Banking Awareness of 5 6, 7 and 8 October 2025

Topic: Reports and Indices

1. India’s Services PMI fell to 60.9 in September, down from 62.9 in August.

• This indicates a slower rate of growth in the services sector.
• The decline was mainly due to weaker expansion in new orders and overall business activity.
• The index is based on survey responses from about 400 services firms. S&P Global conducted the survey.
• International demand for Indian services also grew more slowly.
• This was the weakest rate of growth in overseas orders since March.
• Inflation in the sector softened to its lowest level since March.
• Service providers raised prices at a slower pace in September.
• Job creation also eased during the month. Less than 5% of companies reported an increase in hiring.
• The Future Activity Index rose to its highest level since March. This suggests increased optimism about the business outlook.

Topic: RBI

2. RBI has recognised the Finance Industry Development Council (FIDC) as a self-regulatory organisation (SRO).

• This recognition is specifically for the non-banking financial company (NBFC) sector.
• The RBI had invited applications for SRO recognition in June last year.
• Three organisations applied in response to this invitation.
• After reviewing the applications, the RBI selected FIDC for the role. The other two applicants were rejected.
• Earlier, the RBI had granted SRO status to the Fintech Association for Consumer Empowerment (FACE).
• FACE was recognised as the SRO for the fintech sector.
• SROs act as a bridge between their industries and regulators like the RBI.
• They represent the interests and concerns of their sectors to the government and regulators.
• They are also responsible for maintaining proper governance standards among their members.
• SROs are permitted to take disciplinary action. They can impose penalties on members who repeatedly violate rules or guidelines.

Topic: Appointments

3. RBI has extended Raghavendra Srinivas Bhat’s term as Managing Director and CEO of Karnataka Bank.

• The extension is for one month. It will begin on October 16, 2025.
• The term may end earlier if a permanent MD and CEO is appointed before that date.
• Bhat originally took charge on July 16, 2025. His initial appointment was for a period of three months.
• He has worked at Karnataka Bank for nearly 40 years.
• He previously served as Chief Operating Officer (COO) of the bank.
• Srikrishan Hari Hara Sarma resigned as MD and CEO on June 29, 2025. His resignation became effective on July 15.
• Sekhar Rao, the Executive Director, also resigned on June 29. His resignation took effect on July 31, 2025.

Topic: Reports and Indices

4. NITI Aayog urged to boost manufacturing as India's trade reaches $1.73 trillion in FY25.

• NITI Aayog CEO B.V.R. Subrahmanyam launched the Trade Watch Quarterly Report for Q4 of FY2025 in New Delhi.
• During the launch, he emphasized the need to strengthen and diversify India’s manufacturing base.
• It was stated that improving manufacturing competitiveness is essential for sustained trade growth.
• Subrahmanyam highlighted the need for India to adapt to evolving global demand and diversify its export base.
• Focus was also placed on enhancing competitiveness in non-leather footwear and global value chains.
• The report revealed that India’s total trade stood at $1.73 trillion in FY25, reflecting a 6% year-on-year growth.
• Exports were recorded at $823 billion, while imports reached $908 billion during the same period.
• Services exports achieved a record $387.5 billion, showcasing India’s growing strength in the service sector.
• The report also recommended expansion of apprenticeship-based training and R&D for design innovation.
• It assessed the leather and footwear sector, which employs 4.4 million people and contributes significantly to India’s exports.

Topic: Summits/Conferences/Meetings

5. The sixth Global Fintech Fest (GFF) started in Mumbai on 7 October 2025.

• Finance Minister Nirmala Sitharaman attended the opening session.
• This year’s theme is ‘Empowering Finance for a Better World Powered by AI’.
• Prime Minister Narendra Modi will deliver a keynote address on 9 October 2025.
• UK Prime Minister Keir Starmer is also expected to speak at the event.
• Both leaders will meet with policymakers, innovators, and industry experts.
• A key highlight is the Bharat AI Experience Zone by NPCI and NVIDIA.
• Over 400 exhibitors will showcase their fintech innovations.
• The event will also include workshops and hackathons.
• Fintech awards will recognize innovation and impact in the sector.
• Several networking events are planned throughout the fest.
• The goal is to create a platform for ideas, technology, and collaboration.
• The three-day event is being held at the Jio World Centre in Mumbai.
• More than one lakh attendees are expected to visit. Over 7,500 companies will take part in the event.

Topic: Summits/Conferences/Meetings

6. The Indian Institute of Corporate Affairs hosted the second National Conference and Exhibition on Corporate Social Responsibility (NCCSR).

• The event took place in New Delhi. It began on 6 October and continued for two days.
• This year’s theme was “Leveraging CSR Excellence for Tribal Development.”
• The conference aimed to promote inclusive and sustainable development.
• It sought to connect government programs, corporate CSR strategies, and tribal knowledge.
• The event served as a national platform for discussion on CSR.
• Six expert panel discussions were held during the conference.
• A live social innovation lab was part of the agenda. This lab showcased creative solutions to social challenges.
• A tribal cultural showcase highlighted indigenous traditions and practices.
• An exhibition displayed innovative CSR initiatives and projects.
• The Ministry of Corporate Affairs organized the event.

Topic: Summits/Conferences/Meetings

7. The 11th World Green Economy Summit began in Dubai.

• On 1 October, the 11th World Green Economy Summit (WGES) was inaugurated in Dubai at the World Trade Centre.
• More than 3,300 participants from over 30 countries are attending the two-day gathering.
• The summit is being held under the theme “Innovating for Impact: Accelerating the Future of the Green Economy.”
• The event has been co-located with the Water, Energy, Technology, and Environment Exhibition (WETEX 2025).
• Discussions on the first day focused on technology, climate finance, equity, and youth engagement.
• The sessions also highlighted the importance of small and medium enterprises in leading the way in sustainable technologies as well as policy reforms to accelerate global climate goals.
• Naila Farouky, CEO of the Arab Foundations Forum, highlighted the importance of regional climate commitments.
• Nearly 80 international speakers from government, academia, and industry are addressing the summit.
• Key themes include renewable energy, circular economies and equitable climate strategies, with a special emphasis on accountability and transparency in sustainability pledges.
• The Global Alliance on a Green Economy (GAGE) will also unveil its 2024-2025 portfolio.
• It will present key initiatives designed to support member countries in their transition to green economies.

Topic: Indian Economy/Financial Market

8. India's growth forecast for FY26 has been raised by World Bank to 6.5%.

• This is an increase from the earlier estimate of 6.3 percent made in June.
• The increase is due to strong domestic consumption and a recovery in rural areas.
• It is also supported by the positive effects of the Goods and Services Tax (GST) reforms.
• India is expected to remain the fastest-growing major economy in the world.
• This growth will be driven largely by resilient consumer spending.
• However, the World Bank has lowered its forecast for India’s growth in FY27 to 6.3 percent.
• This is linked to the negative impact of a 50 percent tariff imposed by the United States.
• South Asia as a whole is projected to grow by 6.6 percent in 2025.
• Growth in the region is expected to slow to 5.8 percent in 2026.
• This marks a 0.6 percentage point drop from the forecast made in April.
• The region faces several risks that could hurt economic performance.
• These include global economic uncertainty and political instability.
• Disruptions in the labor market from emerging technologies like artificial intelligence also pose a threat.