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    September 23, 2026
    S&P, Fitch, others raise FY’27 India GDP growth projections; see RBI rate hike on inflation fears
    September 23, 2026
    Banks to remain open on Sunday, 27th September, for convenience of customers
    September 23, 2026
    Banks to remain open on Sunday for customers' convenience in view of proposed strike
    September 23, 2026
    S&P, Fitch raise FY'27 India GDP growth projections; see 25 bps RBI rate hike on inflation fears
    September 23, 2026
    ADB raises India's GDP growth forecast to 7pc on stronger-than-expected Q1 growth
    September 23, 2026
    Fitch raises India's FY'27 GDP growth projections to 6.9 pc
    September 23, 2026
    ED searches against entities involved in IBC process for Kolkata company
    September 23, 2026
    S&P raises India's FY27 GDP growth forecast to 7pc, sees 25 bps RBI rate hike
    September 22, 2026
    J&K Bank, SKIMS sign MoU to expand healthcare access
    September 22, 2026
    Bank unions to go ahead with 3-day nationwide strike from Sep 28
    September 22, 2026
    Appeal to Employees of Public Sector Banks and Regional Rural Banks for Ensuring Uninterrupted Banking Services.
    September 21, 2026
    Govt urges bank employees to refrain from strikes, resolve issues through dialogue
    September 21, 2026
    RBI revises foreign currency deposit inflows under FCNR(B) upward to USD 133 bn
    September 21, 2026
    Haryana plans Rs 2,295-crore rural infra push
    September 21, 2026
    VKDL NPA Advisory Council Chairman V. K. Dubey Felicitated by Uttar Pradesh Women Commission Chairperson Babita Singh Chauhan
    September 21, 2026
    Rupee rises 15 paise to close at 95.81 against US dollar
    September 21, 2026
    Rupee rises 24 paise to 95.72 against US dollar in early trade
    September 21, 2026
    Conference on “Financing India’s Journey towards Viksit Bharat” concludes in New Delhi
    September 20, 2026
    RBI orders removal of Maharashtra minister Babasaheb Patil, 7 others as directors of Latur DCC Bank
    September 19, 2026
    RBI orders removal of Maharashtra minister Babasaheb Patil, 7 others as directors of Latur DCC Bank
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News
All › FEMA & RBI › FEMA & RBI - 2026
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September 23, 2026
S&P, Fitch, others raise FY’27 India GDP growth projections; see RBI rate hike on inflation fears
Show AI Summary
Monetary policy tightening may follow resilient growth as inflation, conflict risks, and weather pressures reshape economic projections.
FY27 GDP growth projections were raised to a range of 6.9%-7.1% on stronger June-quarter activity, resilient demand, investment, consumption, exports, capital inflows and limited supply disruptions. Growth may moderate as energy costs reduce purchasing power, activity slows and weather risks persist. Policy-rate tightening is projected as an inflation response, with forecasts of a 25-basis-point increase and temporary rate rises to offset price pressures.
September 23, 2026
Banks to remain open on Sunday, 27th September, for convenience of customers
Show AI Summary
Essential banking service continuity requires Sunday operations by public sector and regional rural banks during the proposed strike.
Public Sector Banks and Regional Rural Banks will function normally on Sunday, 27 September 2026, to prevent an extended interruption to public banking needs during the proposed nationwide strike. Reserve Bank approval covers full operation of branches, offices, ATM-link branches and Currency Chests, alongside measures intended to maintain uninterrupted essential banking services.
September 23, 2026
Banks to remain open on Sunday for customers' convenience in view of proposed strike
Show AI Summary
Banking service continuity measures require public sector and regional rural banks to operate on Sunday during the proposed strike.
Banking-service contingency arrangements require Public Sector Banks and Regional Rural Banks to operate normally on Sunday, 27 September 2026, ahead of a proposed three-day bank strike. Reserve Bank approval permits bank branches, offices, ATM-linked branches and currency chests to remain fully operational. Customers are advised to use mobile banking, ATMs, internet banking, BC Points and UPI if the strike occurs, and to complete essential transactions in advance.
September 23, 2026
S&P, Fitch raise FY'27 India GDP growth projections; see 25 bps RBI rate hike on inflation fears
Show AI Summary
Inflation-driven monetary tightening may accompany strong growth as demand, price increases and adverse supply conditions shape rate expectations.
