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Banking Awareness Current Affairs
18th April, 2025
Revision points (LAST WEEK)
❑ Viral Davda, a professional with more than 20 years of experience, has been appointed as Deputy Chief
Information Officer (CIO) at Bombay Stock Exchange Limited (BSE).
❑ Neelam Dhungana Timsina appointed as acting Governor of Nepal Rastra Bank
❑ RBI Launches WhatsApp Channel for Verified Financial Updates
❑ SC Ralhan Appointed as President of FIEO till 2027
❑ NPCI BHIM Services Limited (NBSL) introduced BHIM 3.0, the newest version of the Bharat Interface for
Money (BHIM) app
❑ SBI has discontinued its limited-period Amrit Kalash Fixed Deposit scheme, which offered a 400-day deposit
with interest rates of 7.10% for regular investors and 7.60% for senior citizens.
❑ Reserve Bank of India approved a significant update to the UPI framework by allowing the National
Payments Corporation of India (NPCI) to raise transaction limits for person-tomerchant (P2M) payments •
❑ Trump unveils ‘discounted’ reciprocal tariffs, India to be charged 27%
❑ Reserve Bank of India (RBI) announced that it will retain the existing Foreign Portfolio Investor (FPI)
investment limits in government and corporate bonds for the financial year 2025-26.
❑ Bandhan Bank has launched the Elite Plus Savings Account, targeting high net-worth individuals (HNIs).
❑ The Ministry of Finance is set to roll out the ‘One State-One RRB’ strategy to improve operational efficiency
and reduce costs that will bring down the number of Regional Rural Banks (RRB) from 43 to 28.
❑ MeitY launches Digital Threat Report 2024 for banking, financial services, insurance sector
❑ The first bi-monthly monetary policy of the RBI for the 2025-26 financial year was announced by the RBI
Governor, Sanjay Malhotra, in Mumbai on 9 April 2025.
❑ The RBI’s 2023-24 Remittances Survey reveals a historic shift: Advanced Economies (AEs) now
contribute over 50% of India’s remittances, surpassing the Gulf (37.9%) for the first time. This reflects
changing migration patterns and economic priorities.
❑ Ministry of Statistics and Programme Implementation (MoSPI), Government of India, released the 26th
edition of its publication titled “Women and Men in India 2024: Selected Indicators and Data”.
QUESTION OF THE DAY
Who has been appointed as the Deputy Chief Information Officer (CIO) at Bombay Stock Exchange Limited (BSE) ?
A) Sanjay Malhotra
B) Viral Davda
C) Neeraj Mittal
D) Arvind Subramanian
TCS appoints Aarthi Subramanian as Executive Director President & COO
▪ Tata Consultancy Services (TCS), India’s largest information technology
services firm, announced the appointment of Aarthi Subramanian as executive
director-president and chief operating officer of the company.
▪ She will be the first woman to take over as the COO in the software company.
▪ The appointment is for a term of five years, commencing from May 1, 2025, to
April 30, 2030.
▪ N Chandrasekaran, Chairman, Tata Sons
Former Finance Secretary Pandey appointed vice-president at AIIB
▪ Ajay Bhushan Pandey, former Finance Secretary and CEO of Aadhaar, has
been appointed as the Vice President of Investment Solutions at the
Asian Infrastructure Investment Bank (AIIB), headquartered in Beijing.
▪ Jin Liqun of China is the AIIB's president and chair of the board of
directors
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BharatPe-controlled Trillionloans appoints Sandeep Singh the Chief
Executive Officer
▪ Digital-first RBI-regulated NBFC Trillionloans Fintech, a subsidiary
of BharatPe, has appointed Sandeep Singh as its chief executive
officer (CEO).
Bank of Maharashtra install India’s first ATM on a Train
▪ The public sector bank, Bank of Maharashtra, has become the first bank to
install an automated teller machine (ATM) on a train in india.
▪ The ATM was installed on the Mumbai-Manmad Panchavati Express. This is
the first time an ATM has been installed on an Indian Railway train.
▪ The Panchavati Express is an intercity train that connects Mumbai’s
Chhatrapati Shivaji Maharaj Terminus (CSMT) to Manmad in Nashik district.
▪ If the experiment proves successful, it will be extended to other trains.
About ATM in India
▪ John Shepherd-Barron of Great Britain is credited with inventing the ATM. In
1967, the British Bank, Barclays, was the first in the world to install an ATM
in London.
▪ Another British Bank, HSBC, installed the first ATM in India in Mumbai on 27th June 1987.
▪ In 2004, SBI installed India’s first floating ATM aboard a ferry travelling from Ernakulam to Vypeen in Kochi,
Kerala.
▪ India’s highest ATM, situated at 13200 feet, has been installed by the private sector bank Axis Bank at Nahtu-
La in Sikkim.
