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    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
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
    DRI intensifies vigil along India's North-Eastern Frontier
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    August 8, 2026
    Show AI Summary
    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
    Show AI Summary
    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
    Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
    August 8, 2026
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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
    Show AI Summary
    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
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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.

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      From Grit to Glory: OMG Face of the Year 2025 Crowns India’s Next-Gen Icons

      August 12, 2025

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      L-R: Akash Manwani – Vice President D’cot Fashion, Abhijeet Adurkar - General Manager The Resort, Mumbai; Celebrity Shivam Khajuria, Rohit Khandelwal (Mr. World 2016), with Blanckanvas Media Founder Parimal Mehhta, Sini Shetty Miss (India World 2022); Kannagi Desai - Beauty Editor Elle India, Rochelle Chabra - Director Streax Professional, Shirin Merchant - Technical Ambassador, Streax Professional Mumbai (Maharashtra) [India], August 12: After weeks of tasks, transformations, and turning points, the curtains closed on a spectacular Season 3 of OMG Face of the Year with a resounding message: true talent goes far beyond the surface. Held in Mumbai, the grand finale of India’s biggest digital talent hunt turned the spotlight on individuality, self-expression, and breakthrough stories that inspired.

      The evening crowned three exceptional winners: • Miss OMG 2025 – Rashmita Shettigar (Karnataka) • Mr. OMG 2025 – Piyush Lalwani (Maharashtra) • Streax Professional Hairstyle Icon of the Year – Priyanka Sinha (West Bengal) For Miss OMG Rashmita Shettigar, the journey was one of self-discovery. "When I arrived, I didn’t know where I belonged. But this experience showed me that being different is my strength. This win represents every young woman who’s been told she’s either too much or not enough," she said.

      Mr. OMG Piyush Lalwani shared how the competition helped him grow beyond expectations. "OMG challenged me physically, mentally, and emotionally. The person I’ve become is stronger and more self-assured—and that means more to me than any title.

      Streax Professional Hairstyle Icon of the Year winner Priyanka Sinha reflected on her artistry through hairstyling: "Hair is an extension of who we are. Each challenge allowed me to explore and present my creativity. This title is recognition of that expression and vision." Runners-up who impressed with their grit and individuality: • 1st Runners-up – Mr. OMG: Faizan Khan from Uttarakhand, Miss OMG: Prisha Bakshi from Maharashtra ·2nd Runners-up – Mr. OMG: Rajeev Pawar from Karnataka, Miss OMG: Ahana Chauhan from Maharashtra • Streax Professional Hairstyle Icon of the Year 1st Runner-up – Bhaskar Jyoti from Assam ·Streax Professional Hairstyle Icon of the Year 2nd Runner-up – Durmit Garge from Gujarat The finale was elevated by the presence of beauty icons like Sini Shetty (Femina Miss India 2022), Rohit Khandelwal (Mr. World 2016), and television personality Shivam Khajuria, who cheered on the finalists with their encouragement and charisma.

      The event was judged by an accomplished panel from the fashion, beauty, and lifestyle industries: • Rochelle Chabra – Head, Streax Professional • Abhijeet Adurkar – General Manager, The Resort, Mumbai • Akash Manwani – Vice President, D’Cot Fashion • Kannagi Desai – Beauty Editor, Elle India • Shirin Merchant – Technical Ambassador, Streax Professional The journey doesn’t end here — audiences will soon witness every raw moment, every challenge, and every breakthrough in the OMG Face of the Year Season 3 reality series, streaming soon on Hungama OTT.

      Powered by Passion, Backed by Vision: This edition was brought to life by the generous support of Title Sponsor Streax Professional, Powered by The Resort, and Co-powered by D’Cot Fashion. The night was made even more dazzling as contestants were styled by the talented duo Kavita Kharayat and Sunny Kamble, who brought each look to life with finesse and flair. Adding depth to the runway were standout designer labels, including Gaddani by Abdul Hadi Niyas, Label Pramila by Pooja Singh, House of NM by Nidhi Munim, Modo Caldo by Jigyasa Jolly, and Felix Bendish — each contributing their unique aesthetic to the showcase. Enhancing the glamour were Anusaya Beauty and Riana, who joined as Jewellery Partners, completing every look with elegance and sparkle.

