NewzIntel.com

Category: Banking

  • MIL-OSI Security: 5 Men Plead Guilty for Role in Global Digital Asset Investment Scam Conspiracy Resulting in Theft of More than $36.9 Million from Victims

    Source: Office of United States Attorneys

    LOS ANGELES – Five men have pleaded guilty for their roles in laundering more than $36.9 million from victims of an international digital asset investment scam conspiracy that was carried out from scam centers in Cambodia, the Justice Department announced today.

    The following defendants were part of an international criminal network that induced U.S. victims, believing they were investing in digital assets, to transfer funds to accounts controlled by co-conspirators and that laundered victim money through U.S. shell companies, international bank accounts, and digital asset wallets:

    • Joseph Wong, 33, of Alhambra;
    • Yicheng Zhang, 39, of China;
    • Jose Somarriba, 55, of Los Angeles;
    • Shengsheng He, 39, of La Puente; and
    • Jingliang Su, 44, of China and Turkey.

    As part of the conspiracy, co-conspirators residing overseas contacted U.S. victims directly through unsolicited social media interactions, telephone calls, text messages, and online dating services and gain the victims’ trust.

    The co-conspirators then promoted fraudulent digital asset investments to the victims. Scammers would tell victims that their investments were appreciating in value when, in fact, those funds were stolen and not invested at all.

    Instead, more than $36.9 million in victim funds were transferred from U.S. bank accounts controlled by the co-conspirators to a single account at Deltec Bank in the Bahamas, opened in the name of Axis Digital Limited.

    Somarriba, He, and Su directed Deltec Bank to convert victim funds to the stablecoin Tether (USDT) and to transfer the converted funds to a digital asset wallet controlled by individuals in Cambodia. From there, co-conspirators in Cambodia transferred the USDT to the leaders of scam centers throughout the region including in Sihanoukville, Cambodia.

    Somarriba and He founded Axis Digital and opened the Deltec Bank account. Su joined Axis Digital as a director and participated in the digital asset conversions and transfers of victim funds.

    Wong managed a network of money launderers in Los Angeles who registered shell companies, opened U.S. bank accounts, and wired victim funds to international bank accounts. Zhang opened and operated two U.S. bank accounts used to launder victim proceeds.

    Zhang and Wong pleaded guilty to money laundering conspiracy. They each face a maximum penalty of 20 years in prison. Zhang has been in custody since May 2024. He, Somarriba, and Su pleaded guilty to conspiracy to operate an unlicensed money services business. He, Somarriba, and Su each face a maximum penalty of five years in prison. Su has been in custody since November 2024 and has a sentencing hearing scheduled for November 17.

    Eight co-conspirators have pleaded guilty so far, including Daren Li, a national of China and St. Kitts and Nevis and former resident of Cambodia and the United Arab Emirates who has been in U.S. custody since April 2024, and Lu Zhang, a Chinese national illegally in the United States who managed a network of U.S.-based money launderers, who pleaded guilty to conspiracy to commit money laundering on Nov. 12, 2024 and May 13, 2024, respectively.

    The United States Secret Service’s Global Investigative Operations Center is investigating the case. The Homeland Security Investigations’ El Camino Real Financial Crimes Task Force, Customs and Border Protection’s National Targeting Center, U.S. Department of State’s Diplomatic Security Service, Dominican National Police, and U.S. Marshals Service provided valuable assistance.

    Assistant United States Attorneys Maxwell Coll and Alexander Gorin of the Cyber and Intellectual Property Crimes Section, Assistant United States Attorney Nisha Chandran of the Major Frauds Section, and Trial Attorneys Stefanie Schwartz of the Criminal Division’s Computer Crime and Intellectual Property Section and Tamara Livshiz of the Criminal Division’s Fraud Section are prosecuting these cases.

    If you or someone you know is a victim of a digital asset investment fraud, report it to IC3.gov. 

    MIL Security OSI –

  • MIL-Evening Report: Albanese announces first woman Treasury secretary and a ‘roundtable’ on boosting productivity

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Treasury head Steven Kennedy will become Anthony Albanese’s right-hand bureaucrat, while Treasury will get its first female secretary, with the appointment of Jenny Wilkinson, who currently heads the Finance Department.

    Kennedy, to be the new secretary of the Department of the Prime Minister and Cabinet, replaces Glyn Davis, who announced after the election he was leaving the post after just three years.

    Kennedy, 60, has had a close working relationship with Treasurer Jim Chalmers. He also served Chalmers’ Liberal predecessor, Josh Frydenberg, during the pandemic, when the Treasury was the main bureaucratic architect of the JobKeeper scheme that provided subsidies to business to keep on workers.

    Wilkinson, 58, has been secretary of the Finance Department since August 2022. She was previously a deputy secretary in Treasury, where she worked on the pandemic economic stimulus measures. She is also a former head of the Parliamentary Budget Office.

    As Treasury secretary, Wilkinson will take Stevens’ place on the Reserve Bank.

    Chalmers described Kennedy and Wilkinson as “the best of the best”, saying they were “outstanding public servants”.

    Finance Minister Katy Gallagher said Wilkinson’s appointment not only recognised her talent, skills and expertise, “but it also serves as an important reminder for women and girls across the country that all positions in the Australian Public Service – no matter how senior – are roles that women can hold”.

    The prime minister announced the bureaucratic reshuffle during his Tuesday address to the National Press Club on his second term agenda.

    With Chalmers already having named productivity as his primary priority for this term, Albanese said he had asked the treasurer to convene “a roundtable to support and shape our government’s growth and productivity agenda”.

    The summit, at Parliament House in August, will bring together a group of leaders from business, unions and civil society. More details will come in a speech on productivity by Chalmers next week.

    “This will be a more streamlined dialogue than the Jobs and Skills Summit, dealing with a more targeted set of issues,” Albanese said.

    “We want to build the broadest possible base of support for further economic reform, to drive growth, boost productivity, strengthen the budget, and secure the resilience of our economy, in a time of global uncertainty.

    “What we want is a focused dialogue and constructive debate that leads to concrete and tangible actions.”

    Albanese said the government’s starting point was clear, “Our plan for economic growth and productivity is about Australians earning more and keeping more of what they earn.” The aim was for growth, wages and productivity to rise together.

    The Productivity Commission recently released 15 “priority reform areas” to further explore as part of the five productivity inquiries that the government has commissioned it to undertake.

    The commission’s March quarterly bulletin shows a 0.1% decline in labour productivity in the December quarter, and a 1.2% decline over the year.

    COVID produced a temporary lift in productivity but that soon passed.

    In general Australia’s labour productivity has not significantly increased in more than a decade.

    Welcoming the roundtable, Australian Industry Group Chief Executive Innes Willox said it was “critical that this tripartite summit focus on getting private sector investment moving again. Our economy and labour market has been unsustainably reliant on government spending for a prolonged period now.”

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Albanese announces first woman Treasury secretary and a ‘roundtable’ on boosting productivity – https://theconversation.com/albanese-announces-first-woman-treasury-secretary-and-a-roundtable-on-boosting-productivity-257334

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Banking: Thin, Light & Built to Last: The New Era of the Galaxy Z Series

    Source: Samsung

    While people have long valued smartphones for their power, convenience and usability, they’ve also expected a mobile device that blends versatility with portability. At Samsung Electronics, our drive to deliver the ultimate mobile experience has always been guided by the needs of our users.
     
    This unwavering commitment to meeting their evolving needs has driven the development and ongoing refinement of innovative form factors that consistently redefine the parameters of mobile experiences. Introduced in 2019, the first Galaxy Fold was a completely new form factor that combined the portability of a smartphone with the extensive productivity of a tablet — challenging conventional perceptions of what a smartphone could be.
     
    Driven by the bold vision that foldable phones could reconcile two seemingly conflicting demands — large screens and true portability — Samsung looked to other industries for inspiration, engineering a durable hinge and proving that smartphone displays, too, could fold. It was a synthesis of creativity and productivity that unlocked new possibilities – from seamless multitasking on the go to immersive content creation.
     
    But smartphones are constant companions that we tuck into our pockets, use with one hand and take everywhere we go. So it’s only natural that users desire a foldable device that is as easy to carry as it is to use. To that end,  Samsung engineers and designers are refining each generation of the Galaxy Z series to be thinner, lighter and more durable than the last.
     

     
    This year, that journey reaches a new milestone. The newest Galaxy Z series is the thinnest, lightest and most advanced foldable yet – meticulously crafted and built to last.
     
    The Ultra-experience is ready to unfold.

    MIL OSI Global Banks –

  • MIL-OSI: Sydbank A/S share buyback programme: transactions in week 23

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 26/2025

    		 Peberlyk 4
    6200 Aabenraa
    Denmark

    Tel +45 74 37 37 37
    Fax +45 74 37 35 36

    Sydbank A/S
    CVR No DK 12626509, Aabenraa
    sydbank.dk
    10 June 2025  

    Dear Sirs

    Sydbank A/S share buyback programme: transactions in week 23
    On 26 February 2025 Sydbank A/S announced a share buyback programme of DKK 1,350m. The share buyback programme commenced on 3 March 2025 and will be completed by 31 January 2026.

    The purpose of the share buyback programme is to reduce the share capital of Sydbank A/S and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

    The following transactions have been made under the share buyback programme:

      Number of shares VWAP Gross value (DKK)
    Accumulated, most recent
    Announcement

    933,000

    		  

    391,688,360.00
    02. June 2025
    03. June 2025
    04. June 2025
    05. June 2025 (Constitution Day)
    06. June 2025    		 13,000
    12,000
    12,000
    –
    13,000    		 444.21
    442.90
    443.61
    –
    448.68    		 5,774,730.00
    5,314,800.00
    5,323,320.00
    –
    5,832,840.00
    Total over week 23 50,000   22,245,690.00
    Total accumulated during the
    share buyback programme

    983,000

    		  

    413,934,050.00

    All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.

    Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and Commission delegated regulation, is available in the attachment.

    Following the above transactions, Sydbank A/S holds a total of 983,283 own shares, equal to 1.92% of the Bank’s share capital.

    Yours sincerely
            
    Mark Luscombe        Jørn Adam Møller
    CEO        Deputy Group Chief Executive

    Attachment

    The MIL Network –

  • MIL-OSI: Danske Bank share buy-back programme: transactions in week 23

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 28 2025

    Danske Bank

    Bernstorffsgade 40

    DK-1577 København V

    Tel. + 45 33 44 00 00

    10 June 2025

    Page 1 of 1

    Danske Bank share buy-back programme: transactions in week 23

    On 7 February 2025, Danske Bank A/S announced a share buy-back programme for a total of DKK 5 billion, with a maximum of 45,000,000 shares, in the period from 10 February 2025 to 30 January 2026, at the latest, as described in company announcement no. 6 2025.

    The Programme is carried out in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions on Nasdaq Copenhagen A/S were made under the share buy-back programme in week 23:
      Number of shares VWAP DKK Gross value DKK
    Accumulated, last announcement 6,477,261 227.4022 1,472,943,092
    02 June 2025 50,000 256.9927 12,849,635
    03 June 2025 50,000 256.8456 12,842,280
    04 June 2025 50,000 256.5587 12,827,935
    05 June 2025      
    06 June 2025 49,641 259.2964 12,871,733
    Total accumulated over week 23 199,641 257.4200 51,391,583
    Total accumulated during the share buyback programme 6,676,902 228.2997 1,524,334,675

    With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.794% of Danske Bank A/S’ share capital.

    Danske Bank

    Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Samarkand 2026: ADB’s 59th Annual Meeting in the Heart of History

    Source: Asia Development Bank

    Uzbekistan will host the Asian Development Bank’s (ADB) 59th Annual Meeting on 3 to 6 May 2026. The meeting will be held in the historic city of Samarkand, one of the oldest continuously inhabited cities in the world. This is the second time that Uzbekistan will host the ADB Annual Meeting, following the successful 43rd Annual Meeting in Tashkent in 2010.

