Recent Current Affairs related to RBI

According to the 101st Survey of Professional Forecasters (SPF) released by the RBI, the real Gross Domestic Product (GDP) growth of India is projected at 6.6% for FY27 (up from 6.5% estimated in the 100th SPF) and 7.0% for FY28.

The panellists placed the overall real GDP growth forecasts in the range of 6.0-7.2% for FY27 and 6.5-7.8% for FY28. The quarterly real GDP growth is projected at 6.8% (year-on-year) during Q1 FY27, and is expected to remain within the range of 6.4-7.0% over the subsequent four quarters.

Muthoot FinCorp Ltd, a Non-Banking Financial Company (NBFC), has secured a perpetual Authorised Dealer Category-II (AD-II) foreign exchange (Forex) licence from the RBI. The licence enables the NBFC to offer a wider range of regulated forex services.

The RBI has extended the implementation timeline of its revised framework governing loan recovery and engagement of recovery agents from October 1, 2026 to January 1, 2027.

Under the revised directions, existing recovery agents who were not previously covered are granted a 1-year transition window to obtain certification from the Indian Institute of Banking and Finance (IIBF) or an affiliated institute.

Indel Remit, the foreign exchange division of Indel Money Ltd, has secured a perpetual Authorised Dealer-II (AD-II) licence from the RBI to offer trade remittance services.

Under RBI directions, the company is restricted from processing gifts, donations, and transactions exceeding ₹25 lakh.

The RBI has identified 17 Non-Banking Financial Companies (NBFCs) for inclusion in the Upper Layer (NBFC-UL) for FY27, based on their financial position as of March 31, 2026.

Tata Sons continues to be categorized under the upper-layer list. The new entities added to the list include Rural Electrification Corporation (REC) Ltd, Power Finance Corporation (PFC) Ltd, Indian Railway Finance Corporation (IRFC) Ltd, and Housing and Urban Development Corporation (HUDCO) Ltd.

The 62nd and 3rd Bi-monthly Monetary Policy Committee (MPC) meeting of FY27 was held under the chairmanship of Sanjay Malhotra, Governor of the RBI.

The MPC voted unanimously to keep the policy repo rate under the Liquidity Adjustment Facility (LAF) unchanged at 5.25%, while maintaining a “Neutral” stance. The Standing Deposit Facility (SDF) rate remains at 5%, and both the Marginal Standing Facility (MSF) rate and the Bank Rate are maintained at 5.5%.

The RBI has revised the Gross Domestic Product (GDP) growth forecast of India for FY27 upward to 6.7% from its previous projection of 6.6%. The Consumer Price Index (CPI) inflation for FY27 is projected at 5%.

RBI has granted Authorised Dealer Category II (AD II) licences to Niyo Forex (via Kanji Forex Pvt Ltd) and GlobalPay (WSFx Global Pay Ltd).

While Niyo Forex received a perpetual licence, GlobalPay secured an expanded perpetual licence under the updated Foreign Exchange Management Act (FEMA) 2026. It is to be noted that these licences facilitate inward and outward trade remittances up to a limit of ₹25 lakh.

The RBI has appointed Monisha Chakraborty as an Executive Director (ED), effective from August 3, 2026. In her new role, she will oversee the Foreign Exchange Department (FED) and the Financial Markets Regulation Department (FMRD).

The RBI has deferred the implementation of the revised Basel Pillar III disclosure framework for banks by 6 months, setting the new effective date for April 1, 2027. The decision was taken in response to implementation challenges raised by stakeholders.

The revised framework, applicable to Commercial Banks (CB), Small Finance Banks (SFB), and Payments Banks (PB), was initially scheduled for implementation by the quarter ending September 30, 2026. The RBI has aligned these disclosure requirements with the Expected Credit Loss (ECL) framework for capital charge for credit risk under the standardised approach, which is also effective from April 2027.

According to the report titled "Prelude to Monetary Policy Committee (MPC) Meeting: August 3-5, 2026 Peace in a piecemeal manner" released by the Economic Research Department of the SBI, India's GDP growth for Q1 FY27 is projected at 7%.

