Banking and RBI
RBI issues final Prudential Norms on Specified Non-Financial Assets acquired by regulated entities
16 July 2026 | Reserve Bank of India
The RBI issued on 16 July 2026 final amendment directions on Prudential Norms on Specified Non-financial Assets (SNFA) acquired by regulated entities. The draft directions were issued on 5 May 2026 for stakeholder feedback, which was examined and incorporated in the final directions.
The amendments are made to the Resolution of Stressed Assets directions for commercial banks, small finance banks and NBFCs, among others.
Key facts- Final directions issued: 16 July 2026
- Draft issued: 5 May 2026
- Subject: Specified Non-financial Assets (SNFA)
- Amends: Resolution of Stressed Assets directions
Exam takeaway: SNFA norms govern non-financial assets that lenders acquire in resolving stressed loans.
Quick revision: RBI final SNFA prudential norms issued (RBI, 16 July 2026).
Reserve Bank of India original sourceBanking and RBI
RBI announces 3-day VRR auction of Rs 75,000 crore on 17 July 2026
16 July 2026 | Reserve Bank of India
The RBI said it would conduct a 3-day Variable Rate Repo (VRR) auction under the LAF on Friday, 17 July 2026, for a notified amount of Rs 75,000 crore, with reversal on Monday, 20 July 2026.
The window is 9:30 AM to 10:00 AM and the guidelines are the same as in the press release of 20 January 2022.
Key facts- Notified amount: Rs 75,000 crore
- Tenor: 3 days
- Auction date announced: 17 July 2026
- Reversal: 20 July 2026
Exam takeaway: A 3-day tenor over a weekend ends on Monday.
Quick revision: 3-day VRR of Rs 75,000 crore announced for 17 July (RBI, 16 July 2026).
Reserve Bank of India original sourceGovernment Schemes
Cabinet approves National Investment Policy for Urea-2026 (NIPU-2026)
15 July 2026 | Press Information Bureau
This item is carried forward from 15 July 2026. PIB said the Cabinet Committee on Economic Affairs approved the National Investment Policy for Urea-2026 for Atmanirbhar Bharat (NIPU-2026), a proposal of the Department of Fertilizers, to encourage new gas-based urea manufacturing units.
Key changes over NIP-2012 include separating fixed and variable costs, a Return on Equity band with a floor of 12 per cent and a ceiling of 16 per cent, and conversion of fixed cost into INR after four years. Savings are estimated at over Rs 250 crore for each plant.
Key facts- Policy: NIPU-2026 (approved 15 July 2026)
- Return on Equity band: 12% floor, 16% ceiling
- Fixed cost converted to INR after four years
- Estimated saving: over Rs 250 crore per plant
Exam takeaway: The policy targets self-sufficiency in urea.
Quick revision: NIPU-2026 approved by CCEA on 15 July (PIB).
Press Information Bureau original sourceAppointments, Awards and Important Days
Dr Srinivasa Kumar Tummala appointed Secretary, Ministry of Earth Sciences
16 July 2026 | Press Information Bureau
PIB said the Appointments Committee of the Cabinet approved the appointment of Dr Srinivasa Kumar Tummala, Head of the Indian Ocean Tsunami Warning and Mitigation System (IOTWMS) Secretariat at the UNESCO Intergovernmental Oceanographic Commission Secretariat, Perth, Australia, as Secretary, Ministry of Earth Sciences.
The tenure is two years from the date of assumption of charge, or until further orders, whichever is earlier.
Key facts- Appointed: Dr Srinivasa Kumar Tummala, Secretary, MoES
- Approved by: Appointments Committee of the Cabinet
- Tenure: two years from assumption of charge
- Earlier role: Head, IOTWMS Secretariat, UNESCO IOC, Perth
Exam takeaway: ACC approves appointments of Secretaries to the Government of India.
Quick revision: Tummala appointed MoES Secretary (PIB, 16 July 2026).
Press Information Bureau original source