The Pension Fund Regulatory and Development Authority (PFRDA) has launched the ‘StAR NPS’ platform. Developed by the Bombay Stock Exchange (BSE) Technologies Pvt Ltd (BTPL), this digital onboarding solution aims to simplify the subscriber registration process for the National Pension System (NPS).
The PFRDA has also introduced a ‘Regulatory Sandbox Framework’, effective from June 2, 2026, to facilitate the controlled testing of innovative pension-sector solutions before their wider implementation.
The RBI has released the ‘Annual Report 2025-26’. The Balance Sheet (BS) of the RBI expanded by 20.6% in FY26, increasing from ₹76.25 lakh crore to ₹91.97 lakh crore, registering a growth of ₹15.72 lakh crore. A provision of ₹1.09 lakh crore was transferred to the Contingency Fund (CF).
The expansion on the assets side was driven by a 44.9% increase in domestic investments to ₹22.59 lakh crore, a 63.8% rise in gold holdings to ₹10.94 lakh crore, and a 7.9% growth in foreign investments to ₹52.68 lakh crore. The number of reported fraud cases declined to 10,114 from 23,722 in the previous year.
BharatPe has launched ‘BharatPe Flex’, a UPI solution, in partnership with YES Bank. This allows eligible customers to use a pre-approved credit line for daily UPI transactions.
Decentro has become the first Indian Payment Aggregator (PA) to secure final approval from the International Financial Services Centres Authority (IFSCA) to operate as a Payment Service Provider (PSP). The company will conduct its operations at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat.
Established in 2020, the company plans to launch 4 services under the PSP framework, which include merchant acquisition, virtual account issuance, cross-border money transfers, and escrow services.
The RBI has introduced a 6-point policy package to boost foreign capital inflows and stabilize the Indian rupee. Under the Fully Accessible Route (FAR), RBI has expanded the scope of 'specified securities' to include new central government securities (G-Secs) with tenors of 15, 30, and 40 years.
To optimize foreign portfolio capital flows, RBI has abolished historical entry bottlenecks under the General Route, including short-term investment lock-ins, concentration limits, and individual security caps for Foreign Portfolio Investors (FPIs).
Equity investment ceilings have been increased for Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) without SEBI registration. A concessional forex swap facility is introduced for External Commercial Borrowings (ECBs) raised by Central Public Sector Enterprises (CPSEs) to insulate public infrastructure funding from currency volatility.
RBI will bear the full hedging costs for Authorized Dealer (AD) banks that raise fresh 3 to 5-year Foreign Currency Non-Resident (Bank) (FCNR(B)) deposits, valid until September 2026. The timeframe for exporters to repatriate and realize international sales revenue is reduced to 9 months from the previous 15 months.
West Bengal Gramin Bank (WBGB) has partnered with Canara HSBC Life Insurance Company Ltd to enhance life insurance coverage in rural and semi-urban areas of West Bengal. The insurance company will use the bank's network of 960 branches across the state to offer its insurance products.
The Development Bank of Japan (DBJ) has partnered with HDFC Capital Advisors Ltd (HDFC Capital) to invest in real estate funds for affordable and mid-income housing in India. This marks the first-ever real estate investment by the DBJ in India.
The partnership aims for a total targeted corpus of $1 billion. Under this collaboration, the DBJ has pledged capital to the HDFC Capital Development of Real Estate Affordable and Mid-Income Fund (H-DREAM Fund), which is managed by HDFC Capital. The H-DREAM Fund has a target corpus of $500 million, with an additional $500 million green shoe option.
Karur Vysya Bank (KVB) has launched 4 new premium credit card portfolios on the Visa platform.
The portfolios are Aura (Visa Platinum), Samara (Visa Signature), Altura (Visa Infinite), and Eternis (Visa Infinite). This launch is part of the strategy of the bank to strengthen its offerings for affluent and lifestyle-focused customers.
NPCI International Payments Ltd (NIPL) has partnered with ACLEDA Bank Plc to facilitate the acceptance of the UPI in Cambodia.
With this, Cambodia has become the 9th international destination to integrate the Indian UPI system. The other countries where UPI is enabled include Singapore, the UAE, France, Mauritius, Nepal, Bhutan, Qatar, and Sri Lanka.
Bank of Baroda (BoB) has introduced biometric payment authentication and Internet of Things (IoT)-based payment capabilities on its UPI application, ‘bob इ Pay’.
