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Explore the latest Economy & Banking Current Affairs from 13 to 25 August 2026 covering RBI updates, banking developments, UPI and digital payments, SEBI initiatives, inflation, exports and imports, GDP forecasts, fintech, insurance, international loans and major financial-sector developments. Essential for Banking, RBI, IBPS, SBI, SSC, UPSC, Railways and other competitive exams.
The Ministry of Commerce and Industry released India's trade data on 13 August 2026.
India's combined merchandise and services exports for July 2026 were estimated at US$80.14 billion, compared with US$70.72 billion in July 2025, representing 13.31% year-on-year growth.
Total imports were estimated at US$95.16 billion, up 15.83% from the previous year.
July 2026 trade figures:
Merchandise exports – US$44.24 billion
Merchandise imports – US$76.22 billion
Services exports – US$35.89 billion
Services imports – US$18.94 billion
Total exports – US$80.14 billion
Total imports – US$95.16 billion
India's engineering goods exports increased substantially during July 2026.
Exports rose from US$10.40 billion in July 2025 to US$12.24 billion in July 2026, registering growth of 17.71%.
Engineering goods continue to constitute an important component of India's merchandise export basket.
Exports of organic and inorganic chemicals increased from US$2.45 billion in July 2025 to US$2.80 billion in July 2026.
This represented year-on-year growth of 14.39%.
Exports of cotton yarn, fabrics, made-ups and handloom products increased by 8.40%.
Their export value rose from approximately US$1.02 billion in July 2025 to US$1.11 billion in July 2026.
India's cumulative merchandise and services exports during April–July FY2026-27 were estimated at US$316.42 billion.
During the corresponding period of FY2025-26, exports stood at US$279.63 billion.
This represents estimated growth of 13.16%.
The Government released the Wholesale Price Index (WPI) data for July 2026 on 14 August 2026.
India's year-on-year wholesale inflation stood at 9.78%, compared with 9.87% in June 2026.
The All Commodities WPI stood at 110.0, compared with 110.2 in June.
Major-group inflation:
Primary Articles – 8.52%
Fuel & Power – 20.05%
Manufactured Products – 8.29%
An important point for competitive exams is that the WPI figures were released using the new base year 2022-23.
The government also released provisional Output Producer Price Index (OPPI) and trial Input Producer Price Index (IPPI) estimates along with WPI.
WPI base year: 2022-23
The final WPI index for May 2026 was revised from the provisional 109.9 to 110.1.
Accordingly, May's WPI inflation was revised from 9.68% to 9.88%.
The Consumer Price Index (CPI) data released immediately before this weekly period remained an important economic indicator during 13–25 August.
India's year-on-year CPI inflation for July 2026 was 4.45%.
Rural inflation stood at 4.84%, while urban inflation was 3.96%.
July 2026 CPI: 4.45%
Rural: 4.84%
Urban: 3.96%
India's year-on-year inflation based on the Consumer Food Price Index (CFPI) was 5.52% in July 2026.
This was higher than the overall CPI inflation rate of 4.45%.
India's Logistics Data Bank (LDB) achieved the milestone of tracking 10 crore EXIM containers.
The system provides end-to-end visibility of container movement across India's logistics network and is intended to improve efficiency and transparency in export-import logistics.
This represents an important milestone in India's trade-facilitation and logistics digitisation efforts.
Government data highlighted substantial expansion in digital customs processing.
The number of Bills of Entry filings increased from more than 1.43 lakh in April 2020 to over 6.14 lakh in June 2026.
The increase reflects the expansion of trade activity and digitalisation of customs processes.
On 13 August, the government highlighted reforms designed to create a more business-ready India.
Major areas included:
Digital single-window clearances
Simplified business incorporation
Reduced compliance burden
Improved access to markets and finance
Trust-based regulation
Greater regulatory certainty
Digital customs processing.
The broader objective is to create a predictable and enterprise-friendly business environment.
On 13 August 2026, the Securities and Exchange Board of India (SEBI) sought public comments on a consultation paper proposing a review of India's Accredited Investor Framework.
Accredited investors are investors who satisfy specified financial and other eligibility criteria and may participate in certain investment products under a differentiated regulatory framework.
