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    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
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    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
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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.

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      Op Sindoor debate: Oppn seeks answers from govt on 'downed' Indian jets, why PoK not taken back

      July 28, 2025

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      New Delhi, Jul 28 (PTI) The Opposition on Monday targeted the government in Lok Sabha on "security lapses" that led to the Pahalgam attack, saying Home Minister Amit Shah must take responsibility for it, and demanded answers on how many Indian jets were downed during Operation Sindoor and why PoK was not taken back.

      Participating in a special discussion on Operation Sindoor, the Congress MPs questioned the government on the sudden halting of Operation Sindoor and asked "before whom did Prime Minister Narendra Modi surrender".

      Congress deputy leader in Lok Sabha Gaurav Gogoi asked when will India take back its Pakistan-occupied Kashmir (PoK) and also slammed the government over US President Donald Trump claiming "26 times" that he used trade to bring about a "ceasefire" between India and Pakistan.

      "If not today, then when will we take Pakistan-occupied Kashmir back?" Gogoi said.

      The Congress leader said Prime Minister Modi has been saying since the Uri and Pulwama attacks that "humne ghar mein ghus ke mara", "we destroyed terror infrastructure" and is making the same remarks even now after the "most horrendous" terror attack.

      He said the Opposition wants to know from PM Modi that if Pakistan was ready to kneel before India, "why did you stop and before whom did you surrender?" Noting that US President Donald Trump has claimed 26 times that he used the threat of trade to bring about a "ceasefire" between India and Pakistan, he said the American leader has also claimed five to six jets have been downed.

      "That is why we want to know from the defence minister, the country has the courage to listen to the truth, he must answer as to how many fighter jets were downed," Gogoi asked.

      "This information, this truth, is not just for Indian citizens; it is important for soldiers, they are also being lied to," he added.

      Gogoi said there are just "35 Rafale fighter jets in the country" and if some have been downed, "it is a big loss".

      He also asked why Defence Minister Rajnath Singh did not name China during his address in the Lok Sabha and said he must disclose how much support that country was providing to Pakistan during Operation Sindoor.

      Singh had initiated the discussion in the Lok Sabha on "India's strong, successful and decisive Operation Sindoor in response to the terror attack in Pahalgam".

      The government asserted in the Lower House it can go to any extent to uproot terrorism and warned that Operation Sindoor launched terror sites in Pakistan was on pause as the armed forces had achieved its desired objectives, but could resume in case of any misadventure by Islamabad. It also rejected Trump's claims on "ceasefire".

      Referring to Singh's speech, Gogoi said he gave a lot of information, but did not say, as the defence minister, how the terrorists came to Pahalgam.

      "The country wants to know ... 100 days have passed, but this government has not brought the terrorists to justice," he said.

      Taking on the home minister, he said he made claims that the backbone of terrorism has been broken, but the Uri and Pahalgam incidents still happened.

      "Who will take responsibility, the (Jammu and Kashmir) Lieutenant Governor? It is the home minister who must take responsibility. You cannot hide behind the LG. This government is ... so weak that it blamed even tour operators for the Pahalgam attack," the Congress leader said.

      Congress MP Deepender Singh Hooda demanded that India should not play cricket with Pakistan at a time when Operation Sindoor is going on.

      Hooda also batted for modernisation of Indian defence forces and an increase in the defence budget.

      He questioned the "silence" of Prime Minister Modi on claims made by US President Trump of brokering peace between India and Pakistan.

      The government has to decide its relationship with the US, he said, adding that India should ask Trump to stop speaking on India-Pakistan issues.

      The Rohtak MP added that the government should disclose the "terms of the ceasefire" with Pakistan.

      Taking on the government for halting Operation Sindoor at a time when India's security forces had an edge, TMC MP Kalyan Banerjee questioned the announcement of "ceasefire" and likened it to a player "declaring the innings" on the brink of scoring a century.

      "... Have you ever heard that a player batting at 90 and heading towards a century, declare the innings. Only Modiji can do this, no one else... It was a matter of completing 100 runs, ended up being at 90," he said.

      He also asked why PM Modi did not "counter" Trump "even once" on his claims made in a social media post on the role of the US in reaching the ceasefire.

      In a dig at the prime minister, the TMC MP said that in front of the US President, Modi's stature "gets reduced", and his "chest shrinks from 56 to 36 inches".

      NCP (SP) member Supriya Sule questioned the government's handling of Operation Sindoor, saying it cannot be called a success until the terrorists responsible for Pahalgam are caught.

      Urging External Affairs Minister S Jaishankar to reflect on the global calls for de-escalation, she referred to BJP MP Tejasvi Surya's own question about the objective of the war and highlighted the anguish of victims’ families, with one repeatedly asking her, “When will my father get justice?” Sule said Kashmir, once seen as paradise, had become a nightmare for many and mere compensation without jobs or accountability was not enough.

      Samajwadi Party MP Ramashankar Rajbhar said the country wanted "Operation Tandoor" after the Pahalgam terror attack to roast the terrorist responsible for it, and not Operation Sindoor.

      He accused the government of failing to act decisively and questioned the "delay" in the operation, saying that a mission that should have been initiated in three days was carried out after 17 days.

      "The country was so angry (over the Pahalgam attack) that by the third day, people wanted not Operation Sindoor, but Operation Tandoor, that is to throw the terrorists into that tandoor. But instead, the operation happened 17 days later." "Were those who carried out the Pahalgam attack among the 100 terrorists (killed during the operation)? That's the real question," he asked while lauding the country for displaying unity and foiling the enemy's plan of inciting riots.

      On Trump's claims of bringing a ceasefire, he said, "The real Vishwaguru was sitting in the White House," he said.

      Shiv Sena (UBT) MP Arvind Sawant said India should refrain from playing cricket with Pakistan in view of the ongoing tension with the neighbouring country.

      Sawant also wondered why India stopped the war with Pakistan without imposing any conditions when the neighbouring country "was on its knees begging for a ceasefire".

      "If India was in the vantage position, then what stopped the country from reclaiming Pakistan-occupied Kashmir," he said, adding this was an opportune time to teach Pakistan a lesson like India Gandhi had done during the 1971 war. PTI UZM KND RR ASK SKC RT RT RT

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