▪ India’s first UPI-enabled ATM was launched by Hitachi Payment Services, a subsidiary of Hitachi Limited of
Japan.
Zepto renames parent entity Kiranakart Tech, ahead of
possible IPO
▪ The quick-commerce startup Zepto has officially
changed the name of its parent company from
KiranakartTechnologies Private Limited to Zepto
Private Limited, a move aimed at preparing for a
potential stock market debut.
▪ Aadit Palicha and Kaivalya Vohra are the co-founders
of Zepto
State of Social Protection Report 2025
▪ State of Social Protection Report 2025 was released
recently by the World Bank.
▪ It reveals that 1.6 billion individuals receive no social
protection at all. As of 2025, nearly two billion people
in low- and middle-income countries lack adequate
social protection.
▪ The report emphasises the urgent need for reforms to
address these gaps and improve the lives of the poor.
Current State of Social Protection
▪ According to the report, over 80 per cent of people in low-income countries (LICs) lack access to social
protection.
▪ In lower-middle-income countries (LMICs), more than 30 per cent are inadequately covered.
▪ The crisis is more pronounced in sub-Saharan Africa, where over 70 per cent of the population has no access
to any form of social protection.
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Progress and Challenges
▪ Between 2010 and 2022, LICs and LMICs made progress in expanding social protection. Coverage increased
from 41 per cent to 51 per cent. Most advancements stemmed from social assistance programmes like cash
transfers.
▪ Despite improvements, gaps remain, with 75 per cent of people in LICs still lacking coverage.
▪ If current trends persist, it may take until 2043 to fully cover those living in extreme poverty.
▪ The report warns that without acceleration, achieving Sustainable Development Goals by 2030 will remain
unattainable.
▪ Climate change exacerbates vulnerabilities, potentially pushing an additional 130 million people into
extreme poverty.
Financing and Resource Allocation
▪ Countries currently spend an average of 5.3 per cent of their GDP on social protection.
▪ High-income countries spend more, creating disparities in support.
▪ Most low-income countries allocate only 0.8 per cent of GDP to social assistance. Redirecting subsidies from
fossil fuels and agriculture could free up resources for targeted support.
Automotive Industry Landscape in India
▪ India’s premier think tank, NITI Aayog, in collaboration with CRISIL, released the
report titled “Automotive Industry: Powering India’s Participation in Global
Value Chains”, outlining a strategic roadmap to make India a key global auto
component manufacturing hub.
• Global Ranking & Output: India is the 4th largest automobile producer globally,
with 28 million vehicles manufactured in 2023–24 across all segments (two-
wheelers to commercial vehicles).
• Export Trends: Auto component exports reached $20 billion, forming 3% of global
trade in 2023. India aims to triple exports to $60 billion by 2030.
• Domestic Market Growth: A booming middle class and policy incentives have led
to increased demand for EVs and small cars.
• Value Chain Positioning: India’s trade ratio of auto components is 0.99 (balanced
import-export), highlighting untapped export potential.
• Policy Support: Key government schemes include PLI, FAME-II, PM E-Drive,
and ACC Battery Storage—catalysts for manufacturing scale-up.
J&K: Campaign under ‘SVANidhi Se Samriddhi’ and ‘Main Bhi Digital’ initiatives concluded
▪ Organiser:Housing and Urban Development Department, Jammu & Kashmir.Campaign
▪ Duration:Held from April 7 to 12 across 17 Urban Local Bodies.
▪ Campaigns Involved:‘SVANidhi Se Samriddhi’‘Main Bhi Digital’
Main Bhi Digital’
• Aimed to empower vendors with digital payment tools.
• Provided training and support from:
• Banks
• Digital aggregators
Campaign under ‘SVANidhi Se Samriddhi’
▪ To uplift street vendors by: Linking them to central welfare schemes, and Enhancing their access to digital
financial services.
Focused on financial and social inclusion through key welfare schemes:
• PM Jeevan Jyoti Bima Yojana (PMJJBY)
• PM Suraksha Bima Yojana (PMSBY)
• Ayushman Bharat
• PM Matru Vandana Yojana
• Janani Suraksha Yojana
• Jan Dhan Yojana
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Cargo traffic on India’s inland waterways surges to all-time high of 145.5
million tonnes in 2024-25
▪ The Inland Waterways Authority of India (IWAI) has achieved a record-
breaking 145.5 million tonnes of cargo movement on the country’s
national waterways during the fiscal year 2024-25
▪ The all-time high cargo movement has come along with the total
number of operational waterways increasing from 24 to 29 during the
year
▪ Cargo traffic on National Waterways has increased from 18.10 MMT to
145.5 MMT between FY-14 and FY-25, recording a compound annual
growth (CAGR) of 20.86 per cent.
