June 2026 Compilation · Monthly Current Affairs

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.

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).

Banking 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).

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).

Banking and RBI

RBI to conduct Rs 50,000 crore 2-day VRR auction on 3 June

2 June 2026 | Reserve Bank of India

The RBI decided to conduct a 2-day Variable Rate Repo auction under the LAF on Wednesday, 3 June 2026 for Rs 50,000 crore, 9:30 to 10:00 AM, with reversal on Friday, 5 June 2026.

The RBI's money market data for 1 June 2026 show the overnight segment's weighted average rate at 5.16 per cent on a volume of Rs 7,63,639.61 crore, with Rs 96,543 crore parked under the SDF at 5.00 per cent and Rs 623 crore taken under the MSF at 5.50 per cent.

Exam takeaway: The SDF rate is the floor of the LAF corridor and the MSF rate is its ceiling.

Quick revision: RBI 2-day VRR 3 June 2026: Rs 50,000 crore; overnight WAR 5.16% on 1 June (RBI).

Banking and RBI

RBI says reports of gold sales are incorrect; physical gold stock unchanged at 880.52 tonnes

3 June 2026 | The Hindu (PTI) and CNBC-TV18

The Hindu (PTI) reported on 3 June 2026 that the RBI dismissed media reports that it had sold gold worth about USD 12 billion to shield its reserves from the West Asia conflict, saying its physical gold stock remains unchanged at 880.52 tonnes.

CNBC-TV18 reported that the RBI's press release said such reports were not correct and that gold holdings are disclosed regularly through its Monthly Bulletin. The RBI's own release page was not read for this edition, so figures are attributed to these outlets.

Exam takeaway: The RBI discloses its gold holdings in its Monthly Bulletin and weekly data.

Quick revision: RBI: gold stock unchanged at 880.52 tonnes; sale reports incorrect (The Hindu/PTI, 3 June).

Banking and RBI

RBI MPC keeps repo rate unchanged at 5.25%; GDP growth projected at 6.6% for 2026-27

5 June 2026 | Reserve Bank of India and The Hindu

The RBI Governor's Statement of 5 June 2026 says the Monetary Policy Committee, which met on 3, 4 and 5 June, voted unanimously to keep the policy repo rate under the LAF unchanged at 5.25 per cent. The SDF rate remains 5.00 per cent and the MSF rate and Bank Rate 5.50 per cent. The MPC continued with the neutral stance.

The RBI's resolution projects real GDP growth for 2026-27 at 6.6 per cent (Q1 6.6, Q2 6.3, Q3 6.5, Q4 6.8 per cent). The Hindu reported that this is down from the earlier 6.9 per cent, and that CPI inflation for 2026-27 is projected at 5.1 per cent, 50 basis points higher than earlier, with core inflation at 4.7 per cent.

Exam takeaway: Repo rate is the rate at which RBI lends to banks; the SDF rate is repo minus 0.25 percentage point here.

Quick revision: RBI MPC 5 June 2026: repo 5.25% unchanged, neutral stance, GDP 6.6% (RBI; The Hindu).

Banking and RBI

RBI introduces US Dollar-Rupee forex swap facility for fresh FCNR(B) deposits

8 June 2026 | Reserve Bank of India

An RBI notification of 8 June 2026 to AD Category-I banks, issued after the Governor's Statement of 5 June, introduces a US Dollar-Rupee forex swap facility for fresh FCNR(B) deposits mobilised for a minimum tenor of three years and a maximum of five years.

The facility covers fresh deposits in any freely convertible currency, including deposits renewed on maturity, but the swap with RBI is available in US dollars only. The swap tenor aligns with the tenor of the underlying deposits, and banks remain free to price these deposits within the overall ceiling under existing RBI guidelines. Banks must keep separate records with an audit trail for deposits covered under the scheme.

Exam takeaway: FCNR(B) is the Foreign Currency Non-Resident (Bank) deposit held in foreign currency by NRIs.

Quick revision: RBI 8 June 2026: forex swap facility for fresh FCNR(B) deposits of 3 to 5 years.

Banking and RBI

RBI exempts fresh FCNR(B) deposits from CRR and SLR till 30 September 2026

9 June 2026 | ANI and News18

ANI reported on 9 June 2026 that the RBI exempted fresh FCNR(B) deposits mobilised by banks from Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) requirements, to facilitate foreign currency inflows under the announced US Dollar-Rupee swap facility. Four separate notifications were issued for commercial banks, small finance banks, rural co-operative banks and regional rural banks.

The exemption applies to fresh FCNR(B) deposits of minimum three and maximum five years tenor raised up to 30 September 2026. News18 reported it comes into force with immediate effect. The RBI notifications themselves were not read for this edition, so details are attributed to these outlets.

Exam takeaway: CRR and SLR are the reserve and liquid-asset requirements banks must maintain.

Quick revision: RBI: fresh FCNR(B) deposits exempt from CRR and SLR till 30 Sep 2026 (ANI/News18).

Banking and RBI

RBI: redemption price for premature redemption of SGB 2019-20 Series VII

9 June 2026 | Reserve Bank of India

An RBI press release of 9 June 2026 says premature redemption of Sovereign Gold Bond 2019-20 Series VII (issued 10 December 2019) is due on 10 June 2026, as redemption is permitted after the fifth year on an interest payment date.

The redemption price is Rs 15,275 per unit, based on the simple average of the closing price of 999-purity gold published by IBJA for the three business days of 5, 8 and 9 June 2026.

Exam takeaway: SGB premature redemption is allowed after the fifth year, on interest payment dates.

Quick revision: SGB 2019-20 Series VII: redemption price Rs 15,275 on 10 June 2026 (RBI).

Banking and RBI

RBI consolidates instructions on withdrawal of pre-2005 banknotes

9 June 2026 | Reserve Bank of India

An RBI circular of 9 June 2026 consolidates instructions on the withdrawal of old series banknotes issued prior to 2005. It recalls that the 2014 decision was to withdraw them completely, and that from 1 July 2016 exchange is available only at the 19 RBI Issue Offices.

Banks must ensure pre-2005 notes are not re-issued through ATMs or counters, and must sort them and deposit them in currency chests or send them to the nearest RBI Issue Office. The circular lists earlier related notifications and whether they are withdrawn or in vogue.

Exam takeaway: Banknotes withdrawn from circulation by RBI policy follow dedicated exchange instructions.

Quick revision: RBI consolidated instructions on pre-2005 banknotes, 9 June 2026.

Banking and RBI

RBI issues final directions allowing commercial banks to lend to REITs

10 June 2026 | Reserve Bank of India

An RBI press release of 10 June 2026 says the RBI issued Final Amendment Directions on lending to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Draft directions had been issued on 13 February 2026.

The draft proposed to permit commercial banks to finance REITs with prudential safeguards, including a regulatory ceiling on exposure to REITs, and to harmonise the existing InvIT lending guidelines (for commercial banks, small finance banks and All India Financial Institutions) with these safeguards. Feedback was examined and changes incorporated into the final directions.

Exam takeaway: REITs and InvITs are trusts that pool money into real estate and infrastructure assets.

Quick revision: RBI 10 June 2026: final directions on bank lending to REITs and InvITs.

Banking and RBI

RBI invites comments on draft SA-CCR directions for counterparty credit risk

10 June 2026 | Reserve Bank of India

The RBI on 10 June 2026 invited public comments on draft Amendment Directions on the Standardised Approach for Counterparty Credit Risk (SA-CCR). Current guidelines use the Current Exposure Method (CEM) to compute counterparty credit risk exposure.

The release recalls that SA-CCR-based guidelines were issued in 2016 for implementation from 1 April 2018, but implementation was deferred. It notes the Bilateral Netting of Qualified Financial Contracts Act, 2020 and the 2024 margining directions for non-centrally cleared OTC derivatives since then.

Exam takeaway: SA-CCR is a Basel standard for measuring derivative counterparty exposure.

