Banking and RBI
RBI notifies Rs 16,900 crore State Government Securities auction on 21 April
18 April 2026 | Reserve Bank of India press release
On 18 April 2026 the RBI published a revised notice for auction of State Government Securities. Andhra Pradesh, Maharashtra, Punjab, Rajasthan and Telangana have offered to sell stock for an aggregate Rs 16,900 crore (face value).
The auction will be conducted on the RBI's e-Kuber system on Tuesday, 21 April 2026. Government stock up to 10 per cent of the notified amount of each sale will be allotted to eligible individuals and institutions. Rajasthan's offering includes Rs 1,800 crore as a re-issue of 7.99% Rajasthan SGS 2041, issued on 30 March 2026, through a price-based auction.
Key facts- Aggregate: Rs 16,900 crore
- States: Andhra Pradesh, Maharashtra, Punjab, Rajasthan, Telangana
- Auction date: 21 April 2026 on e-Kuber
- Rajasthan re-issue: 7.99% SGS 2041, Rs 1,800 crore
Exam takeaway: State Government Securities are market borrowings by State governments, also called State Development Loans.
Quick revision: RBI: State G-sec auction of Rs 16,900 crore on 21 April 2026 (5 States).
Reserve Bank of India press release original sourceEconomy and Finance
Cabinet approves Bharat Maritime Insurance Pool with Rs 12,980 crore sovereign guarantee
18 April 2026 | Press Information Bureau (Cabinet decision)
On 18 April 2026 the Union Cabinet, chaired by PM Narendra Modi, approved the creation of a domestic insurance pool, the Bharat Maritime Insurance Pool (BMI Pool), with a sovereign guarantee of Rs 12,980 crore. It aims to give continuous, affordable insurance for vessels carrying cargo between any international origin and Indian ports, even when transiting volatile maritime corridors.
The pool covers all maritime risks: Hull and Machinery, Cargo, Protection and Indemnity (P&I) and War risk. Policies will be issued by insurers that are pool members, using combined underwriting capacity of around Rs 950 crore. A Governing Body will oversee its functioning. The PIB says the guarantee is rooted in self-reliance, sanctions resilience and greater sovereign control, and notes high dependence of Indian vessels on the International Group of P&I Clubs.
Key facts- Approved by: Union Cabinet, 18 April 2026
- Sovereign guarantee: Rs 12,980 crore
- Risks: Hull and Machinery, Cargo, P&I, War
- Pool underwriting capacity: around Rs 950 crore
Exam takeaway: P&I insurance covers third-party liabilities such as oil pollution, wreck removal and cargo damage.
Quick revision: Cabinet: Bharat Maritime Insurance Pool, sovereign guarantee Rs 12,980 crore, all maritime risks covered.
Press Information Bureau (Cabinet decision) original sourceGovernment Schemes
Cabinet extends PMGSY-III to March 2028 with outlay of Rs 83,977 crore
18 April 2026 | Press Information Bureau (Cabinet decision)
The Union Cabinet on 18 April 2026 approved continuation of Pradhan Mantri Gram Sadak Yojana-III (PMGSY-III) beyond March 2025 up to March 2028. It consolidates Through Routes and Major Rural Links connecting habitations to Gramin Agricultural Markets (GrAMs), higher secondary schools and hospitals.
The revised outlay is Rs 83,977 crore, up from Rs 80,250 crore. Timeline for roads and bridges in plain areas and roads in hilly areas is extended to March 2028, and for bridges in hilly areas to March 2029. Works sanctioned before 31 March 2025 but not yet awarded can be tendered, and 161 Long Span Bridges costing an estimated Rs 961 crore can be sanctioned.
Key facts- Scheme: PMGSY-III, extended to March 2028
- Revised outlay: Rs 83,977 crore (earlier Rs 80,250 crore)
- Hilly-area bridges: till March 2029
- 161 Long Span Bridges (Rs 961 crore) may be sanctioned
Exam takeaway: PMGSY is the rural roads scheme of the Ministry of Rural Development.
Quick revision: PMGSY-III extended to March 2028; outlay Rs 83,977 crore.
Press Information Bureau (Cabinet decision) original source