Banking and RBI
RBI convenes Third Annual Conference of Internal Ombudsmen in Mumbai
13 July 2026 | Reserve Bank of India
The RBI organised the third annual conference of Internal Ombudsmen (IOs) on 13 July 2026 in Mumbai, bringing together IOs from banks, NBFCs, credit information companies and other regulated entities, along with MDs and CEOs, nodal officers and RBI Ombudsmen.
In his keynote, Deputy Governor Swaminathan J. urged IOs to provide meaningful, fair and effective resolution of customer complaints, identify recurring issues, undertake root cause analysis and help implement remedial measures.
Key facts- Event: Third Annual Conference of Internal Ombudsmen
- Date and place: 13 July 2026, Mumbai
- Keynote: Deputy Governor Swaminathan J.
- Participants: banks, NBFCs, CICs and other regulated entities
Exam takeaway: Internal Ombudsmen handle complaints within regulated entities before the RBI Ombudsman.
Quick revision: RBI Third Annual Conference of Internal Ombudsmen, Mumbai (RBI, 13 July 2026).
Reserve Bank of India original sourceBanking and RBI
RBI imposes Rs 13.30 lakh penalty on Surat People's Co-operative Bank
13 July 2026 | Reserve Bank of India
By an order dated 10 July 2026, the RBI imposed a monetary penalty of Rs 13.30 lakh on Surat People's Co-operative Bank Ltd, Surat, for non-compliance with directions on 'Board of Directors - UCBs'.
The penalty is under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, based on a statutory inspection with reference to the bank's position as on 31 March 2025.
Key facts- Bank: Surat People's Co-operative Bank, Surat
- Penalty: Rs 13.30 lakh
- Reason: directions on Board of Directors - UCBs
- Order date: 10 July 2026
Exam takeaway: RBI penalties are regulatory actions on compliance gaps.
Quick revision: RBI penalises Surat People's Co-op Bank Rs 13.30 lakh (RBI, 13 July).
Reserve Bank of India original sourceEconomy and Finance
Finance Minister reviews FCNR(B), ECB and OFCB swap schemes with PSB heads
13 July 2026 | Press Information Bureau
PIB said Finance Minister Nirmala Sitharaman on 13 July 2026 interacted in New Delhi with MDs and CEOs of Public Sector Banks and Public Financial Institutions on the FCNR(B) deposit, ECB and OFCB swap initiatives, and called for enhanced NRI outreach to sustain the mobilisation momentum.
The release says banks reported strong interest under the RBI's FCNR(B), ECB and OFCB swap schemes and that PSBs project stronger ECB mobilisation in the third quarter of FY 2026-27.
Key facts- Meeting: FM with PSB and PFI heads, 13 July 2026
- Topics: FCNR(B), ECB and OFCB swap schemes
- Call: enhanced NRI outreach
- Projection: stronger ECB mobilisation in Q3 FY 2026-27
Exam takeaway: Swap windows let the RBI take foreign currency inflows from banks.
Quick revision: FM reviews FCNR(B), ECB, OFCB swap schemes (PIB, 13 July 2026).
Press Information Bureau original source