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    Kerala to stop welfare pension delivery through cooperative banks, shifts to DBT
    China's exports slow slightly in July despite robust demand for high-tech products
    India successfully concludes the Tenth BRICS Industry Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    APEDA Organises BIOFACH INDIA 2026 to Promote India's Certified Organic Products and Expand Global Market Access
    RBI bars banks from disabling mobile devices of defaulting borrowers
    Par panel for early conclusion of India-US trade pact, tariff exemptions on key goods
    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
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    August 7, 2026
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    Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
    Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
    August 7, 2026
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    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
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    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
    August 7, 2026
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    Certified organic export promotion: BIOFACH INDIA facilitates buyer-seller engagement, certification awareness, traceability discussions and international market access.
    BIOFACH INDIA 2026 promotes certified organic exports by providing a platform for Indian organic enterprises to showcase diverse certified products and engage with overseas buyers through structured Buyer-Seller Meets. Technical sessions address organic certification, traceability, sustainability, quality standards, international regulatory requirements and export-market expectations. The initiative supports quality assurance, international market access, export linkages and sustainable agricultural practices across the organic value chain.
    August 6, 2026
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    Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
    Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
    August 6, 2026
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    Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
    An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
    August 6, 2026
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    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
    Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
    August 6, 2026
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    Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
    Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
    August 6, 2026
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    Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
    Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
    Show AI Summary
    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
    Show AI Summary
    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
    Show AI Summary
    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
    Show AI Summary
    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.

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      Congress must disclose who prevented India from mounting military response post-26/11: PM

      October 8, 2025

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      Navi Mumbai, Oct 8 (PTI) Prime Minister Narendra Modi on Wednesday attacked the Congress party demanding it disclose to the nation who prevented India from mounting a military response following the 26/11 Mumbai terror attacks, which were linked to Pakistan.

      Speaking at a function after the opening of the first phase of the Navi Mumbai International Airport (NMIA), Mumbai metro's Aqua Line and other projects, he blamed the Congress-led UPA government (2004-14) for "weakening the fight against terror," which he alleged had "paid a heavy price" on the nation.

      "A Congress leader, who has also been Union home minister, has said a country prevented India's military retaliation post-26/11 Mumbai terror attacks in 2008. The party should clarify," the PM, who is on a two-day Mumbai visit, said.

      Modi was referring to comments made by former Union Home Minister P. Chidambaram, who had himself been in favour of taking military action against Pakistan but pointed out that the UPA government went for diplomatic action, under some pressure from world powers, including America, not to initiate a war. The PM did not mention Chidambaram's name during his address.

      Modi highlighted Mumbai as the financial hub and cosmopolitan city, which has been repeatedly a victim of terror attacks, such as the November 2008 assault by ten well-armed terrorists from Pakistan, which claimed 166 lives, including that of foreign nationals.

      Continuing to target the Congress, Modi alleged the weakness of the grand old party to firmly combat terror made the hands of the terrorists stronger and asserted the country has the right to know who prevented India from proceeding with a military response after the 26/11 attacks.

      "If a top Congress leader, who has been a Union minister, is to be believed, the then UPA government buckled under pressure of a foreign country against attacking Pakistan even though our defence forces were ready and the mood of the nation was to strike (the neighbouring country)," the PM asserted.

      In contrast, Modi maintained that today's India provides a "befitting response to terror attacks and strikes by entering inside the home of enemies." He referred to 'Operation Sindoor' launched against terror hubs following the Pahalgam massacre and said "for us, nothing is more important than the safety and security of our nation and its citizens." Beyond national security, the PM highlighted the new infrastructure as a symbol of 'Viksit Bharat' (Developed India).

      "For us, national policy is the base for politics," he said, adding for the government, every rupee spent on infrastructure is a means to enhance citizens' convenience and capability.

      He contrasted this with a political stream in the country that prioritises power over public welfare and said such individuals obstruct development work and derail projects through scams and corruption.