Regulator: SEBI
SEBI issued a consultation paper proposing the mandatory adoption of a Credit Risk-o-Meter as an additional disclosure mechanism for debt securities.
The proposed mechanism is intended to provide investors with a simpler and more visible indication of the credit risk associated with debt securities.
This could help retail investors better understand risk before making investment decisions.
SEBI published a study examining the exit behaviour of anchor investors in Mainboard Initial Public Offerings (IPOs) on 13 August 2026.
Anchor investors are institutional investors who receive shares in an IPO before the issue opens to the general public, subject to applicable regulatory requirements.
On 17 August 2026, SEBI issued a caution to investors regarding the display of live trading strategies on social-media platforms.
The development is important in the context of SEBI's continuing efforts to protect retail investors from misleading or potentially harmful online financial content.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman chaired the 3rd meeting of the Apex Monitoring Authority of the National Industrial Corridor Development and Implementation Trust (NICDIT) on 18 August 2026.
The meeting reviewed progress on projects being implemented under the National Industrial Corridor Development Programme (NICDP).
The programme seeks to develop industrial cities and corridors supported by modern infrastructure and multimodal connectivity.
Union Commerce and Industry Minister Piyush Goyal invited Japanese businesses to deepen investment and partnerships with India on 18 August 2026.
The engagement forms part of India's wider strategy to attract foreign investment into manufacturing, infrastructure, technology and other strategic sectors.
The Department of Commerce organised an awareness session for Indian exporters on the European Union's Carbon Border Adjustment Mechanism (CBAM) on 19 August 2026.
CBAM is particularly important for exporters in carbon-intensive sectors because it links access to the European market with carbon emissions embedded in imported products.
For India, the mechanism has significant implications for trade competitiveness and export compliance.
The Unified Payments Interface (UPI) completed 10 years in August 2026.
UPI was developed by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India.
The government highlighted UPI's transformation from a domestic instant-payment platform into one of the most important components of India's Digital Public Infrastructure.
UPI's annual transaction volume expanded from 1.78 crore transactions in FY2016-17 to more than 24,162 crore transactions in FY2025-26.
This represents an almost 13,000-fold increase over the period.
Annual UPI transaction value increased from approximately ₹0.07 lakh crore in FY2016-17 to around ₹314 lakh crore in FY2025-26.
This represents an increase of nearly 4,000 times.
UPI accounted for approximately 84% of India's digital payments in FY2025-26.
The figure demonstrates the platform's dominant role in India's retail digital-payment ecosystem.
India's UPI accounted for approximately 49% of global real-time payment volume in 2025.
The International Monetary Fund (IMF) has recognised UPI as the world's largest real-time payment system by transaction volume.
In July 2026, UPI recorded approximately 2,366 crore transactions, the highest monthly transaction volume in its decade-long journey.
The value of transactions during July reached approximately ₹29.88 lakh crore.
The daily average number of UPI transactions in 2026 reached approximately 66 crore.
This demonstrates the scale at which digital payments have become embedded in everyday economic activity in India.
The number of banks live on UPI increased dramatically over the decade.
As of July 2026, 741 banks were live on the UPI ecosystem, compared with just 21 banks at launch in April 2016.
UPI is now operational or accepted in 11 countries, strengthening India's role in cross-border digital payments.
The international expansion of UPI has become an important component of India's fintech diplomacy and Digital Public Infrastructure strategy.
On 24 August 2026, SEBI launched the Cyber Suraksha Portal.
The initiative strengthens the cybersecurity framework of India's securities market and reflects the increasing importance of protecting market infrastructure and investors against cyber risks.
Launched by: SEBI
Area: Securities-market cybersecurity
On 24 August, SEBI also announced an MoU involving:
Securities and Exchange Board of India (SEBI)
Rashtriya Raksha University (RRU)
National Institute of Securities Markets (NISM).
The collaboration is associated with strengthening capabilities relevant to the securities market and its security ecosystem.
The Reserve Bank of India (RBI) proposed amendments to clarify the regulatory distinction between term loans and revolving credit facilities.
Under the proposed framework, a term loan follows a predetermined repayment schedule and the credit limit does not automatically become available for reuse when repayments are made.
Facilities that do not satisfy this definition would generally be treated as revolving credit.
