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    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
    Ministry of Agriculture, Food and Rural Affairs and aT Host '2026 K-Food Fair in New Delhi, India'
    No compromise on tackling illegal immigrants' issue: Minister Priyank Kharge
    Technology, transparency key for urban cooperative banks to stay competitive: Shah
    Paul Merchants Gets RBI Approval for Perpetual AD Category-II Licence Under Revised FEMA Framework
    IEPFA Organises Stakeholder Engagement with Nodal Officers of Companies on Integrated IEPFA Portal 2.0
    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
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    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.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      India Signals Shift from AI Vision to Sovereign Execution with the launch of IAIRO

      January 30, 2026

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      ~ The execution engine for India's AI strategy ~ NEW DELHI, Jan. 30, 2026 /PRNewswire/ -- A decisive shift in India's artificial intelligence journey is in the making with the formal launch of Indian AI Research Organisation (IAIRO), a pioneering institution and a national beacon dedicated to foundational and applied AI research aligned with India's core challenges and priorities. Aimed at catalysing the shift - from strategy formulation to sovereignty and streamlined execution from prototypes and IP to global products - the launch of IAIRO comes at a pivotal moment backed by a position paper titled 'Sovereign AI for India's Strategic Autonomy' by Dr Amit Sheth, the Founding Director of IAIRO. Aligned with the IndiaAI Mission, the Ministry of Electronics & Information Technology (MeitY), and the Gujarat AI Action Plan along with The Indian Pharmaceutical Association (IPA) as an Anchor Partner, IAIRO will focus on - Advancing frontier AI research and creating sovereign intellectual property; Building and retaining world-class AI talent within India; Translating research into real-world, high-impact deployments for economic and social impact; and Supporting evidence-led policy for robust, secure, and trustworthy AI. Unlike consumer-oriented large language models (LLMs) that are 'monolithic and generalistic', IAIRO will focus on next generation of AI models, that are custom (domain specific), compact (small), neurosymbolic (utilizing not just data but knowledge and human expertise), within a composite framework (involving hybrid agents). This will make them much more cost effective to train and deploy. Such models are expected to be at the core of global products supporting high value, mission critical enterprise applications as well. IAIRO is firmly committed to establishing, for AI, the same concentrated national capability that ISRO achieved for the space sector. The organisation's unique ecosystem will nurture talent, develop sovereign intellectual property, bring on board entrepreneurs in residence and startups, with close engagement of investors seeking to support deep tech AI startups. This approach ensures that ideas are not only developed but also translated into tangible products, ultimately scaling up to create a significant impact at the population level across the nation. Commenting on the founding of IAIRO, Dr. Amit Sheth said, "As AI rapidly reshapes economic competitiveness, governance capacity, and national security, India is moving to ensure that its AI future is built in India, for India, and governed by Indian institutions. IAIRO has been established to serve as the country's long-term execution engine—converting national AI ambition into deployable systems, sovereign intellectual property, and enduring capability." Dr. Sheth has also discussed the desire to avoid consumer-centric AI in the form of LLMs, which requires costing massive resources in technologies that is quickly being commoditized. This is in line with recent observations at the World Economic Forum by Union Minister of Electronics & Information Technology Shri Ashwini Vaishnaw about the need for India to follow its own path by including small language model development as part of the national AI strategy. "The articulation of Union Minister Vaishnaw at Davos marked a clear inflection point. India's AI agenda is no longer exploratory. It is entering a mission-mode phase, requiring dedicated institutions, long-term capital, deep talent, and translational capability. IAIRO has been created precisely to meet this need," Dr. Sheth added. IAIRO represents a new institutional model for India, one that integrates frontier research, talent development, ecosystem partnerships, and real-world deployment within a single national mandate. Established as a public-private-partnership, IAIRO will focus on AI systems that address India-specific challenges at population scale — across governance, healthcare, climate resilience, language inclusion, digital public infrastructure, and strategic sectors — while generating sovereign IP of global relevance. Unlike conventional research centres, IAIRO is designed as an execution-first institution, bridging the gap between foundational science and deployment, and ensuring that AI innovation translates into measurable national outcomes. IAIRO will play a meaningful role in catalysing innovation in AI, through its unique breakthrough to breakout strategy, which includes entrepreneur-in-residence programs, applied labs, and venture-creation pathways. With a board comprising industry stalwarts including Padma Bhushan recipient Dr. Ajai Chowdhry, Chairman, Mission Governing Board, National Quantum Mission, Prof. Rajat Moona, Director of IIT Gandhinagar, and Smt. P. Bharati, Secretary, Department of S&T, Government of Gujarat. The approved board expansion will bring Shri Sharad Sharma, Founder of iSPIRIT and a former key member of the team that developed India's digital stack, Shri Abhishek Singh, CEO of the IndiaAI Mission and Prof. Ramesh Jain, Director at the Institute of Health at UC-Irvine and regarded as the Father of Multimedia. IAIRO's founding team comprises Prof. Ramesh Jain, Prof. Dev Niyogi (UNESCO Chair for AI, Water & Cities), Prof. Sanjay Chaudhary (Ahmedabad University), Juhi Bhatnagar (Growth Operator, VC and Wharton MBA - Snap, MuSigma, Swiggy and Forj Capital) and Selvam Velmurugan (Seasoned Engineering Leader – Amazon, Netflix, Vulcan, BlinkRx) and Dr Amit Sheth. Similarly, IAIRO's many distinguished advisors include Prof. Srinivasan Parthasarathy (Ohio State University), Prof. Vasant Hanover (Penn State University), L. Venkata Subramanium (Quantum AI and IBM), and some of the top technical and engineering leaders from the industry including IBM Research, Google, DeepMind, OpenAI, Apple, and Amazon. During his 44+ years in the USA, Dr. Sheth, an educator, researcher, and entrepreneur has been instrumental in building some of the most respected research organisations in the USA. He is one of the highly cited authors in the world in his area, has developed exceptional technical talents by supervising over 55 Ph.D. students and Postdocs, licensed his university research and IP to launch multiple AI startups, and led the development of multiple products including the first commercial semantic search engine. Responding to Prime Minister Narendra Modi's call to 'nation build', Dr. Sheth, recently returned to help shape India's sovereign AI mission. As India prepares to host the AI Impact Summit, the launch of IAIRO underscores a broader national intent, to pair ambition with institution-building, and innovation with sovereignty. In doing so, India positions itself not merely as a participant in the global AI race, but as a shaper of its own AI destiny. Logo: https://mma.prnewswire.com/media/2873354/IAIRO_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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