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    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
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
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    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
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    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.
    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.
    Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
    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.
    Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.

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      40 world chefs' broke bread and boundaries at the IIHM International Young Chef Olympiad

      February 11, 2026

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      IIHM's Kotamsetti Teja took India to the finals of the global event; Albania, England, and Sri Lanka won the top three positions in the largest culinary event of young chefs in the world KOLKATA, India, Feb. 10, 2026 /PRNewswire/ -- After a week of brandishing knives, delivering cuts, and marinating rivalries with sizzle and bake, student chefs, enroute to becoming Michelin stars, all won the world's biggest culinary competition for student chefs—the IIHM International Young Chef Olympiad 2026. Across 40 countries from almost every continent in the world, they displayed the transformative power of food as a glue that binds humanity. They broke bread. But they broke something bigger. Boundaries. Yes, there were gold, silver, and bronze winners, who have gone back to their countries, welcomed, embraced, and saluted by governments and institutions. There were 26 kilo trophies carried back with no weight on their shoulders, only a lightness of achievement. Yes, there were some medals. But many more memories. For the 12th successive year, this Young Chef Olympiad, a brainchild of the visionary Chairman of IIHM, Dr. Suborno Bose, has pulled off the impossible—getting the world to cook collaboratively, display talent of a proportion that secures the future of culinary arts, and build a declared commitment of sharing and collaboration of knowledge from culinary colleges the world over, to preserve global culinary heritage, embracing AI as a tool for learning and time-saving, and fortifying human connections with that time. The top three who stood as winners on the podium were excellent representatives of the spirit of the Young Chef Olympiad. The others who didn't get crowned may have missed out narrowly on marks, but stood tall as some of the world's best. Like Kotamsetti Satya Teja, a student of IIHM Kolkata from coastal Andhra Pradesh, who showcased his craft in his home kitchen on a stage which had the best teams competing and took India to the finals, making him one of the ten best student chefs in the world. Teja was also awarded for his innovative use of AI for recipe analysis in his culinary ensemble, balancing taste and nutrition, and received the Kitchen Cut Award from top-notch Michelin-star chef John Wood. Conceived, hosted, and nurtured by the International Institute of Hotel Management (IIHM), YCO 2026 unfolded again as a global movement in culinary education, cultural diplomacy, and responsible innovation. From the opening ceremony at the sprawling Signature Club Resorts at Brigade Orchards in Bengaluru, the YCO caravan of different teams travelled across Delhi, Pune, Goa, and Hyderabad for the early rounds of the competition before converging in Kolkata for the final rounds of this global event. On the grand finale stage under the clear night sky of Kolkata, Enri Cuedari of Albania, from Instituti Kulinari Neranxi, lifted the Golden Trophy and was crowned with the Golden Toque, becoming World Champion in what is widely recognised as the world's largest and most collaborative competition for student chefs. England, the defending champion from YCO 2025, secured the silver medal through Dominic Thomas Grundy of Westminster Capital City College. Sri Lanka claimed the bronze, represented by Vidanagamage Rumira Reshan Piyasiri of the Colombo Academy of Hospitality Management. The Plate Trophy was won by Maelyss Helene Parrot of France, one of the world's finest culinary nations. The Dr. Suborno Bose Challenge Trophy, a heartwarming competition where two countries are paired and cook a dish together, embodying how food has its own language of unity, was won by Ozodbek Odilov of Uzbekistan and Melquirudi Leki-Bere da Cunha of Timor-Leste. A Festival of Learning, Not Just a Competition Speaking at the conclusion of the Olympiad, Padma Shri Chef Sanjeev Kapoor, Principal Judge of YCO 2026, described the event as a "festival of learning"—a phrase that resonated deeply with the students, mentors, and global jury assembled in Kolkata. That sentiment was echoed and firmly anchored by Dr. Suborno Bose, Founder-Chairman of IIHM and Chief Mentor of the Young Chef Olympiad, who emphasised that learning lay at the heart of every design decision taken for YCO 2026. "From the outset, YCO 