Banking and Financial

News
4-MARCH-2025
Amazon’s cloud business to invest $8.2 billion in Maharashtra
• Amazon Cloud Services provider, Amazon web services, will invest about
$8.2billion in India’s western state of Maharashtra over the next few years - IT
Ministry.
• According to a report by International Data Corporation, the country’s cloud
services market estimated at $8.3 billion in 2023 is expected to grow to $24.2
billion by 2028.
IRCTC & IRFC upgraded to Navratna status
• The Government has approved the upgrade of IRCTC and IRFC to Navratna
Central Public Enterprises (CPSE) - Official Statement.
• Indian Railway Catering Tourism Corporation (IRCTC) and Indian Railway
Finance Corporation (IRFC) are a ministry of railways CPSE.
• As of March 2025, India has 26 Navratna Central Public Sector Enterprises
(CPSE).
India’s GDP to grow at 6.5% in FY26 – CRISIL
• India’s Economic Growth is likely to be steady at 6.5% in FY26.
• Private Consumption is expected to recover further, while investment growth
hinges on private capex.
• Emerging global risks from potential US tariff hikes are a downside risk for
domestic growth.
• The tax benefits announced in the Union Budget 2025-2026 and increased
allocations towards key asset and employment generating schemes are expected
to support consumption.
Annual Power Demand Growth likely to be 6.3% till 2027 - IEA
• India’s Electricity Demand is expected to grow at an average 6.3% annually
over the next 3 years, stronger than the 2015-2024 average growth rate of 5%,
as per the forecast by the International Energy Agency (IEA).
• Over the forecast period, the country is also expected to continue recording
strong growth in electricity consumption, and will account for 10% of the total
increase in global demand by 2027.
• IEA highlighted that raising Air Conditioner (AC) ownership will continue to
bolster electricity demand growth.
EV Loan - Banks seek priority sector tag
• To Boost Electric Vehicle (EV) financing, banks have suggested that the
government nudge the Reserve Bank of India (RBI) to grant the priority sector
tag to retail EV loans and reduce the risk weightage on such loans.
• A reduction in risk weightage from 100% to a lower threshold would also free
up banks capital for other productive purposes.
• With growing EV adoption, Niti Aayog had estimated in 2022 that around
Rs45,000 - Rs55,000 crore will be required to finance EV purchases by 2026.
• Under the PSL rules, a banking entity needs to lend 40% of the adjusted net
bank credit to the so called priority sector or economically weaker sections such
as agriculture, micro enterprises, and other economically disadvantages
sections.
• RBI’s PSL mandate has a proven track record of improving the supply of
formal credit towards areas of national priority.
• For the priority sector tag, RBI should consider various EV segments and use
cases based on 5 parameters:
1. Socio-economic potential
2. Livelihood generation potential
3. Scalability
4. Techo-economic viability
5. Stake holder acceptability
• There are concerns that buyers are unable to access low interest rates and long
loan tenures for EVs as banks are concerned about resale value and product
quality.
• Currently, the financing options available in the market are limited with
unfavorable terms.
PM focus at Wildlife board meet - Counting of Asiatic Lions
• Prime Minister Narendra Modi chaired his first meeting of the National Board
for Wildlife (NBWL) at Gir National Park in Gujarat.
• In this event he announced the initiation of the Asiatic Lion population
estimation exercise in May, new initiatives including a conservation programme
for the critically endangered Gharials and a center to steer management of
human-wildlife conflict, and reviewed the government’s flagship wildlife
conservation programme like Project Lion and Project Cheetah.
• This was the 7th meeting of the NBWL, the apex body on wildlife
conservation ad development. The last full body NBWL, with its 47 members
including Chief of Army staff was held on September 5, 2012, and was chaired
by PM Manmohan Singh.
• Further, the wildlife board approved Rs2,900 crore for various conservation
works under Project Lion for the next 10 years, and announced a National Great
Indian Bustard Conservation Plan as well as a scheme for onservation of tiger
reserves.
• Under Project Lion, the government aims to increase the range of Asiatic
Lions throughout the Saurashtra region.
• Under Project Cheetah, the wildlife board decided to expand introduction of
Cheetahs to Gandhi Sagar wildlife sanctuary in Madhya Pradesh and Banni
Grassland in Gujarat.
• Prime Minister also released the report on the first-ever riverine dolphine
estimation conducted in the country, which revealed that there are 6,327
riverline dolphins across the Ganga, Brahmaputra and Indus river basins.
