69 results for “Economy & Banking Current Affairs”
Coastal Local Area Bank Limited, headquartered in Vijayawada, was included in the Second Schedule to the Reserve Bank of India Act, 1934, and received scheduled bank status. The Reserve Bank of India issued the inclusion through Notification DoR.LIC.No.S3539/22-03-070/2026-27, and the notification was published in the Gazette of India.
The Government of India sold about 4,000 tonnes of buffer onions across 17 cities during the first ten days of its subsidised retail intervention in 2026. The central buffer stock for the year 2026 stands at 1.21 lakh tonnes, and the onions are being sold at Rs 35 per kg in selected price-sensitive markets.
India’s direct tax buoyancy remained above 1 for the third consecutive financial year, with the figure at 1.39 in 2024–25. Direct tax buoyancy measures the rate of growth in direct tax collections relative to the rate of growth in nominal Gross Domestic Product.
On 5 September 2026, ICICI Bank stated in a regulatory filing that the Reserve Bank of India had approved the Life Insurance Corporation of India to acquire an aggregate holding of up to 9.99% in the bank. The approval letter was received by ICICI Bank on 4 September 2026 at 9:09 PM, and the RBI set a validity period of one year from the date of the letter for completion of the acquisition.
GIFT City International Financial Services Centre (IFSC) in Gujarat has expanded its banking activity through External Commercial Borrowings, FCNR(B) swap mobilisations, and international bond listings. The International Financial Services Centres Authority (IFSCA) recorded large-scale participation by domestic and foreign International Banking Units (IBUs) under the Reserve Bank of India’s special swap facility for Foreign Currency Non-Resident (Bank) deposits.
The Ministry of Statistics and Programme Implementation (MoSPI) released India’s Gross Domestic Product estimates for the first quarter of 2026–27 with real growth of 7.8% under the 2022–23 base year. On 2 September 2026, MoSPI issued a clarification on the negative 1.5% implicit Gross Value Added deflator in manufacturing and on the use of the double-deflation method in national accounts.
The Insurance Regulatory and Development Authority of India (IRDAI) released a consultation paper on 1 September 2026 for a proposed Public Insurance Registry (PIR). The PIR is planned as an interoperable digital public infrastructure for the insurance sector in India.
The Ministry of Consumer Affairs, Food and Public Distribution reduced the sugar stock holding limit for dealers and traders to 2,000 quintals on 1 September 2026. The earlier limit was 4,000 quintals, and the revised cap will apply from 15 September 2026 to 30 November 2026.
India plans to build 100 new airports over the next 10 years under the regional connectivity framework known as UDAN. The expansion is linked to the Modified UDAN scheme, which has a central budgetary outlay of ₹28,840 crore for FY 2026–27 to FY 2035–36.
The Japan Credit Rating Agency (JCR) upgraded India’s foreign currency and local currency long-term issuer ratings to A- from BBB+ on 2 September 2026. JCR also assigned a Stable outlook and raised India’s country ceiling to A.
The National Commodity & Derivatives Exchange Limited (NCDEX) launched RAINCHNNAI, a weather futures contract for Chennai’s Northeast monsoon. The contract is cash-settled, uses official rainfall data from the India Meteorological Department (IMD), and is linked to rainfall recorded at the Meenambakkam and Nungambakkam weather stations in Chennai.
The Ministry of Statistics and Programme Implementation released the National Accounts Statistics 2026 on 31 August 2026. The publication contains 60 statements based on updated Final Estimates for FY 2022–23 and FY 2023–24, First Revised Estimates for FY 2024–25, and revised macroeconomic indicators for FY 2025–26.