SBI launches cybersecurity Centre of Excellence CyRIS.
Banking & Finance
📅 31 Oct 2026
State Bank of India inaugurated CyRIS, a specialised Cybersecurity Centre of Excellence, in Mumbai on October 27, 2026.
Key Highlights:
1. The centre will research threat intelligence and cyber defence.
2. Its specialised tracks cover digital forensics, malware analysis and ethical hacking.
3. It will also work on fraud analytics, AI security and quantum-safe technologies.
4. CyRIS will connect government bodies, regulators, financial institutions and fintech companies.
5. Academia and technology partners will contribute to collaborative research.
Additional Information:
1. The centre aims to strengthen digital protection and technical competence in finance.
2. SBI was established on July 1, 1955 and is headquartered in Mumbai.
PB Money receives SEBI Online Bond Platform Provider licence.
Banking & Finance
📅 31 Oct 2026
Investment platform PB Money received SEBI’s Online Bond Platform Provider licence on October 29, 2026.
Key Highlights:
1. PB Marketing and Consulting, a wholly owned PB Fintech subsidiary, operates the platform.
2. It is registered as an OBPP and debt-segment stockbroker with the NSE.
3. The platform partners with Paisabazaar for a unified bond-investment experience.
4. It supports KYC, onboarding, bond discovery, evaluation, ordering and payment coordination.
5. Retail users can access secondary-market bonds and debentures through the exchange.
Additional Information:
1. Bonds can be compared by yield, credit rating and investment amount.
2. SEBI became a statutory regulator under the SEBI Act, 1992.
CBIC issues streamlined GST registration guidelines.
Banking & Finance
📅 31 Oct 2026
CBIC issued new GST registration guidelines on October 26, 2026 with simpler documents and faster processing timelines.
Key Highlights:
1. Rule 14A applicants under the simplified mechanism can receive registration within three working days.
2. Applications with successful Aadhaar authentication are processed within seven working days.
3. Cases needing physical verification may take up to 30 days.
4. Fast-track treatment applies when intended monthly ITC transfer is not more than Rs.2.5 lakh.
5. Bank details are not mandatory at initial application but must be provided within 30 days of registration.
Additional Information:
1. Officers use Form GST REG-03 for clarification and applicants reply through REG-04.
2. GST was implemented in India on July 1, 2017.
PhonePe launches Tatkal NPS for micro retirement investments.
Banking & Finance
📅 31 Oct 2026
PhonePe launched Tatkal NPS with major banks on October 28, 2026 for instant paperless micro-investments in retirement savings.
Key Highlights:
1. Users can begin contributions with a minimum of Rs.250.
2. A one-time registration charge of Rs.100 plus 18% GST applies.
3. Indian citizens aged 18 to 85 years are eligible.
4. Applicants need PAN and an Aadhaar-linked bank account with completed KYC.
5. Existing PRAN holders cannot open another account through the service.
Additional Information:
1. PRAN is generated instantly using secure OTP-based bank KYC.
2. Partner banks include SBI, HDFC Bank, ICICI Bank and Axis Bank.
SBI Life launches Waiver of Premium rider.
Banking & Finance
📅 30 Oct 2026
SBI Life Insurance launched a Waiver of Premium rider on October 27, 2026 to maintain policy continuity after critical illness or disability.
Key Highlights:
1. The rider waives all future premiums after a covered contingency.
2. It covers accidental total permanent disability.
3. It covers 21 specified critical illnesses when proposer and life assured are the same.
4. When they differ, the proposer’s death, disability and specified illnesses are covered.
5. It is available with selected linked and non-linked individual life products.
Additional Information:
1. It may be chosen at policy inception or a later policy anniversary.
2. A minimum outstanding premium-payment term of five years is required.
SEBI allows margin relief against Early Pay-In of securities.
Banking & Finance
📅 30 Oct 2026
SEBI directed clearing corporations on October 22, 2026 to exempt members from margin collection on later trades after accepted Early Pay-In of securities.
