Issue: 1196
· Government Allows Selected
Banks to Import Gold (till 2029).
· Separate fraud probe
involving IDFC First Bank & AU SFB continues.
· Central banks (US, UK, EU)
ran a “Lehman-style bank collapse war game”
· India Slips to 6th Largest
Economy (IMF Data) due to exchange rate effects despite strong real growth.
· Government received record Rs.78,438 crore dividend from CPSEs in FY26.
· Hormuz tensions led to
diversion/return of multiple oil tankers, impacting supply chain stability.
India to grow 6.8%-7.1% in
FY27, defies oil shock pressures: SBI Report: India is weathering the latest
oil shock and West Asia conflict from a "situation of strength," with
GDP projected at 6.8 per cent-7.1 per cent in FY27 despite global headwinds,
SBI Research said in its latest report. Historically, every major oil shock
pushed the US economy into recession. This time looks different, the report
argued. "Unlike during earlier oil shocks, US households are receiving
substantial tax refunds, and the US is energy self-sufficient, in contrast to
earlier episodes. Thus, as an oil exporter, the US now keeps higher energy
spending at home when prices rise."
(Business Line)
MDBs to deepen collaboration
to support nations amid heightened global uncertainty: Multilateral Development Banks
(MDBs) have underscored the importance of close cooperation to support
stability, safeguarding development progress, and responding to mounting
pressures on their member economies amid heightened global uncertainty,
including in West Asia. "MDBs are working more
closely than ever to support our members and clients through a complex and
evolving global environment. By combining our financial strength, knowledge,
and partnerships, we are helping countries manage immediate pressures while
building resilience for the future," ADB president Masato Kanda said.
(Business Line)
IMF, World Bank meetings
show limits in mitigating shocks, reliance on US: Global finance leaders,
whipsawed by West Asia war news, came to grips this past week with their
inability to mitigate the economic damage from increasingly frequent
geopolitical shocks, and a realization that â counting on U.S. leadership to
resolve crises is no longer the guarantee it had long been. At International
Monetary Fund and World Bank Spring Meetings in Washington, participants swung
from gloom over a worsening global economic outlook due to deepening energy
price and supply shocks to tentative optimism as it appeared Iran may reopen
the Strait of Hormuz and allow flows of oil, gas, fertilizer and other
commodities to resume. The IMF and the World Bank
pledged up to a combined $150 billion in new financing assistance for
developing countries hit hardest by the massive energy price shock, and
celebrated their re-engagement with Venezuela's acting government after a
seven-year pause.
(Business Standard)
HDFC Bank Q4 results: Net
profit rises 9% to Rs 19,221 crore, declares Rs 13 final dividend: HDFC Bank on April 18 reported
9% rise in standalone net profit at Rs 19,221 crore for the quarter ended March
31 ,2026, as compared to Rs 17,616 crore in the year-ago period. The
Bank's net revenue grew by 5% to Rs 46,280 crore for the quarter ended March
31, 2026 from Rs 44,090 crore for the quarter ended March 31, 2025. Net
interest income for the quarter ended March 31 grew by 3.2% to Rs 33,080 crore
from Rs 32,070 crore for the quarter ended March 31, 2025. Gross
NPAs were at 1.15% of gross advances as on March 31, 2026, as against 1.24% as
on December 31, 2025, and 1.33% as on March 31, 2025. Net non-performing assets
were at 0.38% of net advances as on March 31, 2026,". The
Bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at
19.7% as on March 31, 2026 (19.6% as on March 31, 2025) as against a regulatory
requirement of 11.9%.
(Moneycontrol)
ICICI Bank Q4 results: Net
profit rises 8.5% to Rs 13,702 crore: Private lender ICICI Bank on
April 18 reported 8.5% increase in standalone net profit at Rs 13,702 crore for
the quarter ended March 31, 2026 compared Rs 12,629.58 crore in the
previous year. Asset quality, too, for the
lender remained quite strong this quarter. Gross NPA improved to 1.40% from
1.67% year-on-year translating to a 27 basis point improvement, and from 1.53%
in Q3 FY26, a sequential improvement of 13 basis points. Net NPA improved to
0.33% from 0.39% a year earlier and from 0.37% in Q3, marking both annual and
sequential improvements.
(Moneycontrol)
Reappointment to top HDFC
posts soon: HDFC
Bank on Saturday said the reappointment processes for both Chairman Keki Mistry
and Managing Director & CEO Sashidhar Jagdishan are underway, with the
nomination and remuneration committee (NRC) and the board “seized of the
matter”. Jagdishan’s term ends in October this year, while Mistry has received
a temporary three-month extension from the Reserve Bank of India post the
resignation of part-time chairman Atanu Chakraborty in March.
(Financial Express)
Industrial
credit growth seen at 9-13% in Jan-June: Ficci-IBA survey: The Indian banking sector is likely to
see 9-13 per cent industrial credit growth in the January-June period of 2026,
according to the Federation of Indian Chambers of Commerce and Industry-Indian
Banks’ Association (Ficci-IBA) survey. However, industrial credit is not
expected to see sharp acceleration. Instead, there will be a steady and gradual
expansion, likely to be supported by the ongoing revival in capital
expenditure, infrastructure push, and sectoral demand recovery. Out of the
different banks, the industrial credit of small finance banks and cooperative
banks largely are expected to have around 7-9 per cent credit growth.