Inflationary pressures, robust demand, price rises and adverse supply developments are expected to lead to policy-rate tightening by RBI. Fitch anticipates a 25-basis-point rate rise in October, further tightening in early 2027, followed by easing in 2028. Growth projections were upgraded following stronger-than-expected June-quarter activity, but activity is expected to moderate as the effects of GST rationalisation and income-tax cuts recede, manufacturing and services slow, and below-normal monsoon conditions affect activity.
September 23, 2026
ADB raises India's GDP growth forecast to 7pc on stronger-than-expected Q1 growth
Show AI Summary
GDP growth forecast rises as domestic demand, investment, and public capital spending sustain economic resilience amid external risks.
India's GDP growth forecast for the current fiscal year is raised to 7 per cent, supported by investment demand, resilient consumption, manufacturing and services activity, lower-than-expected supply disruptions, and sustained capital inflows. Domestic demand, infrastructure expenditure, regulatory reforms, and improving private investment are expected to support growth. Inflation is projected to remain within the central bank's target range, subject to risks from geopolitical uncertainty, commodity prices, and weather-related disruption. Fiscal management is supported by public capital expenditure and robust direct-tax revenue.
September 23, 2026
Fitch raises India's FY'27 GDP growth projections to 6.9 pc
Show AI Summary
GDP growth outlook signals resilient expansion, but inflation, weaker rural demand, and supply pressures may prompt monetary tightening.
India's FY 2026-27 GDP growth forecast is raised to 6.9 per cent from 6.4 per cent, reflecting strong June-quarter growth and economic resilience. Economic momentum is projected to moderate as slower manufacturing and services expansion, below-normal monsoon rains, and rising inflation constrain demand. Strong demand, price increases and adverse supply conditions are expected to lead to monetary tightening.
September 23, 2026
ED searches against entities involved in IBC process for Kolkata company
Show AI Summary
FEMA scrutiny of insolvency acquisitions examines fund flows and possible indirect control by potentially ineligible resolution participants.
FEMA investigation concerns suspected foreign-exchange contraventions and the source and movement of funds used to acquire control of McNally Bharat Engineering Company Limited following its corporate insolvency resolution process. The inquiry also examines whether the process may have enabled persons potentially ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016, to regain indirect control of the company.
September 23, 2026
S&P raises India's FY27 GDP growth forecast to 7pc, sees 25 bps RBI rate hike
Show AI Summary
Monetary policy outlook: resilient growth and persistent inflation support a projected policy-rate increase amid weather and geopolitical risks.
India's FY27 growth outlook is revised upward to 7 per cent from 6.6 per cent, supported by industrial activity, consumption, goods exports and government investment. Consumer inflation is projected to average 5.1 per cent. Persistent inflationary pressures, solid growth, conflict in West Asia and weather-related risks are expected to support higher interest rates, while below-normal monsoon rainfall may affect agricultural output and food inflation.
September 22, 2026
J&K Bank, SKIMS sign MoU to expand healthcare access
Show AI Summary
Healthcare access integration enables local outpatient ticketing and appointment booking through banking correspondents, alongside employee banking and patient-support initiatives.
The partnership integrates SKIMS outpatient ticketing and appointment booking with J&K Bank's Banking Correspondent network on a six-month pilot basis, enabling local access for patients in rural and remote areas. J&K Bank serves as SKIMS's banking partner, offers customised employee banking benefits, supports hospital infrastructure through corporate social responsibility assistance, enables public contributions to the poor-patient endowment fund through a mobile application, and provides digital financial literacy and wealth-management programmes.
September 22, 2026
Bank unions to go ahead with 3-day nationwide strike from Sep 28
Show AI Summary
Five-day banking demand drives a proposed nationwide bank strike after conciliation remains inconclusive during half-yearly closing.
Proposed nationwide three-day bank strike from 28-30 September 2026 follows an inconclusive conciliation meeting. The strike is linked principally to the demand for five-day banking, with reconsideration contingent on concrete and positive progress toward its implementation. Other demands cover pension upgradation, a uniform dearness allowance formula for pensioners, and an option for National Pension System-covered employees to switch to the old pension scheme.