Key Highlights:
1. The relief applies to clients with a net sell obligation in the cash segment.
2. Exemption is limited to the value of accepted EPI.
3. Eligible EPI is the lower of securities paid in and securities sold on the trade date.
4. Clearing corporations must calculate the benefit in real time.
5. If the sale position is squared off, the EPI benefit is removed.
Additional Information:
1. Trade-for-trade securities are excluded and remain on gross settlement.
2. SEBI became a statutory body under the SEBI Act, 1992.
RBI to implement tighter capital adequacy norms from April 2027.
Banking & Finance
📅 28 Oct 2026
RBI issued revised capital-adequacy and leverage-ratio norms on October 23, 2026 for implementation from April 1, 2027.
Key Highlights:
1. The framework aligns Indian banks with Basel III standards.
2. Domestic Systemically Important Banks must maintain a minimum 4% leverage ratio.
3. Other commercial banks must maintain at least 3.5%.
4. Banks will calculate capital and exposure measures at every quarter-end.
5. Exposure includes balance-sheet assets, derivatives, securities financing and off-balance-sheet commitments.
Additional Information:
1. The leverage ratio is a non-risk-based protection against excessive borrowing.
2. India’s D-SIBs include SBI, ICICI Bank and HDFC Bank.
RBI data centre and Cybersecurity Training Institute inaugurated in Odisha.
Banking & Finance
📅 28 Oct 2026
Prime Minister Narendra Modi inaugurated RBI’s data centre and Cybersecurity Training Institute near Bhubaneswar on October 25, 2026.
Key Highlights:
1. The facilities are at Info Valley-II in Jatni, Odisha.
2. The project cost was Rs.169 crore.
3. It occupies 18.55 acres of land.
4. Then RBI Governor Shaktikanta Das laid the foundation stone on March 22, 2023.
5. The data centre will host mission-critical payment and settlement systems.
Additional Information:
1. The institute will conduct cybersecurity research, training and capacity building.
2. RBI is India’s central bank and its payment systems support national financial stability.
NCDEX launches NDEX and FINNDEX equity benchmarks.
Banking & Finance
📅 27 Oct 2026
NCDEX expanded into equity benchmarks by launching NDEX and FINNDEX on October 22, 2026.
Key Highlights:
1. NDEX contains 20 large and liquid equities chosen from the top 60 NSE-listed companies.
2. FINNDEX tracks 15 financial-sector companies, excluding insurance.
3. Free-float market value and average daily traded value each carry 30% weight in selection.
4. Beta and volatility each carry 20% weight.
5. Both indices have a base value of 10,000 and January 2010 as base month.
Additional Information:
1. NCDEX owns the indices while NSE Indices calculates and maintains them.
2. NCDEX was established in 2003, is headquartered in Mumbai and is regulated by SEBI.
IICA signs MoU with Association of ARCs in India.
Banking & Finance
📅 26 Oct 2026
The Indian Institute of Corporate Affairs signed a five-year MoU with the Association of ARCs in India on October 22 to strengthen its Post Graduate Insolvency Programme.
Key Highlights:
1. ARC experts will help align curriculum with industry requirements.
2. Joint research will cover debt restructuring, financial markets and stressed assets.
3. The pact supports internships, placements and an annual conference.
4. A February 2027 conference will mark IBC@10 and SARFAESI@25.
5. The cooperation follows the 2022 Sudarshan Sen Committee recommendations.
Additional Information:
1. IICA was established in 2008 under the Ministry of Corporate Affairs.
2. Asset Reconstruction Companies buy bank NPAs and are registered and regulated by RBI.
PFRDA launches NPS Central portal for pension subscribers.
Banking & Finance
📅 24 Oct 2026
PFRDA launched NPS Central, a unified digital pension-services platform, on October 1, 2026 on the occasion of NPS Diwas.
