Banking and RBI
RBI imposes Rs 11 lakh penalty on Arvind Sahakari Bank, Katol
23 July 2026 | Reserve Bank of India
By an order dated 16 July 2026, the RBI imposed a monetary penalty of Rs 11 lakh on Arvind Sahakari Bank Ltd., Katol, Maharashtra, for non-compliance with RBI directions on 'Housing Finance for UCBs' and 'Interest Rate on Deposits'.
The penalty is under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, after an RBI inspection with reference to the position as on 31 March 2025.
Key facts- Bank: Arvind Sahakari Bank Ltd., Katol
- Penalty: Rs 11 lakh
- Order date: 16 July 2026
- Directions: Housing Finance for UCBs; Interest Rate on Deposits
Exam takeaway: UCB stands for Urban Co-operative Bank.
Quick revision: RBI penalises Arvind Sahakari Bank Rs 11 lakh (RBI, 23 July 2026).
Reserve Bank of India original sourceEconomy and Finance
Government announces Rs 20,000 crore buyback of dated securities
23 July 2026 | Reserve Bank of India
The RBI announced on 23 July 2026 that the Government of India will buy back its securities through auction for an aggregate amount of Rs 20,000 crore (face value). Four securities are covered: 7.33% GS 2026, 5.74% GS 2026, 8.15% GS 2026 and 8.24% GS 2027.
Offers are to be submitted on E-Kuber on 28 July 2026 between 10:30 AM and 11:30 AM, with settlement on 29 July 2026. The auction uses the multiple price method and there is no notified amount for individual securities.
Key facts- Aggregate amount: Rs 20,000 crore (face value)
- Securities covered: four
- Auction method: multiple price
- Offers on E-Kuber: 28 July 2026 (announced)
Exam takeaway: A buyback lets the government retire debt ahead of maturity.
Quick revision: Rs 20,000 crore G-Sec buyback announced (RBI, 23 July 2026).
Reserve Bank of India original sourceGovernment Schemes
BioE3 Policy implementation: over 270 projects recommended for funding
23 July 2026 | Press Information Bureau
In a Parliament answer published by PIB on 23 July 2026, the Government said the Union Cabinet approved the BioE3 (Biotechnology for Economy, Environment and Employment) Policy in August 2024 for fostering high-performance biomanufacturing.
Six thematic sectors were identified; 11 calls for proposals drew over 2000 proposals, and over 270 projects were recommended for funding. BioE3 hubs such as Bio-AI Hubs, Biofoundries and Biomanufacturing Hubs are being set up.
Key facts- Policy approved: August 2024
- Thematic sectors: six
- Calls for proposals: 11; proposals: over 2000
- Projects recommended: over 270
Exam takeaway: BioE3 stands for Biotechnology for Economy, Environment and Employment.
Quick revision: BioE3: over 270 projects recommended (PIB, 23 July 2026).
Press Information Bureau original source