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    RBI invites public comments on the draft Directions on ‘Credit Valuation Adjustment (CVA) Framework’
    RBI invites comments on the draft “Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, ...
    87 Proposals Received under BHAVYA Scheme during First Round of Phase-I
    India successfully concludes the 16th BRICS Trade Ministers' Meeting in Jaipur under its BRICS Chairship 2026
    GeM Completes a Decade of Transforming Public Procurement with Cumulative GMV Exceeding ₹20 Lakh Crore
    NEWS HIGHLIGHTS
    India's forex kitty swells by USD 10.5 bn to USD 692.87 bn
    Rs 5,000 cr credited to 6.22 lakh Maharashtra farmers so far under loan waiver scheme: Fadnavis
    SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India
    DRI intensifies vigil along India's North-Eastern Frontier
    Vijayan slams Kerala govt's move to end doorstep pension delivery through cooperative banks
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    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...
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    August 7, 2026
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    Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
    Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
    August 7, 2026
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    Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
    Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
    August 7, 2026
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    BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
    BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
    August 7, 2026
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    Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
    BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
    August 7, 2026
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    Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
    Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.
    August 7, 2026
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    Criminal justice, extremist-material regulation and administrative schemes feature in reports on prosecutions, demolition practices, loan waivers and fuel policy.
    Criminal justice reports cover bail and an expedited trial in an assault prosecution, arrest for allegedly sheltering an accused, allegations of rape and murder of a minor, and claimed irregularities in a police recruitment examination. Regulatory developments include a ban on extremist literature associated with proscribed organisations and judicial disapproval of coercive demolition. Administrative coverage includes farmer loan-waiver transfers following Aadhaar authentication and debate over the E20 fuel-blending programme.
    August 7, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold holdings, Special Drawing Rights and IMF reserve position increased.
    India's foreign exchange reserves increased during the week ended July 31, principally because of higher foreign currency assets and gold reserves. Foreign currency assets include US dollar valuation effects arising from movements in currencies such as the euro, pound and yen. Special Drawing Rights and India's reserve position with the International Monetary Fund also increased. The movement followed measures to attract foreign exchange inflows, including an FCNR(B) measure, after earlier reserve declines associated with rupee pressure and dollar sales for foreign exchange market intervention.
    August 7, 2026
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    Farm loan waiver eligibility depends on verified beneficiary status and Aadhaar authentication for direct credit of eligible crop-loan relief.
    The farm loan waiver scheme covers eligible short-term crop loans within the prescribed ceiling and eligibility period. Waiver amounts are credited to verified bank accounts after field verification and completion of Aadhaar authentication. Aadhaar authentication is the operative condition for automatic processing of benefits, while eligibility rules and technical conditions have raised concerns about exclusion of distressed farmers.
    August 7, 2026
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    Corporate agency distribution expands access to life insurance products, supporting insurance awareness, financial inclusion and long-term household financial protection.
    A corporate agency arrangement enables J&K Bank to distribute SBI Life Insurance protection, savings, retirement and child-oriented life insurance plans through its branch network. The partnership aims to improve insurance access, awareness, financial literacy and long-term financial planning for households, particularly in Jammu & Kashmir and Ladakh. It is intended to expand insurance penetration, strengthen household financial protection and support financial inclusion in line with the IRDAI vision of "Insurance for All by 2047".
    August 7, 2026
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    Cross-border smuggling controls target narcotics, poppy seeds and areca nuts entering through the Indo-Myanmar border region.
    Cross-border smuggling enforcement targeted methamphetamine, foreign-origin poppy seeds and areca nuts allegedly brought from Myanmar. Methamphetamine concealed in an ambulance was seized under the NDPS Act, 1985. Poppy seeds and areca nuts recovered in separate operations were seized under the Customs Act, 1962. Poppy-seed imports are restricted to designated countries and require registration to ensure traceability and prevent illicit produce entering legitimate supply chains. The enforcement action addresses circumvention of customs controls and regulated import requirements.
    August 7, 2026
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    Direct benefit transfer for welfare pensions replaces cooperative-bank doorstep delivery, while retaining limited home service for excluded beneficiaries.
    Direct Benefit Transfer for social security and welfare pensions is to be made through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep delivery. Home delivery remains available for bedridden persons and others who cannot be excluded. The change is associated with delays in remitting undistributed amounts, record-update failures, reconciliation issues, duplicate payments, and incomplete Aadhaar-based payment implementation. Concerns have been raised that mandatory bank-account credit may disadvantage beneficiaries dependent on doorstep delivery.
    August 7, 2026
    Show AI Summary
    Direct Benefit Transfer for welfare pensions replaces doorstep cooperative-bank delivery, while home delivery remains for bedridden beneficiaries.
    Direct Benefit Transfer of social security and welfare pensions is to be made mandatory through Aadhaar-linked bank accounts, replacing cooperative-bank doorstep distribution. Home delivery continues for completely bedridden beneficiaries and others who cannot be excluded. The change addresses delays in remitting undistributed amounts, record-update and reconciliation deficiencies, duplicate payments linked to incomplete Aadhaar-based payments, delivery incentive costs, and the need to comply with Direct Benefit Transfer norms to avoid loss of central financial assistance.
    August 7, 2026
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    Customs trade data show moderating July growth while high-technology exports, vehicles and advanced manufacturing supplies remain strongly supported.
    Customs and trade data showed that China's July export and import growth moderated and its trade surplus narrowed from the preceding month. Typhoon-related port disruptions affected trade flows, but demand for electronics and green technology products supported elevated values. High-technology items, vehicles, electronics and machinery recorded strong January-July export growth, while trade performance varied among the United States, the European Union and Southeast Asia.
    August 7, 2026
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    BRICS industrial cooperation advances MSME, photovoltaic, startup and logistics frameworks alongside resilient trade and digital services collaboration.
    BRICS industrial cooperation under PartNIR was strengthened through a Joint Declaration and institutional measures addressing MSMEs, photovoltaics, startup-led innovation, and resilient transport and logistics. The measures include an SME cooperation framework, Terms of Reference and an Action Plan for photovoltaic industry cooperation, and a startup innovation action plan. Trade discussions focused on the multilateral trading system, MSME participation in international trade, resilient global value chains, and cross-border digitally delivered services within a rules-based trading framework.
    August 7, 2026
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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.