Key Highlights:
1. Protean, KFintech and CAMS jointly developed and manage the portal.
2. Subscribers can log in with a registered mobile number and date of birth through OTP.
3. The platform supports AI-assisted onboarding with CKYC and DigiLocker integration.
4. It issues an electronic PRAN and links to Pension Sahayak for grievances.
5. New-subscriber onboarding charges on NPS Central are Nil.
Additional Information:
1. PFRDA is a statutory regulator under the PFRDA Act, 2013 and the Ministry of Finance.
2. NPS began for government employees in January 2004 and opened voluntarily to all citizens in May 2009.
SBI and NSE IFSC acquire stakes in CareEdge Global.
Banking & Finance
📅 23 Oct 2026
CareEdge Ratings agreed in October 2026 to sell a combined 19.8% stake in CareEdge Global IFSC Limited to SBI and NSE IFSC.
Key Highlights:
1. SBI will acquire 9.9% equity.
2. NSE IFSC will separately acquire 9.9%.
3. CARE Ratings will retain an 80.2% majority holding.
4. CGIL will no longer be a wholly owned CARE Ratings subsidiary.
5. The transaction is expected to close within two months.
Additional Information:
1. The CARE Ratings board approved partial divestment on November 12, 2025.
2. CareEdge Ratings was founded in 1993, is headquartered in Mumbai and is India’s second-largest rating agency.
SEBI revises closing auction and derivatives settlement framework.
Banking & Finance
📅 23 Oct 2026
SEBI revised the Closing Auction Session framework and derivatives settlement-price method on October 15, 2026.
Key Highlights:
1. The closing auction will run from 3:30 pm to 3:40 pm.
2. Stock and index derivatives will trade until 3:45 pm and cash post-close from 3:50 pm to 4:00 pm.
3. Main changes take effect on December 7, 2026.
4. Unexecuted limit and iceberg order transition starts February 8, 2027.
5. Expiring derivatives settlement uses the last 30 minutes’ volume-weighted average price.
Additional Information:
1. Cash security reference price uses the last 15 minutes’ VWAP.
2. SEBI became statutory under the SEBI Act, 1992 and is headquartered in Mumbai.
Canara HSBC Life launches USD-denominated Global Wealth Plan.
Banking & Finance
📅 23 Oct 2026
Canara HSBC Life Insurance launched the USD-denominated Global Wealth Plan through Policybazaar on October 19, 2026.
Key Highlights:
1. It is a non-participating individual unit-linked life insurance-cum-savings plan.
2. The GIFT City product targets Non-Resident Indian customers.
3. Investment choices include global equity, debt, gold and silver funds in US dollars.
4. Variants are Wealth, Wealth Plus and Wealth Forever.
5. Wealth Plus funds future premiums after the insured’s death, while Wealth Forever provides whole-life cover.
Additional Information:
1. The plan has zero allocation and administration charges plus loyalty additions and maturity boosters.
2. Canara HSBC Life was established in 2007 and is headquartered in Gurugram.
1 Finance receives India’s first MF Lite AMC approval.
Banking & Finance
📅 23 Oct 2026
SEBI granted in-principle approval to 1 Finance on October 19, 2026 to establish India’s first MF Lite Asset Management Company.
Key Highlights:
1. The new company will operate a passive-only mutual-fund business.
2. Products will be limited to index funds and exchange-traded funds.
3. Formal scheme launch is targeted for Q4 of FY2026-27, subject to final registration.
4. Mumbai-based 1 Finance manages more than Rs.17,000 crore in assets under advice.
5. The Marwadi Chandarana Group backs the firm.
Additional Information:
1. MF Lite lowers entry barriers, net-worth and compliance requirements for passive AMCs.
2. The framework excludes active funds where managers select securities.
RBI grants NOC for merger of REC into PFC.
Banking & Finance
📅 21 Oct 2026
The Reserve Bank of India granted a No Objection Certificate on October 15, 2026 for the proposed merger of REC Limited into Power Finance Corporation.