Quick revision: RBI draft SA-CCR directions released for comments, 10 June 2026.

Banking and RBI

RBI releases ECB, FCCB and RDB data for April 2026

11 June 2026 | Reserve Bank of India

The RBI on 11 June 2026 released data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB) and Rupee Denominated Bonds (RDB), through both the Automatic Route and the Approval Route, for April 2026.

The RBI also announced an underwriting auction on 12 June 2026 for government securities worth Rs 32,000 crore: 6.36% GS 2031 (Rs 21,000 crore) and 7.71% GS 2066 (Rs 11,000 crore).

Exam takeaway: ECBs are foreign-currency loans raised by Indian entities from non-resident lenders.

Quick revision: RBI released ECB/FCCB/RDB data for April 2026 on 11 June.

Banking and RBI

RBI weekly statistical supplement: forex reserves at US$ 681.61 billion as on 5 June 2026

12 June 2026 | Reserve Bank of India

The RBI's Weekly Statistical Supplement extract released on 12 June 2026 shows total foreign exchange reserves at US$ 681,610 million (Rs 64,70,564 crore) as on 5 June 2026, a fall of US$ 711 million over the week.

Foreign currency assets were US$ 543,444 million, down US$ 2,704 million over the week, while gold holdings were US$ 114,575 million, up US$ 1,975 million. SDRs stood at US$ 18,765 million and the Reserve Position in the IMF at US$ 4,826 million. Scheduled commercial bank aggregate deposits stood at Rs 2,60,02,106 crore as on 31 May 2026, with year-on-year growth of 12.2 per cent.

Exam takeaway: Forex reserves comprise foreign currency assets, gold, SDRs and the reserve position in the IMF.

Quick revision: India's forex reserves US$ 681.61 bn on 5 June 2026 (RBI WSS).

Banking and RBI

RBI restricts Mogaveera Co-operative Bank under Section 35A; withdrawal cap Rs 1 lakh

12 June 2026 | Reserve Bank of India

An RBI press release of 12 June 2026 says the RBI issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Mogaveera Co-operative Bank Ltd., Bombay, vide a directive dated 11 June 2026, effective from close of business on 12 June 2026.

Without RBI's prior written approval the bank cannot grant or renew loans, make investments or incur liabilities. Depositors may withdraw up to Rs 1,00,000 from savings, current or other accounts, and the bank may set off loans against deposits. The release says eligible depositors are entitled to deposit insurance claims up to the ceiling of Rs 5 lakh.

Exam takeaway: Section 35A lets RBI issue directions to banks in public interest; DICGC cover is Rs 5 lakh per depositor.

Quick revision: RBI directions on Mogaveera Co-op Bank: Rs 1 lakh withdrawal cap from 12 June 2026.

Banking and RBI

RBI amends FEMA regulations on mode of payment and reporting of non-debt instruments

13 June 2026 | Reserve Bank of India

The RBI issued Notification No. FEMA.395(4)/2026-RB on 13 June 2026, the Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2026, under Section 47 of FEMA, 1999. It amends the 2019 principal regulations (FEMA.395/2019-RB).

The amendment substitutes the provisions at Sl. No. III (Schedule III, investments by an individual person resident outside India) and Sl. No. X of regulation 3.1, and comes into force from the date of publication in the Official Gazette. The page is marked as a corrigendum; only the portion read is reported here.

Exam takeaway: FEMA regulations are made by the RBI under the Foreign Exchange Management Act, 1999.

Quick revision: RBI FEMA amendment on mode of payment for non-debt instruments, 13 June 2026.

Banking and RBI

RBI amends NBFC Undertaking of Financial Services directions on agency business

15 June 2026 | Reserve Bank of India

The RBI issued the Non-Banking Financial Companies (Undertaking of Financial Services) Second Amendment Directions, 2026 on 15 June 2026 (RBI/DoR/2026-27/131), amending the 2025 Master Direction. The notification says the extant regulations governing agency business were reviewed and a revised framework is provided.

It also says the regulatory instructions on customer service and conduct aspects will be consolidated in the RBI (NBFC - Responsible Business Conduct) Directions, 2025. Only the opening portion of the notification was read for this edition.

Exam takeaway: NBFC agency business means acting as agent for other financial service providers.

Quick revision: RBI: NBFC agency business framework revised, 15 June 2026.

Banking and RBI

RBI: premature redemption price for SGB 2020-21 Series III; 7-day VRR auction announced

15 June 2026 | Reserve Bank of India

An RBI press release of 15 June 2026 fixes the premature redemption price of SGB 2020-21 Series III (issued 16 June 2020), due on 16 June 2026, at Rs 14,774 per unit, based on the simple average of IBJA closing gold prices of 11, 12 and 15 June 2026.

Separately, the RBI announced a 7-day Variable Rate Repo auction under the LAF for 16 June 2026 with a notified amount of Rs 1,50,000 crore, with reversal on 23 June 2026.

Exam takeaway: VRR auctions let RBI adjust short-term liquidity.

Quick revision: SGB 2020-21 Series III price Rs 14,774; 7-day VRR Rs 1.5 lakh crore announced for 16 June.

Banking and RBI

RBI revises agency business and referral rules for commercial banks, effective 1 January 2027 (notified 15 June 2026)

15 June 2026 | Reserve Bank of India

This item is carried forward from 15 June 2026. The RBI issued the Commercial Banks (Undertaking of Financial Services) Third Amendment Directions, 2026 (RBI/DoR/2026-27/125) under Section 35A of the Banking Regulation Act, 1949. It says the regulations on agency business and referral services were reviewed and a revised framework is provided.

The Directions come into effect on 1 January 2027, and customer service and conduct instructions will be consolidated in the Commercial Banks (Responsible Business Conduct) Directions, 2025. The Economic Times and The Times of India reported on 16 June 2026 that the RBI put curbs on banks' sale of third-party products and issued stricter norms against mis-selling.

Exam takeaway: Mis-selling norms govern how banks market third-party financial products.

Quick revision: RBI revised agency business and referral rules for banks, effective 1 Jan 2027.

Banking and RBI

RBI issues comprehensive instructions on advertising, marketing and sale of financial products by NBFCs (notified 15 June 2026)

15 June 2026 | Reserve Bank of India

This item is carried forward from 15 June 2026. The RBI issued the NBFC (Responsible Business Conduct) Second Amendment Directions, 2026 (RBI/2026-27/123) to issue comprehensive instructions on advertising, marketing and sale of financial products and services, replacing earlier suitability instructions given in the Undertaking of Financial Services Directions, 2025.

The instructions apply to all NBFCs except Core Investment Companies, NBFC-Account Aggregators, Non-Operative Financial Holding Companies and NBFCs without a customer interface. They are issued under Sections 45JA, 45L and 45M of the RBI Act, 1934.

Exam takeaway: Customer appropriateness and suitability are core conduct principles for selling financial products.

Quick revision: RBI: NBFC advertising, marketing and sale norms, 15 June 2026.

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.

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).

Banking and RBI

RBI cancels licence of Shree Mahalaxmi Urban Co-operative Credit Bank, Gokak, Karnataka

18 June 2026 | Reserve Bank of India

The RBI, by an order dated 16 June 2026, cancelled the licence of Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak, Karnataka, under Section 22 read with Section 56 of the Banking Regulation Act, 1949. The bank ceases to carry on banking business from the close of business on 18 June 2026. The Registrar of Co-operative Societies, Karnataka has been requested to order winding up and appoint a liquidator.

The Economic Times reported that the bank's financial condition had deteriorated and that about 97.9 per cent of depositors are expected to receive their full deposits from DICGC on liquidation.

Exam takeaway: RBI can cancel a bank's licence under Section 22 of the BR Act; DICGC insures deposits up to Rs 5 lakh.

Quick revision: RBI cancels licence of Shree Mahalaxmi UCCB, Gokak; closure from 18 June 2026.