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      Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman outlines 5Rs of responsive tax governance; Calls for greater tax certainty and reduced litigation at the 167th Income Tax celebrations in New Delhi

      July 25, 2026

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      The Union Finance Minister reiterates fair, efficient, transparent and taxpayer-centric administration

      Income-tax Act, 2025 and new rules and forms mark landmark reforms towards simpler and taxpayer-friendly tax system: Revenue Secretary Shri Arvind Shrivastava

      CBDT Chairman Ravi Agarwal highlights progress in faster return processing, grievance redressal and litigation reduction

      CBDT advances technology-led tax administration through PAN 2.0, ITBA 2.0, IEC 3.0 and SAKSHAM NUDGE

      FM Smt. Sitharaman releases six publications highlighting India's growing leadership in international taxation and taxpayer-centric governance

      Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participated in the 167th anniversary of Income Tax Day celebrations by Central Board of Direct Taxes (CBDT) in New Delhi.

      Shri Arvind Srivastava, Secretary, D/o Revenue; Shri Ravi Agrawal, Chairman, CBDT; Shri Vivek Chaturvedi, Chairman, CBIC: Members of CBDT and CBIC and other senior officers and officials of the Department were present on the occasion.

      Addressing the 167th Income Tax Day celebrations, Union Finance Minister Smt. Sitharaman emphasised that the role of the Income Tax Department has evolved from tax collection to building a fair, efficient, transparent and taxpayer-centric tax administration. She described the implementation of the Income-tax Act, 2025 as a landmark reform that has simplified the law, reduced compliance costs and strengthened ease of doing business. She also highlighted the enhanced capacity of the e-Filing portal, improved return processing, prompt refunds and significant progress in grievance redressal, while stressing that the Department must move beyond disposal of grievances to analysing recurring issues and preventing them through systemic improvements. She outlined the 5Rs of Responsive Tax Governance - Recognise, Respond, Redress, Reflect and Reform, as guiding principles for taxpayer service, emphasising that honest taxpayers should experience convenience, opportunities to correct bona fide errors and a tax administration that exercises its authority with humility. Stressing that taxpayers are partners in India's development, she called for a continued focus on reducing litigation by strengthening tax certainty.