Public-sector banks display stronger confidence, with expectations skewed
toward higher growth bands, reflecting optimism anchored by improved asset
quality, strengthened capital buffers, and continued traction in corporate
lending, particularly amid signs of capex revival.
(Business Standard)
IFSCA cancels first
broker-dealer licence in GIFT City: In a significant escalation of its enforcement
drive, the International Financial Services Centres Authority (IFSCA) has
cancelled the broker-dealer registration of String AI IFSC Private Limited
(formerly King Blockchain), marking the first such licence revocation in GIFT
City. The cancellation order, passed on April 6, 2026,
follows a multi-year trail of non-compliance that began with surprise
inspections in 2024, escalated through repeated warnings, and culminated in a
formal show-cause notice (SCN) issued in December 2025.
(Moneycontrol)
FSSAI bans use of
ashwagandha leaves in supplements, flags safety concerns: India’s food regulator has barred the use of
ashwagandha leaves and their extracts in an attempt to tighten oversight of a
key ingredient in multiple wellness products, Mint reported on Saturday. The
market for ashwagandha is estimated at $928.5 million in 2026, with the larger
nutraceutical sector said to be worth about $38.77 billion and projected to hit
$84.99 billion by 2033, the report said. The Food Safety and Standards
Authority of India (FSSAI) has clarified that only the roots of ashwagandha and
their extracts are permitted for use in health supplements and related
products, directing states to take action against violations.
(Business Standard)
Four-line rail corridor
planned in Odisha to ease Howrah-Chennai congestion: Union Minister for Railways, I&B and
Electronics & IT Ashwini Vaishnaw on Sunday said a four-line railway
corridor along coastal Odisha from Balasore to Berhampur is being planned to
decongest the vital Howrah-Chennai main line and facilitate faster movement of
both passenger and freight trains. “This strategic project will boost
connectivity under East Coast Railway (ECoR) and play a crucial role in easing
congestion. Work has begun on several newly announced railway lines. These
initiatives will strengthen regional connectivity, support economic growth and
integrate Odisha more closely with national freight and passenger networks,” he
said.
(Business Standard)
India approves Rs.12,980
crore maritime insurance pool amid rising shipping risks: India has approved a Rs.12,980
crore ($1.4 billion) guarantee for a maritime insurance pool, a ?minister said
on Saturday, as wars and sanctions prompt ?insurers to withdraw cover,
threatening trade flows. The pool ?will run for 10 years and ?can be extended by a further
five years, Information and Broadcasting Minister Ashwini Vaishnaw said. “There
was a need for a ?domestic maritime risk covering pool to maintain sovereignty
and continuity of trade in face ?of withdrawal of coverage due to sanctions or ?due
?to geopolitical tensions,”
according to a statement ?issued by the government.
(Business Line)
Cabinet approves
Continuation of Pradhan Mantri Gram Sadak Yojana-III (PMGSY-III) upto March
2028:
The
Union Cabinet, has given its approval for the continuation of Pradhan Mantri
Gram Sadak Yojana-III (PMGSY-III) beyond March 2025 upto March 2028. It
involves consolidation of Through Routes and Major Rural Links connecting
habitations to Gramin Agricultural Markets (GrAMs), Higher Secondary Schools and
Hospitals. The revised outlay of the scheme will be Rs.83,977 crore. Extension
of timeline till March 2028 for completion of roads and bridges in plain areas
and roads in hilly areas. Extension of timeline till March 2029 for
completion of bridges in hilly areas.
(PiB)
Govt may hike
FDI limit in pension sector, Bill likely in Monsoon session: The government may hike the foreign
direct investment (FDI) limit in the pension sector to up to 100 per cent and a
Bill in this regard is expected in the next Parliament session, according to
sources. This would align with the insurance sector where up to 100 per cent
FDI is permitted. Last year, Parliament approved a Bill to increase the FDI
limit in the insurance sector from 74 per cent to 100 per cent. Prior
amendments of the Insurance Act, 1938 was done in 2015 following which the FDI
ceiling increased from 49 per cent to 74 per cent.
(Business Standard)
CLAWBACK
· A
clawback is a contractual provision requiring that money that's already paid to
an employee must be returned to an employer or benefactor, sometimes with a
penalty.
·
Many companies use clawback
policies in employee contracts for incentive-based pay such as bonuses. They're
most often used in the financial industry. Most clawback provisions are
non-negotiable. Clawbacks are typically used in response to misconduct, scandals,
poor performance, or a drop in company profits.
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)
Historical
events: April 20 in
history marks significant events, including Babur reaching Panipat in 1526,
setting the stage for Mughal rule in India, and the 1954 signing of the
Panchsheel Agreement between India and China. Globally, it is notable for the
birth of Adolf Hitler (1889), the 1902 discovery of radium by the Curies, and
the 2010 Deepwater Horizon oil spill.
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