    MIL OSI Economics –

  • MIL-OSI Africa: Statement by African Export-Import Bank (Afreximbank) on recent Fitch Ratings Report

    Source: Africa Press Organisation – English (2) – Report:

    Source: Afreximbank |

    Statement by African Export-Import Bank (Afreximbank) on recent Fitch Ratings Report

    Fitch also acknowledges the Bank’s strong capitalization including its “strong equity to assets and guarantees ratio” and “excellent internal capital generation”

    The bank operates with a high level of collateral and credit risk mitigants and has already taken relatively large provisions on some sovereign exposures

    CAIRO, Egypt, June 10, 2025/APO Group/ —

    • Afreximbank (www.Afreximbank.com) operates under very high standards of financial transparency. The Bank’s financial reporting strictly adheres to International Financial Reporting Standards (IFRS), including IFRS 9. This standard governs the classification and staging of loan performance, including the treatment of non-performing loans, amongst other matters. The Bank’s application of IFRS 9 is comprehensively detailed in its 2024 Financial Statements and further clarified in the external auditors’ report. As cited in the ratings report, dated 4 June 2025, “Fitch’s definition of NPLs differs from the Bank’s approach, which makes use of forward-looking information”.
    • It is important to note that Fitch acknowledges Afreximbank’s financial resilience, highlighting that “the bank operates with a high level of collateral and credit risk mitigants and has already taken relatively large provisions on some sovereign exposures, which would reduce any potential further negative financial impact for the bank”.
    • Fitch also acknowledges the Bank’s strong capitalization including its “strong equity to assets and guarantees ratio” and “excellent internal capital generation”.  Concentration risk is also reported as “low” and its liquidity assessment of “a” reflects the Bank’s “strong quality of treasury assets”. The Bank believes that these factors reinforce the overall soundness of the Bank’s risk management framework.
    • Fitch’s ‘negative outlook’ decision, which it says reflects “the risk that the debt owed to Afreximbank by some of its sovereign borrowers may be restructured”, is hinged on the erroneous view, in some quarters, that the treaty establishing Afreximbank, executed by its 53 participating African states, can be violated by the Bank without consequences. For clarity, the Bank establishment agreement is a treaty entered into by, and among, all participating states and between the participating states and the Bank. Accordingly, Afreximbank would like to reaffirm that it is not participating in debt restructuring negotiations related to any of its member countries. To do so would be inconsistent with the Bank establishment treaty. The treatment of its loans and other activities is governed by the treaty and not by classifications created outside its framework.
    • Afreximbank’s financial resilience, robust governance and unwavering commitment to excellence, and to Africa, are critical to the delivery of its mandate. The Bank remains committed to supporting its member countries in navigating their economic challenges while promoting trade-led growth, economic development and general macroeconomic stability.

    Distributed by APO Group on behalf of Afreximbank.

    Statement by African Export-Import Bank (Afreximbank) on recent Fitch Ratings Report Fitch also acknowledges the Bank’s strong capitalization including its “strong equity to assets and guarantees ratio” and “excellent internal capital generation” CAIRO, Egypt, June 10, 2025/APO Group/ —

    • Afreximbank (www.Afreximbank.com) operates under very high standards of financial transparency. The Bank’s financial reporting strictly adheres to International Financial Reporting Standards (IFRS), including IFRS 9. This standard governs the classification and staging of loan performance, including the treatment of non-performing loans, amongst other matters. The Bank’s application of IFRS 9 is comprehensively detailed in its 2024 Financial Statements and further clarified in the external auditors’ report. As cited in the ratings report, dated 4 June 2025, “Fitch’s definition of NPLs differs from the Bank’s approach, which makes use of forward-looking information”.
    • It is important to note that Fitch acknowledges Afreximbank’s financial resilience, highlighting that “the bank operates with a high level of collateral and credit risk mitigants and has already taken relatively large provisions on some sovereign exposures, which would reduce any potential further negative financial impact for the bank”.
    • Fitch also acknowledges the Bank’s strong capitalization including its “strong equity to assets and guarantees ratio” and “excellent internal capital generation”.  Concentration risk is also reported as “low” and its liquidity assessment of “a” reflects the Bank’s “strong quality of treasury assets”. The Bank believes that these factors reinforce the overall soundness of the Bank’s risk management framework.
    • Fitch’s ‘negative outlook’ decision, which it says reflects “the risk that the debt owed to Afreximbank by some of its sovereign borrowers may be restructured”, is hinged on the erroneous view, in some quarters, that the treaty establishing Afreximbank, executed by its 53 participating African states, can be violated by the Bank without consequences. For clarity, the Bank establishment agreement is a treaty entered into by, and among, all participating states and between the participating states and the Bank. Accordingly, Afreximbank would like to reaffirm that it is not participating in debt restructuring negotiations related to any of its member countries. To do so would be inconsistent with the Bank establishment treaty. The treatment of its loans and other activities is governed by the treaty and not by classifications created outside its framework.
    • Afreximbank’s financial resilience, robust governance and unwavering commitment to excellence, and to Africa, are critical to the delivery of its mandate. The Bank remains committed to supporting its member countries in navigating their economic challenges while promoting trade-led growth, economic development and general macroeconomic stability.

    Distributed by APO Group on behalf of Afreximbank. Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@afreximbank.com Website: www.Afreximbank.com

    Text copied to clipboard.

    MIL OSI Africa –

  • MIL-OSI Video: ECB Conference on Financial Stability and Macroprudential Policy 2025 – Day 1

    Source: European Central Bank (video statements)

    https://www.youtube.com/watch?v=GVTf7C7xlkY

    MIL OSI Video –

  • MIL-OSI: Share repurchase programme: Transactions of week 23 2025

    Source: GlobeNewswire (MIL-OSI)

    The share repurchase programme runs as from 26 February 2025 and up to and including 30 January 2026 at the latest. In this period, Jyske Bank will acquire shares with a value of up to DKK 2.25 billion, cf. Corporate Announcement No. 3/2025 of 26 February 2025. The share repurchase programme is initiated and structured in compliance with the EU Commission Regulation No. 596/2014 of 16 April 2014, the so-called “Market Abuse Regulation”, and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions have been made under the program:

      Number of
    shares    		 Average purchase
    price (DKK)    		 Transaction
    value (DKK)
    Accumulated, previous announcement 974,459 536.50 522,798,345
    2 June 2025 2,000 628.79 1,257,572
    3 June 2025 2,000 623.72 1,247,438
    4 June 2025 2,000 625.45 1,250,896
    6 June 2025 1,944 630.53 1,225,757
    Accumulated under the programme 982,403 537.23 527,780,007

    Following settlement of the transactions stated above, Jyske Bank will own a total of 3,747,521 of treasury shares, excluding investments made on behalf of customers and shares held for trading purposes, corresponding to 5.83% of the share capital.

    Attached to this corporate announcement, aggregated details on the transactions related to the share repurchase programme are shown by venue.
                                                             
    Yours faithfully,
    Jyske Bank

    Contact: Birger Krøgh Nielsen, CFO, tel. +45 89 89 64 44.

    Attachment

    The MIL Network –

  • MIL-OSI: Municipality Finance issues a GBP 100 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    10 June 2025 at 10:00 am (EEST)

    Municipality Finance issues a GBP 100 million tap under its MTN programme

    On 11 June 2025 Municipality Finance Plc issues a new tranche in an amount of GBP 100 million to an existing benchmark issued on 7 March 2024. With the new tranche, the aggregate nominal amount of the benchmark is GBP 650 million. The maturity date of the benchmark is 2 October 2028. The benchmark bears interest at a fixed rate of 4.375 % per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 11 June 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    Deutsche Bank Aktiengesellschaft acts as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland.
    The Group’s balance sheet is over EUR 53 billion.

    MuniFin builds a better and more sustainable future with its customers. Our customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: www.munifin.fi

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: UAB Atsinaujinančios energetikos investicijos (AEI) Public Bond Offering Closes Soon – Submit Your Orders in Time

    Source: GlobeNewswire (MIL-OSI)

    The public bond offering by UAB Atsinaujinančios energetikos investicijos (AEI) is nearing its conclusion.

    Key dates:

    • Investment and switch orders can be submitted until 11 June, 3:30 PM
    • Tender offers can be submitted until 12 June, 3:30 PM

    Key bond issue details: 

    • Issue size: up to 100 mEUR
    • Size of the first tranche: up to 65 mEUR
    • Interest rate: 8 % 
    • Minimum investment amount: 100 000 EUR
    • Term: 2,5 years

    For more information and full documentation click here. 

    HOW TO INVEST?

    Contact the financial brokerage company/bank (LHV, Signet, Swedbank, SEB Bank and others) handling your securities account for the submission of an investment order.

    If you do not have an investment services agreement concluded with a financial intermediary, send us an email to: bonds@orion.lt 

    The MIL Network –

  • MIL-OSI China: Announcement on Open Market Operations No.108 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.108 [2025]

    (Open Market Operations Office, June 10, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB198.6 billion through quantity bidding at a fixed interest rate on June 10, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB198.6 billion

    RMB198.6 billion

    Date of last update Nov. 29 2018

    2025年06月10日

    MIL OSI China News –

  • MIL-OSI Banking: Result of the Daily Variable Rate Repo (VRR) auction held on June 10, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 3,853
    Amount allotted (in ₹ crore) 3,853
    Cut off Rate (%) 5.51
    Weighted Average Rate (%) 5.51
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/518

    MIL OSI Global Banks –

  • MIL-OSI Australia: New Secretary to the Treasury

    Source: Australian Parliamentary Secretary to the Minister for Industry

    I welcome the Prime Minister’s announcement today that Jenny Wilkinson will serve as the next Secretary to the Treasury and I thank him for the way he has involved and included Katy Gallagher and me in his decision.

    I am really excited by this opportunity to work even more closely with Jenny, whose contribution as the Secretary of the Department of Finance has been instrumental to our first four budgets and so much of the broader work of our government.

    I’m so grateful to Steven Kennedy for our very close and effective partnership over the past three years, for his friendship over a much longer period, for his service to my predecessor as well, and for the chance to work with him now in his new role.

    It was such a valued opportunity to work with him at Treasury.

    Steven and Jenny are the best of the best. Outstanding public servants and even better people. I’m really happy for them both and they should be very proud.

    Australia was incredibly fortunate to have someone of Steven’s calibre leading the Treasury, and is just as fortunate having him now lead the Australian Public Service.

    I pay tribute again to outgoing Prime Minister and Cabinet Secretary Glyn Davis, another friend, and thank him for his friendship and service.

    Jenny will make history as the first woman to lead the Treasury. Under our government women now lead the Treasury, Reserve Bank and Productivity Commission all for the first time.

    Jenny is one of Australia’s most distinguished and experienced economists and public servants and has served with distinction under governments of both political persuasions.

    I am really pleased that someone with her skills and experience will guide and lead the department, as we continue to develop and implement our economic agenda.

    Jenny holds a Masters Degree in Public Affairs from Princeton University, a Bachelors Degree in Economics (with Honours) from the Australian National University, and was awarded a Public Service Medal in 2021.

    Thank you Steven and Jenny for agreeing to serve and to the Prime Minister for appointing them to these key roles at such an important time.

    MIL OSI News –

  • MIL-OSI Banking: Money Market Operations as on June 09, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,80,215.04 5.22 0.01-6.55
         I. Call Money 14,727.29 5.30 4.75-5.40
         II. Triparty Repo 3,74,905.75 5.20 5.05-5.28
         III. Market Repo 1,86,432.00 5.25 0.01-6.25
         IV. Repo in Corporate Bond 4,150.00 5.48 5.39-6.55
    B. Term Segment      
         I. Notice Money** 79.40 5.27 5.05-5.30
         II. Term Money@@ 1,042.00 – 5.50-5.80
         III. Triparty Repo 1,925.00 5.26 5.20-5.30
         IV. Market Repo 1,395.17 5.27 1.00-5.44
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Mon, 09/06/2025 1 Tue, 10/06/2025 3,711.00 5.51
         (b) Reverse Repo          
    3. MSF# Mon, 09/06/2025 1 Tue, 10/06/2025 2,123.00 5.75
    4. SDFΔ# Mon, 09/06/2025 1 Tue, 10/06/2025 2,58,855.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,53,021.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,321.86  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     8,321.86  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,44,699.14  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 09, 2025 9,32,180.72  
         (ii) Average daily cash reserve requirement for the fortnight ending June 13, 2025 9,41,551.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 09, 2025 3,711.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 16, 2025 3,48,763.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/517

    MIL OSI Global Banks –

  • MIL-OSI China: Bank of Spain cuts growth forecasts amid US tariff uncertainty

    Source: People’s Republic of China – State Council News

    The Bank of Spain has revised downward its economic growth forecasts for the country, cutting the projection for 2025 from 2.7 percent to 2.4 percent, and that for 2026 to 1.8 percent, due to uncertainty stemming from U.S. tariff policies.

    Jose Luis Escriva, the bank’s governor, made the announcement on Monday during a speech to parliament’s economic commission, ahead of the publication of the bank’s quarterly report on the Spanish economy, scheduled for June 10.

    Escriva used the word “uncertainty” no fewer than 18 times in his speech, underlining that while Spain’s direct trade exposure to the U.S. is lower than that of other major European Union economies, the country is indirectly vulnerable, particularly in sectors such as chemicals, due to its integration into global value chains.

    He also warned that prolonged uncertainty could increasingly weigh on Spain’s economy. He noted that uncertainty remains the major concern for businesses, with many Spanish companies reporting impacts from the tariffs.

    Despite the downgraded growth forecast, the bank has retained its projection for the unemployment rate in 2025 at 10.5 percent, while slightly improving the estimate for 2026, lowering it to 10.2 percent from the previous report. 

