Banking_and_Financial_Apr-Jul2026

NHB Launches ‘Gruh Sugam’ Portal for Digital Home Loans The National Housing Bank launched the Gruh Sugam Portal. This digital platform is designed to simplify the home loan application process specifically for government, defense, and paramilitary personnel, allowing them to apply for loans from any location. Centralized Marketplace: Acts as a bridge connecting borrowers directly with multiple lending institutions. Govt. Maintains Interest Rates for Small Savings Schemes (Q1 FY 2026-27) The Ministry of Finance has announced that interest rates for all Small Savings Schemes will remain unchanged for the first quarter of the financial year 2026–27. This is the eighth consecutive quarter where the government has kept these rates stable to support small investors. The Announcement The following rates are applicable for the period of April 1, 2026, to June 30, 2026 Consistency: Rates have not been modified since the fourth quarter of FY 2023–24 (January–March 2024). Highest Interest Schemes: Sukanya Samriddhi Yojana (SSY) and Senior Citizen Savings Scheme (SCSS) both at 8.2%. Oldest Active Scheme: Post Office Savings Deposit (tracing back to the British era, 1882). Latest Major Scheme: Sukanya Samriddhi Yojana (launched in 2015 under the 'Beti Bachao Beti Padhao' campaign) Small savings rates are reviewed quarterly and are broadly guided by yields on government securities. Term Deposits and Recurring Deposit Deposit Type Interest Rate (Q1 FY27) Tenure / Period 1-Year Time Deposit 6.9% 1 Year 2-Year Time Deposit 7.0% 2 Years 3-Year Time Deposit 7.1% 3 Years 5-Year Time Deposit 7.5% 5 Years (Highest TD Rate) 5-Year Recurring Deposit (RD) 6.7% 5 Years (Monthly Deposits) Interest Rates for Popular Schemes Scheme Name Interest Rate (Q1 FY27) Key Feature / Maturity Sukanya Samriddhi Yojana (SSY) 8.2% Highest Rate (Targeted at girl child) Senior Citizen Savings Scheme (SCSS) 8.2% Highest Rate (For individuals aged 60+) National Savings Certificate (NSC) 7.7% Tax-saving (Current structure is 5 years) Kisan Vikas Patra (KVP) 7.5% Doubles in 115 months Monthly Income Scheme 7.4% Monthly interest payout to investors Public Provident Fund (PPF) 7.1% 15-year long-term tax-free savings Post Office Savings Deposit 4.0% Highly liquid basic savings account UPI Records Historic 22.64 Billion Transactions in March 2026 The Department of Financial Services and National Payments Corporation of India reported that UPI transactions reached a record high of 22.64 billion in volume in March 2026. • • • • • • • • • • • • Learning Niti CROSSWORD · MONTHLY MAGAZINE APRIL 2026 B A N K I N G & I N S U R A N C E Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 25 Anjall 7668555186Growth and Statistics (March 2026) Transaction Volume: 22.64 billion transactions were recorded in March 2026. Transaction Value: The total value touched ₹29.53 lakh crore. Daily Average: India averaged 730 million transactions per day in March. Year-on-Year (YoY) Growth: Volume grew by 24% (compared to 18.3 billion in March 2025), value grew by 19%. Global and Domestic Impact Market Share: UPI now accounts for 85% of all digital transactions in India. Global Presence: UPI is live (fully operational) in 8 countries: UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar. Global Scale: It powers nearly 50% of global realtime digital payments. UPI - Last Three Months Comparison (FY 2025-26) Month Volume (in Billion) Value (in ₹ Lakh Crore) January 2026 21.70 28.33 February 2026 20.39 26.84 March 2026 22.64 29.53 CBDT Shields Pre-2017 Investments from GAAR Scrutiny The Central Board of Direct Taxes has officially amended the Income-tax Rules to clarify that investments made before April 1, 2017, are fully protected from the General Anti-Avoidance Rules (GAAR). This move aims to provide tax certainty and prevent the "retrospective" application of strict anti-evasion laws on old assets. The Old Rule (The "Vague Promise") Since 2017, the law said: "Investments made before April 1, 2017, are protected from these tough new tax-evasion rules (GAAR)... without prejudice to any other parts of the tax law." The Problem: That phrase "without prejudice" is a legal back door. It basically meant: "We won't use GAAR to tax your old investments, UNLESS we find some other reason or some other rule that lets us do it anyway." Because of this "But...", tax officers were still trying to tax old investments by claiming the "structure" The New Rule (The "Absolute Promise") The CBDT (the tax department) has now deleted those two words: "without