July 2026 Compilation · Monthly Current Affairs

Banking and RBI

RBI appoints Ravi Shankar as Executive Director

1 July 2026 | Reserve Bank of India

The RBI appointed Shri Ravi Shankar as Executive Director (ED) with effect from 1 July 2026. He was earlier Adviser-in-Charge of the Department of Statistics and Information Management.

As ED he will look after the Department of Statistics and Information Management. The RBI release says he has over three decades of experience in the Bank, including banking statistics, the government securities market, settlement systems and debt management.

Exam takeaway: RBI appointments are frequent static-GK questions.

Quick revision: Ravi Shankar appointed RBI Executive Director from 1 July 2026 (RBI).

Banking and RBI

FRSB 2020 (Taxable) interest rate stays at 8.05% for July to December 2026

1 July 2026 | Reserve Bank of India

The RBI announced that the coupon rate on the Floating Rate Savings Bond, 2020 (Taxable), FRSB 2020(T), for 1 July to 31 December 2026, payable on 1 January 2027, remains at 8.05% (7.70% plus 0.35%), unchanged from the previous half-year.

The rate is reset half-yearly at a spread of 35 basis points over the prevailing National Savings Certificate (NSC) rate.

Exam takeaway: Floating rate bonds reset their coupon periodically against a benchmark.

Quick revision: FRSB 2020(T) coupon unchanged at 8.05% for H2 2026 (RBI).

Banking and RBI

RBI imposes Rs 10,000 penalty on Dharmavir Sambhaji Urban Co-operative Bank, Pune

2 July 2026 | Reserve Bank of India

By an order dated 29 June 2026, the RBI imposed a monetary penalty of Rs 10,000 on Dharmavir Sambhaji Urban Cooperative Bank Ltd, Pune, Maharashtra, for non-compliance with directions on Know Your Customer (KYC).

The penalty is under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949, following a statutory inspection with reference to the bank's financial position as on 31 March 2025.

Exam takeaway: KYC compliance is a recurring regulatory theme.

Quick revision: RBI penalises Pune UCB Rs 10,000 for KYC non-compliance (RBI, 2 July).

Banking and RBI

Forex reserves fall to US$ 666.93 billion as on 26 June 2026

3 July 2026 | Reserve Bank of India

The RBI's Weekly Statistical Supplement of 3 July 2026 shows total foreign exchange reserves at US$ 666,933 million (Rs 62,94,507 crore) as on 26 June 2026, down US$ 5,654 million over the week.

Foreign currency assets were US$ 541,067 million (down US$ 150 million) and gold US$ 102,536 million (down US$ 5,394 million). SDRs stood at US$ 18,558 million and the Reserve Position in the IMF at US$ 4,772 million.

Exam takeaway: The weekly fall was mainly due to lower gold holdings.

Quick revision: Forex reserves US$ 666.93 bn on 26 June 2026 (RBI WSS).

Banking and RBI

RBI imposes Rs 63.60 lakh penalty on Bank of Baroda

3 July 2026 | Reserve Bank of India

By an order dated 30 June 2026, the RBI imposed a monetary penalty of Rs 63.60 lakh on Bank of Baroda for non-compliance with provisions of directions on the Fair Practices Code for Lenders and Know Your Customer (KYC).

The penalty is under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949, after the Inspection for Supervisory Evaluation (ISE 2025) with reference to the bank's position as on 31 March 2025.

Exam takeaway: RBI penalties are regulatory actions on compliance gaps.

Quick revision: RBI penalises Bank of Baroda Rs 63.60 lakh (RBI, 3 July).

Banking and RBI

RBI announces Rs 32,000 crore dated securities auction for 10 July 2026

6 July 2026 | Reserve Bank of India

An RBI release of 6 July 2026 says the Government of India announced the sale (re-issue) of two dated securities for a notified amount of Rs 32,000 crore: 6.36% GS 2031 (Rs 21,000 crore, repayable 16 February 2031) and 7.71% GS 2066 (Rs 11,000 crore, repayable 18 May 2066).

The auction is scheduled for 10 July 2026 with settlement on 13 July 2026. GoI has the option to retain additional subscription of up to Rs 2,000 crore against each security.

Exam takeaway: RBI conducts government securities auctions as the Centre's debt manager.

Quick revision: Rs 32,000 crore G-Sec auction announced for 10 July (RBI, 6 July 2026).

Banking and RBI

RBI announces overnight VRR auction of Rs 50,000 crore on 7 July 2026

6 July 2026 | Reserve Bank of India

The RBI said that, on a review of liquidity conditions, it would conduct an overnight Variable Rate Repo (VRR) auction under the LAF on Tuesday, 7 July 2026, for a notified amount of Rs 50,000 crore with a tenor of 1 day, reversal on 8 July 2026.

The window is 9:30 AM to 10:00 AM, and the operational guidelines are the same as in the RBI press release of 20 January 2022.

Exam takeaway: VRR auctions let the RBI adjust short-term liquidity.

Quick revision: Overnight VRR of Rs 50,000 crore announced for 7 July (RBI, 6 July 2026).

Banking and RBI

RBI announces overnight VRR auction of Rs 25,000 crore on 8 July 2026

7 July 2026 | Reserve Bank of India

The RBI said it would conduct an overnight Variable Rate Repo (VRR) auction on Wednesday, 8 July 2026, for a notified amount of Rs 25,000 crore with a tenor of 1 day, reversal on 9 July 2026, in the window 9:30 AM to 10:00 AM.

The guidelines are the same as in the RBI press release of 20 January 2022.

Exam takeaway: VRR auctions adjust short-term liquidity.

Quick revision: Overnight VRR of Rs 25,000 crore announced for 8 July (RBI, 7 July 2026).

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.

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).

Banking and RBI

RBI launches July 2026 round of Inflation Expectations Survey of Households

9 July 2026 | Reserve Bank of India

The RBI launched the July 2026 round of its Inflation Expectations Survey of Households (IESH) on 9 July 2026. The survey covers 19 cities and captures households' subjective assessments of price movements, including qualitative responses on prices three months and one year ahead and quantitative responses on current, three-month-ahead and one-year-ahead inflation.

The RBI says the results provide useful inputs for monetary policy. The listed cities include Ahmedabad, Bengaluru, Delhi, Mumbai, Chennai, Kolkata and Thiruvananthapuram.

Exam takeaway: IESH is a regular RBI survey that feeds into policy.

Quick revision: RBI IESH July 2026 round launched across 19 cities (RBI, 9 July).

Banking and RBI

RBI announces overnight VRR auction of Rs 50,000 crore on 9 July 2026

9 July 2026 | Reserve Bank of India

The RBI said it would conduct an overnight Variable Rate Repo (VRR) auction under the LAF on Thursday, 9 July 2026, for a notified amount of Rs 50,000 crore with a tenor of 1 day, reversal on 10 July 2026.

The window is 12:15 PM to 12:45 PM, a different timing from the earlier 9:30 AM to 10:00 AM windows, with the same operational guidelines as the press release of 20 January 2022.

Exam takeaway: VRR auctions adjust short-term liquidity.

Quick revision: Overnight VRR of Rs 50,000 crore announced for 9 July (RBI).

Banking and RBI

G-Sec auction of 10 July 2026: 6.36% GS 2031 and 7.71% GS 2066 fully accepted

10 July 2026 | Reserve Bank of India

The RBI's auction result of 10 July 2026 shows Rs 21,000 crore accepted in 6.36% GS 2031 (cut-off price Rs 99.75, implicit yield 6.4218%) and Rs 11,000 crore in 7.71% GS 2066 (cut-off price Rs 103.23, implicit yield 7.4543%), with no devolvement on Primary Dealers.

