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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'
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    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
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    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
    Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
    August 8, 2026
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
    August 8, 2026
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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    Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
    Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
    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
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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.

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      Deficit in democracy; Constitution under challenge: Opposition's VP pick B Sudershan Reddy

      August 23, 2025

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      New Delhi, Aug 23 (PTI) Opposition vice presidential candidate B Sudershan Reddy on Saturday said there is a "deficit in democracy" in the country and the Constitution is "under challenge" as he pledged to defend and protect it.

      In a wide-ranging exclusive interview with PTI, Reddy dwelt on a range of issues -- from how his candidature came about, the debate on the words 'socialist' and 'secular' in the Preamble to the Constitution and to Union Home Minister Amit Shah's accusation that he supported Naxalism.

      Calling himself a liberal constitutional democrat, the Opposition's nominee for the vice presidential election said he does not subscribe to the RSS ideology and he is far away from it.

      He said disruptions in Parliament were essential in a democracy, but cautioned that they must not become an integral part of the democratic process.

      Reddy also sought to downplay the debate on the vice presidential election emerging as a "South versus South" contest, saying both he and NDA nominee C P Radhakrishnan were citizens of one country but lamented that the country's "polity stands fractured", leading to this contest.

      He talked about bringing back all black money stashed abroad, asserting that the nation's wealth must come back and said it was "work still in progress".

      The former Supreme Court judge said earlier there was a talk of "deficit economy", but now there is a "deficit in democracy", and claimed that though India continues to be a constitutional democracy, it is "under strain".

      He, however, welcomed the debate on whether the Constitution is under attack.

      Reddy said democracy is less about a clash between individuals and more about a clash between ideas, and wished ties between the government and the Opposition were better.

      A former chief justice of the Gauhati High Court, the Opposition's vice presidential nominee said his "journey of upholding the Constitution continues, ultimately culminating in, if given an opportunity, to protect and defend the Constitution".

      "All through my life, I was upholding the Constitution. If you give me an opportunity to serve this country, I will try to defend and protect the Constitution of India, which undoubtedly is coming under challenge. The message is, there is still the possibility of a reasonably good and healthy debate amongst ourselves in this country," he said.

      Reddy said he upheld the Constitution primarily as a judge in the past. "So, this journey is nothing new to me," he said.

      His unanimous candidature by the Opposition was a matter of honour for him, he said.

      "First, it represents diversity. Secondly, the unanimous choice. Thirdly, in terms of voting strength, if you make an analysis, they represent more than 63-64 per cent of the population. What else could be an honour," he said.

      On the argument that top constitutional posts should be filled by consensus reflecting national unity, he said, "I wish there could have been a consensus. But you know, the polity as it stands is a fractured one. In the circumstances, perhaps it is inevitable, leading to this contest." Reddy talked stressed that democracy in India is under strain.

      "Earlier, we used to talk about a deficit economy, (now) there is a deficit in democracy. I do not say that India is no longer a democratic country. I don't subscribe to that. We still continue to be a constitutional democracy, but under strain," he said.

      Explaining his point, he noted that earlier, the treasury and opposition benches used to coordinate on many national issues. "Unfortunately, we don't find that today," he said.

      The VP election is not a contest between him and Radhakrishnan, but a contest representing "two different ideologies".

      "... Here is a person, a quintessential RSS man... So far as I am concerned, I do not subscribe to that ideology and I am far, far, far, far away from it. I am essentially a liberal constitutional democrat. This is the area or rather the arena for the contest where the fight goes on," he said.

      Reddy also talked about the disruption of Parliament's business. Both Houses of Parliament witnessed an extraordinary ruckus for a major part of the recently finished Monsoon session.

      He quoted former BJP leader Arun Jaitley, who said "disruption also is a legitimate political activity and a parliamentary practice" to champion disruption as a form of dissent.

      "Disruption is nothing but one form of dissent. If you are not allowed to speak or express your views, this is one form of speaking. That's how I look at the disruption. Not that I wish that disruption should become an essential and an integral part of democratic process," Reddy said.

      On Amit Shah's attack on him over the Salwa Judum verdict, Reddy said, "I do not wish to join an issue directly with the Honourable Home Minister of India, whose constitutional duty and obligation is to protect the life, liberty and property of every citizen, irrespective of ideological differences. Secondly, I have authored the judgment. The judgment is not mine, the judgment is of the Supreme Court." In December 2011, Reddy, as a judge of the Supreme Court, ruled that using tribal youths as Special Police Officers -- whether called 'Koya Commandos' or Salwa Judum -- in the fight against Maoist insurgents was illegal and unconstitutional and ordered that they be immediately disarmed.

      He wished Shah read the judgment, which runs up to 40 pages. "If he had read the judgment, perhaps he would not have made that comment. That's all I say and leave it there... There must be decency in the debate," he asserted.

      He also threw his weight behind the caste survey, saying one has to first find out the percentage of those who need to be succoured and policies framed accordingly to empower them.

      Reddy headed the expert panel which conducted the survey and revealed that 84.6% of the population in Telangana belonged to the backward classes.

      "The Constitution doesn't speak about caste. If you have to classify a group together with some people as the backward classes, you have to find out their caste, their socio-economic conditions, their way of living, their access to power and the way they are recognised by the society. Caste survey has to be done," he said, adding that the Government of India has now included it in the Census.

      According to Reddy, the Constitution is an integral one and it means conventions and morality.

      "There are various steps taken by the government in power, making one feel legitimately that it is coming under challenge," he said, welcoming the debate that the Constitution is under attack and saying all should participate in it and express their opinion.

      On the controversy over the inclusion of 'socialist', 'secular' in the Preamble, he said, according to him, the expressions have made things explicit, which is otherwise in-built in the provisions of the Constitution.

      "Both the words which are made explicit, the ideas contained in the Constitution are welcome. It is true that the amendment came, that is 42nd Amendment, when the Emergency was invoked.

      "But, one must remember, the Jana Sangh which formed the government later, unanimously approved it. Therefore, one fails to understand with what intention that debate is being triggered," he said.

      On different narratives on Mahatma Gandhi, Jawaharlal Nehru and BR Ambedkar, Reddy said if you read the three superficially, some misconceptions and misunderstandings come to mind.

      "Quintessentially, all three of them were great democrats, republicans and (they) believed in the ethics and morals of the Constitution. I do not think it would be in the interest of the nation to divide them into three segments. And one supporting and the other opposing and creating a false narrative is not in the nation's interest," he stressed. PTI SKC KSS KSS

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