Banking Awareness of 1, 2 and 3 November 2025

Topic: Banking System

1. City Union Bank has secured a funding commitment of $50 million from International Finance Corporation (IFC), which is a part of the World Bank Group.

• The aim of funding is to support MSMEs in moving towards to energy-efficient and cost-effective solutions.
• The funds will be used mainly for new lending and to refinance solar energy loans for micro, small, and medium enterprises (MSMEs).
• City Union Bank has experienced strong growth in solar financing over the past four to six quarters.
• It also plans to support wind energy projects for MSMEs.
• MSMEs contribute around 30% to India’s GDP and they face high energy costs.
• Moving towards renewable energy can help MSMEs and allow them to reduce expenses.
• IFC is world’s largest global development institution that focuses on private sector in emerging markets. It was established in 1956.
• It is headquartered in Washington, D.C., United States. 186 countries are its members.
• City Union Bank is a private-sector bank. It is headquartered in Tamil Nadu.

Topic: RBI

2. The Reserve Bank of India (RBI) held its 619th central board of directors meeting in Udaipur.

• The purpose of the meeting was to evaluate global and domestic economic trends.
• The meeting also covered geopolitical developments and financial market developments.
• The directors reviewed the performance of various sub-committees and operations of the Deposit Insurance and Credit Guarantee Corporation.
• The board of directors also reviewed functioning of selected Central Office Departments, including the Consumer Education and Protection Department.
• The meeting was presided over by RBI Governor Sanjay Malhotra.
• The meeting was attended by all deputy governors and other Central Board directors.
• Key attendees included Nagaraju Maddirala, Secretary of the Department of Financial Services and Anuradha Thakur, Secretary of the Department of Economic Affairs.
• Satish K Marathe, Revathy Iyer, Pankaj Ramanbhai Patel, and Ravindra H Dholakia were other attendees.

Topic: Reports and Indices

3. Manufacturing Purchasing Managers’ Index (PMI) increased to 59.2 in October from 57.7 in September.

• October PMI reflected 12th consecutive month of job creation.
• The surveys of purchasing managers from 400 companies form basis of PMI.
• PMI above 50 reflects growth. PMI below 50 reflects contraction.
• There were increases in production, new orders, and employment during October. Input costs declined during October.
• S&P Global noted manufacturing efficiency is being supported by GST reforms.
• Increasing new orders caused output growth. Higher input purchases caused expansion in inventories.
• However, external sales growth declined and reached its lowest level in ten months.
• There were modest increases in input cost. Selling price inflation reached to near a 12-year high.
• There was positive business sentiment among manufacturers and linked to GST reforms.
• Overall, the manufacturing sector outlook was positive.

Topic: Banking System

4. SBI executed its first gold trade in the form of a special category client on the India International Bullion Exchange (IIBX).

• In 2024, SBI was first bank, which became a Trading-cum-Clearing Member at IIBX.
• SBI will be a facilitator of smooth bullion transactions as a special category client.
• SBI will support jewellers, dealers, and others in gold imports.
• The aim of initiative is to increase efficiency, transparency, and accessibility in bullion sector. It will particularly benefit MSME jewellers.
• SBI’s focuses on innovation and financial inclusion and also leverages IIBX’s advanced infrastructure.
• SBI's move aligns with government efforts to modernize and formalize India’s bullion trade.
• The intention of SBI is to boost liquidity in the jewellery and bullion industry and to encourage competitive pricing and sustainable growth.

Topic: Taxation

5. GST revenue for October increased 4.6% year-on-year.

• GST collection for October increased to cross ₹1.95 lakh crore, even after rate reductions on 22nd September.
• In October 2024, total GST receipts of ₹1.87 lakh crore had been recorded.
• Central GST revenue during October 2025 increased to ₹36,547 crore.
• State GST collections for for the same month increased to ₹45,134 crore.
• Integrated GST collections stood at ₹1,06,443 crore.
• GST compensation cess collections stood at ₹7,812 crore.

Topic: Awards and Prizes

6. Chef and author Sanjeev Kapoor was recognised as a top Agri-Food pioneer by the World Food Prize Foundation.

• The award ceremony took place in Des Moines, Iowa, during the annual Borlaug Dialogue Week.
• Chef and author Sanjeev Kapoor is also a Padma Shri awardee.
• The event brings together global leaders, scientists, policymakers, and innovators.
• They discuss issues related to food security, nutrition, and climate resilience.
• Kapoor was honoured for his work in promoting sustainable and healthy eating.
• He has also supported Indian agriculture and advocated the use of local, nutrient-rich ingredients.

Topic: Banking/Financial/Govt Schemes

7. The government launched the Model Youth Gram Sabha initiative in New Delhi.

• The Model Youth Gram Sabha initiative aims to encourage youth participation in grassroots governance.
• A Training Module on the Model Youth Gram Sabha was also introduced during the launch event.
• An online Model Youth Gram Sabha Portal was also launched.
• According to the Panchayati Raj Ministry, the program aims to strengthen citizen involvement.
• It seeks to promote participatory governance by involving students in mock Gram Sabha activities.
• Government will implement the initiative in more than one thousand schools across the country.
• Union Minister of State for Panchayati Raj Prof. Satya Pal Singh Baghel attended the launch event.
• The Model Youth Gram Sabha initiative represents a collaborative effort between the Ministries of Panchayati Raj, Education, and Tribal Affairs.

Topic: Banking/Financial/Govt Schemes

8. India got three Guinness World Records under Swasth Nari, Sashakt Parivar Abhiyaan.

• Swasth Nari, Sashakt Parivar Abhiyaan was a nationwide women’s health campaign.
• It was carried out from September 17 to October 2.
• One record was secured for the highest number of individuals (more than 3.21 crore). They registered on a healthcare platform in a month.
• Another record was secured for the most online registrations for breast cancer screening in one week.
• Approximately 9.94 lakh women took part in this screening drive.
• A third record was secured for more than 1.25 lakh people, who signed online for vital signs screening in a week at the state level.
• More than 20 Union ministries took part in the initiative. Other participants were government institutions, medical colleges, and private sector organisations.
• Over 5 lakh Panchayati Raj representatives and 1.14 crore students also took part.
• The initiative showed India’s unified approach to women’s health.