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    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
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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.
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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.
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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
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Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
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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.
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August 7, 2026
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BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
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August 7, 2026
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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.
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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.
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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.
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August 6, 2026
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Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
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August 6, 2026
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Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
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August 6, 2026
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Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
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August 6, 2026
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Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
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August 6, 2026
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NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
August 6, 2026
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Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
August 6, 2026
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Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.

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Customs & Trade

Trade deal with US will hurt Indian farmers; govt wants to destroy agri sector: Kharge

February 4, 2026

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New Delhi, Feb 4 (PTI) The India-US trade deal will hurt the interests of Indian farmers, and the government wants to destroy the country's agriculture sector, Leader of Opposition in the Rajya Sabha Mallikarjun Kharge alleged on Wednesday.

Participating in the discussion on Motion of Thanks to the President's address in the Upper House, the Congress party president also said that in the last 11 years, the government has "bulldozed" social justice and equality, and parliamentary democracy.

Hitting out at the manner in which the India-US trade deal was announced, Kharge said it is an insult to the Indian Parliament that parliamentarians got to know about the deal when it was in session from US President Donald Trump and not the government.

Quoting US Agriculture Secretary Brooke Rollins, he said, "The new US-India deal will export farm products to India's massive markets, lifting prices and pumping cash into rural America".

"Meaning American farmers will benefit," Kharge said.

"Tell us, are you (government) working for the welfare of farmers, or are you against the farmers?" Asserting that the deal will hurt the interests of Indian farmers, he alleged that the government wants to "destroy" the Indian agriculture sector.

American imports will come at zero tariff, and what India exports there will be at 18 per cent, he lamented.

"The fact that parliamentarians came to know about the India-US trade deal from President Trump and not the government is an insult to Parliament," he said, adding that Trump is telling what India should do and how to run it from the US.

Indian farmers will be destroyed by this deal, he added.

On Monday, Trump, in a social media post, announced that India and the US agreed to a trade deal under which Washington would bring down the reciprocal tariff on Indian goods to 18 per cent from the current 50 per cent, after a telephonic conversation with Prime Minister Narendra Modi.

In his speech, Kharge said the President's address was silent on many important matters and raised issues of social justice, social harmony, attack on constitutional democracy, economy, difficulties faced by farmers and workers and the government's shortcomings in its foreign policy.

After the Independence, two of the most important goals before the nation were setting up a system to provide social justice and equality, and giving the country a parliamentary democracy, but "in 11 years you have bulldozed both", he said.

In the last few years, the government has weakened the four pillars of the constitution -- justice, liberty, equality and fraternity, Kharge said.

He further said that in the last 11 years, the Modi government has weakened the fabric of social justice.

While the President's address mentioned women's reservation, in reality, women have only remained vote banks for the BJP, Kharge claimed, adding that if the Prime Minister was really concerned about women's reservation, then the Women's Reservation Act would have been implemented without any conditions.

He also alleged that under the NDA rule, atrocities against minorities, tribals and women have increased. Many schemes implemented by the earlier Congress government to uplift scheduled tribes and scheduled tribes have been completed by the current government, and fund allocations have been cut.

Kharge also lashed out at the government for "uprooting and throwing away" legislations, including MNREGA, which were aimed to provide citizens basic rights and for the betterment of citizens.

On social harmony, he said any discussion on the matter will be incomplete without mentioning Manipur, where at least 200 people have died, and 70,000 have been displaced.

"You have made Manipur a militarised zone," Kharge said, adding that it took two years for the Prime Minister to visit the troubled state.

Kharge also raised concern over rising violence against minorities and attacks on Churches in several states, while accusing the BJP spokesperson of spewing venom and spreading hatred between different communities.

"Do you want to build Viksit Bharat on the foundation of hatred and division?" he asked, adding that if the government continued with its policy, it would be responsible for breaking up the nation.

He also alleged the ruling dispensation of not entertaining demands from the opposition for discussion on various issues in Parliament by rejecting short-notice questions and half-hour discussions.

Alleging that the Prime Minister always stays away from replying to questions in Parliament, Kharge said several questions raised by Opposition members were rejected on flimsy grounds.

He accused the government of wanting to impose new laws and pass legislation without discussion or proper scrutiny in Parliament, while also alleging that in non-NDA-ruled states, Raj Bhavan has become offices of the BJP and RSS, and Governors were acting as agents of the Centre.

Highlighting the issue of inequality, citing the World Inequality Report, Kharge said 40 per cent of India's total wealth is held by 1 per cent of the population and asked what steps have been taken by the government to address the issue.

He also raised the issue of rising unemployment among youths despite large-scale vacancies in government posts and PSUs across the country, while flagging concern over heightened drug seizures, especially from ports in Gujarat.

Kharge also hit out at the government over the new labour codes, saying in order to benefit its "corporate friends", the government has finished the laws that were framed before and after Independence, which "guaranteed the future of workers".

Taking a dig at the government's 'Achche Din' slogan, he said, due to the smoke of pollution, one can't see 'Achche Din' and 11 years of failed strategy meant people are now forced to buy air purifiers.

"Those who talk about ease of doing business can't give ease of breathing...," Kharge lamented. PTI RKL CS RKL BAL BAL

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