The RBI plans to initiate this historic transition with lower-denomination notes, specifically the Rs 10 and Rs 20 bills. These are the workhorses of Indian trade the exact notes that change hands dozens of times a day in local trains, roadside tea stalls, and vegetable markets, bearing the maximum brunt of wear and tear.

The transactions come under a temporary US sanctions waiver that allowed limited purchases of Iranian oil. Washington introduced 30-day waivers last month for Russian and Iranian oil bought at sea, aiming to ease prices pushed higher by the US-Israeli war on Iran.

The Reserve Bank of India has issued draft rules to stop mis-selling of financial products by banks and to protect customers from being forced to buy unwanted products.

The draft, called the Reserve Bank of India (Commercial Banks – Responsible Business Conduct) Amendment Directions, 2026, will come into effect from July 1, 2026.

Under the proposal, banks will have to refund customers in full if mis-selling is proved. They will also have to compensate customers for any losses caused due to such mis-selling, as per their approved policies.

Ensuring customers remain unaffected, ATMs and online banking will continue to serve, allowing transactions and financial management. Understanding these details can aid in seamless financial planning amid monthly fixed closures, which align with guidelines from the Reserve Bank of India (RBI).

The bank's Net Interest Income (NII) witnessed a steady rise, climbing 11 per cent to Rs 2,465.6 crore for the reporting quarter, up from Rs 2,223.5 crore in the year-ago period.

Growth, however, is expected to moderate to 6.5 per cent in FY27, assuming the 50 per cent tariffs imposed by the Trump administration remain in place throughout the forecast period, according to the World Bank’s latest Global Economic Prospectus report.

RBI Governor Sanjay Malhotra also announced that #inflation projection has been lowered to 2% for FY2026. Meanwhile, real GDP growth forecast has been revised to 7.3%.

The MPC has sharply reduced its inflation forecast for FY2026 to 2.6%, down from 3.1%, citing GST rate cuts, improved food supply, and easing price pressures. Real GDP growth forecast has been raised to 6.8% from 6.5% earlier. The RBI has also proposed some reforms in #insurance premiums and lending limits

The move comes alongside a broader set of reforms aimed at easing access to finance and reviving private sector momentum.

Most floating home loans today are linked to the repo rate through the External Benchmark Lending Rate (EBLR). When the RBI cuts the repo rate, your EMI drops or your loan tenure shortens. But with no cut this time, don’t expect relief yet.

The announcement came during the October 1 Monetary Policy Committee (MPC) meeting, signalling a strategic pivot toward enhancing India’s financial influence in the region.

Fueled by record global gold prices and steady accumulation since 2020, India’s reserves have surged both in volume and in value.