RBI Grade B Current Affairs April 2026

UAE Exits OPEC and OPEC+ in Historic Move

The United Arab Emirates has formally withdrawn from OPEC and OPEC+, dealing a major blow to the global oil producers' cartel.

UAE Exits OPEC and OPEC+ in Major Blow to Global Oil Cartel

The UAE announced its withdrawal from both OPEC and OPEC+, dealing a major blow to the oil producers' group amid the ongoing Strait of Hormuz crisis.

India's Crude Oil Imports Dip 17% in March; LNG Imports Jump 20.5% Amid Shift to Gas

India's crude oil imports declined nearly 17% in March 2026 due to the West Asia conflict disrupting Middle East supplies, while LNG imports rose 20.5% as India accelerated its push for piped gas and clean fuel.

India's Forex Reserves Rise to $703 Billion; DTAA Benefits with Mauritius to Continue

India's foreign exchange reserves jumped $2.3 billion to $703 billion, while India assured Mauritius that DTAA tax benefits will continue following a Supreme Court ruling.

India's Core Sector Output Contracts 0.4% in March 2026 — Worst in 19 Months

India's eight core sector output contracted 0.4% in March 2026 — the worst performance in 19 months — as the West Asia conflict disrupted energy and industrial activity.

Credit Flows Jump 38% in FY26 to ₹44.6 Lakh Crore as RBI Rate Cuts Boost Demand

India's formal credit flows surged 38% in FY26 to ₹44.6 lakh crore, with total outstanding credit crossing ₹300 lakh crore for the first time, driven by RBI's rate cuts and liquidity infusion.

India's March Oil Imports: Russia Hits Record High, OPEC Share Drops to All-Time Low of 29%

India's March 2026 oil imports data showed Russian crude at record volumes, while OPEC's share dropped to an all-time low of 29% as India diversified away from Middle East suppliers.

India-New Zealand FTA Near Signing; PM Luxon Calls It 'Once-in-a-Generation Deal'

India and New Zealand concluded Free Trade Agreement negotiations, with signing scheduled for April 27. New Zealand PM Christopher Luxon called it a 'once-in-a-generation deal' to double bilateral trade to $5 billion.

UN Projects India GDP Growth at 6.4% in 2026; Rupee Hits 93.48 Against Dollar

The UN projected India's GDP growth at 6.4% in 2026 and 6.6% in 2027, while the rupee plunged 32 paise to settle at 93.48 against the US dollar amid oil shock pressures.

India Plugs Oil Supply Gap as Middle East Supplies Shrink; NSA Doval Meets UAE President

India is actively diversifying oil imports to plug the gap from reduced Middle East supply, while NSA Ajit Doval met UAE President to discuss the energy crisis and Strait of Hormuz situation.

HSBC Downgrades India to 'Underweight'; India-US Trade Talks: US Calls India 'Tough Nut to Crack'

HSBC downgraded India to 'underweight' citing oil shock risk, while US Trade Representative Greer called India a 'tough nut to crack' as trade negotiations wrapped up.

Jio Financial Services and Allianz Group Form JV for General and Health Insurance in India

Jio Financial Services (JFSL) and Germany's Allianz Group announced a joint venture to offer general and health insurance in India, with a separate binding agreement for life insurance also in the works.

Govt Forms SBI-Led Panel to Assess Risks from AI Platform 'Mythos'

Finance Minister Nirmala Sitharaman announced a panel led by SBI Chairman C.S. Setty to assess risks from Anthropic's AI platform Mythos and devise banking sector mitigation strategies.

Net FDI Jumps to 45-Month High in February 2026, Breaking Six-Month Negative Streak

India's net Foreign Direct Investment surged to a 45-month high in February 2026, with gross FDI jumping 61.6% to a seven-month high of nearly $9 billion.

RBI Cancels Paytm Payments Bank License Over Regulatory Non-Compliance

The RBI cancelled the banking license of Paytm Payments Bank Ltd (PPBL) for persistent regulatory violations, including non-compliance with KYC norms.

Reliance Industries Becomes First Indian Company to Cross $10 Billion Annual Profit

Reliance Industries reported a record net profit of ₹95,610 crore in FY26, becoming the first Indian company to surpass $10 billion in annual profit.

RBI MPC Holds Repo Rate Unchanged at 5.25% Amid Global Uncertainty

The RBI's Monetary Policy Committee kept the benchmark repo rate at 5.25% while maintaining a neutral stance, citing global uncertainties from the ongoing West Asia conflict.

