MAY 2025

RBI Circular & RBI in News

Paid Current Affairs
by Aditya Sir
1st to 15th MAY
MCQs Revision
WELCOME

Guidely
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▪ Q29: What is the new category of FPIs proposed by SEBI for govt bond investors?
▪ A: IGB-FPIs (Indian Government Bond FPIs)

▪ Q30: What is the minimum lock-in period under the VRR for FPIs?
▪ A: 3 years

▪ Q31: What does FAR allow foreign investors to do?

▪ A: Invest in select govt securities without limits
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RBI Circulars & RBI in News

➢ PayU Receives Final Reserve Bank of India Approval to Function as Online

Payment Aggregator
➢ PayU को ऑनलाइन भग ु तान एग्रीगेटर के रूप में कार्य करने के ललए भारतीर् ररजर्य बैंक की अंततम
मंजरू ी प्राप्त हुई

▪ PayU, backed by Prosus, has received final approval from the Reserve Bank of
India (RBI) to operate as an online payment aggregator.
▪ PayU had previously received an in-principle approval from the RBI in April 2024,
enabling it to begin onboarding merchants onto its platform.
▪ The fintech firm joins a list of over 50 online payment aggregators, including
Cashfree Payments, Razorpay, CCAvenue, and BillDesk.
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RBI Circulars & RBI in News

➢ PayU Receives Final Reserve Bank of India Approval to Function as Online

Payment Aggregator
➢ PayU को ऑनलाइन भग ु तान एग्रीगेटर के रूप में कार्य करने के ललए भारतीर् ररजर्य बैंक की अंततम
मंजरू ी प्राप्त हुई

▪ The Payment and Settlement Systems Act, 2007 regulates this approval, allowing
PayU to operate within India's payments ecosystem.
▪ PayU's approval comes after it was asked by the RBI to reapply for a payment
aggregator licence in January 2023 due to concerns over its corporate structure.
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RBI Circulars & RBI in News

➢ PayU Receives Final Reserve Bank of India Approval to Function as Online

Payment Aggregator
➢ PayU को ऑनलाइन भग ु तान एग्रीगेटर के रूप में कार्य करने के ललए भारतीर् ररजर्य बैंक की अंततम
मंजरू ी प्राप्त हुई

▪ In August 2023, PayU sold part of its financial technology business to Rapyd for
$610 million, excluding operations in India, Turkey, and Southeast Asia.
▪ In 2025, the RBI has granted final approval to nine companies to operate as online
payment aggregators.
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RBI Circulars & RBI in News

➢ RBI moots 15% cap on banks, NBFCs' investments in AIFs

➢ आरबीआई ने एआईएफ में बैंकों, एनबीएफसी के तनर्ेश पर 15% की सीमा लगाने पर वर्चाार िकर्ा

▪ India's banking regulator proposed capping the exposure of regulated entities,

such as banks and non-bank lenders, into schemes of Alternative Investment
Funds at 15% of the total combined investment by all lenders.
▪ Also, the proposals allow REs to invest up to 5% of the corpus of an AIF without
any curbs, while 10% of the scheme's corpus will act as an upper limit.
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RBI Circulars & RBI in News

➢ RBI moots 15% cap on banks, NBFCs' investments in AIFs

➢ आरबीआई ने एआईएफ में बैंकों, एनबीएफसी के तनर्ेश पर 15% की सीमा लगाने पर वर्चाार िकर्ा

▪ The proposed norms aim to balance regulatory concerns with capital formation
needs and follow earlier steps taken in March 2024 to ease provisioning
requirements for REs investing in AIFs.
▪ The latest draft guidelines allow REs to invest up to 5% of the corpus of an AIF
scheme without restriction.
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RBI Circulars & RBI in News

➢ RBI proposes new norms for RE investments in AIFs, seeks public feedback
➢ आरबीआई ने एआईएफ में आरई तनर्ेश के ललए नए मानदं डों का प्रस्तार् रखा, जनता से प्रततििर्ा
मांगी

▪ The Reserve Bank of India (RBI) released revised draft guidelines for investments
by regulated entities (REs) in Alternative Investment Funds (AIFs), aimed at
tightening oversight and preventing potential misuse of the investment route.
▪ “On a review, it is observed that the regulatory measures undertaken by the
Reserve Bank have brought financial discipline among the REs regarding their
investment in AIFs,” the RBI said.
▪ RBI also acknowledged that the Sebi has issued its own guidelines:
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RBI Circulars & RBI in News

➢ RBI proposes new norms for RE investments in AIFs, seeks public feedback
➢ आरबीआई ने एआईएफ में आरई तनर्ेश के ललए नए मानदं डों का प्रस्तार् रखा, जनता से प्रततििर्ा
मांगी

▪ As part of the revised framework, the RBI has proposed a cap of 10 per cent on
the contribution of a single RE to any AIF scheme, while all REs collectively cannot
invest more than 15 percent in a single scheme.
▪ Investments by an RE up to five percent of a scheme’s corpus will not face any
additional restrictions.
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RBI Circulars & RBI in News

➢ RBI proposes new norms for RE investments in AIFs, seeks public feedback
➢ आरबीआई ने एआईएफ में आरई तनर्ेश के ललए नए मानदं डों का प्रस्तार् रखा, जनता से प्रततििर्ा
मांगी

▪ However, if an RE’s investment exceeds five percent and the AIF has downstream
debt exposure to a borrower linked to the RE—excluding equity shares,
compulsorily convertible preference shares, and compulsorily convertible
debentures—the RE will have to make a 100 per cent provision for its
proportionate exposure.
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RBI Circulars & RBI in News

➢ RBI proposes new norms for RE investments in AIFs, seeks public feedback
➢ आरबीआई ने एआईएफ में आरई तनर्ेश के ललए नए मानदं डों का प्रस्तार् रखा, जनता से प्रततििर्ा
मांगी

▪ The RBI may exempt certain AIFs from these rules, in consultation with the
government, if they are set up for strategic purposes.
▪ The revised guidelines will apply prospectively, while existing investments and
commitments will continue under current regulations.
▪ The RBI has invited public and stakeholder feedback on the draft Directions until
8 June 2025. Comments can be submitted through the ‘Connect 2 Regulate’
section on the RBI’s website.
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RBI Circulars & RBI in News

