Banking and RBI
RBI issues Foreign Exchange Management (Authorised Persons) Regulations, 2026
6 May 2026 | Reserve Bank of India press release 2026-2027/213
On 6 May 2026 the RBI issued the Foreign Exchange Management (Authorised Persons) Regulations, 2026. The RBI said the Regulations aim to rationalise the authorisation and renewal framework for authorised persons and to extend the principal-agent model for delivery of foreign exchange facilities, while maintaining appropriate checks and balances.
The Regulations follow a draft framework published on the RBI's website on 26 December 2023, and the RBI said it examined and included feedback from stakeholders. Its response to the major comments is given in an annex to the press release.
Key facts- Issued: 6 May 2026 (Press Release 2026-2027/213)
- Name: Foreign Exchange Management (Authorised Persons) Regulations, 2026
- Aim: rationalise authorisation and renewal; extend principal-agent model
- Draft published: 26 December 2023
Exam takeaway: Authorised persons are entities such as banks and money changers authorised by the RBI to deal in foreign exchange.
Quick revision: RBI issues FEMA Authorised Persons Regulations, 2026 (draft of 26 Dec 2023), 6 May 2026.
Reserve Bank of India press release 2026-2027/213 original sourceBanking and RBI
ECLGS 5.0: Rs 5,000 crore of the Rs 2,55,000 crore credit flow earmarked for airlines
6 May 2026 | Press Information Bureau
Carried forward from 5 May 2026. In a follow-up release on 6 May 2026, PIB explained that the Cabinet-approved ECLGS 5.0 earmarks Rs 5,000 crore of the Rs 2,55,000 crore additional credit flow for airlines, which face stress from a sharp rise in ATF prices, airspace closures and reduced international operations.
For airlines the maximum loan limit is Rs 1,000 crore per borrower, with an additional Rs 500 crore subject to an equivalent equity infusion by the borrower. Loans have a tenure of up to 7 years including a 2-year moratorium on repayment. Cover is 100 per cent for MSMEs and 90 per cent for non-MSMEs and the airline sector.
Key facts- Original approval: 5 May 2026 (ECLGS 5.0)
- Airline earmark: Rs 5,000 crore of Rs 2,55,000 crore
- Airline loan limit: Rs 1,000 crore, plus Rs 500 crore with equal equity infusion
- Tenure: up to 7 years including 2-year moratorium
Exam takeaway: ATF is aviation turbine fuel, the jet fuel whose price rise squeezes airline finances.
Quick revision: ECLGS 5.0 airlines: Rs 5,000 crore earmark; Rs 1,000 crore limit (+Rs 500 crore with equity); 7-year tenure (PIB, 6 May).
Press Information Bureau original sourceAppointments, Awards and Important Days
Shashi Shekhar Vempati appointed Chairperson of the CBFC
6 May 2026 | The Economic Times (PTI)
Shashi Shekhar Vempati, former CEO of Prasar Bharati, was appointed Chairperson of the Central Board of Film Certification (CBFC) by the government on Wednesday, 6 May 2026, The Economic Times reported citing PTI.
He succeeds Prasoon Joshi, who moved to head Prasar Bharati (appointed 2 May 2026).
Key facts- Post: Chairperson, Central Board of Film Certification
- Appointee: Shashi Shekhar Vempati (former CEO, Prasar Bharati)
- Predecessor: Prasoon Joshi
- Related: Joshi appointed Prasar Bharati Chairman on 2 May 2026
Exam takeaway: The CBFC certifies films for public exhibition in India.
Quick revision: CBFC Chairperson: Shashi Shekhar Vempati succeeds Prasoon Joshi (ET/PTI, 6 May 2026).
The Economic Times (PTI) original source