Banking and RBI
RBI Bulletin April 2026: State of the Economy and new CPI base
23 April 2026 | Reserve Bank of India press release 2026-2027/128
On 23 April 2026 the RBI released the April 2026 issue of its monthly Bulletin. It includes the bi-monthly monetary policy statement of 8 April 2026, two speeches, one article and current statistics. In current statistics, Table 19 on the Consumer Price Index is revised in line with the new CPI (base 2024=100) and now includes a measure of core inflation, that is CPI excluding food and fuel.
The State of the Economy article says the West Asia conflict intensified pressure on global supply chains in March, with some easing in the first half of April. CPI inflation, driven by fuel and food, marginally edged up in March. Money market and bond yields moderated after the temporary ceasefire. A slowdown in imports and expansion in exports narrowed the trade deficit to a nine-month low, and net FDI turned positive in February. The RBI notes the views are of the authors and not of the RBI.
Key facts- Publication: RBI Bulletin, April 2026 (released 23 April)
- CPI table revised to new base 2024=100
- New core inflation measure: CPI excluding food and fuel
- Trade deficit at a nine-month low; net FDI positive in February
Exam takeaway: Core inflation strips out volatile food and fuel prices to show underlying price pressure.
Quick revision: RBI Bulletin Apr 2026: CPI base 2024=100 with core inflation; trade deficit at 9-month low.
Reserve Bank of India press release 2026-2027/128 original sourceGovernment Schemes
Social Justice Ministry to hold National Chintan Shivir in Chandigarh, 24-26 April
23 April 2026 | Press Information Bureau (Ministry of Social Justice and Empowerment)
The Ministry of Social Justice and Empowerment will hold a three-day National Chintan Shivir with States and UTs in Chandigarh from 24 to 26 April 2026, announced PIB on 23 April. The theme is 'Antyodaya ka Sankalp, Amrit Kaal ka Pratibimb - Viksit Bharat @2047'. Union Minister Dr Virendra Kumar will preside over the inaugural session with Ministers of State B. L. Verma and Ramdas Athawale present.
Launches planned include the SAMAVESH portal, NMBA 2.0 App, SETU App and SMILE App, along with a book on Minimum Standards for Dementia Care Homes and Model Guidelines for Beggar Homes. MoUs between the National Institute of Social Defence and several institutions will be signed. Discussion topics include scholarship delivery, the Nasha Mukt Bharat ecosystem, dignity in sanitation work, senior citizen care and early intervention for children with disabilities.
Key facts- Event: National Chintan Shivir, Chandigarh, 24-26 April 2026
- Presiding: Dr Virendra Kumar
- Launches: SAMAVESH portal, NMBA 2.0, SETU and SMILE apps
- Topics: scholarships, Nasha Mukt Bharat, senior citizens, disability
Exam takeaway: A Chintan Shivir is a brainstorming retreat of Centre and State officials to plan scheme delivery.
Quick revision: MoSJE Chintan Shivir, Chandigarh, 24-26 Apr 2026; SAMAVESH, NMBA 2.0, SETU, SMILE launches.
Press Information Bureau (Ministry of Social Justice and Empowerment) original sourceNational and International Affairs
Bengaluru Commercial Taxes Department busts Rs 410 crore fake GST invoicing network
23 April 2026 | CNBC TV18
CNBC TV18 reported on 23 April 2026 that the Commercial Taxes Department in Bengaluru unearthed a fake invoicing network involving alleged tax evasion of Rs 410 crore, of which Rs 102.5 crore relates to fraudulent input tax credit (ITC) claims. One accused has been arrested, and the probe covers shell entities spread across Karnataka, Andhra Pradesh and Tamil Nadu.
Officials said the racket issued invoices with no underlying supply of goods, set up shell firms using forged rental and lease agreements, and enabled ITC claims. The authorities believe the figures could rise as downstream beneficiaries are traced.
Key facts- Agency: Commercial Taxes Department, Bengaluru
- Alleged evasion: Rs 410 crore; fraudulent ITC: Rs 102.5 crore
- One arrest; shell firms across 3 States
- Method: invoices without supply of goods
Exam takeaway: Input tax credit lets businesses offset GST paid on purchases against GST on sales.
Quick revision: Bengaluru: Rs 410 crore fake invoicing network busted; ITC part Rs 102.5 crore; 1 arrest.
CNBC TV18 original source