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

Topic: MoUs/Agreements

1. Export-Import Bank of India (India Exim Bank) signed a commercial credit line agreement of $40 million with the ECOWAS Bank for Investment and Development (EBID).

• The aim of the agreement is to create new opportunities for Indian businesses to contribute to growth of Africa and strengthen bilateral economic ties.
• Goods and services that are supplied by Indian companies for infrastructure projects in Africa are cost effective.
• India Exim Bank performs the financing, facilitation and promotion of international trade and investments of India.
• It is also the principal financial institution to coordinate the operations of institutions involved in financing the export and import of Indian goods and services.
• ECOWAS Bank for Investment and Development (EBID) is a regional Development Finance Institution.
• It is owned by the 15 ECOWAS (Economic Community of West African States) member States.

Topic: Reports and Indices

2. In FY25, highest number of customer complaints were received by State Bank of India.

• Axis Bank received highest number of complaints among private banks.
• According to SBI's FY25 business responsibility and sustainability report (BRSR), SBI received more than 6.87 lakh customer complaints in FY25.
• These complaints pertained to unauthorised electronic debit transactions.
• For delay in delivery of essential services including sanction of loans, 12,502 complaints were received by the bank. This was more than 7,223 in FY24.
• Under the other category, the bank received 21.50 lakh complaints.
• The other category includes all categories of complaints other than cyber security and delivery of essential services.
• In FY24, 24.02 lakh complaints were received by the bank under the other category.
• Punjab National Bank (PNB) registered 11.39 lakh customer complaints in FY25, marginally more than the 11.30 lakh filed in FY24.
• Bank of Baroda (BoB) logged 5.34 lakh complaints during FY25, with most concerns stemming from digital banking services and ATM/debit card issues.
• Axis Bank received 4.97 lakh grievances regarding delays in delivering essential services in FY25, with 8,782 cases unresolved as of the end of March.
• Additionally, Axis Bank recorded 76,111 complaints in the "other" category, 12,744 about advertisements, and 4,438 related to unfair business practices.
• ICICI Bank reported 5.34 lakh service delay complaints in FY25, with 45,151 still unresolved by fiscal year-end.
• In comparison, ICICI had 3.46 lakh similar complaints in FY24.
• ICICI Bank stated that improved complaint intake systems across multiple platforms contributed to the rise in FY25 complaint numbers.
• HDFC Bank documented 4.42 lakh "other" category complaints in FY25, with 16,133 remaining pending at the close of the year.
• In FY24, HDFC Bank had slightly more, at 4.70 lakh complaints in the same category.

Topic: Banking System

3. Punjab National Bank (PNB) is the first public sector lender in India to shift to the exclusive ‘.bank.in’ domain.

• This move complies with the Reserve Bank of India’s directive issued on April 22, 2025, regarding the use of the ‘.bank.in’ domain.

• The migration was overseen by the Institute for Development and Research in Banking Technology (IDRBT), which manages the domain registrations.
• The ‘.bank.in’ domain is designated exclusively for banking institutions to enhance digital security and reduce fraudulent activity.
• By adopting this domain, PNB aims to boost public trust in its online services and strengthen cybersecurity measures.
• The decision aligns with the RBI’s broader strategy announced in February 2025 to address rising fraud in digital transactions.
• The introduction of ‘.bank.in’ seeks to protect users from threats like phishing and to make digital banking more secure.
• Registrations for ‘.bank.in’ domains officially began in April 2025, under the administration of IDRBT.
• The RBI also intends to launch a separate ‘fin.in’ domain for financial institutions outside the traditional banking sector.

Topic: Indian Economy/Financial Market

4. India’s unemployment rate for people aged 15 and above dropped to 5.2% in July 2025.

• This is a decrease from 5.6% recorded in June.

