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    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
    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'
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    August 10, 2026
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    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
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    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
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    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
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    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
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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.

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      UGRO CAPITAL ANNOUNCES FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2025

      August 14, 2025

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      Reports AUM of INR 12,081 Cr, up 31% (YoY); Total Income of INR 421.8 Cr, up 40% (YoY); and PAT of INR 34.1 Cr, up 12% (YoY) EMBEDDED FINANCE AUM CROSSES INR 1,000 CR; EMERGING MARKET FOOTPRINT EXPANDS; PROGRESS ON THE PROFECTUS ACQUISITION AND CAPITAL RAISE STRENGTHENS THE NEXT LEG OF GROWTH Key Highlights: • AUM of INR 12,081 Cr, up 31% YoY • Total Income stood at INR 421.8 Cr in Q1'FY26, up 40% YoY • Net Total Income at INR 216.5 Cr, up 31% YoY • GNPA/NNPA at 2.5%/1.7% on total AUM • Embedded Finance Growth: Reached INR 1,011 Cr AUM with INR 582 Cr disbursed in Q1'FY26 through MSL platform • Emerging Market Business Growth: Reached INR 2,772 Cr AUM with 309 branches operational; ~346 branches to be operational by Sep'25 • CRAR at 22.4%, provides strong capital headroom above the regulatory minimum, supporting calibrated growth • Strategic actions: Profectus Capital acquisition (INR 1,400 Cr, all-cash) advancing; INR 381 Cr rights issue completed and INR 911 Cr preferential issue in process MUMBAI, India, Aug. 14, 2025 /PRNewswire/ -- UGRO Capital Limited ("UGRO" or "the Company"), a DataTech NBFC focused on MSME lending, announced its financial performance for the quarter ended June 30, 2025 (Q1'FY26). The Company sustained healthy year-on-year growth and a stable risk profile, while reinforcing structural growth engines of branch expansion in Emerging Markets, scale in Embedded Finance, and progress on the Profectus Capital acquisition and ongoing equity raise. Continuing its journey toward becoming the largest small business financing institution driven by data and technology, the Company reported Assets Under Management (AUM) of INR 12,081 crore as of June 30, 2025, reflecting a 31% YoY growth.

      Brief Financial Snapshot (INR in Cr) Particulars Q1'FY26 Q1'FY25 Growth (Y-o-Y) Q4FY25 Growth (Q-o-Q) AUM 12,081 9,218 31 % 12,003 1 % Loans originated / Disbursement 1,599 1,146 39 % 2,436 (34 %) Total Income 421.8 301.6 40 % 412.4 2 % Interest Expense 205.4 136.1 51 % 181.2 13 % Net Total Income 216.5 165.4 31 % 231.2 (6 %) Operating Expenses 120.6 89.4 35 % 119.7 1 % Credit cost 47.7 33.2 44 % 54.3 (12 %) PBT 48.2 42.8 12 % 57.2 (16 %) Tax 14.0 12.5 13 % 16.7 (16 %) PAT 34.1 30.4 12 % 40.5 (16 %) The Emerging Market Business continued to scale with 309 operational branches and a path to ~346 branches by September 2025, supported by improving branch-vintage profitability. The Embedded Finance platform crossed INR 1,000 Cr AUM; Q1 disbursements were INR 582 Cr, with strong contributions from partners such as PhonePe and BharatPe. In parallel, the Company advanced the INR 1,400 Cr all-cash acquisition of Profectus Capital (shareholder approval received; change-of-control and allied approvals in process) and continued its capital raise programme (INR 381 Cr rights issue completed; INR 911 Cr preferential issue in progress), further strengthening the balance sheet for quality growth.

      UGRO Capital continued to diversify liabilities and improve the cost of funds during the quarter. Total debt stood at INR 7,586 Cr as of June 30, 2025, with CRAR at 22.4%, and the off-book share at 42% supported by co-lending and direct assignment flows. The partner ecosystem remains deep and data linked with 17 Co-lending partners, 50+ lenders and 770+ GRO partners and Green anchor partners, enabling tailored credit for over 2 lakh MSMEs across India.

      In terms of financials, Total Income for Q1'FY26 stood at INR 421.8 Cr, up 40% YoY and 2% QoQ; Net Total Income was INR 216.5 Cr, up 31% YoY and PAT was INR 34.1 Cr, up 12% (YoY). Portfolio quality remained stable with GNPA/NNPA at 2.5%/1.7% on total AUM.

      UGRO reported Disbursement of INR 1,599 Cr in Q1'FY26. First Quarter of any Financial Year is seasonally softer, and by design, the Company prioritized discipline over pace. Underwriting filters were tightened particularly on borrower leverage resulting in calibrated originations. Draft co-lending guidelines issued in April weighed on volumes temporarily; the effect was cushioned by higher direct assignments and continued liability diversification. With the Emerging Market network nearing full rollout and embedded-finance funnels strengthening, momentum is expected to improve from Q2 while keeping asset quality at the center.

      Speaking on the performance, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, "Q1 was a quarter of discipline. In line with our risk guardrails, we tightened underwriting and moderated originations wherever borrower leverage was elevated. Even so, the portfolio remained resilient across our nine focus sectors, and we delivered 31% YoY AUM growth with stable asset quality. We stayed focused on building our next engines of Emerging Market distribution, Embedded Finance partnerships and the Profectus acquisition. With capital actions underway and approvals progressing, we are well placed for the next phase of high-quality growth. While the industry is seeing relatively higher stress in unsecured segments, UGRO's exposure there is limited and ring-fenced; our book is predominantly secured, and our filters are sharper than before. As seasonal effects fade and partner funnels ramp up, we expect growth to pick up while staying firmly disciplined on unit economics." About UGRO Capital Ltd (NSE: UGROCAP) (BSE: 511742) UGRO Capital Limited is a DataTech Lending platform, listed on NSE and BSE, pursuing its mission of "Solving the Unsolved" for the small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach.

      The Company's prowess in Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module which has uberized intermediated sourcing, GRO Chain, a supply chain financing platform with automated end-to-end approval and flow of invoices, GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers, and GRO X application to deliver embedded financing option to MSMEs.

      The credit scoring model GRO Score (3.0) a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India.

      UGRO has executed Co-lending model in India which is prevalent in the West through Co-Lending relationships with total of 17 Banks and NBFCs and built a sizeable off-balance sheet asset of 42% of its AUM through its Co-lending and Co-originating partners and GRO Xstream platform.

      The Company is backed by marquee institutional investors (raised INR 900+ Cr of equity capital in 2018, INR ~340 Cr in 2023, INR ~258 Cr in 2024 and INR ~1300 in 2025). For more information, please visit: http://www.ugrocapital.com/ (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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