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    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
    Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India'
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    Rupee settles with 5 paise gain at 95.17 against US dollar
    India weathered Hormuz disruption without fuel shortages: Puri
    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
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    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
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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.

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      Modicare Unveils ShiftLife, Its New Wellness Range Under Modiway

      August 1, 2025

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      Helping people to not just live longer, but live better—through small, conscious shifts every day New Delhi, Delhi, India (NewsVoir) In a continued effort to empower individuals in their journey towards better health and wellbeing, Modicare Limited, one of India’s leading direct-selling companies, has announced the launch of Modiway Shift Life under its health & nutrition category. This all-new range marks a significant step in Modiway’s commitment to offering innovative, accessible solutions that support holistic, long-term wellbeing. Curated with a deep understanding of today’s fast-paced world, Shift Life offers a better way forward, through effective and science-backed products that nourish the body, support the mind, and uplift the soul. The products combine the potency of plant-based, vegan formulations, the precision of modern science, and the wisdom of Ayurveda, offering clean, effective, and easy-to-integrate solutions that address common lifestyle concerns such as fatigue, poor digestion, dull skin, low immunity, stress, and sluggish metabolism. Speaking on the launch, Mr. Samir K Modi, Founder and Managing Director, Modicare Limited, said, “I believe that the true wealth of a nation lies not only in its financial growth, but in the well-being, inner strength, and conscious living of its people. With a carefully curated range of 10 wellness products, ShiftLife is designed to support real, everyday health needs. More importantly, ShiftLife reflects the philosophy that drives Modiway, that health is not just about the physical, but about living with clarity, discipline, and intention.” YouTube link: www.youtube.com/watch?v=GEXw0KeQDbk With a carefully curated range of 10 wellness products, ShiftLife is designed to support real, everyday health needs: ShiftLife Super Greens A potent blend of 40 super ingredients; greens, superfoods, fruits, veggies, herbs, and probiotics to support digestion, vitality, and immunity. ShiftLife Veg Collagen Formulated with clinically studied vegan collagen (Vegcol®), glutathione, Vit C & E, and resveratrol to promote skin elasticity, radiance, and stronger hair & nails. ShiftLife Pea Based Protein An allergen-friendly protein blend with pea, brown rice, MCTs, superfoods, and probiotics designed to support strength, stamina, and gut health. ShiftLife Probiotic Capsules A potent blend of 50 billion CFUs from 11 clinically studied strains in a daily capsule to help reset the gut, reduce bloating, and support better nutrient absorption. ShiftLife BP Balance An Ayurvedic syrup formulated with Arjuna, Haridra, Haritaki, Saunf & Akshiki Phala to support heart health and healthy blood pressure. ShiftLife Glo Boost An Ayurvedic Syrup with Kesar, Shvetachandana, Kanyasara, Haridra, Sveta Sariva, Yashtimadhu & Haritaki to promote radiant and clear skin from within. ShiftLife Metabolic Boost An Ayurvedic syrup with Amla, Tvak, Kokum, Ashwagandha, Katuki, Rakta Punarnava & Haritaki to support metabolism, digestion, and natural detox. ShiftLife Vita Liver A liver support syrup with Bhringaraja, Rakta Punarnava, Kalmegh, Katuka, Trivrita & Guduchi to aid detox, digestion, and overall liver health. ShiftLife Respiratory Care A comforting, non-drowsy, non-alcoholic syrup with Tulasi, Ginger, Yashtimadhu, Pippli, Kali Mirch, Labanga, Kantkari, & Haritaki to reduce chest congestion and support lung health. ShiftLife Himalayan Shilajit Gold with Kesar A premium proprietary formulation with Shilajit, Suvarna Bhasma, and Kesar to enhance endurance, vigour and vitality. Available exclusively through Modicare Consultants across the country and online at Modiway.com, ShiftLife reflects the philosophy that drives Modiway, that health is not just about the physical, but about living with clarity, discipline, and intention. About Modicare Modicare is one of India’s leading Direct Selling Companies and the pioneer of Direct Selling industry in India. It has been empowering Indians and changing their lives since 1996. Today, the company has over 60 Lakh Direct Sellers and offers over 470+ products, 890+ SKUs across 18 categories - Personal Care, Wellness, Consumer Durables, Skin Care, Colour Cosmetics, Food & Beverage, Homecare, Auto Care, Laundry Care, Technology, 18 Karat Gold Plated Jewellery, Watches, Divine, and Agriculture. It has a national presence through its 50+ Modicare Lifestyle Centres and 11700+ Distribution Points. As part of its continued commitment to innovation and holistic well-being, Modicare introduced Modiway – The New Way. This initiative further strengthens the company’s portfolio with 95+ products and 128+ SKUs across three key categories – Health & Nutrition, Beauty, and Kitchen Solutions. The Health & Nutrition category features the ShapeShift and ShiftLife ranges, priced between INR 650 and INR 4,300. The Beauty segment offers the Forest Nectar range, priced from INR 850 to INR 2,000. The Kitchen Solutions category includes the Soul Chef range, priced from INR 600 to INR 11,000. Together, Modicare and Modiway continue to inspire entrepreneurship and promote wellness in every Indian household. For more information, visit www.modicare.com OR www.modiway.com Facebook: www.facebook.com/OfficialModicare.India Instagram: www.instagram.com/officialmodicare.india (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI

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