➢ RBI to Issue New Rs 20 Banknotes with Governor Sanjay Malhotra’s Signature

➢ RBI गर्नयर संजर् मल्होत्रा ​के हस्ताक्षर के साथ 20 रुपर्े के नए बैंक नोट जारी करे गा

▪ The Reserve Bank of India (RBI) has announced that it will soon release new Rs 20
denomination banknotes bearing the signature of the newly appointed RBI
Governor, Sanjay Malhotra.
▪ These banknotes will be part of the Mahatma Gandhi (New) Series and will retain
the same design, features, and motifs as the notes currently in circulation.
▪ The update is part of a routine currency issuance process that follows the
appointment of a new central bank chief.
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RBI Circulars & RBI in News

➢ RBI to Issue New Rs 20 Banknotes with Governor Sanjay Malhotra’s Signature

➢ RBI गर्नयर संजर् मल्होत्रा ​के हस्ताक्षर के साथ 20 रुपर्े के नए बैंक नोट जारी करे गा

▪ The Mahatma Gandhi (New) Series was introduced in 2016 with enhanced
security features and a refreshed design.
▪ The design remains unchanged from the existing ₹20 notes, except for the
signature.
▪ Dimensions: 63 mm x 129 mm
▪ Base Colour: Greenish Yellow
▪ Reverse Illustration: Ellora Caves, symbolizing India’s cultural heritage.
▪ Legal Tender Status: All previously issued ₹20 notes will remain legal tender.
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RBI Circulars & RBI in News

➢ RBI to Issue New Rs 20 Banknotes with Governor Sanjay Malhotra’s Signature

➢ RBI गर्नयर संजर् मल्होत्रा ​के हस्ताक्षर के साथ 20 रुपर्े के नए बैंक नोट जारी करे गा

▪ Currency Printing:Notes are printed at four currency presses:

▪ 2 by SPMCIL (Govt. of India): Nasik (West), Dewas (Central)
▪ 2 by BRBNMPL (RBI subsidiary): Mysuru (South), Salboni (East)
▪ Coin Minting: Coins are minted at four mints by SPMCIL: Mumbai, Hyderabad,
Kolkata, and NOIDA.
▪ Coins are issued through RBI as per Section 38 of the RBI Act.
▪ According to Section 22 of the Reserve Bank of India (RBI) Act, 1934, the RBI has
the sole right to issue currency notes in India.
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Q: Which company, backed by Prosus, has received final RBI approval to operate as
an online payment aggregator?
A: PayU

Q: Who is the parent company backing PayU, which received RBI approval as a
payment aggregator?
A: Prosus

Q: What is the maximum contribution allowed by a single Regulated Entity (RE) to

an AIF scheme, as per RBI’s revised draft guidelines?
A: 10 percent
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Q: According to RBI’s revised guidelines, what is the maximum combined investment
all Regulated Entities can make in a single AIF scheme?
A: 15 percent

Q: Up to what percentage of investment in an AIF scheme by a Regulated Entity will

not attract additional restrictions, as per RBI’s draft?
A: 5 percent

Q: What is the proposed new dimension of the ₹20 banknote to be issued by RBI?
A: 63 mm x 129 mm
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Q: What is the base colour of the new ₹20 note to be issued with the signature of RBI
Governor Sanjay Malhotra?
A: Greenish Yellow

Q: Which heritage site is depicted on the reverse of the new ₹20 note as announced
by RBI?
A: Ellora Caves

Q: Will the old ₹20 banknotes remain legal tender after the release of the new
design?
A: Yes
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Question. According to the RBI (Digital Lending) Directions 2025, regulated entities
must report their Digital Lending Apps (DLAs) on the Centralised Information
Management System (CIMS) portal starting from which date?
a) March 1, 2025
b) May 13, 2025
c) June 1, 2025
d) June 11, 2025
e) July 15, 2025
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Question. According to the RBI (Digital Lending) Directions 2025, regulated entities
must report their Digital Lending Apps (DLAs) on the Centralised Information
Management System (CIMS) portal starting from which date?
a) March 1, 2025
b) May 13, 2025
c) June 1, 2025
d) June 11, 2025
e) July 15, 2025
▪ Regulated entities will now be required to report details of their digital lending
apps through the centralised information management system portal of the
Reserve Bank of India (RBI), the regulator said in a circular.
▪ According to the circular, the portal will be operational for reporting from May 13,
and entities will have time till June 15 to upload their initial data.
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RBI Circulars & RBI in News

➢ RBI mandates reporting of digital lending apps via CIMS portal from May 13
➢ RBI ने 13 मई से CIMS पोटय ल के माध्र्म से डडजजटल ऋण दे ने र्ाले ऐप्स की ररपोर्टिं ग अतनर्ार्य
कर दी है

▪ The directions include measures aimed at increasing transparency in digital

lending practices, particularly in how loan products are aggregated and presented
to potential borrowers.
▪ “The instructions require REs to furnish details of their DLAs through the CIMS
portal of the RBI,” the regulator said in the Reserve Bank of India (Digital Lending)
Directions, 2025.
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Question. Which of the following statements about the RBI (Digital Lending)
Directions, 2025 are correct?
1. All regulated entities must report details of their Digital Lending Apps (DLAs) on
the CIMS portal by June 15, 2025.
2. The CIMS portal was launched to increase transparency and reduce risks
associated with unregulated digital lending apps.
3. RBI will vet all entries before publishing the public directory of approved DLAs on
March 1, 2026.
a) Only 1 and 2 are correct
b) Only 2 and 3 are correct
c) Only 1 and 3 are correct
d) All are correct
e) Only 2
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Question. Which of the following statements about the RBI (Digital Lending)
Directions, 2025 are correct?
1. All regulated entities must report details of their Digital Lending Apps (DLAs) on
the CIMS portal by June 15, 2025.
2. The CIMS portal was launched to increase transparency and reduce risks
associated with unregulated digital lending apps.
3. RBI will vet all entries before publishing the public directory of approved DLAs on
March 1, 2026.
a) Only 1 and 2 are correct
b) Only 2 and 3 are correct
c) Only 1 and 3 are correct
d) All are correct
e) Only 2
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RBI Circulars & RBI in News