    MIL OSI China News –

  • MIL-OSI Global: Trump orders Marines to Los Angeles as protests escalate over immigration raids, demonstrating the president’s power to deploy troops on US soil

    Source: The Conversation – USA – By William C. Banks, Professor Emeritus of Public Administration and International Affairs, Syracuse University

    National Guard members watch protests in Los Angeles on June 9, 2025. Luke Johnson/Los Angeles Times via Getty Images

    President Donald Trump ordered a contingent of about 700 Marines to Los Angeles on June 9, 2025, in response to what Secretary of Defense Pete Hegseth described as “increased threats to federal law enforcement officers and federal buildings.”

    This dramatic escalation of the military presence in Los Angeles followed Trump’s June 7 order to send about 2,000 National Guard troops into the city.

    Both measures were Trump’s response to what he called “numerous incidents of violence and disorder” by those protesting his administration’s actions rounding up and deporting immigrants in the Los Angeles area.

    State and local officials decried Trump’s actions, with California Gov. Gavin Newsom calling the move “purposefully inflammatory,” as well as “an illegal act.” California sued the Trump administration on June 9 to block its deployment of National Guard members. Other critics of Trump’s actions said the scale and character of the protests did not warrant such extreme measures.

    Amy Lieberman, a politics and society editor at The Conversation U.S., spoke with William C. Banks, a scholar of the role of the military in domestic affairs, to understand the extent of a president’s power to send American troops to Los Angeles.

    Hundreds of protesters march in Los Angeles on June 9, 2025, demanding an end to Immigration and Customs Enforcement workplace raids.
    Tayfun Coskun/Anadolu via Getty Images

    Can American troops be used inside the country?

    They can, but it is an extraordinary exercise of authority to use troops domestically. It has rarely been done in the U.S. as a way of responding to a civil disturbance.

    Congress has delegated that authority of deploying American troops domestically to the president in limited circumstances. Otherwise, the only authority is exercised by governors, who have control of the National Guard.

    Why was American law set up this way?

    The U.S. was founded in response to heavy-handed English use of the military by King George to interfere with the civil liberties and rights of the colonists in the lead-up to the American Revolution. So, when the founders created the U.S. Constitution, they were very careful to insert roadblocks that would make it difficult for the government to use troops to carry out its own programs.

    The country’s framers also understood there might be occasions when it would be necessary to use the military domestically. They did a couple of things to control the exercise of military authority. One was to ensure that the commander in chief of the military was a civilian. Second, they gave the authority to call up the National Guard, what was known as the “militia” in those days, to Congress, not to the president, in order to create a separation of powers.

    Under what circumstances can the president deploy troops to an American city?

    Under the Insurrection Act, which was signed into law in 1807, a president can deploy troops during what is called an insurrection, simply meaning when all hell breaks loose. The president can decide that it is “impracticable,” according to the Insurrection Act, to enforce the laws of the U.S. in a given city, and he may call forth the military or the National Guard to help restore law and order.

    In order to invoke the Insurrection Act, the president first has to make a proclamation to those he calls the insurrectionists to cease and desist. Unless the alleged insurrectionists immediately do what the president says, the president then has the authority to deploy forces.

    Trump has repeatedly called the protesters in Los Angeles “insurrectionists,” but has also walked those remarks back and hasn’t made any kind of formal proclamation yet. When Trump ordered California’s National Guard members to deploy to Los Angeles on June 7, he did so on a narrow statutory authority to protect federal buildings, properties and personnel that were trying to enforce immigration laws.

    What is the Posse Comitatus Act and how does it apply to the current situation in Los Angeles?

    Congress passed the Posse Comitatus Act in 1878. This act’s name derives from an arcane Latin term that means “the power of the county.” This law establishes a legal presumption in the U.S. that the military, if it is deployed domestically, should not engage in law enforcement.

    This act is an important part of American law. It means that the military and National Guard are trained on this principle that they are not to engage in domestic law enforcement activities. Those are reserved for police, sheriffs and marshals. Invoking the Insurrection Act is the principal exception to this law.

    So the Insurrection Act allows the military to act as law enforcement officials?

    That’s right. By invoking the Insurrection Act the military could act as cops and have the right to arrest, investigate and detain civilians, with only the Constitution as a check on its power.

    This is not a situation that California National Guard members have trained for. They are trained to fight actual wildfires, but this is something entirely different.

    Demonstrators hold signs and fly flags, facing California National Guard members, in Los Angeles on June 9, 2024.
    Apu Gomes/AFP via Getty Images

    Are there any legal roadblocks that could curb the president’s authority to send U.S. troops to Los Angeles?

    The short answer to this question is no.

    Can state governors or other elected officials prevent U.S. troops from being sent to their cities?

    In many ways that is the main question right now. California’s governor, Gavin Newsom, has said that the state doen’t need these military forces. Newsom’s June 9 lawsuit against the Trump administration argues that the authority over the National Guard is reserved for states, “unless the State requests or consents to federal control.” That has not happened in this case.

    William C. Banks does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Trump orders Marines to Los Angeles as protests escalate over immigration raids, demonstrating the president’s power to deploy troops on US soil – https://theconversation.com/trump-orders-marines-to-los-angeles-as-protests-escalate-over-immigration-raids-demonstrating-the-presidents-power-to-deploy-troops-on-us-soil-258527

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Kenya pledges to accelerate efforts to boost intra-African trade

    Source: Africa Press Organisation – English (2) – Report:

    NAIROBI, Kenya, June 9, 2025/APO Group/ —

    Kenya is working towards fast-tracking implementation of the African Continental Free Trade Area (AfCFTA) to unlock opportunities for businesses in the country across the continent.

    Speaking during the Kenya IATF2025 Business Roadshow event, Kenya’s Cabinet Secretary, Ministry of Investments, Trade and Industry, Hon. Lee Kinyanjui said the government is positioning and consolidating Kenya as a Trade, industrial and innovation hub to strategically tap into trade and investment opportunities presented by AfCFTA.

    “The solutions to Africa’s problems lie with Africans. It is essential for countries within the continent to strengthen intra-African trade.

    The IATF 2025 offers a vital platform to advance the AfCFTA agenda. With a well-educated population, abundant resources, and banks ready to finance investment, Africa has what it takes to elevate itself to the next level.,” the Cabinet Secretary said.

    The Kenya IATF2025 Business Roadshow attracted over 200 members of Kenya’s business community, including buyers, creatives, automotive sector players, policymakers and investors together with executives and officials of African Export-Import Bank (Afreximbank) and African Union Commission (AUC). It focused on exploring ways of promoting intra-African trade. The theme was Harnessing Regional and Continental Value Chains: Accelerating Africa’s Industrialisation and Global Competitiveness under the AfCFTA.

    Harnessing regional and continental value chains under the AfCFTA is crucial for Africa’s industrial growth and global competitiveness. By creating a large, integrated market, the AfCFTA encourages countries to tap into the continental market by scaling up productive capacity and add value to products, create an enabling environment, attracting investment and creating jobs. This boosts economic diversification, expand productive base, and supports Africa’s vision for sustainable and inclusive development.

    The roadshow is one of the five in the series of planned for Nairobi, Accra, Johannesburg, Lagos and Algiers ahead of the fourth edition of the biennial Intra-African Trade Fair (IATF2025) that will be held in Algiers, Algeria from 4 – 10 September 2025 under the theme Gateway to New Opportunities. IATF is Africa’s premier trade and investment event that serves as a crucial platform for fostering economic growth, collaboration, and innovation across the continent. Over the years, the IATF has established a track record as the premier African trade and investment platform and has achieved significant milestones since it was established in 2018 as an instrument to implement the AfCFTA Agreement. Hosted by the Government of Algeria and promoted by Afreximbank, in collaboration with the African Union Commission and the AfCFTA Secretariat, the IATF2025 event will provide businesses from Africa and beyond with a platform to showcase their goods and services and exchange trade and investment information.

    Addressing the forum, Afreximbank’s Executive Vice President, Global Trade Bank, Mr. Haytham Elmaayergi said: “One of the key objectives of the IATF is to address access to trade and market information for intra-African trade to take place. For instance, as a result of a lack of information on African production and supply, countries like Tunisia, Morocco and South Africa import in excess of around US$400 million worth of leather products, mainly from Europe and South America, while countries like Ethiopia, Kenya, and Sudan—which have the supply capacity to meet a substantial part of this demand—continue to export their leather products to markets in Europe and Asia.”

    “Kenya has rapidly emerged as a major force in digitalisation and innovation, both within the region and across Africa. The IATF presents a great opportunity for Kenyan Fintech companies, mobile money innovators and other technology companies to come together and showcase their ingenuity to diverse sectors on the continent. It could potentially help them scale beyond the Kenyan borders as well as attract investment to their respective businesses.” added Mr. Elmaayergi. 

    Mr Elmaayergi made a clarion call for businesses, public and private sector in Kenya to participate and showcase their goods and services in IATF2025, where more than 2,000 exhibitors, including businesses from the African continent and globally, will exchange trade, market and investment information and showcase their goods and services to over 35,000 visitors and buyers from more than 140 countries. This is projected to translate into over US$44 billion in trade and investment deals.

    IATF is a platform for boosting trade and investment in Africa. In the last three editions of IATF, over $100 billion in trade and investment deals have been closed cumulatively with over 70,000 visitors and more than 4,500 exhibitors participating.

    Some of the activities lined up for the week-long IATF2025 include a trade exhibition by countries and businesses; the Creative Africa Nexus (CANEX) programme with a dedicated exhibition and summit on fashion, music, film, arts and craft, sports, literature, gastronomy and culinary arts; a four-day Trade and Investment Forum featuring leading African and international speakers; and the Africa Automotive Show for auto manufacturers, assemblers, original equipment manufacturers and component suppliers.

    Special Days will also be held, dedicated for countries as well as public and private entities to showcase trade and investment opportunities, and tourism and cultural attractions, as well as Global Africa Day to highlight commercial and cultural ties between Africa and its diaspora, featuring a Diaspora Summit, market and exhibition, cultural and gastronomic showcase.

    Also planned is a business-to-business (B2B) and business-to-government (B2G) platform for matchmaking and business exchanges; the AU Youth Start-Up programme showcasing innovative ideas and prototypes; the Africa Research and Innovation Hub @ IATF targeting university students, academia and national researchers to exhibit their innovations and research projects; and the African Sub-Sovereign Governments Network (AfSNET) to promote trade, investment, educational and cultural exchanges at the local level. The IATF Virtual platform is already live, connecting exhibitors and visitors throughout the year.

    To participate in IATF2025 please visit www.IntraAfricanTradeFair.com.

    MIL OSI Africa –

  • MIL-OSI Economics: Moving the Boundaries of Financial Inclusion- A Regulatory Perspective – Address delivered by Shri M Rajeshwar Rao, Deputy Governor, Reserve Bank of India – June 05, 2025 – at HSBC’s event for Financial Inclusion in Mumbai

    Source: Reserve Bank of India

    Distinguished guests, participants, ladies and gentlemen, Good evening.

    At the outset, let me thank the organisers for inviting me to share some of my thoughts on the theme of financial inclusion. Before that, let me take a moment to acknowledge that today i.e., June 05, 2025, is the World Environment Day, an UN-recognized day that brings together people across the globe in a shared mission to safeguard and restore our planet. This year’s theme of ending plastic pollution is a call to all of us to make a behavioural shift in our daily life choices. In the spirit of preserving the purity of our environment and safeguarding our well-being, let us commit toward making more sustainable choices.

    2. Coming back to our theme for the day, let me begin by stating the obvious that financial inclusion is not just a policy objective but a collective obligation and responsibility for all stakeholders in the financial ecosystem. The importance of the theme can be underscored by the fact that at least seven out of the seventeen United Nations Sustainable Development Goals of 2030 view financial inclusion as a key enabler for achieving sustainable development worldwide by improving the quality of lives of poor and marginalized sections of the society. It is seen as a way to bridge the gap between the privileged and the under-privileged and a way to bring people out of poverty. An inclusive financial system has the potential to reduce income inequality and poverty, promote social cohesion and enable shared economic development. It also can dissuade the disadvantaged and low-income segments of society from seeking out informal options that renders them vulnerable to financial distress, debt, and poverty.

    History of Financial Inclusion in India

    3. Given the theme for today’s discourse, it would be worthwhile to set the historical context regarding financial inclusion in India. While the financial inclusion initiatives in our country can in many ways be traced back to the 1950s, with significant developments ensuing in the subsequent decade, it was the National Credit Council meeting of July 1968 that paved the way for framing of Priority Sector Lending (PSL) guidelines, nationalisation of select private banks in July 1969 and launch of the Lead Bank Scheme in December 1969 that were the precursors of this journey. The branch expansion policy adopted by RBI during the 1970s, which required a specific number of branches to be opened in rural areas for every branch opened in urban areas, became the foundation for expanding the reach of banking services that we see today. Besides, the experiments with group-based lending towards the turn of the last century and proliferation of microfinance institutions have also helped link the unserved section of the population with the formal banking system.

