Foreign Contribution (Regulation) Amendment Bill, 2026
Source : Interview Library
✓What is FCRA?
The Foreign Contribution (Regulation) Act, 2010 regulates the receipt and utilisation of foreign contributions by NGOs, trusts, associations, and other organisations to ensure transparency, accountability, and protection of national interest.
✓Why was the Amendment introduced?
The existing law did not clearly provide for the management of assets created using foreign contributions when an organisation's FCRA registration expires, is cancelled, or is surrendered.
✓Major Highlights of the Bill
• Establishes a Designated Authority to take custody, manage, and dispose of assets created from foreign contributions after an organisation loses its FCRA registration.
• Preserves the religious character of places of worship while managing such assets.
• Reduces the maximum imprisonment for certain FCRA violations from 5 years to 1 year.
• Strengthens oversight and accountability in the utilisation of foreign contributions and related assets.
✓Significance
• Fills a legal gap regarding foreign-funded assets.
• Prevents misuse of foreign contributions.
• Enhances transparency and accountability in foreign funding.
✓Concerns
Critics argue that the Bill gives the government greater control over NGO assets and may affect the autonomy of civil society organisations.
Source : Interview Library
✓What is FCRA?
The Foreign Contribution (Regulation) Act, 2010 regulates the receipt and utilisation of foreign contributions by NGOs, trusts, associations, and other organisations to ensure transparency, accountability, and protection of national interest.
✓Why was the Amendment introduced?
The existing law did not clearly provide for the management of assets created using foreign contributions when an organisation's FCRA registration expires, is cancelled, or is surrendered.
✓Major Highlights of the Bill
• Establishes a Designated Authority to take custody, manage, and dispose of assets created from foreign contributions after an organisation loses its FCRA registration.
• Preserves the religious character of places of worship while managing such assets.
• Reduces the maximum imprisonment for certain FCRA violations from 5 years to 1 year.
• Strengthens oversight and accountability in the utilisation of foreign contributions and related assets.
✓Significance
• Fills a legal gap regarding foreign-funded assets.
• Prevents misuse of foreign contributions.
• Enhances transparency and accountability in foreign funding.
✓Concerns
Critics argue that the Bill gives the government greater control over NGO assets and may affect the autonomy of civil society organisations.
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Haryana retains top position in SGST Collections.
Having recorded the highest growth in State Goods and Service Tax (SGST) collections among all states in the 2025–26 fiscal year, the Haryana government has retained its leading position in the growth of post-settlement SGST collections during the first four months of 2026–27.
Having recorded the highest growth in State Goods and Service Tax (SGST) collections among all states in the 2025–26 fiscal year, the Haryana government has retained its leading position in the growth of post-settlement SGST collections during the first four months of 2026–27.
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RBI Set to Launch 'Plastic' notes at start of 2027-28.
The Reserve Bank of India (RBI) plans to launch polymer banknotes at the beginning of next financial year (FY28), and people will initially get hold of lower denomination “plastic” notes, that of Rs 10 and Rs 20.
“Polymer notes have two purposes. One, it enhances the durability. This is relevant especially for the lower denominated notes with higher velocity. These notes have been in circulation for more than 30 years in various countries, and one finds that the life is much more, around 2-4 times the life of the paper currency,” Malhotra said at the central bank’s post monetary policy press conference.
The Reserve Bank of India (RBI) plans to launch polymer banknotes at the beginning of next financial year (FY28), and people will initially get hold of lower denomination “plastic” notes, that of Rs 10 and Rs 20.
“Polymer notes have two purposes. One, it enhances the durability. This is relevant especially for the lower denominated notes with higher velocity. These notes have been in circulation for more than 30 years in various countries, and one finds that the life is much more, around 2-4 times the life of the paper currency,” Malhotra said at the central bank’s post monetary policy press conference.
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🏛 Bankers' Books Evidence Bill, 2026
The Bankers' Books Evidence Bill, 2026 replaces the Bankers' Books Evidence Act, 1891, modernizing the legal framework for banking records in the digital era.
Key Highlights
• Gives legal recognition to electronic, digital and cloud-based banking records.
• Allows authenticated electronic records and certified copies to be used as evidence in courts, reducing the need to produce original records.
• Aligns banking laws with Core Banking Systems (CBS) and digital banking practices.
• Facilitates faster and more efficient legal proceedings involving banks.
• Strengthens the legal framework for India's growing digital banking ecosystem.
Why was it needed?
The 1891 Act was designed for an era when banks maintained physical ledgers. With the shift to digital banking, a modern law was required to recognize electronic records as valid evidence.
The Bankers' Books Evidence Bill, 2026 replaces the Bankers' Books Evidence Act, 1891, modernizing the legal framework for banking records in the digital era.
Key Highlights
• Gives legal recognition to electronic, digital and cloud-based banking records.
• Allows authenticated electronic records and certified copies to be used as evidence in courts, reducing the need to produce original records.
• Aligns banking laws with Core Banking Systems (CBS) and digital banking practices.
• Facilitates faster and more efficient legal proceedings involving banks.
• Strengthens the legal framework for India's growing digital banking ecosystem.
Why was it needed?
The 1891 Act was designed for an era when banks maintained physical ledgers. With the shift to digital banking, a modern law was required to recognize electronic records as valid evidence.
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Centre spent over ₹550 crore on PM Modi's Foreign Visits
Nearly ₹550 crore has been spent on Prime Minister Narendra Modi's overseas visits since 2021, the government said in a reply to Parliament.
Of this, ₹180 crore was incurred for PM Modi's visit to 23 countries, including the US, the UK, France, China and Japan, in 2025, according to government data.
