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India forex reserves jump 2.3 billion to 703.30 billion after rupee pressure

India forex reserves jump 2.3 billion to 703.30 billion after rupee pressure

India’s foreign exchange reserves rose by $2.3 billion to $703.30 billion for the week ending April 17, reversing some of the drawdown seen earlier. The depletion followed pressure on the rupee after the Middle East conflict, when RBI intervention helped stabilize currency swings. Reserves were last at an all-time high in February 2026.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI wants IBC to replace may with shall to speed up bankruptcy approvals

RBI wants IBC to replace may with shall to speed up bankruptcy approvals

India’s bankruptcy process under the IBC is plagued by long delays, with cases lingering for years. RBI now proposes tightening timelines by changing key wording: moving from “may” to “shall” for whether authorities admit insolvency applications. An amendment bill incorporating the regulator’s suggestions is expected to be tabled in the upcoming budget session.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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RBI drafts new rules for prepaid wallets splitting KYC, limits and foreign travel use

RBI drafts new rules for prepaid wallets splitting KYC, limits and foreign travel use

The RBI has released draft Master Directions on Prepaid Payment Instruments (PPIs) to replace the 2021 framework, tightening oversight for banks, fintechs and wallet operators. The proposal sharply categorises PPIs by KYC levels, sets strict monthly and outstanding caps, expands UPI-linked options for foreign visitors, and mandates escrow, reporting, and clearer customer disclosures—while limiting cross-border use.

Summarised by Beize from a story on Inc42 on 24 Apr 2026
PhonePe surges past 1000 crore UPI transactions in March as Google Pay and Paytm lose share

PhonePe surges past 1000 crore UPI transactions in March as Google Pay and Paytm lose share

PhonePe strengthened its lead in India’s UPI ecosystem in March, with transactions up 88% to 1,050 crore and overall UPI volume hitting record highs. NPCI data shows the month’s transaction value climbed to 29.53 lakh crore. Google Pay and Paytm saw slight market-share declines, while smaller players like Navi and super.money gained modest ground. Regulatory moves on PPIs and new UPI use cases also loom.

Summarised by Beize from a story on Inc42 on 24 Apr 2026
Anthropic’s Claude Mythos found thousands of zero days and banks are now on alert worldwide

Anthropic’s Claude Mythos found thousands of zero days and banks are now on alert worldwide

Finance minister Nirmala Sitharaman met bank heads after Anthropic’s limited release of Claude Mythos, an AI system built to find high-severity zero-day vulnerabilities. Regulators including the RBI, MeitY, NPCI and global central banks are assessing how fast such models could enable cyberattacks in banking and legacy systems. Banks are told to tighten monitoring, pre-emptively secure IT, and report incidents immediately.

Summarised by Beize from a story on Inc42 on 24 Apr 2026
RBI unveils draft PPI rules 2026 to reshape wallets and KYC limits for users and fintechs

RBI unveils draft PPI rules 2026 to reshape wallets and KYC limits for users and fintechs

The RBI has released a draft Master Direction on Prepaid Payment Instruments (PPIs) 2026, replacing the current 2021 framework. It tightens KYC and sets wallet usage caps, including limits on monthly debits and outstanding balances. Small PPIs can be issued with minimal data but must convert to full KYC within two years. The draft also increases escrow supervision and extends wallet use cases for international tourists.

Summarised by Beize from a story on Startup Talky on 24 Apr 2026

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RBI warns of short term jitters and flags FDI outflows while touting strong fundamentals

RBI warns of short term jitters and flags FDI outflows while touting strong fundamentals

RBI Governor Sanjay Malhotra told financial leaders in New York that the central bank is closely monitoring short-term economic fluctuations, including FDI outflows. He outlined reforms to strengthen foreign investment and deepen market integration, while pointing to India’s low inflation and strong foreign exchange reserves as proof of resilient fundamentals.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI clears banks to fund domestic M and A deals reshaping corporate credit battle

RBI clears banks to fund domestic M and A deals reshaping corporate credit battle

The Reserve Bank of India has allowed banks to finance domestic mergers and acquisitions, updating capital market exposure guidelines and bringing regulation closer to global norms. The move is expected to expand credit availability, help banks regain market share from non-bank lenders, and push them to build specialized M&A advisory and underwriting capabilities to support corporate growth.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI launches special audits to test whether Indian banks truly meet liquidity rules

RBI launches special audits to test whether Indian banks truly meet liquidity rules

The RBI has conducted special audits to verify whether Indian banks are meeting liquidity criteria, essentially checking that their balance sheets hold up under regulatory expectations. The move signals the central bank’s focus on compliance and risk monitoring, using targeted reviews to confirm banks are following liquidity rules rather than assuming they are.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI curbs jolt rupee forwards as banks retreat from usual dollar bets

