Banking and RBI
RBI appoints Ravi Shankar as Executive Director
1 July 2026 | Reserve Bank of India
The RBI appointed Shri Ravi Shankar as Executive Director (ED) with effect from 1 July 2026. He was earlier Adviser-in-Charge of the Department of Statistics and Information Management.
As ED he will look after the Department of Statistics and Information Management. The RBI release says he has over three decades of experience in the Bank, including banking statistics, the government securities market, settlement systems and debt management.
Key facts- Appointment: Ravi Shankar as Executive Director, RBI
- Effective: 1 July 2026
- Portfolio: Department of Statistics and Information Management
- Experience: over three decades at the RBI
Exam takeaway: RBI appointments are frequent static-GK questions.
Quick revision: Ravi Shankar appointed RBI Executive Director from 1 July 2026 (RBI).
Reserve Bank of India original sourceBanking and RBI
FRSB 2020 (Taxable) interest rate stays at 8.05% for July to December 2026
1 July 2026 | Reserve Bank of India
The RBI announced that the coupon rate on the Floating Rate Savings Bond, 2020 (Taxable), FRSB 2020(T), for 1 July to 31 December 2026, payable on 1 January 2027, remains at 8.05% (7.70% plus 0.35%), unchanged from the previous half-year.
The rate is reset half-yearly at a spread of 35 basis points over the prevailing National Savings Certificate (NSC) rate.
Key facts- Bond: FRSB 2020 (Taxable)
- Coupon: 8.05% (7.70% + 0.35%)
- Period: 1 July to 31 December 2026
- Reset: half-yearly, NSC rate plus 35 bps
Exam takeaway: Floating rate bonds reset their coupon periodically against a benchmark.
Quick revision: FRSB 2020(T) coupon unchanged at 8.05% for H2 2026 (RBI).
Reserve Bank of India original sourceEconomy and Finance
Cabinet approves Rs 7,145.14 crore Kanpur-Kabrai access-controlled highway
1 July 2026 | Press Information Bureau
PIB said the Cabinet Committee on Economic Affairs, chaired by the Prime Minister, approved on 1 July 2026 the construction of the 117.7 km Kanpur-Kabrai access-controlled greenfield highway, a four-lane corridor designed for future six-laning, at a total capital cost of Rs 7,145.14 crore.
It is a key segment of the Bhopal-Kanpur Economic Corridor under the National Highways (O) Programme. NHAI will implement it on BOT (Toll) mode, together with operation and maintenance of the existing Kanpur-Kabrai section of NH-34.
Key facts- Length: 117.7 km, four-lane, designed for six-laning
- Capital cost: Rs 7,145.14 crore
- Mode: BOT (Toll), by NHAI
- Corridor: Bhopal-Kanpur Economic Corridor
Exam takeaway: BOT (Toll) means the developer builds, operates and collects toll for a period.
Quick revision: Cabinet approves Kanpur-Kabrai highway, Rs 7,145.14 crore (PIB, 1 July 2026).
Press Information Bureau original sourceGovernment Schemes
VB-G RAM G Act, 2025 comes into force across the country
1 July 2026 | Press Information Bureau
PIB said the Viksit Bharat - Guarantee for Rozgar and Aajeevika Mission (Gramin) [VB-G RAM G] Act, 2025 came into force across the country on 1 July 2026. Eligible rural households now have a statutory entitlement to 125 days of guaranteed wage employment.
Revised wage rates were notified: no notified daily wage is below Rs 300 and the national average notified wage rose from Rs 298.8 to Rs 327.4 per day, an increase of over 10 per cent. An interim allocation of Rs 95,692.31 crore has been released to States and UTs. The national launch is to be held in Tirupati, Andhra Pradesh on 2 July.
Key facts- Act in force: 1 July 2026
- Guaranteed employment: 125 days per eligible rural household
- Average notified wage: Rs 298.8 to Rs 327.4 per day
- Interim allocation: Rs 95,692.31 crore
Exam takeaway: VB-G RAM G is the statutory rural employment guarantee under the Act of 2025.
Quick revision: VB-G RAM G Act in force from 1 July 2026: 125 days, minimum wage Rs 300 (PIB).
Press Information Bureau original source