India Mobile Congress to be held from October 8-11
• The 9th Edition of the India Mobile Congress (IMC), Asia’s largest digital
technology forum, is set to take place in New Delhi from October 8-11, 2025-
Communication Minister Jyotiraditya Scindia.
• IMC 2025 will serve as a global platform for industry leaders, policymakers,
and technology enthusiasts to explore the future of connectivity, sustainability
and innovation.
• This event organised by the Department of Telecommunications (DoT) and the
Cellular Association of India (COAI).
• The 2025 edition will focus on “Innovations across 5G & 6G, AI,
Semiconductors, Electronics Manufacturing, Quantum Computing,
Cybersecurity, Satellite Communications, Deep-tech, Clean-tech, Smart
Mobility, Industry 4.O and Enterprise transformation”.
Adani Green Energy Raises $1.06 billion for Debt Refinance
• Adani Green Energy Limited (AGEL’s)said it has refinanced its maiden
construction facility, with outstanding of $1.06 billion taken in 2021, to develop
a solar-wind hybrid renewable cluster in Rajasthan.
• The long-term financing has door to door tenure of 19 years with fully
amortised debt structure emulating the underlying asset life.
• The refinance facility has received a rating of AA+/ Stable from three
demestic rating firms -India Ratings and CareEdge Ratings (Icra).
• Last week, AGEL’s said it has surpassed a record 12,000 megawatt (MW) of
operational portfolio, the first and only renewable energy company in the
country to achieve the feat.
Having empathy for distressed small business important - RBI Deputy
Governor
• Reserve Bank of India Deputy Governor Swaminathan said that showing
empathy towards distressed borrowers from small businesses is important for
lenders.
• Addressing the 29th meeting of the Standing Advisory Committee (SAC) to
review the flow of credit to the micro, small and medium enterprises (MSME)
sector in Ahmedabad.
• He said small businesses play a pivotal role in the economic development.
RBI’s record forward dollar position undermines forex reserves comfort
• The Reserve Bank of India’s record short US dollar forward position, built
over months to support the rupee amid equity outflows and US trade policy
worries, is diminishing the comfort offered by its large forex reserves.
• The RBI’s net short dollar position in forwards and futures hit a record high of
$77.5 billion in January 2025.
• From October to January, the RBI’s forward dollar sales position increased by
more than $60 billion. Meanwhile, India’s forex reserves declined from an all
time high of nearly $705 billion in late september to $640 billion.
Women borrowers grow 22% since 2019
• Women borrowers in India have grown at a compounded growth rate of 22%
over the last 5 years with majority of them from Semi-urban and rural areas,
who are also actively monitoring their cedit scores.
• The report titles “From Borrowers to Builders : Women’s Role in India’s
Financial Growth Story “, released by NITI Aayog CEO B V R Subrahmanyam.
• The report has been published by TransUnion CIBIL, Women
Entrepreneurship Platform (WEP) of NITI Aayog and MicroSave Consulting
(MSC).
Alpex Solar bags Rs211 crore solar module order from SECI
• Renewable Energy player Alpex Solar said it has secured in order worth
Rs210.71 crore from state owned Solar Energy Corporation of India (SECI).
• The project awarded by SECI is for the supply of advanced Solar Photovoltic
(PV) module.
• The newly secured order will be fulfilled through its manufacturing facility in
Greater Noida, which has recently expanded to 1.2 GW Capacity.
• Alpex Solar Ltd Headquarter located in Greater Noida (Uttar Pradesh).
IEX reports 9% rise in trade volumes to 9,622 million units in February
• Indian Energy Exchange (IEX) has registered a 9% year-on-year (y-o-y) rise
in trade volumes to 9,622 million units in February compared to the year-ago
period.
• A total of 16.37 lakh renewable energy certificates were traded during the
month, making a 167% y-o-y increase.

EaseMy Trip CEO named CII Delhi Chair

• EaseMy Trip CEO & Co founder Rikant Pittie has been appointed as chairman
of the Confederation of Indian Industry (CII) Delhi State for 2025-26.
Coal India targets 788 Million Tonne Production
• Coal India is expecting production of 788 Million Tonne (MT) and an offtake
of 756 MT for the current fiscal year ending March 2025 - Chairman PM
Prasad.
• The initial production target was 838 MT.
Race to Secure Copper
• The Government announced the securing of a 9,000 -sq-km block to explore
Copper and Cobalt in a region in Zambia known for high grade deposits.
