RBI Proposes ₹25,000 Compensation for Digital Fraud Victims from Deposit Education Fund

I4C Blocks 3,718 Mobile Apps Under IT Act; ₹11,158 Crore Saved via CFCFRMS

The Centre has blocked 3,718 mobile apps, including fraudulent loan apps, via the Indian Cyber Crime Coordination Centre (I4C) under the IT Act. Over ₹11,158 crore has been saved through the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS). This is crucial for understanding government action against cyber financial fraud and the role of I4C.

SC Mandates SOPs to Curb Digital Arrests, Orders Time-Bound Refunds via I4C-RBI Portal

The Supreme Court has directed the Centre, States, RBI, and telecom authorities to implement standard operating procedures (SOPs) to combat 'digital arrest' scams. The order mandates time-bound grievance redressal, zero FIR registration, and money restoration mechanisms. The I4C report shows a 86% reduction in complaints from 2024 to June 2026.

Supreme Court Directs RBI, States, CBI on Digital Arrest Scams: SOP, Kill Switch, ₹18 Cr Restored

The Supreme Court issued interim directions to combat digital arrest scams, including RBI SOP for banks, operationalization of grievance redressal and money restoration modules, and examination of a 'kill switch' for calls. The court noted a decline in reported fraud but stressed continued vigilance. This is crucial for understanding judicial activism in cybercrime and institutional coordination.

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.

PM Modi Chairs 4th CCS Meet on West Asia Crisis: Supply Chain, Seafarers Safety, Fertiliser Stock Reviewed

This 4th special Cabinet Committee on Security (CCS) meeting signals India's proactive stance on securing energy and fertiliser supply chains amid multiple conflicts near the Strait of Hormuz, Red Sea, Black Sea, and Gulf of Aden. For exam aspirants, it links to energy security, geopolitics, and institutional mechanisms of the CCS. Prelims can test composition of CCS and number of meetings; Mains can explore India's strategy for supply chain resilience.

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.

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.

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.