India–New Zealand Sign Historic FTA With 100% Duty-Free Access

India and New Zealand signed a landmark Free Trade Agreement on April 27, 2026, marking one of the fastest-negotiated trade deals India has ever concluded.

RBI Keeps Repo Rate Unchanged at 5.25%

Digital Rupee Introduction

RBI Keeps Repo Rate Unchanged at 5.25%

FPI Outflows in Four Months of 2026 Surpass Entire 2025

Foreign portfolio investor outflows from India in Jan-Apr 2026 have exceeded total outflows of 2025.

Gold Demand Rises 10% in Q1 2026 as Value Surges 99%: WGC

The World Gold Council reports a 10% rise in gold demand in Jan-Mar 2026 with a 99% surge in value driven by geopolitical tensions.

India's Credit Card Base Crosses 119 Million Mark

India's credit card market has expanded to 119 million active cards, with PSU banks gaining share in spends.

ADB Cuts Asia's Growth Forecast to 4.7% for 2026

The Asian Development Bank has revised Asia's GDP growth forecast downward to 4.7% for 2026 amid global trade uncertainties.

RBI Allows Banks to Offer Natural Calamity Relief Suo Motu From July 1

The RBI has directed banks to proactively offer loan relief measures to borrowers affected by natural calamities from July 1, 2026.

US Federal Reserve Holds Interest Rates Steady

The US Federal Reserve kept its benchmark interest rate unchanged amid rising inflation concerns and geopolitical uncertainty.

NSE IPO: SEBI Panel Clears Rs 1,800 Crore Settlement Proposal

A SEBI panel cleared the NSE's Rs 1,800 crore settlement proposal, bringing the National Stock Exchange closer to its long-awaited IPO.

Maruti Suzuki Q4 Net Profit Falls 6.45% to Rs 3,659 Crore

Maruti Suzuki reported a 6.45% decline in Q4 FY26 net profit to Rs 3,659 crore, impacted by higher input costs from the Iran war and increased depreciation.

ED Attaches Rs 3,034 Crore Assets in Reliance Communications Fraud Case

The Enforcement Directorate attached assets worth Rs 3,034.90 crore in the Reliance Communications bank fraud case, including properties in Mumbai and Khandala.

India's Industrial Output Growth Slows to 4.1% in March 2026

India's Index of Industrial Production (IIP) growth slowed to a 5-month low of 4.1% in March 2026, the first month reflecting the impact of the West Asia crisis.

MoSPI to Launch Index of Services Production with 2024-25 as Base Year

MoSPI has proposed an Index of Services Production (ISP) using GST data with 2024-25 as base year to track monthly output across key service sectors.

Sun Pharma Acquires Organon in $11.75 Billion Deal

Sun Pharmaceutical Industries announced the acquisition of US-based Organon & Co for $11.75 billion, its largest-ever deal, expanding into women's health and biosimilars.

NITI Aayog: Digital Public Infrastructure to Contribute 4% of GDP by 2030

A NITI Aayog report projects India's Digital Public Infrastructure stack could contribute 4% of GDP by 2030 and outlines DPI 2.0 and 3.0 roadmaps.

NSE Crosses 13 Crore Unique Investors; Adds 1 Crore in 7 Months

The National Stock Exchange crossed the 13 crore unique investor milestone, adding 1 crore investors in just 7 months, driven by digital access and rising retail participation.

RBI Finalises Expected Credit Loss Framework; Implementation from April 2027

RBI has finalised the Expected Credit Loss provisioning framework for banks, to be implemented from April 1, 2027, replacing the current incurred loss model.

India's IT Sector Faces $115 Billion Market Rout; Infosys and HCL Miss Expectations

India's top IT exporters faced a $115 billion market cap wipeout as Infosys and HCL Technologies reported results below expectations, pressured by weak global demand and AI-driven disruption.

Syrian Court Begins Proceedings Against Assad; SBI Seeks SC Review on Spectrum IBC Ruling

A Syrian court began proceedings against ousted President Bashar al-Assad and allies, while India's SBI sought Supreme Court review of a ruling that 'spectrum' doesn't count as an asset in IBC proceedings.

FM Sitharaman Pushes Unified KYC Framework; Panel Under SBI Chief to Assess AI Threat 'Mythos'

FM Nirmala Sitharaman called for a unified KYC framework across the financial sector led by SEBI, while announcing a panel under SBI Chairman C.S. Setty to assess risks from AI platform 'Mythos'.

