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    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 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
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    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
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    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
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    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
    August 7, 2026
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    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
    August 7, 2026
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    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
    Show AI Summary
    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.
    August 7, 2026
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    Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
    BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
    August 6, 2026
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    Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
    Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.

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      House of McDowell’s Soda Yaari Jam, India’s Biggest Branded Live IP, Touches down in Kolkata

      August 2, 2025

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      From jamming in the skies to gearing up for a Yaari-filled night in Kolkata with King, Sanam, Fossils, and Bharg Kale. Kolkata, West Bengal, India – Business Wire India This Friendship Day, House of McDowell’s Soda is taking Yaari to new heights—both in the sky and on stage. As India’s biggest branded live IP, Yaari Jam, produced and promoted by TribeVibe Entertainment, marked a historic moment with the first-ever jam at 36,000 feet, where KING and Karma transformed a flight into an unforgettable moment of friendship. Now, the journey lands in Kolkata for the next chapter. At its core, House of McDowell’s Soda has always championed Yaari – not just as a theme, but as an emotion. With every edition of Yaari Jam, the brand strengthens its commitment to celebrating real connections between Yaars, via something that connects everyone – music. Onboard a private charter from Mumbai to Kolkata, artists KING, Karma, and comedians Ravi Gupta and Gurleen Pannu turned a mid-air jam into a one-of-a-kind experience – filled with music, stories, laughter, and unfiltered Yaari. Now, as the series kicks off on-ground in Kolkata, an electrifying lineup of KING, Fossils, Sanam, and Bharg Kale, is set to take the stage. This isn’t just another concert. It’s Yaari Jam—a tribute to friendship and music, and a celebration of the bonds that bring us together. “There’s no better way to celebrate Friendship Day than by turning it into a memory of a lifetime. We wanted to take it to the next level and there was no better way than celebrating this via Yaari Jam,” said Varun Koorichh, Vice President and Portfolio Head – Marketing, Diageo India. “From the moment the idea took flight, we knew we were onto something big. Bringing the real-life friend duo of KING, Karma, along with the others, onboard for a jam session at 36,000 feet and now taking that same energy to the heart of Kolkata - it doesn’t get more iconic than this. What began as a simple celebration of friendship has evolved into one of India’s biggest branded live IPs. Last year, we tapped 50,000 audiences across 5 cities for Yaari Jam. With every passing year, House of McDowell’s Yaari Jam has grown bigger, bolder, and closer to the hearts of our audiences. At the core of it all is Yaari, and we have some very exciting things lined up for our audience in the upcoming months!” Shoven Shah, Founder & CEO, TribeVibe Entertainment, said, “Yaari Jam has grown into India’s biggest branded live IPs, with Kolkata bringing immense excitement and we’re proud to be part of this cultural movement. At TribeVibe, we’ve always believed in the power of live entertainment to spark an unmatched artist-audience connection and the response to Yaari Jam is a testament to that. We have worked alongside House of McDowell's Soda from the early stages of the IP and to see it grow and have consumers showing up year on year, tuning in and celebrating music speaks volumes. With a lineup of incredible artists taking Yaari Jam to cities across India and meeting the rising demand for authentic, high-energy live moments, we're excited to bring yet another edition to life.” King, rapper and singer-songwriter, said, “As we’re heading to Kolkata with a lineup of incredible artists, I can’t wait to feel the energy. Yaari is about creating moments that remind us of what happiness truly means. I hope my music adds to the vibe of the Yaari Jam legacy and makes it a night to remember.” “We’ve always loved performing in Kolkata, the energy here is on another level,” said Sanam. “Being part of House of McDowell’s Soda Yaari Jam is special because it’s not just about the music, it’s about the yaari that inspires it. Friendship is at the heart of everything we do, and we can’t wait to celebrate that spirit with the amazing crowd in Kolkata.” “Kolkata is home, Kolkata is where most of our friends live. Performing here as part of the House of McDowell’s Soda Yari Jam on Friendship Day is extra special. We are excited, and we cannot wait to hit the stage and get some rocking vibes.” added Fossils. All in all, House of McDowell’s Soda knows exactly how to take friendship up a notch, even sky-high for that matter! The brand has more shows lining up in major cities across the country, so stay tuned! About Diageo India Diageo India is the country’s leading beverage alcohol company and a subsidiary of global leader Diageo Plc. The company manufactures, sells, and distributes an outstanding portfolio of premium brands such as Johnnie Walker, Black Dog, Black & White, VAT 69, Antiquity, Signature, The Singleton, Royal Challenge, McDowell’s No1, Smirnoff, Ketel One, Tanqueray, Captain Morgan, and Godawan, an artisanal single malt whisky from India. Headquartered in Bengaluru, the company has a team of over 3,000 employees, 35 manufacturing facilities across India, a strong distribution network, and a state-of-the-art Technical Centre. Incorporated in India as United Spirits Limited (USL), the company is listed on both the NSE and BSE. For more information, visit www.diageoindia.com. Visit Diageo's global responsible drinking resource, http://www.DRINKiQ.com, for information, initiatives, and ways to share best practices. About TribeVibe Entertainment Pvt. Ltd. TribeVibe Entertainment Pvt. Ltd., a BookMyShow company, is India’s leading youth and college entertainment platform, redefining how Gen Z experiences live events. Since its inception in 2019, TribeVibe has transformed the college festival landscape through a robust nationwide Campus Ambassador Programme, partnering with over 750 colleges across 75+ cities and curating unforgettable performances by some of the country’s top artists across music, comedy and cultural genres. It has since evolved into a multi-vertical platform spanning multi-city artist tours, branded IPs, campus activations and its flagship Gen Z festival, Vibin’. With a roster of over 150 artists and a proven track record of executing more than 2,500 shows, including 1,500+ college events, TribeVibe connects artists and brands directly with India’s vibrant student community, engaging over 1.5 million students on-ground every year. Its marquee projects include Vir Das’ Mindfool tour, Prateek Kuhad’s 10-city run, Zakir Khan’s 60-city comedy tour and regional showcases such as Aditya Gadhvi and Navratri with Falguni Pathak. As India’s live entertainment industry decentralises beyond the metros, TribeVibe is at the forefront of tapping into Tier 2 and Tier 3 markets, building scalable, hyperlocal experiences that bridge the gap between high-demand audiences and top-quality live acts. Backed by the scale and expertise of BookMyShow, TribeVibe continues to fuel India’s next wave of live entertainment by championing youth culture, greenfield markets and cutting-edge touring formats. TribeVibe Entertainment: Instagram | Facebook | X (formerly Twitter) | LinkedIn To View the Image, Click on the Link Below: King, Karma, Ravi & Gurleen — 4 yaars, 36,000 feet in the air, celebrating Friendship Day with House of McDowell’s Soda. A first-of-its-kind jam where yaari met skies, beats & banter (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI

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