Recent Current Affairs related to RBI

According to the “Global Economic Outlook - September 2026” report released by Fitch Ratings, the GDP growth forecast of India for the FY27 has been raised by 50 bps to 6.9% from the earlier projection of 6.4%.

The rating agency also projected that the headline inflation of India will increase to 5.5% by December 2026.

PayGlocal, a cross-border payments company, has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to establish a Payment Service Provider (PSP) in the Gujarat International Finance Tec-City (GIFT) City in Gandhinagar, Gujarat.

According to the “OECD Economic Outlook, Interim Report September 2026: Weathering Successive Shocks” released by the Organisation for Economic Cooperation and Development (OECD), the Gross Domestic Product (GDP) growth of India for FY27 is revised upwards by 80 basis points (bps) to 7.1% from the earlier 6.3%.

The growth for FY28 is projected at 6.5%. The report also estimated the inflation of India for FY27 and FY28 at 4.7% and 4.2% respectively.

RBI has issued final directions titled ‘RBI (Commercial Banks - Minimum Capital Requirements for Market Risk) Directions, 2026’ outlining the minimum capital requirement for market risk under the Basel III framework for commercial banks. The new framework will come into effect on April 1, 2027.

Additionally, the RBI has eased KYC requirements for Foreign Portfolio Investors (FPIs), allowing them to submit original certified copies of specified documents certified by authorised authorities outside India. These directions came into force with immediate effect from September 18, 2026.

RBI has issued directions to alter the valuation norms for units of Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) held by All-India Financial Institutions (AIFIs).

The revised valuation directions came into effect immediately. It is to be noted that the India REIT market hits $17.7 billion, overtakes Hong Kong to become Asia’s 4th largest.

According to the report “Economic Outlook Asia-Pacific Q4 2026: Exports, Domestic Demand Will Shore Up Growth” released by S&P Global Ratings, the GDP growth of India for FY27 is revised upwards to 7% from 6.6%.

The growth for FY28, FY29, and FY30 is projected at 7.2%, 7%, and 6.8% respectively.

RNFI Money Pvt Ltd, a wholly owned subsidiary of RNFI Services Ltd, has received regulatory approval from the RBI to facilitate cross-border trade remittances.

The National Stock Exchange of India (NSE) has facilitated the first tokenized bond issuances in India worth ₹1,000 crore on its Electronic Bidding Platform (NSE EBP) under the SEBI “Regulatory Sandbox Framework, 2020”.

The RBI has cancelled the Certificates of Registration (CoR) of 5 Non-Banking Financial Companies (NBFCs) and accepted the surrender of licenses from 8 other NBFCs.

These regulatory actions were taken due to entities exiting the Non-Banking Financial Institution (NBFI) business, corporate mergers, and adjustments in regulatory compliance requirements.

According to a report by Moodys Ratings, the real Gross Domestic Product (GDP) growth forecast of India for the FY27 is revised upwards to 7% from the earlier estimate of 6%. The inflation rate for FY27 is projected at 4.8%.

According to the “Survey on Computer Software and Information Technology Enabled Services (ITES) Exports: 2025-26” released by the RBI, the software services exports of India grew by 8.2% year-on-year to reach $221.4 billion.

The USA remains the top destination for these exports, accounting for 54.1% of the total export volume.

According to a report by the Asian Development Bank (ADB), the GDP growth forecast of India for FY27 is revised to 7% from the earlier estimate of 6.6% in July.

novio, operated by Credilio Financial Technologies Pvt Ltd, has partnered with the Indian Overseas Bank to launch a co-branded RuPay credit card.

The UPI and Services Committee, led by the National Payments Corporation of India (NPCI), has introduced a revised Merchant Discount Rate (MDR) framework, effective from October 15, 2026. Under the new rules, a 0.4% charge will be applied to UPI transactions above ₹2,000.

A flat MDR of ₹5 per transaction will apply to payments exceeding ₹2,000 in specific sectors like railways, telecommunications, insurance, and fuel. For capital market transactions, including mutual funds and stockbroking, the MDR is set at 0.02% of the transaction value, capped at ₹300.

RNFI Services Ltd, a fintech platform, has secured in-principle authorisation from the RBI to operate as a Payment Aggregator-Physical (PA-P). The authorisation was granted under the Payment and Settlement Systems Act, 2007.

The RBI has approved the acquisition of an aggregate holding of up to 9.95% of the paid-up share capital or voting rights in the CSB Bank by the ICICI Prudential Asset Management Company (AMC).

The RBI has released the June 2026 edition of the biannual “Financial Stability Report” (FSR), which presents an assessment by the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to the financial system of India.

According to the report, the economy of India grew at 7.7% in FY26. The Monetary Policy Committee (MPC) has revised the inflation projection for the 2026-27 period to 5.1%. The foreign exchange reserves of India were recorded at $672.6 billion as of June 19, 2026.

The RBI has included Coastal Local Area Bank Ltd in the Second Schedule of the RBI Act, 1934. Headquartered in Vijayawada, Andhra Pradesh, it is the first Local Area Bank (LAB) of India.

According to a report by the Japan Credit Rating Agency (JCRA), the Foreign Currency and Local Currency Long-term Issuer Ratings of India were upgraded to “A-” from “BBB+” with a stable outlook. This upgrade comes after a gap of 35 years.

JCRA also upgraded the country ceiling for India to “A”. The report projected the fiscal deficit of the Central Government to decrease from 4.7% in FY25 to 4.4% in FY26.

India Post Payments Bank (IPPB) has launched the ‘DakPay Sound Box’ for Merchants, a Digital Insurance Technology Platform, and a Digital Mutual Fund Platform on the occasion of its 9th foundation day to boost financial inclusion.

As of March 2026, IPPB has achieved a customer base of 13.25 crore, with women making up 49% of the total users.