Banking and RBI

RBI imposes Rs 1.50 lakh penalty on Chitradurga District Co-operative Central Bank for KYC non-compliance

18 June 2026 | Reserve Bank of India

An RBI press release of 18 June 2026 says the RBI, by an order dated 15 June 2026, imposed a monetary penalty of Rs 1.50 lakh on The Chitradurga District Co-operative Central Bank Ltd., Karnataka, for contravening Section 20 read with Section 56 of the Banking Regulation Act, 1949 and not complying with RBI directions on Know Your Customer (KYC).

The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act. NABARD conducted the statutory inspection with reference to the bank's financial position as on 31 March 2025.

Exam takeaway: RBI penalties are regulatory and do not by themselves affect the validity of transactions.

Quick revision: RBI penalty Rs 1.50 lakh on Chitradurga DCCB, 18 June 2026.

Banking and RBI

RBI announces 3-day VRR auction of Rs 1,00,000 crore for 19 June 2026

18 June 2026 | Reserve Bank of India

The RBI announced on 18 June 2026 that, on a review of liquidity conditions, it would conduct a 3-day Variable Rate Repo (VRR) auction under the LAF on Friday, 19 June 2026, for a notified amount of Rs 1,00,000 crore, with reversal on 22 June 2026.

The RBI also announced an underwriting auction on 19 June for government securities worth Rs 32,000 crore (6.03% GS 2029, 6.68% GS 2033, 7.24% GS 2055 and 7.50% GOI SGrB 2056).

Exam takeaway: VRR is a variable rate repo through which RBI injects liquidity for a set tenor.

Quick revision: RBI 3-day VRR Rs 1 lakh crore announced for 19 June 2026.

Banking and RBI

Forex reserves fall to US$ 671.63 billion as on 12 June 2026

20 June 2026 | Reserve Bank of India

The RBI's Weekly Statistical Supplement extract released on 19 June 2026 shows total foreign exchange reserves at US$ 671,625 million (Rs 63,88,464 crore) as on 12 June 2026, a fall of US$ 9,985 million over the week.

Foreign currency assets were US$ 544,290 million, up US$ 846 million over the week; the fall in total reserves is therefore mainly from gold, which stood at US$ 103,821 million (Rs 9,87,517 crore). The RBI also announced an overnight VRR auction of Rs 1,25,000 crore for 22 June 2026, with reversal on 23 June.

Exam takeaway: Reserves change with RBI forex operations and valuation changes in gold and currencies.

Quick revision: Forex reserves US$ 671.63 bn on 12 June 2026, down US$ 9.99 bn (RBI WSS).

Banking and RBI

RBI issues revised Lead Bank Scheme guidelines (issued 19 June 2026)

19 June 2026 | Reserve Bank of India and Business Standard

This item is carried forward from 19 June 2026. The RBI circular RBI/2026-27/150 on the Lead Bank Scheme says a comprehensive review of the Scheme was undertaken and the enclosed revised guidelines supersede all earlier RBI instructions on the subject. They cover Lead Bank, Lead District Manager, SLBC, Block Level Bankers' Committee, District Consultative Committee, District Level Review Committee, credit planning and CD ratio monitoring.

Business Standard reported that the revised framework formalises block-level credit planning, strengthens Lead District Manager offices and requires every lead bank to appoint a Lead District Manager exclusively for each district under its charge.

Exam takeaway: The Lead Bank Scheme coordinates banking and credit planning at district level.

Quick revision: RBI revised Lead Bank Scheme guidelines, 19 June 2026.

Banking and RBI

RBI issues final TReDS Directions, 2026

23 June 2026 | Reserve Bank of India

The RBI on 23 June 2026 issued the Reserve Bank of India (Trade Receivables Discounting System) Directions, 2026, after placing draft directions in the public domain on 8 April 2026.

The draft proposed rationalising and harmonising the TReDS framework, removing the requirement of due diligence for MSME sellers, and revising capital requirements for TReDS operators. Feedback was incorporated in the final Directions, which come into effect immediately unless indicated otherwise.

Exam takeaway: TReDS is an electronic platform where MSME receivables are discounted by financiers.

Quick revision: RBI issues final TReDS Directions, 2026 on 23 June.

Banking and RBI

RBI: 7-day VRR auction of Rs 2,00,000 crore draws bids of Rs 1,41,171 crore at 5.26%

23 June 2026 | Reserve Bank of India

The RBI's result for the 7-day Variable Rate Repo auction held on 23 June 2026 shows a notified amount of Rs 2,00,000 crore, total bids received of Rs 1,41,171 crore, all allotted, at a cut-off rate and weighted average rate of 5.26 per cent.

Separately, the RBI announced that the Government of India will buy back securities through auction for an aggregate Rs 30,000 crore (face value): 7.33% GS 2026, 5.74% GS 2026, 8.15% GS 2026 and 8.24% GS 2027. Offers are due on 29 June 2026, with settlement on 30 June.

Exam takeaway: A bond buyback retires government securities before maturity using surplus cash.

Quick revision: 7-day VRR Rs 1,41,171 crore allotted at 5.26% (RBI, 23 June 2026).

Banking and RBI

RBI revises NBFC-Upper Layer identification: Rs 1,00,000 crore asset threshold

24 June 2026 | Reserve Bank of India

The RBI on 24 June 2026 issued Amendment Directions on the review of the methodology for identifying NBFCs in the Upper Layer (NBFC-UL) and on inclusion of Government-owned NBFCs. The draft, issued on 10 April 2026 with comments till 4 May, proposed replacing the existing methodology with a transparent, simple and absolute criterion: asset size of Rs 1,00,000 crore and above.

The draft also proposed considering eligible Government-owned NBFCs for the NBFC-UL list on the revised criterion, and allowing all NBFC-UL to use State Government guarantees as a credit risk transfer instrument without limit, subject to conditions. The RBI also dealt with the draft circular on credit and investment concentration norms for Government-owned NBFCs. The final text beyond the opening part was not read.

Exam takeaway: NBFC-UL is the Upper Layer of the Scale Based Regulation framework for NBFCs.

Quick revision: RBI NBFC-UL directions: Rs 1,00,000 crore asset criterion (draft, finalised 24 June).

Banking and RBI

RBI issues final Net Open Position directions for forex risk capital charge

24 June 2026 | Reserve Bank of India

The RBI on 24 June 2026 issued final Amendment Directions on 'Net Open Position - Revised Instructions', after draft directions of 14 January 2026 (comments till 3 February).

The draft proposed doing away with separate offshore and onshore NOP calculation, including accumulated surplus of overseas operations in NOP, keeping the forex risk capital charge on the actual NOP, modifying the Shorthand method in line with Basel guidelines (treating gold open position separately) and exempting certain structural forex positions. Feedback was examined and modifications incorporated into the final directions.

Exam takeaway: NOP is a bank's net exposure to foreign currencies; capital is held against forex risk.

Quick revision: RBI final NOP directions, 24 June 2026.

Banking and RBI

RBI issues final directions on limiting customer liability in digital transactions, effective 1 January 2027

24 June 2026 | Reserve Bank of India

The RBI on 24 June 2026 issued Amendment Directions on the review of the framework of limiting customer liability in digital transactions, effective from 1 January 2027. Draft directions of 6 March 2026 followed the 6 February 2026 policy statement.

The draft proposed to extend the limited-liability instructions beyond unauthorised electronic banking transactions to other categories of fraudulent electronic banking transactions, reduce the time banks take to process fraud complaints, and introduce a compensation mechanism for small value fraudulent electronic banking transactions. Feedback was examined and changes incorporated; the final details were not read in full.

Exam takeaway: Zero or limited customer liability depends on prompt reporting by the customer.

Quick revision: RBI customer liability directions for digital fraud, effective 1 Jan 2027.

