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    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
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    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
    Show AI Summary
    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
    Show AI Summary
    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
    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
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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.

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      Feeling hopeless in custody, many drop claims to remain in US, leave voluntarily

      October 12, 2025

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      Seattle, Oct 12 (AP) Ramon Rodriguez Vazquez was a farmworker for 16 years in southeast Washington state, where he and his wife of 40 years raised four children and 10 grandchildren. The 62-year-old was a part of a tight-knit community and never committed a crime.

      On Feb. 5, immigration officers who came to his house looking for someone else took him into custody. He was denied bond, despite letters of support from friends, family, his employer and a physician who said the family needed him.

      He was sent to a US Immigration and Customs Enforcement detention centre in Tacoma, Washington, where his health rapidly declined in part because he was not always provided with his prescription medication for several medical conditions, including high blood pressure. Then there was the emotional toll of being unable to care for his family or his sick granddaughter. Overwhelmed by it all, he finally gave up.

      At an appearance with an immigration judge, he asked to leave without a formal deportation mark on his record. The judge granted his request, and he moved back to Mexico, alone.

      His case is an exemplar of the impact of the Trump administration's aggressive efforts to deport millions of migrants on an accelerated timetable, casting aside years of procedure and legal process in favour of expedient results.

      Similar dramas are playing out at immigration courts across the country, accelerating since early July, when ICE began opposing bond for anyone detained regardless of their circumstances.

      “He was the head of the house, everything — the one who took care of everything,” said Gloria Guizar, 58, Rodriguez's wife. “Being separated from the family has been so hard. Even though our kids are grown, and we've got grandkids, everybody misses him.” Leaving the country was unthinkable before he was held in a jail cell. The deportation process broke him.

      Self-deport or we will deport you --------------------------------------- It is impossible to know how many people left the US voluntarily since President Donald Trump took office in January because many leave without telling authorities. But Trump and his allies are counting on “self-deportation,” the idea that life can be made unbearable enough to make people leave voluntarily.

      The Justice Department's Executive Office for Immigration Review, which oversees immigration courts, said judges granted “voluntary departure” in 15,241 cases in the 12-month period that ended Sept. 30, allowing them to leave without a formal deportation mark on their record or bar to re-entry. That compares with 8,663 voluntary departures for the previous fiscal year.

      ICE said it carried out 319,980 deportations from Oct. 1, 2024, to Sept. 20. Customs and Border Protection declined to disclose its number and directed the question to the Department of Homeland Security.

      Secretary Kristi Noem said in August that 1.6 million people have left the country voluntarily or involuntarily since Trump took office. The department cited a study by the Centre for Immigration Studies, a group that advocates for immigration restrictions.

      Michelle Mittelstadt, spokesperson for the Migration Policy Institute, a nonpartisan think tank, said 1.6 million is an over-inflated number that misuses the Census Bureau data.

      The administration is offering USD 1,000 to people who leave voluntarily using the CBP Home app. For those who don't, there is a looming threat of being sent to a third country like Eswatini, Rwanda, South Sudan or Uganda.

      Department of Homeland Security Assistant Secretary Tricia McLaughlin said the voluntary departures show that the administration's strategy is working and is keeping the country safe.

      “Ramped-up immigration enforcement targeting the worst of the worst is removing more and more criminal illegal aliens off our streets every day and is sending a clear message to anyone else in this country illegally: Self-deport or we will arrest and deport you,” she said in a statement sent to The Associated Press.

      “They treat her like a criminal” ------------------------------------ A Colombian woman dropped her asylum claim at a June appearance in a Seattle immigration court, even though she was not in custody.

      “Your lawyer says you no longer wish to proceed with your asylum application,” the judge said. “Has anyone offered you money to do this?” he asked. “No, sir,” she replied. Her request was granted.

      Her US citizen girlfriend of two years, Arleene Adrono, said she planned to leave the country as well.

      “They treat her like a criminal. She's not a criminal,” Adrono said. "I don't want to live in a country that does this to people.” At an immigration court inside the Tacoma detention centre, where posters encourage migrants to leave voluntarily or be forcibly deported, a Venezuelan man told Judge Theresa Scala in August that he wanted to leave. The judge granted voluntary departure.

      The judge asked another man if he wanted more time to find a lawyer and if he was afraid to return to Mexico. “I want to leave the country,” the man responded.

      “The court finds you've given up all forms of relief,” Scala said. “You must comply with the government efforts to remove you.” “His absence has been deeply felt” ---------------------------------------- Ramon Rodriguez crossed the US border in 2009. His eight siblings, who are US citizens, lived in California, but he settled in Washington state. Grandview, population 11,000, is an agricultural town that grows apples, cherries, wine grapes, asparagus and other fruit and vegetables.

      Rodriguez began working for AG Management in 2014. His tax records show he made USD 13,406 that first year and by 2024, earned USD 46,599 and paid USD 4,447 in taxes.

      “During his time with us, he has been an essential part of our team, demonstrating dedication, reliability, and a strong work ethic," his boss wrote in a letter urging a judge to release him from custody. "His skills in harvesting, planting, irrigation, and equipment operation have contributed significantly to our operations, and his absence has been deeply felt.” His granddaughter suffers from a heart problem, has undergone two surgeries and needs a third. Her mother doesn't drive, so Rodriguez transported the girl to Spokane for care. The child's paediatrician wrote a letter to the immigration judge encouraging his release, saying that without his help, the girl might not get the medical care she needs.

      The judge denied his bond request in March. Rodriguez appealed and became the lead plaintiff in a federal lawsuit that sought to allow detained immigrants to request and receive a bond.

      On September 30, a federal judge ruled that denying bond hearings for migrants is unlawful. But Rodriguez won't benefit from the ruling. He's gone now and is unlikely to come back. (AP) SKS SKS

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