RBI weekly summary
RBI updates 14-20 September 2026: FPI KYC copies, NBFC exits
RBI let banks accept certified FPI document copies, cancelled five NBFC registrations, and sold Rs 50,000 crore of government securities.
The week in brief
What changed
From 18 September, commercial banks, small finance banks, local area banks, urban and rural co-operative banks, and regional rural banks may accept foreign portfolio investor documents certified by an overseas branch of an Indian scheduled commercial bank, an overseas bank with an existing relationship, a notary public abroad, a court magistrate, a judge, or an Indian embassy or consulate. For commercial banks, local area banks, and urban co-operative banks, that route already applied to NRIs and persons of Indian origin.
RBI cancelled the certificates of Dar's Financial Services Pvt Ltd, Rolta Holding and Finance Corporation Private Limited, Vasudeo Securities Pvt Ltd, Parsoli Corporation Limited, and A. C. Choksi Financial Services Pvt. Ltd., which can no longer carry on NBFI business. Eight other NBFCs surrendered certificates on exit, unregistered core investment company or Type I status, or merger or dissolution.
RBI extended Section 35A directions on Valsad Mahila Nagrik Sahakari Bank Ltd. to the close of business on 18 December 2026, and on Gauhati Co-operative Urban Bank Ltd. to the close of business on 17 December 2026, three months in each case. The Valsad notice says the extension does not mean RBI is satisfied with that bank's financial position.
On 17 September RBI sold government securities of Rs 50,000 crore, the full notified amount, against bids of Rs 66,590 crore. Settlement was on 18 September.
July 2026 preliminary data show a current-account deficit of USD 7.0 billion, against USD 3.2 billion a year earlier, a capital-account surplus of USD 27.7 billion, and an overall surplus of USD 20.8 billion. Software services exports were USD 221.4 billion in 2025-26, up 8.2 percent, with the United States taking 54.1 percent.
The premature redemption price for Sovereign Gold Bond 2019-20 Series IV on 17 September is Rs 15,173 per unit. RBI also invited a Rs 30,000 crore conversion and switch of government securities, with bids on 21 September and settlement on 22 September, and completed variable-rate reverse repo auctions cleared at a 5.24 percent cut-off.
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