RBI Extends Enhanced Export Credit Period
1 May 2026National
The RBI extended the enhanced 450-day export credit period for pre- and post-shipment finance until 30 June 2026, a facility introduced in November 2025 to help exporters amid West Asia disruptions.
More Economy Current Affairs
EIndia's Exports Reach USD 232.73 Billion in Q1 FY27The <b>Ministry of Commerce and Industry (MoC&I)</b> released trade data for <b>Q1 (April-June) of FY2026-27</b>. India's total exports in Q1 FY27 stood at <b>USD 232.73 billion</b> and total imports at <b>USD 270.15 billion</b>. Merchandise exports were <b>USD 129.32 billion</b> (up from USD 111.57 bn in Q1 FY26) and services exports were estimated at <b>USD 103.41 billion</b>. Merchandise imports stood at USD 216.18 billion and service imports at USD 53.97 billion.16 Jul 2026ERBI Approves Rajiv Kumar as Part-Time Chairman of HDFC BankThe Reserve Bank of India (RBI) approved the appointment of Rajiv Kumar as the part-time chairman of HDFC Bank for a period of three years, effective 15 July 2026. Earlier in July 2026, the RBI appointed Ravi Shankar as an Executive Director (effective 1 July 2026) to head the Department of Statistics and Information Management (DSIM).16 Jul 2026EUnion Cabinet Approves Rs 2.19 Lakh Crore Package — Semicon 2.0, Mobile Phone Manufacturing Scheme & Urea PolicyOn 15 July 2026, the Union Cabinet chaired by PM Narendra Modi cleared seven major decisions with a combined outlay of Rs 2,19,353 crore. Key approvals: Semicon 2.0 (outlay Rs 1,27,500 crore), the second phase of the India Semiconductor Mission; the Mobile Phone Manufacturing Scheme (MPMS) with Rs 62,500 crore over 5 years; and the National Investment Policy for Urea-2026 (NIPU-2026) to boost indigenous urea capacity. Rail projects cleared include doubling of the Paradeep-Haridaspur line (Rs 2,542 crore) and a fourth line between Dangoaposi-Rajkharsawan (Rs 1,365 crore), plus a 6-lane Greenfield elevated corridor linking NH-19 and the Varanasi Ring Road (UP) on Hybrid Annuity Model.16 Jul 2026EBank of Maharashtra Launches 'FinSpark''26' National Cybersecurity HackathonBank of Maharashtra (BoM) launched "FinSpark''26", a national-level cybersecurity hackathon under the theme "Securing the Future of Banking", with the Indian Banks' Association (IBA), the Department of Financial Services (DFS) and COEP Technological University. It offers a prize pool of over ₹10 lakh; the top 20 teams present at the Grand Finale at COEP, Pune, and winners demonstrate at Global FinTech Fest 2026.14 Jul 2026