The proposal is particularly significant for Non-Banking Financial Companies (NBFCs) and forms part of RBI's efforts to improve credit discipline and prevent inappropriate restructuring or evergreening of loans.
Regulator: RBI
Sector affected: NBFCs
Focus: Term loans and revolving credit
The minutes of the RBI's August Monetary Policy Committee (MPC) meeting drew considerable attention during the period.
The policy repo rate remained at 5.25%, but MPC discussions indicated concerns about emerging inflationary pressures.
RBI officials highlighted factors including energy prices, global uncertainty and domestic inflation trends that could influence future monetary-policy decisions.
Repo rate: 5.25%
RBI Governor: Sanjay Malhotra
The Reserve Bank of India decided to end a special foreign-exchange swap facility for banks earlier than originally scheduled.
The facility had been introduced to encourage Indian banks to mobilise foreign-currency funds and bring additional dollar liquidity into India.
The closure deadline was moved to 31 August 2026, prompting several Indian banks to accelerate overseas fundraising plans.
Following RBI's decision on the swap window, Indian private-sector banks accelerated fundraising through international debt markets.
Among the banks pursuing overseas fundraising were:
Kotak Mahindra Bank
YES Bank
IDFC FIRST Bank
Federal Bank
The four lenders were seeking to raise a combined approximately US$1.85 billion through dollar-denominated bonds.
This followed earlier overseas fundraising by lenders including ICICI Bank and Axis Bank.
IDFC FIRST Bank completed its maiden international bond issuance, raising US$500 million through its International Financial Services Centre Banking Unit at GIFT City, Gujarat.
The bonds have a:
Tenure: 3 years
Maturity: 2029
Coupon: 5.625%
Credit rating: BBB- by S&P Global Ratings with Stable Outlook.
The transaction marked IDFC FIRST Bank's entry into the global debt capital market.
The board of ICICI Bank approved an increase in the bank's overseas borrowing limit from approximately US$2.5 billion to US$5 billion.
The move came amid increased foreign fundraising by Indian banks following changes to RBI's foreign-exchange swap facility.
ICICI Bank had already raised substantial dollar-denominated funding through overseas debt markets.
New overseas borrowing limit: US$5 billion
Jammu & Kashmir Bank signed a Corporate Agency Agreement with HDFC Life Insurance Company.
Under the partnership, J&K Bank customers will gain access to HDFC Life insurance products covering areas such as:
Protection
Savings and investment
Retirement planning
Long-term financial security.
The collaboration supports the wider insurance industry's goal of “Insurance for All by 2047.”
Paul Merchants Finance Private Limited (PMFPL) became the first NBFC in India to establish exclusive branches dedicated to loans against silver, according to current-affairs coverage during the period.
The company initially launched the service from Chandigarh.
Customers can obtain loans ranging from approximately:
₹2,000 to ₹15 lakh
against eligible silver jewellery, ornaments and approved silver coins.
The initiative follows RBI's regulatory framework governing lending against gold and silver collateral.
Fintech company Paramotor Digital Technology Limited entered into a co-branded partnership with NSDL Payments Bank to issue prepaid cards across India.
The partnership combines Paramotor's technology platforms with the banking and prepaid-card infrastructure of NSDL Payments Bank.
The cards will support services including:
Consumer spending management
Digital gifting
Rewards and loyalty programmes
RBI-compliant prepaid payments.
The Reserve Bank of India approved the Life Insurance Corporation of India (LIC) to acquire an aggregate holding of up to 9.99% of HDFC Bank's paid-up share capital or voting rights.
LIC held approximately 4.11% of HDFC Bank according to the beneficial position reported for 14 August 2026.
The approval does not mean LIC must immediately increase its holding to 9.99%; acquisitions remain subject to RBI conditions and applicable regulations.
Investor: LIC
Bank: HDFC Bank
Maximum approved holding: 9.99%
The Competition Commission of India (CCI) approved Prudential Corporation Holdings Limited's proposal to acquire a majority stake in Bharti Life Insurance Company Limited.
The proposed transaction involves acquisition of approximately 75% for around ₹3,500 crore, subject to other required regulatory approvals.
The transaction is significant for India's insurance sector and foreign investment landscape.
India Ratings and Research (Ind-Ra) raised its forecast for India's real GDP growth in FY2026-27 to 6.8%, an increase of 10 basis points from its previous projection of 6.7%.