The biometric feature uses Unique Identification Authority of India (UIDAI)-based face authentication to secure transactions, allowing users to authorize UPI transactions up to ₹5,000 using fingerprint or facial recognition.
One Mobikwik Systems Ltd, the parent company of Mobikwik, has received in-principle approval from the RBI for a Payment Aggregator-Physical (PA-P) licence. This licence will enable the firm to facilitate offline merchant payments across India.
RBI has issued final amendment directions for Urban Co-operative Banks (UCBs) and Rural Co-operative Banks (RCBs), mandating a 3-year cooling-off period for directors who have completed a continuous tenure of 10 years on the board.
RBI has also established an 8-member expert panel under the Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE) initiative to evaluate the risks posed to the financial system by the adoption of quantum technology. The panel is led by Anil Prabhakar, a professor at the IIT Madras, who serves as the convener.
Life Insurance Corporation of India (LIC) has announced two new joint life insurance savings plans named ‘LIC’s New Jeevan Sathi Single Premium’ and ‘LIC’s New Jeevan Sathi Limited Premium’.
These plans, designed for couples, will be available from June 2026. They offer joint life financial protection, guaranteed returns, fixed benefits, and a premium waiver on the first death, along with loan facilities and flexible payout options.
The RBI has approved leadership updates for two financial institutions. Sandeep Bakhshi has been re-appointed as the MD & CEO of ICICI Bank for a 2-year term, effective until October 3, 2028.
Additionally, Ketan Merchant has been granted a 3-month interim leadership extension at Fino Payments Bank.
The RBI has imposed a penalty of ₹10.1 lakh on City Union Bank for levying loan-related charges on priority sector agriculture advances up to ₹25,000 and for failing to report Self Help Group (SHG) member-level data to credit information companies.
Mintifi Finserve Pvt Ltd was fined ₹3.1 lakh for failure to upload certain Know Your Customer (KYC) records, and Newa Investments Pvt Ltd was fined ₹2.7 lakh for appointing directors without obtaining prior approval from the regulator.
Jumpp, operated by the Finvasia Group, has received Corporate Agency and Insurance Self Network Platform (ISNP) licences from the Insurance Regulatory and Development Authority of India (IRDAI).
These licences enable Jumpp to distribute insurance products digitally through its AI-powered platform. The platform has also partnered with YES Bank to provide banking and Bharat Bill Payment System (BBPS) services.
The Life Insurance Corporation of India (LIC) has acquired 26.26 crore equity shares, representing a 2.901% stake, in the Central Bank of India (CBI) through open market purchases. This transaction has increased the total shareholding of LIC in the bank from 3.16% to 6.06%.
The Department of Financial Services (DFS) under the Ministry of Finance has launched the ‘Common Landing Portal for Unclaimed Financial Assets’.
Developed in collaboration with the Public Sector Bank (PSB) Alliance, this unified platform allows users to search for unclaimed bank deposits, insurance claims, shares, dividends, and mutual funds across the financial ecosystem.
The RBI has approved a record surplus transfer of ₹2.87 lakh crore to the Government of India (GoI) for FY26. This is higher than the previous year transfer of ₹2.69 lakh crore.
As of March 2026, the balance sheet of the RBI expanded by 20.61% to reach ₹91.97 lakh crore. It is to be noted that under the revised Economic Capital Framework (ECF), the RBI is required to maintain a Contingent Risk Buffer (CRB) within a range of 4.5% to 7.5% of the balance sheet size.
Union Minister Nirmala Sitharaman has launched a series of Small Industries Development Bank of India (SIDBI)-backed strategic web portals and initiatives during its 37th foundation day celebrations in Mumbai.
The initiatives include the “SIDBI-RRB Co-Lending Platform” to facilitate collaborations between SIDBI and Regional Rural Banks (RRBs) to enhance credit flow to Micro, Small and Medium Enterprises (MSMEs) in semi-urban and rural areas.
The “Modernization of Rural Enterprises” (MoRE) Programme was also launched to support 10,000 rural micro and artisan units through cluster-based interventions over the next 3 years. Additionally, the “Micro Credit Card Scheme” for MSMEs allows Udyam-registered micro enterprises to access credit of up to ₹5 lakh with a 75% guarantee coverage and without the requirement of mandatory primary security.
