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    Rupee falls 8 paise to 95.25 against US dollar in early trade
    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
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    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
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    August 10, 2026
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    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
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    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
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    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
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    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
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    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
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    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
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    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
    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
    Show AI Summary
    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
    Show AI Summary
    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
    August 8, 2026
    Show AI Summary
    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
    Show AI Summary
    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.

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      Hong Kong Throws City-Wide First Birthday Party for its Much-Loved Panda Twins

      July 28, 2025

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      Twin Influencers from Around the World send Birthday Wishes, LABUBU x Panda Twins Lucky Draw Sparks Joy and Tourist Spots get a Panda Makeover Hong Kong (NewsVoir) Celebrations will break out across Hong Kong on 15 August as the city marks the first birthday of the city’s much-loved giant panda twins —big sister Jia Jia and little brother De De. The Culture, Sports and Tourism Bureau (CSTB) continues to lead the Hong Kong Tourism Board (HKTB) in rolling out a series of promotions to coincide with the celebrations and transform Hong Kong into one giant birthday party. The HKTB has enlisted a roster of global friends, including famous twin influencers and the iconic LABUBU and its creator, Kasing Lung, to shower the pandas with birthday wishes from around the world. In an exclusive collaboration with Kasing Lung, the HKTB has created a Panda Twins birthday special edition of LABUBU that visitors to Ocean Park Hong Kong (Ocean Park) can win throughout August.

      Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui said, “Thanks to the meticulous care of the Mainland giant panda experts and the Ocean Park’s animal care team, the Hong Kong–born panda cubs, Jia Jia and De De, have grown exponentially. They have brought joy to the public and sparked a citywide panda craze. I sincerely invite everyone in Hong Kong and visitors from around the world to celebrate the one-year-old birthday of Jia Jia and De De. I would also like to thank Mr Kasing Lung, a Hong Kong artist, for designing a special edition of LABUBU to commemorate the first birthday of the twin cubs. This allows us to leverage a globally recognised IP to promote Hong Kong and panda tourism worldwide.” Global Twin Power: Influencers from Around the World Send Birthday Wishes A lineup of international twin influencers has been brought together by the HKTB to celebrate the occasion, including the Stokes Twins from the United States (190 million followers), the Rybka Twins from Australia (24 million followers), and the Shake Twins from South Korea (3.2 million followers), as well as hugely popular child influencer Wang Xiaomai from Mainland (26 million followers) and renowned panda photographer Kojiro Mizuo from Japan. These internationally acclaimed influencers will deliver heartfelt birthday messages in Mandarin, English, Japanese, and Korean to mark the first birthday of the giant panda twins.

      August Lucky Draw: Win the Birthday-edition LABUBU to Celebrate Panda’s Birthday Throughout August, the CSTB, the HKTB, and Ocean Park are hosting a “LABUBU x Panda Twins Lucky Draw”. The promotion is the HKTB’s first collaboration with Hong Kong artist Kasing Lung – creator of the hugely popular LABUBU – who has designed an exclusive birthday edition. Standing 18 centimetres tall, the special edition LABUBU wears a birthday hat and is covered in sprinkle green and a transparent gradient finish inspired by bamboo. LABUBU has heart motifs in its eyes as it cradles miniature versions of Jia Jia and De De.

      The artist declared, “I am delighted to collaborate with the HKTB and design this Panda Twins birthday special edition of LABUBU to share Hong Kong’s joyful energy with fans worldwide, and to play a part in promoting our city.” A lucky draw for the special edition LABUBU will be held throughout August. All locals and visitors can pre-register on the event website. From 1 August to 31 August, they can participate in the lucky draw when visiting the Park for a chance to win one of approximately 300 birthday gift boxes containing the birthday-edition LABUBU and a commemorative birthday card. Additional gift boxes will be available during the birthday celebrations from 15 to 17 August. For more details, please visit www.discoverhongkong.com/eng/what-s-new/panda.html Trade Promotion Competition Licence No.: 60184 – 60369 (Only applicable to lucky draw).

      Jazzie Sillona (@jazziesillona), a popular content creator based in Hong Kong, has also produced a Hong Kong Travel Vlog following LABUBU and the panda twins to Victoria Harbour, Ocean Park, and other city landmarks. The clip will be uploaded to HKTB’s social media channels. (Reference link: youtube.com/shorts/hXpTCdzoy48) Panda Fever Takes Over: Street Signs Get A Panda-Themed Makeover From late July, the CSTB and HKTB will transform Hong Kong’s tourism hotspots with panda-themed street signs in 32 streets in batches, each featuring customised designs that blend photos of the twin pandas with symbols of local cuisine, cultural elements, and landmarks. Seven signs will feature unique, site-specific artwork. The sign on First Street in Sai Ying Pun, for example, will show the twins in party hats with their birthday cake, while the sign in Fire Dragon Path in Causeway Bay will feature the twins joining the historic Tai Hang Fire Dragon Dance. In addition, HKTB will install new panda-themed decorations at the Kowloon Visitor Centre at the Star Ferry Pier in Tsim Sha Tsui. Approximately 40 different Ocean Park panda-themed souvenirs will also be available for visitors who wish to take home a memento of the celebrations.

      On the twins’ birthday – 15 August – HKTB, Ocean Park, and MTR Corporation will jointly present the livestreams of the giant pandas’ birthday party. Commuters will be able to watch a 30-minute interactive live broadcast of the celebrations at Ocean Park on the giant screens in Hong Kong, Causeway Bay, and Tsim Sha Tsui MTR stations at a designated time.

      “Hong Kong Summer Viva”: A City-wide Fiesta with Deals Galore The birthday celebrations coincide with the HKTB’s “Hong Kong Summer Viva” campaign, which targets both locals and visitors and features over 260 special offers from theme parks, hotels, restaurants, and retailers. You can browse all the deals on a dedicated page on the Discover Hong Kong website (www.discoverhongkong.com/hk-eng/what-s-new/events/summer-viva.html).

      Members of the media can download the photos from the following links Photos assetlibrary.hktb.com/assetbank-hktb/action/browseItems?categoryId=2098&categoryTypeId=2&cachedCriteria=1 About Hong Kong Tourism Board (HKTB) The Hong Kong Tourism Board (HKTB) is a government-subvented body tasked to market and promote Hong Kong as a travel destination worldwide and enhance visitors’ experience once they arrive. These include making recommendations to the Government and other relevant bodies on the range and quality of visitor facilities.

      The HKTB’s missions are to maximise the social and economic contribution made by tourism to the community of Hong Kong and to consolidate Hong Kong’s position as a unique, world-class, and most desired destination.

      (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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