Banking and RBI
RBI to conduct Rs 75,000 crore 3-day VRR auction on 2 June
1 June 2026 | Reserve Bank of India
After a review of liquidity conditions the RBI decided to conduct a 3-day Variable Rate Repo (VRR) auction under the LAF on Tuesday, 2 June 2026 for Rs 75,000 crore, 9:30 to 10:00 AM, with reversal on Friday, 5 June 2026. This is smaller than the Rs 1,50,000 crore 4-day auction held on 25 May.
Key facts- Auction: 2 June 2026; 3-day VRR under LAF
- Notified amount: Rs 75,000 crore
- Window: 9:30 to 10:00 AM
- Reversal: 5 June 2026
Exam takeaway: VRR auctions inject liquidity for a short, fixed tenor.
Quick revision: RBI 3-day VRR auction 2 June 2026: Rs 75,000 crore (RBI).
Reserve Bank of India original sourceBanking and RBI
RBI Citizen's Charter: 99.9% of applications processed within timeline in May 2026
1 June 2026 | Reserve Bank of India
The RBI's Citizen's Charter status for May 2026 shows 16,865 applications received during the month and 2,473 pending at the beginning. It processed 16,209 applications, of which 16,193 (99.9%) were within the timeline and 16 (0.1%) beyond it.
At month end, 2,554 applications were pending, 2,539 (99.4%) within timeline and 15 (0.6%) beyond it, awaiting inputs from external agencies (14) and under process (1).
Key facts- Received in May 2026: 16,865
- Processed: 16,209; within timeline 99.9%
- Pending at month end: 2,554
- Pending beyond timeline: 15 (0.6%)
Exam takeaway: A Citizen's Charter commits an organisation to service timelines.
Quick revision: RBI Citizen's Charter May 2026: 16,865 received; 99.9% processed within timeline (RBI).
Reserve Bank of India original sourceGovernment Schemes
ECLGS 5.0 targets Rs 2,55,000 crore additional credit, including Rs 5,000 crore for airlines
1 June 2026 | Press Information Bureau
In its 1 June 2026 inter-ministerial update on the West Asia situation, PIB said ECLGS 5.0 targets a total additional credit flow of Rs 2,55,000 crore, including Rs 5,000 crore for airlines, for eligible business borrowers.
The update also said about 1.22 crore LPG cylinders were delivered in three days against bookings of about 1.21 crore, petrol and diesel stocks are adequate, and shipping services East of Hormuz and through the Red Sea rose from 127 in February to a peak of 257 in April, with 245 in May.
Key facts- ECLGS 5.0 target: Rs 2,55,000 crore additional credit
- Airlines' share: Rs 5,000 crore
- LPG: about 1.22 crore cylinders delivered in 3 days
- Shipping services East of Hormuz and Red Sea: 127 (Feb), 257 (Apr peak), 245 (May)
Exam takeaway: This update restates figures given by the Government in its media briefing.
Quick revision: ECLGS 5.0 target Rs 2,55,000 crore incl. Rs 5,000 crore for airlines (PIB, 1 June).
Press Information Bureau original sourceAppointments, Awards and Important Days
President appoints five new Supreme Court judges
1 June 2026 | Press Information Bureau
PIB said that by notifications dated 1 June 2026, issued under Article 124(2) of the Constitution, the President appointed five Judges of the Supreme Court of India, with effect from the date they assume charge: Justice Sheel Nagu (Chief Justice, Punjab and Haryana High Court), Justice Shree Chandrashekhar (Chief Justice, Bombay High Court), Justice Sanjeev Sachdeva (Chief Justice, Madhya Pradesh High Court), Justice Arun Palli (Chief Justice, Jammu & Kashmir and Ladakh High Court) and Senior Advocate Venkita Subramani Mohana.
Key facts- Appointed: 5 Supreme Court Judges, notification dated 1 June 2026
- Provision: Article 124(2) of the Constitution
- Four are sitting High Court Chief Justices
- Fifth: Senior Advocate Venkita Subramani Mohana
Exam takeaway: Article 124 deals with the establishment and constitution of the Supreme Court.
Quick revision: Five new SC judges appointed 1 June 2026 under Article 124(2) (PIB).
Press Information Bureau original source