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Informist, Friday, May 29, 2026

MUMBAI - Following is a summary of Compilation of copies from RBI annual report:

Rupee trade sees double-digit growth in invoicing since launch

The use of the Indian rupee as an invoicing and settlement currency is picking up, with Reserve Bank of India's data showing export and import invoicing growing at a double-digit compound annual growth rate since the framework was introduced in July 2022. 

Liquidity mgmt ops to remain in sync with policy stance FY27

The Reserve Bank of India's liquidity management operations will remain in sync with the monetary policy stance, the central bank said in its Annual Report for 2025-26 (Apr-Mar). The RBI's Monetary Policy Committee has maintained a 'neutral' policy stance since June while cutting its repo rate by 125 basis points between February and December 2025 to 5.25%.

To deepen strategy on financial inclusion going ahead

The Reserve Bank of India continued to focus on the availability of banking services to all sections of society and aims to deepen the strategy adopted under the National Strategy for Financial Inclusion going forward, according to the central bank's annual report for 2025-26 (Apr-Mar) released Friday. The central bank expects the banking sector to remain resilient, supported by prudent regulatory reforms, stable credit growth and adequate capital buffers.

To expand CBDC pilot to direct benefit transfer schemes

The Reserve Bank of India intends to expand its Central Bank Digital Currency e-rupee pilot to direct benefit transfer schemes and in domestic retail in 2026-27 (Apr-Mar). The value of bank notes in circulation in the form of retail e-rupee was INR 7.72 billion as of Mar. 31, down from INR 10.16 billion a year ago, the RBI said in its annual report for FY26 released Friday. 

To review FX mgmt non-debt instruments, other FX rules in FY27

The Reserve Bank of India is looking to review and rationalise multiple foreign exchange management regulations, including non-debt instruments and insurance in 2026-27 (Apr-Mar). "During 2025-26, the Reserve Bank continued to focus on further developing and deepening financial markets through several initiatives, including rationalising external sector regulations for increased ease of doing business and encouraging the adoption of INR for cross-border transactions," it said in its Annual Report for FY26 released Friday. 

DICGC deposit insurance fund INR 2.6 tln as of Mar 31, up 14%

The Deposit Insurance and Credit Guarantee Corp.'s deposit insurance fund grew more than 14% on year to INR 2.62 trillion as of Mar. 31, the Reserve Bank of India said in its annual report for financial year 2025-26 (Apr-Mar). The deposit insurance premiums collected rose 12% on year to INR 299.47 billion.

To orderly manage FY27 govt borrow with fisc gap target in mind

The government's market borrowing programme will be managed "in an orderly manner" in 2026-27 (Apr-Mar), keeping in mind the fiscal deficit targets and evolving market conditions, the Reserve Bank of India said in its annual report for FY26 released Friday. The report also outlined a plan to consolidate regulations applicable to the secondary government bond market.

Central bank to review growth, inflation forecasting in FY27

The Reserve Bank of India's Monetary Policy Department will focus on strengthening macroeconomic forecasting and policy analysis this financial year, the central bank said Friday. Accordingly, the RBI will review and improve GDP growth and inflation forecasting, the central bank said in its Annual Report for FY26. 

Gold holdings tad up at 880.52 tn in FY26 from 879.58 tn yr ago

The Reserve Bank of India's gold holdings marginally rose to 880.52 tonnes in 2025-26 (Apr-Mar) from 879.58 tonnes the previous year. Of the holdings, 312.32 tonnes or over 35% was held as backing for notes, while the remaining 568.20 tonnes was treated as assets, the RBI said in its annual report for FY26 Friday.

To review credit, liquidity risk stress test framework for NBFCs

The Reserve Bank of India will review the credit risk and liquidity risk stress testing framework for non-banking financial companies in 2026-27 (Apr-Mar), it said in its Annual Report for FY26 released Friday. It is part of the Department of Supervision's agenda for this financial year. 

