RBI Report: 10,114 Fraud Cases Involving ₹48,021 Cr in FY26; Advances Category Dominates with ₹40,774 Cr

CBI Registers ₹1,816.22 Cr EPFO Investment Fraud Case Against Reliance Capital, Anil Ambani

The CBI has registered a major fraud case involving EPFO funds invested in Reliance Capital NCDs. This highlights issues of corporate governance, public sector investment safety, and regulatory oversight. For exams, focus on EPFO's investment norms, CBI's jurisdiction, and criminal provisions invoked.

Govt Proposes Gold Monetisation via Jewellers: 20,000 Tonne Idle Gold, Demat Deposits, Interest Income

The government is planning a new gold monetisation scheme where jewellers, not banks, will collect physical gold deposits from households, issue demat receipts, and pay interest. This aims to unlock over 20,000 tonnes of idle gold, improve India's trade balance, and reduce import dependence — a key reform for economic stability and current account management.

MoSPI Considers Diary-Based HCES for High-Income Households to Tackle 9.8% Urban Non-Response Rate

To counter rising non-response from affluent households in gated societies, MoSPI is piloting a 'diary-based' self-reporting method for the next Household Consumption Expenditure Survey (HCES) in 2027-28. This shift is critical because the HCES data directly impacts CPI basket weights, inflation targeting by RBI, and policy making, but raises concerns about data comparability due to differential recall errors between survey methods.

RBI Issues Comprehensive Loan Recovery Rules: Phone Lock Allowed After 60 Days, Compensation ₹250/hr for Delayed Restoration

RBI has issued a consolidated framework for loan recovery by commercial banks, effective January 1, 2027. For the first time, it regulates technology-based restrictions on financed devices (smartphones/laptops) — allowing phone locking after 60 days of default, but with strict safeguards including ₹250/hour compensation for delayed restoration. This is a high-impact regulatory reform for Banking exams and UPSC GS3.

ICAI Reviews CA Curriculum to Integrate AI, ESG, Forensic Auditing; Launches AURA 2.0 and International Programme

ICAI is overhauling the CA curriculum to include AI, data analytics, ESG, and forensic auditing to keep pace with global technological shifts. It is also developing an international CA programme for countries like Mauritius, Nepal, and African nations, and launching advanced AI training for members and students.

FAST-DS 2026: Income Tax Dept Nudges Taxpayers to Disclose Foreign Assets by Dec 31

The Income Tax Department has begun emailing taxpayers who may hold undisclosed foreign assets, urging them to use the FAST-DS 2026 disclosure window (open till Dec 31, 2026). This one-time compliance scheme is crucial for small taxpayers like students, NRIs, and tech employees holding ESOPs or overseas accounts, with penalties up to ₹1 lakh or 30% tax plus additional tax.

RBI Report Flags Resilient Q1 Growth at 7%, Warns of El Nino and Geopolitical Risks

The Indian economy shows robust growth momentum in Q1, driven by consumption, manufacturing, and public capex, but faces headwinds from geopolitical tensions, supply-chain pressures, volatile energy prices, and a strengthening El Niño. The RBI and Finance Ministry reports reinforce this view, with GDP growth projected at 7% for Q1.

Govt Notifies Payment Act Changes: No Charges on UPI/RuPay Transactions Up to ₹2,000

The government has amended the Payment and Settlement Act, 2007, to prohibit banks from imposing any charges on UPI and RuPay debit card transactions up to ₹2,000. This move aims to protect small digital payments from fees while leaving the door open for potential charges on larger transfers.