Key Highlights:
1. REC is the transferor and PFC the transferee company.
2. Their boards approved the merger on June 28, 2026.
3. The combined financing entity will have a loan book above Rs.11 lakh crore.
4. REC shareholders will receive 88 PFC shares for every 100 REC shares.
5. Deloitte Touche Tohmatsu India is transaction and tax adviser and Cyril Amarchand Mangaldas is legal adviser.
Additional Information:
1. PFC is a Maharatna power-sector infrastructure finance company established in 1986.
2. REC is a Maharatna NBFC established in 1969 and finances power generation, transmission and distribution.
RBI approves merger of Emirates NBD India into RBL Bank.
Banking & Finance
📅 21 Oct 2026
The Reserve Bank of India approved the merger of Emirates NBD Bank’s Indian branch operations into RBL Bank with effect from December 1, 2026.
Key Highlights:
1. Emirates NBD’s Mumbai, Gurugram and Chennai branches will become RBL Bank branches.
2. The Finance Ministry allowed Emirates NBD to acquire up to 74% of RBL Bank.
3. A 60% stake was completed on June 18, 2026 through a $2.75 billion, about Rs.26,000 crore, infusion.
4. RBL allotted 929.1 million shares at Rs.280 each for about Rs.26,016 crore.
5. The transaction is among the largest foreign direct investments in Indian banking.
Additional Information:
1. Emirates NBD is headquartered in Dubai and opened its first Indian branch in Mumbai in July 2017.
2. RBL Bank began as Ratnakar Bank in 1943 and is a Mumbai-based scheduled commercial bank.
SEBI extends IPO size-revision relaxation to March 2027.
Banking & Finance
📅 19 Oct 2026
SEBI extended until March 31, 2027 the relaxation allowing companies to revise an IPO’s fresh-issue size without filing new draft papers, according to an October 12, 2026 notification.
Key Highlights:
1. Companies may increase or decrease the fresh-issue component by up to 50%.
2. Normally, a change above 20% requires a new Draft Red Herring Prospectus.
3. The earlier relaxation was due to expire on September 30, 2026.
4. The IPO’s primary objective must remain unchanged.
5. Lead managers must certify compliance and update the merchant banker.
Additional Information:
1. Changes must be disclosed through an addendum to the offer document.
2. The extension gives issuers flexibility to respond to market volatility without restarting the filing process.
Karur Vysya Bank partners with Zurich Kotak General Insurance.
Banking & Finance
📅 19 Oct 2026
Karur Vysya Bank entered a bancassurance agreement with Zurich Kotak General Insurance on October 12, 2026 to distribute non-life insurance products through its banking channels.
Key Highlights:
1. The arrangement serves the bank’s retail and commercial customers.
2. Products include motor, health, travel and property insurance.
3. The agreement covers only non-life insurance.
4. It was disclosed under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015.
5. The arrangement involves no equity investment or acquisition.
Additional Information:
1. KVB will earn commission income from policy distribution rather than lending interest.
2. Zurich Kotak will use KVB’s network and customer-service channels to improve insurance penetration.
Bank deposits hit record $2.99 trillion through dollar-deposit scheme.
Banking & Finance
📅 19 Oct 2026
India’s banking-system deposits reached about Rs.284 trillion, or $2.99 trillion, in September 2023, driven mainly by RBI’s discounted swap window.
Key Highlights:
1. The swap window attracted about $133 billion in foreign-currency deposits.
2. Deposit growth during the first six months of the financial year was Rs.21.67 trillion.
3. The window opened in June and closed on August 31, one month early.
4. Deposits increased 8.4% from March-end levels.
5. The fortnight ending September 30 recorded Rs.7.73 trillion of inflows.
Additional Information:
1. CareEdge Ratings said the October rate increase likely prevents further term-deposit rate cuts.
2. The total of Rs.284 trillion was an all-time high in the second half of September.
LIC to launch Jeevan Dhara-II, Health Shield and New Cancer Cover.
Banking & Finance
📅 19 Oct 2026
Life Insurance Corporation of India scheduled the launch of New Jeevan Dhara-II, Health Shield and New Cancer Cover for October 19, 2026.