➢ RBI mandates reporting of digital lending apps via CIMS portal from May 13
➢ RBI ने 13 मई से CIMS पोटय ल के माध्र्म से डडजजटल ऋण दे ने र्ाले ऐप्स की ररपोर्टिं ग अतनर्ार्य
कर दी है

▪ REs have an immediate deadline to meet — reporting on the CIMS portal by June
15. LSPs have more time — until November 1 — to comply with the requirements
relating to presentation of multiple REs to borrowers.
▪ They have a lot of work to do to ensure full compliance.”
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Question. Consider the correct statements regarding the Reserve Bank of India’s
newly introduced “Framework for Formulation of Regulations”:
1. The RBI will publish the draft regulation on its website along with a statement of
particulars.
2. The draft regulation will remain open for public comments for a minimum
period of 15 days.
3. The RBI will publish a general statement of response along with the final
regulation after considering public feedback.
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
D. All 1, 2, and 3
E. Only 1
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Question. Consider the correct statements regarding the Reserve Bank of India’s
newly introduced “Framework for Formulation of Regulations”:
1. The RBI will publish the draft regulation on its website along with a statement of
particulars.
2. The draft regulation will remain open for public comments for a minimum
period of 15 days.
3. The RBI will publish a general statement of response along with the final
regulation after considering public feedback.
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
D. All 1, 2, and 3
E. Only 1
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RBI Circulars & RBI in News

➢ RBI Cracks Down on Digital Lending Apps: Mandatory Reporting from May 13
➢ RBI ने डडजजटल ऋण दे ने र्ाले ऐप्स पर नकेल कसी: 13 मई से अतनर्ार्य ररपोर्टिं ग

▪ The Reserve Bank of India (RBI) has issued a significant directive aimed at
enhancing transparency and borrower protection in the digital lending
ecosystem.
▪ As per the new guidelines under the RBI (Digital Lending) Directions, 2025, all
regulated entities (REs) must report the details of their Digital Lending Apps
(DLAs) on the RBI’s new Centralised Information Management System (CIMS)
portal starting May 13, 2025.
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RBI Circulars & RBI in News

➢ RBI Cracks Down on Digital Lending Apps: Mandatory Reporting from May 13
➢ RBI ने डडजजटल ऋण दे ने र्ाले ऐप्स पर नकेल कसी: 13 मई से अतनर्ार्य ररपोर्टिं ग

▪ This is seen as a timely intervention to curb rising complaints about unauthorized

digital lenders, data privacy violations, and predatory lending practices.
▪ All RBI-regulated entities must submit the list of their Digital Lending Apps (DLAs)
to the CIMS portal.
▪ Portal goes live: May 13, 2025
▪ Deadline for first reporting: June 15, 2025
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RBI Circulars & RBI in News

➢ Reserve Bank of India Unveils Framework to Streamline Regulatory Drafting and

Stakeholder Consultation Process
➢ भारतीर् ररज़र्य बैंक ने वर्तनर्ामक प्रारूपण और र्हतधारक परामशय प्रििर्ा को सव्ु र्र्जस्थत करने के
ललए रूपरे खा का अनार्रण िकर्ा

▪ The Reserve Bank of India (RBI) has introduced the “Framework for Formulation
of Regulations” to standardize the regulatory formulation and public feedback
process.
▪ Draft Regulation Publication: RBI will publish the draft regulation on its website
along with a statement of particulars.
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RBI Circulars & RBI in News

➢ Reserve Bank of India Unveils Framework to Streamline Regulatory Drafting and

Stakeholder Consultation Process
➢ भारतीर् ररज़र्य बैंक ने वर्तनर्ामक प्रारूपण और र्हतधारक परामशय प्रििर्ा को सव्ु र्र्जस्थत करने के
ललए रूपरे खा का अनार्रण िकर्ा

▪ The draft will be open for public comments for at least 21 days.
▪ Public Feedback Process: After receiving public comments, RBI will consider the
feedback and publish a general statement of response along with the final
regulation on its website.
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Question. Which of the following is not one of the surveys launched by the Reserve
Bank of India (RBI)?
a) Inflation Expectations Survey of Households (IESH)
b) Consumer Confidence Survey
c) Rural Consumer Confidence Survey
d) Survey of Financial Inclusion
e) None of the above
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Question. Which of the following is not one of the surveys launched by the Reserve
Bank of India (RBI)?
a) Inflation Expectations Survey of Households (IESH)
b) Consumer Confidence Survey
c) Rural Consumer Confidence Survey
d) Survey of Financial Inclusion
e) None of the above
▪ Reserve Bank launched three key surveys, including inflation expectations, to
gather useful inputs for monetary policy decisions.
▪ The RBI normally holds six bi-monthly monetary policy reviews in a financial year.
▪ The last meeting was held earlier this month, and the next meeting of the
Monetary Policy Committee is scheduled for June 4-6.
▪ The May round of the Inflation Expectations Survey of Households (IESH) aims at
capturing subjective assessments on price movements and inflation, based on
their individual consumption baskets, across 19 cities.
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RBI Circulars & RBI in News

➢ RBI launches 3 surveys for inflation, consumer confidence, policy input

➢ RBI ने मुद्रास्फीतत, उपभोक्ता वर्श्र्ास, नीतत इनपुट के ललए 3 सर्ेक्षण लॉन्चा िकए

▪ The Reserve Bank launched three key surveys, including inflation expectations, to
gather useful inputs for monetary policy decisions.
▪ The RBI normally holds six bi-monthly monetary policy reviews in a financial year.
▪ The last meeting was held earlier this month, and the next meeting of the
Monetary Policy Committee is scheduled for June 4-6.
▪ The May round of the Inflation Expectations Survey of Households (IESH) aims at
capturing subjective assessments on price movements and inflation, based on
their individual consumption baskets, across 19 cities.
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RBI Circulars & RBI in News

➢ RBI launches 3 surveys for inflation, consumer confidence, policy input

➢ RBI ने मुद्रास्फीतत, उपभोक्ता वर्श्र्ास, नीतत इनपुट के ललए 3 सर्ेक्षण लॉन्चा िकए

