India’s central bank cancels licence of National Urban Cooperative Bank, triggers liquidation Change India’s Reserve Bank of India cancelled the licence of National Urban Cooperative Bank Ltd., Pratapgarh, prohibiting it from conducting banking business effective close of business April 10, 2026, and initiating winding-up proceedings through the state cooperative regulator. Why it matters The cancellation removes the bank’s authority to operate as a deposit-taking institution, freezing normal banking functions and shifting the institution into formal liquidation. Depositors and creditors must now rely on statutory recovery processes rather than ongoing bank operations. RBI · Apr 10 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
India RBI mandates faster crediting and notification of cross-border inward remittances Change India’s RBI issued a final circular requiring banks and payment service providers to accelerate beneficiary notification and crediting of cross-border inward remittances. Why it matters The circular imposes a binding timeliness standard on inward remittance processing, forcing banks and payment providers to eliminate delays in notification, reconciliation, and account crediting. RBI · Apr 9 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
India announces auction of ₹34,000 crore 6.48% bond due October 6, 2035 Change India announced the re-issue of a 6.48% Government of India bond maturing October 6, 2035, for a notified amount of ₹34,000 crore with an option to retain an additional ₹2,000 crore and scheduled the auction for April 10, 2026 via the Reserve Bank of India’s e-Kuber system. Why it matters Bidders must meet narrow electronic submission windows on April 10, 2026 for competitive and non-competitive bids or risk non-acceptance. Successful bidders are required to complete payment on April 13, 2026 to finalise settlement. RBI · Apr 6 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
India's RBI caps foreign portfolio investor debt allocations for 2026–27 Change India's RBI capped foreign portfolio investor allocations in central government securities at 6%, state government securities at 2%, and corporate bonds at 15% of outstanding stock for the General Route for fiscal 2026–27, set revised half‑year rupee ceilings, and made Voluntary Retention Route investments subject to those limits from April 1, 2026. Why it matters Debt allocations across sub‑categories are now fixed by percentage shares and periodic absolute rupee ceilings, which limits the amount of new foreign capital that can be absorbed each allocation window. Funds that had planned to use separate retention capacity must now include Voluntary Retention Route holdings within the General Route ceilings, reducing available headroom for fresh inflows. RBI · Apr 6 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
India's RBI cancels licence of The Shirpur Merchants Co-operative Bank Ltd., Shirpur Change India's RBI cancelled the licence of The Shirpur Merchants Co-operative Bank Ltd., Shirpur effective at the close of business on April 6, 2026, prohibiting the bank from conducting banking operations and asking the Maharashtra Registrar of Cooperative Societies to wind up the bank and appoint a liquidator. Why it matters The bank will no longer process routine account transactions or maintain branch banking services, removing usual access routes for deposits and payments. Recovery and settlement of creditor and depositor claims will proceed only through the formal winding-up and liquidation process once a liquidator is appointed. RBI · Apr 6 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
India's RBI extends directive on Sadbhav Nagrik Sahakari Bank to July 7, 2026 Change India's RBI extended its October 6, 2025 directive issued under subsection (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 for Sadbhav Nagrik Sahakari Bank Maryadit by three months, from the close of business on April 7, 2026 to the close of business on July 7, 2026, subject to review. Why it matters The extension keeps the existing RBI-imposed operational restrictions and safeguards on the bank active for an additional three months, preventing a resumption of normal regulatory standing during that period. Counterparties and regulators must continue to treat the bank as operating under a live directive until the extension is lifted or reviewed. RBI · Apr 6 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
India's RBI permits residents to exchange rupee notes at departure forex counters in international airports Change India's RBI amended its Master Direction to allow residents, as well as non-residents, to exchange Indian rupee notes at foreign-exchange counters located in duty-free or security-hold departure halls beyond immigration or customs at international airports. Why it matters Cash exchanges by residents at airport departure areas are limited to foreign-exchange counters inside duty-free or security-hold zones beyond the immigration or customs desks and cannot be conducted at landside or general terminal counters. Authorised Persons must align their airport forex operations and locations with the amended Master Direction or face enforcement under the Foreign Exchange Management Act, 1999. RBI · Apr 6 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