So far in 2026, the expenditure of PM Modi's foreign visits has reached over ₹74.58 crore, Minister of State for External Affairs Pabitra Margherita informed the Rajya Sabha.
Nearly ₹550 crore has been spent on Prime Minister Narendra Modi's overseas visits since 2021, the government said in a reply to Parliament.
Of this, ₹180 crore was incurred for PM Modi's visit to 23 countries, including the US, the UK, France, China and Japan, in 2025, according to government data.
So far in 2026, the expenditure of PM Modi's foreign visits has reached over ₹74.58 crore, Minister of State for External Affairs Pabitra Margherita informed the Rajya Sabha.
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🚨 Govt is now considering tax on our Mobile Internet Usage!
Yes, you read that right.
The Department of Telecommunications has been asked to study the feasibility of imposing a tax on mobile data usage.
One proposal reportedly under consideration is a levy of ₹1 per GB of mobile data consumed!
What could this mean?
• Proposed levy: ₹1 per GB of mobile data.
• An average Indian uses around 25 GB of mobile data every month.
• If implemented, the proposal could generate more than ₹15,000 crores in additional revenue for the government.
(Note : This is only a proposal under examination. No tax has been approved or implemented yet)
What are your thoughts about this?
Yes, you read that right.
The Department of Telecommunications has been asked to study the feasibility of imposing a tax on mobile data usage.
One proposal reportedly under consideration is a levy of ₹1 per GB of mobile data consumed!
What could this mean?
• Proposed levy: ₹1 per GB of mobile data.
• An average Indian uses around 25 GB of mobile data every month.
• If implemented, the proposal could generate more than ₹15,000 crores in additional revenue for the government.
(Note : This is only a proposal under examination. No tax has been approved or implemented yet)
What are your thoughts about this?
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#Interview_Basics
🏦 Bank vs NBFC (Non-Banking Financial Company)
Bank
• Can accept Savings and Current Account deposits.
• Can issue cheque books and provide payment services.
• Deposits are insured by DICGC (up to ₹5 lakh per depositor).
• Regulated by RBI under the Banking Regulation Act, 1949.
NBFC
• Cannot accept demand deposits (Savings/Current Accounts).
• Cannot issue cheque books or operate the payment system.
• Mainly provides loans and other financial services.
• Regulated by RBI under the RBI Act, 1934.
Why are NBFCs important?
• They provide credit to sectors that are often underserved by banks, such as MSMEs, rural borrowers, vehicle finance and affordable housing, thereby promoting financial inclusion.
Probable Interview Question
Q. If NBFCs cannot accept demand deposits, why are they called financial companies?
Ans. Because they provide financial services such as loans, leasing, hire purchase, investment and asset financing, even though they do not function as full-fledged banks.
Credit : Interview Library
🏦 Bank vs NBFC (Non-Banking Financial Company)
Bank
• Can accept Savings and Current Account deposits.
• Can issue cheque books and provide payment services.
• Deposits are insured by DICGC (up to ₹5 lakh per depositor).
• Regulated by RBI under the Banking Regulation Act, 1949.
NBFC
• Cannot accept demand deposits (Savings/Current Accounts).
• Cannot issue cheque books or operate the payment system.
• Mainly provides loans and other financial services.
• Regulated by RBI under the RBI Act, 1934.
Why are NBFCs important?
• They provide credit to sectors that are often underserved by banks, such as MSMEs, rural borrowers, vehicle finance and affordable housing, thereby promoting financial inclusion.
Probable Interview Question
Q. If NBFCs cannot accept demand deposits, why are they called financial companies?
Ans. Because they provide financial services such as loans, leasing, hire purchase, investment and asset financing, even though they do not function as full-fledged banks.
Credit : Interview Library
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SBI uses AI to Underwrite 1 trillion MSME Loans in FY 2026.
Country’s largest lender State Bank of India (SBI) used artificial intelligence to underwrite nearly Rs 1 trillion of MSME loans of up to Rs 5 crore each in FY26, while also fully automating the processing of cheques up to Rs 10,000 through a straight through processing (STP) system, Managing Director Rama Mohan Rao Amara said.
Country’s largest lender State Bank of India (SBI) used artificial intelligence to underwrite nearly Rs 1 trillion of MSME loans of up to Rs 5 crore each in FY26, while also fully automating the processing of cheques up to Rs 10,000 through a straight through processing (STP) system, Managing Director Rama Mohan Rao Amara said.
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Himachal Pradesh Introduces 'Orphan and Widow Cess'
• The Act introduces an 'Orphan and Widow Cess' of up to ₹5 per litre on petrol and high-speed diesel (HSD).
• The revenue will be credited to the Orphan and Widow Welfare Fund to support the welfare of orphans and widows from economically weaker sections.
• The Act introduces an 'Orphan and Widow Cess' of up to ₹5 per litre on petrol and high-speed diesel (HSD).
• The revenue will be credited to the Orphan and Widow Welfare Fund to support the welfare of orphans and widows from economically weaker sections.
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𝗜𝗕𝗣𝗦 𝗣𝗢 𝗣𝗥𝗘 𝗔𝗗𝗠𝗜𝗧 𝗖𝗔𝗥𝗗 𝗢𝗨𝗧
https://ibpsreg.ibps.in/crppoxvijun26/oecla_aug26/login.php?appid=a4fe64b0f7c33f95f3c4d31e06680eaf
https://ibpsreg.ibps.in/crppoxvijun26/oecla_aug26/login.php?appid=a4fe64b0f7c33f95f3c4d31e06680eaf
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