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    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
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    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
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    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.
    August 7, 2026
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    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
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    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.

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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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