• The unemployment rate for women in July was 5.1%. For men, it was slightly higher at 5.3%.
• Between April and June 2025, the overall unemployment rate for both men and women was 5.4%.
• Rural areas had a lower unemployment rate of 4.8% in the first quarter. Urban areas experienced a higher rate of 6.8%.
• The Labour Force Participation Rate (LFPR) rose to 54.9% in July.
• This was up from 54.2% in June for those aged 15 and above.
• In July, rural LFPR stood at 56.9%. Urban LFPR was 50.7% for the same age group.
• From April to June, the overall LFPR was 55%. Rural LFPR during this period was 57.1%. Urban LFPR was recorded at 50.6%.

Topic: Banking/Financial/Govt Schemes

5. The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) portal is now live for one-time online registration.

• The scheme will offer up to ₹15,000 in two instalments as an incentive to newly employed youth.
• Employers will receive up to ₹3,000 per month for each new employee for creation of new job opportunities.
• Prime Minister Narendra Modi announced PMVBRY during his Independence Day speech from the Red Fort this year.
• PMVBRY is part of the broader Employment Linked Incentive Scheme.
• The scheme targets the creation of over 3.5 crore new jobs in India over the next two years.
• It aims to promote employment generation, boost employability, and strengthen social security.
• All sectors are eligible for the scheme, with a special emphasis on the manufacturing industry.
• The scheme is effective from August 1 this year.

Topic: Banking System

6. Maharashtra is the number one state in UPI usage, according to SBI’s economic research department (ERD).

• Maharashtra is followed by Karnataka, Uttar Pradesh, Telangana and Tamil Nadu.
• As per ERD economists, Maharashtra is the consistent leader in digital payments with 9.8% volume share in July alone.
• It is followed by Karnataka (5.5%), UP (5.3%), Telangana (4.1%) and Tamil Nadu (4%).
• In terms of value share also, Maharashtra is at the top in digital payments with 9.2% share in July alone.
• It is followed by Karnataka (5.8%), UP (5.3%), Telangana (5.1%) and Tamil Nadu (4.7%).
• As per the SBI report, UPI transactions have grown significantly both in value and volume terms.
• In 2025 itself, the average daily value has increased from ₹75,743 crore in January to ₹90,446 crore in August (so far).
• As per the report, PhonePe is the number one UPI app. It is followed by Google Pay and Paytm in both volume and value.

Topic: Indian Economy/Financial Market

7. India’s wholesale price inflation fell to -0.58% in July on a year-over-year basis.

• This marks the second month in a row where wholesale prices have declined.
• The drop was largely attributed to lower prices in food items, mineral oils, crude oil, natural gas, and basic metal manufacturing.
• The WPI food index also recorded a decline, with inflation falling to -2.15%.
• Primary articles saw deeper deflation, with prices falling by 4.95%.
• The fuel and power category experienced a price drop of 2.43%.
• In contrast, inflation in manufactured goods rose to 2.05% during the same period.
• Unlike the Consumer Price Index (CPI), WPI measures price movement at the wholesale level.
• This fall in WPI is consistent with a decrease in retail inflation, which dropped to an eight-year low of 1.55% in July due to lower food costs.

Topic: Indian Economy/Financial Market

8. India’s merchandise exports witnessed a notable 7.3% year-on-year rise in July, reaching 37.24 billion dollars.

• Imports for the month climbed by 8.6%, amounting to 64.59 billion dollars.
• As a result, the trade deficit expanded to 27.35 billion dollars, marking the highest level in eight months.
• Key sectors driving export growth included engineering, jewellery, electronics, pharmaceuticals, and both organic and inorganic chemicals.
• Exports of electronic goods surged by nearly 34%, increasing from 2.81 billion dollars in July 2024 to 3.77 billion dollars in July 2025.
• Between April and July of the current fiscal year, total merchandise exports stood at 149.20 billion dollars.
• During the same four-month span, imports rose to 244.01 billion dollars.
• Combined exports of goods and services for the April–July period are projected at 277.63 billion dollars.
• This overall export performance reflects a 5.23% increase compared to the same timeframe the previous year.