In the underwriting auction the same day, the ACU commission cut-off rates were 0.27 paise per Rs 100 for the 2031 security and 0.66 paise for the 2066 security (RBI press release 2026-2027/640).

Exam takeaway: Devolvement occurs when primary dealers must take up unsold securities.

Quick revision: G-Sec auction 10 July 2026: Rs 32,000 crore accepted, no devolvement (RBI).

Banking and RBI

RBI announces Rs 24,000 crore Treasury Bill auction for 15 July 2026

10 July 2026 | Reserve Bank of India

This item is carried forward from 10 July 2026. The RBI announced the auction of 91-day (Rs 9,000 crore), 182-day (Rs 8,000 crore) and 364-day (Rs 7,000 crore) Treasury Bills, a total notified amount of Rs 24,000 crore, with the auction on 15 July 2026 and settlement on 16 July 2026.

State Governments, UTs with legislature, eligible Provident Funds, designated Foreign Central Banks and others specified by the RBI can bid non-competitively outside the notified amount, and individuals can participate as retail investors.

Exam takeaway: T-Bills are short-term government securities issued at a discount.

Quick revision: T-Bill auction of Rs 24,000 crore announced for 15 July (RBI, 10 July 2026).

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.

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).

Banking 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.

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).

Banking and RBI

RBI issues final Amendment Directions on 'Matters to be placed before the Boards of the Banks'

14 July 2026 | Reserve Bank of India

Following the Statement on Developmental and Regulatory Policies of 8 April 2026, the RBI issued on 14 July 2026 final amendment directions on matters to be placed before bank Boards. The draft Reserve Bank of India (Governance) Amendment Directions, 2026 were issued on 8 April 2026 and proposed to replace the seven broad themes with principle-based guidance.

The aim is to help Boards use their time effectively and engage in a more focused and qualitative way on strategy and risk governance. The final Amendment Directions come into effect from 1 October 2026.

Exam takeaway: Board governance rules shape how bank Boards spend their time.

Quick revision: RBI final Board-matters directions effective 1 October 2026 (RBI, 14 July).

Banking and RBI

RBI invites comments on draft Acquisition and Holding of Shares or Voting Rights Amendment Directions, 2026

14 July 2026 | Reserve Bank of India

On 14 July 2026 the RBI released draft Amendment Directions, 2026 on acquisition and holding of shares or voting rights for commercial banks, small finance banks, payments banks and local area banks, among other entities, and invited public comments.

The review followed representations from Asset Management Companies, with the aim of simplifying the approval process for subsequent acquisitions of major shareholding in a banking company by mutual funds, insurance companies and pension funds.

Exam takeaway: Draft directions are open for feedback before they become final.

Quick revision: RBI draft directions on bank shareholding by MFs, insurers, pension funds (RBI, 14 July).

Banking and RBI

RBI issues draft Guidance on Regulatory Expectations for Data Governance

15 July 2026 | Reserve Bank of India

The RBI released on 15 July 2026 the draft 'Guidance on Regulatory Expectations for Data Governance' for public comments. It applies to commercial banks, small finance banks, payments banks, local area banks, regional rural banks, urban and rural co-operative banks, all India financial institutions, NBFCs, asset reconstruction companies and credit information companies.

Exam takeaway: Draft guidance is open for feedback before final issue.

Quick revision: RBI draft data governance guidance for 11 entity types (RBI, 15 July 2026).

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.

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).

Banking 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.

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).

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.

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).

Banking 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.

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).

Banking and RBI

DoLR and RBI Innovation Hub explore Digital Public Infrastructure for land and credit

18 July 2026 | Press Information Bureau

PIB said the Department of Land Resources (DoLR), Ministry of Rural Development, held a meeting with the RBI Innovation Hub (RBIH) to explore convergence of Digital Public Infrastructure for land governance and digital lending. It was chaired by Narendra Bhooshan, Secretary, DoLR, with RBIH CEO Sahil Kini.

The discussions focused on synergies between digital land governance initiatives and the Unified Lending Interface (ULI) for consent-based credit delivery, particularly for farmers and rural citizens.

Exam takeaway: ULI is the RBI Innovation Hub platform for consent-based digital credit delivery.

Quick revision: DoLR and RBIH discuss land DPI with ULI (PIB, 18 July 2026).

Banking and RBI

RBI swap facility: USD 20,718 million mobilised till 17 July 2026

20 July 2026 | Reserve Bank of India

The RBI said its concessional swap facility for fresh FCNR(B) deposits, OFCB and ECB inflows, announced on 5 June 2026 and operationalised on 8 June 2026, has seen steady forex inflows. The facility is available up to 30 September 2026 for FCNR(B) deposits and up to 31 December 2026 for OFCBs and ECBs.

Inflows mobilised till 17 July 2026: FCNR(B) deposits USD 17,406 million, OFCBs USD 1,970 million and ECBs USD 1,342 million, a total of USD 20,718 million.

Exam takeaway: The facility aims to strengthen the balance of payments by incentivising capital inflows.

Quick revision: RBI swap facility mobilised USD 20,718 million till 17 July (RBI, 20 July 2026).

Banking and RBI

RBI imposes Rs 13.30 lakh penalty on Kolhapur District Central Co-op Bank

20 July 2026 | Reserve Bank of India

By an order dated 17 July 2026, the RBI imposed a monetary penalty of Rs 13.30 lakh on Kolhapur District Central Co-op Bank Ltd., Maharashtra, for non-compliance with provisions of Section 20(1) read with Section 56 of the Banking Regulation Act, 1949.

The statutory inspection was conducted by NABARD with reference to the bank's financial position as on 31 March 2025.

Exam takeaway: Co-operative banks are regulated under the Banking Regulation Act, 1949 as applicable.

Quick revision: RBI penalises Kolhapur DCC Bank Rs 13.30 lakh (RBI, 20 July 2026).

Banking and RBI

RBI 7-day VRR auction result: Rs 72,051 crore allotted at 5.26 per cent

20 July 2026 | Reserve Bank of India

In the 7-day VRR auction held on 20 July 2026, against a notified amount of Rs 1,25,000 crore, bids of Rs 72,051 crore were received and the same amount was allotted.

The cut-off rate and the weighted average rate were both 5.26 per cent.

Exam takeaway: A cut-off rate is the rate at which the last bid was accepted.

Quick revision: 7-day VRR result: Rs 72,051 crore at 5.26% (RBI, 20 July 2026).

Banking and RBI

RBI releases draft rationalised Foreign Exchange Management (Non-Debt Instruments) Rules

21 July 2026 | Reserve Bank of India

The RBI released on 21 July 2026 draft rules for comments to rationalise the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (NDI Rules), which govern foreign investment into India.

The Union Budget 2026-27 announced a comprehensive review of the NDI Rules. A committee constituted by the Central Government reviewed the framework, and the RBI prepared the draft based on its recommendations. The draft aims at a simplified, principle-based framework with harmonised definitions.

Exam takeaway: NDI Rules govern foreign investment in equity-type instruments.

Quick revision: Draft NDI Rules rationalisation released for comments (RBI, 21 July 2026).

Banking and RBI

RBI 3-day VRR auction result: Rs 34,291 crore allotted at 5.26 per cent

21 July 2026 | Reserve Bank of India

In the 3-day VRR auction held on 21 July 2026, against a notified amount of Rs 75,000 crore, bids of Rs 34,291 crore were received and fully allotted.