      Speaking about the partnership, Rochelle Chabra shared: This was our first collaboration with OMG Face of the Year, and it couldn’t have been more aligned with our vision. By merging it with the Streax Professional Hairstyle Icon of the Year, we were able to spotlight not just exceptional styling skills, but the power of individuality and creative expression. At Streax Professional, championing hairstylists isn’t just something we do — it’s deeply embedded in our brand’s DNA. For years, we’ve consistently empowered, educated, and elevated them to the forefront, and this platform further strengthens that commitment.

      Parimal Mehhta, the show’s founder and curator, emphasised the platform’s evolution and cultural relevance. "Season 3 affirmed something truly significant — that today’s generation values authenticity just as much as visibility. It’s no longer just about looks or performance; it’s about meaning, intention, and personal voice. OMG Face of the Year has transformed into a powerful platform where emerging talent can share their real stories, challenge norms, and be unapologetically themselves. We’re not just discovering stars — we’re nurturing changemakers. The anticipation for Season 4 is already building, and it promises to be even more inclusive, expressive, and bold." Abhijeet Adurkar, General Manager, The Resort, Mumbai, added: “The Resort has always been known to host meaningful events. Supporting a platform like OMG, which empowers young talent, aligns perfectly with our spirit of celebration.” Akash Manwani, Vice President, D’Cot Fashion, said: “Platforms like OMG bring that philosophy to life by putting the spotlight on confidence, voice, and personal style. We’re proud to be a part of that story.” A Celebration Powered by Meaningful Collaborations OMG Face of the Year 2025 was elevated by a league of partners who added finesse, flair, and flavor to every moment: Eva Flotter by Action Plus kept the finalists stylish as Footwear Partner, while The Tea Culture of the World served artisanal blends as Refreshment Partner. Radio City built buzz as Radio Partner, Svar Gems added sparkle as Crown & Trophy Partner, and Media World brought the entire event to life as the Event Partner, taking charge of the full setup and on-ground experience.

      Mid-Day amplified reach as Print Partner and Bright Outdoor as Outdoor Media Partner, with 1664 Blanc as Happiness Partner and Frizzano Sparkling Wine as Celebration Partner, setting the celebratory mood.

      Adding layers of indulgence and elegance were PADM by Roopa (Fragrance Partner), Occasions Dry Fruits (Premium Nourishment Partner), and House of Samsara (Signature Sip Partner). Style and spirit were brought in by Horra Luxury (Accessory Partner) and Woodburns Contemporary Indian Whisky (Spirit Partner). And rounding out the experience, Six Brothers Mahura joined as the Exquisite Experience Partner — making the night a perfect fusion of glamour, creativity, and celebration.

      About OMG Face of the Year: As India's biggest digital talent hunt, OMG Face of the Year is the ultimate launchpad for the next generation of models and artists. Now in its explosive third season, it's the most talked-about event in the Indian beauty and fashion scene.

      About Streax Professional Streax Professional, a brand closely associated with style and glamour in the salon business, was launched in 2004 by Hygienic Research Institute. Streax Professional is the smart choice for smart Indian stylists and consumers. Launching innovative products with well-researched formulations, especially suited to Indian hair types, Streax Professional is the forerunner in the professional segment with the widest distribution network. Streax Professional Hair colourant range (Colour, Developer and Ultralights) is on a continuous growth path and has a partnership with over 40,000 salons across India.

      About Hygienic Research Institute Hygienic Research Institute Private Limited (HRIPL) is a prominent Indian leader in beauty and personal care products, specialising in hair care, skin care, and salon services. With over 60 years of legacy since 1957, HRIPL has grown from a single-brand promoter-owned entity to a multi-brand, multi-category organisation backed by private equity Premji Invest and is known for brands like Vasmol, Streax, and Streax Professional, along with Florozone in skin care. Committed to quality, innovation, and customer satisfaction, HRIPL operates with a vision to offer excellent products and services globally while fostering growth and spreading happiness. The company boasts a robust manufacturing legacy across six locations, adhering to international quality standards. HRIPL is honoured with accolades such as Great Place to Work, Best Workplace for Innovation, and recognition in the FMCG sector, underscoring its commitment to excellence in workplace culture and innovation.

      (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI PWR

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