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    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
    Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India'
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    Rupee settles with 5 paise gain at 95.17 against US dollar
    India weathered Hormuz disruption without fuel shortages: Puri
    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
    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
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    August 9, 2026
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
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    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
    Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
    August 8, 2026
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
    August 8, 2026
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
    Show AI Summary
    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
    Show AI Summary
    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
    Show AI Summary
    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
    Show AI Summary
    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
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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.

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      From SuperCoins to Super Speed: Flipkart's GOAT Sale Powers India's Next Shopping Wave: Begins 12th July

      July 11, 2025

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      Bengaluru, Karnataka, India (NewsVoir) • GOAT Sale goes live from July 12–17, featuring blockbuster deals across categories including electronics, smartphones, home appliances, BGM, Home essentials, Fashion, Home Decor, Minutes, and Grocery • Customers can access deals across categories with Buy One Get One (BOGO), flash sales, and bundle deals; in addition to 10% instant bank deals, SuperCoins earnings, and flexible no-cost EMI options from leading brands • Experience new shopping formats with creator-led live commerce, flash drops, and gamified deals • Shopping festivals like Flipkart’s GOAT Sale provide lakhs of sellers, from both metros and smaller towns, an opportunity to connect with millions of customers across India • Customers can expect 1-day metro delivery, video demos, and a dedicated support line to ensure a seamless post-purchase experience Flipkart, India’s homegrown e-commerce marketplace, today announced the return of its highly anticipated GOAT (Greatest of All Time) Sale, scheduled to run from July 12 to 17, 2025. Flipkart Plus members will receive early access starting July 11. Designed to deliver unmatched value and convenience, the sale brings exciting deals, enhanced exchange options, and extensive bank offers - with no paid memberships required. On July 11, Flipkart will roll out category-specific access passes and ‘Early Bird’ deals for high-demand segments like smartphones, large appliances, and fashion. Flipkart Plus members will also get access to great deals, reward multipliers, and early access to special offers. Customers can maximise savings through SuperCoins, prepaid/UPI bonuses, and up to 10% instant deals via partner banks, including Axis Bank, HDFC Bank, and IDFC First Bank, with flexible EMI options.

      Pratik Shetty, Senior Director, Marketing and Media at Flipkart, said, “The GOAT Sale 2025 reflects Flipkart’s customer-first mindset - delivering smart, affordable, and personalized shopping at scale. With innovations like live commerce, voice search, and seamless exchange, we’re simplifying discovery and decision-making across categories. This edition offers our widest selection yet, backed by curated deals like the GOAT Top 50, no-cost EMIs, SuperCoins offers, and expanded bank offers. We’re also rolling out several firsts: from hyperlocal delivery and creator-led formats to gamified experiences that deepen engagement. At its core, GOAT 2025 is more than a sale - it’s a strategic moment connecting millions of shoppers with MSMEs, emerging brands, and regional sellers. It’s built for how India shops today - and where it’s headed next.” Flipkart is also connecting with people across India through an interesting ‘Flippin Amazin’ campaign, which uses humour and tech to create a disruptive, consumer-first experience that reimagines the shopping journey. Central to this campaign is a WhatsApp chatbot that enables customers to connect with Flipkart to access the best shopping deals.

      What can customers expect from the GOAT 2025 sale? Innovation-led, enhanced on-app experience This year’s GOAT Sale is centered around making shopping smarter, faster, and more personalized: • Deals on Live Commerce & Video Demos: Flipkart elevates shopping with video-led demos, creator showcases, and live commerce. Several creators will spotlight real-time picks across lifestyle, electronics, and beauty—offering great deals and limited-time drops. Daily live sessions during the sale intrigue period are already driving early excitement and engagement.

      1. 7 hours of live interactions daily are keeping users engaged and informed during the intrigue period 2. Notably, 90% of users who joined live sessions revisited the same category, showing strong interest and conversion potential.

      • Gamified Offers: 1. Tick Tock Deals (hourly flash deals) 2. Coupon Unlocks and Treasure Hunts on the app • Curated Discovery: The GOAT Top 50, a special list of trending and top-rated products • Seamless Fulfilment: 1. 1-day metro delivery 2. 10-minute delivery via Flipkart Minutes 3. Video assistance and a dedicated support line for post-purchase care • Flipkart Plus Silver Challenge: There is a chance for customers to earn rewards with the Plus Silver Challenge. Simply tap “Participate Now,” visit the Plus GOAT page to earn 5 SuperCoins, and complete a quick quiz for 5 more—unlocking guaranteed SuperCoins in just a few easy steps.

      Great deals across every category • Smartphones and Gadgets: Grab top offers (up to 50%) and new launches from Samsung, Apple, Vivo, Realme, Motorola, and more—with added benefits like no-cost EMI and exchange deals.

