Banking and RBI
Government announces Rs 30,000 crore conversion/switch of securities, auction on 21 September 2026
16 September 2026 (announcement) | Reserve Bank of India
RBI announced that the Government of India will conduct a conversion/switch of its securities through auction for an aggregate Rs 30,000 crore (face value), scheduled for 21 September 2026. Source securities include 8.26% GS 2027 (Rs 2,000 crore) switched into 7.19% GS 2060, and 7.06% GS 2028 (Rs 4,000 crore) switched into 6.79% GS 2034.
This is an announcement; the result is a separate release.
Key facts- Aggregate switch: Rs 30,000 crore
- Auction date (scheduled): 21 September 2026
- One destination security: 7.19% GS 2060
- Another destination security: 6.79% GS 2034
Exam takeaway: A switch exchanges short-dated securities for longer ones to smooth the redemption profile.
Quick revision: G-Sec switch announced (RBI, 16 September 2026).
Reserve Bank of India original sourceBanking and RBI
SGB 2019-20 Series IV premature redemption price fixed at Rs 15,173 per unit
16 September 2026 | Reserve Bank of India
RBI announced that premature redemption of Sovereign Gold Bond SGB 2019-20 Series IV (issue date 17 September 2019) is due on 17 September 2026. The redemption price is Rs 15,173 per unit, based on the simple average of the closing price of 999-purity gold of the previous three business days as published by IBJA.
Key facts- Tranche: SGB 2019-20 Series IV
- Issue date: 17 September 2019
- Premature redemption due: 17 September 2026
- Redemption price: Rs 15,173 per unit
Exam takeaway: The price is below the Rs 15,328 of the 11 September tranche.
Quick revision: SGB 2019-20 Series IV redemption price (RBI, 16 September 2026).
Reserve Bank of India original sourceEconomy and Finance
Overnight VRRR auction of 16 September 2026: Rs 2,50,025 crore accepted with partial acceptance
16 September 2026 | Reserve Bank of India
In the overnight Variable Rate Reverse Repo auction held on 16 September 2026, against a notified amount of Rs 2,50,000 crore, offers of Rs 3,17,088 crore were received and Rs 2,50,025 crore was accepted at a cut-off rate of 5.24 per cent.
Because offers exceeded the notified amount, partial acceptance applied: 66.9 per cent of offers received at the cut-off rate were accepted.
Key facts- Notified: Rs 2,50,000 crore
- Offers received: Rs 3,17,088 crore
- Accepted: Rs 2,50,025 crore
- Partial acceptance at cut-off: 66.9%
Exam takeaway: Earlier auctions this month were all accepted in full.
Quick revision: Overnight VRRR result of 16 September (RBI).
Reserve Bank of India original sourceGovernment Schemes
Cabinet raises EPFO wage ceiling from Rs 15,000 to Rs 25,000 per month; over 51 lakh more employees covered
16 September 2026 | Press Information Bureau
PIB said the Union Cabinet, chaired by the Prime Minister, approved the Ministry of Labour and Employment's proposal to raise the wage ceiling for mandatory coverage under the Employees' Provident Fund Organisation (EPFO) from Rs 15,000 to Rs 25,000 per month. More than 51 lakh additional employees are expected to come under mandatory EPFO coverage.
The ceiling was last revised to Rs 15,000 in September 2014. Employees in the Rs 15,000 to Rs 25,000 band will gain provident fund savings, pension under the Employees' Pension Scheme (EPS) and insurance under the Employees' Deposit Linked Insurance Scheme (EDLI), as per the applicable scheme provisions.
Key facts- Old ceiling: Rs 15,000 per month
- New ceiling: Rs 25,000 per month
- Additional employees expected: over 51 lakh
- Last revised: September 2014
Exam takeaway: EPS and EDLI are the pension and insurance parts of the EPF framework.
Quick revision: EPFO wage ceiling raised (PIB, 16 September 2026).
Press Information Bureau original source