      FM Smt. Sitharaman also underlined the importance of strengthening institutional capacity through modern infrastructure, technology and continuous investment in human capital. She appreciated the progress made in upgrading offices and welfare facilities and called for greater capacity building in emerging areas such as artificial intelligence, data analytics, forensic accounting, international taxation, transfer pricing, digital assets, cybersecurity and leadership development. She urged the Department to deepen voluntary compliance, further simplify the taxpayer experience, strengthen tax certainty, harness technology responsibly, build institutional excellence, reinforce public trust and embrace continuous improvement. Congratulating the officers and staff of the Income Tax Department on the occasion of the 167th Income Tax Day, she expressed confidence that the Department would continue to play a pivotal role in promoting ease of doing business, strengthening taxpayer confidence and supporting India's economic growth.

      In his address on the occasion, Shri Arvind Shrivastava, Secretary, D/o Revenue, Ministry of Finance, extended his greetings to the officers and officials of the Income Tax Department and described the implementation of the Income-tax Act, 2025 and the new Income-tax Rules and Forms as landmark reforms towards a simpler, clearer and more taxpayer-friendly tax system, and appreciated the Department's efforts in strengthening taxpayer outreach, grievance redressal, litigation management and technology-driven service delivery. Emphasising the need to leverage technology while keeping taxpayers at the centre of reforms, he called for continued focus on ease of compliance, tax certainty, quality service delivery and innovation, and expressed confidence that the Department would continue to strengthen public trust and contribute to the vision of Viksit Bharat by 2047.

      Welcoming the dignitaries on behalf of the Income Tax Department, Shri Ravi Agrawal, recalled the priorities set out by the Union Finance Minister during the previous Income Tax Day celebrations and the expectations articulated at the PRARAMBH programme earlier this year, he outlined the Department's progress over the past year in translating those directions into measurable outcomes. He highlighted the Department's sustained efforts towards reducing litigation, faster disposal of appeals and enhancing tax certainty through Advance Pricing Agreements.

      He also noted the achievements in the areas of expeditious return processing, appeal-effect orders and refunds, and strengthening grievance redressal. He further highlighted the Department's achievements in expanding taxpayer outreach through initiatives such as PRARAMBH and Samvaad. He also underscored the Department's continued focus on leveraging technology through initiatives such as PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and the SAKSHAM NUDGE framework to simplify compliance, improve taxpayer experience and strengthen voluntary compliance. He expressed his appreciation to all CBDT verticals, including the Exemptions vertical, and the officers involved in framing the Rules and Forms under the Income-tax Act, 2025. Expressing gratitude for the continued guidance and support of the Hon'ble Finance Minister, he reaffirmed the Department's commitment to building a fair, transparent and trusted tax administration through innovation, collaboration and citizen-centric governance.

      The Union Finance Minister also released six flagship publications of the Income Tax Department, reflecting its continued commitment to knowledge sharing, capacity building, transparency and taxpayer-centric governance. These included:

      • Avlokan, the inaugural Annual Report of the FT&TR Division highlighting India's growing leadership in international taxation;
      • The Manual on Exchange of Information; the updated Guidance Note on FATCA & CRS;
      • India's first comprehensive Guidance Note on Crypto Asset Reporting Obligations for Crypto-Asset Service Providers;
      • The Annual Report of the APA Programme, showcasing the programme's progress; and
      • Re-engineering Tax Governance, tracing the Department's journey of transformation from paper-based processes to an integrated, technology-driven and taxpayer-centric digital ecosystem.

      Four short films showcasing the history of taxation, the Karmyogi Shiksha Path Portal, achievements of Income-Tax department in FY 2025-26 and the reimagining of taxpayer communication in the digital age were also screened during the event.

      The function ended with a vote of thanks proposed by Smt. G. Aparna Rao, Member, CBDT. She thanked the Union Finance Minister for gracing the occasion and inspiring the Department with her words of wisdom. She also thanked all the other dignitaries present on the occasion. She also thanked the media and organisers of the event.

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