The cut-off rate and weighted average rate were both 5.26 per cent.

Exam takeaway: VRR auctions adjust liquidity through repo operations.

Quick revision: 3-day VRR result of 21 July 2026: Rs 34,291 crore at 5.26% (RBI).

Banking and RBI

RBI announces 2-day VRR auction of Rs 75,000 crore on 22 July 2026

22 July 2026 | Reserve Bank of India

The RBI said it would conduct a 2-day Variable Rate Repo (VRR) auction on Wednesday, 22 July 2026, for a notified amount of Rs 75,000 crore, with reversal on Friday, 24 July 2026.

The window is 10:00 AM to 10:30 AM.

Exam takeaway: Auction windows can differ from the usual 9:30 AM start.

Quick revision: 2-day VRR of Rs 75,000 crore announced for 22 July (RBI).

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.

Exam takeaway: UCB stands for Urban Co-operative Bank.

Quick revision: RBI penalises Arvind Sahakari Bank Rs 11 lakh (RBI, 23 July 2026).

Banking and RBI

RBI announces 3-day VRR auction of Rs 75,000 crore on 27 July 2026

24 July 2026 | Reserve Bank of India

The RBI said it would conduct a 3-day Variable Rate Repo (VRR) auction on Monday, 27 July 2026, for a notified amount of Rs 75,000 crore, with reversal on Thursday, 30 July 2026.

The window is 9:30 AM to 10:00 AM.

Exam takeaway: A Monday 3-day VRR ends on Thursday.

Quick revision: 3-day VRR of Rs 75,000 crore announced for 27 July (RBI).

Banking and RBI

RBI issues draft Securitisation Transactions Amendment Directions

27 July 2026 | Reserve Bank of India

The RBI issued on 27 July 2026 draft Amendment Directions on Securitisation Transactions for public comments, to improve efficiency, liquidity and transparency in issuance and subsequent transfer of Securitisation Notes (SNs). Separate drafts cover commercial banks, small finance banks, NBFCs and All India Financial Institutions.

Comments are invited by 27 August 2026 through the Connect2Regulate section of the RBI website.

Exam takeaway: Securitisation Notes are instruments issued in securitisation transactions.

Quick revision: RBI draft securitisation directions; comments by 27 August (RBI, 27 July 2026).

Banking and RBI

RBI 3-day VRR auction result: Rs 12,720 crore allotted at 5.26 per cent

27 July 2026 | Reserve Bank of India

In the 3-day VRR auction held on 27 July 2026, against a notified amount of Rs 75,000 crore, bids of Rs 12,720 crore were received and fully allotted.

The cut-off rate and weighted average rate were both 5.26 per cent.

Exam takeaway: Low bids against the notified amount show limited demand for the auction.

Quick revision: 3-day VRR result of 27 July 2026: Rs 12,720 crore at 5.26% (RBI).

Banking and RBI

Rabobank ceases to be a banking company under Section 36A(2) of the BR Act

27 July 2026 | Reserve Bank of India

The RBI said on 27 July 2026 that Coöperatieve Rabobank U.A. has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949, under a notification dated 24 June 2026 published in the Gazette of India on 2 July 2026.

Exam takeaway: Section 36A of the BR Act deals with applicability of certain provisions to banking companies.

Quick revision: Rabobank ceases to be a banking company (RBI, 27 July 2026).

Banking and RBI

Delhi High Court orders winding up of Paytm Payments Bank Limited

28 July 2026 | Reserve Bank of India

The RBI said it cancelled the banking licence of Paytm Payments Bank Limited (PPBL) under Section 22(4) of the Banking Regulation Act, 1949, effective from close of business on 24 April 2026, and applied to the Delhi High Court for its winding up.

By an order of 8 July 2026 read with the order of 22 July 2026, the Delhi High Court ordered that PPBL be wound up and appointed Girikumar M Nair, former CGM of State Bank of India, as Official Liquidator.

Exam takeaway: Section 22 of the BR Act deals with licensing of banking companies.

Quick revision: Paytm Payments Bank wound up; liquidator appointed (RBI, 28 July 2026).

Banking and RBI

RBI announces overnight VRR auction of Rs 50,000 crore on 29 July 2026

28 July 2026 | Reserve Bank of India

The RBI said it would conduct an overnight (1-day) Variable Rate Repo auction on Wednesday, 29 July 2026, for a notified amount of Rs 50,000 crore, with reversal on Thursday, 30 July 2026.

The window is 9:30 AM to 10:00 AM.

Exam takeaway: Overnight VRR auctions have a one-day tenor.

Quick revision: Overnight VRR of Rs 50,000 crore announced for 29 July (RBI).

Banking and RBI

RBI issues final Basel Pillar 3 disclosure directions for banks

30 July 2026 | Reserve Bank of India

The RBI said on 30 July 2026 that, after examining feedback on the draft Amendment Directions of 19 May 2026 on Basel Pillar 3 disclosures, it issued ten Amendment Directions revising instructions applicable to banks. These include the Commercial Banks and Small Finance Banks Prudential Norms on Capital Adequacy Amendment Directions, 2026.

A statement on the feedback received is annexed to the press release.

Exam takeaway: Pillar 3 of Basel norms deals with market discipline through disclosures.

Quick revision: RBI final Basel Pillar 3 directions issued (RBI, 30 July 2026).

Banking and RBI

RBI revises bulk deposit interest rate rules for commercial banks, effective 1 October 2026

30 July 2026 | Reserve Bank of India

The RBI issued the Commercial Banks (Interest Rate on Deposits) Second Amendment Directions, 2026 on 30 July 2026, effective 1 October 2026. They revise instructions on rupee bulk deposits and disclosure of deposit interest rates.

Interest rates on deposits, including bulk deposits, must strictly follow the schedule disclosed in advance on the bank's website, with bulk deposit rates disclosed at 10:00 AM, with a grace period up to 10:10 AM, on every business day.

Exam takeaway: Bulk deposit rates must now follow a rate schedule disclosed in advance.

Quick revision: RBI revises bulk deposit rate directions; effective 1 Oct 2026 (RBI).

Banking and RBI

RBI issues Consolidated Supervisory Directions: 628 circulars into 64 Master Directions

31 July 2026 | Reserve Bank of India

The RBI said on 31 July 2026 that, following the exercise announced on 8 April 2026, it consolidated 628 circulars (including Master Circulars and Master Directions) into 64 Master Directions covering up to nine functions across 11 types of regulated entities.

The 11 entity types include Commercial Banks, Small Finance Banks, Payments Banks, Local Area Banks, RRBs, UCBs, Rural Co-operative Banks, AIFIs, NBFCs, Asset Reconstruction Companies and Credit Information Companies.

Exam takeaway: Consolidation reduces compliance cost and duplication.

Quick revision: RBI Consolidated Supervisory Directions (RBI, 31 July 2026).

Banking and RBI

Lending and Deposit Rates of Scheduled Commercial Banks, July 2026

31 July 2026 | Reserve Bank of India

RBI data released on 31 July 2026 show the WALR on fresh rupee loans of SCBs at 8.53 per cent in June 2026 (8.51 per cent in May), and on outstanding rupee loans at 8.96 per cent (8.97 per cent in May). The 1-year median MCLR stood at 8.60 per cent in July 2026 (8.50 per cent in June).

The WADTDR on fresh rupee term deposits was 5.99 per cent in June 2026 (5.83 per cent in May), and on outstanding deposits 6.58 per cent (6.57 per cent in May).

Exam takeaway: WALR is the weighted average lending rate; WADTDR is the weighted average domestic term deposit rate.