prejudice." The Result: The protection is now absolute. There are no more "Buts." If you bought your shares or property before April 1, 2017, the GAAR rules simply cannot touch you when you sell them, no matter what. What is Protected and What is Not: Protected (Grandfathered): Any income or gains arising from the transfer (sale) of investments made before April 1, 2017. This protection applies even if the exit happens today or in the future. Not Protected: Investments made on or after April 1, 2017. Other types of income like Dividends or Interest arising after 2017 (even from old investments) may still face GAAR scrutiny if the structure is deemed an avoidance arrangement. Impact on Investors Tax Certainty: Reduces litigation for Private Equity (PE) and Venture Capital (VC) funds holding legacy Indian portfolios. IRDAI Designates LIC, GIC Re, and New India Assurance as D-SIIs for FY26 The Insurance Regulatory and Development Authority of India has officially retained three major insurance companies LIC , GIC Re, and New India Assurance as Domestic Systemically Important Insurers (D-SIIs) for the financial year 2025-26. Objective: To ensure the financial stability of "Too Big To Fail" insurers through stricter oversight, protecting policyholders and the broader Indian economy from systemic shocks. The Three Domestic Systemically Important Insurers (D-SIIs) These three entities have been identified based on their market share, size, and high interconnection within the financial system: Life Insurance Corporation of India (LIC): The largest life insurer in India, providing coverage to millions. • • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 26 Anjall 7668555186New India Assurance Company Limited: The largest non-life (general) insurance company in the country. General Insurance Corporation of India (GIC Re): The only state-owned reinsurer in India, which supports other insurance companies by sharing their risks. Enhanced Regulatory Requirements Because of their D-SII status, these companies must follow much stricter rules than standard insurers: Stricter Governance: They must adhere to enhanced corporate governance standards. Risk Management: They are required to maintain robust frameworks to handle large-scale risks. Continuous Oversight: IRDAI conducts regular monitoring to ensure they remain financially strong. Higher Accountability: These firms face increased transparency and accountability in their daily operations. NSE & IGX to Launch India’s First Domestic Natural Gas Futures The National Stock Exchange is collaborating with the Indian Gas Exchange to launch India’s first exchange-traded natural gas derivatives. Objective: To enhance market efficiency, deepen liquidity, and support the growth of a transparent and competitive gas market in India. Approval: Received from the Securities and Exchange Board of India (SEBI). Benchmark & Pricing Mechanism Index Name: GIXI (Gas IndeX of India). CASA Ratio Hits 2-Year Low: RBI Data Insights The Reserve Bank of India data for the December 2025 quarter (Q3 FY26) shows the CASA ratio has dropped to 37.9%, the lowest level in two years. The Decline in CASA Ratio Current Status: The CASA ratio fell to 37.9% in the Dec 2025 quarter. Comparison with Previous Quarters: Q2 FY26 (Sept 2025): The ratio was approximately 38.8%. Q3 FY25 (Dec 2024): The ratio stood at 38.3%. Core Reason: Investors are "chasing yields" by moving idle cash from savings accounts (2.5–3.5% interest) into the stock market, mutual funds, SIPs, and gold. 11 Years of Pradhan Mantri MUDRA Yojana (PMMY): Empowering India's MicroEnterprises The Pradhan Mantri MUDRA Yojana, launched on April 8, 2015, has completed 11 years of driving financial inclusion. The scheme provides collateral-free loans to noncorporate, non-farm small enterprises to fuel grassroots entrepreneurship and economic growth. Nodal Ministry- Ministry of finance Key Performance Milestones (As of March 2026) Total Disbursals: Over 57 crore loan accounts totaling ₹40.07 lakh crore. New Entrepreneurs: Over 12 crore accounts belong to first-time entrepreneurs. MUDRA Ltd. Profit: Reported its highest-ever profit of ₹827 crore in FY 2024-25. Four Distinct Loan Categories The scheme categorizes loans based on the growth stage of the business: Shishu: Loans up to ₹50,000 (for early-stage/startup businesses). Kishor: Loans from ₹50,001 to ₹5 lakh (for stabilization/initial expansion). Tarun: Loans from ₹5,000,01 to ₹10 lakh (for scaling up operations). Tarun Plus: Loans from ₹10 lakh to ₹20 lakh (Introduced in 2024 for those who successfully repaid Tarun loans). Institutional Architecture: The credit flows through a three-tier structure MUDRA Ltd: Acts as a refinancing agency for lending institutions. