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    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
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    Rupee settles with 5 paise gain at 95.17 against US dollar
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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
    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
    Show AI Summary
    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
    Show AI Summary
    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
    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
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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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      India, China unveil raft of measures to fully realise their development potential

      August 19, 2025

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      New Delhi, Aug 19 (PTI) In a major thaw in their frosty ties, India and China on Tuesday unveiled a series of measures to forge a "stable, cooperative and forward-looking" relationship that included jointly maintaining peace along the frontier, reopening border trade, promoting investment flows, and resuming of direct flight connectivity at the earliest.

      The announcements aimed at realising the full development potential of the two Asian giants came amid growing estrangement in ties between India and the US over President Donald Trump's policies on trade and tariff.

      India and China listed the measures in a joint document after Chinese Foreign Minister Wang Yi held wide-ranging talks with External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval over the last two days besides meeting Prime Minister Narendra Modi.

      The two sides agreed that they should earnestly implement the important common understandings reached between Prime Minister Modi and Chinese President Xi Jinping and promote sustained, sound and steady development of India-China relations.

      Wang landed in Delhi on Monday on a two-day visit and his trip is largely seen as part of ongoing efforts by the two neighbours to rebuild their relationship after it came under severe strain following the deadly Galwan Valley clashes in 2020.

      The Doval-Wang talks under the framework of the Special Representatives dialogue on Tuesday produced five concere outcomes that included setting up an expert group, under the Working Mechanism for Consultation and Coordination (WMCC) to explore an "early harvest in boundary delimitation".

      In the meeting, Doval and wang agreed on the need to take a political perspective of the overall bilateral relationship while seeking a fair, reasonable and mutually acceptable framework for settlement of the boundary question in accordance with the agreement on political parameters and Guiding Principles for Settlement of the boundary question signed in 2005.

      They also agreed on setting up a working group, under the WMCC, to advance effective border management in order to maintain peace and tranquillity in India-China border areas.

      Both sides also agreed to create a "general level mechanisms" in Eastern, and Middle sectors, in addition to the similar mechanism in Western sector, and holding an early meeting of the the mechanism in the Western sector, accoring to a joint statement.

      The two sides also agreed to use the border management mechanisms at diplomatic and military levels to carry forward the process of border management, and discuss de-escalation, beginning with the principles and modalities.

      The talks between Jaishankar and Wang on Monday produced a total of 12 outcomes that included a decision to explore and resume various official bilateral dialogue mechanisms and exchanges, to enhance cooperation and address each other's concerns and properly manage differences.

      The joint document said both sides agreed to the re-open border trade through the three designated trading points, namely Lipulekh Pass, Shipki La Pass and Nathu La Pass.

      India and China also agreed to facilitate trade and investment flows between the two countries through "concrete measures", it said.

      Both sides agreed to jointly maintain peace and tranquility in the border areas through friendly consultations, it added.

      India and China also agreed to resume direct flight connectivity between Chinese mainland and Indian cities at the earliest, and finalise an updated Air Services Agreement.

      They also agreed on the facilitation of visas to tourists, businesses, media and other visitors in both directions, the joint document said.

      "Both sides agreed to continue and further expand the scale of the Indian pilgrimage to Mount Kailash/ Gang Renpoche and Lake Manasarovar/ Mapam Yun Tso in Tibet Autonomous Region of China starting 2026," it said.

      The two sides exchanged views on trans-border rivers cooperation and agreed to give full play to the role of India-China expert level mechanism on trans-border rivers and keep communication on renewal of the relevant MoUs.

      The Chinese side agreed to share hydrological information during emergency situations based on humanitarian considerations.

      Earlier, in their meeting, Doval and Wang highlighted the upward trend in India-China engagement and discussed the way forward as well as de-escalation of the of the frontier.

      There has been an "upward trend" in India-China relations in the past nine months as peace and tranquillity prevailed along the border, Doval said.

      In his televised opening remarks, the NSA recalled his visit to Beijing in December last for the previous round of SR talks and said there has been an "upward trend" in the ties between the two sides since then.

      "Borders have been quiet, there has been peace and tranquillity, our bilateral engagements have been more substantial," he said.

      Doval also formally announced that Modi will visit China to attend the SCO Summit, to be held in Tianjin on August 31 and September 1 and noted that the Special Representatives talks have assumed a "very special importance" in view of the trip.

      The NSA also made a mention of the talks between PM Modi and Chinese President Xi Jinping on the margins of a multilateral event in the Russian city of Kazan in October last year, adding that both sides benefited a lot since then.

      "The new environment that has been created has helped us in moving ahead in the various areas that we were working on," Doval said.

      The Modi-Xi meeting took place two days after India and China firmed up a disengagement pact for the remaining two friction points of Depsang and Demchok in eastern Ladakh.

      The two leaders had decided to revive several mechanisms, including talks between the Special Representatives, to normalise bilateral ties.

      In his remarks, the Chinese foreign minister said the two sides should "increase mutual trust through strategic communication, expand common interest through exchanges and cooperation, and properly settle the specific issues" along the borders.

      "We are heartened to see the stability that is now restored in the borders." "Now the bilateral relationship is facing an important opportunity of improvement and growth. The Chinese side attaches great importance to the Prime Minister's visit to China to attend the SCO Summit at our invitation," he said.

      The Indian side strongly raised the issue of terrorism in all its forms and manifestations, including cross-border terrorism, recalling that one of the original objectives of the Shanghai Cooperation Organisation (SCO) was to counter the evil of terrorism, the MEA said.

      Minister Wang Yi concurred that countering terrorism should be given the highest priority, it added.

      In the SR talks, both sides deliberated on maintaining peace and tranquility along the Line of Actual Control (LAC).

      Though the two sides disengaged troops from the friction points, they are yet to de-escalate the situation by pulling back the frontline forces from the border.

      Each side currently has around 50,000 to 60,000 troops along the LAC in the eastern Ladakh region.

      The military standoff in eastern Ladakh began in May 2020 and the clashes at the Galwan Valley in June that year resulted in a severe strain in bilateral ties.

      The face-off effectively ended following completion of the disengagement process from the last two friction points of Demchok and Depsang under an agreement finalised on October 21 last year.

      In the last few months, the two sides also initiated a number of initiatives to rebuild the ties that included resumption of Kailash Mansarovar Yatra and New Delhi restarting issuance of tourist visas to Chinese nationals. PTI MPB KVK KVK

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