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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
    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
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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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      Venezuela releases imprisoned opposition figures and activists, which Trump says US requested

      January 9, 2026

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      Guatire (Venezuela), Jan 9 (AP) Venezuela released a number of imprisoned high-profile opposition figures, activists and journalists — both citizens and foreigners — Thursday in what the government described as a gesture to “seek peace” less than a week after former President Nicolás Maduro was captured by US forces to face drug-trafficking charges.

      President Donald Trump, who has been pressuring Maduro allies now leading the country to fold to his vision for the future of the oil-rich nation, said the releases came at the request of the United States.

      In the interview on Fox News on Thursday night, Trump praised the government of acting President Delcy Rodríguez, saying: “they've been great. ... Everything we've wanted, they've given us.” Jorge Rodríguez, brother of the acting president and head of Venezuela's National Assembly, said a “significant number” of people would be freed, but as of late Thursday night it was still not clear who or how many people would be released.

      The US government and Venezuela's opposition have long demanded the widespread release of imprisoned politicians, critics and members of civil society. The Venezuelan government insists it doesn't hold political prisoners.

      “Consider this a gesture by the Bolivarian (Venezuelan) government, which is broadly intended to seek peace,” he announced.

      High profile releases ---------------------- Among those released was Biaggio Pilieri, an opposition leader who was part of Nobel Peace Prize winner María Corina Machado's 2024 presidential campaign, according to Foro Penal, an advocacy group for prisoners based in Caracas. Also released was Enrique Márquez, a former electoral authority and candidate in the 2024 presidential election, the organisation said.

      Videos posted by journalists on social media show Márquez and Pilieri embracing loved ones on the streets outside the prison. One video showed Márquez beaming and video-calling family members, saying, “Soon I will be with you all.” Five Spanish citizens — including the prominent Venezuelan-Spanish lawyer and human rights activist Rocío San Miguel — were also released in the afternoon and, as the night wore on, reports trickled out of more detainees walking free. Relatives who were waiting for hours outside one of the prisons on the outskirts of Caracas briefly chanted, “Libertad! Libertad!” Venezuela's government has a history of releasing people imprisoned for political reasons — including real and perceived opponents — during moments of high tension to signal openness to dialogue. The releases on Thursday were the first since Maduro was deposed.

      Human rights groups and members of the opposition were encouraged by the move, though it wasn't clear yet what it represented — whether the growing pains of a government in transition or a symbolic overture to placate the Trump administration, which has allowed Maduro's loyalists to stay in power as it exerts pressure through crippling sanctions.

      Nothing brings back the 'stolen years' ---------------------------------------- For opposition leader Machado – whom Trump has snubbed by endorsing Rodríguez to lead the transition — the gesture was “an act of moral restitution." “Nothing brings back the stolen years,” she said in an audio message from exile addressed to families of released detainees, urging them to take comfort in the knowledge that “injustice will not be eternal and that the truth, though badly wounded, eventually prevails.” Alfredo Romero, president of Foro Penal, expressed cautious hope "that this is indeed the beginning of the dismantling of a repressive system in Venezuela ... and not a mere gesture, a charade of releasing some prisoners and incarcerating others.” Despite a widespread crackdown during the tumultuous 2024 election — in which the government said it detained 2,000 people — Venezuela's government denies that there are prisoners unjustly detained, accusing them of plotting to destabilise Maduro's government.

      Romero's organisation said that as of December 29, 2025, there were 863 people detained in Venezuela “for political reasons.” The Spanish government said Thursday that five of its citizens, including dual national San Miguel, had been released from custody in Venezuela and would soon return to Spain.

      Speaking to Spanish broadcaster RNE, Spanish Foreign Minister José Manuel Albares identified the other Spanish nationals released as Andrés Martínez, José María Basoa, Ernesto Gorbe and Miguel Moreno.

      Two of them, Martínez and Basoa, were arrested in Venezuela in September 2024 and accused of plotting to destabilize Maduro's government as Spanish spies — allegations vehemently denied by Spain.

      Spain's El País newspaper reported Thursday that another freed detainee, Gorbe, was arrested in 2024 on allegations of overstaying his visa.

      Families wait outside prisons ------------------------------- As the news of the release broke Thursday, families of detainees rushed to prisons across the country, seeking information on their loved ones.

      Pedro Durán, 60, was among those hoping to reunite with his brother Franklin Durán as he waited outside a prison in the town of Guatire, around 25 miles (43 kilometers) outside of Caracas. Durán said his brother was detained in 2021 on charges of trying to overthrow Maduro's government — an accusation his family denies.

      Durán, who has been living in Spain, heard rumours on Wednesday that the government could release a number of detainees and immediately bought a plane ticket from Madrid to Caracas to find his brother.

      “I don't have words to express the emotion I'm feeling,” Durán said. “We're feeling a lot of hope ... We're just waiting now.” Despite the anticipation, fear persists.

      “Of course everyone here is very scared, but what more could (the government) do to us that they haven't done already,” he added.

      'A bargaining chip' Ronal Rodríguez, a researcher at the Venezuelan Observatory at the University of Rosario in Bogotá, Colombia, said the government releases prisoners at politically strategic moments.

      In July last year, Venezuela released 10 jailed US citizens and permanent residents in exchange for the repatriation of over 200 Venezuelans deported by the Trump administration to El Salvador, where they had been held in a prison built to house criminal gangs.

      “The regime uses them like a bargaining chip,” he said of prisoners in Venezuela. It will be telling to see not only how many people the government releases, he said, but also under what conditions and whether the releases include anyone high-profile.

      On Wednesday, the Trump administration sought to assert its control over Venezuelan oil, seizing a pair of sanctioned tankers transporting petroleum and announcing plans to relax some sanctions so the US can oversee the sale of Venezuela's petroleum worldwide.

      Both moves reflect the administration's determination to make good on its effort to control the next steps in Venezuela through its vast oil resources after US President Donald Trump pledged after the capture of Maduro that the US will “run” the country.

      Trump on Thursday night said that Machado may be visiting Washington next week and that he may be meeting with her.

      “I understand she's coming in next week some time and I look forward to saying hello to her,” Trump said in the Fox News interview with Sean Hannity. “And I've heard that she wants to do that.” (AP) GSP

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