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 27 Anjall 7668555186Member Lending Institutions (MLIs): Includes Public & Private Sector Banks, RRBs, SFBs, NBFCs, and MFIs. Beneficiaries: Micro-enterprises engaged in manufacturing, trading, or services. Coverage & Eligible Activities Business Loans: For vendors, shopkeepers, and service providers. Equipment Finance: For purchasing machinery. Transport: Commercial vehicles (Auto-rickshaws, erickshaws, small goods vehicles). Agri-Allied: Non-farm activities like poultry, dairy, fishery, and bee-keeping. Social Impact & Inclusive Growth (FY 2024-25 Data) Women Empowerment: 59.81% of total accounts belong to women (37.45% of disbursed amount). Social Inclusion: SC, ST, and OBC categories hold 45.52% of loan accounts. Top 3 States (Disbursements): 1. Uttar Pradesh (₹58,111 crore) 2. Bihar (₹54,064 crore) 3. Maharashtra (₹50,762 crore) The Digital Ecosystem JanSamarth Portal: A digital platform covering 14 credit-linked schemes and 200+ lenders to simplify the application process. CGFMU: The Credit Guarantee Fund for Micro Units reduces risk for banks by providing guarantee covers for collateral-free loans. Bank of Baroda Launches 'bob SAMVAD' AI Platform Bank of Baroda has launched bob SAMVAD, an industry-first, in-house AI-powered multilingual conversational platform. Key features include: Multilingual Support: Covers 22 languages to embrace India’s linguistic diversity. Text and optional voice interaction for accessibility Contextual accuracy and natural fluency in translations Rollout Plan (Phase 1) The platform will initially be deployed across 250 branches in the following states: Tamil Nadu Karnataka Telangana Andhra Pradesh Maharashtra CCI Approves ₹2,750 Crore Stake Acquisition in Aditya Birla Housing Finance The Competition Commission of India has cleared a ₹2,750 crore deal for Indriya Limited to acquire a 14.286% equity stake in Aditya Birla Housing Finance Limited. Stake Acquired: 14.286% (on a fully diluted, postissue basis). Parent Holding: Following this capital infusion, Aditya Birla Capital’s stake in ABHFL will dilute to approximately 85.7%. Indriya Limited Entity Type: An investment holding company managed by Advent International. Aditya Birla Housing Finance Limited Type: A Housing Finance Company registered with the National Housing Bank. Category: Non-deposit-accepting HFC. Core Services: Provides home loans, loans against property, construction finance, and lease rental discounting. Bajaj Alternate Investment Management Secures SEBI PMS License Bajaj Alternate Investment Management (Bajaj Alts), a subsidiary of Bajaj Finserv, has received official approval from the markets regulator SEBI to begin offering Portfolio Management Services. Diversified Platform: With the addition of the PMS license, Bajaj Alts now offers a comprehensive range of solutions across Alternative Investment Funds (AIFs) and Portfolio Management Services (PMS). • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 28 Anjall 7668555186Alternative Investment Funds: An AIF is a pooled investment vehicle that collects funds from various investors to invest in accordance with a defined investment policy. Asset Variety: Can invest in complex assets like startups (Venture Capital), private equity, hedge funds, or real estate. Portfolio Management Services: A PMS is an individualized investment service where a professional manager handles a portfolio of stocks or fixed-income products on behalf of a specific client. Individual Structure: There is no pooling; each client has a distinct portfolio tailored to their objectives. Direct Ownership: Investors hold direct ownership of the stocks, which remain in the investor’s own personal Demat account. IRDAI Forms Expert Panel to Revamp Private Health Insurance The Insurance Regulatory and Development Authority of India has constituted a high-level sub-committee under its Insurance Advisory Committee. This panel is tasked with a comprehensive review of the private health insurance sector to bridge gaps and improve the overall ecosystem for policyholders. The panel will evaluate current coverage, penetration levels, and the claims experience of users. It will review product design, grievance redressal mechanisms, and the overall consumer journey. The committee will recommend measures for better risk pooling and improved financial safety nets. Healthcare