NSE launches India's first domestic natural gas futures contract.
Banking & Finance
📅 28 Jul 2026
National Stock Exchange of India (NSE) launched India's first domestic natural gas futures contract, creating a market-based instrument linked to domestic natural-gas pricing. Futures contracts allow market participants to manage price risk by buying or selling an underlying commodity at a predetermined price for delivery or settlement at a future date. The introduction of a domestic gas futures product is significant for energy companies, industrial consumers and other participants exposed to fluctuations in natural-gas prices. It can improve price discovery, facilitate hedging and provide a transparent reference for the domestic gas market.
Importance of Natural Gas Futures:
• A futures contract enables producers, consumers and traders to reduce uncertainty arising from price volatility. Better hedging tools may help companies plan procurement, manage input costs and make informed business decisions in the energy sector.
• The product can support the development of India’s domestic gas market by improving liquidity and providing market signals. Natural gas is an important transition fuel used in power generation, fertilisers, city gas distribution, transport and industrial processes.
About NSE :-
Full Name:, National Stock Exchange of India Limited
Headquarters:, Mumbai, Maharashtra
Established:, 1992
Regulator:, Securities and Exchange Board of India
SEBI revamps Portfolio Management Services rules to strengthen investor protection.
Banking & Finance
📅 28 Jul 2026
Securities and Exchange Board of India (SEBI) revamped the regulatory framework for Portfolio Management Services (PMS) to strengthen investor protection, transparency and accountability in the managed-investment industry. PMS providers manage investment portfolios on behalf of clients according to agreed objectives, risk profiles and regulatory requirements. Updated rules can improve disclosures, clarify responsibilities and promote fair dealing between portfolio managers and investors. The changes are important because managed-investment products often involve substantial investor funds and require proper oversight of fees, performance reporting, risk communication and conflicts of interest.
Focus of PMS Regulatory Reforms:
• The revised framework seeks to make portfolio-management services more transparent by strengthening norms for client communication, disclosures and conduct. Investors can make better decisions when they receive clear information about risks, charges, investment strategy and performance measurement.
• SEBI regulates India’s securities market to protect investors and ensure orderly market development. PMS reforms can improve governance in the asset-management ecosystem while requiring portfolio managers to maintain appropriate standards of suitability and accountability.
About SEBI :-
Full Name:, Securities and Exchange Board of India
Headquarters:, Mumbai, Maharashtra
Established:, 1992
Role:, Securities Market Regulator
EbixCash becomes India's first non-bank entity to receive an RBI Perpetual AD Category-II Licence.
Banking & Finance
📅 27 Jul 2026
EbixCash became India's first non-bank entity to receive a Perpetual Authorised Dealer Category-II Licence from the Reserve Bank of India (RBI). The licence permits the entity to undertake specified foreign-exchange transactions under the regulatory framework prescribed by RBI. Authorised Dealer Category-II entities play an important role in providing permitted foreign-exchange services, including remittances and other approved cross-border transactions. The perpetual nature of the licence provides continuity, subject to regulatory compliance, governance standards and ongoing supervision by the central bank.
Significance of the RBI Licence:
• The approval enables EbixCash to expand its permitted foreign-exchange service offerings without operating as a traditional bank. It reflects RBI’s regulated approach towards allowing eligible non-bank entities to participate in authorised foreign-exchange activities.
• Such entities must follow RBI directions relating to customer due diligence, anti-money-laundering norms, reporting requirements and transaction limits. The licence strengthens formal channels for cross-border financial services and supports transparency in foreign-exchange transactions.
About RBI :-
Full Name:, Reserve Bank of India
Established:, 1935
Headquarters:, Mumbai, Maharashtra
Role:, Central Bank and Foreign Exchange Regulator
NABARD and MAHAPREIT join hands to finance green rural infrastructure.
Banking & Finance
📅 27 Jul 2026
National Bank for Agriculture and Rural Development (NABARD) and MAHAPREIT joined hands to support financing for green rural infrastructure. The collaboration seeks to promote environmentally sustainable development projects in rural areas, including renewable energy, energy-efficient systems, water conservation and climate-resilient infrastructure. Rural infrastructure is essential for improving livelihoods, agricultural productivity, local enterprise development and access to basic services. Green financing can help ensure that development investments reduce environmental impact while also strengthening long-term resilience against climate-related risks.
Focus on Green Rural Development:
• The partnership can help mobilise financial resources for projects that improve energy access, reduce carbon emissions and support sustainable rural services. Such investments can create employment, reduce operating costs and encourage adoption of cleaner technologies in villages.
• NABARD plays a major role in rural credit, agricultural development and infrastructure financing. Collaboration with specialised institutions can improve project design, funding access and implementation capacity for green-development initiatives in Maharashtra.
About NABARD :-
Full Name:, National Bank for Agriculture and Rural Development
Established:, 1982
Headquarters:, Mumbai, Maharashtra
Role:, Rural Development Finance and Refinance
Department of Land Resources and RBI Innovation Hub explore digital land-credit infrastructure for rural lending.
Banking & Finance
📅 22 Jul 2026
Department of Land Resources (DoLR) and RBI Innovation Hub (RBIH) explored a digital land-credit infrastructure to improve access to formal credit for rural borrowers. The initiative seeks to use digitised land records and consent-based data sharing to help lenders verify land ownership and related information more efficiently.
The proposed infrastructure can reduce delays, improve transparency and enable farmers and rural landholders to use verified land-related information while applying for institutional loans. It can also support better credit assessment and reduce documentation burdens, while requiring safeguards for privacy, data protection and informed consent.
Key Highlights:
• DoLR and RBI Innovation Hub explored digital land-credit infrastructure for rural lending.
• Digitised land records can help lenders verify land-related information for credit assessment.
• The initiative aims to improve transparency, reduce delays and expand formal credit access in rural areas.
• Data privacy, consent and secure digital systems are important for implementation.
About RBI Innovation Hub :-
Established By:, Reserve Bank of India
Headquarters:, Bengaluru
Focus:, Financial Sector Innovation
RBI issues final prudential norms for Stressed Financial Assets.
Banking & Finance
📅 21 Jul 2026
Reserve Bank of India (RBI) issued final prudential norms relating to stressed financial assets. The framework aims to strengthen early identification, reporting, monitoring and resolution of stress in the loan accounts of regulated entities.
