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7 August 2026 · verified exam-relevant news
Latest digest · 7 August 2026
Curated from PIB, RBI, All India Radio and verified national sources — organised for UPSC, SSC, Banking, Railway and State-PSC revision.
24 verified current-affairs updates for major exams.
Major banks including Yes Bank, SBI, and MUFG Bank have revised their RBI rate hike expectations downward following the central bank's dovish stance on inflation. This shift reflects reduced monetary tightening expectat…
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Oil prices surged on Friday as geopolitical tensions escalated around the Strait of Hormuz, with Iran and Oman considering restrictions on hostile vessels. Brent crude rose to $83.48/barrel and WTI to $78.84/barrel amid…
Read full storyRBI issued final Amendment Directions on 'Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents' effective January 1, 2027, after incorporating stakeholder feedback on the May 20, 2026 dra…
Read full storyThe RBI released the 2026-27 list of 17 NBFCs in the Upper Layer (NBFC-UL) under Scale Based Regulation, based on financials as of March 31, 2026. The framework, governed by the 2025 Directions, categorizes NBFCs into f…
Read full storyThe Parliamentary Standing Committee on Commerce, chaired by Ms. Dola Sen, presented its 200th Report on 'Evaluation of India-US Trade Relations' to Parliament on August 6, 2026. The report analyzes US tariff impacts ac…
Read full storyRBI issued draft directions on August 5, 2026, to replace the 2025 Concentration Risk Management and Credit Facilities guidelines for Rural Co-operative Banks (RCBs). Key proposals include prudential exposure limits for…
Read full storyThe Reserve Bank of India released Reserve Money data for the fortnight ended July 31, 2026, via Press Release 2026-2027/824. Reserve Money, a key monetary aggregate comprising currency in circulation and bank reserves,…
Read full storyThe Reserve Bank of India has released the draft 'Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026' for public consultation. Stakeholders are invited to submit comme…
Read full storyRBI announced the premature redemption price for Sovereign Gold Bond (SGB) 2020-21 Series-XI at ₹14,564 per unit, effective August 7, 2026. This redemption is permitted after the fifth year from the issue date (February…
Read full storyThe Reserve Bank of India imposed a ₹40,000 monetary penalty on Kedarnath Urban Co-operative Bank Ltd., Latur, Maharashtra, via an order dated August 3, 2026. The penalty was levied under Section 47A(1)(c) read with Sec…
Read full storyOn August 5, 2026, RBI's money market operations showed net liquidity absorption of ₹3,55,001 crore, primarily driven by massive SDF usage of ₹3,55,172 crore at 5.00%. The overnight segment recorded ₹6.24 lakh crore vol…
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The Reserve Bank of India (RBI) maintained the repo rate at 5.25% for the fourth consecutive policy review, retaining a neutral stance. It raised the FY27 real GDP growth forecast to 6.7% from 6.5% and lowered the avera…
Read full storyExternal Affairs Minister Dr S Jaishankar emphasized India's commitment to inclusive, demand-driven development cooperation with Africa during Africa Day celebrations in New Delhi. He highlighted India's position as one…
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A Parliamentary panel has recommended the Commerce Department to create a time-bound roadmap for the Mission 500 initiative, which aims to more than double India-US bilateral trade to $500 billion by 2030. The panel emp…
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In June 2024, Indian firms raised $6.07 billion via external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), with 140 companies accessing global markets. Key borrowers included Shriram Finan…
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The government raised ₹31,552 crore through LIC's Offer for Sale, increasing public ownership to 10% ahead of schedule. The issue saw strong demand with non-retail investors subscribing over 3 times their allocation on…
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External Affairs Minister S. Jaishankar emphasized Africa as a priority partner for India, stating its due place is essential for a multipolar world order. He reiterated India's commitment to strengthening ties with the…
Read full storyThe Reserve Bank of India's Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra, concluded its three-day meeting and announced the bi-monthly monetary policy review today at 10 AM in Mumbai. This decisi…
Read full storyThe Reserve Bank of India released results of eight forward-looking surveys including Urban/Rural Consumer Confidence Surveys (July 2026), Inflation Expectations Survey of Households (July 2026), 101st round of Survey o…
Read full storyThe Reserve Bank of India has released draft guidelines for 'on tap' licensing of Urban Co-operative Banks (UCBs) for public consultation, with comments invited until September 5, 2026. This move aims to streamline and…
Read full storyRBI announced a 4-day Variable Rate Reverse Repo (VRRR) auction of ₹1.5 lakh crore on August 6, 2026, with reversal on August 10, 2026. The auction window operates from 9:30 AM to 10:00 AM under LAF. This liquidity abso…
Read full storyThe Reserve Bank of India released monthly data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB), and Rupee Denominated Bonds (RDB) for June 2026, covering both Automatic and Approval r…
Read full storyRBI's Money Market Operations on August 4, 2026, show total overnight segment volume of ₹6,32,200.47 crore at a weighted average rate of 4.90%. Triparty Repo dominated with ₹4,36,898.60 crore volume. RBI conducted MSF o…
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India's services sector growth hit a 53-month low in July 2024 as per S&P Global PMI data, with the Services PMI falling to 52.5 from 60.5 in June. New business orders weakened across domestic and export markets, while…
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Exam-relevant stories with MCQ-ready key points from approved sources. Verified edition: 7 August 2026.
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