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    DFS Organises Workshop to Strengthen Implementation of Reservation Policy Across Public Financial Institutions
    DPIIT Signs MoUs with PhonePe and Shell India to Strengthen Startup Ecosystem and Drive Innovation
    Union Minister of Commerce and Industry Shri Piyush Goyal Strengthens India-Singapore Economic Partnership through High-Level Bilateral and Business E...
    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
    Razorpay Launches Multi-Currency Account, Helping Exporters Retain International Earnings in Foreign Currencies
    DB HiTek to Make Debut at electronica India 2026, Targeting Growth in Indian Market
    BJP demands Vijayan’s resignation from Keralam LoP post over ED findings in CMRL case
    Pakistan seeks USD 10 bn US facility to bolster forex stability
    DRI busts a wildlife trafficking syndicate involved in illicit trade of ivory artefacts
    Japan reports record exports, imports for July as energy costs climb
    Five held in UP's Bareilly for alleged fake Ayushman cards racket
    MSMEs are the true builders of India’s economic resilience: LG Sinha
    RBI MPC preferred wait-and-watch stance amid food and fuel inflation risks: Minutes
    Bihar Police arrests man over alleged exam irregularities
    United Arab Emirates suspends trade with Iran after coming under renewed missile fire
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    Instant Credit Card Application With JioFinance: Step-by-Step Guide
    Union Minister of Commerce & Industry Shri Piyush Goyal leaves for Singapore for 4th India-Singapore Ministerial Roundtable and 4th India-Singapore Bu...
    IDFC FIRST Bank successfully accesses international debt capital markets with maiden US$500 million bond issuance
    Any attempt to defame CAS by manipulation will be dealt with sternly, warns Sebi's Pandey
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    August 20, 2026
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    Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
    Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
    August 20, 2026
    Show AI Summary
    Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
    DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
    August 20, 2026
    Show AI Summary
    India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
    India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
    August 20, 2026
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    Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
    Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
    August 20, 2026
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    Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
    Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
    August 20, 2026
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    Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
    DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
    August 20, 2026
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    Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
    Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
    August 20, 2026
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    Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
    Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
    August 20, 2026
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    Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
    Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
    August 20, 2026
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    Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
    Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
    August 19, 2026
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    Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
    Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
    August 19, 2026
    Show AI Summary
    MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
    MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
    August 19, 2026
    Show AI Summary
    Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
    Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
    August 19, 2026
    Show AI Summary
    Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
    Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
    August 19, 2026
    Show AI Summary
    Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
    UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
    August 19, 2026
    Show AI Summary
    Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
    Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
    August 19, 2026
    Show AI Summary
    Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
    Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
    August 19, 2026
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    Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
    India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
    August 19, 2026
    Show AI Summary
    International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
    IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
    August 19, 2026
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    Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
    Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.

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      Russian drone, missile attack on southern Ukraine kills 1, wounds dozens

      August 30, 2025

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      Kyiv, Aug 30 (AP) Russia launched a large aerial attack on southern Ukraine, officials said Saturday, two days after a rare airstrike on central Kyiv killed 23 and damaged European Union diplomatic offices as US-led efforts to end the three-year war staggered.

      Among other locations hit, the assault overnight into Saturday struck a five-story residential building, killing at least one civilian and wounding 28 people, including children, in the Zaporizhzhia region, Gov Ivan Fedorov reported.

      Russia launched 537 strike drones and decoys, as well as 45 missiles, according to Ukraine's air force. Ukrainian forces shot down or neutralised 510 drones and decoys and 38 missiles, it said.

      The Kremlin on Thursday said Russia remained interested in continuing peace talks, despite the air attack on Kyiv that was one of the largest and deadliest since Moscow's full-scale invasion in 2022.

      The attacks came less than two weeks after US President Donald Trump met Russia's Vladimir Putin for a summit in Alaska, a meeting that marked the end of Putin's diplomatic isolation in the West but yielded few details on how the war might end.

      Thursday's strike was one of the few times Russian drones and missiles have penetrated the heart of the Ukrainian capital. Children were among the dead, and search and rescue efforts continued for hours to pull people from the rubble.

      Hours after the attack, the United States approved an $825 million arms sale to Ukraine that will include extended-range missiles and related equipment to boost its defensive capabilities. Washington's efforts to broker peace between Ukraine and Russia appear to have stalled.

      Russia accused of slow-walking peace talks as its troops press on Ukrainian President Volodymyr Zelenskyy on Friday expressed frustration with what he called Russia's lack of constructive engagement.