Quick revision: SCB lending and deposit rates, June and July 2026 (RBI).

Economy and Finance

Cabinet approves Rs 7,145.14 crore Kanpur-Kabrai access-controlled highway

1 July 2026 | Press Information Bureau

PIB said the Cabinet Committee on Economic Affairs, chaired by the Prime Minister, approved on 1 July 2026 the construction of the 117.7 km Kanpur-Kabrai access-controlled greenfield highway, a four-lane corridor designed for future six-laning, at a total capital cost of Rs 7,145.14 crore.

It is a key segment of the Bhopal-Kanpur Economic Corridor under the National Highways (O) Programme. NHAI will implement it on BOT (Toll) mode, together with operation and maintenance of the existing Kanpur-Kabrai section of NH-34.

Exam takeaway: BOT (Toll) means the developer builds, operates and collects toll for a period.

Quick revision: Cabinet approves Kanpur-Kabrai highway, Rs 7,145.14 crore (PIB, 1 July 2026).

Economy and Finance

Underwriting auction for Rs 34,000 crore 6.94% GS 2036 on 3 July 2026

2 July 2026 | Reserve Bank of India

The RBI notified that the Government of India announced the re-issue of 6.94% GS 2036 for Rs 34,000 crore through an auction scheduled for 3 July 2026 (Friday).

Under the underwriting scheme notified on 14 November 2007, the Minimum Underwriting Commitment per Primary Dealer is Rs 810 crore, with the same minimum bidding commitment under the Additional Competitive Underwriting auction.

Exam takeaway: Primary Dealers underwrite government security auctions.

Quick revision: 6.94% GS 2036 auction of Rs 34,000 crore announced for 3 July (RBI).

Economy and Finance

India's steel sector records growth in Q1 FY 2026-27

6 July 2026 | Press Information Bureau

PIB's steel sector note of 6 July 2026 shows crude steel production of 14.1 million tonnes in June 2026 against 13.5 million tonnes in June 2025 (up 3.9 per cent), and 42.1 million tonnes in April to June 2026 against 40.8 million tonnes a year earlier (up 3.0 per cent).

Finished steel production was 13.8 million tonnes in June 2026 (up 6.0 per cent) and 41.0 million tonnes in April-June 2026 (up 5.9 per cent). The TMT (10 mm) price was Rs 60,068 per tonne in June 2026, down from Rs 63,893 in April.

Exam takeaway: Steel output is a core industry indicator.

Quick revision: Steel Q1 FY27: crude 42.1 Mt, finished 41.0 Mt (PIB, 6 July 2026).

Economy and Finance

NPS: Aggressive and Balanced Life Cycle Funds extended to Central Autonomous Body employees

7 July 2026 | Press Information Bureau

PIB said the Government extended two additional investment choices under the National Pension System (NPS) to employees of Central Autonomous Bodies (CABs) covered under NPS, through a Department of Expenditure memorandum extending the Department of Financial Services notification of 13 November 2025.

The options are the Aggressive Life Cycle Fund (LC-75), now named LC-75-High, and the Balanced Life Cycle Fund (BLC), which were earlier introduced for Central Government employees under NPS.

Exam takeaway: NPS is the contributory pension system for government employees.

Quick revision: NPS additional life cycle funds extended to CAB employees (PIB, 7 July 2026).

Economy and Finance

Government mandates TReDS for settlement of all MSME invoices by CPSEs

10 July 2026 | Press Information Bureau

PIB said a notification dated 30 June 2026 mandates that all operating Central Public Sector Enterprises (CPSEs) route settlement of invoices for goods and services procured from MSMEs through TReDS platforms authorised by the RBI, fulfilling a Union Budget 2026-27 commitment.

CPSEs must disclose details of MSME invoices routed and settled through TReDS as specified by the RBI and obtain a statutory auditor's certificate of TReDS registration and compliance during their annual audit.

Exam takeaway: TReDS is the Trade Receivables Discounting System that helps MSMEs get quick payment.

Quick revision: CPSEs must settle MSME invoices through TReDS (PIB, 10 July 2026; notification of 30 June).

Economy 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.

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).

Economy and Finance

MNRE extends limited ALMM List-II exemption to 31 December 2026

18 July 2026 | Press Information Bureau

PIB said the Ministry of New and Renewable Energy decided that net-metering and open access renewable energy projects can commission with exemption from ALMM List-II (for solar PV cells) till 31 December 2026. The earlier dispensation for this segment was available till 31 May 2026.

The Ministry said there is no change in the ALMM List-II policy and no blanket extension for solar power projects.

Exam takeaway: ALMM is the Approved List of Models and Manufacturers.

Quick revision: MNRE extends limited ALMM List-II exemption to 31 Dec 2026 (PIB).

Economy 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.

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).

Economy and Finance

G-Sec buyback auction result: Rs 12,604.078 crore accepted

28 July 2026 | Reserve Bank of India

In the buyback auction of Government of India dated securities held on 28 July 2026, against an aggregate notified amount of Rs 20,000 crore, participants offered Rs 16,959.078 crore (face value) and Rs 12,604.078 crore was accepted.

Of the four securities, the largest acceptance was in 7.33% GS 2026 (Rs 8,960.691 crore). Cut-off prices were Rs 100.48 (7.33% GS 2026), Rs 100.10 (5.74% GS 2026), Rs 100.86 (8.15% GS 2026) and Rs 101.40 (8.24% GS 2027).

Exam takeaway: The result follows the buyback announced on 23 July 2026.

Quick revision: G-Sec buyback accepted Rs 12,604.078 crore (RBI, 28 July 2026).

Government Schemes

VB-G RAM G Act, 2025 comes into force across the country

1 July 2026 | Press Information Bureau

PIB said the Viksit Bharat - Guarantee for Rozgar and Aajeevika Mission (Gramin) [VB-G RAM G] Act, 2025 came into force across the country on 1 July 2026. Eligible rural households now have a statutory entitlement to 125 days of guaranteed wage employment.

Revised wage rates were notified: no notified daily wage is below Rs 300 and the national average notified wage rose from Rs 298.8 to Rs 327.4 per day, an increase of over 10 per cent. An interim allocation of Rs 95,692.31 crore has been released to States and UTs. The national launch is to be held in Tirupati, Andhra Pradesh on 2 July.

Exam takeaway: VB-G RAM G is the statutory rural employment guarantee under the Act of 2025.

Quick revision: VB-G RAM G Act in force from 1 July 2026: 125 days, minimum wage Rs 300 (PIB).

Government Schemes

Drug demand reduction: treatment seekers up 294% to more than 8.20 lakh

4 July 2026 | Press Information Bureau

PIB said the Ministry of Social Justice and Empowerment is the nodal ministry for drug demand reduction and has launched the National Action Plan for Drug Demand Reduction (NAPDDR), a framework covering prevention, awareness, capacity building, treatment, rehabilitation and social reintegration.

The Nasha Mukt Bharat Abhiyaan (NMBA) was launched in 2020. The release says persons seeking treatment rose by 294 per cent, from 2.08 lakh to more than 8.20 lakh.

Exam takeaway: NAPDDR and NMBA are drug demand reduction initiatives.

Quick revision: NAPDDR: treatment seekers up 294% to over 8.20 lakh (PIB, 4 July).

