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    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
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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
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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
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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
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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
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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
Show AI Summary
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
Show AI Summary
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.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
August 19, 2026
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AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
August 19, 2026
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.

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'Can't allow Trump's ego to destroy strategic relationship with India': US lawmaker

September 2, 2025

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New York, Sep 2 (PTI) President Donald Trump's actions are destroying the partnership with India, a prominent US lawmaker and two former top officials have said, cautioning that the American leader's "ego" cannot be allowed to destroy a “strategic relationship" with the world's largest democracy.

Indian-American Congressman Ro Khanna, the co-chair of the US-India caucus, said he is sounding the “five-alarm fire” on what Trump is doing to “destroy" the US-India partnership.

Khanna accused Trump of “undermining 30 years of bipartisan work to strengthen the US-India alliance,” citing the imposition of 50% tariffs on Indian goods, including a 25% levy on New Delhi’s purchase of Russian oil.

Khanna added that Trump’s policies are “driving India towards China and Russia,” a trend that poses a strategic setback for the US.

Khanna said the levies imposed on India are higher than any other country, with the exception of Brazil, and are even higher tariffs than the duties on China, which is the largest purchaser of Russian energy.

“It is hurting India's exports of leather and textiles into the United States, and it's hurting American manufacturers and our exports into India. It is also driving India towards China and towards Russia,” he said.

Pointing to the root cause of the issue, Khanna said the reasons are “very simple”.

Khanna explained that Prime Minister Narendra Modi’s refusal to nominate Trump for a Nobel Peace Prize, while Pakistan did, has led to strained relations.

He referenced a statement from Islamabad, which credited Trump for bringing an end to the four-day conflict between India and Pakistan in May this year. India, however, maintained that the border dispute with Pakistan is an internal matter and refused to give Trump any credit.

"We can't allow the ego of Donald Trump to destroy a strategic relationship with India that is key to ensuring that America leads and not China," Khanna said.

"To all those Indian-Americans who voted for Donald Trump, I'm asking you, where are you today while he destroys this relationship?” he asked.

Khanna’s comments come as Prime Minister Modi had attended the Shanghai Cooperation Organisation (SCO) summit in China's Tianjin city, where he held bilateral talks with Russian President Vladimir Putin and Chinese President Xi Jinping.

The display of camaraderie between the three leaders was a stark reminder of India’s growing ties with both Russia and China.

Trump’s words and actions targeting India over tariffs and its purchases of Russian oil are being strongly criticised by other officials across the US, as well, including from those who have served in the previous White House administrations.

Former US National Security Advisor Jake Sullivan on Monday said Trump has "thrown the relationship with India over the side" because of Pakistan's willingness to engage in business deals with his family.

He described the move as a "huge strategic harm" to America.

"On a bipartisan basis, going back decades, the United States has worked to build its relationship with India, the world's largest democracy, a country that we should be aligned with on technology and talent and economics, so many other issues, and aligned with in dealing with the strategic threat from China,” Sullivan said in response to a question on the MeidasTouch network.

He noted that the US had made significant progress in strengthening ties with India.

However, that relationship, he claimed, has been undermined by Trump's preference for personal business interests with Pakistan.

“In no small part, I think because of Pakistan's willingness to do business deals with the Trump family, Trump has thrown the India relationship over the side,” Sullivan said, describing it as a “huge strategic harm” because a "strong US-India relationship serves our interests”.

Sullivan, who served as National Security Advisor under President Joe Biden, also voiced alarm that such actions raise concern among other countries around the world over their ties with the US under the Trump administration.

He said the current situation with India not only has direct strategic consequences but also “reverberating impact” on all US relationships and partnerships worldwide.

John Bolton, who served as NSA in the first Trump administration, has said President Trump has “shredded” decades of Western efforts to wean India away from Russia and caution it on the threat posed by China.

“The West has spent decades trying to wean India away from its Cold War attachment to Soviet Union Russia, and cautioning India on the threat posed by China. Donald Trump has shredded decades of efforts with his disastrous tariff policy,” Bolton said in a post on X Monday.

In an interview with Sky News, Bolton elaborated that the West, and the US in particular, has spent decades trying to wean India away from Russia, buying sophisticated weapons from them and cautioning New Delhi on the danger posed by China. This was symbolised by the Quad grouping of Japan, India, Australia and the United States.

“A lot of effort (was made) to make India more amenable to cooperation with these countries. Donald Trump, in the past weeks, has essentially upended that and, for a variety of reasons, now sent India back toward Russia, to grow closer to China, and just shredding these decades of efforts," he said.

The former NSA stressed that while the situation can be repaired, it would require significant work, which he does not see happening in the near term.

Bolton said there are a series of things that Trump has done that have offended the Indians on the basic tariffs that Trump wants, which he said at a macro level economic phenomena are a “disaster" for everybody.

He said India believed it was close to resolving disputes with Washington, only to be hit with 25 per cent duties. Trump then carried through on his threat to impose secondary tariffs on countries buying Russian oil and gas.

“Trump whacked India with another 25%, (but) did not tariff Russia, did not tariff China, the largest purchaser of Russian oil and gas.

"And then, to make it worse, when the recent escalation between Pakistan and India over a terrorist attack in Kashmir occurred... Trump took full credit for it as one of the six or seven wars that he stopped this year to deserve the Nobel Peace Prize, which has made India incandescent,” said Bolton, a long-time critic of Trump.

Since May 10, when Trump announced on social media that India and Pakistan had agreed to a “full and immediate” ceasefire after a “long night” of talks mediated by Washington, he has repeated his claim over 40 times that he “helped settle” the tensions between India and Pakistan.

India has been consistently maintaining that the understanding on cessation of hostilities with Pakistan was reached following direct talks between the Directors General of Military Operations (DGMOs) of the two militaries.

Prime Minister Narendra Modi has said in Parliament that no leader of any country asked India to stop Operation Sindoor.

External Affairs Minister S Jaishankar has categorically said there was no third-party intervention in bringing about a ceasefire with Pakistan during Operation Sindoor. PTI YAS SCY SCY SCY

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