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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
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    India weathered Hormuz disruption without fuel shortages: Puri
    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
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    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
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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
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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.

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      Oppn raises Pahalgam attack, Trump's remarks, SIR in session eve meet; govt says open to discuss all issues as per rules

      July 20, 2025

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      New Delhi, Jul 20 (PTI) Government on Sunday indicated its willingness to discuss in Parliament Operation Sindoor, a key opposition demand at an all-party meeting on eve of the Monsoon session, even as the INDIA bloc insisted that Prime Minister Narendra Modi should respond on the matter as well as on the US President's 'ceasefire' claims and SIR in Bihar.

      Sources said the prime minister is unlikely to respond in Parliament on these issues. However, Parliamentary Affairs Minister Kiren Rijiju asserted that the government will reply appropriately whenever a discussion takes place on US President Donald Trump's ceasefire claims on the India-Pakistan conflict.

      After the customary all-party meeting ahead of the session beginning Monday, Rijiju said that the government has sought the opposition's cooperation in the smooth running of Parliament during the month-long session.

      There should be government-opposition coordination in running Parliament smoothly, Rijiju told reporters after the meeting chaired by Union Minister J P Nadda.

      He said they heard the opposition and ruling NDA alliance members patiently and hoped the upcoming session would be very productive.

      As many as 54 leaders of different parties and Independent MPs participated in today's all-party meeting.

      "We are very open to a discussion on important issues like Operation Sindoor. These are issues of great national importance. The government is not shying away and will never shy away, but is open to discussions within rules, conventions," Rijiju asserted.

      Noting that the government accords importance to 'niyam' (rules) and 'parampara' (conventions), he said the matters raised at the meeting would be taken up at the Business Advisory Committee of both houses, where a final decision would be taken.

      "We have noted all the points. We have requested all parties (to ensure) the Parliament functions properly. Have to ensure coordination. It is the responsibility of all to help Parliament function," he said.

      Rijiju also said that the government has noted the demand for allocation of more time to parties with fewer MPs to speak in Parliament. " "We will try and provide adequate time to all, including smaller parties," he said.

      On the opposition's demand for PM Modi to make a statement on the Pahalgam attack and other issues, Rijiju said, "I want to make it clear that the prime minister remains in Parliament except during foreign travel. The prime minister always remains in Parliament, but the prime minister does not remain in the House all the time.

      "Whenever Parliament functions, cabinet ministers are present to respond to issues concerning their departments." Rijiju said the government is bringing 17 key bills, details of which would be provided soon.

      Sources said even the BJP's allies want that there should be a discussion on Operation Sindoor to highlight the achievements of the government after delegations visited different nations.

      After the meeting, Congress leader Gaurav Gogoi told reporters that his party sought Prime Minister Modi's statement on Trump's claims, "lapses" which led to the Pahalgam attack and Special Intensive Revision (SIR) of poll rolls in Bihar.

      He said it was incumbent and moral responsibility of PM Modi to give a statement in Parliament on key issues raised by his party.

      "We hope that the PM will fulfil his moral duty," he said.

      Gogoi said questions have been raised on SIR and EC, and not giving answers will put a shadow of doubt on the fairness of the poll process and future elections.

      It is the prime minister's duty to clarify the government's stand in Parliament, he said.

      He also referred to several armed forces officers raising the issue of a two-pronged attack by China and Pakistan and sought a discussion. It is important to discuss defence and foreign policy and defence budget allocation, and the PM should answer on this, he said.

      Gogoi also sought a discussion on the Manipur situation, "where violence has not ended even after 2.5 years. The PM has visited several small countries but is avoiding going to the small state of Manipur", he said.

      Sanjay Singh of the Aam Aadmi Party (AAP) said he raised the alleged "poll scam" of SIR in Bihar. He also raised Trump's claim that he brokered a 'ceasefire' between India and Pakistan.

      Responding to a question, he said the INDIA bloc was only for the 2024 Lok Sabha polls, and the AAP is contesting assembly polls on its own ever since. AAP had stayed away from the online meeting of the opposition bloc on Saturday.

      JD(U) leader Sanjay Kumar Jha said his party believes that every citizen must have voting rights and has launched a campaign to raise awareness.

      "We have reports that people do not have any issue with this (Bihar SIR). If there is any issue, we will meet the Election Commission...," he said.

      Samajwadi Party's Ram Gopal Yadav said that Jammu and Kashmir Lt Governor's admission of intelligence failure in Pahalgam is a "serious issue". He said India has never allowed third-party mediation on Pakistan and claims by Trump need to be clarified by the government.

      "Our foreign policy is a complete failure... no country has supported India on Operation Sindoor. No muslim country was against us after the 1965, 1971 and Kargil wars, but now no country is with us. We never had such an unsuccessful foreign policy," he claimed.

      Yadav said that democracy "is in danger" in Bihar by the manner in which SIR is being carried out, as the EC or government don't have the right to deny voting rights to anyone. "But in Bihar, crores are being denied voting rights," he alleged.

      Supriya Sule of NCP-Sharad Pawar demanded that the prime minister respond in Parliament on the issues of Pahalgam attack, Operation Sindoor and Bihar's SIR.

      "Everyone will feel good if the prime minister speaks in Parliament on these issues," she said.

      BJD's Sasmit Patra said the Centre can't escape responsibility for the "failing" law and order in states and demanded a discussion in Parliament during the upcoming session.

      He was referring to an incident of self-immolation by a college student and another case of a 15-year-old being set on fire by a group of men in Odisha.

      Patra alleged there was a "complete collapse" of law and order in Odisha, and the BJP government there was "helpless" and had "failed".

      CPI(M)'s John Brittas said Prime Minister Modi should speak in Parliament on Trump's claims on Operation Sindoor and the Pahalgam terror attack.

      National Conference MP Altaaf Hussain said he raised issues of Jammu and Kashmir. "Post Pahalgam terrorist attack, the current situation of Jammu and Kashmir is not as it is being shown to the people of the country. I asked the government to ensure that innocent locals are not bothered." Gogoi, Jairam Ramesh, Pramod Tiwari of Congress, Supriya Sule of NCP-Sharad Pawar, DMK's T R Baalu and Tiruchi Siva, AIADMK's M Thambidurai, SAD's Harsimrat Badal, SP's Ram Gopal Yadav, RPI (A) leader and Union minister Ramdas Athawale were among those who attended the meeting. PTI PK/KR/SKC NAB RT RT

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