Banking Awareness of 19, 20 and 21 April 2025

Topic: Infrastructure and Energy

1. Coal-based power generation grew by just 2.8% in FY25.

• This is the slowest increase since FY21.
• Peak electricity demand remained stable over the past two years. 
• It increased from 240 GW to 250 GW in FY25. 
• Renewable energy played a key role in meeting the increased demand. 
• Thermal power had the weakest growth among major power sources in FY25. 
• Its growth was only 2.8%.  Nuclear power grew by 18.4%. 
• Large hydro and renewable energy grew by 10.8% and 11.4%, respectively. 
• India’s total electricity generation reached a record 1,821 billion units (BU) in FY25. 
• This represents a 5% year-on-year increase. 
• Growth in electricity generation was seen across all sectors. 
• Thermal power increased by 2.8%, nuclear by 18.4%, large hydro by 10.8%, and renewables by 11.4%. 

Topic: Taxation

2. The number of PAN cards issued to individuals under 30 years old grew by 69% between FY19 and FY25.

• By the end of FY24-25, the total PAN allotments reached approximately 80 crore. 
• This marked an 80% increase since FY18-19. 
• There was a notable rise in PAN allotments for those under 30 due to greater financial awareness. 
• Initiatives like the Pradhan Mantri Jan Dhan Yojana (PMJDY) encouraged younger individuals to acquire PAN cards for financial activities. 
• As of March 31, 2025, there were 44.47 crore men and 33.97 crore women with PAN cards. 
• The male-to-female ratio for PAN allotments decreased from 1.96 in FY14 to 1.31 in FY25. 
• As of March 31, 2025, over 66 crore out of the 80 crore PAN cards were linked with Aadhaar. 

Topic: Corporates/Companies

3. Razorpay has officially become a public company.

• This move is part of its ongoing shift from the US back to India. 
• The transition is aimed at preparing for an IPO expected in about two years. 
• The company has changed its name from Razorpay Software Private Limited to Razorpay Software Limited. 
• Razorpay is among several startups, like Meesho and Pine Labs, relocating their base to India for local listings. 
• Razorpay was founded in 2014 by Harshil Mathur and Shashank Kumar.

Topic: MoUs/Agreements

4. Reserve Bank of India (RBI) and the Financial Intelligence Unit-India (FIU-IND) have made an agreement to strengthen efforts against money laundering.

• This agreement is in the form of a Memorandum of Understanding (MoU).
• It aims to support the implementation of the Prevention of Money Laundering Act and its regulations.
• Vivek Aggarwal, Director of FIU-IND, and R.L.K. Rao, Executive Director of RBI’s Department of Regulation, signed the MoU.
• Both organizations will collaborate on areas of shared interest, such as exchanging relevant intelligence and information.
• They will work on improving Anti-Money Laundering and Countering Terrorist Financing skills in regulated entities.
• Training and outreach activities will be conducted for these entities.
• They will also assess the risks and vulnerabilities related to money laundering and terrorism financing in various financial sectors.

Topic: RBI

5. RBI has imposed fines on three major banks.

• These include Kotak Mahindra Bank, IDFC First Bank, and Punjab National Bank.
• The penalties were imposed due to failures in meeting regulatory standards.
• Kotak Mahindra Bank was fined Rs 61.4 lakh.
• The penalty was for violations related to the loan delivery system and restrictions on loans and advances.
• IDFC First Bank was fined Rs 38.6 lakh.
• This was due to non-compliance with Know Your Customer (KYC) norms.
• Punjab National Bank received a penalty of Rs 29.6 lakh.
• The reason was failure to follow RBI guidelines on customer service in banks.
• RBI stated that the fines are based on compliance issues.
• These actions do not affect the legality of transactions or agreements between the banks and their customers.

Topic: Appointments

6. Centre appoints new secretaries in different Ministries and departments.

• Arvind Shrivastava is appointed Secretary of Department of Revenue, Ministry of Finance.
• Anuradha Thakur will assume charge as Officer on Special Duty in Department of Economic Affairs, Ministry of Finance.
• Samir Kumar Sinha has been appointed as Secretary in Ministry of Civil Aviation.
• Santosh Kumar Sarangi, who is currently serving as Director General of Foreign Trade, has been appointed as Secretary in the Ministry of New and Renewable Energy.
• Nikunja Bihari Dhal has been appointed as Secretary in Ministry of Parliamentary Affairs.
• Vandana Gurnana will take over as Secretary, Ministry of Labour and Employment.

Topic: Corporates/Companies

7. South Eastern Coalfields Limited (SECL) will become the first coal PSU in India to use paste fill technology for underground mining.

• SECL has signed a ₹7040 crore agreement with TMC Mineral Resources Private Limited to implement the technology.
• The project will be carried out in the Singhali underground coal mine in SECL’s Korba region.
• The mine is expected to produce around 8.4 million tonnes of coal over 25 years using this method.
• Paste fill technology involves filling mined-out voids with a paste made from fly ash, crushed overburden, cement, water, and binding agents.
• This technique prevents land subsidence and enhances the structural stability of underground mines.
• The method eliminates the need for surface land acquisition and uses industrial waste materials, promoting environmental sustainability.
• The Singhali mine, Chhattisgarh, began operations in 1993.
• It has an estimated 8.45 million tonnes of extractable G-7 grade non-coking coal remaining.
• Mining in Singhali was previously carried out using the Bord and Pillar method with Load Haul Dumpers and Universal Drilling Machines.
• Traditional caving methods are not feasible at Singhali due to surface infrastructure such as villages, power lines, and a Public Works Department road.
• Paste fill technology allows mining to continue without disrupting the dense infrastructure above the mine.

Topic: Indian Economy/Financial Market

8. India's foreign exchange market has grown significantly.

• It increased from 32 billion dollars in 2020 to 60 billion dollars in 2024, according to RBI Governor Sanjay Malhotra. 
• Daily trading volumes in the overnight money market have also risen sharply.
• They went from around ₹3 lakh crore to over ₹5.4 lakh crore in the same period. 
• The government securities market has seen a 40% increase in average daily volumes.
• These volumes now stand at ₹66,000 crore. 
• Malhotra stated that India’s financial markets have become more robust and adaptive.
• He said they are now a strong driver of economic growth. 
• He also noted that transparency in Indian markets has reached global standards. 
• Recent regulatory reforms have expanded the variety of financial products and market participants. 
• The connection between domestic and international markets has become much stronger.

Read Banking Awareness PDF - 19 20 and 21 April 2025