Balance of Payments Current Affairs for UPSC

Indian banks have mobilised about $17.4 billion in fresh Foreign Currency Non-Resident (Bank), or FCNR(B), deposits under a special Reserve Bank of India (RBI) swap window opened to attract foreign capital, support a weakening rupee and rebuild foreign exchange reserves. Along with overseas foreign currency borrowings and external commercial borrowings, total inflows through the concessional swap facility reached $20.72 billion up to 17 July 2026. This article explains what FCNR(B) deposits are, how the swap and hedging mechanism works, the macroeconomic context of rupee pressure and falling reserves, and how the scheme compares with the RBI's 2013 measure.

The Government of India is working on a new contributory pension scheme under the EPFO 3.0 reform programme to extend retirement security to unorganised and formal sector workers currently left out of the Employees' Pension Scheme (EPS). The scheme proposes a Target Retirement Sum (TRS) that converts accumulated savings into a pension at age 60, with options of an annuity or a systematic withdrawal plan. This article explains the proposed scheme, the TRS concept, the existing EPFO and EPS-95 framework, the defined contribution model, the Code on Social Security 2020, comparisons with NPS and PM-SYM, the Singapore model, and key data for UPSC Prelims and Mains.

The Reserve Bank of India has introduced the concept of Specified Non-Financial Assets (SNFA) — immovable properties that banks acquire when borrowers default — through amendments to its Resolution of Stressed Assets Directions, 2025. The new framework bars banks, small finance banks, and NBFCs from selling such assets back to the defaulting borrower or its related parties, mandates disposal primarily through public auctions on SARFAESI Act principles, and prescribes conservative valuation norms. This article explains what SNFAs are, the full framework of acquisition, valuation, and disposal, the NPA and SARFAESI background, the statutory basis in the Banking Regulation Act, and why these norms matter — from the UPSC Prelims and Mains perspective.

The Reserve Bank of India has revived a 2013-style FCNR(B) swap facility to attract foreign currency deposits from non-resident Indians, support dollar inflows and reduce pressure on the rupee. The move comes amid external-sector concerns, including rupee volatility, global uncertainty and the need to strengthen India’s Balance of Payments position.