September 22, 2026
Appeal to Employees of Public Sector Banks and Regional Rural Banks for Ensuring Uninterrupted Banking Services.
Show AI Summary
Five-day banking demand prompts continued dialogue as employees are urged to avoid strikes and maintain uninterrupted services.
Industrial-relations engagement addresses strike action seeking a five-day banking week and withdrawal of the Performance Linked Incentive scheme. The scheme has been kept in abeyance, while conciliation continues on the five-day workweek demand. Employees are urged to resolve issues through dialogue and maintain uninterrupted banking services. Workforce measures include revised pay scales, welfare benefits, streamlined recruitment and promotions, improved transfers, pension-related benefits, medical insurance, disability-related allowances, and early negotiations for the next Bipartite Settlement.
September 21, 2026
Govt urges bank employees to refrain from strikes, resolve issues through dialogue
Show AI Summary
Banking service continuity is prioritised through dialogue as employee welfare measures and wage negotiations address outstanding demands.
Banking-sector industrial relations are addressed through an appeal to bank employees to avoid strike action and pursue outstanding demands through dialogue, in order to keep banking services uninterrupted. Most union concerns are considered substantially addressed, while a remaining demand continues to be examined. The demand for withdrawal of the Performance Linked Incentive scheme had been addressed by placing that scheme in abeyance following detailed discussions. Employee welfare measures, wage revisions, and negotiations for the forthcoming Bipartite Settlement are intended to support workforce welfare and banking-sector efficiency.
September 21, 2026
RBI revises foreign currency deposit inflows under FCNR(B) upward to USD 133 bn
Show AI Summary
FCNR(B) foreign-currency deposits use a swap facility to mobilise non-resident funds without direct rupee exchange-rate risk.
RBI's special USD-INR foreign-exchange swap facility mobilised foreign-currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. The FCNR(B) deposit window closed on 31 August 2026 after its mobilisation objective was achieved, while the facility remained available for the other two channels until 31 December 2026. FCNR(B) collections were revised upward to approximately USD 133 billion. Such deposits are fixed-term foreign-currency deposits with principal and interest repayable in the same currency, avoiding direct rupee exchange-rate risk for non-resident depositors.
September 21, 2026
Haryana plans Rs 2,295-crore rural infra push
Show AI Summary
Rural infrastructure financing supports irrigation, roads, water supply, warehousing and micro-irrigation through structured lending and implementation oversight.
Haryana's 2026-27 rural infrastructure financing plan comprises six proposals for irrigation, roads, drinking-water supply and warehousing, with loan assistance proposed under the Rural Infrastructure Development Fund. Infrastructure Development Assistance has been sanctioned for the India International Horticulture Market, while further micro-irrigation proposals have been recommended under the Micro Irrigation Fund. Implementation oversight emphasises faster project execution and timely drawal claims, alongside borrowing approval and prospective support for water security, groundwater recharge, efficient irrigation and treated-wastewater reuse.
September 21, 2026
VKDL NPA Advisory Council Chairman V. K. Dubey Felicitated by Uttar Pradesh Women Commission Chairperson Babita Singh Chauhan
Show AI Summary
Legal and NPA advisory services receive recognition for social welfare, women's employment, legal awareness, and financial dispute-resolution work.
Felicitation of Advocate V. K. Dubey recognised his stated work in women's employment, public welfare, banking, NPA resolution, legal awareness, and social service. His profile encompasses civil, criminal, non-performing asset, banking, corporate, and settlement matters; leadership of bodies engaged in financial-dispute resolution; and legal assistance and public awareness intended to improve access to justice for marginalised persons. Associated initiatives include education and support for disadvantaged communities and wider social empowerment.
September 21, 2026
Rupee rises 15 paise to close at 95.81 against US dollar
Show AI Summary
Rupee appreciation reflected lower crude oil prices, stronger domestic equities, and improved risk sentiment amid diplomatic expectations.
