Reserve Bank of India (RBI) releases Rs 2.54 lakh crore state borrowing calendar for April-June 2026
[Reserve Bank of India (RBI)]
Key Updates:
- RBI announces indicative calendar for state market borrowings worth Rs 2,54,509 crore during April-June 2026.
- Nine pilot states—Andhra Pradesh, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, Uttar Pradesh—adopt Benchmark Issuance Strategy (BIS).
- Pilot states to raise Rs 1,53,900 crore under BIS framework.
- Remaining states and Union Territories to borrow Rs 1,00,609 crore through traditional methods.
- RBI retains right to revise auction dates and amounts in consultation with states.
Similar Coverage
- The Reserve Bank of India (RBI) infused ₹48,014 crore into the banking system through a seven-day variable rate repo (VRR) auction.
- The funds were injected at a cut-off and weighted average rate of 5.26 per cent.
- The auction amount was significantly lower than the notified ₹1.50 lakh crore.
- Surplus liquidity in the banking system dropped to around ₹75,483.63 crore as of March 16 from ₹2.08 lakh crore on March 15 due to advance tax outflows.
- Since January 2026, the RBI has infused ₹3.50 lakh crore of durable liquidity through open market purchases (OMO) of government securities.
- Gross market borrowing for 2026-27 fixed at Rs 17.2 lakh crore.
- Net market borrowing pegged at Rs 11.7 lakh crore.
- Gap of Rs 5.5 lakh crore between gross and net borrowing reflects repayment of earlier debt.
- Capital expenditure target for FY27 set at Rs 12.2 lakh crore.
- Borrowing programme overseen by Department of Expenditure in coordination with Reserve Bank of India (RBI).
- The World Bank (WB) report for the 16th Finance Commission (FC) identified Karnataka as a template for including Public Sector Undertaking (PSU) and Special Purpose Vehicle (SPV) debt in state liabilities.
- Karnataka amended the Karnataka Fiscal Responsibility Legislation Act in February 2014 to broaden the definition of liabilities and curb off-budget borrowing (OBB).
- The Union Government brought 93 per cent of its off-budget liabilities, approximately ₹3.7 trillion, onto its balance sheet by Financial Year (FY) 2022.
- The WB found discrepancies in OBB reporting for 2021-22, noting Tamil Nadu reported ₹594 crore against the Comptroller and Auditor General of India (CAG) estimate of ₹12,357 crore.
- West Bengal disclosed ₹1,089 crore in OBB compared to the CAG audit figure of ₹4,311 crore for an earlier year.
- In 2022-23, spending under Minor Head 800 – Others accounted for over 15 per cent of expenditure in Madhya Pradesh, nearly 15 per cent in Tamil Nadu, and close to 12 per cent in Andhra Pradesh.
- State entities borrowed between ₹3.1 trillion and ₹4.9 trillion annually from Public Sector Banks (PSBs) from 2018-19 to 2022-23.
- Major lenders for state-level OBB include the National Bank for Agriculture and Rural Development (NABARD), Housing and Urban Development Corporation (HUDCO), REC, and Power Finance Corporation (PFC).
- The report proposed a standardised reporting framework for OBB to be enforced by the CAG under Article 150 of the Constitution.
- The Reserve Bank of India (RBI) will conduct two open market operation (OMO) purchase auctions of ₹50,000 crore each on March 9 and March 13.
- The OMO purchases aim to infuse liquidity into the banking system ahead of mid-March advance tax outflows of approximately ₹2 lakh crore.
- Banking system liquidity averaged a daily surplus of ₹2.63 lakh crore in March, up from ₹2.53 lakh crore in February.
- The RBI purchased ₹12,715 crore of bonds on-screen in February and likely bought additional bonds in the first week of March.
- State Bank of India (SBI) saw its liquidity coverage ratio (LCR) fall to 125% in Q3 from 144% in Q2 due to strong credit growth outpacing deposit accretion.
- Vedanta Ltd plans to raise about ₹3,000 crore through domestic three-year and five-year non-convertible debentures offering coupons around 8.75% and 9% respectively next week.
- Bank of Baroda raised ₹10,000 crore via green infrastructure bonds.
Reserve Bank of India (RBI) data shows banking system CASA ratio drops to 37.9% in December 2025 quarter.
[Reserve Bank of India (RBI)]
Key Updates:
- Reserve Bank of India (RBI) data placed the banking system’s CASA ratio at a two-year low of 37.9% in December 2025 quarter against 40.1% in December 2023 quarter.
- Savings account share within total deposits fell 210 basis points to 28.9%.