▪ Inflation Expectations Survey of Households

▪ The Inflation Expectations Survey of Households (IESH) is designed to capture
subjective views on price movements. It surveys households in 19 cities.
▪ Participants provide insights based on their individual consumption patterns. The
survey helps the RBI understand inflation expectations which are crucial for
policy formulation.
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RBI Circulars & RBI in News

➢ RBI launches 3 surveys for inflation, consumer confidence, policy input

➢ RBI ने मुद्रास्फीतत, उपभोक्ता वर्श्र्ास, नीतत इनपुट के ललए 3 सर्ेक्षण लॉन्चा िकए

▪ Urban Consumer Confidence Survey

▪ The Urban Consumer Confidence Survey (UCCS) aims to gauge the economic
sentiment of urban households.
▪ It collects qualitative data regarding perceptions on the overall economic
situation.
▪ The survey also assesses views on employment opportunities, price levels, and
household income. This information is vital for understanding consumer
behaviour in urban settings.
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RBI Circulars & RBI in News

➢ RBI launches 3 surveys for inflation, consumer confidence, policy input

➢ RBI ने मुद्रास्फीतत, उपभोक्ता वर्श्र्ास, नीतत इनपुट के ललए 3 सर्ेक्षण लॉन्चा िकए

▪ Rural Consumer Confidence Survey

▪ The Rural Consumer Confidence Survey (RCCS) targets households in rural and
semi-urban areas.
▪ It collects current perceptions and expectations regarding the economy,
employment, and prices.
▪ The survey spans across 31 states and Union Territories. This broad coverage
ensures that diverse rural perspectives are included in the RBI’s analysis.
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▪ Q1: From which date did RBI mandate reporting of Digital Lending Apps (DLAs) via
the CIMS portal?
▪ A: May 13, 2025

▪ Q2: What is the last date for regulated entities to submit DLA data on the CIMS
portal?
▪ A: June 15, 2025

▪ Q3: When will RBI publish a public directory of DLAs?

▪ A: July 1, 2025

▪ Q4: What is the full form of CIMS in RBI’s directive?

▪ A: Centralised Information Management System
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Question. RBI has approved the formation of a temporary leadership team at
IndusInd Bank after the resignation of its CEO, Sumant Kathpalia. Who are the two
executives included in this interim leadership team?
a) Soumitra Sen and Arvind Kumar
b) Soumitra Sen and Anil Rao
c) Ramesh Kumar and Anil Rao
d) Pradeep Sharma and Soumitra Sen
e) Pradeep Sharma and Anil Rao
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Question. RBI has approved the formation of a temporary leadership team at
IndusInd Bank after the resignation of its CEO, Sumant Kathpalia. Who are the two
executives included in this interim leadership team?
a) Soumitra Sen and Arvind Kumar
b) Soumitra Sen and Anil Rao
c) Ramesh Kumar and Anil Rao
d) Pradeep Sharma and Soumitra Sen
e) Pradeep Sharma and Anil Rao
▪ Reserve Bank of India (RBI) has approved the formation of a temporary leadership
team at IndusInd Bank, following the abrupt resignation of its Managing Director
and Chief Executive Officer, Sumant Kathpalia.
▪ The interim executive team will include Soumitra Sen, head of consumer banking,
and Anil Rao, chief administrative officer.
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Question. Consider the Correct statement about the recent news of RBI Regarding
Gold Reserves.
1. RBI’s Gold Reserves Soar with 57.5 Tonne Purchase in FY25
2. Total gold reserves as of March 2025: 879.6 tonnes
3. A sharp 45% annual rise in gold rates, influenced by global market volatility,
tariff wars, and US dollar weakness
a) Only 1
b) Only 3
c) 1 & 3
d) 2 & 3
e) 1 & 2
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Question. Consider the Correct statement about the recent news of RBI Regarding
Gold Reserves.
1. RBI’s Gold Reserves Soar with 57.5 Tonne Purchase in FY25
2. Total gold reserves as of March 2025: 879.6 tonnes
3. A sharp 45% annual rise in gold rates, influenced by global market volatility,
tariff wars, and US dollar weakness
a) Only 1
b) Only 3
c) 1 & 3
d) 2 & 3
e) 1 & 2
❑ A sharp 30% annual rise in gold rates, influenced by global market volatility,
tariff wars, and US dollar weakness.
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RBI Circulars & RBI in News

➢ RBI’s Gold Reserves Soar with 57.5 Tonne Purchase in FY25

➢ वर्त्त र्र्य 2015 में 57.5 टन खरीद के साथ आरबीआई का स्र्णय भंडार बढा

▪ In a significant move reflecting global financial anxieties and a shift in reserve

strategies, the Reserve Bank of India (RBI) added 57.5 tonnes of gold to its
reserves in FY25, the second-highest annual addition since it began accumulating
gold in 2017.
▪ This comes amid a dramatic surge in gold prices, driven by global uncertainties,
geopolitical risks, and weakening of the US dollar.
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RBI Circulars & RBI in News

➢ RBI’s Gold Reserves Soar with 57.5 Tonne Purchase in FY25

➢ वर्त्त र्र्य 2015 में 57.5 टन खरीद के साथ आरबीआई का स्र्णय भंडार बढा

▪ The RBI’s gold purchase has gained attention due to Rising gold prices crossing ₹1
lakh per 10 grams in April 2025.
▪ A sharp 30% annual rise in gold rates, influenced by global market volatility, tariff
wars, and US dollar weakness.
▪ RBI purchased 57.5 tonnes of gold in FY25, second only to a previous high since
2017. Total gold reserves as of March 2025: 879.6 tonnes, up from 822.1 tonnes a
year earlier.
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RBI Circulars & RBI in News