US Slaps 123% Anti-Dumping Duty on Indian Solar Cells and Modules

The US imposed preliminary anti-dumping duties of 123% on solar cells and modules imported from India, a potential blow to Indian solar exporters though with limited immediate domestic impact.

India's Billionaire Population to Rise 51% to 313 by 2031; Mumbai Leads UHNWI Count

India's billionaire population may rise 51% to 313 by 2031 according to Knight Frank's Wealth Report, with Mumbai accounting for 35.4% of India's Ultra High Net Worth Individuals.

RBI Bulletin Flags Upside Inflation Risks From West Asia Supply Shock; Calls External Sector Resilient

The RBI's State of Economy Report flagged upside risks to inflation from the West Asia conflict and Strait of Hormuz disruptions, while affirming India's external sector remains resilient.

India PMI Rises in April; Private Sector Gains Momentum Despite Oil Shock

India's Composite PMI rose in April 2026 driven by manufacturing strength, showing resilience against the West Asia oil shock and signaling continued private sector growth.

India Assured DTAA Benefits With Mauritius Will Continue After Supreme Court Ruling

India assured Mauritius that Double Taxation Avoidance Agreement benefits will continue despite a Supreme Court ruling, providing certainty to foreign investors.

IndusInd Bank Beats Q4 Profit Forecast on Fewer New Bad Loans

IndusInd Bank beat Q4 FY26 profit estimates, with fewer new bad loans emerging — a significant recovery after the bank's biggest-ever quarterly loss due to derivative misaccounting in the previous year.

India Approves ₹30 Billion Currency Swap for Maldives Under SAARC Facility

India approved a ₹30 billion currency swap for the Maldives under the SAARC Currency Swap Framework, reaffirming India's role as a key regional financial partner.

US Slaps 123% Anti-Dumping Duty on Indian Solar Cell and Module Imports

The US imposed preliminary anti-dumping duties of 123% on solar cells and modules imported from India, raising concerns about India's growing solar export sector.

RBL Bank Q4 Profit Soars 233% YoY; L&T Finance Profit Climbs 27%

RBL Bank reported a 233% surge in Q4 FY26 profit to ₹230 crore while L&T Finance posted a 27% jump to ₹807 crore, reflecting strong banking sector performance.

SEBI Marks 38th Anniversary; Chairman Pandey Promises Rule Simplification

SEBI celebrated its 38th foundation day with Chairman Tuhin Kanta Pandey announcing plans to simplify regulations and boost technology-led market oversight.

India's Textiles and Garment Exports Fall 2.2% in FY2025-26

India's textiles and garment exports declined 2.2% in FY2025-26, reflecting global demand weakness and competitiveness challenges.

FII Outflows Reach ₹1.75 Lakh Crore in 2026; JPMorgan Downgrades India to Neutral

Foreign Institutional Investors pulled out ₹1.75 lakh crore from Indian equities in 2026 so far, as JPMorgan downgraded India from Overweight to Neutral.

India-US Conclude 'Constructive' In-Person Trade Talks in Washington

Indian trade officials concluded constructive in-person talks with US counterparts in Washington, the first face-to-face meeting since October 2025, though no deadline was set.

India Plans Global Diplomatic Push Across Europe, Africa, and BRICS in May

India is set for a major diplomatic push in May 2026 with engagements across Europe, Africa, BRICS, and the Quad — including an India-Nordic Summit.

Axis Bank Q4 Profit Dips on Higher Provisions and Trading Losses

Axis Bank reported a slight dip in Q4 FY26 net profit due to trading losses and increased provisions, though asset quality showed improvement.

U.S. Chabahar Port Sanctions Waiver Expires, Threatening India's Connectivity Project

The US sanctions waiver on India's Chabahar port operations in Iran expired on April 26, putting the 23-year-old strategic connectivity project at risk.

NSA Doval Meets UAE President Amid Strait of Hormuz Crisis

National Security Advisor Ajit Doval met UAE President in Abu Dhabi to discuss energy security and the Strait of Hormuz crisis triggered by the Iran-US conflict.

Sun Pharma Acquires US-Based Organon in $11.75 Billion Deal

India's Sun Pharmaceutical Industries announced the acquisition of US-based Organon & Co. for $11.75 billion in an all-cash deal, one of the largest outbound acquisitions by an Indian company.

India's Wind Energy Capacity Crosses 56 GW Milestone

PM Modi hailed India crossing 56 GW of installed wind energy capacity, reinforcing the country's push toward its renewable energy targets.

ADB Raises India's Growth Projection to 6.9%