2026 was designed not as a competition that teaches, but as an education system that happens to compete. Every kitchen, every city, every interaction was structured as learning," Dr. Bose said. From competitive kitchens to symposium halls, from heritage research to peer collaboration, the Olympiad functioned as a living classroom—where performance and pedagogy coexisted seamlessly. A Student-First Global Platform At a time when large international events often prioritise spectacle, Dr. Bose underscored that YCO 2026 took a fundamentally different approach. "YCO 2026 was unapologetically student-first. Every decision—competition formats, knowledge sharing, AI tools, MOUs, and global exchanges—was taken by asking one question: how does this serve student learning?" he emphasised. This student-first philosophy was evident across the Olympiad's structure. The Top 10 finalists—representing Albania, England, Sri Lanka, India, the Philippines, Malaysia, Nepal, Sweden, Canada, and Switzerland—earned their places through integrity, discipline, and respect for both tradition and innovation. More importantly, every participant, regardless of ranking, returned home with global exposure, lifelong peer networks, and shared learning. Preserving Culinary Heritage in the Age of AI The defining theme of YCO 2026—"Preserving the World's Global Culinary Heritage through AI"—ran through every competition, symposium, and side event. IIHM positioned Artificial Intelligence not as a replacement for craft, but as a guardian of memory—a tool to document, preserve, and respectfully carry culinary traditions forward. For the first time in the Olympiad's history, participating countries were positioned as a living laboratory of global culinary heritage. Through the exchange of AI-enabled Culinary Heritage Dossiers, nations shared their ingredients, techniques, food philosophies, and cultural contexts—transforming fragile, often oral traditions into structured, living knowledge. "Heritage is not nostalgia," Dr. Bose noted during the journey. "It is alive—experienced through people, kitchens, mistakes, learning, and friendships. AI helps us carry it forward responsibly." IIHM also announced the development of country-specific Culinary Heritage GPTs, positioning YCO as the world's first AI-powered, country-by-country culinary knowledge platform built around a live global competition. Global MOUs and Knowledge Without Borders A major milestone during YCO week was the signing of Global MOUs and the Global Culinary Knowledge Declaration with institutions from 34 countries. These agreements embedded student exchange, faculty collaboration, AI-enabled learning, and shared research into IIHM's global academic framework. Under the AI-LEAP (AI Literacy Education Acceleration Program), IIHM committed to inclusive, ethical AI education, reinforcing its philosophy of "High Tech, Higher Touch." "This was never about signatures," Dr. Bose said. "It was about ensuring that students across continents learn together, grow together, and prepare responsibly for the future of hospitality." Learning Beyond the Podium The final days of YCO 2026 saw Chef Sanjeev Kapoor at IIHM's Kolkata Global Campus, where he conducted an inspiring Global Masterclass on Indian millets. The session highlighted nutrition, sustainability, and innovation—bridging ancient Indian wisdom with modern global kitchens. Interacting closely with students, Chef Kapoor remarked that only IIHM could pull off an event like the Young Chef Olympiad, blending competition, education, culture, and technology into one cohesive global platform. Competition with Conscience Professor David Foskett, MBE, Chairman of the Grand Jury and Chairman of the International Hospitality Council, observed that YCO 2026 reaffirmed a vital truth about hospitality education. "The future of our profession must move beyond textbooks and trophies," he said. "Through initiatives like the United World of Young Chefs, the Global Knowledge Sharing Declaration, and the Culinary Heritage Dossiers, YCO transformed competition into collaboration. Students returned home not just with sharper skills, but with friendships, stories, and global perspective." A Finale—and a Beginning The Grand Finale celebrations at Kolkata brought together culture, music, and shared joy, marking the culmination of an extraordinary global journey. Medals were awarded. Champions were crowned. But what endured was far greater: a reaffirmation that education, not just excellence, lies at the heart of global culinary leadership. The Olympiad ended. The journey, unmistakably, had only just begun Photo: https://mma.prnewswire.com/media/2891121/IIHM.jpg' alt='Embedded Media' /> Photo: https://mma.prnewswire.com/media/2891122/IIHM_1.jpg' alt='Embedded Media' /> Logo: https://mma.prnewswire.com/media/2569189/5781596/IIHM_Logo.jpg' alt='Embedded Media' /> CONTACT: Mr Sujay Gupta, Group Director Media & Communications, IIHM Group, +91-9923057937, [email protected] (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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