Banking Awareness of 8, 9, 10 and 11 March 2026

Topic: RBI

1. The promoters of AU Small Finance Bank has been exempted by RBI from holding their stake through a NOFHC.

• Earlier, RBI’s in-principle approval was given on 7 August 2025 for AU SFB’s transition from a Small Finance Bank to a Universal Bank.
• It had required AU SFB promoters to hold shares in the transitioned Universal Bank via a Non-Operative Financial Holding Company (NOFHC).
• The exemption was granted after a request from the bank.
• The NOFHC requirement will now apply only in specific situations.
• It will apply if the bank or its promoters plan to establish a new group entity in the future.
• This includes ventures into mutual funds or insurance after becoming a Universal Bank.
• RBI’s in-principle approval for the transition is valid for 18 months.
• AU SFB is the first small finance bank to receive this in-principle approval to become a Universal Bank.

Topic: Banking System

2. Swiggy and HDFC Bank launched two new co-branded credit cards.

• The cards are named Swiggy BLCK HDFC Bank Credit Card and Swiggy Ornge HDFC Bank Credit Card.
• These cards are being rolled out in phases.
• Applications can be submitted via the Swiggy app and through HDFC Bank’s digital channels.
• The BLCK card targets lifestyle and premium spenders. It offers 10 percent cashback on Swiggy transactions.
• It provides up to 5 percent cashback on entertainment spending. It also offers 5 percent cashback on travel and e-commerce purchases.
• The Ornge card is designed for everyday shoppers. It offers 5 percent cashback on Swiggy transactions.
• It also provides 5 percent cashback on selected online categories.
• Both cards provide 1 percent cashback on all other transactions.

Topic: Appointments

3. Phanindranath Kakarla has taken charge as Chief Executive Officer of Asset Reconstruction Company (India) Limited.

• He is also the Managing Director of the company.
• His appointment as CEO & MD is effective from 8 March 2026.
• He succeeds Pallav Mohapatra. Mohapatra led the company since March 2021.
• Kakarla joined Arcil on 2 April 2025 as President.
• Arcil highlighted his expertise in acquisition of stressed assets.
• Previously, he served as President at Arcil.
• Before joining Arcil, he held a senior leadership position at the Edelweiss Group.
• Asset Reconstruction Company (India) Limited was established in 2002.
• It was established as a public limited company under the Securitisation Act, 2002. It became first ARC in India.

Topic: Banking System

4. SBI launched $500 million syndicated social term loan to promote women empowerment.

• A $500 million syndicated social term loan facility has been launched by the State Bank of India to promote women’s empowerment initiatives.
• The financing initiative has been announced on the eve of International Women’s Day, highlighting its focus on advancing gender equality.
• The loan facility includes a greenshoe option and is exclusively dedicated to projects supporting women’s empowerment and social impact.
• The initiative has been described as a significant milestone for SBI and the global Environmental, Social and Governance (ESG) financing landscape.
• The financing programme aims to accelerate social impact initiatives and reduce the gender gap by supporting women-focused development activities.
• The initiative also contributes to the United Nations Sustainable Development Goal 5 (SDG-5), which focuses on achieving gender equality and empowering all women and girls.
• According to SBI Chairman C. S. Setty, the landmark social loan reflects the bank’s commitment to ESG principles and inclusive development.
• The financing programme emphasises that economic progress must be accompanied by meaningful social transformation and equal opportunities for women.
• Through this initiative, SBI intends to create stronger financial support systems that enable women to access opportunities and participate actively in economic growth.
• The launch of the syndicated social term loan is expected to strengthen global ESG financing efforts while promoting a more inclusive and equitable financial ecosystem.