RBI curbs jolt rupee forwards as banks retreat from usual dollar bets

New RBI limits on banks’ net open rupee positions sparked sharp swings in dollar rupee forwards. The domestic and overseas rate gap widened early as banks expected to sell dollars locally, then narrowed quickly when banks shifted to a wait and watch stance. With expectations of possible RBI relief, the difference settled close to the near-Friday closing level.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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RBI reverses key forex rules letting banks offer NDFs and rebook trades

RBI reverses key forex rules letting banks offer NDFs and rebook trades

The RBI has withdrawn its April 1 directive that limited banks from offering non-deliverable forward (NDF) contracts and prohibited rebooking of cancelled foreign exchange derivative trades. The change restores operational flexibility for lenders, enabling a smoother forex derivatives workflow and potentially improving market liquidity for hedging and trading.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Banks cut overseas forex bets fast ahead of RBI deadline slashing exposure to single digits

Banks cut overseas forex bets fast ahead of RBI deadline slashing exposure to single digits

Indian banks have largely unwound their net open foreign exchange positions ahead of an RBI deadline, shrinking aggregate exposure from about $40 billion to roughly $4–7 billion. The regulatory-driven exit is expected to keep pressure on the rupee, with traders eyeing a 93/$ to 94.50/$ band and a depreciating bias.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI warns rupee volatility tactics are temporary lifting soon says deputy governor Sankar

RBI warns rupee volatility tactics are temporary lifting soon says deputy governor Sankar

RBI deputy governor Sankar said the central bank’s curbs on banks’ currency trading are temporary and will be lifted soon. The steps were introduced to manage rupee volatility, but the RBI reiterated it will continue pursuing long-term goals like rupee internationalization and building a more unified dollar-rupee market.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI’s new payment rules shift compliance burden and quietly open the door to cross border UPI

RBI’s new payment rules shift compliance burden and quietly open the door to cross border UPI

RBI has introduced a new framework for licensed payment aggregators and payment gateways for cross-border merchant payments, making them fully responsible for PMLA compliance and suspicious transaction reporting. The regulator aims to bring clarity and clearer ownership to merchant payments, while also allowing UPI to be used—raising hopes for a true India cross-border payments upgrade.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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RBI is easing but India long term rates keep climbing — what’s driving the break from policy

RBI is easing but India long term rates keep climbing — what’s driving the break from policy

Even as the RBI has cut the repo rate by 125 basis points in the past year, India’s long-term interest rates have continued rising for months. The gap between policy easing and market pricing is drawing attention, hinting that expectations around inflation, growth risks, and fiscal dynamics may be outweighing the central bank’s near-term stance.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI clears air on rumours of changing Mahatma Gandhi image on currency and banknotes

RBI clears air on rumours of changing Mahatma Gandhi image on currency and banknotes

The Reserve Bank of India has dismissed reports claiming it may replace Mahatma Gandhi’s image on existing currency and banknotes. RBI clarified there is no proposal for any change to the current Indian currency and banknotes, putting an end to speculation about altering the face on money already in circulation.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI keeps FPIs G sec investment cap at 6 percent for FY27

RBI keeps FPIs G sec investment cap at 6 percent for FY27

The Reserve Bank of India has decided to keep the foreign portfolio investor limit for government securities via the general route unchanged for 2026-27. The RBI set the ceiling at 6% of the outstanding stock of securities, signaling continuity in how foreign flows into G-secs will be managed despite evolving market conditions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI opens oil forex window to cut rupee pressure and boost appreciation hopes

RBI opens oil forex window to cut rupee pressure and boost appreciation hopes

The Reserve Bank of India has launched a special foreign exchange window to provide dollars to state-run refiners, a step designed to ease rupee pressure. The supply is expected to be routed through state-run lenders, reducing the heavy daily dollar demand tied to oil imports. Analysts say the move could support rupee appreciation in the near term.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Rupee drops 36 paise as RBI eases forex curbs yet traders get hedging squeeze

Rupee drops 36 paise as RBI eases forex curbs yet traders get hedging squeeze

The rupee fell 36 paise to around 93.13 per dollar after the RBI rolled back some forex curbs following Monday’s market close. Bank treasury heads said they remain cautious and are holding back non-deliverable forward (NDF) contracts to corporates as RBI likely monitors such trades. Dollar-rupee forward premiums rose, lifting hedging costs, with the 1-year forward yield up 10 bps to 3.10%.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Ceasefire hopes and RBI status quo cool bond yields near seven percent

Ceasefire hopes and RBI status quo cool bond yields near seven percent

Indian bond yields fell about 0.15% on Wednesday, slipping to below the key 7% mark as investors drew comfort from a conditional ceasefire in West Asia. The move also followed the Reserve Bank of India holding its policy rate steady, reinforcing expectations that monetary policy would remain unchanged for now.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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