UPSC CURRENT AFFAIRS – 1 JULY 2026

The current affairs article highlights major governance, economy, and technology reforms in India. It discusses the federal fiscal mismatch, where states face high expenditure responsibilities but limited revenue powers, stressing the need for better tax devolution and cheaper borrowing. It covers NITI Aayog's tourism report, recommending regulatory reforms to boost investment and employment. The article …

The RBI Scam Compensation Framework

Source: THSubject: Economy Context: The Reserve Bank of India (RBI) has issued final amendments to its Limiting Customer Liability in Digital Transactions framework. Effective January 1, 2027, the one-year pilot expands protection against social engineering scams and introduces monetary compensation for victims of small-value digital fraud. The RBI Scam Compensation Framework About The RBI Scam …