▪ In FY-25, traffic movement registered a growth of 9.34 per cent year-
on-year from FY-24.
▪ Five key commodities, including coal, iron ore, iron ore fines, sand and
fly ash, constituted over 68 per cent of the total cargo moved on national waterways (NWs) during the year.
NITI Aayog Report on India’s Hand and Power Tools Sector Potential
▪ NITI Aayog has released a report titled “Unlocking Rs. 2,13,925+ crore (US$ 25+ billion) Export potential -
India’s hand & power tools sector”.
▪ The global trade market for power and hand tools, valued at $100bn, is projected to reach Rs. 16,25,830
crore (US$ 190 billion) by 2035.
▪ Hand tools are expected to expand from Rs. 2,90,938 crore (US$ 34 billion) to Rs. 5,13,420 crore (US$ 60
billion).
▪ In contrast, power tools, including tool accessories, are anticipated to surge from Rs. 5,39,091 crore (US$ 63
billion) to Rs. 11,46,638 crore (US$ 134 billion).
Current Export Status:
▪ Hand Tools: ₹5,134 crore (US$ 600 million) – 1.8% global share
▪ Power Tools: ₹4,022 crore (US$ 470 million) – 0.7% global share
Future Potential:
▪ Target exports of ₹2,13,925 crore (US$ 25 billion) over the next 10 years
▪ Aiming for 10% global share in power tools and 25% in hand tools
Job Creation:
▪ Estimated 35 lakh jobs through market share expansion
NFO Tracker: Nippon Life India Asset Management launches two
index funds
▪ Nippon Life India Asset Management (NAM India) has
launched two new open-ended index funds - Nippon India
Nifty 500 Quality 50 Index Fund and Nippon India Nifty
500 Low Volatility 50 Index Fund.
▪ The funds aim to provide investors with unique, cost-
effective and diversified exposure to the Indian equity
market by tracking the Nifty 500 Quality 50 Index and Nifty 500 Low Volatility 50 Index respectively
▪ The New Fund Offer (NFO) for both funds will open for subscription on April 16, 2025 and close on April 30,
2025.
▪ Investors would require a minimum investment amount of ₹1,000 during the NFO and in multiples of ₹1
thereafter.
▪ These funds are designed to provide investors with diversified exposure to top-performing companies across
large, mid, and small-cap segments while providing targeted benefits such as low-cost entry, lower volatility,
and better risk-adjusted returns.
▪ Jitendra Tolani serves as the designated fund manager for both schemes.
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NITI Aayog Releases Report on Automotive Sector’s Global Competitiveness
▪ NITI Aayog released a report titled ‘Automotive Industry: Powering India’s Participation in Global Value
Chains’, launched by Vice Chairman Shri Suman Bery, senior members, and the CEO of NITI Aayog.
▪ The report outlines India’s Global Value Chain (GVC) potential in the automotive sector and highlights
strategic pathways for global leadership.
▪ India’s automotive industry is a cornerstone of the nation’s manufacturing and economic growth,
contributing 7.1% to India’s Gross Domestic Product (GDP) and 49% to manufacturing GDP.
Global Automotive Component Market (2022)
• Total Market Value: $2 trillion
• International Trade Volume: $700 billion (i.e., 35% of the global market is traded across borders)
India’s Position in Global Auto Component Trade
• Global Trade Share: Only 3% (~$20 billion)
• Implication: Despite a strong manufacturing base, India has low global integration in the auto component
value chain.
• Trade Ratio: Approximately 0.99, indicating a near balance between exports and imports of auto
components.
Segmental Penetration – High-Precision & High-Value Components
• India's Global Trade Share:
• Engine & Engine Components: Only 2–4%
• Drive Transmission & Steering Systems: Only 2–4%
• Inference: India’s domestic manufacturing still lacks global competitiveness and depth in high-precision,
high-tech segments.
Strategic Importance of the Automotive Sector
• Contributes 7.1% to India’s GDP and 49% to manufacturing GDP.
• Employs millions and supports critical linkages across steel, electronics, and IT sectors.
• India's current share in globally traded auto components is approximately 3% or 20 billion.
Rise of Electric Vehicles (EVs):
• EVs are reshaping manufacturing priorities, with China producing over 8 million EVs in 2023.
• The EU and the US are accelerating EV adoption through regulatory mandates and subsidies.
Digital and Advanced Manufacturing:
• Integration of AI, robotics, digital twins, Internet of Things (IoT), and 3D printing is driving efficiency.
Sustainability and Circular Economy:
• Automakers are moving toward carbon neutrality, material recycling, and energy efficiency.
Sectoral Interdependence:
• Auto industry is a major consumer of steel, electronics, rubber, glass, textiles, and IT services.
