RBI and Monetary Policy

12 mentions in the news, newest first.

• 2026-09-26

  Government disburses September salary and pension in advance, RBI approves special Sunday banking, ahead of the 28 to 30 September strike

  With the United Forum of Bank Unions' three day strike, called principally over the five day banking week demand, set for 28 to 30 September 2026, the Finance Ministry's Department of Expenditure directed that the September salary and pension of all central government employees and pensioners be disbursed in advance on 25 September, to be treated as an advance payment adjusted against October's salary and pension. Separately, the Reserve Bank of India approved special functioning of all Public Sector Bank and Regional Rural Bank branches, offices, ATM linked branches and currency chests on Sunday, 27 September, so that the preceding weekend combined with the strike does not leave banking services suspended for an extended stretch running into the half yearly closing on 30 September.

• 2026-09-24

  S&P Global raises India's FY27 GDP growth forecast to 7 percent, flags a possible RBI rate hike

  S&P Global Ratings raised its GDP growth projection for India in the current fiscal year, FY27, to 7 percent, citing robust industrial activity, healthy consumption, strong goods exports and accelerating government investment, according to its Economic Activity for Asia Pacific report published on 23 September 2026. The agency also forecast that the Reserve Bank of India could raise interest rates by 25 basis points during FY27 and estimated that consumer inflation would average 5.1 percent for the year. The upgrade followed the Indian economy expanding by a higher than expected 7.8 percent in the June quarter.

• 2026-09-23

  RBI issues Amendment Directions standardising how financial institutions value InvIT and REIT units

  The Reserve Bank of India on 22 September 2026 issued the Reserve Bank of India (All India Financial Institutions, Classification, Valuation, and Operation of Investment Portfolio) Amendment Directions, 2026, alongside parallel amendment directions covering commercial banks, small finance banks, local area banks and payments banks. The amendment inserts two new provisions, Paragraph 58A for Infrastructure Investment Trusts and Paragraph 58B for Real Estate Investment Trusts, into the existing investment portfolio directions. Quoted units issued by InvITs and REITs must now be valued under the rules already applicable to quoted securities, while unquoted units are to be valued at net asset value, with stricter treatment prescribed where disclosure requirements are not met.

• 2026-09-15

  Retail inflation climbs to 4.82 percent in August, above RBI's target for third month

  India's retail inflation, measured by the Consumer Price Index, accelerated to 4.82 percent in August 2026 from 4.45 percent in July, staying above the Reserve Bank of India's 4 percent target for a third consecutive month as food prices firmed. Rural inflation rose to 5.23 percent against 4.31 percent in urban areas, while the Consumer Food Price Index climbed to 5.95 percent from 5.52 percent in July, driven by sharp increases in the prices of onion, garlic and ginger. The reading is the highest recorded under the revised 2024 CPI series, and comes as the RBI projects inflation for 2026-27 at around 5 percent.

• 2026-09-14

  RBI rejects Tata Sons' plea to remain an unlisted private company

  The Reserve Bank of India has rejected an application by Tata Sons, the holding company of the Tata Group, seeking exemption from the mandatory stock exchange listing that applies to non banking financial companies classified in the Upper Layer under RBI's scale based regulatory framework. Tata Sons was placed in the Upper Layer category in September 2022, which required listing within three years, a deadline that lapsed in September 2025 without a listing taking place. In a communication dated 11 September 2026, the central bank asked Tata Sons to take steps to ensure full compliance with the applicable guidelines, effectively making a public listing of the conglomerate's holding company unavoidable.

• 2026-09-14

  India's forex reserves jump a record 44.9 billion dollars to all time high

  India's foreign exchange reserves surged by a record 44.9 billion dollars in the week ended 4 September 2026 to reach an all time high of 785.7 billion dollars, according to data released by the Reserve Bank of India. Foreign currency assets, the largest component of the reserves, rose by about 47.5 billion dollars to 648.2 billion dollars, while gold reserves fell by about 2.6 billion dollars to 113.8 billion dollars as prices dipped. The jump builds on inflows drawn in since the RBI opened a concessional foreign currency swap window for banks in June 2026, which has now brought in more than 136 billion dollars in new flows and pushed India past other economies to become the world's fourth largest holder of foreign exchange reserves.