Banking and RBI

RBI releases draft Master Direction on secondary market transactions in G-Secs; T-bill calendar for July-September

25 June 2026 | Reserve Bank of India

The RBI on 25 June 2026 released the draft Master Direction - Reserve Bank of India (Secondary Market Transactions in Government Securities) Directions, 2026, inviting comments from banks, market participants and investors by 17 July 2026.

The RBI also released the Treasury Bills auction calendar for July-September 2026. The first auction is on 1 July 2026 (issue 2 July) for Rs 24,000 crore in total: Rs 9,000 crore of 91-day, Rs 8,000 crore of 182-day and Rs 7,000 crore of 364-day bills, with the same notified amounts shown for the following weekly auctions read.

Exam takeaway: Treasury Bills are short-term government securities of 91, 182 and 364 days.

Quick revision: RBI draft G-Sec secondary market Master Direction and T-bill calendar, 25 June 2026.

Banking and RBI

Forex reserves at US$ 672.59 billion as on 19 June 2026

26 June 2026 | Reserve Bank of India

The RBI's Weekly Statistical Supplement of 26 June 2026 shows total foreign exchange reserves at US$ 672,587 million (Rs 63,46,007 crore) as on 19 June 2026, up US$ 963 million over the week, but down US$ 18,520 million from end-March 2026.

Foreign currency assets were US$ 541,217 million (down US$ 3,072 million over the week) and gold US$ 107,930 million (up US$ 4,110 million). SDRs stood at US$ 18,647 million and the Reserve Position in the IMF at US$ 4,793 million.

Exam takeaway: The weekly rise came from gold valuation, while foreign currency assets fell.

Quick revision: India's forex reserves US$ 672.59 bn on 19 June 2026 (RBI WSS).

Banking and RBI

RBI issues final Credit Derivatives Directions, 2026 (press release of 25 June 2026)

25 June 2026 | Taxmann

This item is carried forward from 25 June 2026 and attributed to Taxmann, as the RBI page was not read. Taxmann reports that the RBI issued the Master Direction on Reserve Bank of India (Credit Derivatives) Directions, 2026 (press release 2026-2027/550, dated 25 June 2026), pursuant to the Union Budget 2026-27 and the 6 February 2026 policy statement.

The final Directions, after draft directions of 6 February 2026, facilitate credit index derivatives and total return swaps on corporate bonds, expanding the credit derivatives market.

Exam takeaway: Credit derivatives let investors take or hedge credit exposure.

Quick revision: RBI final Credit Derivatives Directions, 2026 (25 June, per Taxmann).

Banking and RBI

RBI buyback auction of government securities: Rs 7,388.194 crore accepted

29 June 2026 | Reserve Bank of India

The RBI's result of the buyback auction of Government of India dated securities (29 June 2026) shows an aggregate amount of Rs 30,000 crore notified, Rs 7,694.224 crore offered by participants and Rs 7,388.194 crore accepted at face value.

The securities were 7.33% GS 2026, 5.74% GS 2026, 8.15% GS 2026 and 8.24% GS 2027. The largest acceptance was Rs 2,925.252 crore in the 8.15% GS 2026 and the cut-off price on 8.24% GS 2027 was Rs 101.61.

Exam takeaway: A buyback is the government retiring debt early using RBI auctions.

Quick revision: RBI buyback auction accepted Rs 7,388.194 crore (RBI, 29 June 2026).

Banking and RBI

RBI imposes monetary penalties on two co-operative banks

29 June 2026 | Reserve Bank of India

By orders dated 25 June 2026, the RBI imposed a monetary penalty of Rs 1.50 lakh on Sri Bharathi Co-operative Urban Bank Ltd, Hyderabad, for non-compliance with directions on loans and advances to directors and relatives and on small value loans for UCBs.

The RBI also imposed Rs 5 lakh on The Citizens Urban Cooperative Bank Ltd, Jalandhar, Punjab, for non-compliance with directions on exposure norms and the Comprehensive Cyber Security Framework for UCBs. Both penalties are under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

Exam takeaway: Penalties are regulatory actions and do not by themselves invalidate customer transactions.

Quick revision: RBI penalties: Rs 1.50 lakh Sri Bharathi UCB; Rs 5 lakh Citizens UCB (RBI, 29 June 2026).

Government 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.

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).

Government Schemes

Cabinet approves up to Rs 10,000 crore ATF Price Stabilisation support for Indian airlines

3 June 2026 | Press Information Bureau

PIB said the Union Cabinet on 3 June 2026 approved one-time budgetary support not exceeding Rs 10,000 crore for Oil Marketing Companies to provide ATF price stabilisation to Scheduled Indian Airlines for domestic and international operations, during the exceptional fuel price volatility from the West Asia crisis.

The support is an interest-free advance to OMCs, compensating them for losses when the Import Parity Price exceeds the benchmark price under the approved mechanism. When international ATF prices moderate, the differential amount is to be recovered through a true-up mechanism.

Exam takeaway: ATF is Aviation Turbine Fuel, the jet fuel used by airlines.

Quick revision: Cabinet 3 June 2026: ATF Price Stabilisation support up to Rs 10,000 crore via OMCs (PIB).

Government Schemes

Cabinet approves Khagaria-Purnea NH-31/231 four-laning in Bihar at Rs 3,936.05 crore

3 June 2026 | Press Information Bureau

PIB said the CCEA on 3 June 2026 approved upgradation of the Khagaria-Purnea section of NH-31 and NH-231 to four lanes (143.529 km) in Bihar on BOT (Toll) mode at a cost of Rs 3,936.05 crore, including a 6.729 km extended greenfield bypass of Purnea city.

The release says the project will raise average speeds, cut travel time to about two hours and improve road safety, and will connect five PM Gati-Shakti Economic Nodes.

Exam takeaway: BOT (Toll) lets a private developer build and operate a road, recovering costs through tolls.

Quick revision: Cabinet 3 June 2026: Khagaria-Purnea four-laning, Rs 3,936.05 crore, BOT (Toll) (PIB).

Government Schemes

PIB: Indian households pay among the lowest LPG prices; Ujjwala households get Rs 300 per cylinder

7 June 2026 | Press Information Bureau

PIB said on 7 June 2026 that an Indian household buys cooking gas cheaper than households in neighbouring countries and in the United States, Australia and Canada. A Pradhan Mantri Ujjwala Yojana (PMUY) beneficiary pays an effective Rs 642 for a 14.2 kg cylinder, and a general consumer in Delhi pays Rs 942, against a cost to supply that has risen to over Rs 1,600.

Ujjwala households receive Rs 300 per cylinder on the first four refills each year, which is Rs 1,200 per beneficiary per year. The release states an under-recovery of about Rs 700 on each domestic cylinder, against a Saudi CP for LPG that has risen by about 46 per cent since February, and that India kept its energy cargoes moving through the Strait of Hormuz with no shortage of any petroleum product.

Exam takeaway: PMUY gives LPG connections to women from poor households; the PIB release states the yearly targeted support per beneficiary.

Quick revision: PIB 7 June 2026: Ujjwala effective price Rs 642; Rs 300 on first four refills a year.

Government Schemes

PM highlights 12 years of health sector change: Ayushman Bharat, Jan Aushadhi, affordable stents

14 June 2026 | Press Information Bureau

PIB said on 14 June 2026 that the Prime Minister stated that over the last 12 years India has worked to make quality healthcare more affordable and accessible. He described Ayushman Bharat as the world's largest healthcare programme providing top-quality healthcare to the most vulnerable.

He pointed to the PM Bharatiya Jan Aushadhi Pariyojana making medicines affordable, lower prices of stents and knee implants, and more medical institutions and seats making medical education accessible.

Exam takeaway: Jan Aushadhi stores sell generic medicines at lower prices.

Quick revision: PM on health sector: Ayushman Bharat, Jan Aushadhi, cheaper stents (PIB, 14 June 2026).

