RBI weekly summary
RBI updates 12-18 October 2026: INR NDDC curbs, FX risk reserve
RBI limited INR NDDCs for non-residents to hedging, added a 20% FX risk reserve, approved the Emirates NBD and RBL merger and kept absorbing liquidity.
The week in brief
What changed
Authorised Dealers may offer INR non-deliverable derivatives to non-residents only for hedging. They must hold a 20% cash Foreign Exchange Risk Reserve on specified INR contracts entered after 12 October; RBI also issued FAQs on the reserve.
RBI approved the amalgamation of Emirates NBD's Indian branches into RBL Bank, effective 1 December 2026.
Daily VRRR auctions absorbed surplus liquidity, starting with a 3-day auction notified at ₹2 lakh crore on 12 October. RBI also sold ₹25,000 crore of government securities through an OMO on 13 October.
The ₹34,000 crore 6.94% GS 2036 reissue was fully accepted at a cut-off price of ₹96.91. T-bill and state loan auctions ran, and a ₹20,000 crore switch auction is set for 19 October.
Premature redemption prices were set at ₹14,725 for SGB 2019-20 Series V and ₹14,614 for SGB 2020-21 Series VII.
August 2026 balance of payments data showed a US$5.2 billion current account deficit. RBI also opened new rounds of its industrial and services outlook surveys.
Complied AI condensed the week's RBI records into the points above. Use the inline links to check each underlying update.
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