      • Electronics and two wheelers: Upgrade your digital lifestyle with deals on top tech brands like Apple, CMF by Nothing, Samsung, boAt, and Redmi. Save big on products like HP 15s i3, Samsung Galaxy Book 4 i3, Asus Vivobook i3, Apple iPad 2025 A16, Redmi Pad SE 8 GB / 128 GB, OnePlus Pad Go, Sony PS5 Digital Console, Metashot, and Hero Xtreme 125R. Great tech, great value.

      • Home Appliances: Enjoy top deals on smart TVs, refrigerators, washing machines, ACs, and more from Samsung, Prestige, LG, TCL & SONY. Over 50% of the selection features special pricing, with 3/6/9-month no-cost EMIs on most products. Access easy exchange on premium appliances and unbeatable prices on new launches, making high-end upgrades more accessible than ever.

      • BGM (Beauty, Grooming & Wellness): Get the best offers on skincare, haircare, and wellness picks—from cult K-beauty brands and other premium brands.

      • Home Essentials: Up to 70% off on kitchenware, cleaning tools, and organizers from Pigeon, Mortein, and more—everyday utility, GOAT prices.

      • Grocery: New users can avail ₹400 off, structured as ₹100 off on each of their first 4 grocery transactions, and avail bank offers (Valid till July 17) such as: 1. Axis Bank Credit Cards (EMI and Non-EMI Transactions), Flipkart Axis Bank Credit Card EMI Transactions and IDFC First Bank (Credit Card Non-EMI and EMI Transactions, and Debit Cards): • ₹200 off on a minimum transaction of ₹2,000 • Flipkart Minutes: Midnight Drop Sale: A special 12 AM to 2 AM sale window is being planned on Flipkart Minutes. All mobile and electronic deals will be available during this slot. GOAT Sale products, especially mobiles, will be delivered within 10 minutes, showcasing the platform’s instant delivery capabilities • Fashion Bonanza: Enjoy Buy one get one (BOGO) deals, mega clearance deals, and fresh arrivals for men, women, and kids from brands like PUMA, USPA, LEVI'S, Casio, HRX & more.

      • Furniture and Home Decor: Style your home with smart deals on sofas, beds, dining sets, and décor from top brands like Raymond Home, Wakefit, and more. Best-in-season picks at prices that fit your space and budget.

      Exciting launches from top brands • Electronics: Check out the latest drops—new audio gear from Mivi, Govo, Nothing, OnePlus, Sony, plus the Sony PlayStation Portal, Fire-Boltt Smart Glass, and upcoming OnePlus Pad 3. Also, explore new laptops from Acer, Asus, HP, Motorola, and MSI. July’s packed with top tech upgrades! • Home Appliances: Experience brilliance with TCL’s Mini LED TVs, blazing 4K with Xiaomi Fire TVs, and AI-powered immersion with Samsung Vision AI QLEDs. Plus, explore MI’s 55” QLED, Whirlpool & Voltas Beko washers, Haier floral-glass fridges, Acer & Sharp ACs, and smart kitchen picks from Prestige and Kenstar- all packed with premium features at great value.

      Affordability Options at Scale • Up to 10% instant deals from Axis Bank, HDFC Bank, IDFC First Bank, and more • No-cost EMIs, UPI offers, and bundled exchange deals • Additional Flipkart Axis Bank Credit Card benefits • ‘Flipkart Plus’ now gives you early access to major shopping events, surprise post-order treats, and extra 10% off using SuperCoins on bestsellers • SuperCoins, Flipkart’s rewards currency offers great savings on every purchase and shopping privileges that enable customers to shop smarter. Additionally, get 2% off on Flipkart Gift Cards when you pay with Flipkart UPI, debit or credit card.

      Powering Bharat’s E-commerce Growth During Flipkart’s GOAT Sale, lakhs of sellers, from both metros and smaller towns, are expected to see a surge in visibility and engagement. These shopping festivals not only drive demand but also equip local MSMEs, artisans, and regional brands while making selling at scale simpler and more sustainable.

      How Customers Can Prepare: • Wishlist top picks in advance for easy access • Activate Flipkart Plus membership for early entry • Check bank offers and ensure payment methods are linked • Look out for hourly flash deals, limited drops, and extra savings through SuperCoins • Trade in old gadgets and appliances for maximum exchange value Flipkart invites customers from across India to experience the most comprehensive, accessible, and rewarding shopping event of the year. The GOAT Sale is not just a sale; it’s a commitment to India’s shoppers, sellers, and digital economy.

      About the Flipkart Group The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Cleartrip, and super.money.

      Established in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India's digital commerce revolution. With a registered user base of more than 500 million, Flipkart's marketplace offers over 150 million products across 80+ categories. Today, there are over 1.4 million sellers on the platform, including Shopsy sellers. With a focus on empowering and delighting every Indian by delivering value through technology and innovation, Flipkart has created thousands of jobs in the ecosystem while empowering generations of entrepreneurs and MSMEs. Flipkart has pioneered services such as Cash on Delivery, No Cost EMI, Easy Returns, and UPI. These customer-centric innovations focus on enhancing digital payment offerings for all customers while making online shopping more accessible and affordable for millions of Indians.

      For more information, please write to [email protected].

      (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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