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24 April 2026, sources dated 24 April 2026 research cutoff
4 verified stories · 5 notes pages · 11 original MCQs
Download Test PDFAnswer Key PDFBanking and RBI
RBI cancels the banking licence of Paytm Payments Bank Limited
24 April 2026 | Reserve Bank of India press release
By an order dated 24 April 2026 the RBI cancelled the banking licence of Paytm Payments Bank Limited under Section 22(4) of the Banking Regulation Act, 1949, effective from close of business on 24 April 2026. The bank is prohibited from conducting 'banking' business as defined in Section 5(b) or any additional business under Section 6 with immediate effect. The RBI will apply to the High Court for winding up and says the bank has enough liquidity to repay its entire deposit liability.
The RBI cited that the bank's affairs were conducted in a manner detrimental to the bank and its depositors (Section 22(3)(b)), the general character of management was prejudicial to depositors and public interest (22(3)(c)), no useful purpose would be served by letting the bank continue (22(3)(e)), and it failed to comply with the conditions of its Payments Bank licence (22(3)(g)). The bank had been barred from onboarding new customers from 11 March 2022, and on 31 January and 16 February 2024 further restrictions disallowed deposits, credits and top-ups in existing accounts, prepaid instruments and wallets.
Key facts- Action: licence cancelled under Section 22(4), BR Act 1949
- Effective: close of business, 24 April 2026
- Next: RBI to seek winding up before the High Court
- Earlier curbs: no new customers from 11 Mar 2022; deposit curbs Jan-Feb 2024
Exam takeaway: A Payments Bank can accept deposits and offer payments services but cannot lend.
Quick revision: RBI cancels Paytm Payments Bank licence (24 Apr 2026); winding-up application to High Court; deposits can be repaid.
Reserve Bank of India press release original sourceBanking and RBI
RBI notifies Rs 14,500 crore State Government Securities auction on 28 April
24 April 2026 | Reserve Bank of India press release
On 24 April 2026 the RBI announced that State Governments - Assam, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Uttar Pradesh and Uttarakhand - have offered to sell stock for an aggregate Rs 14,500 crore (face value). The auction is on the e-Kuber system on Tuesday, 28 April 2026.
It includes a re-issue of 7.72% Bihar SGS 2041 (Rs 1,200 crore) and of 7.67% Uttar Pradesh SGS 2041 (Rs 2,500 crore) through price-based auctions. Competitive bids run 10:30 to 11:30 AM and non-competitive bids 10:30 to 11:00 AM, and individuals can bid through the Retail Direct portal.
Key facts- Aggregate: Rs 14,500 crore
- Auction date: 28 April 2026 on e-Kuber
- Re-issues: Bihar SGS 2041 (Rs 1,200 crore), UP SGS 2041 (Rs 2,500 crore)
- Non-competitive allotment up to 10% of notified amount
Exam takeaway: State Government Securities are rupee loans raised by States through RBI auctions.
Quick revision: RBI: State G-sec auction of Rs 14,500 crore on 28 April 2026.
Reserve Bank of India press release original sourceNational and International Affairs
SEBI allows net settlement of funds for FPIs in the cash market
24 April 2026 | The Economic Times (ETMarkets, ANI)
SEBI has introduced a framework allowing net settlement of funds for Foreign Portfolio Investors (FPIs) in the cash market, ET reported on 24 April 2026. At present FPIs settle trades on a gross basis at the custodian level, although custodians net their obligations with clearing corporations. This has meant higher liquidity requirements and forex-related costs, especially during index rebalancing.
SEBI has permitted netting of funds for 'outright transactions', defined as transactions involving either only purchases or only sales, while keeping safeguards for others. The move is expected to lower liquidity needs and operational costs for foreign investors.
Key facts- Regulator: SEBI; users: FPIs
- Earlier: gross settlement at custodian level
- Now: netting allowed for outright (only-buy or only-sell) transactions
- Aim: lower liquidity needs and costs
Exam takeaway: Net settlement offsets buys and sells so only the net amount moves.
Quick revision: SEBI framework (24 Apr 2026): net settlement of funds for FPIs in cash market for outright transactions.
The Economic Times (ETMarkets, ANI) original sourceAppointments, Awards and Important Days
Ashok Lahiri to be next NITI Aayog Vice-Chairman, report says
24 April 2026 | The Economic Times
The Economic Times reported on 24 April 2026, citing government sources, that former Chief Economic Adviser Ashok Lahiri will be the next Vice-Chairman of NITI Aayog, replacing Suman Bery. The report says Lahiri was a member of the 15th Finance Commission and is currently a member of the West Bengal Legislative Assembly.
It adds that he earlier served as CEA under Prime Minister Atal Bihari Vajpayee, and that Gobardhan Das will also join NITI Aayog as a member. The Prime Minister is chairman of NITI Aayog. This item is based on government sources, not an official notification.
Key facts- Body: NITI Aayog; chairman: Prime Minister
- Reported next Vice-Chairman: Ashok Lahiri (replacing Suman Bery)
- Earlier: CEA under PM Vajpayee; 15th Finance Commission member
- Gobardhan Das to join as member
Exam takeaway: NITI Aayog replaced the Planning Commission as the government's policy think tank.
Quick revision: NITI Aayog: Ashok Lahiri reported as next Vice-Chairman (ET, govt sources, 24 Apr 2026).
The Economic Times original source