Government Schemes

PM disburses about Rs 2,400 crore under PM Viksit Bharat Rozgar Yojana (PM-VBRY)

19 June 2026 | Press Information Bureau

PIB said that on 19 June 2026 Prime Minister Narendra Modi disbursed approximately Rs 2,400 crore in incentives through Direct Benefit Transfer, in the main event at Vigyan Bhawan, New Delhi, to mark the implementation of the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), run by the Ministry of Labour and Employment.

The release says the initiative is set to formalise and secure employment for over 15 lakh persons. Karnataka hosted regional events at 24 venues. An earlier PIB note (18 June) had said first-time employees receive an incentive of up to Rs 15,000, with events at about 200 locations.

Exam takeaway: PM-VBRY gives employment-linked incentives, paid through DBT.

Quick revision: PM-VBRY: about Rs 2,400 crore disbursed on 19 June 2026 (PIB).

Government Schemes

VB-G RAM G rollout: 100+ Area Officers, Rs 95,692 crore central share ahead of 1 July 2026

19 June 2026 | Press Information Bureau

PIB said the Ministry of Rural Development will deploy more than 100 Area Officers to support States and UTs ahead of the VB-G RAM G Act, 2025 coming into force on 1 July 2026. The officers will act as facilitators and resource persons during the rollout.

The release headline states that 27 States/UTs have made budgetary provisions and Rs 95,692 crore has been allocated as Central Share.

Exam takeaway: VB-G RAM G is the rural employment law that replaces the earlier MGNREGS from 1 July 2026, as covered in earlier editions.

Quick revision: VB-G RAM G rollout: 100+ Area Officers, Rs 95,692 crore central share (PIB, 19 June).

Government Schemes

Health Ministry bans 16 irrational Fixed Dose Combinations under Section 26A

20 June 2026 | Press Information Bureau

PIB said the Ministry of Health and Family Welfare issued notifications under Section 26A of the Drugs and Cosmetics Act, 1940, prohibiting manufacture for sale, sale and distribution for human use of 16 Fixed Dose Combinations (FDCs), with immediate effect.

The decision follows Supreme Court directions for a comprehensive FDC review. The Drugs Technical Advisory Board's Expert Committee found these FDCs lacked therapeutic justification and posed risks not justified by benefit.

Exam takeaway: An FDC combines two or more active drugs in a fixed ratio in one dosage form.

Quick revision: 16 FDCs banned under Section 26A, 20 June 2026 (PIB).

Government Schemes

DICV joins Delhi-NCR old trucks and buses replacement scheme: 8% discount

23 June 2026 | Press Information Bureau

PIB said an MoU was signed on 23 June 2026 between the Ministry of Road Transport and Highways and Daimler India Commercial Vehicles (DICV, Bharat Benz) under the Centre's scheme for replacement of old trucks and buses in the Delhi-NCR region. The OEM will give an 8 per cent discount on the ex-showroom price of eligible vehicles.

Besides the OEM discount, the Central Government will provide 5 per cent interest subvention and fixed monthly fuel vouchers for five years. Participating State Governments will give up to 100 per cent concession on motor vehicle tax for ten years and waive registration fees.

Exam takeaway: The scheme was approved by the Cabinet on 3 June 2026 (see 3 June edition) and OEMs join through MoUs.

Quick revision: DICV joins Delhi-NCR vehicle replacement scheme with 8% discount (PIB, 23 June).

Government Schemes

Jan Vishwas Act, 2026: reforms operationalised for Drugs and Cosmetics Act and FSS Act

26 June 2026 | Press Information Bureau

PIB said the Government operationalised key reforms under the Jan Vishwas Act, 2026 relating to the Drugs and Cosmetics Act, 1940 and the Food Safety and Standards Act, 2006, to enhance trust-based governance, reduce compliance burden and ensure proportionate enforcement. Certain minor and technical violations are decriminalised and criminal proceedings replaced with administrative penalties.

Section 29 of the Drugs and Cosmetics Act, 1940, which prescribed a penalty of up to Rs 1 lakh for using a Government Analyst's report in advertising a drug or cosmetic, has been omitted. Violations on low-risk cosmetics, such as minor quality failures or labelling errors, come under an administrative penalty framework, while offences involving spurious or adulterated cosmetics remain stringently covered.

Exam takeaway: Jan Vishwas laws decriminalise minor offences to improve ease of doing business.

Quick revision: Jan Vishwas Act, 2026 reforms operationalised for D&C and FSS Acts (PIB, 26 June).

Government Schemes

Digital India completes 11 years: Rs 1.64 lakh crore approved across 12 semiconductor projects

27 June 2026 | Press Information Bureau

A PIB feature of 27 June 2026 notes that Digital India, launched on 1 July 2015, completes eleven years. Its headline points are Rs 1.64 lakh crore investment approved across 12 semiconductor projects, electronics as India's third-largest export category, a shared compute facility with over 45,000 GPUs, and startup employment at 23.36 lakh.

The feature states that internet connections have grown about four times and that the cost of mobile data has fallen from Rs 269 per GB to Rs 8-10.

Exam takeaway: Digital India is the flagship programme to make India a digitally empowered society and knowledge economy.

Quick revision: Digital India at 11 years: 12 semiconductor projects, 45,000+ GPUs (PIB feature, 27 June 2026).

Appointments, 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.

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).

Appointments, Awards and Important Days

Justice Meenakshi Madan Rai appointed Chief Justice of Patna High Court

2 June 2026 | Press Information Bureau

PIB said the President, in consultation with the Chief Justice of India, appointed Justice Meenakshi Madan Rai, a Judge of the Sikkim High Court, as Chief Justice of the Patna High Court with effect from 5 June 2026, following the retirement of Justice Sangam Kumar Sahoo on 4 June 2026.

Exam takeaway: High Court Chief Justices are appointed by the President in consultation with the Chief Justice of India.

Quick revision: Justice Meenakshi Madan Rai to be Chief Justice of Patna High Court from 5 June 2026 (PIB).

Appointments, Awards and Important Days

Neelkanth Mishra named India's Executive Director at the World Bank

4 June 2026 | The Economic Times and Akashvani News

The Economic Times reported on 4 June 2026 that economist Neelkanth Mishra was named India's Executive Director at the World Bank Group, succeeding Parameswaran Iyer, for a three-year term. He is a former part-time member of the Prime Minister's Economic Advisory Council and former chief economist at Axis Bank. The post also represents Bangladesh, Bhutan and Sri Lanka at the institution.

Akashvani News reported that the Appointments Committee of the Cabinet approved the appointment, with a tenure of three years, and that Parameswaran Iyer's tenure was extended until the new incumbent assumes charge.

Exam takeaway: Appointments to international financial institutions are cleared by the ACC.

Quick revision: Neelkanth Mishra named India's Executive Director at the World Bank (ET/Akashvani, 4-5 June 2026).

Appointments, Awards and Important Days

Mahesh Kumar Aggarwal takes charge as Tamil Nadu DGP (carried forward from 3 June 2026)

3 June 2026 | The Hindu

The Hindu reported on 3 June 2026 that Mahesh Kumar Aggarwal, a 1994-batch IPS officer, assumed charge as Tamil Nadu's Director General of Police and Head of Police Force, after a vacancy of nearly 10 months caused by litigation and postponements.

The New Indian Express reported that he succeeds DGP Sandeep Rai Rathore and will hold the post for two years.

Exam takeaway: The DGP is the head of a State police force.

Quick revision: Mahesh Kumar Aggarwal took charge as Tamil Nadu DGP on 3 June 2026 (The Hindu).

Appointments, Awards and Important Days

Swaminathan Janakiraman re-appointed RBI Deputy Governor for two years

5 June 2026 | The Indian Express

The Indian Express reported that the Centre re-appointed Swaminathan Janakiraman as Deputy Governor of the Reserve Bank of India for two years, as the central bank said on Friday, 5 June 2026. His term begins from 26 June.

He was first named Deputy Governor in June 2023; before that he was a managing director at State Bank of India.

Exam takeaway: RBI Deputy Governors are appointed by the Central Government.

