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    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    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
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    August 9, 2026
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
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    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
    August 8, 2026
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
    Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
    August 8, 2026
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
    August 8, 2026
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    Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
    Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
    August 8, 2026
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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
    Show AI Summary
    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
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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".

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      News and Press Release

      31 FDI PROPOSALS APPROVED

      January 29, 2009

      Contents
      Summary
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      Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 9th January, 2009, Government has approved 31 Proposals of Foreign Direct Investment amounting to Rs. 1277.23 Crore approximately.  The proposals relate to Ministries/Departments, namely, Commerce, Economic Affairs, Telecommunication, Urban Development, Civil Aviation, Industrial Policy & Promotion, Post and Information & Broadcasting.                                                                                                                                                                                   

      Details of the proposals approved are as follows:

      Sl. No.

      Name of the applicant

      Particulars of the proposal

      FDI/NRI inflows (Rs. In Crore)

      COMMERCE

      1

      M/s Paul Hartmann Finance B.V. Netherlands

      To set up a WOS to undertake wholesale trading.  The proposal attracts Press Note 1 of 2005.

      1.70

      2

      M/s Now (Asia) INC. Mauritius

      To manufacture equipment relating to petroleum sector, wholesale trading to customers only in the Petroleum sector.  The proposal attracts Press Note 1 of 2005.

      28.00

      ECONOMIC AFFAIRS

      3

      M/s Alcatel Lucent India Ltd., New Delhi

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      4

      M/s Ramky Enviro Engineers Ltd., Hyderabad

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      320.00

      5

      M/s Rama Cylinders Pvt. Ltd., Mumbai

      To issue and allot fully funded/ paid warrants.

      84.03

      6

      M/s Universal Music India Pvt. Ltd., Mumbai

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      1.20

      7

      M/s Cambridge Technology Enterprises Ltd., Hyderabad

      Transfer of shares by way of share swap and issuance of warrants.

      0.20

      8

      M/s Si2 Microsystems Ltd., Bangalore

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      62.332

      9

      M/s Haven Stead Developer Ltd., Chennai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      25.00

      10

      M/s Easiprocess Pvt. Ltd., Bangalore

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      2.00

      11

      M/s Millennium Holdings Ltd., Mauritius

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      14.79

      12

      M/s CMS Computers Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      190.00

      13

      M/s Directi Internet Solution Pvt. Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      14

      M/s Bridgestone Corporation, Japan

      Conversion of operating company into an operating cum holding company to make further downstream investment.  The proposal also attracts Press Note 1 of 2005.

      33.30

      15

      M/s Neilsoft Ltd., Pune

      Transfer of shares by way of share swap.

      No Fresh Inflow

      16

      M/s Kaefer Punj Lloyd Ltd., Gurgaon

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      25.16

      TELECOMMUNICATION

      17

      M/s Bharti Telemedia Limited (No.344/2008-FC.I)

      Ex-post facto approval for indirect foreign investment in a company engaged in Teleport sector.

      No Fresh Inflow

      URBAN DEVELOPMENT

      18

      M/s Isolux Corsan Indian Engineering & Construction Pvt. Ltd., Gurgaon

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      01.0

      CIVIL AVIATION

      19

      M/s Kerns Aero Products Pvt. Ltd.

      (i) To issue shares against technical know how fee, training and supply of designs and (ii) issue of warrants.

      10.00

      INDUSTRIAL POLICY & PROMOTION

      20

      M/s Phillips Electronics India Ltd.

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      21

      M/s Morgan Stanley Financial Services Pvt. Ltd.

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      100.00

      22

      M/s Radha Krishna Hospitality Services Ltd.

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      TELECOMMUNICATION

      23

      M/s Pacific Internet Ltd.

      To change the shareholding structure.  The company is engaged in providing internet services.

      15.84

      24

      M/s Onmobile Global Ltd.

      Transfer of the shares held by the company in favour of their 100% WOS.

      No Fresh Inflow

      URBAN DEVELOPMENT

      25

      M/s Cushman & Wakefield India Pvt. Ltd.

      To delete one of the Clause of the FC approval.

      No Fresh Inflow

      COMMERCE

      26

      M/s ZF Friendrichsafen AG, Germany

      To set up a new Joint Venture Company for manufacturing and marketing of rubber and rubber-to-metal parts for automotive industry, agriculture and construction machinery, railway and construction application.  The proposal attracts Press Note 1 of 2005.

      0.005

      POST

      27

      M/s Continental Air Express Pvt. Ltd.

      Induction of foreign investment in courier services.