    4. Interestingly, the above initiatives were taken during a period when the term ‘financial inclusion’ was not prevalent in the country. The first reference to the term was made in RBI’s Annual Policy Statement for the Year 2005-06 by Dr Y.V. Reddy2, the then Governor of the Reserve Bank of India, who highlighted ‘financial exclusion’ that resulted due to certain banking practices. Banks were then urged to review their existing practices to align them with the objective of financial inclusion, leading to the genesis of ‘no frills’ account, which are now known as Basic Savings Bank Deposit Accounts.

    Financial Inclusion in Indian Context

    5. The first step in promoting financial inclusion is understanding its nuances, which are as dynamic and diverse as the Indian economy itself, and thereafter outline its ambit in the Indian context. Given its multi-faceted nature, various organisations and jurisdictions have defined financial inclusion in different ways. In India, the formal definition of financial inclusion3 was given in January 2008 by the Committee on Financial Inclusion chaired by Dr C Rangarajan as “the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low-income groups at an affordable cost”. Reflecting the priorities of that time, the definition focused largely on the access to financial services. Currently we have a scenario, where more than 95% households have access to a bank account4, which reflects remarkable progress on one out of three parameters of Financial Inclusion Index developed by the Reserve Bank to measure the extent of financial inclusion in the country.

    6. While there has been a significant progress in expanding the banking reach, it is also important to ensure that inherent barriers to a gamut of financial products and services are eliminated and usage of these services expands to various segments of yet underserved and un-served population in the country. Efforts towards making financial services accessible become futile if they are not used by the intended population or are used without appropriate awareness of its risks and benefits. Thus, the other two parameters of RBI’s financial inclusion index, viz., usage and quality of the financial services cannot be overlooked while defining or measuring financial inclusion. Over the last few years this index has shown reasonable improvement, but there is a scope for improvement in some aspects.

    Current Scenario

    7. To get a perspective on the current scenario, it would be worthwhile to dwell a bit on some of the recent developments in the journey of financial inclusion in the country. Several policy measures towards furthering financial inclusion have been undertaken from time to time, but it was the launch of Pradhan Mantri Jan Dhan Yojana (PMJDY) that became the watershed moment in this journey. The Jan Dhan Yojana – Aadhar – Mobile i.e., JAM trinity provided a quantum leap in our endeavour to ensure access to banking services for all adults, making it the world’s largest financial inclusion program. As of May 21, 20255, 55.44 crore Jan Dhan accounts, 56% of which belong to women, have over ₹2.5 lakh crore worth of deposits, which speaks volumes about the impact of the scheme. The provision of universal access to bank accounts has not only increased the potential reach of other financial services but has also enabled frictionless delivery of welfare programs to the targeted segment through adoption of Direct Benefit Transfer (DBT).

    Digital Payments

    8. Access to a bank account is a prerequisite for availing other financial services, and a robust payments and settlements system is an indispensable enabler for proliferation of formal financial services. Over the past decade, the fundamentals of banking have changed with the advent of digital modes of banking like net banking and mobile banking as well as digital payments systems like Unified Payment Interface (UPI). In FY 2024-25, digital payments surged 35% Y-o-Y by volume to 60.81 crore transactions per day, with UPI accounting for 83.73% of such transactions6. The extraordinary uptake of UPI stands as a testament to the power of collaborative and use-case-driven innovation in driving financial inclusion. A particularly compelling example of this transformation can be seen in the informal sector—where today a street vendor or pop-up store owner nonchalantly places a QR code at the fore and receives payment for services without any hassle for cash and quietly integrating himself into the formal financial system with dignity and ease.

    9. For further expanding and deepening the digital payments ecosystem in the country, a Payments Infrastructure and Development Fund has been constituted to encourage deployment of payment acceptance infrastructure. Further, all State and Union Territory Level Bankers’ Committees have been advised to identify districts and assign them to designated banks, with an endeavour to make these districts 100 per cent digitally enabled. The objective is to provide every eligible individual in the identified district at least one mode of digital payments viz., cards, net banking, UPI, AEPS7, etc. It is understood that as on March 31, 2025, 514 districts across 15 states and 6 UTs are 100 percent digitally enabled. This marks a significant milestone in our journey towards a digitally inclusive economy.

    RBI’s financial inclusion index.

    10. RBI’s financial inclusion index, which captures the extent of financial inclusion across the country, with four iterations published till date, has increased from 60.1 in March 2023 to 64.2 in March 2024, showing a Y-o-Y increase of 6.82 per cent. While the progress is appreciable, credit gaps still exist in the system which may be attributed amongst others to a lack of documentation available with the individuals/ entities in the informal system and of awareness regarding the various government schemes. There is as such a need to make concerted efforts to fill them.

    Recent regulatory initiatives

    11. The RBI has been sensitive to need to bring about improvement in the financial inclusion in the country. Some of the measures taken recently in this regard include raising the limit for collateral-free agriculture loans to ₹2 lakh per borrower, enhancing various loan limits under PSL, expansion of the list of eligible borrowers under the category of ‘Weaker Sections’ alongwith removal of existing cap on loans by UCBs to women beneficiaries. The scope of co-lending is proposed to be broadened by expanding the list of permitted regulated entities (REs) that can enter a co-lending arrangement and extending the same beyond PSL loans. A comprehensive review of the Lead Bank Scheme is also underway with an objective to enhance the effectiveness and impact of the scheme.

    12. With respect to digital payments, permissible transaction limit on UPI Lite has been revised in FY 2025 from ₹500 to ₹1000 and on UPI 123PAY from ₹5,000 to ₹10,000 to encourage their wider adoption. Further, with a view to promote digital payments among individuals without bank accounts, UPI Circle has been introduced which allows a secondary user to make UPI transactions up to a limit from the primary user’s bank account in a secure manner. Besides, in an effort to enhance ease of access to digital infrastructure for persons with disabilities, payment system participants (PSPs) have been advised to review their payment systems and devices and carry out necessary modifications so that all such systems and devices can be easily accessed and used by persons with disabilities.

    Financial Literacy

    13. Meaningful financial inclusion also requires access and awareness in right proportions for ensuring responsible and equitable service delivery of financial services. Therefore, financial literacy and financial inclusion need to be considered as two sides of the same coin – promoting financial inclusion without adequate financial literacy would lead to underutilization of financial services and increased chances of errors and frauds. Conversely, educating the consumers without facilitating their access to the formal financial system would result into unmet demand for financial services. The efforts towards augmenting financing literacy have been institutionalised by setting up of the National Centre of Financial Education (NCFE) jointly by the financial sector regulators. RBI as a regulator has been at the forefront of financial literacy with the launch of annual Financial Literacy Week campaigns targeted at specified sections of the population. Financial awareness empowers borrowers to assess and understand financial products, thereby supporting informed decision-making. To facilitate informed decision making by the customers and enhance transparency by the lenders, the RBI has mandated that all REs provide a standardised disclosure of key terms and conditions in the form of Key Fact Statement (KFS) to all retail and MSME borrowers.

    Challenges

    14. Even as all the stakeholders in the financial system, including the regulator and the REs, play their part in advancing financial inclusion, certain issues that act as impediments to the efforts made in this regard have come to the fore and will need to be addressed. Let me briefly highlight a few such issues.

    Grievance Redressal

    15. Having an effective grievance redressal mechanism is non-negotiable for financial sector enterprises as non-resolution of consumer’s concerns not only leads to erosion of customer base but also results in loss of trust in the broader financial system and deters new consumers from entering the system. It is concerning that the complaints received at the Offices of RBI Ombudsmen as well as Centralized Receipt and Processing Centres (CRPCs) marked a sharp 33% year-on-year increase8 in FY2023-24. This raises questions on the products, practices, and handling of grievances at the level of the RE. REs, therefore, need to analyse the gaps and strengthen their processes to reverse the trend of increasing grievances.

    Mis-selling

    16. While financial inclusion entails a bouquet of financial services, pushing the same indiscriminately to unaware consumers may be detrimental to their well-being and undermine its stated intent. There are reports of mis-selling of financial services such as insurance products. The concern is that such mis-selling without regard to suitability and appropriateness would beget distrust in schemes aimed at providing a safety net to the low-income households by creating artificial boundaries. We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs.

    Cyber Safety and Digital Literacy

    17. As digitalization becomes more pervasive, the need for increasing digital literacy becomes even more pronounced. Empowering individuals to use digital devices and platforms with confidence and security is essential to ensuring inclusive participation in the digital economy. Often, apprehensions related to uncertainty, the possibility of errors, or financial loss create psychological barriers that hinder the adoption of technological solutions such as ATMs, mobile banking, and other digital services. The rising incidents of frauds through novel techniques makes it imperative that REs collaborate with other stakeholders like SROs, NGOs, etc. to generate awareness and promote safe digital practices among customers.

    18. At the same time, it is critical for REs to implement effective measures to combat digital frauds. One such area warranting attention is the use of One-Time Passwords (OTPs) as a means of Additional Factor Authentication (AFA). While this method has served well in the past, the evolving threat landscape in the arena of cybersecurity now calls for the development and adoption of more secure and resilient alternatives. Further, REs must diligently adopt the designated 160 number series9 for all service and transactional voice calls as prescribed by the Government. This initiative is critical to maintaining the integrity of communication channels and protecting customers from phishing and other forms of cyber-attacks.

    19. RBI has been running extensive multimedia awareness campaigns using audio-visual messages under the name ‘RBI Kehta Hai’ and text messages as ‘RBI Says’. Further, RBI has introduced the bank.in and fin.in domains exclusively for banks and non-bank entities to curb cyber security threats and malicious activities. Also, to aid the customers in verifying Digital Lending Apps’ (DLAs) association with RE, the RBI has created a public repository of DLAs deployed by the REs which will soon be available on RBI’s website.

    Developments in Microfinance

    20. Let me now focus on a few developments in Microfinance sector. Microfinance has placed itself as a promising avenue for providing formal financial services to the excluded sections of population. While microfinance has played an important role in financial inclusion, there are some issues which need attention. The sector continues to suffer from vicious cycle of over-indebtedness, high interest rates and harsh recovery practices. While some moderation in interest rates charged on microfinance loans has been observed in recent quarters, pockets of high interest rates and elevated margins continue to persist. Even lenders having access to low-cost funds have been found to be charging margins significantly higher than the rest of the industry and which in several instances appear to be excessive. The lenders should look beyond the conventional “high-yielding business” tag for the sector and approach it with an empathic and developmental perspective, recognising the socio-economic role that microfinance plays in empowering vulnerable communities.

    21. The frequency of disruptions in the microfinance sector has increased of late. Incidents of high borrower indebtedness, coupled with coercive recovery practices, sometimes lead to tragic consequences. It is in the collective interest of all stakeholders that such disruptions are pre-emptively addressed and avoided. In this regard, REs must also enhance their credit appraisal frameworks to prevent over-leveraging of borrowers. Additionally, they must eschew any coercive or unethical recovery practices, ensuring that financial services are delivered in a manner that is both responsible and sustainable. While the business model may be sound, the organisational structure and the incentive schemes framed to deliver the services may be flawed resulting in perverse outcomes for customers. This calls for an introspection around the models.

    Way Forward

    22. Even as we reflect on some of these challenges, we need to be clear about the path that we must take to ensure greater financial inclusion. As we look to the future, the way forward for financial inclusion lies in the strategic deployment of emerging technologies to build a more accessible, equitable, and efficient financial ecosystem. Innovations such as AI, blockchain, and digital public infrastructure are revolutionizing how financial services are delivered, especially to the underserved and remote communities. One such innovation in this space is the Account Aggregator (AA) framework. By empowering individuals to securely share their financial data with consent, the AA system enables more accurate credit assessments and potentially facilitates the delivery of customized financial products. Building on this foundation, the Unified Lending Interface (ULI) standardizes and streamlines the digital lending process by providing lenders with a host of alternate data including digitised state land records, milk pouring data and satellite data. It’s RBI’s belief that the JAM trinity will be followed by the new trinity of JAM-UPI-ULI in revolutionizing digital infrastructure and credit delivery and provide necessary fillip to financial inclusion efforts, pushing it to new highs.

    23. The development and implementation of India Stack has revolutionised the banking landscape in India and has been instrumental in furthering financial inclusion by reducing infrastructural, geographical, and linguistic frictions and plugging leakages. REs have been encouraged to innovate in product design, offering solutions that reflect the unique needs of their customer base; for instance, offering flexibility in repayment schedules, variable savings contributions, and locally tailored financial products shaped by seasonal income cycles, occupational patterns, or behavioural tendencies. Such customisation can go a long way in further improving access, usage, and quality of financial services. REs can bring some of these innovations under the theme neutral ‘On Tap’ Regulatory Sandbox framework, which provides a structured environment for testing state-of-the-art solutions in the interest of consumers and financial stability. As connectivity can pose challenges in remote and rural areas, REs can explore the development of lightweight mobile applications and web interfaces optimised for low-bandwidth environments. These measures will go a long way in extending the reach of digital financial services to the last mile, thereby ensuring inclusive and accessible banking for all.