Quick revision: Swaminathan J re-appointed RBI Deputy Governor for two years from 26 June (Indian Express).

Appointments, Awards and Important Days

G. S. Malik appointed Director General of Gujarat Police

6 June 2026 | The Indian Express

The Indian Express reported that Gyanender Singh Malik, a 1993-batch IPS officer, was appointed Director General of Gujarat Police on Saturday, 6 June 2026. He was Ahmedabad Police Commissioner, a post he took up in July 2023, and had led a drive to deport illegal Bangladeshi immigrants.

Before that he was Additional Director General of the CISF (north and airport sector) and earlier Inspector General of the BSF Gujarat frontier.

Exam takeaway: The DGP heads a State police force; appointments follow the Supreme Court's Prakash Singh guidelines.

Quick revision: G. S. Malik appointed Gujarat DGP on 6 June 2026 (Indian Express).

Appointments, Awards and Important Days

Sanjay Lohiya, DFS Secretary, nominated on the RBI Central Board

11 June 2026 | Reserve Bank of India

An RBI press release of 11 June 2026 says the Central Government nominated Shri Sanjay Lohiya, Secretary, Department of Financial Services, Ministry of Finance, as a Director on the Central Board of the Reserve Bank of India, in place of Shri Nagaraju Maddirala.

The nomination is effective from 11 June 2026 and until further orders.

Exam takeaway: Government nominee directors on the RBI Central Board are nominated by the Central Government.

Quick revision: Sanjay Lohiya nominated on RBI Central Board, 11 June 2026 (RBI).

Appointments, Awards and Important Days

Lt Gen Dhiraj Seth appointed next Chief of the Army Staff from 30 June 2026

13 June 2026 | Press Information Bureau

PIB said the Government appointed Lieutenant General Dhiraj Seth, presently Vice Chief of the Army Staff, as the next Chief of the Army Staff with effect from the afternoon of 30 June 2026. The present Chief, General Upendra Dwivedi, retires from service the same day.

Lt Gen Seth is an alumnus of the National Defence Academy, Khadakwasla, and was commissioned into the Armoured Corps in December 1986. As a Lieutenant General he commanded the Sudarshan Chakra Corps.

Exam takeaway: The Chief of the Army Staff is appointed by the Government of India.

Quick revision: Dhiraj Seth appointed next Army Chief from 30 June 2026 (PIB).

Appointments, 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.

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).

Appointments, Awards and Important Days

12th International Day of Yoga: theme 'Yoga for Healthy Ageing'; main event in Kolkata

21 June 2026 | Press Information Bureau

PIB said the 12th International Day of Yoga was observed on 21 June 2026 with the theme 'Yoga for Healthy Ageing', and that Kolkata hosted the main national celebration, addressed by Prime Minister Narendra Modi (PIB PRID 2275922 carries the English rendering of the address).

The UN proclaimed 21 June as the International Day of Yoga in 2014, on a proposal by PM Modi at the 69th UN General Assembly session that was supported by 175 member states. The first observance was held on 21 June 2015, and yoga was inscribed on UNESCO's Representative List of the Intangible Cultural Heritage of Humanity in 2016.

Exam takeaway: International Days are common exam topics: remember theme, year and host city.

Quick revision: 12th International Day of Yoga, 21 June 2026, theme 'Yoga for Healthy Ageing', Kolkata (PIB).

Appointments, Awards and Important Days

Mahesh Dixit appointed Director, Intelligence Bureau

25 June 2026 | The Hindu and The Indian Express

The Hindu reported on 25 June 2026 that Mahesh Dixit, a 1993-batch IPS officer of the Andhra Pradesh cadre, was appointed Director, Intelligence Bureau (DIB), succeeding Tapan Kumar Deka, who has held the post since 2022 and whose tenure ends on 30 June.

The Indian Express quoted the DoPT order: the Appointments Committee of the Cabinet approved Dixit, presently Special Director, Intelligence Bureau, as DIB for a tenure of two years from the date of assumption of charge.

Exam takeaway: The DIB heads India's domestic intelligence agency under the Ministry of Home Affairs.

Quick revision: Mahesh Dixit appointed DIB for two years (The Hindu, Indian Express, 25 June 2026).

Appointments, Awards and Important Days

UPSC invites applications for direct recruitment, Advertisement No. 07/2026

27 June 2026 | Press Information Bureau

PIB said the UPSC invites applications from eligible candidates for direct recruitment to various posts in the Government of India, as detailed in Advertisement No. 07/2026 on upsc.gov.in.

Candidates can apply through the Online Recruitment Application portal from 27 June 2026 to 17 July 2026.

Exam takeaway: Aspirants should read the detailed advertisement for posts and eligibility before applying.

Quick revision: UPSC Advt 07/2026: apply 27 June to 17 July 2026 (PIB).

Appointments, Awards and Important Days

General Dhiraj Seth takes over as 31st Chief of the Army Staff

30 June 2026 | Press Information Bureau

PIB reported that General Dhiraj Seth took over as the 31st Chief of the Army Staff (COAS) on 30 June 2026 from General Upendra Dwivedi, who superannuated on 30 June 2026 after more than four decades of service.

General Seth is an alumnus of the National Defence Academy, Khadakwasla, and was commissioned into the Armoured Corps in December 1986. As a Lieutenant General he commanded the Sudarshan Chakra Corps.

Exam takeaway: Appointments of service chiefs are regular static-GK questions.

Quick revision: Gen Dhiraj Seth became 31st Army Chief on 30 June 2026 (PIB).

Economy and Finance

Revised WPI with base year 2022-23 and new Producer Price Indices to be released on 15 June

2 June 2026 | Press Information Bureau

PIB said on 2 June 2026 that the revision of the WPI base year from 2011-12 to 2022-23 and the compilation of Producer Price Indices (PPIs) were approved by the competent authority on 25 May 2026. The Office of the Economic Adviser, DPIIT will release the revised WPI series on 15 June 2026 at 12 noon, replacing the 2011-12 series.

It will also release the new Output PPI, a trial Input PPI and a Service PPI covering seven services: banking, securities transaction, insurance, management of pension funds, railways, air passenger and telecom, all with base year 2022-23. Because WPI is widely used in price escalation clauses, it will be released for five years alongside the PPIs and then discontinued.

Exam takeaway: WPI measures wholesale price changes; PPI measures prices received by producers.

Quick revision: WPI base revised to 2022-23 from 15 June 2026; PPIs launched; WPI to run five more years (PIB, 2 June).

Economy and Finance

West Asia situation: government briefing on fuel supply, ATF fund and LPG deliveries

4 June 2026 | Press Information Bureau

PIB said that at a media briefing on 4 June 2026 officers of the Petroleum, Ports and Shipping, External Affairs and Civil Aviation ministries gave updates amid the evolving situation in West Asia. The Civil Aviation Ministry briefed on the ATF Price Stabilisation Fund approved by the Cabinet (up to Rs 10,000 crore, one-time).

The release states that all refineries are operating at high capacity with adequate crude inventories, and that stocks of petrol and diesel are sufficient across the country. About 1.43 crore domestic LPG cylinders were delivered against bookings of around 1.50 crore cylinders in the last three days.

Exam takeaway: Government briefings use PIB releases as the official record of such updates.

Quick revision: PIB 4 June 2026: refineries at high capacity; 1.43 crore LPG cylinders delivered in 3 days.

Economy and Finance

ECLGS 5.0 crosses 1 lakh guarantees: Rs 48,484.26 crore guaranteed

10 June 2026 | Press Information Bureau

PIB said ECLGS 5.0, approved by the Union Cabinet on 5 May 2026, had issued 1,06,549 guarantees worth Rs 48,484.26 crore as on 9 June 2026. About 96 per cent of guarantees by number and 86 per cent by amount belong to the MSME sector, and Public Sector Banks account for 96 per cent of guarantees.

