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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🇮🇳 Highlights of PM's Independence Day Speech 2026
Vision 2047
• Reiterated the goal of building a Viksit Bharat by 2047.
• Vande Mataram was sung at the Red Fort on Independence Day for the first time in 80 years.
Economy & Digital India
• Internet users and digital consumers increased by 4%.
• Digital transactions witnessed 100% growth.
• Expansion of piped water and LPG connections highlighted as key achievements.
Energy & Infrastructure
• Target to generate 100 GW of nuclear power by 2047 and establish 5 new nuclear reactors.
• Piped gas network expanded from 70 cities (pre-2014) to 700+ cities, covering 1.45 crore households.
• Solar power capacity increased to 106 GW.
• India achieved 100% railway electrification within the last decade.
Trade & Manufacturing
• Emphasised Make in India and self-reliance.
• Highlighted the importance of critical minerals, energy security and data centres.
• India is pursuing Free Trade Agreements (FTAs) with 40+ countries.
• Stressed the export potential of India's seafood sector.
'Reform Express' – Saptadhara Reforms
Seven priority reform areas:
✓Manufacturing & Global Supply Chains
✓Food Production & Processing
✓Technology & Innovation
✓PM Gati Shakti & Connectivity
✓Defence
✓Green & Blue Economy
✓Soft Power (Yoga, Tourism, Culture, Entertainment)
Banking & Industry
• Expressed the vision of having one Indian bank among the world's top five.
• Called for Indian pharmaceutical companies to rank among the top five globally.
Youth & Education
• ₹1 lakh crore Innovation Fund announced.
• Over 1 crore youth to receive AI training in the next one year.
• Free online coaching for competitive examinations.
• Continued focus on Digital India, Skill India, Khelo India and the National Education Policy.
Sports
• Target to compete in new disciplines at the 2036 Olympics.
• Talent Hunt Programme for children aged 5–15 years.
Internal Security
• Reaffirmed the resolve to make India Naxal-free.
• Announced the creation of a Civil Defence Network.
Women & Governance
• Urged political parties to support the Nari Shakti Vandan Adhiniyam (Women's Reservation Bill).
• Encouraged citizens, especially youth, to participate in the self-census enumeration.
Vision 2047
• Reiterated the goal of building a Viksit Bharat by 2047.
• Vande Mataram was sung at the Red Fort on Independence Day for the first time in 80 years.
Economy & Digital India
• Internet users and digital consumers increased by 4%.
• Digital transactions witnessed 100% growth.
• Expansion of piped water and LPG connections highlighted as key achievements.
Energy & Infrastructure
• Target to generate 100 GW of nuclear power by 2047 and establish 5 new nuclear reactors.
• Piped gas network expanded from 70 cities (pre-2014) to 700+ cities, covering 1.45 crore households.
• Solar power capacity increased to 106 GW.
• India achieved 100% railway electrification within the last decade.
Trade & Manufacturing
• Emphasised Make in India and self-reliance.
• Highlighted the importance of critical minerals, energy security and data centres.
• India is pursuing Free Trade Agreements (FTAs) with 40+ countries.
• Stressed the export potential of India's seafood sector.
'Reform Express' – Saptadhara Reforms
Seven priority reform areas:
✓Manufacturing & Global Supply Chains
✓Food Production & Processing
✓Technology & Innovation
✓PM Gati Shakti & Connectivity
✓Defence
✓Green & Blue Economy
✓Soft Power (Yoga, Tourism, Culture, Entertainment)
Banking & Industry
• Expressed the vision of having one Indian bank among the world's top five.
• Called for Indian pharmaceutical companies to rank among the top five globally.
Youth & Education
• ₹1 lakh crore Innovation Fund announced.
• Over 1 crore youth to receive AI training in the next one year.
• Free online coaching for competitive examinations.
• Continued focus on Digital India, Skill India, Khelo India and the National Education Policy.
Sports
• Target to compete in new disciplines at the 2036 Olympics.
• Talent Hunt Programme for children aged 5–15 years.
Internal Security
• Reaffirmed the resolve to make India Naxal-free.
• Announced the creation of a Civil Defence Network.
Women & Governance
• Urged political parties to support the Nari Shakti Vandan Adhiniyam (Women's Reservation Bill).
• Encouraged citizens, especially youth, to participate in the self-census enumeration.
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🏦 Functions of the Reserve Bank of India (RBI)
(Source : Interview Library)
• Monetary Authority: Formulates and implements monetary policy to maintain price stability while supporting economic growth.
• Regulator & Supervisor of Banks: Regulates banks, NBFCs and certain financial institutions to ensure the stability of the financial system.
• Issuer of Currency: Sole authority to issue banknotes in India (except ₹1 note and coins, which are issued by the Government of India).
• Banker to the Government: Manages the banking transactions, public debt and cash balances of the Central and State Governments.
• Banker's Bank & Lender of Last Resort: Maintains banks' accounts, provides liquidity support and acts as the lender of last resort during financial stress.
• Manager of Foreign Exchange: Manages India's foreign exchange reserves and administers the Foreign Exchange Management Act (FEMA), 1999.
• Regulator of Payment & Settlement Systems: Ensures safe, secure and efficient payment systems such as UPI, RTGS and NEFT.
• Developmental Role: Promotes financial inclusion, strengthens financial markets and supports institutions that contribute to economic development.
• Consumer Protection: Operates the RBI Integrated Ombudsman Scheme for grievance redressal against regulated entities.
ProbableInterview Questions:
✓What are the primary functions of the RBI?
✓Why is RBI called the "Banker's Bank"?
✓What is the difference between RBI's role as a monetary authority and a banking regulator?
✓Why is RBI known as the lender of last resort?
(Source : Interview Library)
• Monetary Authority: Formulates and implements monetary policy to maintain price stability while supporting economic growth.
• Regulator & Supervisor of Banks: Regulates banks, NBFCs and certain financial institutions to ensure the stability of the financial system.
• Issuer of Currency: Sole authority to issue banknotes in India (except ₹1 note and coins, which are issued by the Government of India).
• Banker to the Government: Manages the banking transactions, public debt and cash balances of the Central and State Governments.
• Banker's Bank & Lender of Last Resort: Maintains banks' accounts, provides liquidity support and acts as the lender of last resort during financial stress.
• Manager of Foreign Exchange: Manages India's foreign exchange reserves and administers the Foreign Exchange Management Act (FEMA), 1999.
• Regulator of Payment & Settlement Systems: Ensures safe, secure and efficient payment systems such as UPI, RTGS and NEFT.
• Developmental Role: Promotes financial inclusion, strengthens financial markets and supports institutions that contribute to economic development.
• Consumer Protection: Operates the RBI Integrated Ombudsman Scheme for grievance redressal against regulated entities.
ProbableInterview Questions:
✓What are the primary functions of the RBI?
✓Why is RBI called the "Banker's Bank"?
✓What is the difference between RBI's role as a monetary authority and a banking regulator?
✓Why is RBI known as the lender of last resort?
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OpenAI launched “ChatGPT for Teens” for users aged 13–17. Users identified as under 18 are automatically placed into the teen experience.
The teen version introduces additional protections against:
Self-harm and suicide-related content
Violence and dangerous activities
Sexually explicit content and romantic/sexual roleplay
Eating disorders and harmful body-image content
The teen version introduces additional protections against:
Self-harm and suicide-related content
Violence and dangerous activities
Sexually explicit content and romantic/sexual roleplay
Eating disorders and harmful body-image content
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