• Increasing reliance on semiconductors and AI-driven software for innovative mobility solutions.
Major Government Interventions
▪ Make in India: Launched in 2014, the Make in India initiative has provided a significant boost to the
country’s manufacturing sector, particularly in automobiles.
▪ This policy promotes domestic manufacturing, reduces reliance on imports, and encourages foreign direct
investment.
▪ Atmanirbhar Bharat: The Atmanirbhar Bharat initiative aims to foster self-sufficiency in manufacturing and
reduce the country’s dependence on foreign components.
▪ FAME India Scheme (Phases I & II): The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles
(FAME) scheme has been pivotal in promoting clean mobility in India. Phase II, with an outlay of ₹11,500
crore, focuses on demand incentives for electric two-wheelers, three-wheelers, buses, and the development
of public charging infrastructure.
PM E-Drive Scheme (2024–26): Launched to accelerate EV adoption and reduce urban pollution, this scheme has a
budget of ₹10,900 crore and targets large-scale procurement of electric vehicles:
• 24.79 lakh electric two-wheelers
• 3.2 lakh electric three-wheelers
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• Procurement of 14,028 electric buses by State Transport Undertakings (STUs)/public transport agencies
• ₹2,000 crore earmarked for national-level charging infrastructure expansion.
BharatPe Gets RBI Approval for Payment Aggregator Business
▪ BharatPe, a prominent Indian fintech company, has achieved a significant milestone by receiving final
approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
▪ BharatPe announced the upcoming launch of its online PA platform -- 'BharatPe X’.
▪ This development allows BharatPe to expand its ecommerce transaction settlement services, now under RBI
regulation
▪ Founders: Ashneer Grover, Shashvat Nakrani
▪ CEO: Nalin Negi (3 Jan 2023–)
▪ Parent: Resilient Innovations Private Limited
▪ Founded: April 2018
Razorpay Launches ‘Turbo UPI’ Plugin to Revolutionize Digital
Payments
▪ Fintech firm Razorpay has partnered with NPCI BHIM
Services Ltd (NBSL) and Axis Bank to launch the Razorpay
Turbo UPI plugin on the BHIM Vega platform.
▪ The solution enables businesses to offer seamless in-app
payment experiences, allowing customers to complete
transactions instantly without switching to third-party apps
▪ Single source for dispute resolution and refund handling in case of payment failure or refunds
▪ 5x faster UPI payment versus regular UPI payments.
Centre launches ‘Global Tariff and Trade Helpdesk’ to assist stakeholders in
navigating trade issues
▪ The Directorate General of Foreign Trade (DGFT) has launched a
dedicated ‘Global Tariff and Trade Helpdesk’.
▪ To help stakeholders navigate emerging trade issues amid the evolving
global trade landscape, including new tariff and counter-tariff
measures.
▪ The helpdesk aims to assist in identifying - New export opportunities, and Import pressures from specific
countries or product sectors.
▪ The ‘Global Tariff Challenges Helpdesk’ would look into issues relating to Import and Export Challenges,
Import Surges or Dumping, EXIM Clearance, Logistics or Supply Chain Challenges, Financial or Banking issues,
Regulatory or Compliance Issues, and Other Issues or Suggestions
REVISION QUESTIONS
Which organization released the "State of Social Protection Report 2025"?
A. United Nations Development Programme
B. World Bank
C. International Labour Organization
D. World Economic Forum
Answer: B
Which bank has partnered with Razorpay to launch the Turbo UPI plugin on the BHIM Vega platform?
A. HDFC Bank
B. ICICI Bank
C. State Bank of India
D. Axis Bank
Answer: D
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According to the “Automotive Industry: Powering India’s Participation in Global Value Chains” report released by
NITI Aayog in collaboration with CRISIL, what was India’s global rank in automobile production as of 2023–24?
A. 2nd
B. 3rd
C. 4th
D. 5th
Answer: C
Which company has launched two new open-ended index funds named Nifty 500 Quality 50 Index Fund and Nifty
500 Low Volatility 50 Index Fund?
A. Nippon Life India Asset Management
B. HDFC Asset Management
C. SBI Mutual Fund
D. ICICI Prudential Mutual Fund
Answer: A
Who has been appointed as the Executive Director-President and Chief Operating Officer (COO) of Tata
Consultancy Services (TCS) starting May 1, 2025?
A. N Chandrasekaran
B. Aarthi Subramanian
C. Rajesh Gopinathan
D. Falguni Nayar
Answer: B
QUESTION OF THE DAY
What is the current global market share of India in hand tools exports, according to the NITI Aayog report titled
“Unlocking Export potential - India’s hand & power tools sector”?
A. 0.5%
B. 1.2%
C. 1.8%
D. 2.5%
Answer: C
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