Stressed financial assets include loan accounts that show signs of repayment difficulty or have become non-performing assets. The prudential framework requires lenders to maintain robust credit-risk management, undertake timely review of stressed accounts and follow transparent resolution processes to preserve financial stability.
Key Highlights:
• RBI issued final prudential norms for management and resolution of stressed financial assets.
• The framework focuses on early identification, reporting and timely resolution of loan stress.
• It promotes stronger credit-risk management and monitoring by regulated entities.
• Timely resolution of stressed assets is important for protecting bank balance sheets and financial stability.
About RBI :-
Established:, 1935
Headquarters:, Mumbai
Governor:, Sanjay Malhotra
RBI Financial Inclusion Index rises to 70.1 in FY26.
Banking & Finance
📅 21 Jul 2026
The Reserve Bank of India (RBI) announced that its Financial Inclusion (FI) Index increased to 70.1 in FY26, compared with 67.0 in FY25. The improvement reflects greater access to formal financial services, wider usage of banking products and enhanced quality of financial-service delivery across India.
The RBI's FI Index is based on three broad dimensions: access, usage and quality. It measures the extent to which banking, credit, insurance, pension and digital-payment services are available and used by people across the country.
Key Highlights:
• RBI's Financial Inclusion Index rose to 70.1 in FY26 from 67.0 in FY25.
• The index evaluates access, usage and quality of financial services.
• It captures progress in availability and use of formal banking, credit, insurance, pension and payment services.
• A higher FI Index score indicates broader and deeper financial inclusion.
About RBI FI Index :-
Published By:, Reserve Bank of India
Base Year:, 2017
Dimensions:, Access, Usage and Quality
NITI Aayog releases Investment Friendliness Index 2026; Gujarat tops the ranking.
Economy Business
📅 18 Jul 2026
NITI Aayog released the Investment Friendliness Index 2026, a ranking designed to assess the investment environment and ease of doing business across states and Union Territories.
Gujarat topped the index, reflecting its performance in areas such as infrastructure, policy support, regulatory systems, industrial ecosystem, business facilitation and investment promotion.
Key Highlights:
Index: The Investment Friendliness Index 2026 was released by NITI Aayog.
Top State: Gujarat secured the first position in the index.
Purpose: The index assesses the conditions that help businesses invest, establish operations and expand across states and Union Territories.
Assessment Areas: Key areas can include infrastructure, policy stability, approvals, regulatory environment, logistics, skilled workforce and industry support.
Competitive Federalism: Such rankings encourage states to improve governance, simplify business procedures and attract productive investments.
Significance: The index can assist policymakers and investors by providing a comparative view of investment readiness across regions.
About NITI Aayog :-
Full Name:, National Institution for Transforming India
Established:, 2015
Chairperson:, Prime Minister Narendra Modi
Headquarters:, New Delhi
Muthoot Microfin partners with South Indian Bank for housing finance.
Economy Business
📅 18 Jul 2026
Muthoot Microfin partnered with South Indian Bank to strengthen access to housing-finance solutions for eligible customers.
The collaboration aims to combine Muthoot Microfin's reach among underserved and microfinance-linked borrowers with South Indian Bank's banking capabilities, enabling more households to access formal credit for home purchase, construction or improvement.
Key Highlights:
Partnership: Muthoot Microfin and South Indian Bank partnered to facilitate housing-finance access.
Objective: The collaboration seeks to provide formal housing-credit solutions to customers, including underserved and low-income segments.
Financial Inclusion: Access to housing finance can help families build, purchase, repair or improve homes while strengthening asset ownership.
Institutional Strength: The partnership combines microfinance outreach with the lending and banking capabilities of South Indian Bank.
Significance: The tie-up supports financial inclusion and can help expand access to affordable housing-related credit.
About South Indian Bank :-
Established:, 1929
Headquarters:, Thrissur, Kerala
Type:, Private sector bank
Tagline:, Experience Next Generation Banking
Delhivery Financial Services receives NBFC licence from RBI.
Economy Business
📅 18 Jul 2026
Delhivery Financial Services received a Non-Banking Financial Company (NBFC) licence from the Reserve Bank of India.
The licence enables the company to undertake permitted non-banking financial activities, subject to RBI regulations, and can support financial solutions for businesses, logistics partners, sellers and other participants associated with India's growing digital-commerce ecosystem.
Key Highlights:
Approval: Delhivery Financial Services received an NBFC licence from the Reserve Bank of India.
NBFC Role: NBFCs provide financial services such as loans, credit, asset financing and other permitted financial products, though they do not operate as full-service banks.
Regulatory Oversight: NBFCs are regulated by the RBI under applicable provisions of the Reserve Bank of India Act, 1934.
Business Relevance: The licence can support credit and financing services for small businesses, merchants, supply-chain partners and logistics ecosystem participants.
Significance: The development may strengthen financial inclusion and credit availability within the e-commerce and logistics value chain.
About Reserve Bank of India :-
Established:, 1935
Headquarters:, Mumbai
Governor:, Sanjay Malhotra
Role:, Central bank and monetary authority of India
GAIL and KABIL sign MoU for critical-minerals cooperation.
Economy Business
📅 18 Jul 2026
GAIL (India) Limited and Khanij Bidesh India Limited (KABIL) signed a Memorandum of Understanding for cooperation in the area of critical minerals.
The collaboration aims to explore opportunities related to the identification, acquisition, development and supply of critical mineral assets that are important for India's energy transition, renewable-energy expansion, electric mobility, electronics and strategic industries.
Key Highlights:
Partnership: GAIL and KABIL signed an MoU to cooperate on critical minerals.
Critical Minerals: These minerals are essential for technologies such as batteries, electric vehicles, solar panels, wind turbines, semiconductors and advanced defence systems.
Supply Security: The collaboration seeks to improve India's access to strategic mineral resources and reduce dependence on vulnerable global supply chains.
KABIL Role: KABIL was formed to identify, acquire and develop overseas mineral assets that are important for India's economic and strategic needs.
Energy Transition: Critical minerals are vital for clean-energy technologies and India's transition toward low-carbon development.
Significance: The MoU supports India's long-term mineral security and the growth of domestic clean-energy and high-technology industries.
About KABIL :-
Full Name:, Khanij Bidesh India Limited
Established:, 2019
Nature:, Joint venture of NALCO, HCL and MECL
Objective:, Securing overseas strategic mineral assets
Government launches Mobile Phone Manufacturing Scheme.
Economy Business
📅 17 Jul 2026
The Government launched the Mobile Phone Manufacturing Scheme to strengthen domestic production of mobile phones, electronic components and related supply chains in India.
