Banking and RBI
Forex reserves fall to US$ 666.93 billion as on 26 June 2026
3 July 2026 | Reserve Bank of India
The RBI's Weekly Statistical Supplement of 3 July 2026 shows total foreign exchange reserves at US$ 666,933 million (Rs 62,94,507 crore) as on 26 June 2026, down US$ 5,654 million over the week.
Foreign currency assets were US$ 541,067 million (down US$ 150 million) and gold US$ 102,536 million (down US$ 5,394 million). SDRs stood at US$ 18,558 million and the Reserve Position in the IMF at US$ 4,772 million.
Key facts- Total reserves: US$ 666,933 mn (26 June), down US$ 5,654 mn
- Foreign currency assets: US$ 541,067 mn
- Gold: US$ 102,536 mn, down US$ 5,394 mn
- Reserve Position in IMF: US$ 4,772 mn
Exam takeaway: The weekly fall was mainly due to lower gold holdings.
Quick revision: Forex reserves US$ 666.93 bn on 26 June 2026 (RBI WSS).
Reserve Bank of India original sourceBanking and RBI
RBI imposes Rs 63.60 lakh penalty on Bank of Baroda
3 July 2026 | Reserve Bank of India
By an order dated 30 June 2026, the RBI imposed a monetary penalty of Rs 63.60 lakh on Bank of Baroda for non-compliance with provisions of directions on the Fair Practices Code for Lenders and Know Your Customer (KYC).
The penalty is under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949, after the Inspection for Supervisory Evaluation (ISE 2025) with reference to the bank's position as on 31 March 2025.
Key facts- Bank: Bank of Baroda
- Penalty: Rs 63.60 lakh
- Areas: Fair Practices Code for Lenders; KYC
- Order date: 30 June 2026
Exam takeaway: RBI penalties are regulatory actions on compliance gaps.
Quick revision: RBI penalises Bank of Baroda Rs 63.60 lakh (RBI, 3 July).
Reserve Bank of India original sourceNational and International Affairs
DAC accords AoN for proposals worth about Rs 52,000 crore
3 July 2026 | Press Information Bureau
PIB said the Defence Acquisition Council (DAC), chaired by Raksha Mantri Rajnath Singh, on 3 July 2026 accorded Acceptance of Necessity (AoN), an in-principle administrative approval, to acquisition proposals worth about Rs 52,000 crore.
For the Army, approvals cover the anti-UAV electronic warfare system AKASH TARANG, Man Portable Anti-Tank Guided Missile systems, the MRSAM weapon system, V-SHORADS, an Active Protection System for tanks and a jet-based kamikaze drone system.
Key facts- Body: Defence Acquisition Council, chaired by Rajnath Singh
- Value: about Rs 52,000 crore
- Approval type: Acceptance of Necessity (AoN)
- Army items include AKASH TARANG anti-UAV EW system
Exam takeaway: AoN is the first formal step in the defence procurement process.
Quick revision: DAC AoN for about Rs 52,000 crore (PIB, 3 July 2026).
Press Information Bureau original source