Government Schemes

Shivraj Singh Chouhan releases first instalment of Rs 25,863 crore to States for VB-G-RAM-G

5 July 2026 | Press Information Bureau

PIB said Union Minister for Rural Development Shivraj Singh Chouhan on 5 July 2026 reviewed implementation of the Viksit Bharat - Guarantee for Rozgar and Aajeevika Mission (Gramin) [VB-G-RAM-G] through a video conference with Rural Development Ministers of all States and UTs, and released the first instalment (Mother Sanction) of Rs 25,863 crore to the States.

He said the scheme was rolled out across the country on a single day from 1 July 2026, that the transition from MGNREGA has been smooth, and that no State will have a wage rate below Rs 300 per day.

Exam takeaway: VB-G-RAM-G replaces the earlier MGNREGA framework from 1 July 2026.

Quick revision: First instalment of Rs 25,863 crore released for VB-G-RAM-G (PIB, 5 July 2026).

Government Schemes

ECLGS 5.0 crosses 4.11 lakh guarantees worth Rs 1,55,229 crore

7 July 2026 | Press Information Bureau

PIB said that under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, approved by the Union Cabinet on 5 May 2026 to support businesses affected by the West Asia geopolitical situation, 4,11,497 guarantees have been issued, with a guaranteed amount of Rs 1,55,229 crore.

The scheme gives 100 per cent guarantee coverage to additional loans of MSMEs and 90 per cent to other business segments. PIB states that 98 per cent of guarantees by number benefit MSMEs.

Exam takeaway: ECLGS gives lenders a government guarantee on additional credit.

Quick revision: ECLGS 5.0: 4.11 lakh guarantees, Rs 1,55,229 crore (PIB, 7 July 2026).

Government 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.

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).

Government 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.

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).

Government Schemes

Gujarat BharatNet addendum signed: Rs 5,629 crore financial support for 14,287 Gram Panchayats

10 July 2026 | Press Information Bureau

PIB said Digital Bharat Nidhi (DBN) under the Department of Telecommunications signed an addendum on 10 July 2026 at Sanchar Bhawan, New Delhi, with the Government of Gujarat, GFGNL and BSNL for the Amended BharatNet Programme in the State under the State-led model.

The release says Rs 5,629 crore financial support was approved, covering 14,287 Gram Panchayats and providing on-demand connectivity to 3,895 villages, and facilitating more than five lakh rural home fibre connections.

Exam takeaway: BharatNet aims to bring broadband to rural India.

Quick revision: Gujarat Amended BharatNet: Rs 5,629 crore, 14,287 GPs (PIB, 10 July 2026).

Government Schemes

Lakhanpur among first towns selected under PM SVANidhi Street Food Hub plan

11 July 2026 | Press Information Bureau

PIB said Union Minister Dr Jitendra Singh disclosed on 11 July 2026 the Government's decision to approve a 'Street Food Hub' at Lakhanpur in Kathua district, Jammu and Kashmir, under the PM SVANidhi initiative, as one of the first towns approved.

He thanked the Ministry of Housing and Urban Affairs for including the Lakhanpur proposal in the first batch, and said the decision comes during the Shri Amarnath Ji Yatra and will benefit pilgrims, tourists and local vendors.

Exam takeaway: PM SVANidhi supports street vendors.

Quick revision: Lakhanpur Street Food Hub approved under PM SVANidhi (PIB, 11 July 2026).

Government Schemes

EPFO invites applications for Amnesty Scheme, 2026 from Provident Fund trusts

12 July 2026 | Press Information Bureau

PIB said the Employees' Provident Fund Organisation (EPFO), under the Ministry of Labour and Employment, introduced the Amnesty Scheme, 2026, a one-time opportunity for establishments operating exempted Provident Fund Trusts recognised under the Income Tax Act, 1961 to regularise their status. The scheme remains open for six months.

The Finance Act, 2026 aligned the Income Tax framework for recognised provident funds with the EPF and Miscellaneous Provisions Act, 1952. Recognition under the Income Tax Act, 2025 is available only to funds exempted under Section 17 of the EPF Act, and amnesty is granted retrospectively under Section 17 of that Act and Section 143 of the Code on Social Security, 2020.

Exam takeaway: The scheme lets exempted PF trusts regularise their status.

Quick revision: EPFO Amnesty Scheme 2026 open for six months (PIB, 12 July).

Government Schemes

Shivraj Singh Chouhan chairs review in Kolkata: Rs 8,508 crore rural package for West Bengal

14 July 2026 | Press Information Bureau

PIB said Union Agriculture and Rural Development Minister Shivraj Singh Chouhan chaired a high-level review meeting in Kolkata on 14 July 2026, attended by Chief Minister Suvendu Adhikari and members of the State Cabinet.

The release headlines a Rs 8,508 crore rural development package and the VB-G RAM G framework for West Bengal, approval of one lakh rural houses and Rs 295 crore for women SHGs, and a Rs 82,000 crore infrastructure push.

Exam takeaway: The package links housing, livelihood and employment schemes.

Quick revision: Chouhan reviews West Bengal rural package of Rs 8,508 crore (PIB, 14 July 2026).

Government Schemes

Cabinet approves Semicon 2.0 with outlay of Rs 1,27,500 crore

15 July 2026 | Press Information Bureau

PIB said the Union Cabinet, chaired by the Prime Minister, approved Semicon 2.0 for India's semiconductor design and manufacturing ecosystem with a total budget outlay of Rs 1,27,500 crore, building on Semicon 1.0.

The scheme rests on six pillars. The first, design, notes that 105 startups have begun developing chips. The second incentivises companies making machines, materials, chemicals and gases for semiconductor manufacturing, and the third covers setting up more fabs.

Exam takeaway: Semicon 2.0 extends support from Semicon 1.0 to the whole chip ecosystem.

Quick revision: Cabinet approves Semicon 2.0, Rs 1,27,500 crore (PIB, 15 July 2026).

Government Schemes

Cabinet approves Mobile Phone Manufacturing Scheme (MPMS) with outlay of Rs 62,500 crore

15 July 2026 | Press Information Bureau

PIB said the Union Cabinet approved the Mobile Phone Manufacturing Scheme (MPMS) with a budgetary outlay of Rs 62,500 crore, with a tenure of five years from FY 2026-27 to FY 2030-31.

Incentives on eligible sales range from 2.25 per cent to 5 per cent, with up to 1.5 per cent more linked to domestic sourcing of key components, and an additional 3 per cent for design and R&D to build Indian brands. Cumulative production is expected to reach about Rs 39,00,000 crore and around 60,000 direct jobs are expected.

Exam takeaway: MPMS aims at Indian brands and domestic value addition.

Quick revision: Cabinet approves MPMS, Rs 62,500 crore (PIB, 15 July 2026).

Government 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.

Exam takeaway: The policy targets self-sufficiency in urea.

Quick revision: NIPU-2026 approved by CCEA on 15 July (PIB).

Government 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.

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).

Government Schemes

Pre-Application Conference held for Rs 37,500 crore Coal/Lignite Gasification Scheme

20 July 2026 | Press Information Bureau

PIB said the Ministry of Coal conducted the Pre-Application Conference for the Rs 37,500 crore Scheme for Promotion of Surface Coal/Lignite Gasification Projects, chaired by Additional Secretary Sanoj Kumar Jha.

The Ministry clarified the Scheme Guidelines and the Request for Proposal, covering eligibility, evaluation methodology, financial incentives and the application process.

Exam takeaway: The scheme promotes cleaner use of domestic coal through gasification.

Quick revision: Coal gasification scheme (Rs 37,500 crore) pre-application conference (PIB, 20 July).

