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RBI Guidelines on Digital Banking Channels On 28th November 2025, the Reserve Bank of India (RBI) released the Master Directions titled ‘Digital Banking Channels Authorisation’. The Directions came into effect on 1st January 2026 and aim to standardise and regulate India’s expanding digital banking ecosystem. Aspect Details Applicability The Directions apply to commercial banks, including the State Bank of India, but exclude Smal

RBI Draft Revised Guidelines for Lead Bank Scheme (LBS)

RBI Draft Revised Guidelines for Lead Bank Scheme (LBS) On 13 February 2026, the Reserve Bank of India (RBI) issued draft revised guidelines for the Lead Bank Scheme (LBS) and invited public comments. The revision aims to strengthen district-level banking coordination and improve credit planning, financial inclusion, and monitoring mechanisms. Aspect Details Lead Bank Scheme The Lead Bank Scheme is a framework for district-level banking coordinati

Standing Deposit Facility

Standing Deposit Facility On 9th April 2025, RBI Governor Sanjay Malhotra expressed concern that banks were increasingly parking surplus funds in the Standing Deposit Facility (SDF) instead of lending them in the market. The SDF is an important liquidity management tool used by the Reserve Bank of India (RBI) under the Liquidity Adjustment Facility (LAF). Aspect Details What is SDF? The Standing Deposit Facility (SDF) is a liquidity management too

RBI Introduces STRIPS in State Government Securities

RBI Introduces STRIPS in State Government Securities On 12th June 2025, the Reserve Bank of India (RBI) formally introduced the facility of stripping and reconstitution in the State Government Securities (SGS) market. The move aims to deepen the bond market, improve liquidity, and expand investment options for institutions requiring predictable cash flows. Aspect Details What are STRIPS? STRIPS involve splitting a standard coupon-bearing governmen

RBI Approves Risk-Based Deposit Insurance Framework for Banks

RBI Approves Risk-Based Deposit Insurance Framework for Banks On 19th December 2025, the Reserve Bank of India (RBI) approved a risk-based deposit insurance framework for banks at its 620th board meeting. The reform aims to incentivise prudent banking behaviour and reduce moral hazard by rewarding well-managed financial institutions. Aspect Details Deposit Insurance Deposit insurance protects bank depositors against the risk of losing their deposi

Reserve Bank - Integrated Ombudsman Scheme, 2026

Reserve Bank - Integrated Ombudsman Scheme, 2026 On 16th January 2026, the Reserve Bank of India (RBI) issued the revised Reserve Bank - Integrated Ombudsman Scheme (RB-IOS), 2026. The scheme provides a cost-effective, expeditious, and non-adversarial grievance redress mechanism for complaints against regulated financial entities. Aspect Details Purpose of Scheme RB-IOS provides an alternative grievance redress mechanism for resolving complaints a

Foreign Currency Settlement System for GIFT IFSC

Foreign Currency Settlement System for GIFT IFSC On 7th October 2025, the Centre launched a Foreign Currency Settlement System (FCSS) at the International Financial Services Centre (IFSC) in GIFT City. The system is designed to support real-time settlement of foreign currency transactions within the IFSC and reduce dependence on older correspondent banking channels. Aspect Details FCSS The Foreign Currency Settlement System is a real-time payment

CBDC-based Digital Food Coupon

CBDC-based Digital Food Coupon On 14th February 2026, the Union Government launched a Central Bank Digital Currency (CBDC)-based Digital Food Currency pilot in Gujarat. The initiative has been launched in collaboration with the Reserve Bank of India (RBI) and the Gujarat government under the Public Distribution System (PDS). Aspect Details Digital Food Coupon Under the CBDC framework, food coupons can be issued through the RBI and credited directl

Common Contract Note

Common Contract Note The Securities and Exchange Board of India (SEBI) has deferred the rollout of the Common Contract Note (CCN) for Foreign Portfolio Investors (FPIs) to 1 July 2025. The implementation was earlier scheduled for 30 April 2025. The reform aims to streamline reporting and trade documentation across stock exchanges. Aspect Details Contract Note A contract note is a legal document issued by brokers to investors summarising all trades

Startup India Fund of Funds 2.0

Startup India Fund of Funds 2.0 On 13th February 2026, the Union Cabinet approved the establishment of the Startup India Fund of Funds 2.0 (FoF 2.0) with a corpus of Rs. 10,000 crore. The initiative has been launched under the broader Startup India programme to strengthen India’s startup ecosystem and deepen access to growth capital. Aspect Details FoF 2.0 Approval The Union Cabinet approved the Startup India Fund of Funds 2.0 with a total c

MSMEs: Core of India’s Global Growth Strategy

MSMEs: Core of India’s Global Growth Strategy The Union Budget 2026-27 places Micro, Small and Medium Enterprises (MSMEs) at the centre of India’s growth strategy with a major focus on competitiveness, exports, employment and financing support. The Budget introduces a three-pronged strategy covering equity support, liquidity support, and professional support to help MSMEs emerge as globally competitive enterprises. Aspect Details SME Growt