SC Settles Fraud Classification Procedure: No Oral Hearing Mandatory Under RBI Master Directions, Mandates Forensic Report Disclosure

RBI Holds Repo Rate at 5.25%; SC Judges Bill Passed as Money Bill; FCRA Amendment Sparks Controversy

This compilation covers critical current affairs for UPSC: the FCRA Amendment Bill facing opposition over asset vesting provisions, the Supreme Court (Number of Judges) Amendment Bill passed as a Money Bill despite controversy, RBI maintaining repo rate at 5.25% with a neutral stance and planning polymer banknotes launch, a new Supreme Court gender sensitivity report replacing the 2023 handbook, and Kerala's worsening floods linked to sedimentation and urbanization. All topics have high Prelims and Mains potential.

SC Stays HC Order Declaring NSEI as 'Public Authority' Under RTI Act Section 2(h)

The Supreme Court has stayed a Delhi High Court order that declared the National Stock Exchange of India (NSEI) a 'public authority' under Section 2(h) of the RTI Act. This means citizens cannot currently enforce their right to information from NSEI. The case challenges whether a stock exchange, though controlled by the government, should be treated as a public authority.

SC to Hear PIL Against 0.4% MDR on UPI Transactions Over ₹2000 from Oct 15

The Supreme Court will hear a PIL on September 28, 2026 challenging the government's decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant transactions above ₹2,000, effective October 15. The PIL alleges the framework lacks transparency and is arbitrary, questioning amendments to Section 10A of the Payment and Settlement Systems Act.

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.

Lok Sabha Passes Bill Amending Payment Act to Allow Charges on UPI Transactions

Lok Sabha passed the Taxation and Other Laws (Amendment) Bill, 2026 which amends the Payment and Settlement Systems Act, 2007 to allow the government to permit banks and service providers to levy charges on UPI and other notified electronic payment modes. This marks a major policy shift from the current zero-charge regime for UPI transactions.

Lok Sabha Passes Tribunals Reforms Bill 2026; India's Russian Oil Imports Hit All-Time High of 48%

Today's top news covers the Lok Sabha's passage of the Tribunals Reforms Bill 2026 without debate, India's all-time high Russian oil imports at 48% in June 2026, multiple Supreme Court orders on Cauvery, Manipur, and Abhishek Banerjee, and a police lathi-charge on student protesters in Jharkhand. Key for Prelims: data points, bill names, SC orders.

Rajasthan HC: Blanket Freeze of Bank Accounts in Cyber Fraud Cases Arbitrary, Confine to Disputed Amount

The Rajasthan High Court has ruled that banks and police cannot freeze entire bank accounts based on a single suspicious transaction. Only the disputed amount can be restricted, and indefinite freezes are barred. This protects legitimate account holders while ensuring traceability of cyber fraud proceeds.

NCLT Approves Subhash Chandra's Rs 6.25 Cr Repayment Plan Against Rs 22,006 Cr Claims Under IBC

NCLT sanctioned Subhash Chandra's personal insolvency repayment plan of mere Rs 6.25 crore against admitted claims of Rs 22,006.57 crore, raising serious concerns about related party voting and inadequate claim verification. Banks have alleged that 61.78% voting share in favour came from entities linked to Chandra, potentially undermining the integrity of the IBC resolution process.