Banking Awareness of 17, 18, 19 and 20 December 2025

Topic: Reports and Indices

1. The HSBC Composite PMI fell to 58.9 in December from 59.7 in November.

• It remained above the 50 mark. This indicates ongoing growth.
• December saw the slowest pace of output expansion since February.
• Growth in new business moderated during the month and Companies largely kept workforce levels steady in December.
• Business confidence weakened further and firms were more cautious about the outlook.
• Manufacturing activity also slowed. Supplier delivery times shortened further, reflecting improved supply conditions.
• HSBC Flash India Manufacturing PMI improved to 55.7 in December from 56.6 in November.
• This was its weakest improvement in two years. Business sentiment declined for a third straight month, falling to its lowest level since mid-2022.

Topic: Banking System

2. ‘Google Pay Flex Axis Bank Credit Card' has been launched by Axis Bank and Google Pay.

• It is a UPI-powered co-branded credit card on the RuPay network.
• This is the first launch as part of Flex by Google Pay.
• Flex by Google Pay aims to make credit simpler and more accessible for a wider range of users.
• Google Pay plans to expand the Flex program to other banking partners soon.
• The company seeks to address underpenetration of transactional credit in India.
• Users can make payments via this card at millions of offline and online merchants.
• Users can also convert credit card bills into EMIs directly through the Google Pay app.

Topic: Appointments

3. Ashwini Kumar Tewari has been re-appointed as Managing Director in the State Bank of India by the Central Government.

• His appointment is effective from the date of his assumption of charge of the post.
• His currently notified term ends on January 27, 2026.
• His new term will continue until his superannuation on December 31, 2027, or until further orders.
• Tewari's career started at SBI as a probationary officer in 1991.
• He was promoted to Managing Director from Deputy MD in January 2021.
• This initial term was for three years or until further orders.
• His tenure was later extended by two years beyond January 27, 2024.

Topic: Banking System

4. An Offer for Sale to divest up to 3% stake in Indian Overseas Bank has been announced by the Government of India.

• The Offer for Sale will be conducted at a floor price of Rs 34 per share.
• The divestment aims to meet SEBI’s minimum public shareholding requirements for the bank.
• The government currently holds around 94.6% of Indian Overseas Bank.
• The government will remain the bank’s promoter after the sale.
• The Offer for Sale includes a base offer of 38.5 crore shares and a green shoe option of 19.2 crore shares.
• An additional 150,000 shares may be offered to eligible employees under Offer for Sale guidelines, subject to approval from the competent authority.
• The sale was to take place over two trading days.
• Non-retail investors were to bid on December 17, and retail investors on December 18.
• Retail investors have a 10% reservation in the offer.
• Mutual funds and insurance companies get 25% within the non-retail category.
• The government is offering 2% equity for sale. An additional 1% is available through the green shoe option.
• Earlier in December, the government carried out a divestment of about 6% stake in Bank of Maharashtra.
• This was also done to maintain public shareholding requirements.

Topic: MoUs/Agreements

5. The loan agreements worth over $2.2 billion signed between India and the Asian Development Bank.

• On 15 December, the agreements were finalised under the guidance of the Department of Economic Affairs, Ministry of Finance.
• The loans were signed to support five major development projects across multiple states.
• Funding has been allocated for skilling, renewable energy, healthcare, urban transport and sustainable livelihoods.
• The skilling programme will modernise 650 Industrial Training Institutes across 12 states and upgrading five National Skill Training Institutes into centres of excellence.
• The rooftop solar program will support the Pradhan Mantri Surya Ghar: Muft Bijli Yojana, which aims to increase the adoption of rooftop solar and provide clean, affordable energy to 10 million households by 2027.
• In the healthcare sector, the Assam State Tertiary Health Care Augmentation Project aims to strengthen tertiary care services by modernizing the medical colleges in Guwahati, Dibrugarh, and Silchar.
• The Chennai Metro Rail project will expand climate-resilient urban transport infrastructure.
• Meghalaya’s project will promote ecotourism and climate-smart agriculture.
• The initiatives are expected to generate employment, improve services and support inclusive growth.

Topic: Banking/Financial/Govt Schemes

6. The Viksit Bharat–Guarantee for Rozgar and Ajeevika Mission (Gramin) Bill, 2025 has been introduced in the Lok Sabha.

• The Bill seeks to provide a legal guarantee of 125 days of wage employment each year to rural households.
• The Bill was tabled by Union Minister for Rural Development and Agriculture and Farmers Welfare Shivraj Singh Chauhan.
• The Centre has pledged an expenditure of more than 95 thousand crore rupees for the new programme.
• The scheme aims not only to create jobs but also to promote comprehensive development of villages.
• The minister noted that earlier rural employment schemes suffered from uneven funding and limited impact.
• The Bill proposes grading panchayats based on development performance.
• More employment works will be assigned to panchayats that are less developed and underperforming.
• The minister compared the initiative with MGNREGA to highlight increased welfare spending.
• He said the previous UPA government spent about 2.13 lakh crore rupees on MGNREGA.
• The current government has spent over 8.53 lakh crore rupees on welfare schemes for the poor.
• The new Bill raises the employment guarantee from 100 days to 125 days.
• This enhanced guarantee is supported by a proposed allocation exceeding 1.51 lakh crore rupees.
• Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA):
  • MGNREGA was enacted and notified in 2005, with the Act passed in September 2005.
  • It guarantees 100 days of unskilled manual work for rural households to improve livelihood security and create productive assets.

Topic: Miscellaneous

7. The Sabka Bima Sabki Raksha Bill 2025 passed by the Lok Sabha.

• The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill 2025 has been passed by the Lok Sabha.
• Amendments are being made to the Insurance Act 1938, LIC Act 1956 and IRDA Act 1999 through the Bill.
• The Bill is aimed at accelerating growth of the insurance sector while strengthening policyholder protection.
• Greater transparency in regulation-making and improved regulatory oversight are being ensured through the legislation.
• Finance Minister Nirmala Sitharaman stated that over ₹17,000 crore has been infused into public sector insurance companies.
• The Bill seeks to improve ease of doing business and uninterrupted services by insurance intermediaries.
• Insurance density, penetration and coverage have recorded significant growth over the last 11 years.
• The GST Council decision to waive GST on life and health insurance premiums was highlighted during the discussion.
• The government has launched several flagship programs, such as the PM Jeevan Jyoti Bima Yojana, PM Suraksha Bima Yojana, PM Jan Arogya Yojana, and agricultural insurance schemes, aimed at benefiting the poorest people who cannot afford insurance.

Topic: Agriculture

8. India is the world’s largest makhana producer, with 80% of the global share.

• On December 16, Parliament was informed that India is the world's largest producer of makhana, accounting for approximately 80% of global production.
• Bihar has been identified as the backbone of national makhana output, contributing around 85% of production.
• Darbhanga district has been acknowledged as a major hub for makhana cultivation and processing.
• The information was shared in a written reply in the Rajya Sabha by the Ministry of Agriculture and Farmers’ Welfare.
• Darbhanga hosts the ICAR-National Research Centre on Makhana, strengthening research and innovation.
• The district has been identified under the One District One Product initiative for makhana.
• The sector holds strong potential to improve the economic condition of farmers and fishermen.
• The National Makhana Board has been established through a gazette notification dated 14 September 2025.
• The Board will focus on productivity enhancement, value addition, marketing and export promotion.
• A ₹476.03 crore Central Sector Scheme has been approved to strengthen the makhana value chain from 2025–26 to 2030–31.