Ecosystem & Technology: The review includes the role of healthcare provider networks and hospital tariffs (pricing). Focus on strengthening fraud control and leveraging digital systems to add value to policyholders. A major priority is the adoption and scale-up of the National Health Claims Exchange. Integration with Public Schemes: The panel will study the interaction between private health insurance and public health insurance/ assurance schemes. It will explore opportunities for complementarity, portability, and convergence between government and private sectors. The sub-committee formed to revamp the private health insurance ecosystem is chaired by IRDAI Chairman Ajay Seth and comprises a total of seven members along with permanent invitees. Confirmed Panel Members The panel includes top regulatory officials and independent experts: Ajay Seth: Chairperson of the committee (also Chairman, IRDAI). Deepak Sood: Member (Non-Life) at IRDAI. Indu Bhushan: Former CEO of the National Health Authority (NHA). Monika Halan: Financial writer, author, and adjunct professor. Permanent Invitees Two industry leaders from major health insurance companies serve as permanent invitees to provide technical and operational insights: Sanjeev Mantri: MD & CEO of ICICI Lombard General Insurance. Krishnan Ramachandran: MD & CEO of Niva Bupa Health Insurance. Administrative Support Secretary of the IRDAI Board Secretariat: Acts as the convenor for the panel meetings. The National Health Claims Exchange (NHCX) is a digital gateway developed by the National Health Authority (NHA) under the Ayushman Bharat Digital Mission (ABDM) to standardise and automate health insurance claims in India. Think of it as the "UPI for health insurance” a common infrastructure that allows hospitals and insurers to speak the same digital language, making claim settlements faster and more transparent. Key Features and Functions Single Gateway: Hospitals can process claims for all participating insurers through one unified interface instead of managing multiple individual portals. Standardisation: Uses the FHIR R4 (Fast Healthcare Interoperability Resources) standard to ensure all claim data is exchanged in a uniform, machinereadable format. Real-Time Tracking: Provides a transparent view of the claim's status at every stage, from preauthorisation to final payment. Seamless Integration: Connects directly with the Ayushman Bharat Health Account (ABHA), allowing insurers to access a patient's medical history (with consent) for faster verification. The platform went live in June 2024 and has since seen rapid adoption: Participants: As of late 2024, 34 insurers/TPAs were live, with hundreds of hospitals (including major • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 29 Anjall 7668555186chains like Apollo and Fortis) in the onboarding process. Incentives: Under the Digital Health Incentive Scheme (DHIS), hospitals can receive up to ₹500 or 10% of the claim amount (whichever is lower) for transactions processed via NHCX. Mandatory Timeline: IRDAI has mandated that all cashless claims must be processed within three hours of receiving discharge authorisation, a goal heavily supported by NHCX infrastructure PNB Joins GeM Sahay to Provide CollateralFree Loans for Sellers Punjab National Bank has signed a Memorandum of Understanding with the Government e-Marketplace (GeM) to enhance financial access for sellers. Through this partnership, PNB becomes a lending partner on the GeM Sahay Portal, offering short-term, digital credit solutions to help businesses manage their finances. Objective: To empower MSMEs and small businesses by providing quick, collateral-free, and paperless credit against government purchase orders. Collateral-Free Financing: Sellers can obtain shortterm loans without providing any security or assets. Based on Purchase Orders: Loans are granted against existing GeM Purchase Orders, helping sellers get immediate cash to fulfill their contracts. KreditBee Joins Unicorn Club with $1.5 Billion Valuation Bengaluru-based fintech firm KreditBee has officially become a "Unicorn" after successfully raising $280 million in its latest funding round. This milestone marks the company's final private fundraising phase as it transitions toward an Initial Public Offering and expands its lending portfolio across India. KreditBee is notably the third unicorn of 2026, following Neysa and Juspay. The sector with the highest growth in the unicorn club recently remains Fintech and AI Infrastructure. A company is defined as a Unicorn when its private valuation