JAN'25

Monthly Current Affairs 2026

Banking and NBFC News

HDFC Bank Integrates Digital Rupee CBDC into SmartGateway Platform

  • **Integration Details: ** HDFC Bank has integrated the Digital Rupee (e₹), India's Central Bank Digital Currency (CBDC), into its online merchant payment platform, SmartGateway.

  • Issuing Authority: The Digital Rupee is issued by the Reserve Bank of India as part of its Central Bank Digital Currency initiative.

  • Payment Support: SmartGateway supports Digital Rupee payments in addition to existing payment methods including:

    • Unified Payments Interface (UPI)

    • Debit and credit cards

    • Net banking

HDFC Bank Overview

  • Founded: 1994

  • Headquarters: Mumbai, Maharashtra

  • Chairman: Atanu Chakraborty

  • CEO: Sashidhar Jagdishan

Federal Bank Launches Refreshed Brand Identity ‘The Fortuna Wave’

  • Launch Event: Federal Bank unveiled a refreshed brand identity called "The Fortuna Wave" in Mumbai, Maharashtra.

  • Brand Ambassador: Vidya Balan, prominent Indian actress, was present at the launch.

  • Purpose of Rebranding: This is part of a strategic initiative to modernize the bank's brand identity.

  • Visual Insignia: The new insignia symbolizes:

    • Authenticity

    • Togetherness

    • Prosperity

  • Design Changes: The design replaces the previous boxed structure with a more fluid and adaptable form, improving visibility on both digital and physical platforms.

Federal Bank Overview

  • Founded: April 23, 1931

  • Headquarters: Kochi, Kerala

  • MD and CEO: K.V.S. Manian

State Bank of India Opens Global Capability Centre

  • Event: CS Setty, Chairman of SBI, inaugurated the bank's first Global Capability Centre (GCC) in Bengaluru.

  • Significance: This is the first of its kind initiative by any Indian bank.

  • Definition: A Global Capability Centre is an in-house center established by an organization to handle core and strategic functions for its global operations.

SBI's International Trade Initiative

  • Objective: SBI is facilitating India-Israel trade settlements in Indian Rupees (INR), contributing to India's efforts to internationalize the rupee.

  • Presence: SBI is the only Indian bank with a physical branch in Israel, located in Tel Aviv.

  • Regulatory Approvals: SBI's Tel Aviv branch has received all necessary regulatory approvals for rupee trade.

Mechanism for Trade Settlement

  • Procedure: Israeli exporters and importers will make payments in Indian Rupees through a Special Rupee Vostro Account.

  • SBI's Presence: SBI has been fully operational in Israel since 2007, despite regional instabilities and conflicts.

  • Special Rupee Vostro Account:

    • Definition: It enables foreign banks to maintain Rupee-denominated accounts with Indian banks to facilitate international trade settlements in INR.

State Bank of India Overview

  • Founded: July 1, 1955

  • Headquarters: Mumbai

  • Chairman: Challa Sreenivasulu Setty

  • Tagline: "The Banker to Every Indian"

EXIM Bank Raises $1 Billion Through Bonds

  • Details: Export-Import Bank of India (EXIM Bank) raised $1 billion by issuing US dollar-denominated bonds.

  • Significance: This marks India's first overseas bond issue for 2026.

  • Bond Structure: The bond issue was done in two tranches:

    • $500 million: 10-year bonds with a 5.00% interest rate.

    • $500 million: 30-year bonds with a 5.75% interest rate.

  • Use of Funds: The raised funds will finance overseas investments and the import of capital goods.

EXIM Bank Overview

  • Founded: January 1, 1982

  • Headquarters: Mumbai, Maharashtra

  • Chairman and Managing Director: Harsha Bangari

  • Function: The bank's primary function is to finance, facilitate, and promote India's international trade.

IDFC FIRST Bank Launches ‘Gaj’ Metal Credit Card

  • Event: IDFC FIRST Bank has launched an invitation-only credit card named ‘Gaj’ for select private banking clients.

