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    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
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August 10, 2026
Show AI Summary
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
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
Show AI Summary
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
Show AI Summary
Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
August 7, 2026
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Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
August 7, 2026
Show AI Summary
Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
August 7, 2026
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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.

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Customs & Trade

HIGHLIGHTS AT 5 PM

December 12, 2025

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New Delhi, Dec 12 (PTI) Following are the top stories at 5 PM: NATION DEL53 CAB-CENSUS (4.45 PM)

Cabinet nod for Census 2027; Rs 11,718 crore sanctioned New Delhi: Union minister Ashwini Vaishnaw on Friday said the government has approved Rs 11,718 crore for the conduct of the Census of India 2027.

BOM15 MH-4THLD SHIVRAJ PATIL (2.46 PM)

Congress stalwart and Ex-Union minister Shivraj Patil passes away at 90; funeral on Saturday Latur: Veteran Congressman Shivraj Patil, who served as the Lok Sabha Speaker and was Union Home Minister during the 26/11 attacks, passed away at his hometown Latur in Maharashtra on Friday morning, family sources said.

PAR11 LS-LD RAHUL (2.27 PM)

Rahul Gandhi flags issue of air pollution, seeks discussion in LS New Delhi: Leader of the Opposition Rahul Gandhi on Friday said major cities across the country were living under a blanket of poisonous air, and sought a discussion on the issue of air pollution in Lok Sabha.

DEL38 AVI-INDIGO-EXPERT-PROBE (3.48 PM)

IndiGo board ropes in external aviation expert for flight disruption probe Mumbai: IndiGo's board on Friday announced the appointment of an external aviation expert to carry out a root-cause analysis of recent flight disruptions.

CAL13 MN-PRESIDENT-SPEECH (1. 45 PM)

President Murmu urges all communities in Manipur to support efforts for peace, reconciliation Imphal: President Droupadi Murmu on Friday called on all the communities of Manipur to continue the efforts for peace, understanding, and reconciliation and said that the Union government is committed to the well-being and progress of the people of the state.

DEL41 LSQ-MEA-MIDDLE EAST (4.03 PM)

5,945 Indians evacuated from Middle East during last 3 years in view of their safety: Govt New Delhi: Keeping in view their safety and security, the government has evacuated 5,945 Indian nationals from Israel, Iran, Syria and Iraq in the Middle East during the last three years, the Centre informed the Parliament on Friday.

CAL18 AS-ZUBEEN-CHARGESHEET-MURDER (3.10 PM)

Zubeen Garg death: 4 accused charged with murder in SIT chargesheet Guwahati: A Special Investigation Team (SIT), probing into the death of singer Zubeen Garg, on Friday charged four accused with murder in its chargesheet filed in a Guwahati court.

PAR13 LS-ISSUES (3.56 PM)

LS: BJP's Anurag Thakur accuses DMK-led TN govt of 'crushing' sentiments of Hindus New Delhi: BJP leader Anurag Thakur on Friday accused the Tamil Nadu government of contempt of court for cane-charging Hindu devotees taking out a procession at Thiruparankundram temple near Madurai.

DEL25 GOVT-CIC (1.14 PM)

CIC appointments: Govt sources counter Rahul, say 5 of 8 shortlisted names from disadvantaged groups New Delhi: A high-level panel has recommended the names of five people belonging to disadvantaged sections for filling vacancies in the CIC, sources said, dismissing opposition leader Rahul Gandhi's reported claim that the finalised list lacked names from SC, ST, OBC and minority communities.

CAL20 AN-SHAH-BHAGWAT-STATUE (4.02 PM)

Shah, Bhagwat unveil statue of Savarkar in Andamans Sri Vijaya Puram: Union Home Minister Amit Shah and RSS chief Mohan Bhagwat on Friday unveiled a statue of Vinayak Damodar Savarkar at Beodnabad in the Andaman and Nicobar Islands.

CAL10 AS-ACCIDENT-LD SURVIVOR (1.11 PM)

Lone Arunachal accident survivor admitted to Assam hospital in critical condition Dibrugarh/Tinsukia: The lone survivor of the Arunachal Pradesh road accident in which 18 people died, has been admitted to Assam Medical College and Hospital (AMCH) in Dibrugarh in a critical condition, officials said on Friday.

DEL32 RSQ-MGNREGS-DAYS (3.17 PM)

Average 50 days of employment per household provided under MGNREGS in last five years: Govt New Delhi: An average 50 days of employment per household was provided to workers under the Mahatma Gandhi National Employment Guarantee Scheme (MGNREGS) in the last five years, Minister of State for Rural Development Kamlesh Paswan informed the Rajya Sabha on Friday.

BOM16 MH-ASSEMBLY-SCUFFLE-REPORT (3.21 PM)

2 BJP, NCP (SP) supporters get civil custody, barred from entering Vidhan Bhavan over scuffle Nagpur: The Maharashtra legislature's privileges committee on Friday recommended two-day 'civil custody' for two supporters of rival BJP and NCP (SP) MLAs and a ban on their entry in Vidhan Bhavan premises for their involvement in a scuffle during the monsoon session.

