Issue: 1195
· INR recovered to around
92.9/USD, gaining ~2% from recent lows.
· India’s forex reserves rose
by $3.83 billion to $700.9 billion, strengthening external stability.
· LIC launched ‘MyLIC’ and
‘Super Sales Saathi’ apps to improve customer experience.
· Oil prices dropped sharply
after Strait of Hormuz reopening, easing inflation fears.
· Govt clarified: No RBI
guideline on exchange of discontinued notes.
Oil prices fall by over 10%
after Iran signals Hormuz reopening: Global oil markets and
equities staged a sharp turnaround on April 17 after Iran signalled a reopening
of the vital Strait of Hormuz, easing fears of prolonged supply disruptions. Oil
prices plunged more than 13% during the session, marking their steepest
reversal in over six weeks. US crude futures for May delivery dropped over 11%
to around $84 per barrel, while Brent crude for June delivery fell more than
10% to just under $89. The sharp correction comes after weeks of elevated
prices driven by escalating tensions in West Asia.
(Business Today)
Rupee rebounds 191 paise
against dollar, aided by RBI measures: The Rupee made a smart
recovery in the new financial year so far, gaining about 191 paise against the
US dollar. This has come on the back of RBI measures to counteract the
depreciation pressure it faced since the US-Israel axis launched air strikes
against Iran on February 28, 2026. The Indian currency closed about 28 paise
stronger on Friday at 92.9250 per dollar, against the previous close of 93.20.
Overall, it gained 81 paise against last Friday’s close of 93.73.
(Business Line)
Govt nets record Rs 78,438
cr from CPSE dividend in FY26: The Centre’s dividend receipts
from central public sector enterprises (CPSEs) have exceeded the budget target
by 10.5% to Rs 78,438 crore in FY26, the highest-ever annual receipt. In the
revised estimates for FY26, the government pegged CPSE dividend receipts at rs
71,000 crore, marginally higher than the budget estimate of Rs 69,000 crore,
signalling confidence in sustained profitability across key public sector
undertakings.
(Financial Express)
Govt allows SBI, HDFC, Axis
Bank & 12 others to import gold, silver until March 2029: In a relief for billion
importers, India on Friday authorised 15 banks to import both gold and silver,
and two banks to import only the yellow metal, for three years starting April
1, 2026. The authorisation from the DGFT
came more than 10 days after the Reserve Bank of India issued a list of
nominated banks on April 6. The delay in the notification led to banks halting
imports of these precious metals. The new authorization is valid
until March 31, 2029.
(Economic Times)
Banks' gross NPA's to stay
range-bound at 2.0-2.2 per cent by March 2027 despite West Asia risks: Crisil: Indian banks are likely to
keep asset quality under control over the next two years, with gross non-performing
assets (NPAs) projected at 2.0-2.2 per cent by March 2027, only a shade higher
than the estimated historic low of 2.0 per cent as of March 2026, according to
ratingas agency Crisil Ratings. The resilience will be led by strong corporate
balance sheets, even as the MSME segment faces pressure from the ongoing West
Asia conflict.
(Economic Times)
Ahana announces RBI
reporting solution for co-operative banks using its proprietary Data Model: Ahana introduces a new
solution for co-operative banks. It aims to simplify Reserve Bank of India
reporting. The system uses a special data model. This will reduce manual work
and errors. Banks can expect faster reporting cycles. Audit readiness will also
improve. The solution consolidates data for better accuracy and consistency.
(Economic Times)
Women
financially active but lack tailored advice, reveals HSBC report: Women are actively managing their wealth
but face a 'Fluency Gap' in financial guidance. A new HSBC report reveals
affluent women are intentional about finances from their 20s. However, fewer
than half feel supported by advisors. The study calls for personalized,
adaptable advice that evolves with women's changing life stages and priorities.
(Economic Times)
Indian refiners
pay for Iran oil in yuan via ICICI Bank, says report: Indian refiners are settling payments for
rare cargoes of Iranian oil purchased under a temporary US sanctions waiver
using Chinese yuan through Mumbai-based ICICI ?Bank, four sources with
knowledge of the matter said. Last month, Washington unveiled ?30-day waivers
on US sanctions for the purchase of Russian and Iranian oil at sea in ?an
attempt to ease prices that were driven up by the US-Israeli war on Iran.
Treasury Secretary Scott Bessent on Wednesday said the US would not renew the
waivers, with the exemption on Iranian oil set to lapse on Sunday.
(Economic Times)
Number of recognised
startups cross 2.23 lakh: The number of startups recognized by the
government increased by 51.6% on year to 55,200 in 2025-26, which is the
highest number recognised in a single year since the launch of the Startup
India initiative in 2016. Since inception, the number of recognized startups
has crossed 2.23 lakh as on 31st March 2026, generating more than 23.36 lakh
direct jobs. More than 1.07 lakh recognized startups have at least one woman
director or partner, accounting for approximately 48% of total recognized
startups, a statement by the Ministry of Commerce and Industry said. Startups
are now present across all States and Union Territories. Maharashtra,
Karnataka, Uttar Pradesh, Delhi and Gujarat have emerged as leading regions in
terms of the number of recognized startups and direct employment generation as
on 31st March 2026.
