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    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'
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    Technology, transparency key for urban cooperative banks to stay competitive: Shah
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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.
    August 7, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.
    August 7, 2026
    Show AI Summary
    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.
    August 7, 2026
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    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
    Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.

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      India upgrades diplomatic presence in Kabul; announces series of development measures for Afghanistan

      October 10, 2025

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      New Delhi, Oct 10 (PTI) India on Friday announced the upgrading of its technical mission in Kabul to the status of an embassy and decided to restart its development projects in Afghanistan with External Affairs Minister S Jaishankar appreciating the Taliban set-up for showing sensitivity towards New Delhi's security concerns.

      Jaishankar made the twin announcements during his wide-ranging talks with visiting Afghan Foreign Minister Amir Khan Muttaqi for the first time, signalling a new approach in New Delhi's ties with Kabul though it has not yet recognised the Taliban set-up that came to power in August 2021.

      Muttaqi, on a six-day trip to India, said Afghanistan will not allow any elements to use its territory against New Delhi's interests and identified the Daesh terror group (ISIS) as the main challenge for the region. He added that Kabul is at the frontlines of this struggle.

      Since the Taliban came to power, New Delhi has been insisting that Afghan soil must not be used for any terrorist activities against any country.

      The Afghan foreign minister also invited Indian companies to invest in the mining and mineral sector in his country, saying it would help strengthen the bilateral trade relations.

      In the talks, the two sides welcomed the commencement of the India-Afghanistan air freight corridor, which is expected to enhance direct trade and commerce between the two countries.

      Hours after Jaishankar announced an upgrade of its diplomatic presence in Kabul, Muttaqi told a select group of journalists that Kabul will also send diplomats to India as part of step-by-step efforts to improve the bilateral ties.

      India had withdrawn its officials from its embassy in Kabul after the Taliban seized power in August 2021. In June 2022, India re-established its diplomatic presence in the Afghan capital by deploying a "technical team".

      In his opening remarks at the meeting, Jaishankar listed cross-border terrorism as a shared threat for both the countries and said India and Afghanistan must coordinate efforts to combat the menace.

      "Your visit marks an important step in advancing our ties and affirming the enduring friendship between India and Afghanistan," Jaishankar told Muttaqi in his opening remarks at the meeting.

      "As a contiguous neighbour and a well-wisher of the Afghan people, India has a deep interest in your development and progress," he said.

      India's longstanding partnership that has seen so many Indian projects in Afghanistan stands renewed, the external affairs minister announced.

      Jaishankar said both India and Afghanistan have a common commitment towards growth and prosperity.

      "However, these are endangered by the shared threat of cross-border terrorism that both our nations face. We must coordinate efforts to combat terrorism in all its forms and manifestations," he said.

      "We appreciate your sensitivity towards India's security concerns. Your solidarity with us in the aftermath of the Pahalgam terrorist attack was noteworthy," the minister added.

      Jaishankar said India is fully committed to the sovereignty, territorial integrity and independence of Afghanistan.

      "Closer cooperation between us contributes to your national development, as well as regional stability and resilience. To enhance that, I am pleased to announce today the upgrading of India's Technical Mission in Kabul to the status of embassy of India," he said.

      In the interaction with the small group of journalists, Muttaqi said Kabul will soon send its diplomats to New Delhi.

      "The foreign minister (S Jaishankar) said you can send diplomats to New Delhi now. When we go back, we will select people and send them," he said.

      Asked if the Taliban regime will appoint an ambassador, Muttaqi said: "we will now send diplomats and gradually the contacts will increase." Till now, the Afghan missions in India have officials who were largely appointed by the previous Ashraf Ghani government.

      In his media interaction, the Afghan foreign minister said India and Afghanistan should work together to address hurdles in development of the Chabahar port.

      "Both Afghanistan and India should try to remove all problems and obstacles in this route, because there are some restrictions on this path from America," he said.

      Jaishankar said India is now ready to commit to six new projects, the details of which can be announced soon.

      "A gift of 20 ambulances is another gesture of goodwill and I would like to hand over five of them to you personally as a symbolic step," he said.

      The external affairs minister also appreciated Kabul inviting Indian companies to explore mining opportunities in Afghanistan and said the proposal can be discussed further.

      "We have a shared interest in boosting trade and commerce. I am glad to note the commencement of additional flights between Kabul and New Delhi," he said.

      In his remarks, Jaishankar described as a matter of deep concern the plight of "forcibly repatriated" Afghan refugees and said their dignity and livelihood is important.

      "India agrees to help construct residences for them and continue providing material aid to rebuild their lives," he said.

      Muttaqi described India as an important country of the region and one that has always stood by Afghan people and assisted them in many areas.

      "We will not allow any (element) to threaten anyone else or use the territory of Afghanistan against others. Daesh is a challenge for the region and Afghanistan is at the frontlines of this struggle," he said.

      "Luckily, the Islamic Emirate of Afghanistan, its forces and its strong struggle against it has eradicated it from Afghanistan. The need of our region is that we combat this menace together and this is a need for the common prosperity of both nations," he said.

      Considering Afghanistan's pressing requirement for economic recovery and development, both sides agreed that India would further deepen its engagement in development projects, particularly in the sectors of healthcare, public infrastructure and capacity-building.

      As part of India's ongoing healthcare cooperation with Afghanistan, several projects are being undertaken, including the establishment of a thalassemia centre, a modern diagnostic centre, and replacement of the heating system at the Indira Gandhi Institute of Child Health (IGICH) in Kabul, according to a joint statement.

      Additionally, India will construct a 30-bed hospital in Kabul's Bagrami district, an oncology centre and a trauma centre in Kabul, and five maternity health clinics in the provinces of Paktika, Khost, and Paktia.

      India will also continue to extend medical assistance and provide high-quality healthcare treatment to Afghan nationals, the statement said.

      It said both sides unequivocally condemned all acts of terrorism emanating from regional countries and underscored the importance of promoting peace, stability, and mutual trust in the region.

      "Both sides emphasised respect for each other's sovereignty and territorial integrity," it said.

      Jaishankar appreciated the Afghan side's understanding of India's security concerns and the Afghan Foreign Minister reiterated the commitment that the Afghan government will not allow any group or individual to use the territory of Afghanistan against India, it added. PTI MPB ZMN

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