CAL19 NL-DZUKOU-FIRE (3.14 PM)

Major wildfire breaks out in Nagaland's Western Dzukou Valley Kohima: A major wildfire broke out in Nagaland's Western Dzukou Valley in Kohima district on Friday, officials said.

CAL14 MN-BIREN-MLAs (2.14 PM)

BJP central leadership has asked party MLAs to reach Delhi for discussion: Biren Singh Imphal: Former Manipur chief minister N Biren Singh on Friday said the BJP central leadership has asked the party MLAs to come to Delhi to discuss issues related to the state.

MDS8 KL-JUSTICE-COURTS-CPIM (12.51 PM)

Some Kerala courts not showing sense of justice expected of them: CPI(M) gen secy Thiruvananthapuram: CPI(M) general secretary M A Baby on Friday said that some courts in Kerala are unable to show the "sense of justice" expected of them by the public in certain cases and termed it as "unfortunate".

MDS12 TN-THIRUPPARANKUNDRAM-BJP(R) (1.59 PM)

Doesn’t augur well for democracy if TN govt aims to appease minorities: BJP chief Chennai: Tamil Nadu BJP chief Nainar Nagenthran has said that it does not augur well for democracy when the state government challenges the authority of the judiciary to appease minorities but accepts judgment only when they are delivered in its favour.

MDS19 KA-ASSEMBLY-AEROSPACE-DEFENCE (4.07 PM)

Dropping land acquisition will not be setback to Aerospace & Defence Park: Minister Belagavi (Karnataka): Karnataka Industries Minister MB Patil on Friday told the Assembly that the state government's decision to drop acquisition of 1,777 acres in Devanahalli near Bengaluru, following farmers' protests, will not be a setback to the Aerospace & Defence Park project there.

BUSINESS DEL33 BIZ-INDIA-RUSSIAN-OIL (3.22 PM)

India's Russian crude imports hit five-month high in Nov; fuel exports to Australia soar New Delhi: India's imports of Russian crude oil rose 4 per cent in November to a five-month high of Euro 2.6 billion, with a large part of the refined fuels produced from it being exported to Australia, a European think tank said.

DEL26 BIZ-CCI-INDIGO (1.15 PM)

Regulator CCI examining whether IndiGo violated competition norms: Official New Delhi: Fair trade watchdog CCI is examining whether the country's largest airline, IndiGo, violated competition norms, a senior official said on Friday amid the carrier facing regulatory scrutiny over significant flight disruptions.

DEL34 CAB-INSURANCE-BILL (3.30 PM)

Cabinet approves bill to hike FDI in insurance sector to 100 pc New Delhi: The Union Cabinet on Friday approved a bill to raise foreign direct investment in the insurance sector to 100 per cent, according to sources.

LEGAL LGD12 SC-KL-MUNAMBAM (3.52 PM)

SC stays Kerala HC order on Munambam land, orders status quo on disputed property New Delhi: The Supreme Court on Friday stayed the Kerala High Court order that said notifying the Munambam land as waqf was a "land-grabbing tactic of the Kerala Waqf Board" and ordered status quo over the property in dispute.

LGD13 SC-KARUR STAMPEDE (4.14 PM)

Karur stampede: SC refuses to modify its direction on suspension of enquiry commission New Delhi: The Supreme Court on Friday turned down Tamil Nadu government's plea to modify its order suspending a one-man enquiry commission and the SIT to look into the Karur stampede in which 41 people were killed saying, "We want everything to be fair and impartial."

LGD10 SC-DEPORTATION-COMMENTARY (2.09 PM)

We are completely immune, says SC, flags half-baked running commentary on pending cases New Delhi: Observing that half-baked truth and ill-informed running commentary on sub-judice cases affects public perception, the Supreme Court on Friday asserted that it is "completely immune" from reporting of cases for the sake of publicity or narrative building.

LGD9 SC-JUDICIARY (1.38 PM)

Don't bring down judiciary by filing such cases: SC on plea challenging its decision on RTE Act New Delhi: Don't bring down the judiciary by filing such cases, the Supreme Court on Friday remarked while expressing strong displeasure over a plea challenging its earlier decision granting exemption to minority schools from the provisions of the Right to Education Act.

FOREIGN FGN35 RUSSIA-FROZEN ASSETS (3.59 PM)

Russia's central bank to approach court amid EU plans to confiscate frozen assets Moscow: Russia's central bank on Friday described the European Union’s decision to freeze its assets as “illegal actions” and threatened to file lawsuits to recover damages. By Vinay Shukla

FGN34 PAK-CM-LD IMRAN (3.08 PM)

Pakistan’s KPK CM alleges Imran Khan subjected to mistreatment in jail Peshawar: Pakistan’s Khyber Pakhtunkhwa province Chief Minister Muhammad Sohaib Afridi on Friday alleged that former prime minister Imran Khan and his wife Bushra Bibi are being subjected to mistreatment in jail.

FES26 SINGAPORE-INDIA-WOMEN (1.33 PM)

High Commission sets up centre in Singapore to help Indian women in distress Singapore: The High Commission in Singapore has opened a One Stop Centre (OSC) as part of the government’s scheme to support Indian women in distress overseas.

* PTI PRK

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