Government Schemes

PLI Schemes: Rs 1.91 lakh crore outlay across 14 sectors

21 July 2026 | Press Information Bureau

PIB said the Government has launched Production Linked Incentive (PLI) Schemes for 14 key sectors with an approved outlay of Rs 1.91 lakh crore. DPIIT is the nodal department for coordination and monitoring.

As on 31 March 2026, the PLI Schemes had resulted in actual investment of over Rs 2.40 lakh crore and employment generation of over 14.15 lakh (direct and indirect).

Exam takeaway: DPIIT is the nodal department for PLI Schemes.

Quick revision: PLI: 14 sectors, Rs 1.91 lakh crore (PIB, 21 July 2026).

Government 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.

Exam takeaway: BioE3 stands for Biotechnology for Economy, Environment and Employment.

Quick revision: BioE3: over 270 projects recommended (PIB, 23 July 2026).

Government Schemes

Cabinet approves BHAVYA Rasayan Scheme for three chemical parks, Rs 3,030 crore

24 July 2026 | Press Information Bureau

PIB said the Union Cabinet approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) Scheme to establish three dedicated chemical parks. The scheme was announced in the Union Budget for FY 2026-27.

Total outlay is Rs 3,030 crore, of which Rs 3,000 crore is for common infrastructure facilities and basic utilities inside the parks and Rs 30 crore for administrative expenditure. The Cabinet briefing says the scheme runs 5 years, supports up to Rs 1,000 crore per park and follows a plug-and-play model.

Exam takeaway: BHAVYA Rasayan builds chemical parks to raise Atmanirbharta in chemicals.

Quick revision: BHAVYA Rasayan: Rs 3,030 crore, three chemical parks (PIB, 24 July 2026).

Government Schemes

CCEA approves Ballari-Guntakal 3rd and 4th line, Rs 1,264 crore

24 July 2026 | Press Information Bureau

PIB said the CCEA approved the 3rd and 4th line of the Ballari-Guntakal section in Karnataka and Andhra Pradesh at a total cost of about Rs 1,264 crore, to be completed up to 2028-29. The project is planned on the PM-Gati Shakti National Master Plan.

It adds about 46 km to the Indian Railways network, covers 3 districts and improves connectivity to about 99 villages, and will add freight traffic of 16.22 MTPA.

Exam takeaway: Multi-tracking projects are planned under PM-Gati Shakti.

Quick revision: Ballari-Guntakal 3rd and 4th line approved (PIB, 24 July 2026).

Government Schemes

PMAY-G: 97.48 lakh houses sanctioned under the new phase

28 July 2026 | Press Information Bureau

PIB said the Union Cabinet approved the continuation of PMAY-G during FY 2024-25 to 2028-29 for construction of 2 crore additional houses. Out of a target of 1.22 crore allocated to States, 97.48 lakh houses have been sanctioned.

Since FY 2024-25 a central share of Rs 49,407.96 crore has been released, and Rs 88,426.76 crore utilised including the State matching share.

Exam takeaway: PMAY-G is the rural housing scheme of the Ministry of Rural Development.

Quick revision: PMAY-G: 97.48 lakh houses sanctioned (PIB, 28 July 2026).

Government Schemes

RDI Scheme: Rs 1 lakh crore over six years; Rs 2,000 crore sanctioned to TDB and BIRAC

29 July 2026 | Press Information Bureau

In a Parliament answer, PIB said the Research, Development and Innovation (RDI) Scheme has an outlay of Rs 1 lakh crore over six years. It gives long-term, low-cost financing through Second-Level Fund Managers such as AIFs and Focused Research Organisations, for projects at Technology Readiness Level 4 and above.

Financial assistance of Rs 1,000 crore each has been sanctioned to the Technology Development Board (TDB) and BIRAC, aggregating Rs 2,000 crore, of which Rs 500 crore was disbursed to TDB in March 2026.

Exam takeaway: The scheme addresses the financing gap for deep-tech research.

Quick revision: RDI Scheme: Rs 1 lakh crore, six years (PIB, 29 July 2026).

Government Schemes

PM-SETU: upgrading 1,000 Government ITIs in a Hub and Spoke model

29 July 2026 | Press Information Bureau

PIB said the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) scheme aims to improve the quality and relevance of vocational training with upgraded labs, machines and industry-aligned curriculum.

Component I upgrades 1,000 Government ITIs (200 Hub ITIs and 800 Spoke ITIs) in a Hub and Spoke model with smart classrooms, modern labs, digital content and new courses. A further objective is to enhance the capacity of NSTIs for training of trainers.

Exam takeaway: ITIs are Industrial Training Institutes.

Quick revision: PM-SETU upgrades 1,000 ITIs (PIB, 29 July 2026).

Government Schemes

Cabinet approves PM Surya Sarovar Yojana for floating solar, Rs 5,070 crore

31 July 2026 | Press Information Bureau

PIB said the Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) for Floating Solar Photovoltaic projects with Energy Storage Systems, with a total outlay of Rs 5,070 crore. It envisages 5,000 MW of floating solar with co-located storage of at least two hours (10,000 MWh).

Projects will be sanctioned during FY 2026-27 to FY 2030-31. Central Financial Assistance is Rs 1 crore per MW after commissioning, plus up to Rs 50 lakh per project for feasibility studies. NISE estimated floating solar potential of about 102.18 GWp.

Exam takeaway: Floating solar uses reservoirs and inland water bodies.

Quick revision: PM-SSY: Rs 5,070 crore for floating solar (PIB, 31 July 2026).

Government Schemes

Cabinet approves Samudra Manthan National Offshore Exploration Scheme, Rs 84,084 crore

31 July 2026 | Press Information Bureau

PIB said the Union Cabinet approved Samudra Manthan, the National Offshore Exploration Scheme, a Central Sector Scheme of the Ministry of Petroleum and Natural Gas, with an outlay of Rs 84,084 crore up to FY 2030-31. It reflects the Prime Minister's vision articulated from the Red Fort on Independence Day 2025.

It provides for seismic data acquisition, deepwater and ultra-deepwater exploratory drilling, scientific drilling in frontier basins, common offshore production infrastructure and an integrated Oil and Gas Manufacturing and Services Zone.

Exam takeaway: The scheme targets energy security through offshore exploration.

Quick revision: Samudra Manthan: Rs 84,084 crore (PIB, 31 July 2026).

Government Schemes

Cabinet approves continuation of PM-KISAN from 2026-27 to 2030-31, Rs 3.15 lakh crore

31 July 2026 | Press Information Bureau

PIB said the Union Cabinet approved continuation of PM-KISAN from 2026-27 to 2030-31 with an outlay of Rs 3.15 lakh crore. Eligible landholding farmer families receive Rs 6,000 a year in three equal instalments through DBT; the scheme was launched in February 2019.

More than Rs 4.47 lakh crore has been transferred through 23 instalments. The 23rd instalment benefited more than 9.49 crore farmers with over Rs 18,984 crore released.

Exam takeaway: PM-KISAN uses Aadhaar authentication and DBT.

Quick revision: PM-KISAN continued to 2030-31, Rs 3.15 lakh crore (PIB, 31 July 2026).

National and International Affairs

Indian Railways carries 142 million tonnes in June 2026

2 July 2026 | Press Information Bureau

PIB said Indian Railways carried 142 million tonnes of freight in June 2026. Fertilizer loading grew by 19.1 per cent, iron ore by 9.4 per cent and coal supply to power plants by 7 per cent over the previous year's month.

Freight loading crossed 419 million tonnes in the first quarter of FY 2026-27, surpassing the first quarter of FY 2025-26. Passenger traffic reached nearly 64 crore, served by 164 Vande Bharat and 72 Amrit Bharat services during the summer.

