PMJDY: 15.36 Crore Accounts Inoperative, 5.72 Crore Have Zero Balance as per RTI

RBI Flags Consumption Loan Risk: Gen Z Unsecured Debt Hits 58.4% of Household Borrowings

Gen Z’s buy-now-pay-later lifestyle is driving a surge in unsecured consumption loans. Non-housing retail loans now constitute 58.4% of household debt, with delinquencies rising and fintechs holding 56.8% of small-ticket personal loans. The RBI has flagged these risks for close monitoring.

Budget Proposal Panel on Banking for Viksit Bharat Soon for Comprehensive Sector Review: FM Sitharaman

Finance Minister Nirmala Sitharaman announced the imminent constitution of a high-level committee on 'Banking for Viksit Bharat', as proposed in the 2026-27 Budget. This panel will comprehensively review the banking sector to align it with India's next phase of growth, safeguarding financial stability, inclusion, and consumer protection.

FAST-DS Launched: Disclose Undisclosed Foreign Income Up to Rs 1 Crore, Assets Up to Rs 5 Crore Till Dec 31, 2026

The Income Tax Department has launched the Foreign Assets of Small Taxpayers – Disclosure Scheme (FAST-DS), a one-time voluntary window from August 16 to December 31, 2026, for small taxpayers to disclose previously undeclared foreign income (up to Rs 1 crore) and assets (up to Rs 5 crore). This scheme offers immunity from prosecution under the Black Money Act, 2015, and is a critical opportunity for students, tech professionals, and relocated NRIs to regularize their foreign holdings.

NCGTC Confirms ECLGS 5.0 Guarantee Cover of ₹2.5 Lakh Crore on First-Come-First-Served Basis for MSMEs

NCGTC has informed banks that ECLGS 5.0 – a credit guarantee scheme for MSMEs and non-MSMEs affected by the West Asia war – will be implemented only until the ₹2.5 lakh crore guarantee cover is exhausted, on a first-come-first-served basis. Non-MSME loans have been stopped to prioritise MSMEs. This is a key development for banking and economy exams, highlighting the limited nature of the guarantee and the government's focus on MSME liquidity.

Maharashtra Proposes DELTA Act for Land Tokenisation; Asset Base Estimated at ₹50 Lakh Crore

Maharashtra is set to become India's first 'tokenised State' by proposing the DELTA Act, which creates a legal framework to convert land ownership into blockchain-based digital tokens. This could unlock an estimated ₹50 lakh crore in state land value and set a template for national adoption of Real World Asset (RWA) tokenisation across gold, bonds, and carbon credits.

New UPI MDR: Flat Rs 5 Charge on Railway Bookings Above Rs 2,000 from Oct 15, 2026

From October 15, 2026, UPI payments above Rs 2,000 for railway tickets will attract a flat Rs 5 Merchant Discount Rate (MDR) instead of the general 0.4% fee. Crucially, this charge is on the merchant side and will not be passed to passengers. This special category concession makes railway ticketing cheaper to process than regular merchant payments.

RBI Net Sells $14.9 Bn (Jan-May 2026) for Rupee Stability; FCNR(B) Swap, ECB Boost Inflows

RBI's net sale of $14.9 billion in the first five months of 2026 underscores its interventionist approach to curb excessive rupee volatility, a key topic for economy-focused exams. The accompanying measures like the FCNR(B) swap facility and ECB liberalisation are crucial for understanding forex management and capital inflows.

Taxation and Other Laws (Amendment) Bill 2026 Allows MDR on UPI: Subsidy Falls to ₹2,000 Cr in FY27

UPI, currently free for users, may become chargeable after the government introduced the Taxation and Other Laws (Amendment) Bill, 2026. The Bill allows the government to notify transactions that can attract Merchant Discount Rate (MDR), potentially ending the zero-MDR regime. For students, this is a key economy/polity topic linking digital payments, financial inclusion, and fiscal policy.