Issue: 1169
· Banks accepted only Rs.
48,000 crore out of Rs.1.5 lakh crore offered by RBI as liquidity infusion.
· Union Bank to raise ?20,000
crore by long term bonds.
· Parliamentary panel
recommends scaling co-lending to bridge $530 billion MSME credit gap and reduce
borrowing costs.
· Banks losing share in
microfinance lending. NBFC-MFIs
now dominate new sourcing (44%), while banks’ share drops to ~25%.
· Adani Group announces ?2 lakh
crore annual investment plan.
· IIT Bombay to host Bharat
Innovates 2026 showcasing deep-tech startups and global collaboration.
CEA warns $130 crude could
cut India’s GDP growth by 1%: Chief Economic Advisor V
Anantha Nageswaran has told a parliamentary panel that if crude prices remain
at $130 a barrel for 2-3 quarters, GDP growth could be reduced by 100 bps. He
added that India can sustain its growth momentum if prices are around $90 a
barrel. The CEA made these remarks during an appearance before the Standing
Committee on Finance on March 2. The committee’s report was tabled on Tuesday.
Giving details of his deposition, the report said the CEA was asked how the
government plans to mitigate the “triple whammy” of surging crude prices,
market volatility, and maritime delays caused by the West Asian conflict.
(Business Line)
Funds mobilised by India
Inc via ECBs crossed $5 billion mark for the first time in current FY in Jan: Funds mobilised by India Inc
via ECB route vaulted over the $5 billion mark for the first time in the
current financial year in January 2026 amid marginal cost of funds-based
lending rate (MCLR) amid hardening domestic bond yields. Indian companies
mopped up $5.336 billion in January 2026 against $4.435 billion in December
2025, per RBI data.
(Business Line)
RBI injects Rs 48,014 crore
via 7-Day VRR auction as banking liquidity drops sharply after advance tax
outflows: The
Reserve Bank of India on Tuesday injected Rs 48,014 crore in transient
liquidity into the banking system through a seven-day variable rate repo (VRR)
auction. These funds were infused at a cut-off rate and weighted average rate
of 5.26 per cent, the bank said in a statement. The liquidity injected was much
lower than the notified amount of Rs 1.50 lakh crore, despite a sharp drop in
surplus liquidity in the banking system due to advance tax payments. Under
the VRR auction, the central bank auctions funds at variable interest rates for
a short period, allowing banks to bid for a certain amount. Liquidity in the
banking system is expected to tighten further after outflows to pay the goods
and services tax (GST), scheduled later this week.
(Financial Express)
Mastercard to
buy stablecoin infra firm BVNK for up to $1.8 billion: Mastercard said on Tuesday it would buy
stablecoin payments infrastructure firm BVNK for up to $1.8 billion, as the
card company deepens its push into blockchain-based transfers. Increasing
regulatory clarity and broader usage of stablecoins have created opportunities
for card networks to expand beyond traditional cards into faster, lower-cost
digital payment systems. Mastercard and rival Visa are competing to establish
an early lead in the fast-evolving segment. The deal includes $300 million in
contingent payments and is expected to close before the end of 2026.
(Moneycontrol)
Standard Chartered Bank
settles case with Sebi: Standard Chartered Bank has settled a case with
SEBI on alleged violation of foreign portfolio investor (FPI) norms. The bank
paid Rs.57.2 lakh without admission or denial of findings of the regulator. The
matter is related to various allegations raised by Sebi, where the lender had
acted as a designated depository participant and failed to make timely
disclosures about material changes in beneficial ownership of certain FPIs. Standard
Chartered Bank also delayed processing investor grouping changes to the
National Securities Depository, in certain cases 19-20 days, even after
receiving complete documents from FPIs, as per Sebi’s settlement order released
on Tuesday.
(Financial Express)
Jio Payments Bank
introduces UPI-based cash withdrawal services: Jio Payments Bank, a
wholly-owned subsidiary of Jio Financial Services, has introduced UPI-based
cash withdrawal through its business correspondent touchpoints, marking an
important step towards strengthening digital payments ecosystem and advancing
financial inclusion. The feature enables customers,
particularly in rural and semi-urban areas, to conveniently withdraw cash by
simply scanning a UPI QR code and authorising the transaction through their UPI
application, eliminating the need for debit cards or access to traditional ATM
infrastructure, Jio Financial Services Ltd (JFSL) said in a statement on
Tuesday.
(Economic Times)
Amid large FPI outflows
from equity, debt attracted inflows in FY26:
Foreign portfolio investor (FPI) flows into Indian
markets have remained divergent in the current financial year 2025-26 (FY26), with
equities facing sustained selling pressure even as the debt segment has managed
to retain modest inflows. So far in FY26, foreign investors have pulled out net Rs.1.37 trillion from equities, reflecting risk aversion amid geopolitical
tensions, and increased volatility in emerging market (EM) currencies. On the
other hand, the debt segment witnessed a net inflow of Rs.13,964 crore in the
same period, supported by relatively attractive domestic yields despite the
Reserve Bank of India’s (RBI’s) rate easing cycle coupled with rupee weakness.