Exam takeaway: Railway freight is a key logistics indicator.

Quick revision: Railways freight 142 MT in June 2026; Q1 above 419 MT (PIB).

National and International Affairs

DAC accords AoN for proposals worth about Rs 52,000 crore

3 July 2026 | Press Information Bureau

PIB said the Defence Acquisition Council (DAC), chaired by Raksha Mantri Rajnath Singh, on 3 July 2026 accorded Acceptance of Necessity (AoN), an in-principle administrative approval, to acquisition proposals worth about Rs 52,000 crore.

For the Army, approvals cover the anti-UAV electronic warfare system AKASH TARANG, Man Portable Anti-Tank Guided Missile systems, the MRSAM weapon system, V-SHORADS, an Active Protection System for tanks and a jet-based kamikaze drone system.

Exam takeaway: AoN is the first formal step in the defence procurement process.

Quick revision: DAC AoN for about Rs 52,000 crore (PIB, 3 July 2026).

National and International Affairs

India-Israel Bilateral Investment Agreement comes into force

4 July 2026 | Press Information Bureau

PIB said the Bilateral Investment Agreement (BIA) between India and Israel, signed on 8 September 2025 in New Delhi, entered into force on 4 July 2026.

The release calls it a step towards strengthening bilateral economic relations and a secure, predictable investment climate, with protection for investments and investors while retaining sovereign policy space for legitimate public policy objectives.

Exam takeaway: A BIA protects investors of each country in the other.

Quick revision: India-Israel BIA in force from 4 July 2026 (PIB).

National and International Affairs

Steel Minister H.D. Kumaraswamy reviews IISCO Steel Plant expansion at Burnpur

12 July 2026 | Press Information Bureau

PIB said Union Minister for Steel and Heavy Industries H.D. Kumaraswamy on Sunday, 12 July 2026, began a three-day visit to West Bengal with a review of the IISCO Steel Plant (ISP) at Burnpur, one of the country's oldest integrated steel plants under the Steel Authority of India Limited (SAIL).

The review covered ongoing expansion projects, production facilities, infrastructure, sustainability initiatives and workforce welfare. The minister was received by SAIL Chairman and Managing Director Ashok Kumar Panda.

Exam takeaway: IISCO is a SAIL integrated steel plant in West Bengal.

Quick revision: Kumaraswamy reviews IISCO Steel Plant at Burnpur (PIB, 12 July 2026).

National and International Affairs

CCPA initiates suo motu action against 41 restaurants over default service charge

19 July 2026 | Press Information Bureau

PIB said the Central Consumer Protection Authority (CCPA) initiated suo motu action against 41 restaurants across the country for levying service charge by default on consumers' bills. The action followed complaints received through the National Consumer Helpline (NCH), supported by invoices.

CCPA found that the automatic levy violated its guidelines on service charge in hotels and restaurants and amounts to an unfair trade practice under Section 2(47) of the Consumer Protection Act, 2019.

Exam takeaway: Unfair trade practice is defined in Section 2(47) of the Consumer Protection Act, 2019.

Quick revision: CCPA acts against 41 restaurants over service charge (PIB, 19 July 2026).

National and International Affairs

All-party meeting ahead of Monsoon Session of Parliament 2026

19 July 2026 | Press Information Bureau

PIB said a meeting of leaders of political parties was held on 19 July 2026 at the Parliament House Complex, New Delhi, chaired by Defence Minister Rajnath Singh, to discuss issues relating to the ensuing Monsoon Session of Parliament, 2026. It was called by Parliamentary Affairs Minister Kiren Rijiju.

In total, 58 leaders from 40 political parties, including Ministers, attended.

Exam takeaway: The all-party meeting precedes each Parliament session.

Quick revision: All-party meeting held before Monsoon Session 2026 (PIB, 19 July).

National and International Affairs

Dharmendra Pradhan's resignation accepted; Pralhad Joshi given Education Ministry charge

25 July 2026 | Press Information Bureau

A PIB press communique of 25 July 2026 said the President, as advised by the Prime Minister, accepted the resignation of Dharmendra Pradhan from the Union Council of Ministers with immediate effect under clause (2) of Article 75 of the Constitution.

The President also directed that Cabinet Minister Pralhad Joshi be assigned the charge of the Ministry of Education in addition to his existing portfolio. A PIB communique of 24 July 2026 had likewise recorded the acceptance of the resignation of Ravneet Singh from the Union Council of Ministers.

Exam takeaway: Article 75(2) says Ministers hold office during the pleasure of the President.

Quick revision: Pradhan resigns; Joshi gets Education charge (PIB, 25 July 2026).

National and International Affairs

DRI seizes over 27 kg smuggled gold in nationwide operations; 12 arrested

25 July 2026 | Press Information Bureau

PIB said the Directorate of Revenue Intelligence (DRI) carried out intelligence-led operations across the country that led to the seizure of over 27 kg of foreign-origin smuggled gold and the arrest of 12 persons.

At Mumbai, DRI intercepted three passengers arriving from Addis Ababa on 23-24 July 2026 and recovered 6 gold bars weighing about 12 kg concealed in the ceiling panels of an aircraft's rear lavatory.

Exam takeaway: DRI is the apex anti-smuggling agency under the Central Board of Indirect Taxes and Customs.

Quick revision: DRI seizes 27 kg gold, 12 arrested (PIB, 25 July 2026).

National and International Affairs

PM announces high-powered task force on examination reforms under Nandan Nilekani

26 July 2026 | Press Information Bureau

PIB said Prime Minister Narendra Modi announced on 26 July 2026 that a high-powered task force on examination reforms has been constituted under the leadership of Nandan Nilekani. The Prime Minister shared the announcement in a post on X.

The PIB release does not give the task force's terms of reference or members.

Exam takeaway: The task force was announced after the Ministry of Education changed hands on 25 July 2026.

Quick revision: Nilekani to lead exam reforms task force (PIB, 26 July 2026).

National and International Affairs

Rajya Sabha passes Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026

30 July 2026 | Press Information Bureau

PIB said the Rajya Sabha on 30 July 2026 passed the Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026, as passed by the Lok Sabha, by voice vote.

Replying to the discussion, Dr Jitendra Singh said the Bill is not confined to question paper leaks alone and seeks to prevent the entire spectrum of unfair means in public examinations.

Exam takeaway: The original Act is the Public Examinations (Prevention of Unfair Means) Act, 2024.

Quick revision: Rajya Sabha passes public examinations amendment bill (PIB, 30 July 2026).

Reports, Indices, Science and Technology

Five semiconductor plants expected to start production in India by end of 2026

4 July 2026 | Press Information Bureau

PIB reported Union Minister Ashwini Vaishnaw as saying five semiconductor plants are expected to start production in India by the end of 2026, and that India has entered a new era in the semiconductor sector.

The release carries the minister's post on a facility, CG Semi at Sanand, beginning commercial production, and says young women from several states are finding employment there.

Exam takeaway: The semiconductor push supports self-reliance in electronics.

Quick revision: Five semiconductor plants expected in production by end-2026 (PIB, 4 July).

Reports, Indices, Science and Technology

91st meeting of the Standing Committee of the National Board for Wildlife held at Coimbatore

9 July 2026 | Press Information Bureau

PIB said Union Environment Minister Bhupender Yadav chaired the 91st meeting of the Standing Committee of the National Board for Wildlife (SC-NBWL) on 9 July 2026 at the Central Academy for State Forest Service, Coimbatore.

