTplay etc. offer some of the most exciting investment opportunities globally. Similarly, startups from Europe and the Middle East are now building some of the most consequential technologies, which will have an impact not only regionally, but globally. We believe now is the time to build bridges, not borders, and connect this energy with global capital and strategic partners.” Stylianos Lambrou, Co-Founder & CEO at The Doers Company, added “We see a significant opportunity in India. With our growing presence in Greece, Cyprus, and now Dubai, we’re uniquely positioned to bridge the gap, providing Indian startups & companies with access to Europe, and offering European startups and companies a pathway into India. The strong relationship between my country and India gives us a powerful advantage, enabling us to amplify our impact across both regions.” In the long term, the MoU establishes a multi-regional platform for sustained cooperation—facilitating deal flow, talent mobility, and co-development of cutting-edge digital solutions. It marks a new chapter in HT Labs’ global journey. The agreement also opens doors for internationalisation, driving investments into Indian startups like OTTplay —a significant milestone in the global journey of Indian innovation.

      HT Labs is the digital innovation hub and "startup factory" of HT Media, dedicated to creating cutting-edge digital products using research, deep tech, and AI. They focus on addressing consumer needs gaps by developing personalized, tech-driven experiences across various categories like entertainment, food, and finance. Key products include OTTplay, an AI-powered OTT recommendation engine and aggregator with 30+ OTTs in one app and access to over a million titles (movies, web series etc.) in a single subscription and Slurrp, a recipe aggregator, both recognized for their innovative approaches.

      About The Doers Company The Doers Company is a globally respected platform for connecting tech, business, and innovation leaders across Europe, MENA, and beyond. Through high-impact events such as Reflect Festival (Cyprus) and the upcoming Doers Summit (Dubai), Doers fosters a powerful cross-pollination of ideas, capital, and collaboration opportunities. The partnership with Dubai Silicon Oasis further strengthens their vision of creating an interlinked innovation corridor from the UAE to Europe.

      Website: www.thedoerscompany.com About OTTplay OTTplay is India’s first AI-powered OTT aggregator, offering personalised content discovery and bundled subscriptions to over 30 leading OTT platforms. With OTTplay Premium, users can enjoy an intelligently curated content experience tailored to their unique viewing preferences.

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

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