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Banking Regulation Act, 1949

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Current affairsRBI Financial Stability Report June 2026: Banking Sector at Multi-Decadal Low NPA, Rising Household Debt, and AI-Driven Cyber RisksThe Reserve Bank of India's Financial Stability Report (FSR) for June 2026 reports India's banking sector has achieved a multi-decadal low Gross Non-Performing Asset (GNPA) ratio of 1.8%, while flagging rising household debt (45.5% of GDP) and AI-enabled cyberattacks as the top emergent systemic risks — critical reading for UPSC, Banking, and SSC aspirants. Current affairsLIC Gets RBI Approval to Acquire Up to 9.99% Stake in ICICI Bank: Regulatory Framework, Insurance-Banking Linkage, and UPSC SignificanceThe Reserve Bank of India granted the Life Insurance Corporation of India (LIC) approval to acquire up to 9.99% of ICICI Bank's paid-up share capital or voting rights within one year from September 4, 2026. This marks a significant regulatory development at the intersection of banking supervision, insurance regulation, and India's evolving financial conglomerate architecture. Current affairsThree New Part-Time Directors on RBI Central Board: Annie George Mathew, Janmejaya Kumar Sinha, Syed Akbaruddin — RBI Governance and the Central Board's RoleThe Government of India appointed Annie George Mathew (former Special Secretary, Ministry of Finance), Janmejaya Kumar Sinha (Chairman, BCG India), and Syed Akbaruddin (former Permanent Representative to the UN, now Dean of Kautilya School of Public Policy) as part-time non-official directors on the RBI Central Board for four-year terms effective August 24, 2026. Former ISRO chief S. Somnath and industrialist Anand Mahindra were also appointed/re-appointed to the board in the same round. Current affairsSupreme Court Issues Fresh Directions Against Digital Arrest Scams: RBI Ordered to Frame SOP on Mule Accounts Within Four WeeksThe Supreme Court of India has issued fresh nationwide directions to combat digital arrest scams, ordering the Reserve Bank of India (RBI) to frame a Standard Operating Procedure (SOP) for handling mule bank accounts within four weeks, directing states to operationalise cyber fraud grievance mechanisms and e-Zero FIRs, and requiring the SOP to be shared with every High Court Registrar General. Complaints on the National Cyber Crime Reporting Portal fell sharply from 1,23,672 in 2024 to 16,377 by June 30, 2026. Current affairsIndia's Forex Reserves Hit Record $729.33 Billion: FCNR(B) Swap Facility, RBI Measures, and the Macroeconomic SignificanceIndia's foreign exchange reserves climbed to an all-time record of $729.33 billion in the week ending 21 August 2026, surpassing the previous record of $728.49 billion set in February 2026, driven by $73 billion in inflows under RBI's concessional FCNR(B) deposit and overseas borrowing hedging facilities launched in June 2026. Current affairsPM Jan Dhan Yojana Turns 12: 59.09 Crore Accounts, ₹3.17 Lakh Crore Deposits — India's Financial Inclusion TransformationThe Pradhan Mantri Jan Dhan Yojana (PMJDY), launched on 28 August 2014, completed 12 years on 28 August 2026 with 59.09 crore active accounts, ₹3.17 lakh crore in deposits, and 78% accounts in rural/semi-urban areas — marking India's most transformative financial inclusion programme that has brought banking access to 55 crore previously unbanked citizens. Current affairsUPI Completes 10 Years: From 21 Banks in 2016 to the World's Largest Real-Time Payments PlatformThe Unified Payments Interface (UPI) completes ten years in August 2026, marking its evolution from a pilot with 21 banks in April 2016 to the world's largest real-time payments platform — processing 2,366 crore transactions worth ₹29+ lakh crore per month, accounting for 85% of India's digital payments and approximately 49% of global real-time transactions, with active acceptance in 9 countries. Current affairsPSB Confluence 2026: High-Powered Banking Reforms Committee for Viksit Bharat — Deposit Mobilisation, Youth Banking, and GCC StrategyThe Department of Financial Services (DFS), Ministry of Finance, hosted the PSB Confluence 2026 in New Delhi on August 17–18, bringing together 125 senior leaders of Public Sector Banks and Public Financial Institutions. Finance Minister Nirmala Sitharaman called for actionable banking reforms under seven themes to feed into a proposed High-Powered Committee on Banking for Viksit Bharat. Current affairsBankers' Books Evidence Bill, 2026: India Repeals 135-Year-Old Colonial Banking LawThe Lok Sabha passed the Bankers' Books Evidence Bill, 2026 on 5 August 2026, repealing the 135-year-old Bankers' Books Evidence Act, 1891. The new law expands the definition of "bankers' books" to cover digital, cloud-based, and electronic records, and makes certified copies of such records admissible as prima facie evidence in courts, arbitrations, and regulatory investigations. Current affairsRBI Keeps Repo Rate at 5.25%: August 2026 Monetary Policy ExplainedRBI Keeps Repo Rate at 5.25%: August 2026 Monetary Policy Explained Featured Snippet: In its August 2026 meeting (3–5 August), the Reserve Bank of India's Monetary Policy Committee (MPC) unanimously kept the repo rate unchanged at 5.25% and retained a "neutral" stance....

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Reserve Bank of IndiaArticle 21IT Act, 2000Bankers' Books Evidence Act, 1891Background The Bankers' Books Evidence Act, 1891Key Facts The Bankers' Books Evidence Act, 1891Article 246Information Technology Act, 2000
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