- Aggregate bank deposits rose 10% year-on-year to ₹239.8 lakh crore by December 2025, slower than the 11% growth in the year-earlier quarter.
- Savings account balances grew 8% year-on-year to ₹69.4 lakh crore in December 2025 quarter, up from 5% growth a year earlier.
- Current account deposits expanded 10% to ₹21.4 lakh crore in December 2025 quarter versus 9% growth in December 2024 quarter.
- Certificates of deposit issuances by banks hit a record ₹15.5 lakh crore in FY26, marking a 17% year-on-year increase.
- Credit-deposit ratio touched an all-time high of 83.0% driven by seasonal tax-related deposit outflows.
- Total bank credit stood at ₹207.7 lakh crore as of 15 March 2026, recording 13.5% year-on-year growth compared with 11.1% a year earlier.
- Aggregate bank deposits reached ₹250.1 lakh crore, rising 10.8% year-on-year, up from 10.2% growth in the previous year.
Similar Coverage
- Ministry of Statistics and Programme Implementation (MOSPI) announced new CPI 2024 series to release on 12 February.
- Food and beverages weight declines from 45.9 percent in 2012 to 36.8 percent in 2024, a 9.1 percentage point reduction.
- Housing, water, electricity, gas and other fuels category weight rises from 16.9 percent to 17.7 percent.
- House rent index compilation extended to rural areas for first time using Census 2011 dwelling type weights.
- Six rented dwellings selected per rural village versus 12 per urban market under revised Index.
- Transport category weight increases marginally to 8.8 percent.
- Health category weight rises to 6.1 percent.
- Education services weight declines to 3.3 percent from 4.5 percent.
- Ministry of Statistics and Programme Implementation (MoSPI) announced the new Consumer Price Index (CPI) 2024 series to be released on 12 February 2026.
- Food and beverages weight in CPI basket lowered from 45.9% in 2012 to 36.8% in 2024, a reduction of 9.1 percentage points.
- Housing, water, electricity, gas and other fuels category weight rose from 16.9% to 17.7%, becoming the second-largest gainer.
- House rent index compilation extended to rural areas for the first time, selecting six rented dwellings per rural village versus 12 per urban market.
- Census 2011 data now used for dwelling type weights, replacing the earlier Housing Condition Survey.
- Transport weight increased marginally to 8.8% and health weight rose to 6.1%.
- Education services weight declined to 3.3% from 4.5%.
- Gross NPAs of Scheduled Commercial Banks (SCBs) for domestic operations declined to a historic low of 2.15% as of September 2025.
- Public sector banks (PSBs) recorded a gross NPA ratio of 2.50%, private sector banks 1.73%, and foreign banks 0.80% as on 30 September 2025.
- The slippage ratio for PSBs fell to 0.8% in September 2025, lower than the 1.8% recorded by private sector banks.
- Over 30,000 pre-admission cases involving defaults of ₹13.78 lakh crore were settled under the Insolvency and Bankruptcy Code (IBC) as of March 2025.
- The Reserve Bank of India (RBI) initiated the Asset Quality Review in 2015, followed by the government's 4R strategy: recognition, resolution, recapitalisation, and reforms.
- The new GDP series (FY23 base) pegs FY26 nominal GDP at ₹345.47 lakh crore, 3.3% lower than the budget estimate based on the old series.
- With a 10% nominal growth assumed for FY27, the targeted fiscal deficit of ₹16.96 lakh crore equals 4.46% of GDP against the budgeted 4.31%.
- The FY26 fiscal deficit target becomes 4.51% of GDP instead of 4.36% unless the absolute deficit is cut.
- The FY24 and FY25 fiscal deficit ratios are revised upwards to 5.7% and almost 4.95% of GDP from 5.5% and 4.8% respectively.
- The debt-to-GDP ratio for FY27 is now estimated at 57.5%, 1.9 percentage points higher than the budgeted 55.6%.
- ICRA chief economist Aditi Nayar stated the consolidation path to FY31 is relatively steeper under the new series.
- India Ratings chief economist DK Pant said fiscal consolidation and nominal growth rates must be stronger than previously assumed to meet targets.
Commission for Air Quality Management (CAQM) reviews 175 inspections for air pollution abatement in National Capital Region (NCR)
[Commission for Air Quality Management (CAQM)]
Key Updates:
- The Commission for Air Quality Management (CAQM) Enforcement Task Force (ETF) reviewed 175 inspections and enforcement actions conducted in the National Capital Region (NCR) between 14 March and 26 March.
- The 128th meeting of the ETF resulted in proposed closures for 10 units and the sealing of diesel generator sets for 27 units.