Key Highlights:
1. New Jeevan Dhara-II is Plan 892, a non-linked deferred annuity savings plan with guaranteed annuity rates.
2. Health Shield is Plan 907, a 15-year pure-risk health plan offering hospital cash and surgery or critical-illness benefits.
3. New Cancer Cover is Plan 908 and pays fixed benefits regardless of actual treatment cost.
4. Cancer Cover pays 25% of sum assured for early-stage and 100% for major-stage cancer.
5. Major-stage diagnosis also provides monthly income equal to 1% of sum assured for 10 years.
Additional Information:
1. All three products are available offline through agents and brokers and online through LIC’s portal.
2. Existing policyholders and high-sum-assured buyers are eligible for incentives.
NABARD subscribes Rs.4 crore to NSDC’s first SSE issue.
Banking & Finance
📅 18 Oct 2026
NABARD fully subscribed Rs.4 crore to NSDC’s first Zero Coupon Zero Principal issue on the Social Stock Exchange on October 14, 2026.
Key Highlights:
1. The ZCZP issue was listed on the NSE platform.
2. The project has an estimated Rs.11.25 crore outlay.
3. Madhya Pradesh will provide Rs.5.60 crore in outcome-linked funding.
4. It targets overseas employment for 600 rural OBC youth from Madhya Pradesh.
5. Training supports placements in Japan and Germany.
Additional Information:
1. NABARD was established on July 12, 1982 under the NABARD Act, 1981.
2. NSDC was established in 2008 as a public-private partnership.
CCEA approves strategic sale of 60.72% stake in IDBI Bank.
Banking & Finance
📅 18 Oct 2026
The Cabinet Committee on Economic Affairs approved the strategic disinvestment and sale of a 60.72% stake in IDBI Bank to a strategic buyer on October 14, 2026.
Key Highlights:
1. The winning bidder was 10955230 Canada Inc., a Fairfax Financial Holdings entity.
2. The sale includes 30.48% government equity and 30.24% LIC equity.
3. Total purchase consideration is Rs.52,878.08 crore.
4. The valuation benchmark was Rs.275.99 per share.
5. After the sale, the Government will retain 15% and LIC 19%.
Additional Information:
1. IDBI began as a statutory corporation in 1964 and became a banking company in 2004.
2. IDBI Bank is a scheduled commercial bank headquartered in Mumbai.
NovaFusion Capital receives RBI NBFC licence.
Banking & Finance
📅 18 Oct 2026
NovaFusion Capital, the lending subsidiary of Astranova Mobility, received RBI approval to operate as an NBFC on October 14, 2026.
Key Highlights:
1. The company targets Rs.5,000 crore assets under management within five years.
2. It will finance electric vehicles and climate-positive commercial assets.
3. Its customers are commercial operators who use financed assets for livelihood.
4. India may need $100 billion to electrify commercial vehicles.
5. Kunal Mundra is Astranova founder and CEO, while Shraddha Srimal leads NovaFusion.
Additional Information:
1. NBFCs are regulated by RBI under the RBI Act, 1934.
2. Unlike banks, NBFCs cannot accept demand deposits or issue cheques on themselves.
RBI opens special dollar window for oil PSUs and tightens forex rules.
Banking & Finance
📅 16 Oct 2026
The Reserve Bank of India introduced a special dollar window for three public-sector oil marketing companies and tightened foreign-exchange derivative rules from October 12, 2026.
Key Highlights:
1. RBI will meet the daily dollar needs of IOCL, HPCL and BPCL through designated banks.
2. Dealers cannot rebook cancelled INR derivative contracts, though rollover at maturity remains permitted.
3. The no-underlying-exposure derivative limit fell from $100 million to $5 million.
4. Exchange-traded currency derivative positions were also capped at $5 million.
5. Contracts above $2 million require a 20% Foreign Exchange Risk Reserve in cash with RBI.
Additional Information:
1. RBI was established on April 1, 1935 and nationalised on January 1, 1949.
2. IOCL, HPCL and BPCL are Maharatna public-sector oil marketing companies.
Karnataka Bank launches Trade Konnect digital platform.