Rupee appreciation against the US dollar followed lower crude oil prices, improved global risk sentiment, positive domestic equity markets, and softer US Treasury yields. Dollar index strength, geopolitical developments, and possible increases in oil supplies remained relevant to currency movements. Market commentary anticipated a slight positive rupee bias if crude oil prices continued to ease, while renewed geopolitical tensions could weaken risk sentiment. Net foreign institutional investment and a decline in foreign exchange reserves also formed part of the market context.
September 21, 2026
Rupee rises 24 paise to 95.72 against US dollar in early trade
Show AI Summary
Rupee appreciation in early trade reflects lower crude prices and stronger domestic equities despite dollar demand.
Rupee appreciation in early interbank trading saw the currency strengthen by 24 paise to 95.72 per US dollar. Lower Brent crude prices, gains in domestic equities and improved foreign fund sentiment supported the currency, while importer demand for dollars and broader US-dollar strength limited gains. Market commentary identified a broad near-term trading range, and foreign-exchange reserves declined because foreign-currency and gold reserves fell.
September 21, 2026
Conference on “Financing India’s Journey towards Viksit Bharat” concludes in New Delhi
Show AI Summary
Private capital mobilisation for development financing requires predictable investment conditions, credible projects, fiscal transparency, and strengthened State capital expenditure.
Development financing for Viksit Bharat is framed as a joint Union-State and private-sector task requiring higher savings and investment, fiscally resilient public finances, and mechanisms to mobilise private capital. Fiscal sustainability requires State-wise debt assessments and fuller disclosure of off-budget borrowings, guarantees, arrears and borrowings through State-owned entities. Public resources are expected to play a catalytic role in attracting private investment, supported by predictable rules, enforceable contracts, faster dispute resolution and stronger investment protections.
September 20, 2026
RBI orders removal of Maharashtra minister Babasaheb Patil, 7 others as directors of Latur DCC Bank
Show AI Summary
Ten-year director tenure cap governs removal of ineligible cooperative bank board members after regulatory review.
RBI required Latur District Central Cooperative Bank to remove directors considered ineligible for exceeding the ten-year maximum tenure applicable to district central cooperative bank directors. The action invoked director ineligibility under the Banking Regulation Act. Following a complaint and a court-directed timeline for regulatory action, RBI sought responses from the concerned directors, seven of whom resigned. An issue was raised over whether the tenure cap could apply retrospectively to appointments made before its stated commencement and whether it was being applied uniformly.
September 19, 2026
RBI orders removal of Maharashtra minister Babasaheb Patil, 7 others as directors of Latur DCC Bank
Show AI Summary
Cooperative bank director tenure limits require disqualification and removal when service exceeds the statutory maximum period.
Directors of District Central Cooperative Banks and Central Cooperative Banks are subject to a maximum 10-year tenure under the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025. RBI directed removal of a director ineligible to continue under section 10A(2A)(i), read with section 56, following concerns that directors of Latur District Central Cooperative Bank had exceeded the permitted tenure.

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FEMA & RBI

Banks to remain open on Sunday, 27th September, for convenience of customers

September 23, 2026

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In view of the proposed three-day nationwide bank strike called by the United Forum of Bank Unions (UFBU) from September 28 to 30, 2026, coinciding with the preceding weekend holidays of September 26 and 27, the government has taken proactive steps to safeguard the banking needs of citizens.

In order to ensure that the genuine banking needs of the public are not adversely affected for an extended period, all Public Sector Banks and Regional Rural Banks will function normally on Sunday, the 27th of September, 2026.

The Reserve Bank of India has granted approval for all bank branches, offices, ATM-link branches and Currency Chests to remain fully operational on 27.09.2026.

The Department reiterates that the welfare and convenience of bank customers remains the Government's foremost priority. The Government and bank managements have appealed to unions to defer the proposed strike, and have also taken measures to ensure that essential banking services continue un-interrupted.

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