- Show Cause Notices (SCNs) were issued to eight units, and Environmental Compensation (EC) was proposed for one unit for violating environmental norms.
- The inspections included 114 diesel generator set violations, 37 industrial sector units, and 23 construction and demolition sites.
- Sectoral enforcement in 16 zones across Meerut and Faridabad revealed 140 violations, leading to directions for corrective actions by municipal bodies.
Similar Coverage
- Union Minister for Law and Justice Arjun Ram Meghwal participated in the 12th Asian and Pacific Regional Conference organised by the All India Prosecutors’ Association (AIPA) in New Delhi.
- Discussions at the conference focused on judicial system reforms and strengthening the prosecution mechanism.
- The Minister stated that the government is promoting innovation in the judicial sector through technology and institutional reforms to enhance transparency, accessibility, and effectiveness of the justice system.
- Efforts are ongoing to ensure swift and accessible justice delivery to all citizens.
- India will host the 16th ASEAN Defence Ministers’ Meeting (ADMM)-Plus Experts Working Group (EWG) on Counter-Terrorism (CT) in New Delhi from January 14 to 16, 2026.
- The 16th EWG on Counter-Terrorism will be co-chaired by India and Malaysia.
- Participation will include 11 ASEAN member states, 7 ADMM-Plus dialogue partners (Australia, New Zealand, Republic of Korea, Japan, China, United States and Russia), and representatives from the ASEAN Secretariat.
- Malaysia will host the Table Top Exercise (TTX) in 2026 and India will conduct the Field Training Exercise (FTX) in 2027.
- Union home minister Amit Shah chaired the ninth apex-level meeting of the Narco-Coordination Centre (NCORD) in New Delhi.
- A nationwide campaign against drugs will be launched from March 31, 2026, for a period of three years.
- All central government departments must prepare a roadmap up to 2029 with a monitoring mechanism to address the drug problem comprehensively.
- The 7th All India Conference of Government Railway Police Chiefs was held at Vigyan Bhawan.
- The conference was organised by the Ministry of Railways (MoR).
- The event focused on strengthening passenger and railway infrastructure security.
- Key discussion areas included coordinated operations, speedy FIR registration and advanced surveillance technologies.
SAMPANN platform adopted by Goa government and Cochin Port Authority for digital pension disbursement
[Goa, Cochin Port Authority]
Key Updates:
- The Government of Goa and the Cochin Port Authority signed agreements to join the Department of Telecommunications' (DoT) digital platform SAMPANN for pension disbursement.
- The signing ceremony was presided over by Union Communications Minister Jyotiraditya Scindia in New Delhi.
- SAMPANN, developed by the Office of the Controller General of Communication Accounts (CGCA), is an end-to-end digital platform covering the entire pension lifecycle.
- Currently, SAMPANN directly credits pensions for approximately 4.8 lakh telecom pensioners of DoT, BSNL, MTNL, and VSNL.
- DoT is offering SAMPANN as a 'Platform as a Service' (PaaS) to other departments, state governments, and Public Sector Undertakings (PSUs).
Similar Coverage
- The Office of the Principal Controller of Communication Accounts (Pr CCA), Delhi has integrated the System for Accounting and Management of Pension (SAMPANN) pension portal with DigiLocker.
- SAMPANN is a government-run digital platform designed to make pension services easier for Department of Telecommunications (DoT) retirees.
- The integration enables pensioners to access key documents such as e-Pension Payment Orders (e-PPOs), gratuity sanction orders, communication sanctions, and Form-16 online.
- The SAMPANN platform was launched by Prime Minister Narendra Modi in December 2018.
- The platform is developed and managed by the Office of the Controller General of Communication Accounts and handles pension payments and related financial work online.
- The platform has digitised the entire pension lifecycle—from initiation and processing of cases to issuance of e-Pension Payment Orders, disbursement, accounting, reconciliation, financial reporting, audit facilitation, and grievance redressal.
- The Pension Fund Regulatory and Development Authority (PFRDA) has constituted a high-level committee to formulate guidelines and regulations for establishing a framework for assured payouts under the National Pension System (NPS).
- The committee will be chaired by Dr. M. S. Sahoo, Founder of Dr. Sahoo Regulatory Chambers and former Chairperson of the Insolvency and Bankruptcy Board of India (IBBI).
- The 15-member panel comprises experts from law, actuarial science, finance, insurance, capital markets, and academia.
- The committee has been established as a standing advisory committee on structured pension payouts.
- Its core objectives include formulating regulations for assured payout products, designing an end-to-end framework for transition from accumulation to payout phase, and enabling legally enforceable, market-based guarantees for assured payouts.
