Business
First Big Step Towards…: Goyal Meets Israeli President, Welcomes Launch Of FTA talks
New Delhi: Union Minister for Commerce and Industry Piyush Goyal on Sunday met with Isaac Herzog, President of Israel, to further strengthen the strategic partnership between India and Israel.
During the discussions, Goyal conveyed warm greetings from the people of India and highlighted opportunities for deeper collaboration across trade, investment, innovation, and technology.
During the meeting, Goyal shared the positive outcomes of the recently held Business Forum and CEOs Forum, which brought together business leaders from both countries. He also underscored the first major step towards Free Trade Agreement (FTA) negotiations, highlighting its potential to boost economic engagement and facilitate bilateral trade.
In a post on social media platform X, he wrote, “Honoured to call on H.E. @Isaac_Herzog, President of the State of Israel. Conveyed the warm greetings of the people of India. Our discussions covered the full spectrum of our strategic partnership, including trade and investment, science & technology, innovation, and deeper economic engagement.”
Goyal emphasised India’s robust growth story and the wide-ranging opportunities available for Israeli partners in sectors such as science and technology, innovation, and investment. The discussions reflected a mutual commitment to deepening economic ties and leveraging each country’s strengths for strategic and commercial collaboration, he added.
“Shared the positive outcomes of the Business Forum and the CEOs Forum, and the first big step towards FTA negotiations. Also underlined India’s robust growth story and the wide-ranging business opportunities for Israeli partners,” the post added.
Earlier, during his meeting with Israel’s Prime Minister Benjamin Netanyahu, Goyal highlighted the successful Business Forum and CEOs Forum, which attracted over 60 members of the Indian business delegation.
During his visit to Israel, Goyal held a series of wide-ranging engagements, further strengthening bilateral cooperation across agriculture, technology, innovation and trade. During his meetings on 21 November, Goyal met with Israeli Minister of Agriculture and Food Security Avi Dichter for a detailed discussion on advancing agricultural collaboration.
Minister Dichter briefed Goyal on Israel’s 25-year food security roadmap, its advanced seed-improvement strategies, and the country’s global leadership in water-reuse technologies for agriculture.
Earlier, on 20 November 2025, Goyal commenced his official engagements with a meeting with Israel’s Minister of Economy, Barkat. The two leaders reviewed the current trajectory of bilateral trade and explored new areas of cooperation.
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RBI has summoned senior officials of Yes Bank following a major data breach involving the Yes Bank–BookMyForex multi-currency forex card
Reserve Bank of India headquarters in Mumbai.
The Reserve Bank of India (RBI) has summoned senior officials of Yes Bank following a major data breach involving the Yes Bank–BookMyForex multi-currency forex card, two people aware of the development told The Economic Times (ET).
According to the report, card details and CVV numbers of several users were allegedly compromised. The central bank has sought a detailed explanation from the bank on how its systems may have been breached and the sequence of events that led to the exposure of sensitive customer data.
“The RBI has sought a comprehensive briefing from Yes Bank’s senior management on the root cause of the breach, the timeline of events, and the adequacy of the bank’s cybersecurity framework,” one of the persons cited by ET said. “The regulator wants clarity on how sensitive card data, including CVV numbers, may have been exposed and what immediate containment measures have been implemented.”
Yes Bank declined to comment on the RBI’s queries but said an internal investigation had identified fraudulent transactions involving 15 merchants in a Latin American country on February 24. Transactions worth Rs 2.54 crore were approved across 5,000 customers, while 688 unauthorised attempts amounting to around Rs 90 lakh were blocked. The bank said it is working with the card network to initiate chargebacks and ensure that affected customers do not face financial losses.
Separately, BookMyForex said it does not store customers’ sensitive card information and that its systems were neither breached nor compromised during the period in question.
The RBI has also sought details on how sensitive card data—particularly CVVs—was stored and protected, whether encryption and prescribed security protocols were followed, and why existing cyber controls failed to prevent the breach. In addition, the regulator is reviewing the timeline of detection and reporting, the robustness of third-party risk management and oversight, the number of customers impacted, and the steps taken to block cards, prevent misuse and mitigate losses. It has also asked for clarity on internal accountability, supervisory lapses and remedial measures to prevent a recurrence, ET reported.
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February 26, 2026, 07:53 IST
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