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    India weathered Hormuz disruption without fuel shortages: Puri
    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
    DRI intensifies vigil along India's North-Eastern Frontier
    Vijayan slams Kerala govt's move to end doorstep pension delivery through cooperative banks
    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
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    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
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    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
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    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    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.
    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.
    August 7, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Trump paints Zelenskyy into corner with his new plan to end Russia's war on Ukraine

      November 22, 2025

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      Washington, Nov 22 (AP) With his new 28-point plan to end Russia's war in Ukraine, President Donald Trump is resurfacing his argument that Ukrainian President Volodymyr Zelenskyy doesn't “have the cards” to continue on the battlefield and must come to a settlement that heavily tilts in Moscow's favour.

      Trump, who has demonstrated low regard for Zelenskyy dating back to his first term, said Friday he expects the Ukrainian leader to respond to his administration's new plan to end the war by next Thursday.

      “We think we have a way of getting peace,” Trump told reporters in an Oval Office appearance. “He's going to have to approve it.” Buffeted by a corruption scandal in his government, battlefield setbacks and another difficult winter looming as Russia continues to bombard Ukraine's energy grid, Zelenskyy says Ukraine is now facing perhaps the most difficult choice in its history.

      Zelenskyy has not spoken with Trump since the plan became public this week, but has said he expects to talk to the Republican president in coming days. It's likely to be another in a series of tough conversations the two leaders have had over the years.

      The first time they spoke, in 2019, Trump tried to pressure the then newly minted Ukrainian leader to dig up dirt on Joe Biden ahead of the 2020 election. That phone call sparked Trump's first impeachment.

      Trump made Biden's support for Ukraine a central issue in his successful 2024 campaign, saying the conflict had cost US taxpayers too much money and vowing he would quickly bring the war to an end.

      Then early this year in a disastrous Oval Office meeting, Trump and Vice President JD Vance tore into Zelenskyy for what they said was insufficient gratitude for the more than $180 billion the US had appropriated for military aid and other assistance to Kyiv since the start of the war. That episode led to a temporary suspension of US assistance to Ukraine.

      And now with the new proposal, Trump is pressing Zelenskyy to agree to concessions of land to Moscow, a massive reduction in the size of Ukraine's army, and agreement from Europe to assert that Ukraine will never be admitted into the NATO military alliance.

      “Now Ukraine may find itself facing a very difficult choice: either loss of dignity, or the risk of losing a key partner,” Zelenskyy said in a video address Friday.

      At the centre of Trump's plan is the call on Ukraine to concede the entirety of its eastern Donbas region, even though a vast swath of that land remains in Ukrainian control.

      Analysts at the independent Institute for the Study of War have estimated it would take several years for the Russian military to completely seize the territory, based on its current rate of advances.

      Trump, nevertheless, insists that the loss of the region — which includes cities that are vital defence, industrial and logistics hubs for Ukrainian forces — is a fait accompli.

      “They will lose in a short period of time. You know so,” Trump said Friday when asked during a Fox News Radio interview about his push on Ukraine to give up the territory. “They're losing land. They're losing land.” The Trump proposal was formally presented to Zelenskyy in Kyiv on Thursday by Dan Driscoll, the US Army secretary. The plan itself was a surprise to Driscoll's staffers, who were not aware as late as Wednesday that their boss would be going to Ukraine as part of a team to present the plan to the Ukrainians.

      Army officials walked away from that meeting with the impression that the Ukrainians were viewing the proposal as a starting point that would evolve as negotiations progressed, according to a US official, who spoke on condition of anonymity to discuss the sensitive talks.

      It's unclear how much patience Trump has for further negotiation. White House press secretary Karoline Leavitt said Thursday that Trump's new plan reflects “the realities of the situation” and offers the “best win-win scenario, where both parties gain more than they must give.” Asked about Zelenskyy's initial hesitant response to the proposal, Trump recalled the February Oval Office blow-up with Zelenskyy: “You remember, right in the Oval Office, not so long ago, I said, You don't have the cards.'” The mounting pressure from Trump comes as Zelenskyy is dealing with fallout over $100 million in kickbacks for contracts with the state-owned nuclear energy company. The scandal led to resignations of top Cabinet ministers and implicated other Zelenskyy associates.

      Konstantin Sonin, a political economist and Russia expert at the University of Chicago, said “what Donald Trump is certainly extremely good at is spotting weak spots of people.” One of the 28 elements of Trump's proposal calls for elections to be held within 100 days of enactment of the agreement.

      “I think it's a rationalistic assessment that there is more leverage over Zelenskyy than over Putin,” Sonin said. He added, “Zelenskyy's back is against the wall” and “his government could collapse if he agrees” to the US proposal.

      All the while, Ukraine is increasingly showing signs of strain on the battlefield after years of war against a vastly larger and better equipped Russian military. Ukraine is desperately trying to fend off relentless Russian aerial attacks that have brought rolling blackouts across the country on the brink of winter.

      Kyiv is also grappling with doubts about the way ahead. A European plan to finance next year's budget for Ukraine through loans linked to frozen Russian funds is now in question.

      The Trump proposal in its current form also includes several elements that would cut deeply into Ukrainian pride, said David Silbey, a military historian at Cornell University.

      One provision calls on Russia and Ukraine to abolish “all discriminatory measures and guarantee the rights of Ukrainian and Russian media and education,” and “all Nazi ideology and activities must be rejected and prohibited.” That element could be seen by the Ukrainian side as giving credence to Putin's airing of distorted historical narratives to legitimize the 2022 invasion.

      Putin has said the war is in part an effort to “denazify” Ukraine and complained of the country's “neo-Nazi regime” as a justification for Russia's invasion. In fact, in Ukraine's last parliamentary election in 2019, support for far-right candidates was 2%, significantly lower than in many other European countries.

      The plan's provision is “very clearly an attempt to build up Putin's claim to Russian cultural identity within Ukraine,” Silbey said. He added, “From territory loss to the substantial reduction of the Ukrainian military to cultural concessions that have been demanded, I just don't think Zelenskyy could do this deal and look his public in the eye again.” (AP) SCY SCY

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