The scheme aims to increase value addition, attract investment, generate employment, reduce import dependence and make India a major global hub for mobile-phone manufacturing.
Key Highlights:
Objective: The scheme seeks to expand domestic mobile-phone manufacturing and strengthen India's electronics-production ecosystem.
Value Addition: It encourages manufacturing of components, sub-assemblies and high-value parts within India instead of relying mainly on imports.
Investment: The initiative is expected to attract domestic and global manufacturers to establish or expand production facilities in India.
Employment: Mobile manufacturing can generate jobs in assembly, component production, logistics, repair, design, testing and associated services.
Exports: The scheme supports India's goal of increasing mobile-phone exports and integration with global electronics supply chains.
Significance: It aligns with Make in India, Atmanirbhar Bharat and the broader objective of making India an electronics-manufacturing hub.
About Make in India :-
Launched:, 2014
Objective:, Promote manufacturing and investment in India
Administrative Department:, Department for Promotion of Industry and Internal Trade
Focus:, Manufacturing, innovation and investment
Union Cabinet approves Semicon 2.0 with an outlay of Rs. 1.27 lakh crore.
Economy Business
📅 17 Jul 2026
The Union Cabinet approved Semicon 2.0 with an outlay of Rs. 1.27 lakh crore to strengthen India's semiconductor ecosystem.
The programme aims to expand domestic semiconductor manufacturing, chip design, research, talent development, supply-chain resilience and the production of advanced electronic components in India.
Key Highlights:
Outlay: Semicon 2.0 was approved with a total outlay of Rs. 1.27 lakh crore.
Objective: The programme aims to build a strong and self-reliant semiconductor ecosystem in India.
Manufacturing Focus: It supports semiconductor fabrication, chip packaging, testing, design and related electronics manufacturing capabilities.
Innovation Support: The initiative will promote research, design innovation, skilled manpower and startup participation in the semiconductor sector.
Strategic Importance: Semiconductors are essential for electronics, telecommunications, automobiles, defence systems, artificial intelligence, medical devices and digital infrastructure.
Significance: The programme supports India's objective of reducing import dependence and becoming a global hub for semiconductor manufacturing and design.
About India Semiconductor Mission :-
Launched:, 2021
Administrative Ministry:, Ministry of Electronics and Information Technology
Objective:, Building a semiconductor and display manufacturing ecosystem
Headquarters:, New Delhi
India's exports reach USD 232.73 billion in Q1 FY27.
Economy Business
📅 16 Jul 2026
India's total exports reached USD 232.73 billion during the first quarter of financial year 2026-27, according to data released by the Ministry of Commerce and Industry.
The figure includes merchandise exports and services exports, reflecting India's continuing engagement with global markets amid changing international trade conditions.
Key Highlights:
Period: The export performance relates to the first quarter of FY27, covering April to June 2026.
Total Exports: India recorded total exports worth USD 232.73 billion during the quarter.
Export Components: Total exports comprise merchandise exports, which are physical goods, and services exports, which include areas such as information technology, business services, travel and transport.
Importance: Export growth supports foreign-exchange earnings, domestic production, employment generation and India's integration with global value chains.
Policy Focus: The Government continues to promote export diversification, market access, logistics efficiency and competitiveness of Indian products and services.
About Ministry of Commerce and Industry :-
Headquarters:, New Delhi
Union Minister:, Piyush Goyal
Department:, Department of Commerce and Department for Promotion of Industry and Internal Trade
Role:, Formulation of trade and commerce policy
Axis Max Life launches Smart RISE retirement plan.
Economy Business
📅 16 Jul 2026
Axis Max Life Insurance launched Smart RISE, a retirement-oriented insurance plan that combines guaranteed benefits with a variable annuity linked to the NIFTY 50 index.
The product is designed to help individuals build retirement income by providing an element of protection along with the potential to participate in equity-market performance.
Key Highlights:
Product Type: Smart RISE is a retirement plan that offers an income-oriented solution for post-retirement financial needs.
Guaranteed Component: The plan includes guaranteed benefits, providing a level of income certainty for policyholders.
Variable Annuity: It also includes a variable annuity component linked to NIFTY 50 performance, offering possible market-linked upside.
Retirement Objective: The product aims to help customers plan for long-term financial security and regular income after retirement.
Significance: It reflects the increasing focus on retirement planning as life expectancy rises and traditional pension coverage remains limited.
About Axis Max Life Insurance :-
Headquarters:, New Delhi
Sector:, Life insurance
Regulator:, Insurance Regulatory and Development Authority of India
Focus:, Protection, savings and retirement solutions
Bank of Maharashtra launches FinSpark'26 cybersecurity hackathon.
Economy Business
📅 15 Jul 2026
Bank of Maharashtra launched FinSpark'26, a national-level cybersecurity hackathon aimed at encouraging innovative solutions to strengthen cybersecurity in the banking and financial sector.
The hackathon seeks to bring together students, startups, technology professionals and cybersecurity researchers to address emerging challenges in digital banking, fraud prevention and secure financial services.
Key Highlights:
Event: FinSpark'26 is a national-level cybersecurity hackathon launched by Bank of Maharashtra.
Objective: The initiative aims to identify innovative technology solutions for cyber threats, fraud risks and security challenges in banking services.
Participants: The hackathon encourages participation from students, startups, developers, researchers and cybersecurity professionals.
Innovation Areas: Focus areas may include fraud detection, secure authentication, threat intelligence, data protection and digital-payment security.
Significance: The initiative promotes innovation, talent development and stronger cyber resilience in the financial ecosystem.
About Bank of Maharashtra :-
Established:, 1935
Headquarters:, Pune, Maharashtra
Type:, Public sector bank
Tagline:, One Family One Bank
India strengthens the MSME ecosystem through digital platforms and quality support.
Economy Business
📅 13 Jul 2026
India continued efforts to strengthen the Micro, Small and Medium Enterprises (MSME) ecosystem through digital platforms, quality certification, easier credit access and expanded market linkages.
These measures aim to improve the productivity, formalisation, competitiveness and resilience of small businesses across the country.
Key Highlights:
Digital Access: Digital platforms support MSMEs in accessing markets, government procurement, financial services and business information.
Quality Improvement: Quality-certification programmes encourage enterprises to adopt better manufacturing processes, improve product standards and become more competitive.
Credit Support: Invoice-discounting and digital-credit platforms help address working-capital requirements of small businesses.
