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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'
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    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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    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
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
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    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.
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    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.
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
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    August 7, 2026
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    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
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    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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      India's Cultural Wanderlust on the Rise: Skyscanner Reveals 8 in 10 Indians Plan Trips Around Culture in 2025

      September 10, 2025

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      Delhi, India (NewsVoir) • 93% travellers will consider lesser-known destinations if they also offer authentic cultural experiences • Durga Puja in Kolkata (53%), Lathmar Holi in Barsana (51%), and Onam in Kerala (35%) emerge as the top cultural spectacles Indians want to witness in the coming year Leading global travel app Skyscanner recently released its latest Cultural Tourism report, highlighting a rising trend among Indians travelling in pursuit of authentic local heritage, traditions, and experiences. According to the findings, 82% of Indian travellers are very keen on visiting destinations primarily for their cultural offerings, with younger generations – Millennials (84%) and Gen Z (80%) leading this rising wave of cultural curiosity. This enthusiasm is evolving into a quest for depth as many travellers define cultural tourism not by the sights they see but by the knowledge they gain, with 39% considering a trip successful when they return home having learnt something new about the place or its people.

      The report also reveals a striking shift: 76% of Indian travellers have altered their travel plans to attend a cultural event, underlining how traditions and festivals are no longer side activities but central to holiday decisions. This cultural curiosity isn’t limited by geography. 7 in 10 travellers say they are open to exploring cultural experiences domestically and internationally. At its core, Indians are seeking authentic, immersive adventures that allow them to participate, learn, and return home with stories that truly feel transformative. Festivals as the Biggest Magnets for Cultural Travel • Indian festivals are emerging as some of the biggest draws for travellers. As per the report: • Over half of Indian travellers (55%) have attended local festivals, fairs, or cultural events.

      • Durga Puja in Kolkata (53%), Lathmar Holi in Barsana (51%), and Onam in Kerala (35%) lead the list of occasions travellers are most eager to witness live this year.

      • Beyond festivals, 53% of travellers are drawn to historical cities like Jaipur and Varanasi, while 39% are inspired to explore UNESCO World Heritage Sites such as Taj Mahal in Agra and Hampi in Karnataka. In fact, Skyscanner data shows searches to Varanasi, one of India’s most storied cultural cities, has risen by 76% for travel in 2025 compared to the previous year!(1) • Celebrated for their festive traditions, architectural grandeur, and local heritage, Kerala (32%) and Rajasthan (30%) have also emerged as India’s culture capitals.

      Growing Interest in Underrated Destinations Beyond these, travellers are curious to explore places that preserve traditions away from the crowds. A remarkable 93% are eager to seek out lesser-known destinations offering authentic cultural experiences, signalling a strong appetite for hidden gems where authentic traditions thrive away from crowded tourist trails. One way to explore these hidden treasures is by using ‘Explore Everywhere’ search feature on Skyscanner, with filter options like ‘underrated destinations’ and ‘art and culture’ to make it easier than ever to find the perfect spot for a unique tradition-rich escape.

      “Indian travellers are moving beyond holidays taken only for leisure. The growing quest for depth has given rise to a new archetype – the culture curious traveller – one who seeks knowledge, connection and fulfilment,” said Neel Ghose, Skyscanner Travel Trends and Destinations Expert. “For them, success is measured in stories carried home that deepen their sense of people and place. Interestingly, our report also highlights that 71% prefer to travel with family, followed by 62% with friends, and 56% with a partner or spouse. This shows travel today is shifting from sights seen, to connections deepened — and Skyscanner’s all-in-one app makes it easier and more affordable to plan those meaningful journeys.” From Observing to Immersing As this cultural wave builds, a few patterns are emerging, showcasing how Indians plan, and experience escapes rooted in tradition. The report shows that nearly 4 in 10 want to explore heritage villages or eco-cultural communities, while 38% are drawn to culinary trails revealing the historic roots of local cuisines. Reflecting on this trend towards hands-on, participatory experiences, Dr. Aditi Rawat, Associate Fellow, Pahle India Foundation, policy think tank advancing research-led ideas on India’s economic development and governance, said, “Cultural tourism is fast becoming a defining lens through which Indian travellers experience their country and the world. The trend is moving towards combining cultural discovery with comfort, luxury, and leisure – a blend that encourages longer stays and deeper engagement. Catalysed by rising accessibility, robust infrastructure, and digital connectivity, it is reshaping travel from passive sightseeing to immersive storytelling, where visitors engage with living heritage, local traditions, and cultural narratives that define each destination.” Safety and Smart Planning Drive Choices • In their sojourns, practical considerations remain front and centre amongst Indian travellers. When choosing a cultural trip: • Safety (45%) tops the list of considerations when choosing a cultural trip, followed by authenticity (33%) and seasonality (31%).

