CURRENT AFFAIRS

The Reserve Bank of India (RBI) has advised the Indian government to encourage BRICS countries to collaborate on using digital currencies for cross-border payments. Such a move could reduce transaction costs, speed up settlements, and lower dependence on the US dollar.

The Employees’ Provident Fund Organisation (EPFO), India’s premier retirement fund body, is undertaking a new phase of digital and institutional reforms under EPFO 3.0. These reforms aim to simplify access, enhance portability, and prepare the institution for expanded social security coverage under the Labour Codes.

As Union Budget 2026 approaches, India’s macroeconomic indicators project stability and relatively strong growth amid global uncertainty.

The Reserve Bank of India (RBI), in its State of the Economy article, has assessed India’s macroeconomic conditions using high-frequency indicators for December 2025.

Recently, the Department of Financial Services, Ministry of Finance, launched a comprehensive salary account package for central government employees in public sector banks.

The Supreme Court of India has ruled that venture capital firm Tiger Global’s $1.6-billion stake sale in Flipkart to Walmart is taxable in India.

The Reserve Bank of India has unveiled the revised Integrated Ombudsman Scheme, 2026, aimed at improving the efficiency, accessibility, and timeliness of complaint resolution for customers of banks and other regulated entities.

The Financial Intelligence Unit – India (FIU-IND) has issued revised guidelines for reporting entities providing services related to Virtual Digital Assets (VDAs).

The limited success of the Prime Minister's Internship Scheme (PMIS) is no longer just a matter of policy debate, but its impact is also directly visible in government expenditure figures. The poor implementation of the scheme during the financial year 2025–26 has severely impacted the budget utilization of the Ministry of Corporate Affairs. Between April and November 2025, the Ministry was able to spend only about 4% of its total budgetary allocation.

Recently, NITI Aayog released the Export Preparedness Index (EPI) 2024, assessing the export readiness and performance of India’s States and Union Territories (UTs) with the objective of strengthening India’s subnational contribution to global trade.