Market Expansion: E-commerce and open-network platforms provide wider domestic and international market opportunities to MSMEs.
Significance: A stronger MSME ecosystem supports employment generation, local production, exports and inclusive economic growth.
About MSME :-
Full Form:, Micro, Small and Medium Enterprises
Administrative Ministry:, Ministry of Micro, Small and Medium Enterprises
Role:, Employment, manufacturing and exports
Key Challenge:, Access to finance and markets
World Bank approves USD 890 million for PM Surya Ghar.
Economy Business
📅 13 Jul 2026
World Bank Group approved a financing package of USD 890 million to support India's PM Surya Ghar: Muft Bijli Yojana.
The financing will accelerate adoption of residential rooftop solar systems, strengthen the domestic rooftop-solar ecosystem and support India's clean-energy transition.
Key Highlights:
Financing Package: The package includes an USD 820 million IBRD loan, USD 60 million concessional finance from the Clean Technology Fund and an USD 10 million grant from the IBRD Livable Planet Fund.
Scheme Objective: PM Surya Ghar aims to provide eligible households with free electricity of up to 300 units per month through rooftop solar installations.
Employment Generation: The programme is expected to create about 1.7 million jobs in solar manufacturing, installation, operations and maintenance activities.
Energy Transition: It will reduce household electricity costs, lower carbon emissions and increase decentralised renewable-energy generation.
Significance: The support will help India scale up rooftop solar and improve clean-energy access for households.
About World Bank :-
Established:, 1944
Headquarters:, Washington, D.C., United States
President:, Ajay Banga
Member Countries:, 189
QCI and NSIC sign MoU to support MSMEs.
Economy Business
📅 13 Jul 2026
Quality Council of India (QCI) and the National Small Industries Corporation (NSIC) signed a Memorandum of Understanding to improve quality, competitiveness and market access for Micro, Small and Medium Enterprises.
The partnership will help MSMEs become more efficient, compliant and globally competitive through quality certification, capacity building and digital-market linkages.
Key Highlights:
Quality Support: The collaboration will promote quality standards, certification and best practices among MSMEs.
Key Platforms: It will create convergence with ZED Certification, MSME Global Mart, Open Network for Digital Commerce, TEAM and the Single Point Registration Scheme.
Capacity Building: MSMEs will receive support in adopting quality systems, improving processes and meeting market requirements.
Market Access: The MoU aims to improve small enterprises' participation in domestic supply chains, e-commerce and export opportunities.
Significance: The partnership supports the Government's objective of strengthening MSME competitiveness, formalisation and digital integration.
About QCI :-
Established:, 1997
Headquarters:, New Delhi
Chairman:, Jaxay Shah
Objective:, Promoting quality standards in India
India’s Foreign Exchange Reserves Surge by $7.3 Billion to Hit $674 Billion.
Economy Business
📅 12 Jul 2026
Showcasing tremendous macroeconomic resilience, the Reserve Bank of India (RBI) released data on July 11, 2026, revealing that India’s foreign exchange (forex) reserves spiked by $7.26 billion to reach a massive $674 billion in the first week of July. BACKGROUND & IMPORTANCE: The significant surge was primarily driven by a robust $4.5 billion increase in Foreign Currency Assets (FCA) and a $2.6 billion appreciation in the value of gold reserves. The sharp inflow of Foreign Currency Non-Resident (FCNR) deposits and External Commercial Borrowings (ECBs) contributed heavily to this milestone. A massive forex reserve acts as a critical buffer for the RBI to stabilize the Indian Rupee against severe global market volatility.
Key Highlights
- (Exam Perspective) — India’s forex reserves hit $674 billion in July 2026 following a surge of over $7.2 billion.
- (Exam Perspective) — The reserves are managed and published weekly by the Reserve Bank of India (RBI).
- Forex Components — Forex reserves comprise Foreign Currency Assets, Gold, SDRs, and the Reserve Tranche Position (RTP) at the IMF.
Important Facts
- The Foreign Currency Assets (FCA) form the largest component of India's total foreign exchange reserves.
- FCAs are maintained in major global currencies like the US Dollar, Euro, Pound Sterling, and Japanese Yen, but are always expressed in US Dollar terms for reporting.
- Fluctuations in the FCA occur due to the appreciation or depreciation of non-US currencies held in the reserves against the US Dollar.
India and the USA Launch a Joint Task Force on Semiconductor Supply Chain Resiliency.
Economy Business
📅 12 Jul 2026
In a massive push to decouple from China's tech dominance, India and the United States officially launched the Joint Task Force on Semiconductor Supply Chain Resiliency in Washington D.C. on July 11-12, 2026. BACKGROUND & IMPORTANCE: Driven by the iCET (Initiative on Critical and Emerging Technology) framework, the task force aims to align India's massive Semiconductor Mission subsidies with the US CHIPS Act. The immediate goal is to establish advanced packaging and testing (ATMP) facilities in India, utilizing American intellectual property and Indian engineering talent. This collaboration is critical as the global economy faces severe microchip shortages that routinely cripple automobile and smartphone manufacturing.
Key Highlights
- (Exam Perspective) — India and the USA launched a Joint Task Force to secure global semiconductor supply chains.
- (Exam Perspective) — This initiative operates under the broader bilateral framework known as iCET (Initiative on Critical and Emerging Technology).
- Semiconductor — Silicon (Si) and Germanium (Ge) are the most widely used elemental semiconductors in microchip manufacturing.
Important Facts
- The iCET was elevated as a premier bilateral framework by the Prime Minister of India and the President of the USA in 2022.
- It aims to elevate and expand strategic technology partnerships and defense industrial cooperation between the governments, businesses, and academic institutions of both countries.
- Core focus areas of iCET include Artificial Intelligence, Quantum Computing, Space technology, 6G communications, and Semiconductor supply chains.
ONGC Approves Expansion of Strategic Crude Reserve at Mangaluru.
Economy Business
📅 10 Jul 2026
Bolstering India’s energy security against global supply chain shocks, the Oil and Natural Gas Corporation Limited (ONGC) granted in-principle approval on July 9-10, 2026, for the construction of a new 1.75 million metric tonnes Strategic Petroleum Reserve at Mangaluru, Karnataka. BACKGROUND & IMPORTANCE: Developed in coordination with the Indian Strategic Petroleum Reserves Limited (ISPRL), this expansion adds crucial buffering capacity to India’s existing underground crude oil caverns. India imports nearly 80% of its crude oil. This expansion guarantees over 85 days of national energy buffer during geopolitical crises, directly protecting the Indian economy from severe crude price volatility.
