Banking and RBI
RBI imposes Rs 5.80 lakh penalty on Muthoot Finance Limited
17 July 2026 | Reserve Bank of India
By an order dated 10 July 2026, the RBI imposed a monetary penalty of Rs 5.80 lakh on Muthoot Finance Limited for non-compliance with provisions of the RBI Know Your Customer (KYC) Directions.
The penalty is under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934, following a statutory inspection with reference to the company's position as on 31 March 2025.
Key facts- Company: Muthoot Finance Limited
- Penalty: Rs 5.80 lakh
- Reason: RBI KYC Directions
- Law: Section 58G(1)(b), RBI Act, 1934
Exam takeaway: NBFC penalties are imposed under the RBI Act, 1934.
Quick revision: RBI penalises Muthoot Finance Rs 5.80 lakh for KYC (RBI, 17 July).
Reserve Bank of India original sourceBanking and RBI
RBI announces 7-day VRR auction of Rs 1,25,000 crore on 20 July 2026
17 July 2026 | Reserve Bank of India
The RBI said it would conduct a 7-day Variable Rate Repo (VRR) auction under the LAF on Monday, 20 July 2026, for a notified amount of Rs 1,25,000 crore, with reversal on Monday, 27 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 1,25,000 crore
- Tenor: 7 days
- Auction date announced: 20 July 2026
- Reversal: 27 July 2026
Exam takeaway: A 7-day VRR drains liquidity for a week.
Quick revision: 7-day VRR of Rs 1,25,000 crore announced for 20 July (RBI, 17 July 2026).
Reserve Bank of India original sourceGovernment Schemes
Modified UDAN: Rs 28,840 crore outlay for FY 2026-27 to FY 2035-36
17 July 2026 | Press Information Bureau
A PIB feature of 17 July 2026 says that over nine years the UDAN scheme has operationalised 679 routes across 95 airports, heliports and water aerodromes, with more than 3.58 lakh flights serving over 1.68 crore passengers.
Modified UDAN is being implemented from FY 2026-27 to FY 2035-36 with an outlay of Rs 28,840 crore, and envisions 100 new airports and 200 modern helipads.
Key facts- Routes operationalised: 679 across 95 airports
- Flights: over 3.58 lakh; passengers: over 1.68 crore
- Modified UDAN period: FY 2026-27 to FY 2035-36
- Outlay: Rs 28,840 crore
Exam takeaway: UDAN stands for Ude Desh ka Aam Nagrik and expands regional air connectivity.
Quick revision: Modified UDAN outlay Rs 28,840 crore, FY27 to FY36 (PIB, 17 July 2026).
Press Information Bureau original source