      0.02

      ECONOMIC AFFAIRS

      28

      M/s Dun & Bradstreet Information Services India Pvt. Ltd., Mumbai

      To make investment of funds from its internal accruals or out of fresh remittances from the overseas company or by way of a combination of internal accruals and fresh remittances from the overseas company for equity participation of a minimum of 51% of the paid up equity share capital and also make further investments.

      No Fresh Inflow

      29

      M/s Keystone Realtors Pvt. Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      300.00

      INFORMATION & BROADCASTING

      30

      M/s South Asian Regional Investments Singapore Pte Ltd., (2) M/s South Asian Regional Investment Singapore II Pte Ltd., Singapore

      Sale and transfer of shares from resident shareholders to non-resident for owning and operating a language channel.  The proposal also attracts Press Note 1 of 2005.

       

      60.00

      31

      M/s Dow Jones & Company Inc., USA

      To make a WoS to carry out the publishing of facsimile editions of newspapers.

      2.16

                  The following 17 proposals have been deferred:

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      The Bank of Nova Scotia, Canada

      To set up a WOS to undertake wholesale trading and hedging in precious metals etc.

      2

      M/s DNATA, UAE

      To set up a JV company to provide ground handling services for both domestic and international operators as well as cargo handling and related services.

      3

      M/s Dynamatic Technologies Ltd., Bangalore

      Ex-post facto approval for engaging in the business of defense and strategic industries.

      4

      M/s Indtech Construction Pvt. Ltd., New Delhi

      Transfer of rights attached with warrants exercisable into equity shares.

      5

      M/s Sanlam Investment Management (Pty) Ltd., South Africa

      Issue of warrants and conversion of operating company into an operating cum holding company to make further downstream investment.  One of the downstream subsidiaries is engaged in the commodity broking.

      6

      M/s Logix Microsystems Ltd., Bangalore

      Transfer of shares by way of share swap.

      7

      M/s ABG Bulk Handling Pvt. Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      8

      M/s Noida Softwares Technology Park Ltd.

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      9

      M/s Mahindra Forgings Ltd.

      Transfer of shares from a resident to a non-resident on a Stock Exchange.

      10

      M/s ABG Kandla Container Terminal Ltd.

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      11

      M/s ELbee Express Pvt. Ltd.

      To issue and allot Cumulative Compulsory Convertible Preference shares.  The company is engaged in the business of providing courier and logistics services.

      12

      M/s Chorus Call Conferencing Services India Pvt. Ltd.

      To increase the FDI from existing 51% to 74% of the paid up capital of the company in telecom sector.

      13

      M/s World Space (I) Pvt. Ltd.

      To provide/undertake the activities of web based services.

      14

      M/s Genworth Financial Inc, USA

      Amendment in the existing FIPB approval.

      15

      M/s High Mark Credit Information Services Pvt. Ltd., Mumbai

      To issue and allot up to 10% of the issued share capital.

      16

      M/s Broadband Pacenet (India) Pvt. Ltd., Mumbai

      Induction of foreign equity  by way of subscribing to or acquisition of shares up to 74% equity of the company

      17

      M/s JT International Mauritius Pvt. Ltd

      To increase in foreign shareholding from 50% to 74%.

                  The following 4 proposal has been rejected:

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      M/s RBS Credit and Financial Development Pvt. Ltd., Kolkata

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      2

      M/s Vatika Limited, New Delhi

      To retain the completed non FDI compliant projects/ assets and to exercise the option to retain the incomplete non-FDI complaint projects/ assets, post the infusion of FDI from various sources.

      3

      M/s GSR Sugars Pvt. Ltd., Hyderabad

      To issue "share option" convertible into equity shares.

      4

      M/s Meta Telecom Pvt. Ltd.

      Increase in Foreign equity from 40% to 73.45% in a company engaged in ILD and NLD Services.

      The following three proposals have been recommended for the consideration of CCEA, as the investment involved in the proposals is above Rs. 600.00 Crore.      

      Sl. No

      Name of the applicant

      Particulars of the proposal

      FDI/NRI inflows (Rs. In Crore)

      1

      M/s Orange Realty Pvt. Ltd., New Delhi

      Conversion of operating company into an operating cum holding company to make further downstream investment.

      2051.00

      2

      M/s NTT Docomo Inc., Japan

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      12924.00

      3

      M/s NTT Docomo Inc., Japan$

      Post facto approval for conversion of operating company into an operating cum holding company to make further downstream investment.

      949.07

      $          The Proposal will be placed before CCEA only after receipt of security clearance from MHA.           

      The following 1 (One) proposal has been withdrawn by the applicant.

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      M/s. EZY Infosoft Private Limited, Chandigarh

      Conversion of operating company into an operating cum holding company, transfer of shares by way of share swap.  Proposal also attracts Press Note 1 of 2005.

      ******

      BSC/BY/GN-20/09

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