Key Highlights
- (Exam Perspective) — ONGC approved the expansion of a 1.75 MMT Strategic Petroleum Reserve in Mangaluru, Karnataka.
- (Exam Perspective) — The strategic reserves are managed by Indian Strategic Petroleum Reserves Limited (ISPRL) under the Ministry of Petroleum.
- ONGC — Oil and Natural Gas Corporation (ONGC) is a central public sector undertaking and a Maharatna company.
Important Facts
- The ISPRL is a wholly-owned subsidiary of the Oil Industry Development Board (OIDB) functioning under the Ministry of Petroleum and Natural Gas.
- It is responsible for maintaining the country's emergency crude oil reserves in massive underground rock caverns.
- These caverns act as an energy buffer, designed to sustain India's petroleum demand during supply shocks or wars.
World Bank Approves $890 Million Package for India’s National Rooftop Solar Programme.
Economy Business
📅 10 Jul 2026
Giving a massive financial impetus to India’s renewable energy sector, the World Bank Board of Executive Directors formally approved an $890 million financing package on July 9-10, 2026. BACKGROUND & IMPORTANCE: This funding is exclusively designated to accelerate the "PM Surya Ghar: Muft Bijli Yojana" (India’s national rooftop solar programme). The initiative targets the installation of rooftop solar panels on one crore low-to-medium-income residential households. The World Bank credit will facilitate subsidized loans, grid integration, and the creation of solar micro-grids, significantly reducing India’s dependence on coal-powered electricity and supporting its Net-Zero by 2070 climate goals.
Key Highlights
- (Exam Perspective) — The World Bank approved an $890 million funding package for India’s PM Surya Ghar rooftop solar scheme.
- (Exam Perspective) — The "PM Surya Ghar" scheme aims to install rooftop solar systems across one crore households.
- World Bank — The World Bank is headquartered in Washington, D.C., and Ajay Banga is its current President.
Important Facts
- The World Bank Group is an international financial institution that provides loans and grants to the governments of low- and middle-income countries.
- It was established along with the IMF at the 1944 Bretton Woods Conference.
- The Group comprises five institutions: IBRD, IDA, IFC, MIGA, and ICSID.
India Extends Anti-Dumping Duty on Seamless Steel Tubes Imported from China till 2027.
Economy Business
📅 10 Jul 2026
To protect domestic metallurgical industries from unfair foreign competition, the Ministry of Finance officially notified on July 9-10, 2026, the extension of the anti-dumping duty on specific seamless tubes, pipes, and hollow profiles of iron and alloy steel imported from China. BACKGROUND & IMPORTANCE: The duty, which was originally slated to expire, has been extended until January 2027 following a rigorous sunset review investigation by the Directorate General of Trade Remedies (DGTR). The review found that removing the duty would lead to a severe influx of cheap, subsidized Chinese steel, severely damaging the operational margins of Indian manufacturers and contradicting the "Make in India" ethos.
Key Highlights
- (Exam Perspective) — The Indian government extended the anti-dumping duty on seamless steel pipes and tubes from China till 2027.
- (Exam Perspective) — These investigations are conducted by the Directorate General of Trade Remedies (DGTR) under the Ministry of Commerce.
- Anti-Dumping Duty — It is a protectionist tariff imposed on foreign imports priced below fair market value.
Important Facts
- In international trade economics, dumping occurs when a country or company exports a product at a price lower than its domestic market price.
- An anti-dumping duty is a tariff imposed by a domestic government to rectify this market distortion and ensure fair competition.
- Unlike safeguard duties, which are applied to all imports of a product, anti-dumping duties are country-specific and sometimes even firm-specific.
OECD-FAO Agricultural Outlook 2026-2035 Projects Sustained Growth in Global Agriculture.
Economy Business
📅 10 Jul 2026
The Organization for Economic Cooperation and Development (OECD) and the UN Food and Agriculture Organization (FAO) jointly released the highly anticipated Agricultural Outlook 2026-2035 on July 9-10, 2026. BACKGROUND & IMPORTANCE: The flagship report projects a steady global agricultural production growth driven predominantly by technological productivity gains rather than the expansion of arable land. However, it issues a stark warning regarding global food security buffer stocks. It highlights that due to geopolitical disruptions (like the Ukraine and Middle East crises) and climate-induced extreme weather, international supply chains remain highly vulnerable. For India, the report forecasts a massive surge in dairy and poultry consumption driven by rising middle-class incomes.
Key Highlights
- (Exam Perspective) — The OECD-FAO Agricultural Outlook 2026-2035 report was published in July 2026.
- (Exam Perspective) — The report predicts global agricultural growth will be driven mostly by technological productivity gains.
- FAO — The Food and Agriculture Organization (FAO) of the United Nations is headquartered in Rome, Italy.
Important Facts
- The OECD was founded in 1961 to stimulate economic progress and world trade.
- Headquartered in Paris, France, it is essentially a forum of countries describing themselves as committed to democracy and the market economy.
- While India is not a full member of the OECD, it is considered a "Key Partner" and works extensively with OECD committees.
RBI Conducts Auction of Government Securities Worth ?32,000 Crore.
Economy Business
📅 09 Jul 2026
To manage the government’s borrowing program and infuse market liquidity, the Reserve Bank of India (RBI) conducted a massive auction of Government Securities (G-Secs) amounting to ?32,000 Crore on July 9, 2026. BACKGROUND & IMPORTANCE: The auction included both short-term treasury bills and long-term sovereign bonds. G-Secs are tradable instruments issued by the Central or State Governments acknowledging debt obligations. This specific auction is critical for bridging the central fiscal deficit outlined in the 2026 Union Budget, ensuring the government has adequate capital to fund ongoing major infrastructure projects without causing extreme inflationary pressures.
Key Highlights
- (Exam Perspective) — The RBI auctioned Government Securities (G-Secs) worth ?32,000 crore in July 2026.
- (Exam Perspective) — G-Secs are risk-free debt instruments issued by the government, earning them the name "Gilt-edged" securities.
- Open Market Operations — The buying and selling of government securities by the RBI to regulate money supply is called Open Market Operations (OMO).
Important Facts
- Government Securities (G-Secs) are debt instruments issued by the central or state governments to finance their fiscal deficits.