The scheme gives 100 per cent guarantee cover to MSMEs and 90 per cent to non-MSMEs, and aims to infuse additional credit of Rs 2,55,000 crore to existing borrowers facing liquidity stress from the West Asia crisis.

Exam takeaway: ECLGS is a credit guarantee scheme run through NCGTC for lenders.

Quick revision: ECLGS 5.0: over 1 lakh guarantees, Rs 48,484.26 crore by 9 June 2026 (PIB).

Economy and Finance

SEBI Board reintroduces open-market buybacks via exchanges; green channel GARUDA for AIFs

19 June 2026 | The Hindu (PTI); SEBI press release listed

The Hindu (PTI) reported that the SEBI Board on Friday, 19 June 2026 approved proposals including reintroduction of open-market share buybacks through stock exchanges with a faster timeline, relaxation of intraday borrowing norms for mutual funds, and simpler securities transfer after an investor's death.

The Board also decided to set up a green-channel mechanism called GARUDA, allowing Alternative Investment Funds (AIFs) to begin fundraising within 10 working days of filing placement memorandums, against 30 days now, and approved measures to revive agricultural commodity derivatives trading. SEBI's own page 'Key decisions taken in the SEBI Board Meeting dated 19th June, 2026' exists, but only its title could be read for this edition.

Exam takeaway: SEBI Board decisions shape securities market regulation; AIFs are privately pooled investment vehicles.

Quick revision: SEBI Board 19 June 2026: buybacks via exchanges, GARUDA for AIFs (The Hindu/PTI).

Economy and Finance

Government announces Rs 28,000 crore dated securities auction for 25 June 2026

22 June 2026 | Reserve Bank of India

An RBI release of 22 June 2026 says the Government of India announced the sale (re-issue) of two dated securities for a notified amount of Rs 28,000 crore: 6.68% GS 2040 (Rs 17,000 crore, repayable 7 July 2040) and 7.43% GS 2076 (Rs 11,000 crore, repayable 19 January 2076).

The auction is on 25 June 2026 (Thursday) with settlement on 29 June, using the multiple price method. The Government may retain additional subscription of up to Rs 2,000 crore against each security. Bids are submitted on RBI's e-Kuber system.

Exam takeaway: RBI conducts government securities auctions as the debt manager of the Centre.

Quick revision: GoI dated securities auction Rs 28,000 crore on 25 June 2026 (RBI).

Economy and Finance

PFC and REC boards approve merger scheme; share exchange ratio 88:100

28 June 2026 | PFC stock exchange filing of 28 June 2026 (also reported by The Economic Times)

PFC's filing to the stock exchanges (outcome of Board meeting held on 28 June 2026) says its Board approved the scheme of merger by absorption of REC Ltd (transferor company) into Power Finance Corporation (transferee company) under Sections 230 to 232 of the Companies Act, 2013. REC would be dissolved without being wound up, and REC's eligible shareholders would receive PFC shares at 88 equity shares of PFC of Rs 10 each for every 100 equity shares of REC of Rs 10 each. The Economic Times reported that the boards of both companies approved the scheme on Sunday, 28 June 2026.

The scheme is a board approval and remains subject to regulatory and other approvals. The combined loan book of over Rs 11 lakh crore is from a PIB release of 30 June 2026 and the ET report, which came after the 28 June filing.

Exam takeaway: A merger of two power-sector financiers creates the largest power financier, a standard exam topic under mergers and PSU finance.

Quick revision: PFC-REC merger scheme approved by boards, 88:100 ratio (ET, 28 June 2026).

Economy and Finance

Cabinet approves additional Rs 30,000 crore for NIIF; total commitment Rs 60,000 crore

29 June 2026 | Press Information Bureau

PIB said on 29 June 2026 that the Union Cabinet, last week, approved an additional Government of India investment commitment of Rs 30,000 crore towards new and upcoming funds of the National Investment and Infrastructure Fund (NIIF). This takes the Government's total commitment to NIIF to Rs 60,000 crore.

NIIF is India's Sovereign Anchored Fund, managed by National Investment and Infrastructure Fund Limited (NIIFL). The Government of India is a 49% shareholder, and NIIF manages capital commitments of about Rs 40,000 crore and has returned close to Rs 12,000 crore to investors through portfolio exits. The Hindu reported that the new money will set up NIIF Infrastructure Fund II, the successor to its first flagship infrastructure fund.

Exam takeaway: NIIF is a sovereign-anchored fund for infrastructure investment.

Quick revision: Cabinet approves Rs 30,000 crore more for NIIF; total Rs 60,000 crore (PIB, 29 June 2026).

Economy and Finance

Nine years of GST: taxpayers rise from 66.5 lakh to 1.65 crore

30 June 2026 | Press Information Bureau

A PIB feature of 30 June 2026 marks nine years of GST, launched on 1 July 2017 under the principle 'One Nation, One Tax'. It says the number of GST taxpayers has increased from 66.5 lakh in 2017 to 1.65 crore in May 2026.

It adds that the Next-Generation GST reforms of 2025 simplified the structure through lower rates, exemptions and easier processes.

Exam takeaway: GST replaced fragmented central and state indirect taxes with an integrated framework.

Quick revision: Nine years of GST: 1.65 crore taxpayers in May 2026 (PIB, 30 June).

National and International Affairs

D. K. Shivakumar sworn in as the 25th Chief Minister of Karnataka

3 June 2026 | The Hindu

The Hindu reported that D. K. Shivakumar, Karnataka Pradesh Congress Committee President, was sworn in as the 25th Chief Minister of Karnataka on Wednesday, 3 June 2026 at the Glass House in Lok Bhavan, Bengaluru, taking over from Siddaramaiah. He was sworn in along with 13 Cabinet ministers.

G. Parameshwara, a senior Dalit leader from Koratgere, was sworn in as Deputy Chief Minister. India Today reported that Shivakumar took the oath holding a copy of the Constitution.

Exam takeaway: The Chief Minister is appointed by the Governor and heads the State's Council of Ministers.

Quick revision: D K Shivakumar sworn in as 25th Karnataka CM, 3 June 2026 (The Hindu).

National and International Affairs

PM chairs meeting of the Economic Advisory Council to the Prime Minister

6 June 2026 | Press Information Bureau

PIB said Prime Minister Narendra Modi chaired a meeting of the Economic Advisory Council to the Prime Minister (EAC-PM) on 6 June 2026. The Prime Minister said the Council deliberated on a wide range of issues relating to India's economic transformation and long-term development priorities.

He added that perspectives were shared on adding more momentum to the reforms journey and on ensuring 'Ease of Living' as well as 'Ease of Doing Business'.

Exam takeaway: EAC-PM is an advisory body that gives independent advice on economic issues to the Prime Minister.

Quick revision: PM Modi chaired EAC-PM meeting on 6 June 2026 (PIB).

National and International Affairs

Tripartite MoU signed by Centre, Assam and Nagaland for mineral oil operations in boundary areas

11 June 2026 | Press Information Bureau

PIB said a tripartite Memorandum of Understanding among the Government of India, Assam and Nagaland, to facilitate mineral oil operations in the Assam-Nagaland boundary areas, was signed in the presence of Home Minister and Minister of Cooperation Amit Shah on 11 June 2026.

The release quotes the Home Minister as saying the agreement will open a new economic corridor of energy and investment in the Northeast, that nearly 80 per cent of the Northeast has been freed from AFSPA, and that it is an example of cooperative federalism.

Exam takeaway: Cooperative federalism means the Centre and States working together on shared goals.

Quick revision: Centre, Assam and Nagaland sign MoU on mineral oil operations, 11 June 2026 (PIB).

National and International Affairs

PM Modi and President Macron inaugurate maiden Bharat Innovates in Nice

14 June 2026 | Press Information Bureau

PIB said Prime Minister Narendra Modi and French President Emmanuel Macron jointly inaugurated the maiden edition of Bharat Innovates 2026 at the Palais des Expositions de Nice, France, on 14 June 2026.