      • 41% travellers start preparing one to two months ahead. Their inspiration is shaped by a mix of influences: 45% turn to social media, 39% rely on friends and family, and 27% use apps like Skyscanner to discover the right destinations and deals.

      • When it comes to finalising plans, value remains top of mind, with 60% saying the best time to book festival flights is their most helpful planning insight, while 58% depend on fare comparisons to make smarter choices.

      To further assist Indians in charting their journeys, Neel Ghose added, “For travellers seeking inspiration, describing your ideal getaway on Skyscanner’s app-only AI feature, Savvy Search can help uncover temple cities, native lands, royal palaces, and more. The tool curates a list of destinations based on the prompts, directing you to Skyscanner's flight search, letting you compare the best prices. And, when it comes to planning, for those looking to make the most of their holiday around a festival, a simple hack is to use the ‘Whole Month’ view to spot the cheapest days to fly around the date! Smart planning choices like these can help unlock cultural experiences without breaking the bank, letting you create memories and returning home with learnings that last a lifetime.” A Broader Shift in Tourism This growing interest is an indicator that culture-led exploration will also steer the future of the country’s tourism industry. Sharing insights on this rising phenomenon and its implications, Dr. Aditi Rawat, said, “This shift is being fulfilled by traditional towns and authentic locale-based experiences that connect travellers with communities and their way of life. Think the Northeast India, with its extraordinary cultural diversity and pristine landscapes, or Kerala, with its backwaters, classical art forms, and Ayurvedic traditions, both now firmly on the radar of discerning tourists. From tribal festivals in Arunachal Pradesh to tea and wellness in Assam, or narrative Kathakali performances in Thrissur, we are witnessing curated experiences true to each destination’s strengths. Coupled with leisure travel and government initiatives such as Dekho Apna Desh, Swadesh Darshan 2.0, and Adopt A Heritage, this cultural discovery is transforming tourism into a powerful custodian of India’s identity. It is revitalising economies, positioning diversity as a global asset, and turning sites and practices into hubs that attract global visitors, empower local communities, and shape the future of India’s tourism economy.” Notes to the Editor: Data based on a recent Skyscanner Cultural Tourism survey conducted from 4 to 11 August 2025, among 2,000 Indian adult travellers. About Skyscanner Skyscanner is a global leader in travel that helps travellers plan and book their trip with ease and confidence. Every month, Skyscanner connects millions of travellers, in 180 countries and 37 languages, to more than 1200 trusted travel partners so they can find flight, hotel or car hire options.

      Founded in 2003, Skyscanner has offices worldwide, in Europe, Asia-Pacific and North America where traveller-first innovations are developed and powered by data and insights. Making use of the latest technology, Skyscanner simplifies the complexity of travel and provides honest and transparent solutions, searching around 100 billion prices every day so travellers can be sure they've seen the best possible options, all in one place.

      About Pahle India Pahle India Foundation is a not-for-profit thinktank founded by Dr. Rajiv Kumar, former Vice Chairman of NITI Aayog. PIF provides a credible, trustworthy, and neutral platform for bringing together government, industry, academia and civil society to enable informed decision making. PIF works closely with these stakeholders to develop and implement policies in various sectors. Supporting the framing of tourism policies of state governments remains a key focus of PIF’s work.

      (1) Skyscanner flight searches from India to Varanasi between 1 January – 31 July 2025 for travel in 2025 compared to the previous year.

      (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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