RBI Grade B Current Affairs — 9 August 2026

SEBI reported unclaimed mutual fund dividends rose 15.7% to Rs 2,689 crore in FY2025-26, while unclaimed redemption proceeds declined marginally by 0.5%. SEBI mandates that unclaimed amounts in mutual funds be deployed in money market instruments and the returns used for investor education. After three years, unclaimed amounts are transferred to the Investor Education and Protection Fund. This data highlights persistent investor awareness gaps in tracking dividends and redemption payouts from mutual fund investments.

Unclaimed amounts in mutual funds arise when investors fail to update contact or bank details, rendering dividend payouts or redemption proceeds undeliverable. SEBI's regulatory framework addresses this through a structured mechanism: unclaimed dividend and redemption amounts must be invested in money market instruments by the AMC, and the returns generated are channelled into investor education initiatives. Investors can reclaim their principal at the original NAV applicable at the time the amount became unclaimed — meaning no growth accrues to the investor after that point.

After three years of non-claim, the amount is transferred to the Investor Education and Protection Fund (IEPF), from which recovery becomes significantly more cumbersome. This parallels the treatment of unclaimed deposits in banks and unclaimed shares under the Companies Act.

The 15.7% rise in unclaimed dividends (now called 'Income Distribution cum Capital Withdrawal' or IDCW payouts post-SEBI's 2021 nomenclature change) signals that despite digital KYC norms, a significant investor base remains passive. SEBI's annual reporting of these figures serves both as a transparency measure and a compliance signal to AMCs to intensify investor outreach. The slight decline in unclaimed redemption proceeds suggests some improvement in settlement efficiency. For exam purposes, the regulatory chain — AMC → money market → investor education → IEPF after 3 years — is the core testable mechanism.

A recent report highlights India and Russia forging a deeper, more sustainable strategic partnership amid global geopolitical flux. Key pillars include energy trade — India is now among Russia's top crude oil buyers — defence cooperation under long-standing frameworks, and expanding bilateral trade settled in national currencies bypassing dollar-dominated systems. The partnership is framed under the Special and Privileged Strategic Partnership established in 2010, navigating pressures from Western sanctions on Russia following the 2022 Ukraine conflict.

India-Russia relations rest on a decades-long foundation that predates independence — the USSR supported India during the 1971 Bangladesh Liberation War and provided diplomatic cover at the UN Security Council. The formal upgrade to 'Special and Privileged Strategic Partnership' occurred in 2010 under the Annual Summit mechanism.

The current phase is defined by three exam-relevant dimensions:

1. ENERGY TRADE: Post-2022 Ukraine war, India emerged as Russia's largest or second-largest crude oil buyer (displacing Europe), purchasing discounted Urals crude — a critical fact for both UPSC (foreign policy) and RBI (balance of payments, current account).

2. TRADE SETTLEMENT IN RUPEES: India and Russia have been negotiating rupee-rouble trade settlement to reduce dollar dependency. This connects to RBI's framework on international trade settlements in Indian rupees (RBI circular July 2022) and India's push for currency internationalisation.

3. DEFENCE: India's S-400 missile system procurement from Russia, despite US CAATSA (Countering America's Adversaries Through Sanctions Act) pressure, exemplifies India's 'strategic autonomy' doctrine — a recurring UPSC theme.

The geopolitical subtext is India maintaining 'multi-alignment' — engaging Russia, the US, and China on its own terms — which the UPSC has tested repeatedly as India's foreign policy doctrine.

India and the African Union are resuming talks to schedule the fourth India-Africa Forum Summit (IAFS-4), delayed since its originally planned 2023 date. The summit framework covers trade, development cooperation, and geopolitical alignment. India-Africa bilateral trade stood at approximately $98 billion in 2022-23. Africa's inclusion in the G20 as the African Union — backed by India during its G20 Presidency — added new diplomatic weight. IAFS-4 will address food security, digital infrastructure, and South-South cooperation priorities.

The India-Africa Forum Summit (IAFS) is India's primary multilateral engagement platform with the African continent. Launched in 2008, IAFS has held three editions: IAFS-1 (New Delhi, 2008), IAFS-2 (Addis Ababa, 2011), and IAFS-3 (New Delhi, 2015), the last of which was the largest African diplomatic gathering on Indian soil with 54 nations and 41 heads of state attending. IAFS-3 committed $600 million in grant assistance and $10 billion in concessional Lines of Credit over five years.

The African Union (AU), established in 2002 replacing the Organisation of African Unity (OAU, est. 1963), now has 55 member states. India's diplomatic push to include the AU as a permanent G20 member during the 2023 New Delhi Summit was a landmark move, elevating the AU from observer to full member — comparable to the EU's position in the G20.

For NABARD aspirants, Africa's importance in India's food security diplomacy is critical: fertiliser imports, pulses, and agricultural inputs tie Indian farm economics to African supply chains. For RBI aspirants, the Rupee Trade Settlement mechanism and India's push to use UPI in African nations are financial architecture questions. IAFS-4 is expected to deepen Lines of Credit, digital public infrastructure exports, and defence cooperation — all exam-testable outcome categories.