Banking and RBI
RBI overnight VRRR auction of 24 September 2026: result
24 September 2026 | Reserve Bank of India
The RBI's result for the Overnight Variable Rate Reverse Repo (VRRR) auction held on 24 September 2026 showed a notified amount of Rs 1,25,000 crore, with offers of Rs 1,01,399 crore all accepted.
The cut-off rate and the weighted average rate were both 5.24 per cent.
Key facts- Auction date: 24 September 2026
- Notified amount: Rs 1,25,000 crore
- Accepted: Rs 1,01,399 crore
- Cut-off rate: 5.24 per cent
Exam takeaway: Full acceptance means partial acceptance did not apply.
Quick revision: RBI VRRR result (24 September 2026).
Reserve Bank of India original sourceBanking and RBI
RBI imposes Rs 3.10 lakh penalty on Ola Financial Services for KYC non-compliance
24 September 2026 | Reserve Bank of India
By an order dated 24 September 2026 the RBI imposed a monetary penalty of Rs 3.10 lakh on Ola Financial Services Private Limited for non-compliance with its Know Your Customer (KYC) directions, under section 30(1) read with section 26(6) of the Payment and Settlement Systems Act, 2007.
The sustained charge was that the company failed to carry out risk categorisation of certain customers. The statutory inspection covered January 2025 to November 2025.
Key facts- Penalty: Rs 3.10 lakh
- Entity: Ola Financial Services Private Limited
- Law: Payment and Settlement Systems Act, 2007
- Charge: failure to risk-categorise certain customers
Exam takeaway: The action rests on supervisory findings and does not comment on the validity of any transaction.
Quick revision: RBI penalty on Ola Financial Services (24 September 2026).
Reserve Bank of India original sourceEconomy and Finance
SEBI Board's 215th meeting: new Portfolio Managers Regulations, 2026 approved
24 September 2026 | Securities and Exchange Board of India
The 215th meeting of the SEBI Board was held in Mumbai on 24 September 2026. The Board approved introducing the SEBI (Portfolio Managers) Regulations, 2026 in supersession of the 2020 Regulations, aiming at development of the PMS industry, ease of compliance, consolidation of provisions and removal of redundant provisions.
Key measures include permitting investment in IPOs and primary market issuance in the debt market, and enabling investment of up to 10% of client AUM in investment-grade, non-convertible, unlisted debt securities under Discretionary Portfolio Management Services with client consent.
Key facts- Meeting: 215th SEBI Board meeting
- Date: 24 September 2026
- Replaces: Portfolio Managers Regulations, 2020
- Unlisted debt limit under DPMS: up to 10% of client AUM
Exam takeaway: The Board also approved the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026.
Quick revision: SEBI Board meeting (24 September 2026).
Securities and Exchange Board of India original source Full release (SEBI PDF)Economy and Finance
SEBI Settlement Regulations, 2026 approved with a new settlement amount formula
24 September 2026 | Securities and Exchange Board of India
At its 24 September 2026 meeting the SEBI Board approved the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026, replacing the SEBI (Settlement Proceedings) Regulations, 2018. They come into force the day after the 30th day from notification.
Settlement Amount is computed as Base Amount x (S + R + G + A - M) + Legal Costs, and wrongful gains are disgorged separately to remove double counting. Before a show cause notice, SEBI will issue a settlement notice giving 60 days to file a settlement application.
Key facts- Replaces: Settlement Proceedings Regulations, 2018
- Formula: Base Amount x (S+R+G+A-M) + Legal Costs
- Settlement notice window: 60 days
- Non-monetary terms renamed: Remedial and Regulatory Terms
Exam takeaway: The factors S, R, G, A and M stand for stage, regulatory action, gravity, aggravating and mitigating.
Quick revision: SEBI Settlement Regulations (24 September 2026).
Securities and Exchange Board of India original source Full release (SEBI PDF)