The agency cited factors including lower crude-oil prices while identifying risks from geopolitical tensions, inflation, currency depreciation and capital-expenditure trends.
Previous forecast: 6.7%
Revised forecast: 6.8%
Ind-Ra projected India's nominal GDP growth at 10.4% in FY2026-27, compared with approximately 8.9% in FY2025-26.
It also projected:
FY27 CPI inflation: approximately 4.9%
FY27 WPI inflation: approximately 8.5%.
President Droupadi Murmu gave assent to legislation relating to taxation and payment and settlement systems during the period.
The development is important for banking and financial-sector examinations because India's payment-system regulatory architecture determines the legal framework within which payment systems and related financial infrastructure operate.
The Government of India and the Asian Development Bank (ADB) signed a US$230 million loan agreement to modernise and expand water-supply and sanitation infrastructure in Chennai, Tamil Nadu.
A major component is the development of a comprehensive ring-main water-supply system.
Chennai is expected to become the first Indian city with a comprehensive ring-main water-supply system.
Lender: ADB
Loan: US$230 million
Beneficiary: Chennai, Tamil Nadu
ADB and the Government of Karnataka signed another loan agreement worth approximately ₹1,750 crore for upgrading government schools.
The four-year programme, scheduled until 2029-30, will improve school infrastructure and learning facilities.
The programme includes campuses providing education from LKG to Class XII, with capacity for at least 1,200 students at each participating school.
Fintech company Razorpay introduced a Multi-Currency Exchange Earners' Foreign Currency (EEFC) settlement facility for exporters and internationally operating businesses.
The facility allows eligible businesses to retain foreign-currency earnings rather than immediately converting all receipts into Indian rupees.
It supports:
US Dollar (USD)
Euro (EUR)
British Pound (GBP)
UAE Dirham (AED)
Singapore Dollar (SGD)
The Multi-Currency EEFC facility is offered in partnership with RBL Bank.
The facility is designed to help exporters:
Reduce repeated foreign-exchange conversion costs
Manage international earnings
Improve cash-flow management
Simplify cross-border payments.
Businesses must maintain an eligible EEFC account with an RBI-authorised bank.
The Directorate General of Foreign Trade (DGFT) eased rules governing Indian Rupee invoicing for exporters under India's Foreign Trade Policy.
The changes are intended to encourage greater use of the Indian Rupee in international trade settlement and reduce dependence on third-country currencies for eligible transactions.
Exports financed through the Export-Import Bank of India or Government of India lines of credit may also be eligible for INR invoicing under applicable conditions.
The relaxation of export-invoicing rules is part of India's broader effort to increase international use of the Indian Rupee (INR).
Greater rupee settlement can potentially:
Reduce foreign-exchange risk
Lower transaction costs
Decrease dependence on major reserve currencies
Strengthen India's financial integration with trading partners.
Wizzmoni Financial Services partnered with Oman Air to launch the co-branded Wizz Voyager Multi-Currency Card.
The AI-enabled travel card is aimed at international travellers, including students, professionals and tourists.
It supports more than 35 currencies and offers digital foreign-exchange management through a mobile application.
The Wizz Voyager card is a prepaid multi-currency foreign-exchange card issued by Wizzmoni, an RBI-authorised Category-II Authorised Dealer, in association with Visa.
The platform integrates payments, foreign exchange, rewards and travel-related financial benefits.
The Government appointed former ISRO Chairman S. Somanath as a Part-time Non-Official Director on the Central Board of the Reserve Bank of India.
His appointment is for four years with effect from 20 August 2026.
Somanath served as Chairman of ISRO and Secretary, Department of Space, from January 2022 to January 2025.
The Government also reappointed Anand Mahindra, Chairman of the Mahindra Group, as a Part-time Non-Official Director on RBI's Central Board.
The reappointment is for four years from 20 August 2026.
Further appointments to RBI's Central Board were approved by the Appointments Committee of the Cabinet during the period.
The appointments included individuals with experience spanning public finance, economics, financial-sector reforms and diplomacy, strengthening the diversity of expertise available to RBI's Central Board.
The individual appointment details can also be retained under the separate Appointments & Resignations category.