• 2026-09-11

  RBI and SEBI launch Demat 2.0 pilot for tokenised corporate bonds

  Reserve Bank of India Governor Sanjay Malhotra and Securities and Exchange Board of India Chairman Tuhin Kanta Pandey launched the Demat 2.0 pilot for tokenised corporate bonds at the Global Fintech Fest 2026 in Mumbai on 10 September 2026. Three companies issued tokenised bonds under the pilot using distributed ledger technology, REC Limited and Larsen & Toubro each raising Rs 500 crore and IIFL raising Rs 25 crore, taking the total to about Rs 1,025 crore. Settlement for the tokenised bonds uses the central bank digital currency, the digital rupee issued by the RBI, which the regulators said allows faster and more transparent transactions than the conventional demat system. SEBI said the tokenisation framework could later extend beyond corporate bonds to equities, mutual fund units and electronic gold receipts.

• 2026-09-11

  RBI Governor unveils UPI Tap and Pay and the AI powered MyUPI platform

  At the Global Fintech Fest 2026 in Mumbai on 10 September 2026, RBI Governor Sanjay Malhotra unveiled UPI Tap and Pay, which lets users make near field communication based UPI payments by tapping a compatible smartphone on a point of sale terminal, permitting PIN less transactions up to Rs 5,000. The National Payments Corporation of India also launched MyUPI, a unified window showing a user's UPI transactions and Autopay mandates across banks and apps, including a Safety Switch that lets a user instantly decline UPI debit transactions if they suspect their account is compromised. Underlying these features is FiMI, Finance Model for India, a domain specific language model NPCI built to natively understand India's payment systems, transaction disputes and mandate management. Malhotra said trust takes years to build but can be lost quickly, and urged fintech firms to guard against risks from opacity, exclusion and cybersecurity.

• 2026-09-09

  ISRO's EOS-05 completes final orbit-raising manoeuvre, reaches geosynchronous orbit

  ISRO completed the third and final orbit-raising manoeuvre of its EOS-05 satellite at 8.57 pm on 7 September 2026, firing the Liquid Apogee Motor for 1,247 seconds and placing the satellite into a near circular orbit of about 34,903 km by 35,884 km. EOS-05, launched aboard the GSLV-F17 rocket on 4 September, is India's first imaging or Earth observation satellite designed to operate from geosynchronous orbit, distinct from India's long-standing GSAT communication satellites in that same class of orbit, and will undergo health and systems checks over the coming days before its imaging payload is activated. Two earlier orbit-raising manoeuvres on 5 and 6 September had already reshaped the satellite's orbit from its initial sub-geosynchronous transfer orbit.

• 2026-08-23

  RBI's forex swap facility draws $72.85 billion in inflows

  Data released by the Reserve Bank of India on 22 August 2026 showed its special USD-INR forex swap facility, introduced on 8 June 2026, had attracted total inflows of $72.85 billion as of 21 August 2026. FCNR(B) deposits accounted for $65.40 billion, nearly 90 per cent of the total, while Overseas Foreign Currency Borrowings contributed $4.86 billion and External Commercial Borrowings $2.59 billion. The window for FCNR(B) deposits closes on 31 August 2026, while the facility remains open for ECBs and OFCBs until 31 December 2026.

• 2026-08-18

  RBI advances FCNR(B) forex swap window deadline to 31 August

  The Reserve Bank of India has advanced the deadline for banks to raise Foreign Currency Non Resident (Bank) deposits under its special forex swap facility from 30 September to 31 August 2026, citing a strong response since the facility opened on 8 June. Banks may still enter into dollar rupee swaps with the RBI against these deposits until 11 September. The facility, which also covers External Commercial Borrowings and Overseas Foreign Currency Borrowings, had drawn total inflows of about USD 56.8 billion by 13 August, with FCNR(B) deposits alone accounting for USD 52.3 billion.

• 2026-08-17

  India's forex reserves cross USD 707 billion, RBI data shows

  Reserve Bank of India data showed the country's foreign exchange reserves jumped by USD 14.14 billion in the week ended 7 August 2026 to touch USD 707 billion, the sharpest weekly gain since January 2026. Foreign currency assets, the largest component, rose to USD 574.6 billion, while gold reserves climbed to USD 108.7 billion. Reserves remain below the record USD 728.5 billion touched in February 2026.