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    Rupee settles with 5 paise gain at 95.17 against US dollar
    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
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    August 7, 2026
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    Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
    Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
    August 7, 2026
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    Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
    Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
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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
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    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
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    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
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    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.

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      Vedanta presents Jaigarh Heritage Festival 2025 with Esteemed Sponsors

      December 6, 2025

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      The Manganiyar Seduction New Delhi [India], December 6: The Jaigarh Heritage Festival 2025 returns for its second edition, proudly presented by Vedanta, one of the world’s leading critical minerals, energy transition metals, oil & gas, power and technology conglomerates. Under the guidance of Sawai Padmanabh Singh of Jaipur and produced by Teamwork Arts, the festival showcases Rajasthan’s rich traditions through music, dance, heritage walks, craft workshops, and culinary experiences.

      As the Presenting Partner, Vedanta stands at the forefront of the Festival, with its long-standing commitment to preserving heritage and uplifting communities. The Festival reflects Vedanta’s enduring focus on promoting art, culture, and heritage, alongside empowering communities through sustainable livelihood opportunities. Through its subsidiaries Hindustan Zinc Ltd. and Cairn Oil & Gas, Vedanta has made a significant multi-dimensional contribution to Rajasthan, from driving sustainable growth to enabling economic and community development. Hindustan Zinc Ltd., the world’s largest integrated zinc producer and among the top five global silver producers, is recognised for its operational excellence, innovation, and ESG leadership. Cairn Oil & Gas, India’s largest private oil and gas exploration and production company, contributes over 25% of the nation’s domestic crude oil output.

      Vedanta’s dedication to community empowerment is reflected in programs such as support for women-led micro-enterprises through Sakhi and Jiji Bai in Rajasthan, the establishment of over 10,000 modern anganwadis via Nand Ghar across 16 states, and sustainable livelihood initiatives that impact millions of lives across India. At the festival, sessions presented by Vedanta include: the Karigar Spotlight on ethnic and embroidery patchwork, Khadtal and Maganiyars performances, and the Uthori Street Play, each offering a platform to showcase local artisans and performers, while reinforcing the company’s support for heritage-linked skill development . The 2025 edition of Jaigarh Heritage Festival proudly welcomes a group of committed sponsors who continue to invest in India's cultural landscape: Vedanta as Presenting Partner, in association with KGK, with Code Silver as the Official Festival Partner. Our Lifestyle Partner is Provogue, and we are grateful to Rajasthan Patrika for their support. We thank StoneX as our Art Partner, and Radio Mirchi and Gaana as our Entertainment Partners.Our Hospitality Partner Nouba, Celebration Partner AB InBev (CoronaSunset) and Pouring Partner Grover Wines add immense value to the festival experience. We also recognise Royal Treasure as our Décor Partner, AU Small Finance Bank as the Outreach Partner, and Bank of Baroda as the Banking Partner.We extend our appreciation to SDMH as the Care Partner, Stage Craft as the Official Set Design Partner, and Airtel as the Internet Partner. We are delighted to have Jaipur Uncharted as the Official Heritage Walk Partner and deeply grateful to Trevi for their support as Festival Patron.

      Speaking about Vedanta’s association with the festival, Priya Agarwal Hebbar, Non-Executive Director, Vedanta Ltd & Chairperson, Hindustan Zinc Ltd, said, "Rajasthan has always been home for Vedanta, and its culture continues to inspire us. We believe that preserving heritage is just as important as building for the future, and the Jaigarh Heritage Festival captures that spirit beautifully. It's a living celebration of craft, music, and storytelling that honours tradition while keeping it vibrantly alive. We are proud to support a platform that connects generations and reminds us that culture isn't what we inherit, it's what we carry forward." Sanjoy K. Roy, Managing Director, Teamwork Arts, added, "The Jaigarh Heritage Festival is a celebration of Rajasthan’s extraordinary artistic legacy, where music, craft, and storytelling come together to create experiences that resonate across generations. We are delighted to partner with Vedanta and our sponsors, whose support empowers artisans and communities, ensuring that our heritage and craft traditions thrive. This year, we continue our commitment to presenting moments that inspire, connect, and leave a lasting impression on every visitor.

