Banking Awareness of 5, 6 and 7 February 2026

Topic: Reports and Indices

1. Manufacturing PMI increased to 55.4 in January 2026 from a two-year low level of 55.0 in December.

• According to the HSBC India Manufacturing PMI released on 2 February 2026, firms reported increased growth in new orders, output, employment, and purchasing activity.
• As per the survey, input costs increased at the fastest pace in four months.
• Services PMI increased to 2 months high level of 58.5 in January from 58 in December, S&P Global reported on 04 February 2026.
• Business confidence grew to a three-month high level. It was supported by efficiency gain, marketing efforts and new client wins.
• Input costs increased at the fastest pace since September 2025.
• PMI is based on responses from 400 purchasing executives of services companies in the private sector.
• An index above 50 shows expansion. An index below 50 indicates contraction.

Topic: Indian Economy/Financial Market

2. The provisions of Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 come into force on 5th February 2026.

• All provisions except section 25 have come into force.
• Section 25 is related to the prohibition of common officers and the requirement for whole-time officers.
• The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, amends three major laws.
• These include the Insurance Act, 1938, the LIC Act, 1956 and the IRDAI Act, 1999.
• The law increases FDI in the insurance sector to 100%.
• The Chairman, Managing Director, or CEO of the insurance company must be an Indian citizen.
• It also allows the merger of a non-insurance company with an insurance company.
• Earlier, the FDI limit in the insurance sector increased from 26% to 49% in 2015 and to 74% in 2021.
• Insurance penetration in India is only about 3.7% of GDP. This is well below the worldwide average of 7%.
• Government is promoting  ‘Ease of Doing business’ for intermediaries through a provision for one-time licensing.
• Licences can now be suspended instead of being cancelled immediately.
• For insurers, the government increased the limit of seeking prior regulatory approval for transfer of share capital from 1 per cent to 5 per cent.
• The government has reduced the Net Owned Fund requirement of Foreign Reinsurance Branches from ₹5,000 Crore to ₹1,000 crore.
• Autonomy has been provided to LIC to open Zonal offices in India.
• A dedicated ‘Policyholders’ Education and Protection Fund’ will be created to spread awareness about insurance and to protect the interests of Policyholders.
• Policyholders’ data would be collected and protected in alignment with the Digital Personal Data Protection Act, 2023 (DPDP Act 2023).
• IRDAI will have the power to recover wrongful gains from insurers and intermediaries.

Topic: Banking System

3. Tripura Gramin Bank has launched its first co-branded RuPay credit card during the bank’s Golden Jubilee year.

• Tripura Gramin Bank has been introduced in partnership with its sponsor bank, Punjab National Bank.
• Tripura Gramin Bank has become the first Regional Rural Bank (RRB) in India to launch a co-branded RuPay credit card.
• It is also the first among the eight PNB-sponsored RRBs to launch a co-branded RuPay credit card.
• The initiative marks a new phase of digital banking for the Tripura Gramin Bank.
• The credit card is designed to benefit rural and semi-urban customers. It provides access to modern credit products.

Topic: Appointments

4. The appointment of SBI MD Vinay Tonse as new MD and CEO of YES Bank for three years has been approved by RBI.

• Prashant Kumar is the current MD/CEO of the Bank. He is currently in the middle of his extended term.
• The term of Vinay Muralidhar Tonse as MD & CEO of YES Bank Limited is for 3 years with effect from the date of taking charge.
• His appointment is subject to the approval of the shareholders of the YES Bank.
• Sarvesh Ranjan has been appointed as the new Chief General Manager (CGM) of Union Bank of India from February 1, 2026.
• Shri Bhaskara Rao Kare finished his term on January 31, 2026. Accordingly, the position of Chief General Manager (CGM) became vacant. 
• He was earlier serving as a General Manager at Union Bank.