➢ RBI’s Gold Reserves Soar with 57.5 Tonne Purchase in FY25

➢ वर्त्त र्र्य 2015 में 57.5 टन खरीद के साथ आरबीआई का स्र्णय भंडार बढा

▪ Global trend: Central banks globally are stockpiling gold due to currency risk and
sovereign debt concerns.
▪ Gold touched $3,230 per ounce globally in 2024.
▪ Gold’s price history shows resilience: rose 21% during 2008 crisis.
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Question. RBI imposed a penalty of ₹97.80 lakh on ICICI Bank for non-compliance
with which of the following frameworks or guidelines?
I. Cyber Security Framework in Banks
II. KYC Norms
III. Credit and Debit Card Issuance and Conduct
A) Only I
B) Only II
C) I and II
D) I, II and III
E) Only III
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Question. RBI imposed a penalty of ₹97.80 lakh on ICICI Bank for non-compliance
with which of the following frameworks or guidelines?
I. Cyber Security Framework in Banks
II. KYC Norms
III. Credit and Debit Card Issuance and Conduct
A) Only I
B) Only II
C) I and II
D) I, II and III
E) Only III
▪ The Reserve Bank said it has imposed penalties on four banks, including ICICI
Bank and Bank of Baroda, for deficiencies in regulatory compliances.
▪ The penalty of Rs 97.80 lakh has been imposed on ICICI Bank for non-compliance
with certain directions issued by the RBI on Cyber Security Framework in Banks,
KYC, and Credit Card and Debit Card -- Issuance and Conduct.
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RBI Circulars & RBI in News

➢ RBI imposes penalties on ICICI Bank, Bank of Baroda, 2 other lenders

➢ RBI ने ICICI बैंक, बैंक ऑफ बड़ौदा, 2 अन्र् ऋणदाताओं पर जुमायना लगार्ा

▪ The Reserve Bank said it has imposed penalties on four banks, including ICICI
Bank and Bank of Baroda, for deficiencies in regulatory compliances.
▪ The penalty of Rs 97.80 lakh has been imposed on ICICI Bank for non-compliance
with certain directions issued by the RBI on Cyber Security Framework in Banks,
KYC, and Credit Card and Debit Card -- Issuance and Conduct.
▪ In another statement, the RBI said it has imposed a penalty of Rs 61.40 lakh on
Bank of Baroda for non-compliance with certain directions on 'Financial Services
provided by Banks' and 'Customer Service in Banks'.
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RBI Circulars & RBI in News

➢ RBI imposes penalties on ICICI Bank, Bank of Baroda, 2 other lenders

➢ RBI ने ICICI बैंक, बैंक ऑफ बड़ौदा, 2 अन्र् ऋणदाताओं पर जुमायना लगार्ा

▪ A penalty of Rs 31.80 lakh was imposed on Bank of Maharashtra for non-

compliance with certain directions on KYC.

▪ The Axis bank, too, has been fined Rs 29.60 lakh over non-compliance with certain
directions on "unauthorised operation of internal/office accounts".
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Question. What was the monetary penalty imposed by the Reserve Bank of India
(RBI) on the State Bank of India (SBI) in May 2025 for non-compliance with regulatory
norms?
a) ₹97.8 lakh
b) ₹2.67 crore
c) ₹1 crore
d) ₹1.72 crore
e) ₹61.4 lakh
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Question. What was the monetary penalty imposed by the Reserve Bank of India
(RBI) on the State Bank of India (SBI) in May 2025 for non-compliance with regulatory
norms?
a) ₹97.8 lakh
b) ₹2.67 crore
c) ₹1 crore
d) ₹1.72 crore
e) ₹61.4 lakh
▪ RBI has imposed penalties on State Bank of India and Jana Small Finance Bank for
certain deficiencies in compliance of norms.
▪ The Reserve Bank of India (RBI) said a penalty of Rs 1,72,80,000 has been imposed
on SBI for non-compliance with certain directions on "Loans and Advances-
Statutory and Other Restrictions", "Customer Protection - Limiting Liability of
Customers.
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RBI Circulars & RBI in News

➢ RBI imposes penalties on SBI, Jana Small Finance Bank

➢ आरबीआई ने एसबीआई, जना स्मॉल फाइनेंस बैंक पर जुमायना लगार्ा

▪ The RBI said a penalty of Rs 1 crore has been imposed on Jana Small Finance Bank
Ltd for contravention of certain provision of of the Banking Regulation Act, 1949.
▪ In both cases, the RBI said the penalties are based on deficiencies in compliance
and not intended to pronounce upon the validity of any transaction or agreement
entered into by the banks with their customers.
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Question. According to the recent report (May 2025), how much gold did the Reserve
Bank of India (RBI) purchase in FY25?
(a) 35.5 tonnes
(b) 66.5 tonnes
(c) 37.5 tonnes
(d) 57.5 tonnes
(e) 45.5 tonnes
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Question. According to the recent report (May 2025), how much gold did the Reserve
Bank of India (RBI) purchase in FY25?
(a) 35.5 tonnes
(b) 66.5 tonnes
(c) 37.5 tonnes
(d) 57.5 tonnes
(e) 45.5 tonnes
▪ The Reserve Bank of India will purchase government bonds worth 1.25 trillion
rupees ($14.71 billion) via open market operations over four tranches in May, its
latest measure to infuse liquidity into the banking system.
▪ The first tranche of Rs 50,000 crore is scheduled for May 6, followed by three
tranches of Rs 25,000 crore each on May 9, 15 and 19, respectively.
▪ The announcement is the RBI's latest liquidity infusion measure, with 1.2 trillion
rupees added in April via debt purchases and FX swaps.
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RBI Circulars & RBI in News

➢ RBI to infuse Rs 1.25 trillion worth of liquidity via bond purchases

➢ RBI बांड खरीद के माध्र्म से 1.25 र्िललर्न रुपर्े की तरलता डालेगा

▪ It is scheduled to buy bonds worth Rs 20,000 crore, its last tranche for the current
month. The central bank had also reduced the repo rate for a second consecutive
time and changed its stance to "accommodative" earlier this month.
▪ The RBI is expected to keep sufficient surplus in the banking system to ensure
policy transmission, and is looking at a level of around 1% of deposits.
▪ The surplus works out to be in the range of Rs 2.20 trillion to Rs 2.50 trillion.
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Question. Which of the following statements is/are incorrect regarding FIMMDA and
its recognition by RBI?
1. FIMMDA has been recognised by RBI as a Self-Regulatory Organisation (SRO) under
the framework introduced in August 2024.
2. FIMMDA stands for Fixed Income Money Market and Derivatives Association of
India.
3. FIMMDA administers benchmarks like the FIMMDA–NSE Overnight MIBOR and aids
in government securities valuation.
a) Both 1 and 2
b) Only 2
c) Both 2 and 3
d) All are incorrect
e) None of the above
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Question. Which of the following statements is/are incorrect regarding FIMMDA and
its recognition by RBI?
1. FIMMDA has been recognised by RBI as a Self-Regulatory Organisation (SRO) under
the framework introduced in August 2024.
2. FIMMDA stands for Fixed Income Money Market and Derivatives Association of
India.
3. FIMMDA administers benchmarks like the FIMMDA–NSE Overnight MIBOR and aids
in government securities valuation.
a) Both 1 and 2
b) Only 2
c) Both 2 and 3
d) All are incorrect
e) None of the above
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RBI Circulars & RBI in News

