Issue: 1184
· IRDAI designatesLIC, GIC Re,
and New India Assurance as Domestic Systemically Important Insurers (D-SIIs)
for FY26.
· Income Tax Department
launched ‘Kar Saathi’ portal, an AI-based tax assistance system to simplify tax
filing and services.
· RBI likely to keep repo rate
around 5.25% in April MPC meeting.
· CII proposed 20-point policy
agenda for fiscal, financial and trade response.
· Bombay High Court ruled
5-year loan ban cannot apply after compromise settlement unless fraud is proven
in case of wilful defaulter and loan restructuring cases.
· Govt of India Floating Rate
Bond 2028 interest rate fixed at 6.17% for next six months (Apr–Oct 2026).
Moody's cuts India's FY27
GDP growth estimates to 6% amid West Asia conflict: Moody's Ratings has slashed
India's economic growth estimates for the current fiscal to 6 per cent from 6.8
per cent earlier, saying the ongoing conflict in West Asia will moderate growth
momentum and raise inflation risks. In its credit opinion report on India,
Moody's said prolonged disruptions, particularly LPG shipments due to the
conflict, would lead to near-term household shortages, higher fuel and
transport costs, and spillovers to food inflation through India’s reliance on
imported fertilisers. The region accounts for around 55 per cent of crude oil
imports and over 90 per cent of liquified petroleum gas (LPG) supplies to
India.
(Business Line)
CII asks Finance Ministry
for fiscal support amid West Asia crisis: A time-bound conflict-linked
emergency credit line guarantee scheme, similar to the one during Covid,
rationalisation of the tax and duty structure on energy inputs and extending
delivery timelines for central and state public sector undertaking (PSU) contracts
are some suggestions made to the finance ministry by the industry in light of
the ongoing West Asia war. The Confederation of Indian Industry (CII) has
suggested a 20-point policy agenda to the government. The industry body called
for a fiscal, financial and trade response to the current geopolitical
situation as micro, small and medium enterprises (MSMEs), exporters and
energy-intensive industries continue to bear the brunt of the crisis.
(Business Standard)
Result Preview: Banks
likely to deliver a steady Q4: The Indian banking sector is
expected to report a steady and resilient performance in Q4FY26 (Jan-Mar),
supported by healthy credit demand, stable asset quality, and improving
operating efficiencies. However, due to persistent macroeconomic uncertainties,
brokerages’ pre-earnings reports suggest the quarter will likely see limited
upside from margins and treasury income. Systemic credit growth remains robust
at around 13.5–13.8% year-on-year, driven by a consumption-led recovery and
sustained retail demand. In contrast, deposit growth continues to lag at around
10.8–11.5%, leading to an elevated credit-deposit (CD) ratio of nearly 83%.
(Financial Express)
HDFC Bank expects robust Q4
growth; deposits outpace advances: HDFC Bank, the country’s
largest private sector lender, expects to see double digit growth in its
advances and deposits in the final quarter of the financial year, according to
provisional data released by the bank on Saturday. It expects to see a loan
growth of 12% to Rs 29.60 lakh crore and the total deposits growing higher at
14.4% to Rs 31.05 lakh crore as on March 31. The credit-deposit ratio stands at
95.3%, in line with the bank’s earlier guidance. Managing director and chief
executive officer Sashidhar Jagdishan had indicated in the Q3FY26 analyst call
that the bank expects to remain in the 90–96% range in FY26 and move towards
85–90% in FY27.
(Financial Express)
Bandhan Bank reports higher
collection efficiency: Bandhan Bank reported a
collection efficiency of 98.9% for March, an improvement from December's 98.1%,
with assets under management growing 12.6% year-on-year. The bank's micro loan
portfolio saw its collection efficiency rise to 98.6%, while the non-micro loan
book improved to 99.3%. Loan and advances reached Rs 1.54 lakh crore by fiscal
year-end.
(Economic Times)
AU Small Finance
Bank logs higher deposit growth than gross loan expansion: AU Small Finance Bank's deposit growth
outpaced its gross loan portfolio expansion, bucking an industry trend. The
bank on Saturday reported a 22.8% year-on-year deposit growth to Rs 1.53 lakh
crore at the end of March while its gross loan portfolio, which includes securitised
loans, grew 21.3% year-on-year to Rs 1.40 lakh crore. Industry average till March 15 published
by Reserve Bank of India showed that bank credit grew by 13.8%, 300 basis
points more than the average deposit expansion.