    24. A lot has been achieved in the journey for achieving financial inclusion thus far, yet a lot more needs to be done. It cannot be merely achieved by standalone policy initiatives but by implementation of such initiatives both in letter and spirit by all stakeholders in the financial ecosystem. Also, those who remain outside the ambit of formal finance today represent untapped potential that can meaningfully contribute to economic growth in the future. The dividends of such inclusion will not only accrue to the institutions involved but will also strengthen the foundation of a more resilient, equitable, and prosperous society. Financial inclusion should not be viewed as an act of philanthropy, but rather as a strategic investment in the nation’s economic and social development. With the right mix of well thought of and carefully crafted regulation, technological advancement, and institutional empathy, our collective efforts can dismantle longstanding barriers and usher in a new era of inclusive and sustainable financial growth – one that leaves no citizen behind and resonates far beyond set boundaries.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Economics: Large Exposures Framework – Amendment in the list of exempted exposures

    Source: Reserve Bank of India

    RBI/2025-26/48
    DOR.CRE.REC.27/21.01.003/2025-26

    June 9, 2025

    All Scheduled Commercial Banks (Excluding Regional Rural Banks)

    Madam / Dear Sir,

    Large Exposures Framework – Amendment in the list of exempted exposures

    Please refer to paragraph 3.1 of the Annex to the circular DBR.No.BP.BC.43/21.01.003/2018-19 dated June 03, 2019 on ‘Large Exposures Framework’ (LEF) in terms of which “deposits maintained with NABARD on account of shortfall in achievement of targets for priority sector lending” are excluded from being considered for exposure limits under LEF.

    2. In this connection, it is advised that in addition to NABARD, the above exemption shall also be applicable to contribution made by the scheduled commercial banks to funds with NHB, SIDBI, MUDRA Ltd., or any other entity specified by RBI, on account of shortfall in achievement of targets for priority sector lending.

    3. The above instruction is applicable with immediate effect.

    Yours faithfully,

    (Vaibhav Chaturvedi)
    Chief General Manager

    MIL OSI Economics –

  • MIL-OSI Economics: Non-achievement of PSL targets – Prudential treatment of contribution towards eligible funds with NABARD, NHB, SIDBI and MUDRA Ltd.

    Source: Reserve Bank of India

    RBI/2025-26/49
    DoR.CRE.REC.28/07.10.002/2025-26

    June 9, 2025

    Primary (Urban) Co-operative Banks other than Salary Earners’ Banks

    Madam / Dear Sir,

    Non-achievement of PSL targets – Prudential treatment of contribution towards eligible funds with NABARD, NHB, SIDBI and MUDRA Ltd.

    A. Exemption from exposure norms

    In terms of para 2.1 of circular DOR (PCB).BPD.Cir No.10/13.05.000/2019-20 dated March 13, 2020 on ‘Limits on exposure to single and group borrowers/parties and large exposures and Revision in the target for priority sector lending – UCBs’, the prudential exposure limits for UCBs for a single borrower/party and a group of connected borrowers/parties are specified as 15 per cent and 25 per cent, respectively, of their tier-I capital.

    2. On a review, it has been decided that the contribution1 by UCBs towards eligible funds with NABARD, NHB, SIDBI, MUDRA Ltd., or any other entity specified by RBI, on account of shortfall in PSL targets shall not be included while computing the aggregate exposure of a UCB to such counterparties for the purpose of deciding the above prudential exposure limits.

    B. Risk weight

    3. It is further clarified that contribution by UCBs towards above eligible funds on account of shortfall in PSL targets, shall fall under the category of ‘all other assets’, attracting a risk weight of 100 per cent2 for capital adequacy purposes, in terms of Annexure 1 of the RBI circular UBD.No.POT.PCB.Cir.No.45/09.116.00/2000-01 dated April 25, 2001 on ‘Application of Capital Adequacy Norms to Urban (Primary) Co-operative Banks’.

    C. Applicability

    4. The above instructions are applicable with immediate effect.

    Yours faithfully,

    (Vaibhav Chaturvedi)
    Chief General Manager

    MIL OSI Economics –

  • MIL-OSI Economics: Basel III Capital Regulations – External Credit Assessment Institution (ECAI)

    Source: Reserve Bank of India

    RBI/2025-26/50
    DOR.STR.REC.29/21.06.008/2025-26

    June 09, 2025

    All Scheduled Commercial Banks
    (including Small Finance Banks)
    (excluding Local Area Banks, Payments Banks and Regional Rural Banks)

    Dear Sir/ Madam,

    Basel III Capital Regulations – External Credit Assessment Institution (ECAI)

    Please refer to paragraph 6.1.2 of the Master Circular No. DOR.CAP.REC.2/21.06.201/2025-26 dated April 1, 2025 on Basel III Capital Regulations, wherein the list of domestic credit rating agencies accredited for the purpose of risk weighting banks’ claims for capital adequacy purposes has been prescribed.

    2. A reference is also invited to the circular DOR.STR.REC.26/21.06.008/2024-25 dated July 10, 2024 in terms of which, banks were permitted to use the ratings of Brickwork Ratings India Private Limited (BRIPL) for risk weighting their claims for capital adequacy purposes subject to the restrictions/limits specified therein.

    3. On a review, it has been decided to remove the restrictions/ limits placed on the use of ratings of BRIPL by the banks.

    4. All other provisions regarding external credit ratings stipulated in the Master Circular ibid remain unchanged.

    Yours faithfully,

    (Vaibhav Chaturvedi)
    Chief General Manager

    MIL OSI Economics –

  • MIL-OSI Economics: ADB, CGIAR, and Gates Foundation Partner to Transform Rice Sector, Uplift Millions of Smallholder Farmers in Asia and the Pacific

    Source: Asia Development Bank

    ADB and CGIAR, with support from the Gates Foundation, have launched a new initiative to boost investments in sustainable and low-carbon rice production with the aim of improving the lives of millions of vulnerable smallholder farmers across Asia and the Pacific.

    MIL OSI Economics –

  • MIL-OSI Economics: Development Asia: Moa Housing: A Small-Scale Approach to Transform Seoul’s Aging Neighborhoods

    Source: Asia Development Bank

    Introduction

    The city of Seoul’s Moa Housing initiative is an innovative urban renewal strategy launched in 2022 to revitalize aging, low-rise residential areas that are difficult to redevelop on a larger scale. These neighborhoods—developed in the 1960s and 1980s—consist of compact, multi-family housing districts with narrow streets, insufficient parking, outdated infrastructure, and limited green spaces.

    To overcome these challenges, the initiative introduces a new model that consolidates small plots of land for collective development, enabling residents to build high-quality housing while securing underground parking, green spaces, and other infrastructure. Once consolidated and infrastructure is established, these areas are designated as “Moa Towns.”

    Unlike conventional redevelopment—which can take 10 years and require two-thirds of buildings to be in poor condition—Moa Housing operates on a faster four to five-year timeline. It streamlines the process and offers favorable conditions, including regulatory exemptions and incentives. The program is built on resident participation, supported by public–private partnerships, and aims to provide 30,000 new homes across 100 Moa Towns in 25 years, with the first town scheduled for completion in 2028.

    What is the Moa Housing initiative?

    Moa Housing is a maintenance project in which homeowners collectively own and manage individual parcels of land and develop them together into high-quality housing on a block-by-block basis. It is a small-scale urban renewal model focused on low-rise residential areas that are hard to redevelop under traditional large-scale projects.

    How does the Moa Housing model work?

    The model gathers low-rise areas (within 100,000 square meters) with a mix of old and new buildings, establishes a regional unit, and creates a management plan. Once underground parking and green spaces are secured, the area is designated as a “Moa Town” and implemented through a streamlined process with better incentives than conventional redevelopment.

    What problems does Moa Housing address?

    Moa Housing targets long-standing issues common in aging, low-rise neighborhoods that hinder livability and safety. These include:

    • High-density housing areas with illegal parking and resident conflict
    • Narrow streets that obstruct fire trucks and emergency response
    • Topographical challenges that make access during emergencies and evacuation difficult
    • Inadequate infrastructure such as parking lots, parks, and green space
    • Fragmented development when using building-by-building improvements

    How does Moa Housing differ from conventional redevelopment?

    Moa Housing offers a more flexible and expedited alternative to traditional redevelopment models. Key differences include the following:

    • Traditional redevelopment requires at least two-thirds of buildings be in poor condition—Moa Housing does not.
    • Projects can proceed without major building deterioration in hard-to-develop locations.
    • Moa Housing projects are exempt from architectural and urban management standards, such as height and floor area ratio, as long as site conditions are met.
    • Timeline is significantly faster: 4–5 years versus 10 years or more for conventional projects.

    How are Moa Towns selected?

    There are two methods:

    • A contest conducted by borough offices
    • Consultation based on residents’ proposals

    After meeting eligibility conditions, a management plan must be submitted to the autonomous district. The required conditions are:

    • At least two cooperatives must be established to implement small-scale housing maintenance.
    • Consent from at least two-thirds of the land area targeted by the project must be obtained.

    As of June 2025, 111 neighborhoods have been selected as Moa Town project sites. One site is currently under construction and expected to be completed around 2028.

    What happens once an area is designated as a Moa Town?

    Each autonomous district prepares a Moa Town Management Plan, which is shared with residents and reviewed by a committee. After approval, the plan is granted legal status as a “small housing maintenance management area.” The project then proceeds.

    What financial support does the city provide?

    The Seoul Metropolitan Government pledges to provide 70% of the establishment cost (up to 380 million won per site) for management plan formulation. The remaining 30% is covered by the district.

    What kinds of projects are included under Moa Housing?

    Moa Housing includes various small-scale maintenance types under the Small-scale Housing Maintenance Act:

    • Autonomous housing maintenance
    • Street housing maintenance
    • Small-scale reconstruction
    • Small-scale redevelopment

    Projects are implemented through joint development using architectural agreements.

    What types of improvements are made in Moa Towns?

    Moa Towns are designed to enhance livability through shared infrastructure and better land use. These improvements include:

    • Underground parking lots and increased green spaces
    • Community and shared facilities along low-rise streets
    • Upgraded living infrastructure, including community amenities
    • More integrated, accessible environments for residents

    What makes the business model feasible and attractive?

    The Moa Housing model streamlines redevelopment and offers strong financial and regulatory support, including:

    • Shorter business cycle of 4–5 years compared to 10 years
    • Exemptions from zoning and urban design rules
    • Upzoning and simplified commercial use changes
    • Government subsidies improve project profitability
    • Public architect support for design and planning

    Were there any early difficulties with the project?

    Residents initially had limited understanding of the project’s scope, and promotional efforts were insufficient. Momentum improved after the SH Corporation launched a pilot Moa Town site, focusing on areas with constraints (e.g., height restrictions) and helping raise awareness.

    What are some example sites of Moa Housing in action?

    • An old low-rise residential area near Jungnang Station with a high density of multi-family dwellings.
    • Junghwa 1-dong, Jungnang-gu: Existing dilapidated housing is being transformed into a complex with new infrastructure and essential amenities.

    What are the long-term goals and outcomes of the project?

    Moa Housing aims to transform Seoul’s aging neighborhoods into vibrant, sustainable communities. Its key goals include:

    • Deliver 30,000 homes in 25 years
    • Designate 100 Moa Towns across Seoul
    • Rejuvenate aging districts while addressing housing shortages
    • Enhance quality of life and revitalize local economies
    • Promote energy-efficient buildings, green spaces, and job creation

    How does Moa Housing promote inclusion and diversity in housing?

    By providing a range of housing types, the initiative accommodates varied income levels and lifestyles, promoting a more inclusive housing market.

    The Moa Town project is predicated on the principle of community participation, with residents playing an active role in the planning and execution of the project. Residents are directly involved in the planning and implementation of the project, creating a customized residential environment that reflects the actual needs and wants of the residents. The development of the local economy is twofold: (i) it contributes to improving living spaces, and (ii) it contributes to the economic development of the local area.

    What are the economic development benefits?

    Moa Housing injects public funds into key infrastructure like public parking and parks, which improves local conditions and boosts business profitability. The simplified regulatory framework enhances efficiency for developers.

    What partnerships support Moa Housing?

    Moa Housing is driven by collaboration between the public and private sectors to ensure efficient project delivery. This joint approach ensures cost-effective execution.

    • Public sector: responsible for licensing, financing, and infrastructure
    • Private sector: responsible for construction and project implementation

    Figure 1: Overview of available support for joint project

    Source: Seoul Metropolitan Government.

    What are the risks or drawbacks of the model?