Banking & Finance
📅 16 Oct 2026
Karnataka Bank launched Trade Konnect on October 15, 2026 as a dedicated digital platform for imports, exports and outward cross-border remittances.
Key Highlights:
1. The platform was inaugurated virtually from the bank’s Mangaluru head office.
2. Managing Director and CEO Raghavendra S. Bhat led the launch.
3. Customers can submit foreign-exchange transaction requests online.
4. It enables outward international remittances without visiting a branch.
5. The platform offers a secure digital channel for international trade services.
Additional Information:
1. Karnataka Bank is a private-sector bank.
2. The bank is headquartered in Mangaluru, Karnataka.
Federal Bank launches Verto premium savings account.
Banking & Finance
📅 15 Oct 2026
Federal Bank launched Verto, a premium savings account for young professionals and entrepreneurs, on October 14, 2026.
Key Highlights:
1. The account provides complimentary insurance cover up to Rs.35 lakh.
2. Customers receive 5% cashback on debit-card spending for food, fashion and flight bookings.
3. The package includes complimentary domestic airport lounge access.
4. It offers locker-rent concessions and outward-remittance benefits.
5. Account holders receive personalised spending, wealth and market insights.
Additional Information:
1. Federal Bank was incorporated in 1931.
2. The bank is headquartered in Aluva, Kerala and its MD and CEO is KVS Manian.
RBI raises daily CRR maintenance requirement to 99%.
Banking & Finance
📅 14 Oct 2026
The Reserve Bank of India raised banks’ minimum daily Cash Reserve Ratio maintenance requirement from 90% to 99%, effective from the fortnight beginning October 16, 2026.
Key Highlights:
1. Banks must maintain 99% of the prescribed CRR every day during the 15-day reporting fortnight.
2. The change reduces banks’ ability to offset a daily reserve shortfall later in the fortnight.
3. It is intended to tighten day-to-day liquidity management in the banking system.
4. System liquidity surplus was Rs.3.92 lakh crore and average LAF surplus was Rs.5.9 lakh crore in October 2026.
5. RBI may use VRRR auctions and open market operations to absorb liquidity.
Additional Information:
1. RBI was established on April 1, 1935 and nationalised on January 1, 1949.
2. CRR is the share of NDTL that banks keep as cash with RBI.
SEBI notifies Settlement Regulations 2026 with fast-track route.
Banking & Finance
📅 14 Oct 2026
SEBI notified the Settlement Regulations, 2026 on October 6, introducing a revised settlement formula and a fast-track route for cases up to Rs.10 lakh.
Key Highlights:
1. Fast-track cases move from the internal committee directly to a panel of whole-time members.
2. The route covers violation-based and monetary-threshold categories.
3. The base amount is linked to the minimum statutory penalty for the violation.
4. Adjustments consider the proceeding stage, seriousness and legal costs.
5. Settlement terms include payment, disgorgement and Remedial and Regulatory Terms.
Additional Information:
1. SEBI became a statutory body on April 12, 1992 under the SEBI Act.
2. SEBI is headquartered in Mumbai and regulates India’s securities market.
57th GST Council meeting recommends major compliance reforms.
Banking & Finance
📅 13 Oct 2026
The 57th GST Council meeting was held in New Delhi on October 8, 2026 under Finance Minister Nirmala Sitharaman and recommended wide legal, registration, penalty and refund reforms.
Key Highlights:
1. It proposed removing GST arrest powers by omitting CGST Section 69.
2. The prosecution threshold for tax evasion rises from Rs.1 crore to Rs.5 crore.
3. General penalty under Section 125 falls from Rs.25,000 to Rs.10,000.
4. No show-cause notice would issue below Rs.10,000.
5. Invoice Management System under Rule 60(6A) will manage credit notes and inward documents.
Additional Information:
1. GST Council is a constitutional body under Article 279A chaired by the Union Finance Minister.
2. GST began July 1, 2017 through the 101st Constitutional Amendment.
RBI raises repo rate by 25 basis points to 5.50%.
