Context: A joint report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics has highlighted the slow implementation of the PM Surya Ghar Muft Bijli Yojana (PMSGY) despite a surge in applications and government incentives. Key Highlights: Scheme Overview Implementation Challenges
Government Launches Fixed-Fare Scheme for Alliance Air to Boost Regional Air Connectivity
Source: TOI Context: The Union Ministry of Civil Aviation has launched a fixed-fare scheme on a pilot basis for Alliance Air, India’s only state-owned fixed-wing airline. The initiative aims to test a transparent, stable fare structure while reviving the airline’s performance amid declining passenger numbers. Key Highlights: About the Scheme
UPI Goes PIN-Free with Biometric Authentication
Source: Mint Context: UPI (Unified Payments Interface) users in India can now authenticate payments using fingerprints or facial scans instead of entering a PIN. This move is aimed at making payments faster, easier, and safer, especially for first-time users and senior citizens. How UPI worked earlier: About biometric authentication: Other uses: Economic impact: Significance:
NITI Aayog Releases Report on Deep-Sea and Offshore Fisheries in India
Source: PIB Report Title: “India’s Blue Economy: Strategy for Harnessing Deep-Sea and Offshore Fisheries” Launched by Prof. Ramesh Chand, Member (Agriculture), NITI Aayog, and Shri B.V.R. Subrahmanyam, CEO, NITI Aayog. Key Highlights: Key Recommendations: Phased Roadmap: Expected Impact:
Government’s Sovereign Gold Bond (SGB)
Source: FE Context: The sharp rise in gold prices over 35% in this financial year has seen the government’s outstanding debt on sovereign gold bonds (SGBs) spiralling to a record Rs 1.5 lakh crore. What are SGBs? Redemption Trends: Economic Impact:
RBI Issues Letter of Caution to Axis Bank for KYC Non-Compliance
Source: BS Context: Axis Bank said it has received a “Letter of Caution” from the Reserve Bank of India’s High-Level Committee for lapses related to KYC compliance in an account opened in 2009. Key Highlights: What are KYC norms?
RBI Allows Banks to Lend in Rupees to Bhutan, Nepal & Sri Lanka
Source: TOI Context: On October 1, 2025, the Reserve Bank of India (RBI) allowed Indian banks and their overseas branches to lend in Indian Rupees (INR) to residents of Bhutan, Nepal, and Sri Lanka. These amendments are part of RBI’s efforts to ease external trade and payments, under the Foreign Exchange Management Act (FEMA). Purpose: To facilitate cross-border trade transactions and promote the international use of the Indian Rupee. Other measures by RBI:
Emirates NBD Bank in Talks to Acquire RBL Bank
Source: BS Context: Dubai-based Emirates NBD Bank PJSC is in talks to acquire a controlling stake (around 51%) in RBL Bank, India, for over $1 billion. The bank plans to buy 26% first from institutional investors and then make an open offer for another 25%. JP Morgan is advising Emirates NBD on the deal. Regulatory Aspect: Why it matters: About RBL Bank: About Emirates NBD in India:
Fraudbusters Digi Life: RBI’s AI Tool to Detect Fraud in Real Time
Source: ET Context: The Reserve Bank of India (RBI) is developing a next-generation Digital Payments Intelligence Platform (DPIP) to detect and prevent digital payment frauds in real time using Artificial Intelligence (AI). The initiative is being led through the RBI Innovation Hub, in collaboration with banks, telecom operators, and the Indian Cyber Crime Coordination Centre (I4C). Key Highlights:
SEBI Chief Urges Mutual Fund Trustees to Ensure Fair Fees and Stronger Oversight
Source: ET Context: The Securities and Exchange Board of India (SEBI) has emphasized the critical role of mutual fund trustees in ensuring fairness, transparency, and investor protection within the mutual fund industry. Key Highlights: Governance and Oversight Measures SEBI’s Broader Objective
