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    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
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    Raymond Limited reports a healthy Q1 FY27 performance
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    Technology, transparency key for urban cooperative banks to stay competitive: Shah
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    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
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    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
    August 9, 2026
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
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    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
    Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
    August 8, 2026
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
    August 8, 2026
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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    Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
    Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
    August 8, 2026
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    Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
    An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
    August 8, 2026
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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.
    August 7, 2026
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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.
    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.

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      Leader of Carbon Markets Turns Novelist with a World to Unsettle

      September 27, 2025

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      India, September 27, 2025: Sustainability and AI product leader Dr. Nripanka Das debuts as novelist Rowan Blackwood; his thriller The Babel Paradox heads to the Frankfurt Book Fair - a rare tech-to-literature pivot with global stakes. In the fluorescent hush of an office long past quitting time, the screen flashed a subject line that made him stand still: Frankfurter Buchmesse – Selection Confirmation. The air-conditioning thrummed. Somewhere, a coffee machine clicked. Dr. Nripanka Das - better known in energy-tech circles for taming data streams and carbon ledgers opened the email and read it twice, then once more for its edges. A quiet "okay" escaped him. He closed the laptop, reached for a notepad with draft scene beats in a spare engineer's hand and underlined a single word: Real.

      Days later, a first box of author's copies landed with the soft thud of freighted possibility. Matte cover, clean serif type, a title that feels like a warning and a puzzle: The Babel Paradox: Language, Conspiracy, and the End of Reality. He lifted one volume, turned it spine-out the way inventory managers do, then let the pages riffle like cards. The paper had a faint linen bite. The ink carried that just-printed scent - chemistry, cotton, intent.

      For a figure widely associated with carbon markets, digital MRVand the difficult plumbing of industrial decarbonization, the sight bordered on subversive: an engineer of systems publishing a literary thriller under the pen name Rowan Blackwood, now headed to the world's largest book fair. Frankfurt, October 15–19, 2025 - where rights are traded, translations seeded, and a debut can find its passport.

      From Labs to Literature Dr. Nripanka Das is a sustainability and AI product leader whose public work lives at the intersection of emissions data, verification techand energy innovation. His debut novel, The Babel Paradox, appears under the author name Rowan Blackwood and has been selected for presentation at the 2025 Frankfurt Book Fair. The moment matters: a technologist crossing into literary fiction at the industry's most prestigious marketplace, where the future of a book - its editions, territories, and readerships, is negotiated face to face.

      If the lab bench and the writer's desk share a temperament, Das embodies it: constraint, iteration, verification. In product reviews, he is known for refusing fuzzy terms - show the runbook, show the baseline. That same discipline turned inward when sentences, not sensors, became the substrate. "Engineering taught me habits I couldn't unlearn," he says. "I version-control scenes. I test dialogue against the system it belongs to. If a character lies, I ask what it costs the network." The result is prose that moves like a model under load - stress-tested, then streamlined.

      The path from carbon registries and data pipelines to pages concerned with power and speech looks shorter up close. Markets and languages are both rule-bound, socially negotiated and ripe for misuse. In The Babel Paradox, the audit trail becomes narrative tension; the checksum becomes a clue; the governance meeting, a battleground where words decide material outcomes.

      The Book at a Glance The Babel Paradox hunts the fracture line where language ceases to be neutral and becomes a weaponized protocol. The novel threads high-stakes intrigue through hidden systems - surveillance architectures, academic rivalries, shadowed research and asks whether a society that outsources meaning to machines can still tell truth from consensus. It is less about secret societies than about visible institutions acting in secret ways, less code-cracking than contract-reading. Characters grapple with the price of precisionand the risks of claritywhen clarity threatens power.

      Why Frankfurt, Why Now Frankfurter Buchmesse is the industry's engine room - an international rights marketplace where scouts, editors and agents compress years of emails into five intense days. For a debut, selection signals professional intent: visibility before the global trade, proximity to translation conversations and a chance to position the work in a taxonomy beyond national borders. Frankfurt's scale matters because it disciplines hype. You have a book, or you don't. You have a pitch that survives a hallway test, or you do not. For The Babel Paradox, the fair offers exactly the ecosystem it interrogates - languages colliding, meanings negotiated, reality minted from contracts and conversation.

      "Frankfurt is where stories either acquire second lives or prove they only had one," Das says. "I wanted the book tested where no one owes me politeness." Private Passion, Public Debut Colleagues knew him as a rigorous builder of products; fewer knew about the stack of marked-up drafts that followed him city to city. "It was always there," he says, "but it stayed in the margins because the workday took the center column." The center has shifted. Publishing under Rowan Blackwood allowed a firewall at first - new name, new channel, the necessary freedom to fail in public without dragging a résumé behind it. The firewall didn't last long; the announcement leaked through Instagram posts and whisper networks, and then Frankfurt made secrecy moot.

      He describes the pivot not as reinvention but as extension. "If sustainability work is about accountability for claims," he says, "then fiction is an extreme sport of claims. Every sentence asserts a reality. You have to earn it." Industry Angle: Where Systems Meet Stories There is a small but telling pattern of technologists writing fiction that refuses to excuse the infrastructures we live inside. The Babel Paradox sits in that lineage, but with an unusual precision about governance - the way policies, standards, and datasets harden into social facts. A sustainability and AI practitioner writing literary fiction carries a particular charge in 2025, a year dense with climate reporting requirements and public debates about algorithmic authority. The book does not speechify; it builds a world where the line between signal and noise is a design choice, then forces its characters to live with that choice.

      Frankfurt, with its translation ecosystem, intensifies this effect. Language as theme meets language as logistics. The novel's preoccupation with meaning across domains - legal, technical, colloquial- becomes a practical question of how idioms travel, which metaphors survive, and where a story must recompile for another culture's operating system.

      The Stakes of Precision Das's day job taught him that numbers can be honest and still be wrong if they summarize the wrong thing. The novel takes that lesson to the level of plot. A text can be lyrical and still mislead; a dataset can be enormous and still be trivial. What matters is the schema - what you count as real. In The Babel Paradox, characters collide over schemas: academic definitions, state narratives, corporate euphemisms. The book's suspense rarely comes from a gun in the drawer. It comes from the clause you didn't read.

      "Language isn't a mirror; it's an actuator," he says. "It moves systems and people." What Readers Will Recognize Audiences who come for conspiracy will find craft: clean lines, controlled heat. Readers from the worlds of policy, tech, or markets will recognize the granular decisions - names of committees, behaviors inside conferences, the way careers hinge on phrasing. But the novel keeps its promises as fiction first. It knows that stakes only matter when they land on a human scale: two people in a quiet office bargaining with a truth neither wants to say out loud.

      If his carbon work measures what the world emits, his fiction measures what the world permits and with The Babel Paradox stepping onto Frankfurt's floor, Dr. Nripanka Das matches engineering precision to literary intent, drafting a future where meaning has to meet spec.

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

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