Banking & Finance
📅 10 Oct 2026
The Reserve Bank of India raised the benchmark repo rate by 25 basis points to 5.50% on October 7, 2026, its first rate increase in nearly four years.
Key Highlights:
1. The Monetary Policy Committee shifted its stance to calibrated tightening.
2. Four MPC members supported the calibrated tightening stance to manage inflation risks.
3. One basis point equals one-hundredth of a percentage point.
4. The RBI was established on April 1, 1935 under the RBI Act, 1934.
5. It was nationalised on January 1, 1949.
Additional Information:
1. Governor Sanjay Malhotra announced the 2026 policy.
2. The six-member MPC is a statutory body under Section 45ZB of the RBI Act.
SEBI launches Project Jagrook for financial literacy.
Banking & Finance
📅 09 Oct 2026
Finance Minister Nirmala Sitharaman launched SEBI’s Project Jagrook and the Samajh Se Investing Simple campaign at Panjab University, Chandigarh on October 5, 2026.
Key Highlights:
1. Project Jagrook combines physical and digital routes for financial literacy and fraud prevention.
2. Partners include NISM, BSE, NSE, MCX, CDSL, NSDL and AMFI.
3. World Investor Week ran October 5-11 under the theme Samajh Se Investing Simple.
4. The MUST initiative trains faculty and senior students as Partner Trainers with AIU support.
5. SEBI also launched a verified WhatsApp channel through 1800 22 7575 and opened its Chandigarh office.
Additional Information:
1. SEBI became a statutory body on April 12, 1992 and is headquartered in Mumbai.
2. IOSCO was established in 1983, is based in Madrid and coordinates World Investor Week.
Bank of Baroda becomes second PSB pension-fund sponsor.
Banking & Finance
📅 08 Oct 2026
Bank of Baroda became the second public-sector bank to receive PFRDA’s Certificate of Appointment as a pension-fund sponsor in October 2026.
Key Highlights:
1. The authorisation under Section 27 of the PFRDA Act, 2013 was presented at NPS Divas 2026.
2. BoB Pension Fund Management Company has authorised capital of Rs.100 crore.
3. Bank of Baroda holds 80.10% and Baroda BNP Asset Management Company 19.90%.
4. Tatkal NPS was integrated with the BHIM app for paperless onboarding.
5. SBI was the first public-sector bank in the segment through SBI Pension Funds in April 2008.
Additional Information:
1. Bank of Baroda was established in 1908 and is headquartered in Vadodara.
2. PFRDA is the statutory NPS regulator under the Finance Ministry’s Department of Financial Services.
RBI approves Anup Bagchi as HDFC Bank MD and CEO.
Banking & Finance
📅 07 Oct 2026
The Reserve Bank of India approved the appointment of Anup Bagchi as Managing Director and Chief Executive Officer of HDFC Bank on October 1, 2026.
Key Highlights:
1. Bagchi will succeed Sashidhar Jagdishan, whose term ends on October 26, 2026.
2. His three-year tenure will run from October 27, 2026 to October 26, 2029.
3. He has more than 30 years of banking experience.
4. HDFC Bank is India’s largest private-sector bank by assets.
5. The bank is headquartered in Mumbai and was founded in August 1994.
Additional Information:
1. RBI was established on April 1, 1935 under the RBI Act, 1934 and nationalised on January 1, 1949.
2. Sashidhar Jagdishan became HDFC Bank MD and CEO in 2020 after Aditya Puri.
PFRDA targets 3 crore new NPS subscribers in two years.
Banking & Finance
📅 07 Oct 2026
The Pension Fund Regulatory and Development Authority announced on October 1, 2026 a target to add 3 crore new National Pension System subscribers over the next two years.