Topic: Corporates/Companies

5. The grant of ‘Miniratna’ Category-I status to Yantra India Limited has been approved by Raksha Mantri Rajnath Singh.

• He congratulated Yantra India Limited for transforming from a government organisation into a profit-making entity in about four years.
• Its sales grew from Rs 956.32 crore in 2021-22 (H2) to Rs 3,108.79 crore in FY 2024-25.
• Exports increased from zero in 2021-22 (H2) to Rs 321.77 crore in FY 2024-25.
• Yantra India Limited produces carbon fibre composites and ammunition assembly products.
• The company also makes assembly products for armoured vehicle, Artillery Guns and Main Battle Tanks.
• The Miniratna Category-I status allows the board to spend up to Rs 500 crore on new projects without government approval.
• The government corporatised the former Ordnance Factory Board into seven new DPSUs on October 1, 2021.
• Yantra India Limited is one of the newly formed Schedule ‘A’ Defence Public Sector Undertaking (DPSU).
• It functions under the administrative control of the Department of Defence Production.
• In May 2025, three other DPSUs also received Miniratna-I status.
• These were Munitions India Limited, Armoured Vehicles Nigam Limited, and India Optel Limited.

Topic: Reports and Indices

6. The National Statistics Office will carry out a Survey on Migration across the country during July 2026 to June 2027.

• The survey will be aimed at generating updated and detailed data on migration patterns in India.
• The survey will document the scale of migration in the country, characteristics of migrants, reasons for migration return and seasonal migration, and the employment profiles of migrants.
• Rural-to-urban migration and Inter-state migration will be covered.
• The National Statistics Office (NSO) operates under the Ministry of Statistics and Programme Implementation (MoSPI).
• MoSPI has conducted migration surveys regularly in the past.
• The most recent data came from Periodic Labour Force Survey (PLFS) 2020-21 and the Multiple Indicator Survey 2020–21.
• The PLFS 2020–21 showed India’s overall migration rate at 28.9 per cent.
• The survey highlighted a large gender gap in migration patterns.
• Male migration was 10.7 per cent nationally and female migration was much higher at 47.9 per cent.
• Marriage was the main reason for female migration. It accounted for about 86.8 per cent of all female migrants.
• Employment was the main reason for male migration. About 22.8 per cent of men migrated for work or better jobs.

Topic: Miscellaneous

7. First-of-its-Kind Women-Led Industrial Park inaugurated in Karnataka.

• On 4 February, a first-of-its-kind women-led industrial park initiative was inaugurated at Gowribidanur in Karnataka, marking a significant milestone in women-centric industrial development.
• The project was formally launched by FICCI FLO (FICCI Ladies Organisation) Bangalore, the women’s wing of the Federation of Indian Chambers of Commerce and Industry (FICCI).
• The FLO Bangalore Industrial Park was inaugurated in the presence of senior leaders from FLO, the Karnataka Industrial Areas Development Board (KIADB), and Karnataka Udyog Mitra (KUM).
• The industrial park has been planned as a 50-acre exclusive zone for FLO Bengaluru members.
• It aims to reduce long-standing entry barriers that have historically restricted women, especially first-generation entrepreneurs, from entering manufacturing and large-scale enterprises.
• It was stated that the park represents a shift not only in infrastructure but also in mindset regarding women-led industries.
• Gowribidanur was selected for its balanced connectivity, available infrastructure and long-term growth potential.
• The project is expected to promote decentralised industrial growth by generating local employment beyond metropolitan centres.
• The park has been designed as a complete ecosystem with single-window approvals, financial access and business guidance.
• Shared facilities such as skill centres, creche facilities and R&D support are planned to address the practical needs of women entrepreneurs.

Topic: Corporates/Companies

8. Walmart reached a $1 trillion market valuation and became the first retailer ever to reach market valuation of $1 trillion.

• This places Walmart among the world’s most valuable companies.
• Most of the world’s most valuable companies are technology giants.
• Walmart’s shares have gained nearly 468% over the past decade.
• The company attracts higher-income shoppers seeking value and convenience and retains its traditional lower-income customer base.
• Walmart has rapidly expanded its online marketplace and introduced one-hour delivery options.
• It also launched Walmart+ to compete with Amazon Prime and invested heavily and early in artificial intelligence.
• About one in every four dollars spent on groceries in the U.S. goes to Walmart.
• Walmart’s valuation challenges the idea that only tech firms reach $1 trillion.
• John Furner became Walmart’s global CEO on February 1.
• Walmart recently joined the Nasdaq-100 Index, which includes the most valuable non-financial U.S. companies.