    While Moa Housing offers many benefits, it also faces some limitations that can impact implementation:

    • Higher construction costs than typical redevelopment
    • Requires resident consent, which may be hard to obtain
    • Less popular than large-scale complexes
    • As a new initiative, outcomes are not yet fully determined

    When selectively applied, Moa Housing facilitates more efficient urban maintenance.

    What lessons can cities learn from Moa Housing?

    The initiative provides valuable insights into small-scale, community-centered urban renewal:

    • Supports structural change in low-rise housing at appropriate densities
    • Addresses issues such as isolated projects, inadequate infrastructure, and disconnected living environments
    • Demonstrates how community engagement, sustainable design, and localized planning can deliver high-impact results
    • Offers a scalable, replicable model for other urban centers facing similar renewal challenges

    MIL OSI Economics –

  • MIL-OSI Economics: BYD’s growth hinges on EV demand stability and financial transparency, says GlobalData

    Source: GlobalData

    BYD’s growth hinges on EV demand stability and financial transparency, says GlobalData

    Posted in Business Fundamentals

    Following the news that China-based electric vehicle (EV) giant BYD Co Ltd is under scrutiny as its rapidly rising accounts payables raise concerns over a potential hidden debt burden;

    Murthy Grandhi, Company Profiles Analyst at GlobalData, a leading data and analytics company, offers his view:

    “BYD posted record 2024 results with revenues of $108.1 billion (CNY777.1 billion) (+29% year-on-year (YoY)) and net profit of $5.6 billion (CNY40.2 billion) (+34% YoY). However, experts warn that the company’s growing reliance on supply chain financing could expose it to serious financial risks if market conditions deteriorate.

    “Despite holding $17.8 billion (CNY102.5 billion) in cash and reducing total debt to $5.8 billion (CNY194.2 billion), BYD’s accounts payables rose 24.3% YoY to $33.6 billion (CNY241.6 billion) in 2024, reaching $34.9 billion (CNY250.8 billion) by March 2025. Over five years, this figure has grown at a CAGR of 41.2%, outpacing both revenue and profit growth.

    “BYD’s financing method involves issuing commercial paper to suppliers, who then sell it to banks. These are treated as trade finance, not corporate debt. However, if credit sentiment shifts, this paper could trade below par. Banks may demand cash, suppliers may go unpaid, and production lines could stall—like Evergrande’s liquidity crisis.

    “The broader risk is systemic. BYD anchors a vast ecosystem of parts suppliers, particularly in Guangdong and Hunan provinces, employing over 900,000 people. A disruption in payments could trigger a liquidity shock across the supply chain.

    “GlobalData emphasizes that this model is only vulnerable under significant market stress. If EV demand drops or credit tightens, BYD may need to accelerate supplier payments or seek external funding—both of which could strain its liquidity. BYD’s capacity to sustain growth while ensuring financial transparency will be vital to preserving investor confidence amid its increasingly leveraged expansion.”

    MIL OSI Economics –

  • MIL-OSI Economics: iPadOS 26 introduces powerful new features that push iPad even further

    Source: Apple

    Headline: iPadOS 26 introduces powerful new features that push iPad even further

    June 9, 2025

    PRESS RELEASE

    iPadOS 26 introduces powerful new features that push the capabilities and versatility of iPad even further

    iPadOS 26 brings a new design; an entirely new powerful and intuitive windowing system; new features powered by Apple Intelligence; major enhancements to working with files, audio, and video; and more

    CUPERTINO, CALIFORNIA Apple today previewed iPadOS 26, the biggest iPadOS release ever, taking a huge leap forward and pushing the unique capabilities and versatility of iPad even further. A beautiful design brings a new look to iPad, making the experience even more expressive and delightful. While maintaining the simplicity of iPad, iPadOS 26 introduces an entirely new powerful and intuitive windowing system with new features that help users control, organize, and switch between apps. Apple Intelligence becomes even more capable and integrated across iPadOS 26, with new features that help users communicate, express themselves, and get things done, including Live Translation, new ways to create with Genmoji and Image Playground,1 and intelligent actions with Shortcuts. The supercharged Files app offers new ways to organize files and customize folders. And with Folders in the dock, users can conveniently access downloads, documents, and more from anywhere. The Preview app comes to iPad, giving users a dedicated app to view and edit PDFs, with powerful features like Apple Pencil Markup and AutoFill built in. And with Background Tasks, audio input selection, and Local capture, iPadOS 26 unlocks new capabilities for creative pros working with audio and video.

    “iPadOS 26 is our biggest iPadOS release ever, with powerful features that take the experience to the next level and transform what users can do on iPad,” said Craig Federighi, Apple’s senior vice president of Software Engineering. “With a beautiful new design, an entirely new powerful and intuitive windowing system, even more features powered by Apple Intelligence, huge improvements to working with files, and new capabilities for creatives to power their workflows, iPadOS 26 makes our most versatile device even more capable.”

    A Beautiful New Design

    The beautiful new design brings more expressive and delightful experiences to iPad users, while maintaining the familiarity of iPadOS. It’s crafted with Liquid Glass — a translucent new material that reflects and refracts its surroundings, while reacting to user input and dynamically transforming to bring greater focus to the content they care about most. It enables a new level of vitality across experiences like the Lock Screen and Control Center, and gives users new ways to personalize their Home Screen with updated app icons that come to life in light or dark appearances, colorful new light and dark tints, as well as an elegant new clear look. And updated controls and navigation extend to apps including Mail, Safari, Apple TV, Apple Music, and more.

    An Entirely New Powerful and Intuitive Windowing System

    iPadOS 26 introduces powerful new features that help users work with, control, organize, and switch between app windows — all while maintaining the immediacy and simplicity that iPad users expect. The new windowing system lets users fluidly resize app windows, place them exactly where they want, and open even more windows at once.

    Familiar window controls allow users to seamlessly close, minimize, resize, or tile their windows. Window tiling is designed for the unique capabilities of iPad, and enables users to arrange their windows with a simple flick. If a user previously resized an app, it opens back in the exact same size and position when they open it again. With Exposé, users can quickly see all their open windows spread out, helping them easily switch to the one they need. The new windowing system works great with Stage Manager for those who want to group their windows into distinct stages, and with an external display for those who want even more space to work across their apps.2

    With a new menu bar, users can access the commands available in an app with a simple swipe down from the top of the display, or by moving their cursor to the top. Users can quickly find a specific feature or related tips in an app by using search in the menu bar. Additionally, developers can now customize the menu bar in their own apps.

    New Features Powered by Apple Intelligence

    Apple Intelligence, the personal intelligence system that delivers helpful and relevant intelligence while taking an extraordinary step forward for privacy in AI, becomes even more capable and even more integrated across iPadOS 26. Live Translation in Phone, FaceTime, and Messages enables iPad users to communicate seamlessly across languages. In Messages, incoming texts — including group messages — are automatically translated into the user’s preferred language.3 On FaceTime, a user can follow along with translated live captions while still hearing the speaker’s voice. And when on a phone call, the translation is spoken aloud throughout the conversation.4

    iPadOS 26 brings users new ways to create Genmoji, giving them the ability to start with existing emoji and descriptions, modify personal attributes like hair length or accessories, and select expressions. Users will also have more control of personal attributes and expressions in Image Playground, and can tap into brand-new styles with ChatGPT, like an oil painting style for a friend’s Contact Poster. For moments when users have a specific idea in mind, they can tap Any Style and describe exactly what they want. And Image Playground can now send a user’s description or photo to ChatGPT and create a unique image.

    Shortcuts features new intelligent actions that allow users to create shortcuts that are more powerful than ever, including summarizing text with Writing Tools and creating images with Image Playground. Users can also tap directly into Apple Intelligence models to provide responses that feed into the rest of their shortcuts. For example, a student can build a shortcut that uses Apple Intelligence models to compare an audio transcription of a class lecture to the notes they took, and add any key points they may have missed.

    Powerful New Ways to Work with Files

    iPadOS 26 introduces powerful new ways to manage, access, and edit files. An enhanced Files app with an updated List view allows users to see more of their document details in resizable columns and collapsible folders. To make folders easier to identify at a glance, Files also offers folder customization options that include custom colors, icons, and emoji that sync across devices. For quicker access, users can now drag any folder from the Files app right into the Dock. Additionally, users can set a default app for opening specific files or file types.

    The Preview App Comes to iPad

    Preview comes to iPad, giving users a dedicated app for creating a quick sketch, as well as viewing, editing, and marking up PDFs and images with Apple Pencil or by touch. Users can access all of their PDFs and images in the Files app right from Preview, create an empty page, use Apple Pencil to draw and write on it, and use AutoFill to quickly fill out PDF forms.

    New Ways to Work with Apps

    Taking advantage of the incredible power of Apple silicon, iPadOS 26 unlocks the ability to perform computationally intensive Background Tasks. When users start a long-running process in an app, Background Tasks will show up with Live Activities, giving users complete control and a clear sense of what is running. And developers can use an updated Background Tasks API that allows users to perform long-running tasks from their apps, too.

    iPadOS 26 also brings new audio features that offer more flexible input and streamlined recording. Users now have better control over their audio input, with the ability to choose different microphones for each app, as well as individual websites. Recorded audio will be made even better with the availability of Voice Isolation, which blocks ambient noise, and allows clear and crisp recordings. And with AirPods 4, AirPods 4 with Active Noise Cancellation (ANC), and AirPods Pro 2, studio-quality audio recording allows users to record their content with great sound quality and enjoy clear calls.

    With Local capture, users can produce high-quality recordings right from iPad with any video conferencing app, and easily share audio and video files once the call is over. Echo cancellation of other participants’ audio keeps the user’s voice front and center, allowing for a clear recording of their side of the call.

    New Apps, Plus More Ways to Communicate

    With iPadOS 26, Journal comes to iPad, making it easy for users to capture and write about the details of everyday moments or special events. Using Apple Pencil or touch, users can incorporate drawings and handwriting, along with photos, videos, audio recordings, places, their state of mind, and more. Users can keep multiple journals for various aspects of life, and now have access to a beautiful map view that organizes entries by location.

    The all-new Apple Games app brings users a new home for gaming, and iPadOS 26 introduces Game Overlay, which allows users to quickly see new events and updates, adjust settings, call or invite a friend mid-game, and more.

    The Messages app brings conversation Backgrounds, which lets a user personalize their chats with stunning designs and create unique backgrounds that fit their conversation with Image Playground. Messages also brings Polls and a redesigned details view that helps users easily navigate what has been shared in a conversation, and supercharges group chats with typing indicators, as well as the ability to request and receive Apple Cash.5 Additionally, the Phone app comes to iPad, and includes updates like Hold Assist6 and Call Screening.7

    Additional iPadOS 26 updates:

    • Available in the tool palette, the new reed pen uses stroke-angle presets to enable a traditional calligraphy experience with Apple Pencil or touch in apps like Notes, Preview, Freeform, and Journal; when using Markup; and in third-party apps using the PencilKit API.
    • Calculator introduces new 3D graphing capabilities in Math Notes, allowing users to write an equation with three variables and create a graph in three dimensions.
    • Notes adds the ability to import and export a note into a markdown file, along with support for capturing conversations in the Phone app as audio recordings with transcriptions.
    • Accessibility features include Accessibility Reader, a new systemwide reading mode designed to make text easier to read for users who are blind, have low vision, or have other disabilities affecting reading; an all-new Braille Access experience that offers a user-friendly interface for users with a connected braille display; Share Accessibility Settings to temporarily use accessibility settings on another person’s device; and more.

    Availability

    All of these features are available for testing starting today through the Apple Developer Program at developer.apple.com, and a public beta will be available through the Apple Beta Software Program next month at beta.apple.com. New software features will be available this fall as a free software update for iPad Pro (M4), iPad Pro 12.9-inch (3rd generation and later), iPad Pro 11-inch (1st generation and later), iPad Air (M2 and later), iPad Air (3rd generation and later), iPad (A16), iPad (8th generation and later), iPad mini (A17 Pro), and iPad mini (5th generation and later). The Apple Intelligence features detailed require supported devices, which include all iPhone 16 models, iPhone 15 Pro, iPhone 15 Pro Max, iPad mini (A17 Pro), and iPad and Mac models with M1 and later that have Apple Intelligence enabled and Siri and device language set to the same supported language: English, French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, or Chinese (simplified). More languages will be coming by the end of this year: Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (traditional), and Vietnamese. For more information, visit apple.com/os/ipados and apple.com/apple-intelligence. Features are subject to change. Some features may not be available in all languages or regions, and availability may vary due to local laws and regulations. For more information about availability, visit apple.com.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Genmoji and Image Playground are available in English, French, German, Italian, Portuguese (Brazil), Spanish, and Japanese.
    2. Full external display support is available with iPad Air (5th generation), iPad Air (M2 and later), iPad Pro 11-inch (3rd generation and later), iPad Pro 12.9-inch (5th generation and later), and iPad Pro (M4).
    3. Live Translation in Messages supports English (U.S., UK), French (France), German, Italian, Japanese, Korean, Portuguese (Brazil), Spanish (Spain), and Chinese (simplified).
    4. Live Translation in Phone and FaceTime is available for one-on-one calls in English (U.S., UK), French (France), German, Portuguese (Brazil), and Spanish (Spain).
    5. Apple Cash services are provided by Green Dot Bank, Member FDIC. Apple Payments Services LLC, a subsidiary of Apple Inc., is a service provider of Green Dot Bank for Apple Cash accounts. Neither Apple Inc. nor Apple Payments Services LLC is a bank. Learn more about the terms and conditions. Only available in the U.S. on eligible devices.
    6. Hold Assist supports English (U.S., Australia, Canada, India, Singapore, UK), French (France), Spanish (U.S., Mexico, Spain), German (Germany), Portuguese (Brazil), Japanese (Japan), and Mandarin Chinese (mainland China).
    7. Call Screening supports Cantonese (China mainland, Hong Kong, Macao), English (U.S., Australia, Canada, India, Ireland, New Zealand, Puerto Rico, Singapore, South Africa, UK), French (Canada, France), German (Germany), Japanese (Japan), Korean (Korea), Mandarin Chinese (China mainland, Taiwan, Macao), Portuguese (Brazil), and Spanish (U.S., Mexico, Puerto Rico, Spain).