  • Context: This is the third offering in the bank's premium metal card trilogy, following the Ashva and Mayura editions.

IDFC FIRST Bank Overview

  • Launched Banking Operations: October 1, 2015, following the merger between IDFC Bank and Capital First.

  • Parent Entity Founded: 1997

  • Headquarters: Mumbai, Maharashtra

  • CEO: V. Vaidyanathan

IDFC FIRST Bank Launches Zero-Forex Diamond Reserve Credit Card

  • Objective: Aimed at affluent global travelers.

  • Key Feature: Zero forex markup on all international spending, helping customers save on foreign currency transactions.

Axis Bank Launches ‘Safety Centre’ on Mobile App

  • Details: Axis Bank introduced the ‘Safety Centre’ feature in its mobile banking app 'open' to enhance customer security.

  • Functionality: Customers can control important security settings independently, without having to call customer service or visit bank branches.

Axis Bank Overview

  • Formerly Known As: UTI Bank

  • Founded: December 3, 1993

  • Headquarters: Mumbai, Maharashtra

  • MD and CEO: Amitabh Chaudhry

  • Chairperson: P. N. Prasad

ICICI Bank Launches Capital Gains Account Scheme

  • Effective Date: January 1, 2026

  • Purpose: Enables taxpayers to park un-invested long-term capital gains and claim tax exemptions under the Income Tax Act, 1961.

  • Conditions: Gains must be deposited before the due date of filing the Income Tax Return to avail tax exemption benefits.

ICICI Bank Overview

  • Founded: 1994

  • Headquarters: Mumbai, Maharashtra

  • MD and CEO: Sandeep Bakhshi

  • Part-time Chairman: Pradeep Kumar Sinha

  • Tagline: "Hum Hai Na, Khayal Aapka"

Tamilnad Mercantile Bank Partners with TechFini

  • Partnership Objective: To strengthen Unified Payments Interface (UPI) infrastructure.

  • Role of TechFini: Acts as the technology service provider managing UPI switching through its platform.

Tamilnad Mercantile Bank Overview

  • Founded: May 11, 1921

  • Headquarters: Thoothukudi, Tamil Nadu

  • MD and CEO: Salee Sukumaran Nair

Amazon Pay Expands Fixed Deposit Offerings

  • Partnership: Amazon Pay has partnered with seven entities to offer fixed deposits through its platform for Indian users.

  • **Partner Entities: **

    • NBFCs: Shriram Finance and Bajaj Finance.

    • Banks: Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice Small Finance Bank, and Utkarsh Small Finance Bank.

  • User Requirement: Users can start a Fixed Deposit (FD) with a minimum of ₹1,000 without needing separate savings accounts.

India Post and SIDBI Collaboration

  • Agreement: Department of Posts (DoP) and the Small Industries Development Bank of India (SIDBI) signed an MoU for nationwide verification of informal enterprises.

  • Implementation: This agreement covers the Contact Point Verification (CPV) of Informal Micro Enterprises (IMEs) registered on the Udyam Assist Platform.

  • Duration: The MoU is valid from December 31, 2025, to December 30, 2027, with an option of extension.

SIDBI Overview

  • Established: April 2, 1990

  • Headquarters: Lucknow, Uttar Pradesh

  • Chairman: Manoj Mittal

  • Function: SIDBI is the apex regulatory body for the overall licensing and regulation of micro, small, and medium enterprise finance companies in India.

FITT, IIT Delhi Collaborates with IDFC FIRST Bank

  • Event Purpose: Launched a new cohort under the IGNITE Program to support high-impact startups.

  • Program Objectives: Nurture startups focusing on sectors such as climate technology, clean energy, healthcare, agri-tech, mobility, education, and AI-based solutions for social good.

  • Launch Event: Held at the FITT, IIT Delhi campus, involving interactions between bank leadership and selected startups.

Note: The information provided captures detailed aspects of financial institutions and significant banking news relevant to current affairs as of January 2026.