- Because they have the backing of the sovereign government, they are practically risk-free (zero default risk).
- Under the RBI’s Retail Direct Scheme, individual retail investors can easily open a Gilt Securities Account with the RBI to invest in these bonds.
UN Report: FDI Inflows to India Surged by 44% to $39 Billion in 2025.
Economy Business
📅 08 Jul 2026
A major economic report released by the United Nations on July 8, 2026, revealed that Foreign Direct Investment (FDI) inflows into India witnessed a massive 44% surge, reaching USD 39 billion during the previous calendar year (2025). BACKGROUND & IMPORTANCE: While global FDI trends faced macroeconomic headwinds, India cemented its position as one of the world’s most attractive investment destinations. The UN Trade and Development organization noted that the surge was primarily driven by massive investments in greenfield manufacturing (boosted by PLI schemes), renewable energy projects, and digital infrastructure. This data is critical as it reflects foreign investors' strong confidence in the structural reforms and economic stability of the Indian market.
Key Highlights
- (Exam Perspective) — According to the UN report, FDI inflows to India grew by 44% to reach $39 billion in 2025.
- (Exam Perspective) — FDI (Foreign Direct Investment) refers to an investment made by a firm or individual in one country into business interests located in another country.
- DIPP/DPIIT — The Department for Promotion of Industry and Internal Trade (DPIIT) is the nodal agency for FDI policy in India.
Important Facts
- In India, FDI can come through two primary routes: the Automatic Route and the Government Route.
- Under the Automatic Route, the non-resident investor or the Indian company does not require any prior approval from the Government of India.
- Under the Government Route, prior approval is mandatory, processed through the Foreign Investment Facilitation Portal (FIFP) administered by the DPIIT.
SEBI Issues Guidelines for Utilizing Interest from Investor Protection Fund (IPF) of Depositories.
Banking & Finance
📅 07 Jul 2026
To streamline financial operations within stock market infrastructure, the Securities and Exchange Board of India (SEBI) issued a circular on July 7, 2026, reviewing the norms for the utilization of interest and income generated from the Investor Protection Fund (IPF) of Depositories. BACKGROUND & IMPORTANCE: Depositories in India (like NSDL and CDSL) are required to maintain an IPF to compensate investors in case a depository participant defaults. Over time, these funds accumulate significant interest. SEBI's new framework explicitly dictates how this accumulated income can be utilized. The circular mandates that a major portion of this interest must be dedicated to expanding investor education, conducting awareness programs, and upgrading grievance redressal mechanisms, ensuring the funds directly benefit the retail investing public rather than being absorbed into corporate profits.
Key Highlights
- (Exam Perspective) — The circular governs the income generated from the Investor Protection Fund (IPF) maintained specifically by Depositories.
- (Exam Perspective) — SEBI mandated that the interest must be heavily used for investor education and awareness programs.
- Depositories in India — India currently has two active depositories: NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited).
Important Facts
- The IPF is a trust established by stock exchanges and depositories as mandated by SEBI.
- Its primary objective is to compensate investors in the event of default by a trading member or a depository participant.
- It acts as a critical safety net, building confidence among retail participants in the securities market.
Government Initiates 5% Stake Sale in Cochin Shipyard via Offer for Sale (OFS).
Banking & Finance
📅 07 Jul 2026
In line with its disinvestment targets, the Government of India announced the offloading of a 5% stake in the state-run Cochin Shipyard Limited (CSL) through an Offer for Sale (OFS), which opened for non-retail investors on July 7, 2026. BACKGROUND & IMPORTANCE: The floor price for the OFS was set at ?1,400 per share, reflecting a 7% discount from its closing price. This strategic divestment allows the government to raise capital while maintaining majority control over the critical defense and commercial shipbuilding asset. Cochin Shipyard, known for building India’s first indigenous aircraft carrier INS Vikrant, has seen a massive surge in stock value due to robust defense orders and maritime sector growth under the "Make in India" initiative.
Key Highlights
- (Exam Perspective) — The government is divesting up to 5% of its equity in Cochin Shipyard Limited.
- (Exam Perspective) — The route chosen for this divestment is the Offer for Sale (OFS) mechanism on stock exchanges.
- Disinvestment Ministry — The Department of Investment and Public Asset Management (DIPAM) handles central government disinvestment.
Important Facts
- An Offer for Sale (OFS) is a transparent mechanism introduced by SEBI to allow promoters of a listed company to sell their shares.
- It allows the government (as a promoter of PSUs) to sell its stakes directly to retail and institutional investors on the stock exchange platform.
- Unlike an IPO or FPO, an OFS is a simpler, quicker process that does not require filing a Draft Red Herring Prospectus (DRHP).
SEBI Revises Framework For Handling Clients' Unpaid Securities to Enhance Market Protection.
Banking & Finance
📅 06 Jul 2026
In a major regulatory update aimed at safeguarding retail investors, the Securities and Exchange Board of India (SEBI) issued a revised framework on July 6, 2026, for the handling of clients' unpaid securities by Trading Members (TMs) and Clearing Members (CMs). BACKGROUND & IMPORTANCE: The new guidelines mandate that if a client fails to pay for securities within the stipulated time, the broker cannot retain them indefinitely. Instead, the securities must be transferred to a separate "Client Unpaid Securities Account" (CUSA) and liquidated within five trading days from the payout date. This strictly prevents brokers from misusing client assets for their own margin requirements, addressing a critical loophole in market operations.
Key Highlights
- (Exam Perspective) — The mandatory liquidation period for unpaid securities has been set to a strict limit of five trading days from the date of payout.
- (Exam Perspective) — Securities must now be transferred to a designated Client Unpaid Securities Account (CUSA) instead of the broker's general pool account.
- SEBI Headquarters & Chief — SEBI is headquartered in Mumbai; Madhabi Puri Buch is the current Chairperson (as of 2026).
Important Facts
- SEBI is the apex regulatory body for securities and commodity markets in India, operating under the jurisdiction of the Ministry of Finance.
- Its primary statutory objective is to protect the interests of investors in securities, promote the development of, and strictly regulate the securities market.
- The Board comprises a Chairman, two members from the Finance Ministry, one from the RBI, and five other members nominated by the Central Government.
India’s Forex Reserves Hit a New All-Time High of $675 Billion.
Economy Business
📅 04 Jul 2026
According to the latest data released by the Reserve Bank of India (RBI) on July 4, 2026, India’s massively accumulated Foreign Exchange (Forex) Reserves surged to a staggering, new all-time high of $675 Billion. The aggressive jump was primarily driven by heavy foreign portfolio investments into the booming Indian stock market and the central bank’s strategic dollar-buying interventions.