The minister's post said the meeting received 118 proposals related to infrastructure and defence from State governments. The committee reviewed progress on directions from earlier NBWL meetings and stressed science-based wildlife conservation and ecological connectivity.

Exam takeaway: SC-NBWL clears projects affecting wildlife areas.

Quick revision: 91st SC-NBWL meeting chaired by Bhupender Yadav at Coimbatore (PIB, 9 July).

Reports, Indices, Science and Technology

RBI Bulletin July 2026: State of the Economy

22 July 2026 | Reserve Bank of India

The RBI released the July 2026 issue of its monthly Bulletin on 22 July 2026. It includes two speeches, one article and current statistics. The article is on the State of the Economy.

The article says headline retail inflation inched up in June while core inflation, especially excluding precious metals, remained low. Liquidity conditions improved further, supporting robust credit growth, and the external sector remains steady, aided by inflows of foreign investment. The views are those of the authors and not of the RBI.

Exam takeaway: The RBI Bulletin is a monthly publication.

Quick revision: RBI Bulletin July 2026 released (RBI, 22 July).

Reports, Indices, Science and Technology

MoSPI: GDP base year revised from 2011-12 to 2022-23

22 July 2026 | Press Information Bureau

PIB said the Ministry of Statistics and Programme Implementation (MoSPI) has undertaken comprehensive base revision exercises for GDP, the Index of Industrial Production and the Consumer Price Index. The GDP base year has been revised from 2011-12 to 2022-23 based on recommendations of the Advisory Committee on National Accounts Statistics (ACNAS).

The release also notes modernisation of national sample surveys through digital platforms such as Computer Assisted Personal Interview and the e-SIGMA system.

Exam takeaway: MoSPI compiles GDP, IIP and CPI.

Quick revision: MoSPI GDP base revised to 2022-23 (PIB, 22 July 2026).

Reports, Indices, Science and Technology

India's forex reserves at USD 676,237 million (week ended 17 July 2026)

24 July 2026 | Reserve Bank of India

This item is carried forward from the RBI Weekly Statistical Supplement released on 24 July 2026 and reported in the 25 July edition. Total foreign exchange reserves stood at Rs 65,11,163 crore (USD 676,237 million) as on 17 July 2026.

The reserves rose by USD 1,080 million over the week, and were lower by USD 14,871 million than at end-March 2026.

Exam takeaway: Reserves comprise foreign currency assets, gold, SDRs and the reserve position in the IMF.

Quick revision: Forex reserves USD 676,237 million as on 17 July 2026 (RBI WSS).

Reports, Indices, Science and Technology

MoSPI trial Index of Services Production covers 19 sub-sectors

27 July 2026 | Press Information Bureau

PIB said MoSPI released the trial Index of Services Production (ISP) on 14 July 2026. It covers 19 sub-sectors using monthly GST outward supplies data and other administrative data, and trial releases seek stakeholder feedback on the methodology.

The ISP covers the formal sector. The Annual Survey of Unincorporated Sector Enterprises (ASUSE) measures the unincorporated sector and publishes quarterly and annual results.

Exam takeaway: The ISP is a services-sector counterpart of the IIP.

Quick revision: Trial Index of Services Production, 19 sub-sectors (PIB, 27 July 2026).

Reports, Indices, Science and Technology

Electronics production up seven-fold to over Rs 13 lakh crore in 12 years

29 July 2026 | Press Information Bureau

PIB said electronics production has grown seven-fold to over Rs 13 lakh crore and exports eleven-fold to over Rs 4 lakh crore in the last 12 years. The electronics manufacturing ecosystem supports around 25 lakh jobs.

Mobile manufacturing employs around 12 lakh people, and women constitute nearly 70 per cent of the workforce in high-precision manufacturing segments.

Exam takeaway: The strategy moved from finished products to components and machinery.

Quick revision: Electronics production over Rs 13 lakh crore (PIB, 29 July 2026).

Reports, Indices, Science and Technology

IndiaAI Mission: 762 use cases, 58 Centres of Excellence and 543 Data and AI Labs

29 July 2026 | Press Information Bureau

PIB said the IndiaAI Mission has identified 762 AI use cases across 62 Ministries and approved 58 AI Centres of Excellence and 543 Data and AI Labs. The Mission is supported by seven pillars, including the IndiaAI Compute Pillar, Foundation Models and the IndiaAI Application Development Initiative.

The release cites the IT sector's annual revenue of 300 billion dollars and a workforce of 60 lakh.

Exam takeaway: IndiaAI Foundation Models pillar targets indigenous LLMs.

Quick revision: IndiaAI Mission: 762 use cases, 58 CoEs (PIB, 29 July 2026).

Appointments, Awards and Important Days

UPSC invites applications for direct recruitment, Advertisement No. 08/2026

11 July 2026 | Press Information Bureau

PIB said the UPSC invites applications for direct recruitment to various posts in the Government of India under Advertisement No. 08/2026 on upsc.gov.in.

Candidates can apply through the Online Recruitment Application portal from 11 July 2026 to 31 July 2026.

Exam takeaway: Read the advertisement for posts and eligibility before applying.

Quick revision: UPSC Advt 08/2026: apply 11 to 31 July 2026 (PIB).

Appointments, 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.

Exam takeaway: ACC approves appointments of Secretaries to the Government of India.

Quick revision: Tummala appointed MoES Secretary (PIB, 16 July 2026).

Appointments, Awards and Important Days

Anurag Kumar appointed Delhi Police Commissioner (carried forward from 17 July 2026)

17 July 2026 | The Indian Express and Hindustan Times (primary order not read)

This item is carried forward from 17 July 2026 and attributed to media reports, as the MHA order itself was not read. The Indian Express reported that the Union Home Ministry removed Delhi Police Commissioner Satish Golcha and appointed Anurag Kumar, a 1994-batch IPS (AGMUT cadre) officer, for three years.

Hindustan Times reported that Kumar took charge at the Delhi Police headquarters on Friday, 17 July 2026.

Exam takeaway: Delhi Police is under the Ministry of Home Affairs.

Quick revision: Anurag Kumar named Delhi Police Commissioner (Indian Express, HT, 17 July).

Appointments, Awards and Important Days

Anurag Jain appointed CEO of NITI Aayog

22 July 2026 | BusinessLine and CNBC-TV18 (primary DoPT order not read)

Media reports of 22 July 2026 said the Appointments Committee of the Cabinet approved Anurag Jain, a 1989-batch IAS officer of the Madhya Pradesh cadre, as CEO of NITI Aayog. The primary DoPT order was not read; outlets differ on whether the order was issued on Tuesday or Wednesday.

BusinessLine reported that the ACC also approved his tenure in service and thereafter on contract for an overall period of two years or until further orders.

Exam takeaway: NITI Aayog's CEO holds the rank of Secretary to the Government of India.

Quick revision: Anurag Jain named NITI Aayog CEO (BusinessLine, CNBC-TV18).

Appointments, Awards and Important Days

Pralhad Joshi takes charge of the Ministry of Education

26 July 2026 | Press Information Bureau

PIB said Union Minister Pralhad Joshi officially took charge of the Ministry of Education at Kartavya Bhavan on 26 July 2026. He also holds the Ministries of Consumer Affairs, Food and Public Distribution, and New and Renewable Energy.

He chaired a review meeting of the Ministry, attended by Minister of State Jayant Chaudhary, Higher Education Secretary Dr Vineet Joshi and School Education Secretary T. K. Anil Kumar.

Exam takeaway: A Minister can hold additional charge of another ministry.

Quick revision: Joshi takes charge of Education (PIB, 26 July 2026).