Banking and RBI
RBI announces overnight VRR auction of Rs 25,000 crore on 8 July 2026
7 July 2026 | Reserve Bank of India
The RBI said it would conduct an overnight Variable Rate Repo (VRR) auction on Wednesday, 8 July 2026, for a notified amount of Rs 25,000 crore with a tenor of 1 day, reversal on 9 July 2026, in the window 9:30 AM to 10:00 AM.
The guidelines are the same as in the RBI press release of 20 January 2022.
Key facts- Notified amount: Rs 25,000 crore
- Tenor: 1 day
- Auction date announced: 8 July 2026
- Reversal: 9 July 2026
Exam takeaway: VRR auctions adjust short-term liquidity.
Quick revision: Overnight VRR of Rs 25,000 crore announced for 8 July (RBI, 7 July 2026).
Reserve Bank of India original sourceEconomy and Finance
NPS: Aggressive and Balanced Life Cycle Funds extended to Central Autonomous Body employees
7 July 2026 | Press Information Bureau
PIB said the Government extended two additional investment choices under the National Pension System (NPS) to employees of Central Autonomous Bodies (CABs) covered under NPS, through a Department of Expenditure memorandum extending the Department of Financial Services notification of 13 November 2025.
The options are the Aggressive Life Cycle Fund (LC-75), now named LC-75-High, and the Balanced Life Cycle Fund (BLC), which were earlier introduced for Central Government employees under NPS.
Key facts- Extended to: employees of Central Autonomous Bodies under NPS
- Options: LC-75 (now LC-75-High) and Balanced Life Cycle Fund
- Based on: DFS notification of 13 November 2025
- Issued by: Department of Expenditure
Exam takeaway: NPS is the contributory pension system for government employees.
Quick revision: NPS additional life cycle funds extended to CAB employees (PIB, 7 July 2026).
Press Information Bureau original sourceGovernment Schemes
ECLGS 5.0 crosses 4.11 lakh guarantees worth Rs 1,55,229 crore
7 July 2026 | Press Information Bureau
PIB said that under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, approved by the Union Cabinet on 5 May 2026 to support businesses affected by the West Asia geopolitical situation, 4,11,497 guarantees have been issued, with a guaranteed amount of Rs 1,55,229 crore.
The scheme gives 100 per cent guarantee coverage to additional loans of MSMEs and 90 per cent to other business segments. PIB states that 98 per cent of guarantees by number benefit MSMEs.
Key facts- Guarantees issued: 4,11,497
- Guaranteed amount: Rs 1,55,229 crore
- Coverage: 100% for MSME additional loans, 90% for others
- Approved by Cabinet: 5 May 2026
Exam takeaway: ECLGS gives lenders a government guarantee on additional credit.
Quick revision: ECLGS 5.0: 4.11 lakh guarantees, Rs 1,55,229 crore (PIB, 7 July 2026).
Press Information Bureau original source