• With production in domestic mines faltering, the project is a crucial step for
India to establish overseas mining operations.
• Bloomberg Reported that with supply of Copper Ore tightening, China is
moving to rein in smelting overcapacity - companies looking to build new
smelters must secure long term contract with copper mines, many of which are
in the Democratic Republic of Congo (DRC), Chile, and Peru.
• China controls half of the world’s smelting and refining capacity.
• With the demand for Copper, led by Electric Vehicle (EV), Batteries and Clean
Energy Technologies, Projected to outstrip supply from mines by 2035,
countries such as India, China and the US are scrambling to secure supply chins
and strengthen domestic capabilities.
• Copper is listed as a critical mineral in India. Domestic Ore production in
2023- 24, was 3.78 million tonnes (mt), 8% lower than in 2018-19.
• To meet demand in the short term, India has been looking to secure both
greenfield and brownfield mineral assets in copper-rich countries such as
Zambia, Chile and DRC.
• Deposits in these countries are typically a higher grade than in India - and
because of their extensive focus on mining, projects could develop faster.
• However, investments in overseas mineral assets carry significant geopolitical
risks.
• The risk share of Africa in the production of critical minerals such as copper,
lithium and natural graphite is rising.
• The Continent already accounts for 70% of global cobalt production and 16%
of global copper production.
• The DRC is on course to become the world’s second largest copper supplier by
2030 - The International Energy Agency (IEA).
CUB and CSK tie up for co-branded Credit Card
• City Union Bank said it has partnered with Chennai Super Kings to launch a
Co- branded Credit Card.
• The “City Union Bank - Chennai Super Kings Credit Card” will feature CSK’s
signature yellow theme and lion mascot.
• Cardholders will earn rewards on every purchase.
Banking and Financial
News
5-MARCH-2025
Need a relook at trade and industrial policies – DGFT
• India should have a comprehensive relook at its trade and industrial policies,
as competitors and developed countries re-evaluate their strategies, to achieve
an aspirational target of $2 trillion exports - Santosh Kumar Sarangi, Director
General of Foreign Trade.
• The export window is narrowing as most advanced nations have developed
their own aggressive policies like the US has its Inflation Reduction Act, CHIPS
Act.
• The UK had its Advanced Manufacturing Plan and the EU has its green deal.
Another reason he said, is that the share of manufacturing in India’s GDP has
stayed stagnant around 13-14% in the last 5 years and the sector lacks
competitiveness.
Jio, AMD, Cisco, Nokia partner to build Open Telecom AI Platform
• Jio platform has partnered with technology companies AMD, Cisco, and
Nokia to build an Open Telecom AI Platform to enhance network security and
efficiency, while reducing technology costs.
• The Platform will use a combination of different AI technologies, including
large language models and smaller, specialised models for telecom tasks, to
optimise network performance, security, and reduce costs.
Job opportunities for women surge by 48% in 2025
• India’s Job market is witnessing a significant transormation, with opportunities
for women increasing by 48% in 2025 compared to the previous year.
• The report identifies key industries - IT, Banking, Financial Services and
Insurance (BFSI), Manufacturing, and Healthcare - as primary drivers of this
growth, alongside a rising demand for specialised talent in emerging technology
roles.
• Women with up to 3 years of experience accout for 53% of job opportunities,
followed by 32% for those with 4-6 years of experience.
Jio Finance to buy SBI’s Stake in Payments Bank for Rs105 Crore
• Jio Financial Services said it will acquire the entire stack of State Bank of
India (SBI) in Jio Payment Bank for Rs104.54 Crore.
• Jio Financial currently holds an 82.17% stake in Jio Payments Bank (JPBL), a
joint venture of the company and SBI.
• In a regulatory filling, Jio Financial Services said its board approved
acquisition of a little more than 79 million equity shares of JPBL from SBI for
Rs104.54 crore.
Govt steadfast on easing regulatory burden - Finance Minister
• A Robust manufacturing sector free from unnecessary regulatory bottlenecks
will further attract both domestic and foreign investments, driving economic
growth and positioning India as a trusted global player - Finance Minister said
at Post Budget Webinar.
• She said our government has removed over 42,000 compliances and
decriminalised over 3,700 legal provisions since 2014.
• In Jan Vishwas Act, 2023, more than 118 legal provisions were
[Link] government plans to decreminalise over 100 provisions in
various laws the Jan Vishwas Bill 2.O to further simplify process for business.