crosses the $1 billion mark. Recent Indian Unicorns: Startup Name Industry / Sector Valuation ($) Month/ Year Neysa AI Cloud & Infrastructure $1.1 Billion Feb 2026 Juspay Fintech (Payment Gateway) $1.0 Billion Jan 2026 Krutrim Artificial Intelligence (AI) $1.1 Billion 2025 Rapido Logistics & Auto Mobility $1.1 Billion 2025 10 Years of UPI: India’s Digital Payment Revolution The Unified Payments Interface launched by the National Payments Corporation of India (NPCI) in 2016, has completed 10 years of operations. It has transitioned India from a cash-led economy to a leader in real-time digital payments, now accounting for nearly half of the world's real-time transactions. Growth and Scale Network Expansion: The system grew from 216 banks in 2021 to 691 banks by January 2026. Global Dominance: According to the Ministry of Finance, UPI holds approximately a 49% share in global real-time payment transaction volumes. International Reach: UPI has expanded beyond India and is now operational or linked with payment systems in: Middle East: UAE, Qatar. Southeast Asia: Singapore. Neighboring Nations: Bhutan, Nepal, Sri Lanka. Europe: France. Africa: Mauritius. • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 30 Anjall 7668555186Axis Bank Joins NBBL’s Banking Connect Platform Axis Bank has officially gone live on Banking Connect, a platform developed by NPCI Bharat BillPay Limited (NBBL). This move expands the network to 8 banks and 11 Payment Aggregators (PAs), creating a more unified system for internet banking. The Ecosystem With Axis Bank joining, the platform now has 8 major banks live, including SBI, ICICI Bank, and HDFC Bank. Payment Aggregators (PAs): The platform is integrated with 11 PAs. Customers can now transact across more than 4,800 merchants in India. Key Technical Advantages Interoperable Switch: Banking Connect acts as a central hub, removing the need for banks and PAs to maintain thousands of individual (bilateral) connections. Faster Settlements: The system supports same-day settlements, a major improvement over legacy cycles that took 1 to 5 days. Security Architecture: Features bank-grade authentication and centralized risk monitoring to ensure safe transactions. Bharat BillPay Limited (NBBL) It is a wholly-owned subsidiary of the National Payments Corporation of India (NPCI). It serves as the dedicated entity to manage and scale the Bharat Bill Payment System (BBPS), an interoperable ecosystem for recurring and nonrecurring bill payments across India. Retail Inflation and CPI Data Report: March 2026 The National Statistics Office has released the retail inflation data for March 2026. The headline inflation saw a marginal increase, primarily driven by rising prices in specific food items and the energy sector, influenced by the ongoing West Asia crisis. Inflation Statistics and Trends Headline Inflation: Inched up to 3.4% in March 2026 (compared to 3.21% in February). RBI Target: Remains below the Reserve Bank of India’s median target of 4%. Food Inflation: Increased to 3.87% in March from 3.47% in February. Segment-wise Inflation: Rural: 3.63% Urban: 3.11% Housing: 2.11% Fuel & Power: 'Electricity, gas and other fuels' rose to 1.65% (from 1.52% in February). Price Fluctuations in Commodities High Inflation Items: Gold and silver jewellery, coconut (copra), tomato, and cauliflower. Negative Inflation (Deflation) Items: Onion, potato, garlic, arhar dal, and chickpeas. State-wise Performance Highest Inflation: Telangana at 5.83%. Lowest Inflation: Mizoram at 0.66%. Paytm Launches Biometric UPI Payments and Cardless ATM Withdrawals Paytm has integrated Face ID and fingerprint authentication for UPI transactions and introduced a cardless cash withdrawal feature at ATMs. These updates utilize smartphone biometric sensors to replace manual PIN entry for small transactions and physical cards for cash access. Transaction Limit: In accordance with NPCI guidelines, biometric-verified payments are supported for amounts up to ₹5,000. Usage: Can be used for making payments and performing balance checks. Users scan a QR code on the ATM screen using the Paytm app and verify the transaction via Face ID, fingerprint, or UPI PIN. Benefits: Removes the necessity of carrying a physical debit card and allows users to choose from multiple linked bank accounts. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 31 Anjall 7668555186Transaction Limits: Per transaction limit: Generally up to ₹10,000. India's Wholesale Price Index (WPI) Analysis: March 2026 The Department for Promotion of Industry and Internal Trade released the Wholesale Price Index (WPI) for March 2026, showing an annual inflation rate of 3.88%. LIC Launches 'MyLIC' and 'Super Sales Saathi' Mobile Apps Life Insurance Corporation of India has launched two new mobile applications, MyLIC (for customers) and Super Sales Saathi (for agents), to improve digital accessibility and service efficiency. MyLIC App (Customer-Facing Features) This app is designed to eliminate paperwork and give policyholders full control over their insurance journey. Portfolio Management: View and manage all insurance policies in one place. Payments: Instant premium payment options. Benefits & Loans: Real-time tracking of policy benefits and access to paperless policy loans. Online Updates: Options to update policy details and revive lapsed policies online. New Purchases: Explore and buy new policies digitally through a fast and simple process. Verification: Secure and paperless e-KYC facility. Super Sales Saathi App (Intermediary Features) This app empowers LIC’s field force and agents with digital tools for better customer service. Sales Tools: Digital kits and product explainers for on-the-go presentations. Tracking: Real-time tracking of policy status and performance dashboards to monitor targets. Automation: Automated reminders for customer follow-ups and integrated communication tools. AI Integration: AI-driven nudges to enhance customer value and service. Onboarding: Streamlined digital tools for customer onboarding and policy servicing. HDFC Bank and Visa Launch FIFA World Cup 2026 Pixel Credit Card HDFC Bank has partnered with Visa to launch a limited-edition FIFA World Cup 2026 Pixel Credit Card alongside a nationwide "Spend & Win" campaign. This initiative allows Indian cardholders to win match packages and official merchandise through their everyday spending. The "Spend & Win" Campaign Scope: Unlike the specific Pixel card, this campaign covers HDFC Bank's entire card portfolio. Eligible Cards: Credit Cards Debit Cards Business Cards Forex Prepaid Cards Rewards & Prizes: Grand Prize: Live FIFA World Cup 2026 match packages (USA, Canada, and Mexico). FIFA-themed staycations. Official FIFA merchandise. Shopping vouchers. FIFA World Cup 2026 Hosts: United States, Canada, and Mexico. Format: Expanded to a 48-team format, making it the largest edition in history. Bank of Baroda & Reliance Jio Launch "bob World Lite" for JioPhone Bank of Baroda has partnered with Reliance Jio to launch the ‘bob World Lite’ app specifically for JioPhone devices. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 32 Anjall 7668555186This industry-first initiative allows feature phone users to access essential digital banking services without needing a smartphone. Platform: The app is available on JioPhone devices, debuting specifically on the JioPhone Prima 4G. Design: It features a lightweight and low-bandwidth design to ensure smooth performance even with limited internet connectivity. Accessibility: Uses simple keypad-based navigation designed for basic devices. Core Services: UPI-based Scan & Pay and money transfers. Bill payments and mobile recharges. Secure login and profile management. The app is not restricted to Bank of Baroda customers; users of any bank can use the service. Shriram Finance Subsidiary Gets RBI Approval for Primary Dealer Business Shriram Finance's wholly owned subsidiary, Shriram Overseas Investments Ltd, has received in-principle approval from the Reserve Bank of India to operate as a Primary Dealer. This move allows the company to participate directly in the government securities market. They act as specialized intermediaries that buy government bonds and bills directly from the RBI during auctions. Razorpay and OpenAI Partner to Simplify AI App Monetization Razorpay has collaborated with OpenAI to integrate payment capabilities directly into the Codex development workflow. This partnership allows developers to build, launch, and start earning from AI-driven applications almost instantly without setting up separate payment infrastructures. Target Audience: Specifically designed for student builders, solo founders, and early-stage startups. Expansion into ChatGPT and AI Commerce Razorpay is extending features to ChatGPT, allowing businesses to manage finances (tracking settlements, checking refund statuses, reconciling bank statements) via simple text prompts. In collaboration with the National Payments Corporation of India and OpenAI, Razorpay has introduced systems where AI can independently initiate and complete transactions. ADB Upgrades India’s GDP