    Press Contacts

    Tara Courtney

    Apple

    tcourtney@apple.com

    Skylar Eisenhart

    Apple

    s_eisenhart@apple.com

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Economics –

  • MIL-OSI Economics: Apple elevates the iPhone experience with iOS 26

    Source: Apple

    Headline: Apple elevates the iPhone experience with iOS 26

    June 9, 2025

    PRESS RELEASE

    Apple elevates the iPhone experience with iOS 26

    The release delivers a stunning new design, powerful Apple Intelligence capabilities, new ways to stay connected in the Phone and Messages apps, and exciting updates to CarPlay, Apple Music, Maps, and Wallet

    CUPERTINO, CALIFORNIA Apple today previewed iOS 26, a major update that brings a beautiful new design, intelligent experiences, and improvements to the apps users rely on every day. The new design provides a more expressive and delightful experience across the system while maintaining the instant familiarity of iOS. Integrated throughout the system and built with privacy from the ground up, Apple Intelligence gets even more capable. Updates to the Phone and Messages apps help users stay connected while eliminating distractions like unwanted calls. iOS 26 also introduces new features in CarPlay, Apple Music, Maps, and Wallet, as well as Apple Games, a brand-new app that gives players a single destination for all their games.

    “iOS 26 shines with the gorgeous new design and meaningful improvements to the features users rely on every day, making iPhone even more helpful,” said Craig Federighi, Apple’s senior vice president of Software Engineering. “Experiences are more expressive and personal, from the Lock Screen and Home Screen, to new capabilities across Phone and Messages that help users focus on the connections that matter most. And with powerful new Apple Intelligence capabilities integrated across the system, users can get things done easier than ever.”

    A Beautiful New Look

    The new design makes apps and system experiences more expressive and delightful, while keeping iOS instantly familiar. It’s crafted with Liquid Glass — a new translucent material that reflects and refracts its surroundings, bringing greater focus to content, and delivering a new level of vitality across controls, navigation, app icons, widgets, and more. The new design extends to the Home Screen and Lock Screen, making them more personal and expressive than ever. Liquid Glass also brings new customization options to app icons and widgets, including a stunning clear look.

    On the Lock Screen, the time fluidly adapts to the available space in an image, and spatial scenes bring wallpapers to life with a 3D effect when users move iPhone. Updated design elements also deliver fresh experiences in apps. A simplified, streamlined Camera layout helps users keep their attention on the moment they’re capturing, and the Photos app is updated to feature separate tabs for Library and Collections views. In Safari, web pages flow from the top edge to the bottom of the screen, enabling users to see more of the page while maintaining access to frequently used actions like refresh and search. In Apple Music, News, and Podcasts, the tab bar is redesigned to float above users’ content, dynamically shrink when users are browsing to put content front and center, and then expand when they scroll back up.

    An updated set of APIs provides developers with access to Liquid Glass materials and components so they can make their apps appear just as dynamic and delightful.

    New Capabilities Powered by Apple Intelligence

    Apple Intelligence elevates the iPhone experience and helps users get things done easier than ever, while unlocking new ways to communicate and do more with what’s on their screen. Live Translation is integrated into Messages, FaceTime, and Phone to help users communicate across languages, translating text and audio on the fly.1 Live Translation is enabled by Apple-built models that run entirely on device, so users’ personal conversations stay personal.

    Building on Apple Intelligence, visual intelligence extends to a user’s iPhone screen so they can search and take action on anything they’re viewing across apps. Users can ask ChatGPT questions about what they’re looking at onscreen to learn more, as well as search Google, Etsy, or other supported apps to find similar images and products. Visual intelligence also recognizes when a user is looking at an event and suggests adding it to their calendar, repopulating key details like date, time, and location.2

    Genmoji and Image Playground provide users with even more ways to express themselves, including mixing their favorite emoji, Genmoji, and descriptions together to create something new.3

    Shortcuts are now more powerful and intelligent than ever. Users can tap into intelligent actions, a whole new set of shortcuts enabled by Apple Intelligence, and will see dedicated actions for features like Writing Tools and Image Playground.

    Apple Intelligence can now automatically identify and summarize order tracking details from emails sent from merchants and delivery carriers, giving users the ability to see their full order details and progress notifications all in one place — even for purchases not made with Apple Pay.

    Additionally, a new Foundation Models framework opens up access for any app to tap directly into the on-device foundation model at the core of Apple Intelligence, giving developers direct access to powerful intelligence that’s fast, built with privacy at its core, and available offline, using AI inference that is free of cost.

    Features for Staying Connected and Eliminating Interruptions

    Fundamental to the iPhone experience, the Phone app now offers a unified layout that combines Favorites, Recents, and Voicemails all in one place. Call Screening builds on Live Voicemail and helps eliminate interruptions by gathering information from the caller and giving users the details they need to decide if they want to pick up or ignore the call.4 And for the times when a user is stuck on hold, Hold Assist notifies the user when a live agent is available.5

    In Messages, users can now screen messages from unknown senders, giving them more control over who appears in their conversation list. Messages from unknown senders will appear in a dedicated folder where users can then mark the number as known, ask for more information, or delete. These messages will remain silenced until a user accepts them.

    iOS 26 also offers enhancements to conversations, including custom backgrounds and the ability to create polls. With Apple Intelligence, Messages can detect when a poll might come in handy and suggest one, and users can generate unique backgrounds that fit their conversation with Image Playground. Additionally, in group chats, users can now see typing indicators, and request, send, and receive Apple Cash.6

    Enhancements to CarPlay

    CarPlay — the smarter, safer way to use iPhone while driving — is used over 600 million times per day, and now with iOS 26, it receives updates that make it even more beautiful and easy to use. The stunning design includes a new compact view for incoming calls, allowing users to see who’s calling without missing key information like upcoming directions. iOS 26 also brings Tapbacks and pinned conversations to Messages in CarPlay, and with widgets and Live Activities, users can stay in the loop without losing focus on the road. These updates also come to CarPlay Ultra, which brings the best of iPhone and the best of the car together for a deeply integrated, unified experience across every screen.

    Updates to Apple Music, Maps, and Wallet

    In Apple Music, Lyrics Translation helps users understand the words to their favorite songs, while Lyrics Pronunciation allows everyone to sing along, regardless of language. AutoMix uses intelligence to transition from one song to the next like a DJ, using time stretching and beat matching to seamlessly move from one song to the next.

    In Apple Maps, Visited Places help users remember the places they’ve been. Users can choose to have iPhone detect when they’re at a place like a restaurant or shop, and view all of their Visited Places in Maps. Visited Places are protected with end-to-end encryption and cannot be accessed by Apple. Additionally, iPhone can now use on-device intelligence to better understand a user’s daily route, presenting them with their preferred route when they’re headed home or to the office, along with notifying them of delays and offering alternate routes.

    Updates in Apple Wallet help make everyday interactions with the physical world easier than ever. Users can choose to pay with installments or rewards when they make in-store purchases with Apple Pay using iPhone. Refreshed boarding passes in Wallet offer the ability to see and share Live Activities for real-time updates on a flight. They also provide convenient access to a traveler’s most relevant information, such as Maps to navigate airports, Find My to track important items and report missing bags, and more.

    Additional features in iOS 26:

    • Apple Games is a new app that gives players an all-in-one destination for their games. It helps players jump back into titles they love, find their next favorite, and have even more fun with friends. They’ll find out what’s happening across all their games, including major events and updates, so they never miss a moment. The Games app is also the best way to experience Apple Arcade, Apple’s game subscription service with more than 200 award-winning and highly rated games for the whole family.
    • AirPods are more versatile than ever with new features for AirPods 4, AirPods 4 with Active Noise Cancellation (ANC), and AirPods Pro 2. Building on the benefits of Voice Isolation, studio-quality audio recording allows iPhone, iPad, and Mac users to record their content with great sound quality and enjoy even clearer calls. With camera remote, users can press and hold the AirPods stem to take a photo or start and stop a video recording on iPhone or iPad.
    • Parents can now create or move kids into Child Accounts even more easily, taking advantage of a wide set of parental controls designed to keep children safe. Enhancements across Communication Limits, Communication Safety, and the App Store include parental approvals for contact requests from kids, blurring out sensitive content in FaceTime calls and photos in Shared Albums, and enabling parents to grant an exception for their child to download an app with an age rating that exceeds the app content restriction they set.
    • Browsing in Safari gets even more private with advanced fingerprinting protection extending to all browsing by default.
    • Powerful accessibility features include Accessibility Reader, which provides a customized systemwide reading experience, and Braille Access, an all-new interface for iPhone devices with connected braille displays. Updates to Live Listen, Background Sounds, Personal Voice, and more bring a new level of accessibility across the Apple ecosystem.

    Availability

    All of these features are available for testing starting today through the Apple Developer Program at developer.apple.com, and a public beta will be available through the Apple Beta Software Program next month at beta.apple.com. New software features will be available this fall as a free software update for iPhone 11 and later. The Apple Intelligence features detailed require supported devices, which include all iPhone 16 models, iPhone 15 Pro, iPhone 15 Pro Max, iPad mini (A17 Pro), and iPad and Mac models with M1 and later that have Apple Intelligence enabled and Siri and device language set to the same supported language: English, French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, or Chinese (simplified). More languages will be coming by the end of this year: Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (traditional), and Vietnamese. For more information, visit apple.com/apple-intelligence. Features are subject to change. Some features may not be available in all languages or regions, and availability may vary due to local laws and regulations. For more information about availability, visit apple.com.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Live Translation in Messages supports English (U.S., UK), French (France), German, Italian, Japanese, Korean, Portuguese (Brazil), Spanish (Spain), and Chinese (simplified). Live Translation in Phone and FaceTime is available for one-on-one calls in English (U.S., UK), French (France), German, Portuguese (Brazil), and Spanish (Spain).
    2. The ability to add an event to a calendar with visual intelligence is available in English on all iPhone 16 models, iPhone 15 Pro, and iPhone 15 Pro Max.
    3. Genmoji and Image Playground are available in English, French, German, Italian, Portuguese (Brazil), Spanish, and Japanese.
    4. Call Screening supports Cantonese (China mainland, Hong Kong, Macao), English (U.S., Australia, Canada, India, Ireland, New Zealand, Puerto Rico, Singapore, South Africa, UK), French (Canada, France), German (Germany), Japanese (Japan), Korean (Korea), Mandarin Chinese (China mainland, Taiwan, Macao), Portuguese (Brazil), and Spanish (U.S., Mexico, Puerto Rico, Spain).
    5. Hold Assist supports English (U.S., Australia, Canada, India, Singapore, UK), French (France), Spanish (U.S., Mexico, Spain), German (Germany), Portuguese (Brazil), Japanese (Japan), and Mandarin Chinese (mainland China).
    6. Apple Cash services are provided by Green Dot Bank, Member FDIC. Apple Payments Services LLC, a subsidiary of Apple Inc., is a service provider of Green Dot Bank for Apple Cash accounts. Neither Apple Inc. nor Apple Payments Services LLC is a bank. Learn more about the terms and conditions. Only available in the U.S. on eligible devices.

    Press Contacts

    Shane Bauer

    Apple

    shanebauer@apple.com

    Tania Olkhovaya

    Apple

    tolkhovaya@apple.com

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Economics –

  • MIL-OSI Banking: New handhelds combine the power of Xbox with the freedom of Windows 11

    Source: Microsoft

    Headline: New handhelds combine the power of Xbox with the freedom of Windows 11

    Together, we’ve combined our strengths and technical expertise to introduce something entirely new: the ROG Xbox Ally and ROG Xbox Ally X. These handhelds are built to make it easier than ever to access your favorite games—from Xbox, Battle.net, and other leading PC storefronts—all from a single device.