Key Highlights:
1. The combined NPS and Atal Pension Yojana subscriber base crossed 10 crore by September 2026.
2. Their combined assets under management reached about Rs.18 lakh crore.
3. NPS Swasthya combines retirement savings with family-floater super top-up health insurance up to Rs.30 lakh.
4. Subscribers may use up to 25% of contributions for direct hospital-expense settlement.
5. NPS Tatkal uses UPI and existing bank KYC data for simplified account opening.
Additional Information:
1. PFRDA is a statutory regulator under the PFRDA Act, 2013, works under the Finance Ministry and is headquartered in New Delhi.
2. NPS began for government employees on January 1, 2004 and opened voluntarily to all citizens in May 2009.
NSE receives SEBI approval for corporate bond index futures.
Banking & Finance
📅 05 Oct 2026
The National Stock Exchange received approval from SEBI on October 1, 2026 to introduce futures contracts on a Corporate Bond Index.
Key Highlights:
1. The contracts will provide an exchange-traded tool for hedging, risk management and price discovery.
2. Participants may take positions linked to the performance of a corporate bond index.
3. The contracts are intended to improve institutional participation and debt-market liquidity.
4. Final introduction remains subject to approval from the Reserve Bank of India.
5. The product aims to strengthen India’s corporate bond derivatives ecosystem.
Additional Information:
1. NSE was established in 1992, recognised as a stock exchange in 1993 and is headquartered in Mumbai.
2. SEBI became a statutory regulator on April 12, 1992 under the SEBI Act, 1992.
CCI approves BNP Paribas Cardif stake in IndiaFirst Life.
Banking & Finance
📅 03 Oct 2026
The Competition Commission of India approved BNP Paribas Cardif’s acquisition of equity in IndiaFirst Life Insurance on September 30, 2026.
Key Highlights:
1. BNP Paribas Cardif is a French company wholly owned by BNP Paribas SA.
2. IndiaFirst Life is an IRDAI-licensed life insurer operating in India.
3. Competition clearance found no adverse effect on insurance-sector competition.
4. CCI is a statutory body established under the Competition Act 2002.
5. It prevents practices that harm competition and is headquartered in New Delhi.
Additional Information:
1. IRDAI was formed under the IRDA Act 1999 and is headquartered in Hyderabad.
2. BNP Paribas was formed in 2000 by merging Banque Nationale de Paris and Paribas.
Apple Pay launches in India with Axis Bank.
Banking & Finance
📅 03 Oct 2026
Apple launched its contactless Apple Pay service in India on September 30, 2026, initially partnering with Axis Bank.
Key Highlights:
1. Visa and Mastercard credit-card holders of Axis Bank are the first supported users.
2. Tokenisation replaces card details with an encrypted Device Account Number.
3. Face ID, Touch ID or device passcode authenticates transactions, with information stored in Secure Element hardware.
4. Compatible devices include iPhone XR or later on iOS 18 and Apple Watch Series 6 or later on watchOS 11.
5. NFC terminals at major retailers and apps such as Zomato, Blinkit and MakeMyTrip support the service.
Additional Information:
1. Apple was established in 1976 and is headquartered in Cupertino.
2. Axis Bank began as UTI Bank in 1993 and is headquartered in Mumbai.
Bank of India launches programmable digital-rupee functionality.
Banking & Finance
📅 03 Oct 2026
Bank of India went live on October 1, 2026, with user-level programmable digital-rupee and auto-issuance functions on its CBDC platform.
Key Highlights:
1. Montran India developed the platform under RBI and NPCI guidelines.
2. Users can schedule fixed e-rupee transfers to beneficiary wallets at chosen frequencies.
3. Purpose-based conditions travel with the money and restrict permitted spending.
4. After initial configuration, issuance operates without manual intervention.
5. Uses include education allowances limited to tuition or meals, welfare payments and cross-border transfers.
Additional Information:
1. Bank of India was established in 1906, headquartered in Mumbai and nationalised in 1969.
2. The RBI-issued digital rupee is a digital form of legal tender.