Banking and RBI
RBI temporarily removes interest rate ceiling on fresh FCNR(B) and NRE deposits till 30 September
17 June 2026 | The Economic Times
The Economic Times reported that the RBI on Wednesday, 17 June 2026, temporarily removed the interest rate ceiling on fresh FCNR(B) deposits of three to five years and on NRE deposits of three years and above, including deposits renewed on maturity. The direction took effect immediately and remains valid till 30 September 2026.
The RBI website's notification list for the day shows Interest Rate on Deposits amendment directions for commercial banks, small finance banks, regional rural banks, local area banks and urban and rural co-operative banks, and data on forex inflows through the FCNR(B), ECB and OFCB swap facility. The RBI notifications themselves were not read for this edition.
Key facts- Cap removed on: fresh FCNR(B) deposits (3 to 5 years) and NRE deposits (3 years and above)
- Valid till: 30 September 2026
- Effective: immediately (per ET)
- Linked to: forex inflow measures after the 5 June policy
Exam takeaway: Banks may price these non-resident deposits freely during the window.
Quick revision: RBI removes interest rate caps on FCNR(B), NRE deposits till 30 Sep 2026 (ET).
The Economic Times original sourceNational and International Affairs
India-UK CETA to enter into force on 15 July 2026
17 June 2026 | Press Information Bureau
PIB said Prime Minister Narendra Modi expressed delight that the India-UK Comprehensive Economic and Trade Agreement will enter into force on 15 July 2026, saying it will boost bilateral trade and investment and open opportunities for farmers, workers, MSMEs, startups and innovators.
The Prime Minister noted that he and UK Prime Minister Keir Starmer were both in Evian for the G7 Summit. This item is based on the announcement of a future date; the agreement had not yet entered into force on 17 June 2026.
Key facts- Agreement: India-UK Comprehensive Economic and Trade Agreement
- Entry into force: 15 July 2026 (announced 17 June)
- Leaders: Modi and Starmer, at G7 Summit, Evian
- Beneficiaries named: farmers, workers, MSMEs, startups
Exam takeaway: CETA is a free trade agreement covering goods, services and investment.
Quick revision: India-UK CETA to enter into force on 15 July 2026 (PIB, 17 June).
Press Information Bureau original sourceAppointments, Awards and Important Days
Dr Saibal Chattopadhyay appointed Chairperson of the National Statistical Commission
17 June 2026 | Press Information Bureau
PIB said the Appointments Committee of the Cabinet approved the appointment of Dr Saibal Chattopadhyay, former Director of IIM Kolkata, as Chairperson of the National Statistical Commission (NSC), with Prof. Shubhabrata Das, Shri Satyendra Bahadur Singh and Dr Madhavan Mukund as Members.
The NSC was set up in 2005 as the nodal body for core statistical activities. It has a part-time Chairperson, four part-time Members and the CEO of NITI Aayog as ex-officio Member; the Secretary, MoSPI is its Secretary.
Key facts- Chairperson: Dr Saibal Chattopadhyay (former Director, IIM Kolkata)
- Members: Shubhabrata Das, Satyendra Bahadur Singh, Madhavan Mukund
- NSC set up: 2005
- Approved by: Appointments Committee of the Cabinet
Exam takeaway: NSC is the nodal body to evolve and enforce statistical standards in India.
Quick revision: Saibal Chattopadhyay named NSC Chairperson (PIB, 17 June 2026).
Press Information Bureau original source