The report stated that inflation stood at 3.9% during Q1 FY27. It further projects that the Consumer Price Inflation (CPI) will remain above 5% during the next two quarters of FY27, with an overall inflation projection of 5% for the full financial year.

The Government of India has approved the RBI proposal to conduct field trials of polymer banknotes in ₹10 and ₹20 denominations. The trial involves introducing 100 crore banknotes of each denomination, amounting to a total value of ₹3,000 crore.

This proposal was submitted by the RBI, upon the recommendation of its Central Board, in accordance with Section 25 of the Reserve Bank of India Act, 1934. It is to be noted that polymer banknotes are printed on non-fibrous and non-porous polymer material.

Eroute Technologies Pvt Ltd has launched India's first 'Flexi Benefits Basket' on the UPI via its OmniCard platform.

It is an employee-controlled digital wallet designed for tax-efficient spending across multiple benefit categories. The platform is built on a RBI-licensed Prepaid Payment Instrument (PPI) infrastructure and is accepted at 60 million UPI-enabled merchant outlets.

Hyderabad-based VIYONA Fintech, a fintech infrastructure startup, has received approval from the Bharat Bill Payment System (BBPS), now rebranded as Bharat Connect, to operate as a Customer Operating Unit (COU).

This authorization enables the startup to provide interoperable digital bill payment services across India.

Union Minister Amit Shah virtually inaugurated 'Sahakar Bhavan', the new headquarters of the Jamnagar District Cooperative Bank in Jamnagar, Gujarat. The project was completed at a cost of Rs 25 crore.

EbixCash World Money Ltd has become the first Authorised Dealer Category-II (AD-II) entity in India to receive authorization from the RBI to facilitate trade and family maintenance remittances, a domain previously dominated by banks.

The enhanced licence permits EbixCash to process trade remittances up to ₹25 lakh per transaction. Furthermore, the entity has received authorization to maintain Nostro accounts, enabling the direct settlement of international transactions without routing them through intermediary correspondent banks.

RBI has approved the acquisition of the fraud-hit Aviom India Housing Finance by the Areion Group for ₹936 crore, marking a milestone in the company's insolvency resolution process.

The RBI has also granted 'fit-and-proper' approval to Manish Lalwani, the promoter of the Areion Group. It is to be noted that this approval is mandatory for changing the control of a regulated financial institution.

According to provisional data released by the RBI, India's outward Foreign Direct Investment (FDI) declined by 47.9% year-on-year (Y-o-Y) to $3 billion in June 2026, compared to $5.74 billion in June 2025.

The decline was observed across all three components of outward FDI commitments: equity, debt, and guarantees. In June 2026, equity commitments stood at $738 million, debt at $469.87 million, and guarantees at $1.78 billion. The largest FDI equity commitments were recorded by ONGC Videsh Rovuma Ltd (OVRL), followed by Lenskart and GFCL EV products.

RBI has released the composite Financial Inclusion Index (FI-Index) for FY26, which increased to 70 in March 2026 from 67 in March 2025.

RBI has also issued new "Prudential Norms on Specified Non-Financial Asset (SNFA) acquired by Regulated Entities" to tighten regulations governing the resolution of distressed loans. This framework will come into effect on October 1, 2026.

Delhivery Financial Services Pvt Ltd, a subsidiary of Delhivery Ltd, has received the Certificate of Registration (CoR) from the RBI to operate as a Type-II Non-Banking Financial Company-Non-Deposit Taking (NBFC-ND).

RBI has launched the July 2026 round of three household surveys to gather inputs for the upcoming Monetary Policy Committee (MPC) meeting. The Inflation Expectations Survey of Households (IESH) collects data on price movements from 19 major cities, covering current, 3-month-ahead, and 1-year-ahead inflation expectations.

The Urban Consumer Confidence Survey (UCCS) monitors qualitative responses from urban households in 19 cities regarding economic sentiment, including employment, income, spending, and the general economic situation.

The Rural Consumer Confidence Survey (RCCS) assesses economic confidence and expectations for rural and semi-urban households across 31 States and Union Territories (UTs).