      Ukraine has accepted a US proposal for a ceasefire and a meeting between Putin and Zelenskyy, but Moscow has raised objections. Trump said Friday he expects to decide on next steps in two weeks if direct talks aren't scheduled between the two leaders.

      Meanwhile, Ukraine's European allies have accused Putin of dragging his feet in peace efforts and avoiding serious negotiations while Russian troops move deeper into the country.

      Moscow's forces are waging a “nonstop” offensive along almost the whole 1,000-kilometre front line in Ukraine, and have the “strategic initiative," the chief of Russia's general staff said Saturday. Valery Gerasimov's address to his deputies was published by Russia's Defence Ministry.

      Since March, Moscow has taken more than 3,500 square kilometres of Ukrainian territory, and captured 149 settlements, Gerasimov said. It was not immediately possible to verify the situation on the battlefield.

      Russian forces this month broke into Ukraine's southeastern Dnipropetrovsk region, a Ukrainian military official said Wednesday, pressing into an eighth Ukrainian province in a possible bid to strengthen the Kremlin's negotiating hand. Gerasimov on Saturday said Moscow's troops have so far taken seven settlements in Dnipropetrovsk.

      EU officials mull how to make Russia pay for invasion European Commission President Ursula von der Leyen said the EU was advancing toward seizing frozen Russian assets to hand to Ukraine.

      “It's clear that the predator has to pay for what he did,” she said, referring to Putin.

      Von der Leyen spoke Saturday in Estonia in a joint news conference with Prime Minister Kristen Michal, while on a four-day tour tour of European states bordering Russia or its ally Belarus.

      Kaja Kallas, the EU's foreign policy chief, said that “everyone agrees that Russia should pay for the damages, not our taxpayers,” but that there was disagreement within the EU about confiscating the assets.

      Belgian Foreign Minister Maxime Prévot said his government opposed the move, as it "would trigger a system financial instability, and also erodes trusts in the euro.” He said the assets should remain frozen until Russia pays Ukraine reparations.

      Kallas and Prévot spoke during a summit of EU foreign and defense ministers in Copenhagen. Over two days on Friday and Saturday, EU officials discussed sanctions on Russia, ramping up defense supplies to Kyiv, postwar security guarantees and Ukraine's prospects for joining the 27-nation bloc.

      Ukraine hits more Russian oil refineries Separately, Ukraine has continued to strike oil refineries inside Russia that it says have supplied Moscow's war effort, the Ukrainian general staff reported Saturday. It said two facilities were hit overnight: in the Krasnodar region near occupied Crimea, and the Samara region farther northeast.

      Falling drone debris sparked a fire at a refinery in the city of Krasnodar, regional Russian authorities confirmed Saturday. They said the blaze was extinguished, damaging one of the facility's processing units but causing no casualties. The Krasnodar refinery produces approximately 3 million tons per year of petroleum products such as gasoline, diesel and aviation fuel.

      A separate drone strike caused a fire at the Syzran Oil Refinery in the Samara province, according to the Ukrainian general staff.

      Gas stations have run dry in some regions of Russia after Ukrainian drones struck oil infrastructure in recent weeks, with motorists waiting in long lines and officials resorting to rationing or cutting off sales altogether. To try to ease the shortage, Russia has paused gasoline exports, with officials Wednesday declaring a full ban until September 30 and a partial ban affecting traders and intermediaries until October 31.

      Analysts expect the gasoline crisis to ease by late September as demand subsides and the annual summer maintenance for many refineries is finished. Still, the shortages have highlighted a vulnerability on the homefront that Ukraine could exploit further as drone warfare evolves.

      Former Ukrainian lawmaker shot dead In a separate development, Ukraine's former parliament speaker and a prominent pro-Western politician was shot dead in the city of Lviv on Saturday, according to statements by Zelenskyy and local authorities.

      Little is known so far about the perpetrator, or why Andriy Parubiy was targeted. Zelenskyy decried Parubiy's “terrible murder,” and vowed to open an investigation.

      Parubiy, 54, was a lawmaker from the Lviv region who participated in Ukraine's Orange Revolution in 2004 and led self-defense volunteer units during the Maidan protests of 2014, which forced pro-Russian President Viktor Yanukovych from office. He was parliament speaker from 2016 to 2019. (AP) RD

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