      Sanjay Kothari, Trustee- KGK Foundation, remarked, “Art and music have always been more than creative disciplines to me - they are the silent architects of a society’s identity. They shape how we remember our past, how we interpret our present, and how we imagine our future. Jaigarh Heritage Festival resonates deeply with my personal belief that culture must not only be preserved but continuously re-energised with new ideas and new expressions. Through the KGK Foundation, we remain committed to creating platforms that nurture talent, honour heritage, and encourage artistic courage. It is our endeavor to ensure that Jaipur’s cultural landscape continues to evolve with dignity, depth, and a sense of purpose that speaks to generations beyond our own." Nirmala Durlabhji, Director, Code Silver “Code Silver is proud to support the Jaigarh Heritage Festival as the Official Festival Partner. The festival beautifully reflects our philosophy of honouring heritage while embracing contemporary expression. Rooted in Rajasthan’s craft traditions, we are pleased to be part of an initiative that celebrates culture, creativity, and community in such a meaningful way.” Yogendra Durlabhji, Secretary, SD Trust “At SDMH, community wellbeing has always been central to our mission. Supporting the Jaigarh Heritage Festival as the Care Partner reflects our commitment to serving people beyond the hospital walls. Festivals like these strengthen community bonds and celebrate our shared heritage, and we are pleased to contribute to an experience that is culturally vibrant, safe, and welcoming for all.” Speaking about the collaboration with the festival, Pravin Prabhakar, CEO, Provogue India, said, “Heritage is not just to be remembered, but carried forward with pride. Our association with the Jaigarh Heritage Festival allows us to blend Rajasthan’s cultural richness with Provogue’s modern design philosophy. Through this collaboration, we proudly present MYN by Provogue, India’s first customizable luggage platform, infused with the fort’s motifs, artisanal influences, and a contemporary aesthetic. This Limited-Edition collection enables every traveller to carry a piece of heritage in a personal and premium way, reaffirming that style becomes truly timeless when rooted in tradition.” Speaking about the collaboration with the festival, Sushant Pathak, CMO, StoneX said, “We are honoured to participate in the Jaigarh Heritage Festival — a celebration that beautifully embodies the regal heritage of Rajasthan. At StoneX, we have always believed in elevating stone through mastery, storytelling, and provenance. This year, we are presenting five of the rarest stones in the world, each carrying a remarkable narrative of origin, culture, and journey. These stories have been brought to life in an immersive format at the Jaigarh Festival, inviting guests to rediscover stone not as a material, but as a timeless work of art.” The 2025 festival also benefits from the support of Code Silver, Rajasthan Patrika, Radio Mirchi, Royal Treasure, and Airtel, whose participation strengthens the festival’s outreach and ensures that audiences across media, culture, and lifestyle segments can engage with Rajasthan’s heritage. With Vedanta at the forefront and the collective support of its partners, the Jaigarh Heritage Festival 2025 exemplifies how visionary sponsorship can create lasting cultural experiences, promote social development, and celebrate Rajasthan’s living heritage for generations to come.

      About Teamwork Arts TeamworkArts is a highly versatile production company with roots in the performing arts, social action and the corporate world. For over 30 years, Teamwork Arts has taken India to the world and brought the world to India, presenting the finest of Indian performers, writers, change-makers, and visual artists in the knowledge and arts space in India and abroad. Every year, they produce over 33 festivals in 72 cities and 26 countries in the fields of performing & visual arts and literature. TeamworkArts produces the world’s largest literary gathering: the annual Jaipur Literature Festival (JLF). JLF International now travels to the US, UK, and Europe.

      About Vedanta Vedanta Group is a global leader in critical minerals, transition metals, energy, and technology, with operations spanning India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan. As the world’s largest integrated producer of zinc, the fourth-largest global producer of silver, and one of the top producers of aluminium globally, Vedanta plays a pivotal role in the global supply of essential materials for the energy transition. The Company is also India’s only private oil and gas producer and one of the largest private power producers. A global ESG champion, Vedanta is committed to achieving net-zero emissions by 2050 or sooner. Through its transformative social impact initiatives, the company has improved the lives of millions of people in underserved regions. For more information, please visit www.vedantalimited.com About KGK Foundation KGK Foundation is the CSR and social impact division of the globally renowned KGK Group. Focused on sectors such as education, vocational training, health, women’s empowerment, and cultural development, the Foundation works to uplift underserved communities through long-term, sustainable initiatives. Guided by a legacy of integrity and responsibility, the Foundation partners with institutions and programmes that enrich society.

      About Code Silver Code Silver – A Durlabhji Initiative – is a Jaipur-based luxury silverware and gifting brand that celebrates India’s artisanal mastery through contemporary design. Known for its refined craftsmanship, meticulous detailing, and modern aesthetic, the brand blends heritage artistry with functional elegance. From handcrafted décor and lifestyle collectibles to bespoke corporate and festive hampers, Code Silver carries forward the Durlabhji family’s legacy of excellence and innovation.

      About Provogue Provogue is a leading travel lifestyle brand with a legacy of over 28 years in India’s fashion industry. Built on a strong fashion heritage, the brand brings a style-first approach to travel gear for the new-age, style-conscious traveller. Provogue offers a premium range of luggage, backpacks, and travel accessories that fuse contemporary design with functional durability. With innovation at its core and fashion in its DNA, the brand continues to redefine modern travel inspiring consumers to move with confidence and individuality.

      About StoneX Stonex India is one of the country’s leading destinations for premium natural stone, renowned for its commitment to craftsmanship, quality, and design excellence. With a deep appreciation for materials shaped by the earth, Stonex brings together traditional artistry and cutting-edge technology to create stone surfaces of enduring beauty. From bespoke architectural projects to luxury interiors, the brand is dedicated to elevating India’s design landscape.

      About SDMH Founded in 1971, SantokbaDurlabhji Memorial Hospital (SDMH) is one of Rajasthan’s most trusted multi-specialty healthcare institutions, built on the principles of compassion, service, and ethical medical care. Operated under the SD Trust, the hospital remains committed to accessible, high-quality healthcare, upheld by a longstanding legacy of philanthropy and community service.

      (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI PWR

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