    This holiday, with ASUS, players can discover another way to play as we combine the power of Xbox with the freedom you expect from Windows. And this is only the beginning.

    Meet the ROG Xbox Ally and ROG Xbox Ally X

    • ROG Xbox Ally: The essential handheld at a great value for everyone from the casual player to the avid enthusiast.
    • ROG Xbox Ally X: The ultimate high-performance handheld, built for the most demanding players.

    Both handhelds allow players to play natively, via the cloud, or remotely with their Xbox console in another room.

    Next-Level Features Designed for Play Anywhere

    With the Xbox Ally and Xbox Ally X, players can look forward to an approachable gaming experience that travels with you wherever you go, featuring several new and first-of-their kind features on both devices—from an immersive Xbox full screen experience, an aggregated gaming library with access to installed games from leading PC storefronts, and more.

    We’ve optimized Windows 11 to be easy to use on the Xbox Ally and Xbox Ally X from the moment you power on. Game Bar makes it easy to return home, browse your library, launch or quit games, chat with friends, open apps, adjust settings, and more. Now, with the integration of ASUS’s innovative Armoury Crate, Game Bar also gives you streamlined access to advanced device and input controls. Details like the lock screen and task switcher have also been adjusted for easy navigation with a controller.

    Because these handhelds run Windows, you have access to games you can’t get elsewhere, so you can enjoy the full freedom and versatility of PC gaming—download games from your favorite storefront, run apps like Discord, watch your favorite streamers on Twitch, and play with your favorite mods—all straight from the Xbox experience. The choice is yours.

    Introducing the Xbox Experience for Handheld

    When you power on your Xbox Ally, you’ll boot directly into the Xbox full screen experience, a new feature optimized specifically for handheld gaming. With new modifications that minimize background activity and defer non-essential tasks, more system resources are dedicated specifically to gameplay. That means more memory, higher framerates, and a fully immersive experience for players—all made possible by the versatility and freedom of Windows.

    The Xbox Ally has more familiar Xbox touches, including:

    • Xbox button: With a dedicated Xbox button, players have access to chat, apps, and settings through an enhanced Game Bar overlay, allowing you to quickly switch between running apps and games.
    • Contoured grips: Created with player comfort in mind, and using the same design principles as Xbox Wireless Controllers, the Xbox Ally and Xbox Ally X feature contoured handgrips to accommodate a wider range of hand sizes.
    • Accessibility features: Game Bar and the Xbox app have also been optimized for handheld use, bringing along familiar accessibility features from Xbox consoles and Windows PCs, with much more to come in future.

    Easy Access to Games from Xbox, Leading PC Storefronts, and More

    Locating and accessing games across multiple channels can be a challenge —navigating through various browsers, storefronts, and login credentials can sometimes make gaming feel anything but fun. But with the Xbox Ally and Xbox Ally X, getting into the fun is easier and faster than ever.

    Within the Xbox full screen experience, players will see their aggregated gaming library, giving them quick access to games from Xbox, Game Pass, Battle.net, and other leading PC storefronts. With this new feature, your Xbox library, hundreds of Game Pass titles (membership required), and all your installed games from other PC game stores are always at your fingertips.

    We’re also making handheld gaming more seamless through our investment in Xbox Play Anywhere. With support for over 1,000 games, a single purchase means you can play with Xbox, including your progress and achievements, across Xbox console, PC and Xbox Ally—at no additional cost. And when you power on your Xbox Ally or Xbox Ally X, your favorite games are already there, ready to play. Whether you’ve been gaming on Xbox console, Xbox on PC, or in the cloud, everything syncs effortlessly. With Xbox Cloud Gaming (Beta) or Remote Play, you can access your full Xbox console library and keep playing—wherever you are.

    And yes…there’s still even more to come:

    • We’re excited to partner with Roblox for the launch of Xbox Ally. For the first time ever, Roblox will be playable natively and optimized for gaming handhelds, enabling players to play with millions of people and discover a variety of immersive games on day one.
    • We are working closely with our game developer partners on a brand-new program designed to help players easily identify which games have been optimized for handhelds, including the Xbox Ally and Xbox Ally X. We will share more details soon. 
    • Players who purchase an Xbox Ally or Xbox Ally X and are new to Game Pass will also be able to get started at no additional cost, accessing hundreds of games like Balatro, Gears Tactics, Vampire Survivors and more, straight from your device.
    • Players on either device will be able to tap into Gaming Copilot via Game Bar, a personalized gaming companion that helps you get to your favorite games faster, improve your skills, and connect you with your friends and communities.

    Two Great Choices & A First Look at Specs

    The Xbox Ally and Xbox Ally X are perfect for players looking to take an approachable gaming experience with you during travels— whether it’s between airports, or between the comfiest chairs in the living room.

    Both handhelds run on AMD processors that deliver premium gaming performance, immersive visuals, and more.

    The Xbox Ally offers great value for anyone looking to take their favorite games wherever they want to play, whether it’s Clair Obscur: Expedition 33, Gears of War: Reloaded, Lies of P, South of Midnight, or many more. It’s powered by the AMD Ryzen Z2 A Processor—balancing performance and power consumption to maximize battery life without sacrificing gameplay quality—16GB of RAM and 512GB of SSD storage.

    The Xbox Ally X offers more for players looking to get the best level of performance and visual settings from their favorite games on a handheld. It features the AMD Ryzen AI Z2 Extreme processor—allowing us to power the latest AI features as they are introduced— double the storage to have more native games at your fingertips, and 24GB of high-speed RAM that more demanding games crave. The Xbox Ally X also features impulse triggers for more immersive play.

    Here’s how the specs compare between the Xbox Ally and Xbox Ally X:

        ROG Xbox Ally   ROG Xbox Ally X  
    Operating System   Windows 11 Home   Windows 11 Home  
     Comfort & input    Contoured grips inspired by Xbox Wireless Controllers deliver all-day comfort. ABXY buttons / D-pad / L & R Hall Effect analog triggers / L & R bumpers / Xbox button / View button / Menu button / Command Center button / Library button / 2x assignable back buttons / 2x full-size analog sticks / HD haptics / 6-Axis IMU   Contoured grips inspired by Xbox Wireless Controllers deliver all-day comfort, complete with impulse triggers for enhanced control.  ABXY buttons / D-pad / L & R impulse triggers / L & R bumpers / Xbox button / View button / Menu button / Command Center button / Library button / 2x assignable back buttons / 2x full-size analog sticks / HD haptics / 6-Axis IMU  
    Processor   AMD Ryzen Z2 A Processor   AMD Ryzen AI Z2 Extreme Processor  
    Memory   16GB LPDDR5X-6400   24GB LPDDR5X-8000  
    Storage   512GB M.2 2280 SSD for easier upgrade   1TB M.2 2280 SSD for easier upgrade  
    Display   7” FHD (1080p) IPS, 500 nits, 16:9  
    120Hz refresh rate  
    FreeSync Premium  
    Corning Gorilla Glass Victus + DXC Anti-Reflection     		 7” FHD (1080p) IPS, 500 nits, 16:9  
    120Hz refresh rate  
    FreeSync Premium  
    Corning Gorilla Glass Victus + DXC Anti-Reflection 
    I/O Ports   2x USB 3.2 Gen 2 Type-C with DisplayPort 1.4 / Power Delivery 3.0   1x USB4 Type-C with DisplayPort 2.1 / Power Delivery 3.0, Thunderbolt 4 compatible  
    1x UHS-II microSD card reader (supports SD, SDXC and SDHC)   1x USB 3.2 Gen 2 Type-C with DisplayPort 2.1 / Power Delivery 3.0  
    1x 3.5mm Combo Audio Jack   1x UHS-II microSD card reader (supports SD, SDXC and SDHC; UHS-I with DDR200 mode)  
        1x 3.5mm Combo Audio Jack  
    Network and Communication   Wi-Fi 6E (2 x 2) + Bluetooth 5.4   Wi-Fi 6E (2 x 2) + Bluetooth 5.4  
    Dimensions   290.8*121.5*50.7mm   290.8*121.5*50.7mm  
    670g   715g  
    Battery   60Wh   80Wh  
    Included   ROG Xbox Ally  65W charger  Stand   ROG Xbox Ally X  65W charger  Stand  

    Pre-orders, Pricing, Accessories and More – Coming Soon

    At launch this holiday, the Xbox Ally and Xbox Ally X will be available in Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Korea, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Saudi Arabia, Singapore, Spain, Sweden, Switzerland, Thailand, Turkey, the United Arab Emirates, the United Kingdom, and the United States, with availability to follow for other markets where ROG Ally series products are sold today.

    But that’s not the only thing to look forward to. In the coming months, we’ll share even more details about the Xbox Ally and Xbox Ally X, including pricing, compatible accessories, and pre-orders. Interested in pre-ordering? Please sign up here to be notified when pre-orders go live.

    We can’t wait to share more about the Xbox Ally and Xbox Ally X. Thank you for joining us on this journey as we continue to fulfil our vision of delivering a consistent, approachable gaming experience anywhere—and meeting more players where you want to be.

    MIL OSI Global Banks –

  • MIL-OSI Banking: The future of data: Microsoft Fabric Community Conference coming to Atlanta March 16-20

    Source: Microsoft

    Headline: The future of data: Microsoft Fabric Community Conference coming to Atlanta March 16-20

    The Microsoft Fabric Community Conference is back for its third year—and we’re bringing everything and everybody you’ve loved at past events with us to Atlanta, Georgia. After unforgettable experiences at FabCon in Las Vegas and Stockholm, the Fabric community proved just how powerful it can be when we come together. With more than 13,000 attendees across our last three conferences, it’s clear: the Microsoft Fabric community is here to drive the future of data!   

    And yes, we’re pleased to announce; it’s happening again! Mark your calendars for #FabCon Atlanta from March 16-20, 2026, at the Georgia World Congress Center in Atlanta. Join us for the ultimate Microsoft Fabric, Power BI, SQL, Real-Time Intelligence, AI, and Databases community-led event. The third annual FabCon Americas will feature two full days of workshops ahead of sessions from your favorite Microsoft and community speakers, keynotes in the State Farm Arena, more opportunities to Ask the Experts for 1:1 support, an engaging community lounge with opportunities to network and connect with your peers, a dedicated partner pre-day, a packed expo hall, Power Hour, the second annual Data Viz World Championship, and a can’t-miss attendee party at the Georgia Aquarium.   

    FabCon features expert-led content by Microsoft MVPs, the Microsoft product team, partners, and the community itself. Whether you’re here to dive into the latest in Fabric, sharpen your skills, or build connections with data pros from around the world, FabCon 2026 has something for everyone.  

    • Don’t miss out—Register here and use code MSCATL for a $200 discount on top of current Super Early Bird pricing!   

    We can’t wait to take Atlanta by storm to celebrate all things Microsoft Fabric—where learning, innovation, and community collide!  

    What are some of the best things about FabCon coming to Atlanta? 

    • The GWCC will easily hold the 7,500 anticipated attendees. 
    • Flights into Atlanta are frequent, affordable, accessible, and often nonstop from almost anywhere in the world. 
    • Easy access to the GWCC and downtown from the airport via Ride Share or mass transit.   
    • Hotel availability to meet our needs within a five-block radius.   
    • Restaurants are plentiful and meals are more affordable than in many other cities. 
    • For the keynote, the conference center is adjacent to the State Farm Arena, the home of the Atlanta Hawks.  
    • The Georgia Aquarium will be an amazing location for the attendee party. They’ve got whale sharks!  

    Save your spot! 

    P.S. Want to experience the FabCon magic before next spring? Join us in September at FabCon Vienna. 

    MIL OSI Global Banks –

  • MIL-OSI Banking: Barclays is scaling Microsoft 365 Copilot to 100,000 employees, putting AI in every employee’s hands. This will simplify how they access information, get things done, and make Copilot the UI for Barclays AI.

    Source: Microsoft

    Headline: Barclays is scaling Microsoft 365 Copilot to 100,000 employees, putting AI in every employee’s hands. This will simplify how they access information, get things done, and make Copilot the UI for Barclays AI.

    This is a bit unclear. The white paper says, “The agreement follows a successful initial deployment of Microsoft 365 Copilot across 15,000 Barclays colleagues,” while the title states, “Barclays to roll out Microsoft 365 Copilot to 100,000 colleagues.” But Barclays reportedly has around 93,000 employees globally—so where is the 100,000 figure coming from? Does it include contractors or partners? Also, to date, Barclays’ adoption seems focused on Microsoft Teams as its preferred collaboration platform, and Microsoft Viva Engage as its employee community solution. Given that, are we talking about a broader rollout of Microsoft 365 as a whole—or is Barclays actually expanding its licensing footprint to include the additional cost associated specifically with Copilot? Some clarification would help separate what’s being positioned as new versus what’s a scaled-up use of existing platforms.

    MIL OSI Global Banks –