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    Rupee falls 8 paise to 95.25 against US dollar in early trade
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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
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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.

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Brazil's judge orders Bolsonaro's arrest for allegedly plotting escape ahead of prison term

November 22, 2025

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Sao Paulo, Nov 22 (AP) Brazil's Supreme Court ordered the preemptive arrest of former President Jair Bolsonaro on Saturday, with a judge claiming he was intent on escaping just days before he was set to begin his 27-year prison sentence for leading a coup attempt.

The 70-year-old politician was taken to the headquarters of the country's federal police in the capital, Brasilia, from his house arrest.

Supreme Court Justice Alexandre de Moraes, who oversaw the case, said in his ruling that Bolsonaro's ankle monitor, which he has worn since July 18 for being deemed a flight risk, was violated at 0:08 am on Saturday.

“That information shows the intent of the convict to break the ankle monitoring to assure his escape is successful, which would be made easier by the confusion that would be caused by a demonstration organised by his son,” the justice said.

He said there was a chance of Bolsonaro fleeing to embassies in his neighbourhood to request political asylum. The Supreme Court justice also mentioned other defendants in the coup case and political allies of the former president, leaving Brazil to avoid jail.

The Supreme Court panel hearing Bolsonaro's case will vote on De Moraes' order in an extraordinary session on Monday.

De Moraes said Bolsonaro's arrest “should be made with all respect to the dignity of former President Jair Messias Bolsonaro, without the use of handcuffs and without any media exposition.” Bolsonaro's aide Andriely Cirino confirmed to The Associated Press that the arrest took place around 6 am on Saturday, only hours after de Moraes made the unexpected decision.

The former president was taken from his house in a gated community in the upscale Jardim Botanico neighbourhood to the federal police headquarters, Cirino said.

De Moraes mentioned in his ruling a video published this week by Sen. Flavio Bolsonaro, one of the former president's sons, in which he egged on supporters to take to the streets in his father's defence.

“The video shot by Flavio Bolsonaro stimulates the disrespect to the constitutional text, to the judicial decision and to (democratic) institutions, showing there are no limits for the criminal organisation in its attempt to create chaos and conflict in this country, in a total disrespect to democracy,” de Moraes wrote.

“Brazil's democracy has reached sufficient maturity to steer away and prosecute pathetic illegal initiatives to defend the criminal organisation that is responsible for a coup d'etat attempt in Brazil,” he added.

Bolsonaro's allies vow to defend him ------------------------------------------- Some of Bolsonaro's supporters, who claim he is being politically persecuted, are expected to rally outside the federal police headquarters throughout the weekend.

Sóstenes Cavalcante, leader of Bolsonaro's party in the lower house, said in a video shared with The Associated Press that the former president is innocent and accused de Moraes of showing “psychopathy at the highest level.” “We will always stand by your side. Stay strong,” he said, addressing Bolsonaro. “We will respond appropriately.” Former first lady Michelle Bolsonaro vowed on social media that they “will not give up on our nation.” “I believe in God's justice. Human justice, as we have seen, can't hold anymore,” she wrote on Instagram.

Fabio Wajngarten, Bolsonaro's former press adviser and lawyer, called the decision to arrest him “a terrible stain on the institutions” in a video posted on X. “It's a shame. I hope this is reviewed soon,” he said.

He also claimed that Bolsonaro's ankle monitoring device was working perfectly as of Saturday morning. “How could something that was broken, violated, be functioning normally nine hours later?” he wrote.

“The president had dinner — a soup — yesterday with four brothers and brothers-in-law, took medication for hiccups, felt drowsy and lay down around 10 p.m. None of his sons were at the house.” Renato Bolsonaro, the former president's brother, also criticised the arrest, saying in an Instagram video: “So we can't even gather to cry out for justice or pray for our president? Do they want to take away our right to express ourselves?” A divisive figure in Brazil's politics ----------------------------------------- Bolsonaro was placed under house arrest in early August, weeks before he was convicted in his coup trial. His lawyers were pleading with Brazil's Supreme Court to keep him at home to serve his sentence, citing his poor health.

Local media reported that Bolsonaro, who was Brazil's president from 2019 to 2022, was expected to begin serving his sentence sometime next week after the far-right leader exhausted all appeals of his conviction for leading a coup attempt.

Saturday's preemptive arrest does not mean Bolsonaro will remain at the federal police headquarters to serve his sentence. Brazilian law requires that all convicts start their sentences in prison.

The former president and several of his allies were convicted by a panel of Supreme Court justices for attempting to overthrow Brazil's democracy following his 2022 election loss to President Luiz Inacio Lula da Silva. Prosecutors said the coup plot included plans to kill Lula and to encourage an insurrection in early 2023.

Bolsonaro was also found guilty on charges of leading an armed criminal organisation and attempting the violent abolition of the democratic rule of law. Bolsonaro has denied wrongdoing.

He remains a key figure in Brazilian politics, despite being ineligible to run again at least until 2030, after a separate ruling by Brazil's top electoral court. Polls show he would be a strong candidate in next year's vote if allowed to run.

Bolsonaro is an ally of US President Donald Trump, who has called his trial a “witch hunt.” Bolsonaro was mentioned in a July order by the US administration raising tariffs on several Brazilian exports by 50 per cent. Trump on Friday dropped most of the higher tariffs on Brazilian exports. (AP) SKS SKS

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