• The Finance Minister said the pathway for reforms is complemented by the
government’s unwavering focus on capital expenditure as a driver of economic
growth.
• For 2025-26, the total effective capex is proposed at Rs15.48 lakh crore, which
is 4.3% of GDP, with Rs11.21 lakh crore allocated as crore capex by the Centre,
which is 3.1% of GDP.
Indian diaspora’s investments in GIFT City funds cross $7 billion
• Investment by the Indian diaspora in GIFT City-based funds have crossed Rs7
billion, a top official from the International Financial Services Centres
Authority.
• Over Rs129 billion were remitted by the Non-Resident Indians (NRIs) and
people of Indian origin to the homeland in 2024.
• As of now, about 5,000 NRIs have invested about nearly a billion and a half in
various products. They have also invested close to Rs7 billion in the fund eco
system.
• Asset Under Management for the 30 banks in GIFT City, including 15
international banks, have crossed Rs78 billion.
• IFSCA executive said there are 33 aircraft leasing firms registered in the GIFT
city and 198 aviation assets leasing have been done till date.
NaBFID for higher credit enhancement cap of 50%
• The National Bank for Financing Infrastructure and Development (NaBFID)
has sought the RBI’s nod to increase the exposure limit under the partial credit
enhancement facility to 50% of the bond issue size.
• As per existing norms, credit enhancement can be provided by the financial
institutions for only up to 20% of the bond issue size.
• The objective behind partial credit enhancement facility is to enhance the
credit rating of the bonds issued so as to enable corporates to access the funds
from the bond market on better terms.
• NaBFID has also requested the Reserve Bank of India (RBI) to reduce risk
weight requirements. As per current norms, even if an entity is providing credit
enhancement for 20% of the bond size, the exposure of the gurateeing entity
will be treated for the entire 100% bond size.
• NaBFID has requested the RBI to keep risk weights equal to the level of
exposure of the guaranteeing entity.
Auto parts industry eyeing $100 billion exports in 7-8 years
• India’s Auto component industry is expecting $100 billion in exports over the
next 7-8 years, according to a report by Boston Consulting Group.
• The Country’s auto component exports reached $21.2 billion inFY24, marking
a significant turnaround from a $2.5 billion deficit in FY19.
Danfoss Power to invest Rs1000 crore in new Pune Plant
• Danfoss Power Solutions, a supplier of industrial hydraulics and electric
powertrain system, has broken ground on a 7 acre green field plant in Talegaon,
Pune.
• The Talegaon campus will be Danfoss 7th manufacturing facility in the
country.
NSE changes Expiry day of weekly derivatives contracts
• The National Stock Exchange (NSE) said all Nifty index weekly derrivatives
contracts will expire on Monday instead of Thursday with effect from April 4.
• BANKNIFTY monthly & quarterly contract new expiry is Last Monday of
expiry month. (Last Thursday of Expiry Month - Old Expiry)
• FINNIFTY, MIDCAPNIFTY and NIFTYNXT 50 monthly contracts new
expiry is Last Monday of expiry month. (Last Thursday of Expiry Month - Old
Expiry)
Insurance Dekho raises $70 million in funding round
• Insurtech Firm Insurance Dekho has raised $70 million in a funding ground,
colled by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group
(MUFG) and insurer BNP Paribas Cardif.
Bank of India opens 111 branches
• Bank of India has opened 111 branches, talking its pan-India network to 5,301.
• This expansion strengthens our presence in key urban and semi-urban centres,
bringing banking services closer to our customers.

Muthoot Capital Services raises Rs98.75 crore

• Muthoot Capital Services said it has completed a securitisation transaction,
raising an amount of Rs98.75 crore in three trenches by assignment of loan
receivable aggregating to Rs105.06 crore.
• This is the 5th securitisation/direct assignment transaction carried out by the
company during FY 2024-2025.
Amravati airport to begin operations soon
• The Maharashtra Airport Development Company (MADC) has said operations
at Amaravati Airport will commence shortly.
• Alliance Air will link Amravati to Mumbai with an ATR-72 aircraft under the
regional connectivity scheme.
Samco Mutual launches Large Cap Fund
• Samco Asset Management Company has launched Samco Large Cap Fund, an
open-ended equity scheme focused on investing in large cap stocks.
• The fund aims to deliver long-term capital appreciation by building a
diversified portfolio of the top 100 large cap campanies.