Banking and RBI
RBI overnight VRR auction on 8 July 2026: Rs 665 crore bids against Rs 25,000 crore
8 July 2026 | Reserve Bank of India
The RBI result of the overnight Variable Rate Repo (VRR) auction held on 8 July 2026 shows a notified amount of Rs 25,000 crore, total bids received of Rs 665 crore and an amount allotted of Rs 665 crore.
The cut-off rate and weighted average rate were both 5.26 per cent for the 1-day tenor.
Key facts- Notified amount: Rs 25,000 crore
- Bids received: Rs 665 crore
- Amount allotted: Rs 665 crore
- Cut-off rate: 5.26%
Exam takeaway: Low VRR bids suggest limited demand for overnight liquidity.
Quick revision: Overnight VRR 8 July 2026: bids Rs 665 crore, cut-off 5.26% (RBI).
Reserve Bank of India original sourceGovernment Schemes
Ministry of Coal invites applications under Rs 37,500 crore coal gasification scheme
8 July 2026 | Press Information Bureau
PIB said the Ministry of Coal is inviting applications under the Scheme for Promotion of Surface Coal/Lignite Gasification Projects, approved on 13 May 2026 with a total financial outlay of Rs 37,500 crore. Scheme Guidelines were issued on 25 June 2026 and the Request for Proposal was published on 7 July 2026.
A Pre-Application Conference is to be held on 20 July 2026, and the last date for submission of applications is 7 September 2026.
Key facts- Scheme outlay: Rs 37,500 crore
- Guidelines issued: 25 June 2026; RFP: 7 July 2026
- Pre-Application Conference scheduled: 20 July 2026
- Last date for applications: 7 September 2026
Exam takeaway: The scheme aims to reduce import dependence in energy and chemicals.
Quick revision: Coal gasification scheme (Rs 37,500 crore): applications invited, last date 7 September (PIB, 8 July 2026).
Press Information Bureau original sourceGovernment Schemes
MoFPI holds stakeholder consultation on next phase of food processing incentive scheme
8 July 2026 | Press Information Bureau
PIB said the Ministry of Food Processing Industries held a stakeholder consultation at Vigyan Bhawan, New Delhi on 8 July 2026 to shape the next phase of incentive schemes for the sector, with senior officials, IFCI Limited, Invest India, industry and beneficiaries of the PLISFPI scheme.
The presentation said beneficiaries of the existing PLISFPI reported investments of over Rs 9,207 crore across 212 manufacturing locations in 22 States, against an originally committed Rs 7,722 crore, about 20 per cent more.
Key facts- Scheme: PLISFPI (PLI for food processing)
- Committed investment: Rs 7,722 crore
- Reported investment: over Rs 9,207 crore
- Locations: 212 across 22 States
Exam takeaway: PLI schemes link incentives to production and investment.
Quick revision: MoFPI consultation: PLISFPI investment over Rs 9,207 crore (PIB, 8 July 2026).
Press Information Bureau original source