Growth Forecast for FY27 The Asian Development Bank has increased its growth projection for India’s Gross Domestic Product (GDP) to 6.9% for the fiscal year 2026-27 (FY27). FY27 (2026-27): Forecast raised to 6.9% (up from the previous estimate of 6.5%). FY28 (2027-28): Growth is expected to accelerate further to 7.3%. DGFT Authorizes 17 Banks for Gold & Silver Import (2026-2029) The Directorate General of Foreign Trade (DGFT) has officially notified a list of 17 banks authorized to import gold and silver into India for a three-year period. This notification ends a recent import halt caused by the expiration of previous annual licenses on March 31, 2026. Authorization Period & Scope Validity: The list is valid for three years, starting from April 1, 2026, to March 31, 2029. Total Agencies: 17 banks have been designated as "Nominated Agencies." Dual Import (Gold & Silver): 15 banks are authorized to import both metals. • • • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 33 Anjall 7668555186Single Import (Gold Only): 2 banks (Union Bank of India and Sberbank) are authorized for gold only. List of Authorized Banks Public Sector Banks: State Bank of India (SBI) Bank of India (BOI) Indian Overseas Bank (IOB) — Note: Upgraded from "Gold only" to "Gold & Silver". Punjab National Bank (PNB) Union Bank of India (Gold only) Private Sector Banks: HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank, RBL Bank, Yes Bank, Karur Vysya Bank. Foreign Banks: Industrial and Commercial Bank of China (ICBC) Deutsche Bank Sberbank (Russia-based) Authorized for Gold import only. World Bank Approves USD 225 Million for Rajasthan Highway Modernization The World Bank has approved a USD 225 million financing package to upgrade Rajasthan’s highway infrastructure. The project focuses on improving road efficiency, connectivity, and safety across key economic corridors, bridging the gap between the state’s high economic growth and its existing infrastructure needs. Lender: International Bank for Reconstruction and Development (IBRD), an arm of the World Bank. Total Funding: USD 225 Million. Maturity Period: 35 years. Grace Period: 5 years. Innovative Feature: Introduction of India’s first Step Up Loan where repayments start low during the highrisk initial phase and increase as the project becomes operational. Project Scope & Infrastructure Impact Highway Upgrades: Maintenance and upgrading of approximately 800–926 km of selected highway corridors. Road Quality Improvement: Aims to increase the share of roads in "good or fair" condition from 40% to 70%. Digital Systems: Deployment of traffic management and safety systems across 250 km of high-risk corridors, including Jaipur and Jodhpur. Singapore Leads FDI Inflows into India (April–December FY26) Singapore has emerged as the top source of Foreign Direct Investment for India during the first nine months (April–December FY26) of the 2025-26 financial year. The report highlights a total equity inflow of $47.87 billion, driven by technology sectors and significant contributions from traditional tax-friendly jurisdictions. Leading Investor Nations: Singapore: Ranked 1st with $17.6 billion (37% of total share). USA: Ranked 2nd with $7.8 billion (16% of total share). Mauritius: Ranked 3rd with $4.8 billion (10% of total share). Other Top Members: Japan and the UAE. Notable Surge from "Tax Havens": There was a sharp increase in investment from jurisdictions known for tax benefits: Cayman Islands: Five-fold increase to $2 billion (up from $422 million). Cyprus: Increased to $1.4 billion (up from $1.2 billion). Luxembourg: Rose to $545 million (up from $352.67 million). Sector-Wise Investment Distribution: The majority of the funds were directed toward technology and service-based industries: Computer Software & Hardware: Most attractive sector with $10.7 billion (22% share). Services Sector: Includes Banking, Finance, Insurance, and R&D (18% share). Top Performing Indian States: Investment remained concentrated in highly industrialized regions: Maharashtra: Highest recipient with $15.38 billion. Karnataka: Second highest with $11.15 billion. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Learning Niti CROSSWORD Monthly Magazine B A N K I N G & F I N A N C I A L APRIL 2026 Connect with Kapil Sir: @iamkapilkathpal @StudyYR @kkathpal Level Up Your Preparation with: "Learning Niti" App (Click to View) "Learning Niti" Website (Click to View) Get Crossword Current Affairs Package: https://www.learningniti.com/courses/399651 For Enquiry Mail at: [email protected] 34 Anjall 7668555186