➢ Reserve Bank of India Designates Fixed Income Money Market and Derivatives
Association of India (FIMMD)as Self-Regulatory Organisation (SRO) for Financial
Markets Under New Guidelines
➢ भारतीर् ररज़र्य बैंक ने नए र्दशातनदे शों के तहत वर्त्तीर् बाजारों के ललए िफक्स्ड इनकम मनी माकेट
एंड डेररर्ेर्टव्स एसोलसएशन ऑफ इंडडर्ा (FIMMD) को स्र्-तनर्ामक संगठन (SRO) के रूप में
नालमत िकर्ा है

▪ The Reserve Bank of India (RBI) has officially recognised the Fixed Income Money
Market and Derivatives Association of India (FIMMDA) as a Self-Regulatory
Organisation (SRO) for the financial market.
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RBI Circulars & RBI in News

➢ Reserve Bank of India Designates Fixed Income Money Market and Derivatives
Association of India (FIMMD)as Self-Regulatory Organisation (SRO) for Financial
Markets Under New Guidelines
➢ भारतीर् ररज़र्य बैंक ने नए र्दशातनदे शों के तहत वर्त्तीर् बाजारों के ललए िफक्स्ड इनकम मनी माकेट
एंड डेररर्ेर्टव्स एसोलसएशन ऑफ इंडडर्ा (FIMMD) को स्र्-तनर्ामक संगठन (SRO) के रूप में
नालमत िकर्ा है

▪ In August 2024, RBI introduced a comprehensive framework for recognising SROs

in financial markets. It outlines:
▪ Objectives and responsibilities, Eligibility criteria, Membership and governance
standards, Application and recognition process
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RBI Circulars & RBI in News

➢ Reserve Bank of India Designates Fixed Income Money Market and Derivatives
Association of India (FIMMD)as Self-Regulatory Organisation (SRO) for Financial
Markets Under New Guidelines
➢ भारतीर् ररज़र्य बैंक ने नए र्दशातनदे शों के तहत वर्त्तीर् बाजारों के ललए िफक्स्ड इनकम मनी माकेट
एंड डेररर्ेर्टव्स एसोलसएशन ऑफ इंडडर्ा (FIMMD) को स्र्-तनर्ामक संगठन (SRO) के रूप में
नालमत िकर्ा है

▪ FIMMDA’s Role : FIMMDA is now officially the first entity to be recognised under
the new SRO framework.
▪ Will operate within the RBI-defined guidelines for SROs.
▪ Aims to ensure standardised market practices and enhanced transparency.
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RBI Circulars & RBI in News

➢ About FIMMDA:

❑ Established in 1998
❑ Represents scheduled commercial banks, primary dealers, public financial
institutions, insurance companies, etc.
❑ Functions as a calculation agent for:
❑ Daily valuation of government securities and corporate bonds.
❑ Administers key benchmarks, like the FIMMDA–NSE Overnight MIBOR.
❑ Recognised by RBI as the benchmark administrator for all Indian rupee interest
rates.
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Question. Which of the following is a proposed new category of Foreign Portfolio
Investors (FPIs) by SEBI for those investing only in Indian government bonds?
a) G-Sec FPIs
b) Bond-Focused FPIs
c) IGB-FPIs
d) Sovereign Debt FPIs
e) FAR-VRR FPIs
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Question. Which of the following is a proposed new category of Foreign Portfolio
Investors (FPIs) by SEBI for those investing only in Indian government bonds?
a) G-Sec FPIs
b) Bond-Focused FPIs
c) IGB-FPIs
d) Sovereign Debt FPIs
e) FAR-VRR FPIs
▪ The Securities and Exchange Board of India (Sebi) proposed regulatory relaxations
for foreign portfolio investors (FPIs) investing solely in Indian government bonds
under the Voluntary Retention Route (VRR) and Fully Accessible Route (FAR).
▪ Sebi has suggested easing registration and other compliance requirements for a
new FPI category — those investing exclusively in government bonds — termed
IGB-FPIs. (Indian Government Bond Foreign Portfolio Investors)
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➢ Sebi proposes relief for FPIs investing in govt bonds under VRR, FAR

▪ Voluntary Retention Route (VRR

▪ The VRR is a special way for foreign investors (like foreign banks, mutual funds,
etc.) to invest in Indian debt markets (government and corporate bonds), with
fewer restrictions, if they agree to keep their money in India for a certain period.
▪ Foreign investors must voluntarily commit to keep their money invested for at
least 3 years.
▪ In return, they get relaxed rules (like no cap on interest rate or quantity).
▪ Helps bring stable, long-term foreign investment into India.
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➢ Sebi proposes relief for FPIs investing in govt bonds under VRR, FAR

▪ Fully Accessible Route (FAR)

▪ The FAR is a route through which any foreign investor can buy certain
Government of India bonds without any investment limits

▪ No limit on how much foreign investors can buy

▪ Applies to selected government securities (RBI provides a list).
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Question. Which of the following statements about SEBI’s new regulatory proposals
for IGB-FPIs is/are correct?
1. IGB-FPIs will be exempt from security-wise or concentration limits since their
investments are made only in government bonds.
2. Existing FPIs transitioning to IGB-FPI category will not need to close their demat
and trading accounts related to other investments.
3. SEBI has proposed aligning KYC review periodicity for IGB-FPIs with RBI’s risk-based
categorization — once every 2, 8, or 10 years.
a) Only 1 and 2 are correct
b) Only 1 and 3 are correct
c) Only 2 and 3 are correct
d) All are correct
e) Only 1 is correct
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Question. Which of the following statements about SEBI’s new regulatory proposals
for IGB-FPIs is/are correct?
1. IGB-FPIs will be exempt from security-wise or concentration limits since their
investments are made only in government bonds.
2. Existing FPIs transitioning to IGB-FPI category will not need to close their demat
and trading accounts related to other investments.
3. SEBI has proposed aligning KYC review periodicity for IGB-FPIs with RBI’s risk-based
categorization — once every 2, 8, or 10 years.
a) Only 1 and 2 are correct
b) Only 1 and 3 are correct
c) Only 2 and 3 are correct
d) All are correct
e) Only 1 is correct
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SEBI in News