      Taking a jab at the Maharashtra opposition bloc MVA, he said NMIA had been delayed due to "hurdles in development" and "rampant corruption" under the previous state regime.

      "This (creating hurdles in development) is no less than committing a sin," he said.

      "Gati" (speed) and "Pragati" (development) are the hallmarks of Viksit Bharat where people's welfare is the topmost priority, he said, adding that for the last 11 years, work has been happening in this direction.

      Be it the Vande Bharat trains, expediting the bullet train project, new highways and expressways linking new cities, tunnels, and sea bridges, speed and development can be seen in the country, Modi said, adding the new airport, with the shape of a lotus, is a glimpse of Viksit Bharat.

      The airport is situated on the land of Shivaji Maharaj and it is a symbol of culture and prosperity, Modi said, adding farmers and fisherfolk can get access to global markets because of the airport.

      The PM remarked this new airport will connect Maharashtra’s farmers to supermarkets in Europe and West Asia, enabling fresh produce, fruits, vegetables, and fishery products to reach global markets swiftly besides reducing export costs for nearby small and medium industries that will give a boost to their investment and lead them to establish new enterprises.

      Modi recalled his vision of 2014 when he took over as PM and said he always wanted that even those wearing 'hawaii' chappals (slippers) should be able to travel by air.

      To realize this dream, it was essential to build new airports across the country, he said, adding the Centre took this mission seriously and, over the past 11 years, new airports have been constructed one after another.

      The PM said in 2014, there were 74 airports in the country, and now there are more than 160 airports and added India has become the third-largest domestic aviation market in the world.

      Pointing out that as the number of aircraft increases, the demand for maintenance and repair operations also rises, Modi highlighted India is developing new facilities domestically to meet this need.

      The goal is to establish India as a major MRO (Maintenance, Repair, and Overhaul) hub by the end of this decade, he noted and added this initiative is also creating numerous new employment opportunities for youth.

      "India is the youngest country in the world, and its strength lies in its youth," he said emphasising that every government policy is focused on creating maximum employment opportunities for young people.

      He said efforts are underway to integrate all modes of transport to ensure seamless travel, eliminating the need for commuters to switch modes with difficulty.

      India is progressing towards the vision of 'One Nation, One Mobility', he said, adding the Mumbai One App is another step in this direction, enabling citizens to avoid long queues for tickets.

      "With this app, a single ticket can be used across local trains, buses, metros, and taxis," he said.

      Modi said with the new international airport and the underground metro, the metropolis will be Asia's largest connectivity hub with seamless travel and connectivity due to the Mumbai One app.

      The Prime Minister congratulated the workers and engineers who constructed the 33.5-km-long underground metro in Mumbai while keeping the heritage buildings secure.

      He announced the new airport will be named after Loknete D B Patil, a popular local politician and social activist, and recalled his contribution for the welfare of farmers.

      Modi underscored that empowering the poor, the neo-middle class, and the middle class is a "national priority," asserting their collective strength makes the nation stronger.

      The PM highlighted that recent "next-generation reforms in GST" have made several goods more affordable, which has boosted people's purchasing power.

      Citing market data, he said the recent Navratri season broke multi-year sale figures, with a record number of people buying consumer goods such as scooters, motorbikes, TVs, and washing machines.

      Modi issued a strong call to the nation to embrace indigenously made goods and urged everyone to adopt the mantra, "this is Swadeshi," ensuring it resonates in everywhere.

      Concluding his remarks, the PM praised Maharashtra's role in accelerating India's development and affirmed the governments at both the Centre and state levels will continue to work tirelessly to enhance the capabilities of every town and village.

      The event was attended by dignitaries including Maharashtra Governor Acharya Devvrat, CM Devendra Fadnavis, Union ministers, and Japan's Ambassador to India Keiichi Ono. PTI PTI IAS MR VT SKL RSY

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