(Economic Times)
US pharma tariff move may
disrupt Indian CDMOs via innovator pressure: United States (US) President Donald Trump’s
move to levy 100 per cent tariff on the import of patented pharmaceuticals and
associated pharma ingredients into America is expected to create market
uncertainty for Indian contract drug manufacturing organisations (CDMOs). According
to market analysis firm Nuvama, branded and patented pharmaceutical companies
that have not agreed to lower drug prices through Most Favoured Nation (MFN)
agreements will face 100 per cent tariffs. Similarly, companies that move
production to the US but do not sign an MFN agreement may also face a 20 per
cent tariff.
(Business Standard)
FPIs extend sell-off in
April, pull out ?19,837 crore in two sessions: Foreign investors continued to exit Indian
equities, withdrawing Rs 19,837 crore ( $2.1 billion) in the first two trading
sessions of April, weighed down by the West Asia conflict, rising crude oil
prices, and persistent rupee depreciation. This came following a record
withdrawal of Rs 1.17 trillion (about $12.7 billion) from domestic equities in
March, making it the worst monthly outflow. Before this, FPIs pumped in Rs
22,615 crore in February, the highest monthly inflow in 17 months. With the
latest withdrawals, total Foreign Portfolio Investors (FPIs) outflow has
reached Rs 1.5 trillion so far in 2026, according to NSDL data..
(Business Standard)
Jan Vishwas Bill can lead
to withdrawal of around 5 crore cases: The Jan Vishwas Bill 2.0 passed by Parliament
on Thursday can impact around 5 crore pending court cases involving minor
offences and the Commerce and Industry Ministry wants all the departments to
consider withdrawing them, a senior official said Friday. Jan Vishwas
(Amendment of Provisions) Bill, 2026 seeks to amend 79 Central Acts administered
by 23 Ministries to promote ease of doing business and ease of living. Through
the amendments the 784 provisions of various laws are being proposed to be
changed for decriminalising and rationalising about 1,000 minor offences to
further improve the business environment and check harassment of people.
(Financial Express)
Odisha makes
e-KYC mandatory for domestic LPG consumers to curb misuse: The Odisha government has made e-KYC
mandatory for domestic consumers to avail LPG cylinders from distributors, Food
Supply and Consumer Welfare Minister K C Patra said on Sunday. The move will
ensure that only genuine customers get LPG cylinders, he asserted. "We
have issued instructions to LPG distributors to provide cylinders to consumers
who have completed their e-KYC (know your customer)," Patra said. "We
have also stopped the illegal sale of 1 kg or 5 kg cooking gas cylinders in the
open market," he said. The minister said the Odisha government has taken
strong action against those indulging in black marketing of gas cylinders.
(Business Standard)
MIXED ECONOMIC SYSTEM
§
A
mixed economic system includes both private ownership and government
involvement.
§ Most modern economies, such as those in the United
States and much of Western Europe, operate under a mixed system.
§ In mixed economies, governments regulate markets,
provide public goods, and support social safety nets.
§ Mixed systems can help create stability and promote
social welfare, but they can also lead to inefficiencies and regulatory
challenges.
RBI KEY RATES
Repo
Rate: 5.25%
SDF:
5.00%
MSF
/Bank Rate: 5.50%
CRR:
3.00%
SLR:
18.00%
FOREX RATES (RBI REF. RATE)
INR
/ 1 USD : 93.2088
INR
/ 1 GBP : 123.1854
INR
/ 1 EUR : 107.4828
INR
/100 JPY: 58.4900
EQUITY INDEX
Sensex:
73319.55 (+185.23)
NIFTY:
22713.10 (+33.70)
Bnk NIFTY: 51548.75 (+100.10)
International Day
of Sport for Development and Peace: April 6 is
widely celebrated as the International Day of Sport for Development and Peace,
honoring the first modern Olympic Games in 1896. It is also celebrated as
National Carbonara Day, National Tartan Day, and National Student-Athlete Day.
In 2026, it is also observed as Easter Monday, a holiday following Easter
Sunday.
Historical
events: April 6 is a
significant date in history, marked by Mahatma Gandhi breaking the salt law in
Dandi (1930) to launch the Civil Disobedience Movement and the founding of the
Bharatiya Janata Party (BJP) in 1980. Globally, it marks the start of the
Rwandan genocide (1994) and the launch of the first modern Olympic Games in
1896.
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