The event is organised by the Government of India as an initiative of the Union Ministry of Education, as a platform for innovation-led partnerships between India's deep tech innovators and global stakeholders. Commerce Minister Piyush Goyal welcomed the dignitaries; External Affairs Minister Dr S. Jaishankar, NSA Ajit Doval and Principal Scientific Adviser Dr Ajay Kumar Sood attended.

Exam takeaway: India-France ties are framed around deep tech and innovation partnerships in this event.

Quick revision: Bharat Innovates 2026 inaugurated in Nice by Modi and Macron on 14 June (PIB).

National and International Affairs

Government constitutes Search-cum-Selection Committee for National Sports Board

15 June 2026 | Press Information Bureau

PIB said the Union Government on 15 June 2026 constituted the Search-cum-Selection Committee for the National Sports Board under the National Sports Board (Search-cum-Selection Committee) Rules, 2026, framed under the National Sports Governance Act, 2025.

Cabinet Secretary Dr T. V. Somanathan chairs the five-member committee, with Sports Secretary Hari Ranjan Rao, Lt Gen (Retd) Harpal Singh of the IOA, and National Sports Awardees Gagan Narang and N. Kunjurani Devi. It will recommend names for the Chairperson and two Members of the Board.

Exam takeaway: The National Sports Board is to be the authority recognising National Sports Federations.

Quick revision: Search-cum-Selection Committee for National Sports Board constituted 15 June 2026 (PIB).

National and International Affairs

Kishau Multipurpose Project: six States agree to sign MoU at meeting chaired by Amit Shah

16 June 2026 | Press Information Bureau

PIB said that at a meeting in New Delhi on 16 June 2026 chaired by Home Minister Amit Shah, Himachal Pradesh, Uttarakhand, Delhi, Uttar Pradesh, Haryana and Rajasthan agreed to sign an MoU for implementing the Kishau Multipurpose Project. After the MoU is signed, the project will be placed before the Union Cabinet for approval.

For the Kishau dam, 90 per cent of the cost of the water component will be borne by the Centre as Central Assistance, and the remaining 10 per cent shared by the six participating states. Himachal Pradesh's share of water will be allocated to Delhi and Rajasthan in return for their sharing the cost of Himachal's portion of the power component.

Exam takeaway: Multipurpose projects serve water supply, irrigation and power together.

Quick revision: Six states agree on Kishau project MoU, 16 June 2026 (PIB).

National 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.

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).

National and International Affairs

President Murmu and PM Modi lay foundation of BCGCL Coal-to-Ammonium Nitrate Project in Odisha

20 June 2026 | Press Information Bureau

PIB said President Droupadi Murmu and Prime Minister Narendra Modi remotely laid the foundation stone of the Coal-to-Ammonium Nitrate Project of Bharat Coal Gasification & Chemicals Limited (BCGCL) on 20 June 2026 at Lakhanpur, Jharsuguda district, Odisha.

The project is a joint venture involving Coal India. The release describes it as a step towards energy security, technological self-reliance and sustainable use of domestic coal. Coal and Mines Minister G. Kishan Reddy briefed the press at the site.

Exam takeaway: Coal gasification converts coal into syngas used for chemicals and fertiliser inputs.

Quick revision: BCGCL coal-to-ammonium nitrate project foundation laid in Odisha, 20 June 2026 (PIB).

National and International Affairs

Amit Shah launches Bharat Taxi for Gujarat from Gandhinagar

27 June 2026 | Press Information Bureau

PIB said Union Home Minister and Minister of Cooperation Amit Shah launched Bharat Taxi for Gujarat from Gandhinagar on 27 June 2026, with services beginning in major cities including Ahmedabad, Surat and Rajkot across two-wheeler, auto and four-wheeler categories.

The release says more than 7 lakh 'Sarathis' are associated with Bharat Taxi, whose drivers are also its owners, in line with the 'Sahakar Se Samriddhi' mantra. It states that in the next two years Bharat Taxi will reach more than 500 cities and towns, and that before 31 July it will be available in 7 major cities.

Exam takeaway: Bharat Taxi is a cooperative model ride service under the Ministry of Cooperation's 'Sahakar Se Samriddhi' theme.

Quick revision: Amit Shah launched Bharat Taxi in Gujarat on 27 June 2026 (PIB).

Reports, Indices, Science and Technology

Report of the Committee on Datasets for State Finance Commissions released

8 June 2026 | Press Information Bureau

PIB said Chief Economic Advisor Dr V. Anantha Nageswaran released the Report of the Committee on Datasets for State Finance Commissions on 8 June 2026 in New Delhi, at an event of the Ministry of Panchayati Raj, in the presence of Secretary Vivek Bharadwaj.

In his keynote he said reliable, timely and granular data is essential for sound fiscal decisions and that State Finance Commissions can make sound recommendations only with access to such data. PIB's advance note stated that State Finance Commissions are constituted under Article 243-I of the Constitution to review the finances of Panchayati Raj Institutions and recommend principles for devolving funds to local governments.

Exam takeaway: State Finance Commissions are constitutional bodies under Article 243-I (Panchayats).

Quick revision: CEA released the Report on Datasets for State Finance Commissions on 8 June 2026 (PIB).

Reports, Indices, Science and Technology

National Biodiversity Authority reconstitutes Agrobiodiversity Expert Committee; Dr P. L. Gautam to chair

13 June 2026 | Press Information Bureau

PIB said the National Biodiversity Authority (NBA) reconstituted its Expert Committee on Agrobiodiversity under Section 13(1) of the Biological Diversity Act, 2002, for one year, to guide conservation, sustainable use and access and benefit-sharing of agricultural biodiversity.

Padma Shri Dr P. L. Gautam, former Chairperson of the NBA and of the PPVFRA, chairs the committee, and the PPVFRA Chairperson is Co-Chair. The committee has been an advisory body of the NBA since 2005.

Exam takeaway: NBA is a statutory body under the Biological Diversity Act, 2002.

Quick revision: NBA reconstitutes Agrobiodiversity committee; Dr P. L. Gautam Chair (PIB, 13 June 2026).

Reports, Indices, Science and Technology

RBI Bulletin June 2026: economy grew 7.8% in Q4 2025-26

22 June 2026 | Reserve Bank of India

The RBI released the June 2026 issue of its monthly Bulletin on 22 June 2026, with one speech, one article and current statistics. The article on the State of the Economy says geopolitical tensions and trade disruptions persisted despite the recent interim peace deal in West Asia.

It states that the Indian economy grew at 7.8 per cent in Q4 of 2025-26, supported by private consumption and fixed investment, that high-frequency indicators for the first two months suggest sustained momentum in 2026-27, and that CPI inflation remained anchored despite a pick-up in May. The external sector remained resilient, supported by FDI inflows and adequate forex reserves. The views are those of the authors, not the RBI.

Exam takeaway: The State of the Economy article in the RBI Bulletin is written by RBI staff and not an official RBI position.

Quick revision: RBI Bulletin June 2026: GDP grew 7.8% in Q4 2025-26.

Reports, Indices, Science and Technology

RBI releases Financial Stability Report, June 2026

30 June 2026 | Reserve Bank of India

The RBI released the June 2026 edition of the Financial Stability Report (FSR) on 30 June 2026 (Press Release 2026-2027/572). The FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the resilience of the Indian financial system.

Highlights: global financial stability risks remain elevated, with vulnerabilities including elevated public debt, bond market fragilities, stretched asset valuations and leveraged NBFIs. India's macroeconomic fundamentals provide greater resilience, and the balance of risks has turned favourable on the interim peace deal and recent policy measures. Scheduled commercial banks remain safe and sound, macro stress tests show capital ratios staying comfortably above regulatory thresholds, NBFCs are financially sound, and the solvency ratio of life insurers remains above the minimum threshold.

Exam takeaway: The FSR is released twice a year (June and December) by the RBI.

Quick revision: RBI FSR June 2026: banks, NBFCs resilient (RBI, 30 June).