Topic: Banking/Financial/Govt Schemes

5. The second phase of Viksit Bharat Yuva Connect Program launched in Delhi.

• On 9 March, the second phase of the Viksit Bharat Yuva Connect Program launched in New Delhi by the Ministry of Youth Affairs and Sports.
• The initiative is being organised through Mera Yuva Bharat (MY Bharat) to strengthen youth engagement with the national vision of Viksit Bharat 2047.
• It has been announced that more than 10,000 students from over 35 colleges across the national capital are expected to participate in the programme.
• The programme has been designed to connect young citizens with India’s development journey and encourage them to contribute as responsible nation builders.
• Various interactive sessions, dialogues and engagement activities will be organised during the programme to facilitate active youth participation.
• Youth icons, including presenters from the Viksit Bharat Young Leaders Dialogue, will interact with students and share their experiences.
• Winners of the Viksit Bharat Youth Parliament will also participate in the event to inspire greater youth involvement in national development initiatives.
• The programme has already been conducted in 274 universities and colleges across 22 States and Union Territories.
• Through these initiatives, nearly 20,000 young people have been mobilised so far to participate in discussions on nation-building and development goals.
• Registration and participation in the programme are being facilitated through the MY Bharat digital platform, mybharat.gov.in, enabling wider access for young citizens.

Topic: Appointments

6. Deepak Gupta assumed charge as Chairman and Managing Director of GAIL.

• Deepak Gupta has assumed charge as the Chairman and Managing Director of GAIL (India) Limited, the country’s largest natural gas transmission and marketing company.
• The appointment was made following the retirement of former CMD Sandeep Kumar Gupta on February 28.
• Deepak Gupta is a mechanical engineer from Delhi College of Engineering and possesses extensive experience in natural gas transmission, marketing and infrastructure development.
• Before assuming the top position, he had been serving as Director (Projects) at GAIL since February 2022.
• His tenure as Chairman and Managing Director is scheduled to continue until February 28, 2029.
• Under his leadership, the Dabhol breakwater project of Konkan LNG, a subsidiary of GAIL, was successfully completed, enabling all-weather operations at the facility.

Topic: Awards and Prizes

7. Mangaluru International Airport has been selected as the 2025 Airport Service Quality Award winner.

• This award recognizes it as the best airport at the time of arrivals.
• This recognition is based on passenger feedback collected through Airports Council International's independent survey program.
• The Arrivals category assesses the arriving passenger experience.
• Factors such as immigration efficiency, baggage delivery, cleanliness, ambiance, wayfinding, and comfort are considered.
• This is the second consecutive year that Mangaluru Airport has received the Global Arrivals Award.
• In 2025, six airports from around the world were shortlisted in the Arrivals category.
• Adani Airport Holdings Limited manages Mangaluru International Airport.
• The Airport Service Quality Awards ceremony will be held in Istanbul on September 2.
• The awards are part of the Airports Council International World Airport Experience Summit.

Topic: Miscellaneous

8. ‘Spoorthi’ Program launched by L&T Finance to support women entrepreneurs.

• A specialised program named “Spoorthi” has been launched by L&T Finance to support and empower women entrepreneurs across India.
• Under this program, specific relaxations and financial benefits are being provided to eligible women borrowers, particularly for housing and business expansion purposes.
• Extended loan tenors of up to 25 years for house property purchases or Loan Against Property (LAP) have been introduced under the scheme.
• Apart from this, Non-Banking Financial Company (NBFC) will provide Industrial LAP tenure up to 12 years.
• Enhanced eligibility norms, including higher debt-to-income ratios, have been introduced to provide greater financial flexibility to women entrepreneurs.
• To qualify for the programme, the woman borrower must hold at least a 50% stake in the business and play a key managerial role in the enterprise.
• It has also been specified that the borrower’s income must constitute at least 50% of the total appraised income when combined with other borrowers.
• The business applying for support must show an annual cash profit of at least ₹5 lakh according to the latest Income Tax Return and should not have reported losses in the last two years.
• The programme will initially be rolled out in major metropolitan regions such as Mumbai MMR, Delhi NCR, Bengaluru, Chennai, Pune, Ahmedabad, Kolkata and Hyderabad.
• Through the Spoorthi programme, L&T Finance aims to provide women with easier access to capital, strengthen women-led enterprises and promote a more inclusive financial ecosystem.