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    Rupee falls 8 paise to 95.25 against US dollar in early trade
    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
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    August 10, 2026
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    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
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    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
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    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
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    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
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    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
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    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Scania strengthens India growth strategy with the appointment of GMMCO (CKA Birla Group) as a new dealer partner

      October 31, 2025

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      The partnership with GMMCO marks a major landmark in Scania’s renewed India strategy, strengthening its regional presence and driving growth across all business segments. Bengaluru, 31th October, 2025: – Scania Commercial Vehicles India Pvt. Ltd. today announced the appointment of GMMCO Limited, part of the CKA Birla Group, as its new authorized dealer partner for Northern, Eastern and Central India. This partnership marks a key milestone in Scania’s renewed India growth strategy, reinforcing its commitment to strengthen regional coverage, enhance customer experience, and drive expansion across all business segments.

      Under this arrangement, GMMCO will be responsible for sales and service support for projects located across the Northern, Eastern and Central regions of India, while PPS Motors will continue to represent Scania in the Southern and Western territories. This strategic allocation ensures seamless national coverage, enhanced customer support, and faster response times, enabling Scania to deliver an even higher standard of service across the country.

      This collaboration represents Scania’s transition from a direct sales model to a fully dealer-driven ecosystem. Going forward, Scania will focus on product planning, innovation, and lead generation, while its dealers will independently manage sales, service, invoicing, documentation, aftermarket operations, demo fleets, and inventory. This decentralized approach enhances operational agility, improves accountability, and ensures customer-centric responsiveness through dedicated regional expertise.

      Mr. Silvio Munhoz, Managing Director, Scania Commercial Vehicles India Pvt. Ltd., commented, “The appointment of GMMCO marks an important step in Scania’s India growth journey. GMMCO’s strong industry presence, wide service network, and customer-first philosophy make them an ideal partner as we expand into new markets and business areas. This partnership reinforces our long-term vision for India and lays a solid foundation for our next phase of growth, driven by the Scania Super range and our focus on sustainable transport solutions.” Driving a Shift from Selling Products to Delivering Complete Solutions.

      Keeping in line with Scania’s global strategy of selling solutions rather than products, this partnership underscores the company’s commitment to offering end-to-end value propositions that go beyond vehicle supply. Scania’s solution-based approach encompasses application-specific product selection, tailor-made service and maintenance packages, customized financial solutions, and continuous performance optimization through connected services. With the appointment of GMMCO, Scania aims to accelerate this “solution sales” concept through a dedicated, focused, and customer oriented dealer network, ensuring that every Scania customer receives a transport solution precisely tailored to their operational and financial needs.

      Mr. Chandrashekar V, Managing Director & CEO, GMMCO Ltd., added, “We are delighted to partner with Scania, a global leader synonymous with innovation, performance, and sustainability. This collaboration reflects GMMCO’s commitment to delivering comprehensive, technology-driven solutions that empower our customers across sectors. With our deep industry reach, strong service infrastructure, and relentless focus on operational excellence, we are confident of driving Scania’s next phase of growth in India and creating exceptional value for our shared customers. " Scania’s expanding dealer network will cater to a wide spectrum of business segments, including construction, long haulage, mining, and special applications, thereby reaching a broader customer base with complete transport solutions. Both GMMCO and PPS will operate within their respective territories to provide focused regional engagement, enhanced customer access, and strong aftermarket support. Through this network expansion, Scania reiterates its commitment to strengthening customer reach, driving sustainable mobility, and building long-term partnerships that deliver cleaner, energy efficient, and future-ready transport solutions. With innovative technology, global best practices, and a clear long-term vision, Scania continues to power India’s journey toward smarter, safer, and greener transportation.

      For further information, please contact: Madhumathi N Head – Corporate Communications Mobile: +918925506107 Email: [email protected] About Scania Commercial Vehicle India Pvt. Ltd.

      With a rich heritage spanning over 130 years in mobility solutions, Scania Commercial Vehicles AB is a global leader, renowned for its world-class products and services that cater to diverse transportation markets worldwide. Scania's global workforce of approximately 50,000 employees spans more than 100 countries with its sales and service network customised to meet the specific needs of its customers. The company’s substantial research and development activities are concentrated in key locations such as Sweden, India, and Brazil. Scania remains a leading supplier of engines for industrial, marine, and power generation purposes, cementing its commitment to social, environmental, and economic sustainability. This commitment is highlighted by the adaptability of all Scania vehicles to run on alternative or renewable fuels.

      In 2007, Scania made a significant entry into the Indian market, primarily focusing on revolutionising the mining and construction segments. By 2011, Scania Commercial Vehicles India Pvt Ltd. was established, solidifying its presence in India with an automotive assembly facility at Narsapura, near Bangalore, Karnataka.

      Remaining steadfast in its commitment to India, Scania honed its attention towards mining solutions, affirming mining as the core focus of its operations in India. The company inaugurated a state-of-the-art manufacturing facility sprawled over 37 acres, covering a regional production centre of 125,794 square feet, dedicated to delivering cutting-edge solutions. In line with its assurance to offering comprehensive support, Scania India emphasises its parts and services segment. It has bolstered its service excellence with the assistance of the Nagpur Warehouse and robust service network throughout the country. This strategic initiative aims to significantly reduce lead times for customers, enhance service levels, and ensure better parts availability, focusing on delivering a superior customer experience.

      Scania India envisions itself as a vital partner in India's journey to develop smart and sustainable mobility solutions, driven by locally produced biofuels, significantly reducing carbon emissions and focusing on environmentally conscious transport solutions.

      About GMMCO Gmmco, a 5000+ crore enterprise established in 1967 and part of the prestigious CKA Birla Group, stands among India’s foremost end-to-end integrated solution provider for infrastructure, mining, energy and transportation sectors. Over the past five decades, Gmmco has played a pivotal role in building India’s industrial backbone - empowering projects that move earth, generate power, and drive national progress.

      With deep industry reach and network, Gmmco offers a comprehensive portfolio of solutions encompassing equipment sales, service, rebuilds, digital technology integration, and project management - delivering reliability, efficiency, and lifecycle value under one unified brand promise. Its 2,800-plus professionals combine deep technical expertise with customer-first agility, ensuring unmatched service excellence across every stage of the asset lifecycle.

      Guided by the CKA Birla Group’s values of trust, integrity, and innovation, Gmmco continues to redefine what it means to be a partner in progress. Recognized as a Great Place to Work for seven consecutive years and consistently featured among India’s Top 100 Workplaces, Gmmco is committed to driving sustainable growth, powering nation-building, and enabling its customers to achieve new frontiers of performance.

      (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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