Topic: Banking/Financial/Govt Schemes
1. BoB has launched CBDC based Loyalty/Cashback Programme.
- Bank of Baroda (BoB) announced the pilot launch of a CBDC based ‘Loyalty/Cashback Programme’ for merchants.
- This programme allows small and medium merchants to independently design and run loyalty/cashback schemes via the ‘bob Merchant App’.
- Merchants like retail shops, grocery stores, and pharmacies can set up these programme without extra infrastructure investment.
- During the programme, users of the bob World Digital Rupee app will receive cashback in the form of Programmable CBDC (PCBDC).
- Until it expires, the PCBDC cashback can be used at the designated merchant location.
- By providing customized cashback incentives, BoB hopes to enable retailers to improve consumer engagement and retention.
Topic: Reserve Bank of India
2. RBI has rolled back higher risk weights for loans to non-banking finance companies (NBFCs).
- Reserve Bank of India has rolled back the higher risk weight on bank loans to NBFCs.
- The step will provide NBFCs with more credit availability from banks.
- The step is expected to improve the capital ratios of NBFCs and microfinance institutions (MFIs).
- RBI’s step will enhance credit flow to retail segments, supporting economic growth.
- Lower risk weights may reduce loan rates for NBFCs and increase the purchasing power of middleclass citizens.
- RBI's decision follows feedback from NBFCs and MFIs facing a severe funding crunch.
- In November 2023, RBI had raised risk weight on credit card exposures, lenders’ consumption loans and bank loans to NBFCs by 25% to 125%.
Topic: Banking System
3. The ninth "Evolve" seminar for MSMEs was organised by Axis Bank.
- Axis Bank's "Evolve" seminar aims to empower Micro, Small, and Medium-Sized Enterprises (MSMEs).
- Ninth edition of the seminar was held in Kochi.
- The theme of the seminar was "Preparing MSMEs for the Business of the Future."
- Axis Bank executives S. Bindish, Ratul Mukhopadhyay, and Deepak Senthilkumar were among the main speakers.
- In order to learn more about financial planning, business growth, and industry best practices, more than 100 MSME entrepreneurs attended the event.
Topic: Regulatory Bodies/Financial Institutions
4. SEBI has fined the Indian Clearing Corporation Ltd (ICCL) with Rs 5.05 crore for various violations.
- ICCL did not provide a Network Audit Report to SEBI without input from the ICCL Governing Board.
- ICCL failed to maintain an up-to-date asset inventory.
- ICCL also incorrectly classified mission critical servers.
- ICCL did not address cyber audit observations within the specified time.
- The SEBI’s inspection included the period from December 1, 2022, to July 31, 2023.
- The SEBI’s inspection revealed noncompliance with key regulatory provisions.
- SEBI found that ICCL did not fulfil the requirements for System and Network Audits and Business Continuity Plan as well as Disaster Recovery Guidelines.
- SEBI referenced a committee report which emphasized the systemic importance of Market Infrastructure Institutions (MIIs) for financial stability.
- SEBI asked ICCL to pay the penalty within 45 days.
Topic: Appointments
5. Government has appointed Finance and Revenue Secretary Tuhin Kanta Pandey as the new Chairman of SEBI.
- Finance Secretary Tuhin Kanta Pandey has been appointed for a term of three years.
- He will succeed Madhabi Puri Buch. His appointment has been approved by the Appointments Committee of the Cabinet.
- Three-year tenure of Madhabi Puri Buch has been completed on February 28, 2025.
- She is the first women chief of SEBI. She took over on March 2, 2022.
- Central government makes appointment of SEBI chairman on the recommendation of the Financial Sector Regulatory Appointments Search Committee.
- Pandey is a 1987-batch Indian Administrative Service officer of the Odisha cadre.
Topic: Summits/Conferences/Meetings
6. Bharat Calling Conference 2025 inaugurated by Union Minister Piyush Goyal.
- On 27 February, the Bharat Calling Conference 2025 inaugurated by Union Minister of Commerce and Industry, Piyush Goyal, in Mumbai.
- He said that earlier, quality of products was a big concern, we lost our reputation at the international platform due to inferior material.
- India today is on the cusp of a quality revolution where there is a need to follow good manufacturing practices.
- The Minister said that we need to increase our efficiency and competitiveness instead of depending on the government.
- The conference highlighted how India is leading global economic growth and offering unique opportunities for investment in diverse sectors.
Topic: MoUs/Agreements
7. Department for Promotion of Industry and Internal Trade and Paytm signed MoU.
- The MoU has been signed to boost innovation, support Fintech & manufacturing Startups.
- The MoU has been signed to foster innovation and accelerate the growth of manufacturing and fintech startups in India.
- The aim of partnership is to support fintech hardware startups through mentorship and innovation guidance.
- It will help them develop and scale payment and financial technology solutions.
- The focus of MoU is also on regulatory and compliance assistance by providing guidance in association with industry and government bodies.
Topic: Indian Economy/Financial Market
8. India led global IPO activity in 2024 and raised over $19 billion.
- A new report on February 23 said India has emerged as the global leader in initial public offering (IPO) activity in 2024, accounting for 23% of all public issues worldwide.
- According to the Indus Valley Annual Report 2025, India raised the highest amount of funds through IPOs, amounting to $19.5 billion.
- This was followed by IPOs listed on the US Nasdaq, which raised $16.5 billion, and IPOs listed on the New York Stock Exchange (NYSE), which raised $15.9 billion.
- There were 268 IPOs listed in India, including 90 mainboard listings and 178 SME listings.
- One of the biggest offerings of the year was Hyundai Motors' Rs 27,870 crore IPO, becoming India's largest IPO and the world's second-largest IPO in 2024.
- Venture capitalists have shown increasing interest in the Indian IPO market, as several prominent companies have gone public with venture funding this year.
- Since 2012, the average market capitalisation of SME IPOs has increased 4.5 times, reaching around Rs 100 crore in 2024.
- Further, the average revenue of SMEs at the time of the IPO has increased three-fold to Rs 70 crore.
- India’s instant commerce sector has witnessed tremendous growth, growing from $300 million in FY22 to an estimated $7.1 billion in FY25.
Topic: Miscellaneous
9. Government is working to set up a National Green Financing Institution.
- National Green Financing Institution will support India in achieving a net-zero target by 2070.
- A dedicated National Green Financing Institution will help bridge the gap between target and achievement.
- NITI Aayog is examining structuring mechanisms for operationalizing a potential National Green Financing Institution.
- India aims to reduce its GDP emission intensity by 45 per cent by 2030 compared to 2005 levels.
- India also aimed to achieve 50 per cent of its installed electric power capacity from non-fossil fuel sources by 2030.
- India has also made a commitment to create an additional carbon sink of 2.5 to 3 billion tonnes through additional forest and tree cover by 2030.
Topic: Awards and Prizes
10. Sunil Bharti Mittal received an honorary knighthood medal.
- Bharti Enterprises founder and chairman Sunil Bharti Mittal received an Honorary Knighthood medal for advancing business relations between the United Kingdom and India.
- He received the Honorary Knighthood medal for advancing business relations between the United Kingdom and India.
- He received the insignia of the Knight Commander of the Most Excellent Order of the British Empire (KBE) at a special investiture ceremony at the British High Commissioner’s residence.
- Mittal’s leadership has made a lasting impact on the U.K.-India partnership.
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