➢ Sebi proposes relief for FPIs investing in govt bonds under VRR, FAR
➢ सेबी ने र्ीआरआर, एफएआर के तहत सरकारी बॉन्ड में तनर्ेश करने र्ाले एफपीआई के ललए राहत
का प्रस्तार् रखा है

▪ Identification as an IGB-FPI will take place at the time of registration. Existing

FPIs will also have the opportunity to transition into this category to avail the
benefits.
▪ However, existing FPIs opting for this transition must declare and divest all
holdings except those permitted under the IGB-FPI category.
▪ They will also be required to close demat and trading accounts associated with
other investments.
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SEBI in News

➢ Sebi proposes relief for FPIs investing in govt bonds under VRR, FAR
➢ सेबी ने र्ीआरआर, एफएआर के तहत सरकारी बॉन्ड में तनर्ेश करने र्ाले एफपीआई के ललए राहत
का प्रस्तार् रखा है

▪ These proposals come in the wake of Indian government bonds being included in
global indices such as the JP Morgan Global Emerging Market Bond Index,
Bloomberg EM Local Currency Government Index, and FTSE Russell Emerging
Markets Government Bond Index — with the latter effective from September
2025.
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SEBI in News

➢ Sebi proposes relief for FPIs investing in govt bonds under VRR, FAR
➢ सेबी ने र्ीआरआर, एफएआर के तहत सरकारी बॉन्ड में तनर्ेश करने र्ाले एफपीआई के ललए राहत
का प्रस्तार् रखा है

▪ Sebi has proposed allowing non-resident Indians (NRIs), overseas citizens of India
(OCIs), and resident Indian individuals (RIs) to invest in an IGB-FPI without any
restriction. Currently, NRI/OCI/RI contributions are limited to 25 per cent per
investor and 50 per cent in aggregate for any FPI.
▪ Under the new proposal, NRIs and OCIs will be allowed to exercise control over
IGB-FPIs.
▪ However, certain existing restrictions on RIs will continue.
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SEBI in News

➢ Sebi proposes relief for FPIs investing in govt bonds under VRR, FAR
➢ सेबी ने र्ीआरआर, एफएआर के तहत सरकारी बॉन्ड में तनर्ेश करने र्ाले एफपीआई के ललए राहत
का प्रस्तार् रखा है

▪ As per Sebi data, the aggregate holding of FPIs in FAR-eligible government bonds
stood at around ₹3 trillion as of March 2025.
▪ Sebi has also proposed aligning the periodicity of know your customer (KYC)
reviews for such FPIs with those prescribed by the Reserve Bank of India (RBI).
▪ RBI guidelines require KYC updates once every 2, 8, or 10 years based on the
investor’s risk category. Currently, Sebi mandates KYC review annually or once
every three years, depending on the risk level.
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▪ Q29: What is the new category of FPIs proposed by SEBI for govt bond investors?
▪ A: IGB-FPIs (Indian Government Bond FPIs)

▪ Q30: What is the minimum lock-in period under the VRR for FPIs?
▪ A: 3 years

▪ Q31: What does FAR allow foreign investors to do?

▪ A: Invest in select govt securities without limits

▪ Q32: Which global indices are including Indian govt bonds in 2025?
▪ A: JP Morgan GBI-EM, Bloomberg EM Index, FTSE Russell EM Index
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Question. Recently, In May which of the following banks was not among the four
penalized by the Reserve Bank of India (RBI) for regulatory non-compliance?
a) ICICI Bank
b) Bank of Maharashtra
c) Bank of Baroda
d) IDBI Bank
e) HDFC Bank
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Question. Recently, In May which of the following banks was not among the four
penalized by the Reserve Bank of India (RBI) for regulatory non-compliance?
a) ICICI Bank
b) Bank of Maharashtra
c) Bank of Baroda
d) IDBI Bank
e) HDFC Bank
▪ Reserve Bank said it has imposed penalties on four banks, including ICICI Bank
and Bank of Baroda, for deficiencies in regulatory compliances.
▪ The penalty of Rs 97.80 lakh has been imposed on ICICI Bank for non-compliance
with certain directions issued by the RBI on Cyber Security Framework in Banks,
KYC, and Credit Card and Debit Card -- Issuance and Conduct.
▪ In another statement, the RBI said it has imposed a penalty of Rs 61.40 lakh on
Bank of Baroda for non-compliance with certain directions on 'Financial Services
provided by Banks' and 'Customer Service in Banks'.
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Question. Which of the following statements is incorrect regarding RBI’s gold
reserves in FY25?
a) RBI added 57.5 tonnes of gold, the second-highest annual addition since 2017.
b) Total gold reserves reached 879.6 tonnes by March 2025.
c) RBI started accumulating gold reserves only in 2020.
d) Gold prices crossed ₹1 lakh per 10 grams in April 2025.
e) Central banks worldwide are stockpiling gold due to global uncertainties.
 Join Telegram Group GA Genius by Aditya Sir
Question. Which of the following statements is incorrect regarding RBI’s gold
reserves in FY25?
a) RBI added 57.5 tonnes of gold, the second-highest annual addition since 2017.
b) Total gold reserves reached 879.6 tonnes by March 2025.
c) RBI started accumulating gold reserves only in 2020.
d) Gold prices crossed ₹1 lakh per 10 grams in April 2025.
e) Central banks worldwide are stockpiling gold due to global uncertainties.
▪ In a significant move reflecting global financial anxieties and a shift in reserve
strategies, the Reserve Bank of India (RBI) added 57.5 tonnes of gold to its reserves
in FY25, the second-highest annual addition since it began accumulating gold in
2017.
▪ This comes amid a dramatic surge in gold prices, driven by global uncertainties,
geopolitical risks, and weakening of the US dollar.
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Question. Which regulatory body granted final approval to PayU to operate as an
online payment aggregator?
a) SEBI
b) NITI Aayog
c) Ministry of Finance
d) Reserve Bank of India (RBI)
e) NPCI
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Question. Which regulatory body granted final approval to PayU to operate as an
online payment aggregator?
a) SEBI
b) NITI Aayog
c) Ministry of Finance
d) Reserve Bank of India (RBI)
e) NPCI
▪ PayU, backed by Prosus, has received final approval from the Reserve Bank of
India (RBI) to operate as an online payment aggregator.
▪ PayU had previously received an in-principle approval from the RBI in April 2024,
enabling it to begin onboarding merchants onto its platform.
▪ The fintech firm joins a list of over 50 online payment aggregators, including
Cashfree Payments, Razorpay, CCAvenue, and BillDesk.
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RBI Circulars & RBI in News