(Business Standard)
State Bank of India raises
over Rs. 6,000 crore through Tier 2 bonds at 7.05%:
SBI, on Tuesday raised Rs 6,051 crore at a coupon
rate of 7.05 per cent through its second Basel III-compliant Tier 2 bond
issuance for the current financial year (FY26). The bonds are issued for a
tenor of 10 years, with a call option after five years and on each anniversary
date thereafter. The issue attracted a robust response from investors, with
bids of approximately two times against the base issue size of Rs 5,000 crore.
The total number of bids received was 47, indicating participation from a
diverse set of qualified institutional bidders.
(Business Standard)
MSMEs to account for nearly
half of India's e-commerce growth by 2030: McKinsey: India’s share of e-commerce as a percentage of
overall retail could increase from around 6 per cent to up to 11 per cent by
2030, and MSMEs will likely account for around half of this growth, according
to a report by global consulting firm McKinsey & Company. MSMEs form the
backbone of the retail ecosystem, collectively contributing close to US $1
trillion in value to the economy every year, which is roughly 30 per cent of
national GDP.
(Business Line)
SC urges Centre to enact
law recognising paternity leave as social security: The Supreme Court on Tuesday called on the
Union government to enact a legal framework recognising paternity leave as a
component of social security, stressing that caregiving responsibilities must
be shared between both parents. Any such policy must be calibrated to meet the
needs of the child as well as both parents, the apex court noted.
(Business Standard)
Odisha to take authentic
Odia cuisine nationwide via restaurant chain plan: Authentic Odia cuisine will soon get a
pan-India footprint, with the Odisha government unveiling an ambitious plan to
take the state’s rich culinary heritage beyond its borders and onto the
national palate through a chain of dedicated restaurants across major Indian
cities and tourist hubs. The Department of Tourism (DoT) has invited
expressions of interest (EOI) from entrepreneurs and hospitality operators to
set up and run “Odia Cuisine Restaurants” both within Odisha and outside the
state as part of a broader effort to boost gastronomy tourism and cultural
branding.
(Business Line)
India aims for universal
health insurance by 2033, says Finance Minister: Health insurance is a priority for this
government and it is expected that the country will have insurance for all by
2033, Finance Minister Nirmala Sitharaman said in the Rajya Sabha on Tuesday. Replying
to supplementary queries during Question Hour, she said the insurance sector is
expanding and during 2024-25 it covered 58 crore lives in the country. “Health
insurance is a priority for this government. In fact, we are hoping that by
2033 we will have insurance cover for all,” she said.
(Business Line)
Aadhaar eKYC required only
for pending LPG users, clarifies Government: The Ministry of Petroleum and
Natural Gas has clarified that Aadhaar-based biometric authentication (eKYC)
for LPG connections is not mandatory for all users, countering recent reports
that suggested otherwise. In an official statement, the ministry said the
requirement applies only to those consumers who have not yet completed the
authentication process. It added that the earlier communication was part of an
ongoing exercise to encourage pending users to finish Aadhaar verification.
(Financial Express)
Financial Inclusion of the
Persons with Disabilities: The Department of Financial
Services (DFS) has advised all Public Sector Banks, Insurance Companies and
other financial institutions to facilitate communication with persons with
hearing and speech impairments through the use of Indian Sign Language (ISL).
This is in order to create an inclusive and accessible environment for Persons
with disabilities (PwDs) and to ensure access to the financial services offered
by these institutions. Towards this end, organizations have been asked to use
technology-enabled communication tools including Artificial Intelligence and to
utilize the services of Volunteers from Civil Society Organizations catering to
the special needs of the PwDs including Sign Language Interpretation, whenever
required.
(PiB)
SAMPANN
· SAMPANN (System for Accounting and Management of Pension)
is an integrated, online pension management system for Department of Telecommunications
(DoT) pensioners, creating a single platform for processing, sanctioning and
disbursing pension directly to the bank account of pensioners. It also offers
online grievance redressal, digital profile management and transaction record,
enhancing transparency and efficiency for telecom retirees.
·
Further
advancing the Government’s vision of digital governance and paperless services,
important pension related documents i.e. Gratuity Payment Orders, Pension
Certificates/ePPOs, Pension Commutation Payment Orders and Form 16 are now made
available through DigiLocker. This integration enables pensioners to securely
access, store, and retrieve their official documents anytime and anywhere,
ensuring greater convenience, authenticity, and long-term digital preservation
of records.
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 : 92.4570
INR
/ 1 GBP : 122.8267
INR
/ 1 EUR : 106.0950
INR
/100 JPY: 57.9900
EQUITY INDEX
Sensex:
76070.84 (+567.99)
NIFTY:
23581.15 (+172.35)
Bnk NIFTY: 54876.00 (+462.60)
Ordnance
Factories Day in India: March 18 is
primarily celebrated as Ordnance Factories Day in India, marking the
establishment of the first ordnance factory in Cossipore, Kolkata, in 1801. It
is also globally recognized as Global Recycling Day to promote sustainable
practices and the conservation of resources.
Historical
events: March 18 marks
significant historical milestones, including Mahatma Gandhi being sentenced to
six years in prison for civil disobedience in 1922, the Azad Hind Fauj crossing
the Burma border into India in 1944, and the 1972 establishment of the first
Indian Book Fair. Globally, it marks the 1925 Tri-State Tornado and the 1937
Texas school explosion.
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