India's Index of Core Industries (ICI) registered year-on-year growth of 5.4% in July 2026.
Cumulative growth during April–July 2026 stood at approximately 4.3%.
The core-industries index tracks major infrastructure sectors and is an important indicator of industrial activity.
India's core-industries index covers eight major sectors:
Coal
Crude Oil
Natural Gas
Refinery Products
Fertilisers
Steel
Cement
Electricity
These industries carry substantial weight in India's Index of Industrial Production (IIP) and are closely monitored for indications of underlying economic activity.
VinFast India signed an MoU with Federal Bank to provide customised inventory-financing solutions to VinFast's authorised dealer network.
The partnership is designed to help dealers manage working capital and maintain vehicle inventories while supporting VinFast's expansion in India's electric-vehicle market.
Bank: Federal Bank
Company: VinFast India
Purpose: Dealer inventory financing
Punjab National Bank (PNB) signed an MoU with the Indian Army to offer specially designed credit cards for Army personnel.
The products include:
PNB LUXURA Metal Credit Card – targeted at Army officers
PNB Parakram Credit Card – designed for Junior Commissioned Officers and other ranks.
The initiative expands specialised financial services for defence personnel.
July 2026 total exports: US$80.14 billion
July 2026 total imports: US$95.16 billion
Export growth: 13.31%
April–July FY2026-27 exports: US$316.42 billion
Growth: 13.16%
July 2026 WPI inflation: 9.78%
WPI base year: 2022-23
Primary Articles inflation: 8.52%
Fuel & Power inflation: 20.05%
Manufactured Products inflation: 8.29%
July CPI inflation: 4.45%
Rural CPI inflation: 4.84%
Urban CPI inflation: 3.96%
Food inflation: 5.52%
Logistics Data Bank milestone: 10 crore EXIM containers
Market regulator: SEBI
SEBI debt-security proposal: Credit Risk-o-Meter
EU carbon-trade mechanism: CBAM
UPI operator: NPCI
UPI regulator: RBI
UPI milestone: 10 years
FY2025-26 UPI volume: 24,162+ crore transactions
FY2025-26 UPI value: Around ₹314 lakh crore
UPI share of India's digital payments: 84%
UPI share of global real-time payments: Around 49%
July 2026 UPI transactions: 2,366 crore
July 2026 UPI transaction value: ₹29.88 lakh crore
Average daily UPI transactions: Around 66 crore
Banks live on UPI as of July 2026: 741
Countries accepting UPI: 11
New SEBI cybersecurity initiative: Cyber Suraksha Portal
NICDIT: National Industrial Corridor Development and Implementation Trust
NICDP: National Industrial Corridor Development Programme
RBI Governor: Sanjay Malhotra
Repo rate during the period: 5.25%
RBI forex swap window revised closure: 31 August 2026
IDFC FIRST Bank maiden global bond: US$500 million
IDFC FIRST bond coupon: 5.625%
ICICI Bank overseas borrowing limit: US$5 billion
J&K Bank insurance partner: HDFC Life
India's first NBFC with exclusive silver-loan branches: Paul Merchants Finance
Silver-loan range: ₹2,000–₹15 lakh
Paramotor Digital partner: NSDL Payments Bank
LIC approved maximum holding in HDFC Bank: 9.99%
Prudential proposed Bharti Life stake: 75%
Approximate transaction: ₹3,500 crore
Ind-Ra FY27 GDP forecast: 6.8%
Ind-Ra FY27 nominal GDP forecast: 10.4%
ADB Chennai loan: US$230 million
ADB Karnataka school financing: ₹1,750 crore
Razorpay EEFC banking partner: RBL Bank
Currencies supported by Razorpay EEFC: USD, EUR, GBP, AED and SGD
International trade-invoicing currency promoted: Indian Rupee
Wizz Voyager: AI-powered multi-currency travel card
Currencies supported: More than 35
Wizzmoni airline partner: Oman Air
Card network: Visa
S. Somanath RBI Central Board tenure: Four years from 20 August 2026
Anand Mahindra: Reappointed to RBI Central Board
July 2026 Core Industries growth: 5.4%
April–July core-sector growth: 4.3%
Federal Bank partner: VinFast India
PNB Army cards: PNB LUXURA Metal and PNB Parakram
