This digest collects the regulatory and economic updates that RBI Grade B, SEBI Grade A and NABARD exams love to ask about. It covers October and early November 2026. Read it alongside our daily current affairs.
RBI: Monetary policy (7 October 2026)
| Item | Decision |
|---|---|
| MPC meeting | 63rd meeting, 5–7 October 2026 |
| Repo rate | Raised by 25 bps to 5.50% (first hike since February 2023) |
| Vote on rate | Unanimous (6–0) |
| Stance | Changed to “calibrated tightening” (vote 4–2) |
| SDF / MSF / Bank rate | 5.25% / 5.75% / 5.75% |
| CRR / SLR | 3% / 18% (unchanged) |
| CRR daily maintenance | Banks must keep at least 99% of required CRR every day, from the fortnight starting 16 October 2026 |
| GDP projection FY27 | 7.1% (raised from 6.7%) |
| CPI projection FY27 | 5.2% (raised from 5.0%) |
| Reasons | West Asia conflict and crude prices, weak south-west monsoon and El Niño, food prices, a US Fed hike, rupee pressure |
| Next MPC meeting | 2–4 December 2026 |
Developmental and regulatory measures (as reported):
- Interoperability among NBFC-Account Aggregators, targeted by 31 December 2026.
- A Technical Consultative Committee for Financial Markets (TCCFM) for money, G-sec, forex and derivatives markets; meets at least quarterly.
RBI: Other directions and actions
| Update | Key point |
|---|---|
| FEMA (Export and Import of Goods and Services) (Second Amendment) Regulations, 2026 | Effective 1 October 2026; simpler export declaration; relief for transactions up to ₹10 lakh |
| Cyber Resilience and Digital Payment Security Master Directions (non-bank PSOs) | Cyber incidents must be reported to RBI within 6 hours; small PSOs covered from 1 April 2028 |
| Draft Priority Sector Lending Directions | Consolidated PSL rules for commercial banks, SFBs, LABs, RRBs and UCBs; comments by 26 November 2026 |
| NBFC registration cancelled | Gandhinagar Leasing and Finance Ltd (Section 45-IA(6)), effective 29 October 2026 |
| Liquidity | 4-day VRR auction of ₹50,000 crore on 9 November 2026 (cut-off 5.51%) |
SEBI: Board meeting (24 September 2026, 215th)
| Decision | Key point |
|---|---|
| New Portfolio Managers Regulations, 2026 | Replace the 2020 rules; PRIM route (₹25 lakh minimum for mutual fund units); Independent Fund Manager concept |
| New Settlement Regulations, 2026 | Formula-based settlement amounts; pre-show-cause settlement notice with 60-day window |
| Common Advertisement Code | One code for brokers, advisers, RAs, PMS and mutual funds; no prior approval except celebrity endorsements |
| FPIs in commodity derivatives | Allowed in non-agricultural index and non-cash-settled non-agri commodity derivatives |
| Vault Managers | Cover all bullion instruments; net worth raised to ₹75 crore |
| REITs / InvITs | Depository receipts on units (in IFSC first); unitholder approval at 75% of votes cast |
| Accredited investors | AIF/SIF/PMS managers can accredit; ₹5 crore (individuals) / ₹20 crore (corporates) securities test; 3-year validity |
| AIF investor protection | Extended to all AIF structures |
SEBI: October–November 2026
| Update | Key point |
|---|---|
| REIT depository receipts circular | 2 November 2026: rules for REITs issuing DRs on international exchanges |
| AIF Master Circular updated | 5 November 2026: new accredited investor framework |
| Innovators Growth Platform | Working group set up to review listing rules for innovation-led start-ups |
| MoU with BHASHINI | 3 November 2026: SEBI services in regional languages |
Key economic data (latest)
| Indicator | Latest |
|---|---|
| GDP growth, Q1 FY27 | 7.8% (base year 2022-23) |
| CPI inflation, September 2026 | 5.54% (food 7.74%; base 2024) |
| Unemployment (CWS), September 2026 | 5.0% |
| CAD, Q1 FY27 | $4.2 billion (0.5% of GDP) |
| Forex reserves (30 October 2026) | $717.1 billion |
| Rupee | About ₹93.9 per dollar (6 November 2026) |
| FPI equity inflow, first week of November | About ₹38,971 crore |
| NBFC credit growth, September 2026 | 15.4% year on year |
Exam-ready one-liners
- RBI raised the repo rate by 25 bps to 5.50% on 7 October 2026; stance: calibrated tightening.
- The rate decision was 6–0; the stance vote was 4–2.
- RBI’s FY27 forecasts: GDP 7.1%, CPI 5.2%.
- Banks must keep 99% of required CRR daily from 16 October 2026.
- SEBI’s 215th board meeting (24 September 2026) approved new PMS and Settlement Regulations.
- SEBI’s accredited investor framework: ₹5 crore / ₹20 crore securities test; 3-year validity.
- SEBI allowed depository receipts on REIT/InvIT units (REIT circular of 2 November 2026).
- Next MPC meeting: 2–4 December 2026.
Related reading
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Compiled from RBI, SEBI and MoSPI releases as reported up to 10 November 2026. Always confirm details on rbi.org.in and sebi.gov.in.
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