➢ PayU Receives Final Reserve Bank of India Approval to Function as Online

Payment Aggregator
➢ PayU को ऑनलाइन भग ु तान एग्रीगेटर के रूप में कार्य करने के ललए भारतीर् ररजर्य बैंक की अंततम
मंजरू ी प्राप्त हुई

▪ The Payment and Settlement Systems Act, 2007 regulates this approval, allowing
PayU to operate within India's payments ecosystem.
▪ PayU's approval comes after it was asked by the RBI to reapply for a payment
aggregator licence in January 2023 due to concerns over its corporate structure.
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Question. Consider the correct statements regarding the RBI’s proposed framework
for investment by Regulated Entities (REs) in Alternative Investment Funds (AIFs):
1. RBI proposes to cap exposure of regulated entities into AIF schemes at 15% of
the total combined investment by all lenders.
2. Regulated Entities (REs) are allowed to invest up to 5% of the AIF corpus without
any restrictions.
3. If an RE’s investment exceeds 15% and the AIF has downstream equity exposure
to a borrower linked to the RE, then the RE must make a 100% provision for its
exposure.
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
D. All 1, 2, and 3
E. Only 1
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Question. Consider the correct statements regarding the RBI’s proposed framework
for investment by Regulated Entities (REs) in Alternative Investment Funds (AIFs):
1. RBI proposes to cap exposure of regulated entities into AIF schemes at 15% of
the total combined investment by all lenders.
2. Regulated Entities (REs) are allowed to invest up to 5% of the AIF corpus without
any restrictions.
3. If an RE’s investment exceeds 15% and the AIF has downstream equity exposure
to a borrower linked to the RE, then the RE must make a 100% provision for its
exposure.
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
D. All 1, 2, and 3
E. Only 1
❑ However, if an RE’s investment exceeds five percent and the AIF has downstream
debt exposure to a borrower linked to the RE, the RE will have to make a 100 per
cent provision for its proportionate exposure.
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Question. What is the proposed total investment cap by all regulated entities (REs)
in any Alternative Investment Fund (AIF) scheme?
(a) 5% of the scheme's corpus
(b) 25% of the scheme's corpus
(c) 50% of the scheme's corpus
(d) 10% of the scheme's corpus
(e) 15% of the scheme's corpus
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Question. What is the proposed total investment cap by all regulated entities (REs)
in any Alternative Investment Fund (AIF) scheme?
(a) 5% of the scheme's corpus
(b) 25% of the scheme's corpus
(c) 50% of the scheme's corpus
(d) 10% of the scheme's corpus
(e) 15% of the scheme's corpus
▪ India's banking regulator proposed capping the exposure of regulated entities,
such as banks and non-bank lenders, into schemes of Alternative Investment
Funds at 15% of the total combined investment by all lenders.
▪ Also, the proposals allow REs to invest up to 5% of the corpus of an AIF without
any curbs, while 10% of the scheme's corpus will act as an upper limit.
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RBI Circulars & RBI in News

➢ RBI proposes new norms for RE investments in AIFs, seeks public feedback
➢ आरबीआई ने एआईएफ में आरई तनर्ेश के ललए नए मानदं डों का प्रस्तार् रखा, जनता से प्रततििर्ा
मांगी

▪ The Reserve Bank of India (RBI) released revised draft guidelines for investments
by regulated entities (REs) in Alternative Investment Funds (AIFs), aimed at
tightening oversight and preventing potential misuse of the investment route.
▪ “On a review, it is observed that the regulatory measures undertaken by the
Reserve Bank have brought financial discipline among the REs regarding their
investment in AIFs,” the RBI said.
▪ RBI also acknowledged that the Sebi has issued its own guidelines:
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RBI Circulars & RBI in News

➢ RBI proposes new norms for RE investments in AIFs, seeks public feedback
➢ आरबीआई ने एआईएफ में आरई तनर्ेश के ललए नए मानदं डों का प्रस्तार् रखा, जनता से प्रततििर्ा
मांगी

▪ As part of the revised framework, the RBI has proposed a cap of 10 per cent on
the contribution of a single RE to any AIF scheme, while all REs collectively cannot
invest more than 15 percent in a single scheme.
▪ Investments by an RE up to five percent of a scheme’s corpus will not face any
additional restrictions.
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RBI Circulars & RBI in News

➢ RBI proposes new norms for RE investments in AIFs, seeks public feedback
➢ आरबीआई ने एआईएफ में आरई तनर्ेश के ललए नए मानदं डों का प्रस्तार् रखा, जनता से प्रततििर्ा
मांगी

▪ However, if an RE’s investment exceeds five percent and the AIF has downstream
debt exposure to a borrower linked to the RE—excluding equity shares,
compulsorily convertible preference shares, and compulsorily convertible
debentures—the RE will have to make a 100 per cent provision for its
proportionate exposure.
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Q: What is the proposed new dimension of the ₹20 banknote to be issued by RBI?
A: 63 mm x 129 mm
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Q: What is the base colour of the new ₹20 note to be issued with the signature of RBI
Governor Sanjay Malhotra?
A: Greenish Yellow

Q: Which heritage site is depicted on the reverse of the new ₹20 note as announced
by RBI?
A: Ellora Caves

Q: Will the old ₹20 banknotes remain legal tender after the release of the new
design?
A: Yes