- The committee will define operational parameters such as lock-in periods, withdrawal limits, pricing methodologies, and fee and cost structures for service providers.
- It will establish capital and solvency requirements for providers and examine tax implications for payout options within the NPS architecture.
- The committee will develop standardized disclosure norms to prevent mis-selling and align subscriber expectations with market-based guarantees.
- ICICI Prudential Pension Funds Management Company introduced the Swasthya Pension Scheme under the Pension Fund Regulatory and Development Authority (PFRDA) regulatory sandbox framework.
- Subscribers can make multiple withdrawals of up to 25 per cent of their own contributions.
- In medical emergencies exceeding 70 per cent of the corpus, premature closure is allowed with payments made directly to the healthcare provider.
- For the sandbox phase, the healthcare network is anchored by Apollo Hospitals and services are accessible through the Apollo 24/7 app, pharmacies, hospitals and diagnostic centres.
- Physical pharmacies and hospitals under the scheme are currently limited to Bengaluru and Hyderabad during the pilot.
- KFin Technologies is the digital partner for the initiative.
- Pension Fund Regulatory and Development Authority (PFRDA) has introduced NPS Swasthya on a pilot basis to help subscribers build a separate health corpus within their pension account.
- Any Indian citizen can voluntarily enrol in NPS Swasthya and contribute any amount without an upper limit through their chosen pension fund manager.
- Existing non-government NPS subscribers above 40 years can transfer up to 30% of their total contributions from Common Account to Swasthya Account.
- Subscribers can withdraw up to 25% of their own contributions per instance for medical expenses after accumulating a minimum corpus of Rs 50,000.
- For critical hospitalisation bills exceeding 70% of the Swasthya corpus, 100% lump-sum withdrawal is allowed under the premature exit option.
- Withdrawn amounts are paid directly to the Health Benefit Administrator (HBA) or Third Party Administrator (TPA) against valid medical bills, and any surplus is transferred back to the Common Scheme Account.
- The scheme operates under PFRDA's Regulatory Sandbox Framework with limited enrollment, and if found unviable, the accumulated corpus can be transferred back to the Common Account without loss.
Postal Training Centre Saharanpur Platinum Jubilee Commemorative Stamp Released on 02-04-2026
[Postal Training Centre (PTC) Saharanpur]
Key Updates:
- Postal Training Centre (PTC) Saharanpur completed 75 years since its establishment on April 2, 1951.
- Union Minister of Communications Shri Jyotiraditya M. Scindia released a commemorative postage stamp at Rang Bhawan Sabhagaar, Akashwani Bhawan, New Delhi on 02-04-2026.
- PTC Saharanpur trains nearly 3,000 employees annually across 56.71-acre campus.
- The centre serves postal personnel of eight States and Union Territories in Northern India.
- The commemorative stamp is available at Philatelic Bureaus across India and through India Post’s official online portal.
Similar Coverage
- President Droupadi Murmu inaugurated the centenary celebration of the Ol Chiki script organised by the Ministry of Culture (MoC).
- Ol Chiki script was invented in 1925 by Pandit Raghunath Murmu for the Santhali language.
- Santhali language was included in the Eighth Schedule of the Constitution of India in 2003.
- President released a commemorative coin and postage stamp to mark 100 years of Ol Chiki.
- President felicitated 10 achievers from the Santal community for promoting Ol Chiki script.
- Constitution of India was officially translated into Santhali language in Ol Chiki script and released by President in December 2025.
- The Department of Posts (DoP) issued a special set of eight commemorative postage stamps titled Puppets of India on 13 February 2026 at the India Habitat Centre, New Delhi.
- The stamps were formally released by Ms. Vandita Kaul, Secretary (Posts), to honour the master puppeteers and the diverse puppetry heritage of India.
- The commemorative set features eight regional traditions: Kathputli (Rajasthan), Yakshagana Sutrada Gombeyatta (Karnataka), Daanger Putul (West Bengal), Kathi Kundhei (Odisha), Benir Putul (West Bengal), Pavakathakali (Kerala), Ravanachhaya (Odisha), and Tolu Bommalatta (Andhra Pradesh).
- The denomination of each stamp in the set is 500 paise (₹5), with the complete set comprising eight stamps.
- The stamp set and associated philatelic products were designed by Shri Sankha Samanta with artistic and textual inputs from Sangeet Natak Akademi (SNA) and Indira Gandhi National Centre for the Arts (IGNCA).
- The stamps are available at Philatelic Bureaus across the country and through the official online portal www.epostoffice.gov.in.