Key Highlights
- IMPORTANT POINT: Import Cover — The massive reserves provide an incredibly strong buffer, equating to more than 11 months of strict import cover for the Indian economy.
- IMPORTANT POINT: Component Breakdown — Foreign Currency Assets (FCA) aggressively form the largest component of India’s total forex reserves.
- Global Ranking — India currently holds the fourth-largest foreign exchange reserves globally, strictly behind China, Japan, and Switzerland.
Important Facts
- Foreign Exchange Reserves are massive assets strictly held on reserve by a central bank in foreign currencies, heavily used to back liabilities and influence monetary policy.
- In India, they aggressively consist of Foreign Currency Assets (FCA), Gold reserves, Special Drawing Rights (SDRs), and Reserve Tranche Position (RTP) in the IMF.
- High reserves strongly boost global investor confidence, stabilizing the value of the Indian Rupee (INR) during extreme global market volatility.
RBI Introduces Offline Transaction Features for the Digital Rupee.
Economy Business
📅 04 Jul 2026
In a massively significant digital banking evolution, the Reserve Bank of India (RBI) aggressively rolled out offline transaction capabilities for the Central Bank Digital Currency (CBDC), or Digital Rupee (e?), on July 4, 2026. This newly integrated functionality permits heavily secure, peer-to-peer digital currency transfers using near-field communication (NFC) technologies, functioning seamlessly even in deeply remote areas lacking active internet connectivity.
Key Highlights
- IMPORTANT POINT: Financial Inclusion — The offline feature heavily targets unbanked rural populations, accelerating grassroots financial inclusion without smartphone dependency.
- IMPORTANT POINT: Transaction Limit — To strictly mitigate security risks, the RBI capped offline e? transfers at a maximum limit of ?500 per transaction.
- CBDC Launch — The pilot program for the retail Digital Rupee (e?-R) was originally launched by the RBI on December 1, 2022.
Important Facts
- The Digital Rupee (e?) is a legally recognized, digital form of fiat currency aggressively issued and strictly regulated by the RBI.
- Unlike highly volatile private cryptocurrencies (like Bitcoin), CBDCs aggressively hold the exact same sovereign monetary value as physical banknotes.
- It is specifically divided into two distinct categories: Wholesale CBDC (e?-W) for institutional settlements, and Retail CBDC (e?-R) for everyday consumers.
Indian Exporters See Surge in Orders Ahead of India-UK CETA Rollout on July 15.
Economy Business
📅 03 Jul 2026
In early July 2026, Indian exporters reported a massive surge in export orders originating from the United Kingdom. This rush is heavily driven by the anticipated implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA), scheduled for rollout on July 15, 2026. Businesses in sectors like textiles, garments, and leather goods are expecting drastic tariff cuts, which will boost the competitiveness of Indian products in the UK market.
Key Highlights
- IMPORTANT POINT: Benefiting Sectors — The pact is expected to primarily boost exports of gems and jewellery, pharmaceuticals, and marine products.
- IMPORTANT POINT: Compliance Hurdles — Despite the boom, certain sectors like Indian toy exporters are facing strict new quality compliance hurdles set by UK authorities.
- FTAs — A Free Trade Agreement (FTA) is an international treaty between two or more economies that reduces or totally eliminates customs tariffs and import quotas.
Important Facts
- A CETA is a broader version of a Free Trade Agreement (FTA) that includes regulatory cooperation, investment protection, and intellectual property rights.
- The India-UK CETA aims to structurally double the bilateral trade between the two nations by removing non-tariff barriers.
- It significantly provides Indian service professionals, specifically in IT and healthcare, with easier visa access to the UK market.
State Bank of India Unveils its Advanced YONO 2.0 Application.
Economy Business
📅 03 Jul 2026
On July 3, 2026, the State Bank of India (SBI) completely revamped its digital banking infrastructure by launching the highly anticipated YONO 2.0 app. Designed to serve as a comprehensive "super-app," the new version natively integrates advanced Artificial Intelligence (AI) for hyper-personalized financial planning, instant loan approvals, and unified wealth management, deeply enhancing the user experience for over 80 million active customers.
Key Highlights
- IMPORTANT POINT: Multilingual Support — YONO 2.0 strongly introduces seamless voice-assisted banking across 14 major Indian regional languages.
- IMPORTANT POINT: Open Banking — The app operates on an Open API architecture, allowing customers to easily link and manage accounts from other competitor banks.
- SBI Tagline — The official tagline of the State Bank of India is "The Banker to Every Indian".
Important Facts
- The State Bank of India is India's largest public sector bank, commanding over a quarter of the total market share in deposits and advances.
- Historically, it descends from the Imperial Bank of India, which was officially established in 1921 and later nationalized in 1955.
- SBI maintains the largest international presence among Indian banks, actively operating across more than 30 countries globally.
RBI Implements the Revamped Integrated Ombudsman Scheme from July 1.
Economy Business
📅 02 Jul 2026
Starting July 1, 2026, the Reserve Bank of India (RBI) formally implemented its highly anticipated and revamped Integrated Ombudsman Scheme. The updated framework is designed to further streamline grievance redressal for bank customers across India by offering a single, centralized portal for lodging complaints against regulated entities, including banks, NBFCs, and digital payment systems. This move is a major step towards enhancing consumer protection in the digital banking era.
Key Highlights
- IMPORTANT POINT: Scope Expansion — The revamped scheme now explicitly covers unauthorized digital lending apps and credit information companies within its strict purview.
- IMPORTANT POINT: One Nation One Portal — It operates on a "One Nation, One Ombudsman" approach, allowing users to file, track, and resolve complaints effortlessly online.
- Legal Backing — The Ombudsman scheme is framed under Section 35A of the Banking Regulation Act, 1949.
Important Facts
- The Integrated Ombudsman Scheme amalgamates three previous schemes into a single framework to resolve customer grievances related to services provided by RBI-regulated entities.
- It is entirely free of charge for customers and includes a centralized receipt and processing center (CRPC) setup in Chandigarh.
- The Ombudsman has the authority to award compensation up to ?20 lakh for consequential loss suffered by the complainant.
Kotak Mahindra Bank Acquires Deutsche Bank’s Retail Business in India for ?282 Crore.
