Banking Awareness of 4, 5, 6 and 7 March 2026

Topic: Reports and Indices

1. India's Services PMI fell slightly from 58.5 in January to 58.1 in February.

• This indicates a slight slowdown in growth.
• The Composite PMI rose to 58.9, reflecting strong growth in the private sector. Manufacturing activity supported this increase.
• The Manufacturing PMI reached a four-month high of 56.9.
• The index remained above the 50 mark. A reading above 50 indicates growth in the sector.
• The PMI survey collects responses from purchasing managers. Nearly 400 companies participate in the survey.
• Growth in new orders slowed in February, reaching its lowest level in 13 months.
• Despite slowing domestic demand, international sales improved.
• Service providers reported a good increase in export orders.
• Companies increased hiring during the month. Operating expenses for service firms increased sharply.
• This increase was the sharpest in nearly two and a half years.
• Input cost inflation rose above its historical average. Food and beverages were the main contributors to the rising costs.

Topic: MoUs/Agreements

2. Axis Bank has entered into a financing partnership with Tesla in India.

• The bank has been selected as the preferred financing partner for Tesla vehicles.
• This partnership was announced on March 4, 2026, in Mumbai.
• Axis Bank will offer vehicle loans specifically designed for Tesla customers.
• The bank will offer loan terms of up to 10 years.
• Axis Bank has become the first lender in India to offer such a long repayment period for premium electric cars.
• The financing program will initially launch in major metropolitan cities.
• It will also be expanded to emerging EV markets across the country.
• Axis Bank plans to offer a completely digital loan process for Tesla buyers, from vehicle booking to final delivery.
• Customers will not need to complete physical paperwork. The entire loan process will be handled online.

Topic: Indian Economy/Financial Market

3. India's Index of Industrial Production (IIP) recorded a year-on-year growth of 4.8% in January.

• This growth rate was lower than the 7.8% growth recorded in December last year.
• The slowdown in industrial output was primarily due to weak performance in the manufacturing sector.
• Manufacturing output increased by 4.8% in January.
• In December, manufacturing had grown at a much higher rate of 8.1%.
• Meanwhile, growth in the mining sector also slowed.
• Mining output increased by 4.3% year-on-year in January.
• In comparison, this sector had grown by 6.8% in December.
• Growth in electricity production also declined.
• Electricity production increased by 5.1% in January.
• In December, electricity production grew at a growth rate of 6.3%.
• These figures are taken from the quick estimate of the Index of Industrial Production.
• Data shows that all three major industrial segments recorded slower growth in January compared to the previous month.

Topic: Summits/Conferences/Meetings

4. Raisina Dialogue 2026 inaugurated by PM Modi in New Delhi.

• On 5 March, the 11th edition of the Raisina Dialogue 2026 inaugurated in New Delhi by Prime Minister Narendra Modi.
• The 11th edition of the Raisina Dialogue is being held from 5-7 March, 2026.
• The inaugural session attended by the President of Finland, Dr. Alexander Stubb, who joined as the Chief Guest.
• The Raisina Dialogue is recognised as India’s flagship conference on geopolitics and geo-economics, where the most challenging issues facing the international community are discussed.
• Participation in the conference witnessed from representatives of around 110 countries, including Ministers, former Heads of State and Heads of Government, Members of Parliament, Military Commanders and industry leaders.
• The theme for the Raisina Dialogue 2026 was “Saṁskāra – Assertion, Accommodation, Advancement.”
• Over the course of three days, global decision-makers and thought leaders will engage with one another through discussions organised in several formats.
• These discussions is being conducted across six thematic pillars, addressing important global political and economic issues.

Topic: Banking/Financial/Govt Schemes

5. India’s Women-Focused Banking Program hailed by the United Nations as a Global Model.

• India’s banking program for women has been praised by the United Nations as a global model for financial inclusion and empowerment of women and girls.
• It has been highlighted that banking services have been extended to more than 290 million women through this program.
• According to UN Women’s Director of Policy, Sandra Hendriks, India’s initiative has demonstrated a transformative pathway for empowering women economically.
• The system of providing digital identification to the entire population of women and girls has been cited as an important model for other countries.
• It has also been emphasised that the simplification of requirements for opening digital bank accounts has enabled wider financial participation of women across India.      
• The success of this initiative has largely been driven by the Pradhan Mantri Jan Dhan Yojana (2014), which is currently in its 12th year of implementation.
• Women now hold about 56% of the total accounts opened under the programme, demonstrating strong participation.

Topic: Awards and Prizes

6. Kriti K. Karanth has become the first Indian to receive a major conservation award in the United Kingdom.

• She is the Chief Executive Officer of the Centre for Wildlife Studies.
• The award was given by the Royal Geographical Society, based in London.
• She was chosen as the joint winner of the 2026 Esmond B. Martin Royal Geographical Society Prize.
• The other winner is Professor Alexander Antonelli, Executive Director of Science at the Royal Botanic Gardens, Kew, in London.
• Kriti K. Karanth is a conservation scientist from Bengaluru. Her work has helped improve understanding of global ecosystems.
• She has also contributed to the conservation of biodiversity in various regions. Her efforts focus on inclusive conservation strategies.
• Both winners will be presented with their awards at a ceremony organized by the Royal Geographical Society on April 13th.

Topic: MoUs/Agreements

7. NITI Aayog and UNICEF India have signed a Statement of Intent.

• This agreement focuses on improving nutrition and health outcomes.
• It targets aspirational districts and aspirational blocks in India.
• Rohit Kumar is Additional Secretary of NITI Aayog. He also serves as Mission Director of the organization.
• He emphasized the importance of partnerships with organizations like UNICEF India.
• Such collaborations can help address major health and nutrition challenges.
• This initiative aims to strengthen last-mile delivery of essential services.
• This will benefit people in remote and high-priority areas.
• UNICEF India will provide technical expertise for this program.
• It will also help connect with businesses and public sector enterprises. Industry associations will also participate in this initiative.

Topic: Miscellaneous

8. The Ministry of Defense has signed defense procurement contracts worth ₹5,083 crore.

• These agreements include the purchase of helicopters and missile systems for India's maritime forces.
• The contracts were signed in New Delhi in the presence of Defense Secretary Rajesh Kumar Singh.
• One contract involves the purchase of six HAL Advanced Light Helicopter Mk III helicopters.
• These helicopters are designed for maritime operations and will be inducted into the Indian Coast Guard.
• The helicopter contract is valued at ₹2,901 crore and includes operational mission equipment for the aircraft.
• The agreement was signed with Hindustan Aeronautics Limited.
• The helicopters are powered by twin engines and feature modern avionics and advanced operational features.
• The helicopters can operate from shore airfields and can also operate from ships deployed at sea.
• Their induction will strengthen the operational capabilities of the Indian Coast Guard.
• Another contract involves the purchase of the Shtil surface-to-air missile system. These missiles will be used by the Indian Navy. The value of this missile contract is ₹2,182 crore.
• This agreement was signed with JSC Rosoboronexport, Russian Federation.