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    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
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
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    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.
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    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
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    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.
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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.
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    Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
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    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
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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.
    August 6, 2026
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    Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
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    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
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    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.

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      Trade unions' strike is opposing Modi govt's 'anti-worker, anti-farmer' policies: Surjewala

      July 9, 2025

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      Bengaluru, Jul 9 (PTI) AICC General Secretary Randeep Singh Surjewala on Wednesday said that the nationwide strike called by 10 central trade unions, with the backing of over 25 crore workers and farmers, is aimed at opposing the Modi government's alleged anti-worker and anti-farmer policies.

      Urging the BJP-led government at the centre to open their eyes and see the problems faced by the people, he accused it of shutting down development, taking away jobs, and creating economic unrest in the country.

      "The BJP government has failed to provide adequate employment, with over 30 lakh vacancies lying unfilled across various departments of the Government of India and Public Sector Undertakings (PSUs). For instance, the armed forces have around 1.55 lakh vacancies. The Railway has more than 2.5 lakh vacant positions. The Central Armed Police Forces (CAPF), including CRPF, BSF, and ITBP, have over 85,000 vacancies," Surjewala said.

      "Why is the Government of India refusing to fill these 30 lakh vacancies, despite the rising unemployment and the urgent need for public service personnel?" he asked, speaking to reporters here.

      Noting that unemployment in India has reached alarming levels, with the current rate at 7.5 percent, according to the Centre for Monitoring Indian Economy (CMIE), the Congress leader said, this marks the highest unemployment rate in 45 years.

      "Despite this crisis, the government has failed to take effective action. Trade unions are staging protests in a desperate attempt to draw Prime Minister Modi's attention to the growing joblessness and the government's inaction," he added.

      Surjewala pointed out that wealth inequality in India is worsening as the rich are getting richer while the poor continue to suffer.

      "India now ranks as the 50th poorest country in the world by per capita GDP, with an average of just USD 2,900 (approx. Rs 2.42 lakh) lower than countries like Bangladesh, Cambodia, Kenya, and even Haiti. In comparison, the global average per capita income is around USD 13,000 (approx. Rs 0.85 lakh), clearly showing how far India has fallen behind under the current government," he said.

      Highlighting that 7 crore people have lost their right to work under the BJP's mismanagement of the MGNREGA scheme, Surjewala alleged that even though the scheme is meant to provide a safety net for the poorest, it is being used as a tool of exclusion.

      "Aadhaar-MGNREGA Card linking denied 7 crore registered workers their rightful wages and employment. The average workdays per household dropped from 52.08 to just 44.62," he said.

      The MGNREGA budget for the year stagnated at Rs 86,000 crore, even with a Rs 9,754 crore deficit carried from the previous fiscal. While Congress guaranteed and had implemented 100 days of work, the BJP has slashed it to just 45, a move trade unions are fiercely opposing," he said.

      Surjewala listed out that India today ranks 111th out of 125 countries in the 2023 Global Hunger Index, 134th out of 193 on the UNDP's Human Development Index (2022), 127th out of 146 in the Global Gender Gap Index 2023 by the World Economic Forum, 121st out of 173 in the global Quality of Life Index, 159th out of 180 in the 2024 World Press Freedom Index by Reporters Without Borders "That's why trade unions are on strike," he said.

      Claiming that the economy is in huge distress today, the Congress General Secretary said, there is a huge drop in sales of motorcycles and scooters, drop in the sale of fast moving consumer goods, textile Sector has witnessed an unprecedented crisis as the textile industry reported production drop of over 30 percent, also there is a crisis in the real estate sector.

      The FICCI and Quess Corp wage survey reveals a severe wage squeeze with nominal wage increases ranging from just 0.8 to 5 percent, while the inflation rate is 5.7 percent, he said, "In such a scenario, where are the middle and poor classes supposed to go, when their incomes can't even keep up with the rising cost of living?" India's workforce is in a precarious state, with 80 percent employed in the unorganised sector, 60 percent working without a written contract, and 53 percent lacking any form of social security, he further said, adding that "This reflects a deepening structural crisis a ticking time bomb that threatens the livelihoods and dignity of millions across the country." PTI KSU ADB

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