To diversify deployment of FX assets amid global risks FY27

The Reserve Bank of India will increase its focus on deploying foreign currency assets in a more diversified portfolio in 2026-27 (Apr-Mar) to optimise risks and improve returns in the backdrop of increased geopolitical risks and economic policy uncertainty. The central bank will also look to upgrade its foreign exchange reserve management systems and processes for better risk management, the RBI said in its Annual Report for FY26.

India FY27 inflation seen near 4% target, W Asia war poses risks

India's headline inflation for 2026-27 (Apr-Mar) is likely to remain aligned with the Reserve Bank of India's medium-term target of 4%, with upside risk arising from the evolving situation in West Asia, the central bank said Friday. Adequate foodgrain stocks, sufficient reservoir levels, and stable agricultural prospects are positive for the inflation outlook, the RBI said in its Annual Report for FY26.

Bank fraud cases halve in FY26 but amount involved rises 46%

The total number of frauds reported by banks and financial institutions more than halved in 2025–26 (Apr-Mar) but the amount involved increased sharply, according to data released by the Reserve Bank of India Friday. The number of fraud cases fell 57% on year to 10,114 in FY26. However, the amount involved in frauds rose to INR 480.21 billion in FY26, up 46% from INR 328.03 billion a year ago. 

Indian econ seen resilient in FY27 despite external challenges

The Indian economy is expected to remain resilient in the current financial year despite a challenging external environment, the Reserve Bank of India said Friday. India's growth prospects are supported by strong macroeconomic fundamentals, but a prolonged war in West Asia poses downside risk, the central bank said in its Annual Report for 2025-26 (Apr-Mar).

Overall corporate bond issues robust FY26, pvt placements lead

Corporate bond issuances remained robust overall in 2025-26 (Apr-Mar), supported by improved corporate balance sheets, and were a key driver of higher flows from non-bank sources along with foreign direct investment into India, the Reserve Bank of India said in its annual report for FY26 released Friday. However, primary issuances of listed corporate bonds on domestic stock exchanges declined to INR 9.1 trillion during FY26 from INR 9.9 trillion in the previous year, even as secondary market turnover rose sharply. The fall in primary issuances came alongside a moderation in mobilisation through overseas issuances.

Gains from FX ops boomed FY26, helped transfer record surplus

The Reserve Bank of India's gains from its foreign exchange transactions boomed in financial year 2025-26 (Apr-Mar), its annual report released Friday showed. This led to a 50% rise in its other income and drove its surplus transfer to the government to a record high, the data showed.

To review directions on interest rates on advances in FY27

The Reserve Bank of India will review directions on interest rates on advances in 2026-27 (Apr-Mar), the central bank said in its annual report for FY26. It will also review directions on credit risk management and market mechanisms for credit risk distribution in the current financial year.   

Underwriting commission paid to PDs in FY26 rises to INR 863 mln

The government's expenditure on account of underwriting commission paid to primary dealers, including Goods and Services Tax, for auctions of dated government bonds rose to INR 863 million in the financial year 2025-26 (Apr-Mar). This was over five times higher than INR 158 million paid in the previous year. The rise in underwriting amount in the reporting year was likely due to current market conditions amid escalating geopolitical risks, the Reserve Bank of India said in its annual report.

Centre's post-pandemic fiscal consolidation seen continuing FY27

The Centre's fiscal consolidation seen in post-pandemic years is expected to continue in 2026-27 (Apr-Mar), the Reserve Bank of India said Friday. This augers well for medium-term growth, it said in its Annual Report 2025-26. "The central government's thrust on growth-inducing capital spending is expected to continue," the central bank said.

Fiscal outlook for states remains positive for FY27

The Reserve Bank of India expects states' fiscal situation to remain positive in 2026-27 (Apr-Mar), the central bank said in its Annual Report 2025-26. "Fiscal outlook for states remains positive for FY27 with their consolidated gross fiscal deficit budgeted at 3.0% of gross state domestic product," the report said.

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Compiled by Vinodini Yadav

Filed by Akul Nishant Akhoury

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