Economy Business
📅 02 Jul 2026
In a major consolidation move within the Indian banking sector, Kotak Mahindra Bank announced the acquisition of the personal loan, retail, and wealth management business of the German lender Deutsche Bank in India. The deal, valued at ?282 crore, is strategically designed to rapidly expand Kotak’s premium customer base and upscale its wealth management portfolio across major metropolitan cities.
Key Highlights
- IMPORTANT POINT: Regulatory Nod — The acquisition process is expected to be fully finalized by late 2026, subject to final approval from the Competition Commission of India (CCI) and the RBI.
- IMPORTANT POINT: DB’s Strategy — Deutsche Bank is offloading its retail segments to concentrate more efficiently on its core strengths: corporate banking and institutional financing in India.
- Kotak Headquarters — Kotak Mahindra Bank is headquartered in Mumbai, Maharashtra, and Ashok Vaswani is its current MD & CEO.
Important Facts
- Kotak Mahindra Bank is the third largest Indian private sector bank by market capitalization, renowned for its strong risk management.
- It offers a wide array of financial services including personal finance, investment banking, general insurance, and life insurance.
- The bank has historically grown through strategic inorganic acquisitions, such as its famous merger with Vysya Bank in 2014.
Knack Packaging IPO Sees Strong Retail Demand; Subscriptions Close on July 3.
Economy Business
📅 02 Jul 2026
Knack Packaging Limited, a leading player in the manufacturing of woven sacks and flexible packaging solutions, launched its much-awaited Initial Public Offering (IPO) in early July 2026. By July 2, the public issue witnessed immense subscription rates, particularly driven by aggressive bidding from retail investors. The grey market premium (GMP) indicated a robust 16% listing gain, showcasing strong investor confidence in the manufacturing sector.
Key Highlights
- IMPORTANT POINT: Fund Utilization — The company officially declared that the capital raised will primarily fund the massive expansion of its manufacturing capabilities in Gujarat to meet rising export demands.
- IMPORTANT POINT: Export Strength — Knack Packaging currently exports its industrial bags to over 40 countries, supplying industries spanning agriculture, cement, and chemicals.
- IPO Regulation — In India, the entire IPO process and stock market listings are strictly regulated by the Securities and Exchange Board of India (SEBI).
Important Facts
- An IPO is the process by which a privately held company offers shares to the public for the first time to raise capital.
- Post an IPO, the company’s shares are actively traded on public stock exchanges like the BSE and NSE.
- The Grey Market Premium (GMP) is an unofficial indicator showing the premium at which IPO shares are trading before officially listing on the exchange.
RBI Imposes ?2 Crore Penalty on Central Bank of India.
Economy Business
📅 02 Jul 2026
In a strict regulatory action on July 2, 2026, the Reserve Bank of India (RBI) imposed a massive monetary penalty of ?2 Crore on the Central Bank of India. The severe penalty was levied due to the state-owned lender's stark non-compliance with the RBI’s directives on "Customer Protection" and "Fraud Classification and Reporting." This action underscores the central bank’s zero-tolerance policy towards lapses in internal audits and consumer security.
Key Highlights
- IMPORTANT POINT: Regulatory Act — The penalty has been officially imposed under the provisions of the Banking Regulation Act, 1949.
- IMPORTANT POINT: Inspection Findings — A statutory inspection by the RBI revealed that the bank delayed reporting a massive cyber fraud incident by several weeks.
- Central Bank MD — M. V. Rao is the current Managing Director and CEO of the Central Bank of India.
Important Facts
- The Central Bank of India is a major public sector bank, distinct from the Reserve Bank of India, which is the nation's central regulatory bank.
- It holds the distinction of being the first Indian commercial bank wholly owned and successfully managed by Indians since its establishment.
- Its famous corporate tagline is "Central to You Since 1911", reflecting its deep-rooted legacy.
Fire-Boltt Announces USD 50 Million Investment to Foray into the Smartphone Market.
Economy Business
📅 01 Jul 2026
On July 1, 2026, the homegrown smart wearables giant Fire-Boltt officially announced its plans to foray into the highly competitive smartphone market. To support this strategic expansion, the company committed an initial investment of USD 50 million (approx. ?415 crore). By entering the smartphone space, Fire-Boltt aims to challenge established global players in the budget and mid-range segments, capitalizing on its vast distribution network.
Key Highlights
- IMPORTANT POINT: Target Audience — The company plans to launch aggressive, feature-rich smartphones priced under ?15,000, targeting the Tier-2 and Tier-3 cities in India.
- IMPORTANT POINT: Make in India — Aligning with the government’s PLI scheme, the manufacturing of these smartphones will be done entirely domestically to push the "Make in India" initiative.
- Company Founders — Fire-Boltt was co-founded by Arnav Kishore and Aayushi Kishore in 2015 and is headquartered in Noida, Uttar Pradesh.
Important Facts
- India is currently the second-largest smartphone market in the world, heavily dominated by brands like Xiaomi, Samsung, and Vivo.
- The Government of India has introduced the Production Linked Incentive (PLI) scheme to encourage massive domestic manufacturing of mobile components.
- Fire-Boltt's entry marks a significant shift as homegrown tech accessories brands attempt to break into the complex mobile hardware industry.
State Bank of India (SBI) Celebrates Its 71st Foundation Day on July 1.
Banking & Finance
📅 01 Jul 2026
On July 1, 2026, the State Bank of India (SBI), the nation's largest and oldest commercial bank, celebrated its glorious 71st Foundation Day. Formed officially in 1955, SBI has grown into a financial behemoth that serves over 50 crore customers globally. To mark the occasion, the bank launched a series of new digital banking features tailored for MSMEs and agricultural sectors, further promoting financial inclusion and digital literacy.
Key Highlights
- IMPORTANT POINT: Historical Roots — The State Bank of India was originally formed by nationalizing the Imperial Bank of India under the State Bank of India Act, 1955.
- IMPORTANT POINT: Market Dominance — With thousands of branches globally, SBI controls over 20% of the total market share in deposits and advances in India.
- Tagline — One of the famous taglines of SBI is "The Banker to Every Indian". Its headquarters is located in Mumbai.
Important Facts
- SBI is a public sector banking and financial services statutory body headquartered in Maharashtra.
- It is historically descended from the Bank of Calcutta, founded in 1806, making it the oldest commercial bank in the Indian subcontinent.
- In 2017, SBI underwent a massive merger, integrating five of its associate banks and the Bharatiya Mahila Bank.