(Financial Express)
Markets log 2nd straight
week of gains amid easing West Asia tensions: Domestic equities extended their gains for a
second straight week on Friday as easing geopolitical concerns boosted global
risk sentiment. The Nifty 50 rose 0.65 per cent, or 157 points, to close at
24,354, while the BSE Sensex gained 0.65 per cent, or 505 points, to end at
78,494. Both indices rose more than 1.2 per cent for the week, after a sharp 6
per cent rally last week. Lower crude oil prices also supported risk appetite
in India, a major oil importer. Brent crude hovered around $95 per barrel
during domestic market hours but fell further after Iran declared the Strait of
Hormuz completely open to commercial traffic until the ceasefire between Israel
and Lebanon.
(Business Standard)
Gold imports rise 24% to
hit all-time high of $71.98 billion in 2025-26: The country's gold imports rose 24 per cent to
hit an all-time high of $71.98 billion in 2025-26 on account of high prices of
the precious metal, according to Commerce Ministry data. Gold imports stood at
$58 billion in 2024-25. It was $45.54 billion in 2023-24 and $35 billion in
2022-23. In volume terms, imports dipped 4.76 per cent to 721.03 tonnes. It was
757.09 tonnes in 2024-25. Similarly, silver imports jumped about 150 per cent
to $12 billion in the last fiscal due to higher prices. In volume terms, it
rose by 42 per cent to 7,334.96 tonnes in 25-26.
(Business Standard)
Govt proposes to cut the
number of company filings; plans to integrate MCA data with other regulatory
bodies: The
government has started a consultation process that will likely reduce the
number of forms to be filed by companies under the Companies Act besides
consolidating the forms with similar statutory purpose. The concept note from
the ministry of corporate affairs (MCA) also seeks public comments on building
a framework that will integrate the MCA data with other regulatory bodies such
as GSTN, CBDT, SEBI, banks, UIDAI and RBI to eliminate duplicate
cross-regulatory reporting by the companies. The note specifically seeks
stakeholder inputs to review the MCA filing architecture across the entire
corporate lifecycle, including entry, operations and exit.
(Financial Express)
MSME Ministry
Signs MoU with NICDC Logistics Data Services to Strengthen Data-Driven
Logistics Ecosystem: The Ministry of Micro, Small, and Medium
Enterprises (MSME) has signed a Memorandum of Understanding (MoU) with NICDC
Logistics Data Services Limited (NLDS), a digital and data arm of the National
Industrial Corridor Development Corporation (NICDC), to enhance logistics
efficiency and promote data-driven policymaking for the MSME sector. The
collaboration aims to establish a robust digital framework for seamless data
exchange between the Ministry of MSME and NLDS through API-based integration.
This initiative will enable the Ministry to leverage real-time logistics data,
facilitating informed decision-making and improving overall supply chain
efficiency for MSMEs.
(PiB)
EPFO shifts
recruitment to IBPS after NTA exit, eyes annual hiring cycle: The Employees’ Provident Fund
Organisation (EPFO) has roped in the Institute of Banking Personnel Selection
(IBPS) to conduct direct recruitment as it seeks to address an “acute shortage”
of staff, according to two people aware of the matter. The National Testing
Agency (NTA) informed EPFO in May 2025 that it would not continue conducting
its examinations, while the National Recruitment Agency (NRA) remains
non-operational, the people said. In this backdrop, EPFO has signed an MoU with
the Institute of Banking Personnel Selection (IBPS) to conduct direct
recruitment and departmental examinations for Group B and C posts.
(Business Standard)
NAGGING
· A
dark pattern practice due to which a user is disrupted and annoyed by repeated and persistent
interactions, in the form of requests, information, options, or interruptions,
to effectuate a transaction and make some
commercial gains, unless specifically permitted by the user.
·
For example; Repeatedly asking
the customer to enable non-essential cookies on website / mobile application
despite the customer having refused earlier. Inserting multiple dialogue boxes
(e.g., for seeking reviews) and asking the customer to mandatorily select an
option before allowing him / her to
leave the application / website.
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 : 92.7235
INR
/ 1 GBP : 125.2738
INR
/ 1 EUR : 109.1992
INR
/100 JPY: 58.1400
EQUITY INDEX
Sensex:
78493.54 (+504.86)
NIFTY:
24353.55 (+156.80)
Bnk NIFTY: 56565.70 (+479.30)
World Heritage
Day: April 18 is
celebrated annually as World Heritage Day (or the International Day for
Monuments and Sites) to promote awareness regarding the diversity of cultural
heritage and the efforts required to protect and conserve it. Announced by
ICOMOS in 1982 and approved by UNESCO in 1983, it highlights historical,
cultural, and natural significance.
Historical
events: Indian history
marks this date with the 1612 marriage of Shah Jahan to Mumtaz Mahal, the 1991
declaration of Kerala as India's first fully literate state, and the 1950
launch of the Bhoodan Movement by Vinoba Bhave. Key world events include the
1906 San Francisco earthquake and the 1949 independence of Ireland.
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