• The State Bank of India reduced the base rate and benchmark prime lending rates by 30 basis points each, which will benefit nearly 80 lakh customers on the old pricing regime. SBI revised down the base rate to 8.65 percent for existing customers from 8.95 percent, while the benchmark prime lending rates are down from 13.7 percent, to 13.4 percent. The one-year MCLR of the bank stands unchanged at 7.95 percent.
  • The Centre unveiled the contours of the ‘Electoral Bonds’ scheme, which seeks to ensure the flow of clean money to political parties, without revealing the donors’ names. As per the Finance Minister Arun Jaitley, the electoral bonds will be a bearer instrument in the nature of a Promissory Note and an interest-free banking instrument. A citizen of India or a body incorporated in India will be eligible to purchase the bond from specified branches of the State Bank of India.The bonds can be purchased for any value in multiples of Rs1,000; Rs10,000; Rs1 lakh; Rs10 lakh; and Rs1 crore.
  • State-owned gas utility GAIL India Ltd has commissioned the country's second-largest rooftop solar power plant in Uttar Pradesh. The firm has installed a 5.76 MWp (Mega Watt peak) solar plant at its petrochemical complex at Pata in Uttar Pradesh. The plant over the roofs of warehouses covers a total area of 65,000 square meters. 
  • As per the HSBC report, India's growth rate is expected to accelerate at around 6.5 percent in 2017-18 and is likely to improve further to 7.6 percent by 2019-20.
  • Customers will not have to pay any transaction charges for payments through debit card, BHIM app and other payment made for up to Rs 2,000.
  • HDFC Bank has announced a partnership with Rajasthan Government to promote and nurture startups in the state.
  • State Bank of India and NABARD have signed an agreement with five NGOs in Bengal for the promotion of 2,500 joint liability groups (JLGs) in select districts of the State.
  • According to the Finance Ministry, RBI Bonds Scheme has not been closed but the interest rate on such papers lowered to 7.75 percent. 
  • The Reserve Bank of India has initiated 'prompt corrective action' (PCA) against Allahabad Bank over its high bad loans.
  • The NABARD has sanctioned Rs 372.51 crore loan assistance under the Rural Infrastructure Development Fund (RIDF) to Odisha towards irrigation and rural bridge projects for the last quarter of this fiscal. NABARD has also sanctioned 14 Rural Bridge Projects under Biju Setu Yojana with RIDF loan assistance of Rs 242.34 crore.
  • The Andhra Pradesh Grameena Vikas Bank (APGVB) has operationalised its first desktop ATM in Telangana. The mini-ATM within the branch premises will facilitate customers to withdraw small amounts.
  • The Indian Institute of Corporate Affairs (IICA) and India Post Payments Bank (IPPB) signed an agreement for the training of employees of the latter in the area of payment banking.
  • The Indian economy will expand by 6.5% in 2017-18, according to the new data of the government’s Central Statistics Office (CSO). It had released its first advance estimate for India’s GDP growth rate in the current financial year.
  • The Reserve Bank of India will shortly issue Rs10 denomination banknotes in the Mahatma Gandhi (New) Series. The new denomination has the motif of Sun Temple, Konark on the reverse. The base colour of the note is Chocolate Brown. The dimension of the banknote will be 63 mm x 123 mm.
  • Telangana Industrial Health Clinic Ltd (TIHCL), a State government initiative, has got RBI clearance to register and function as a non-banking finance company (NBFC).
  • Paytm Payments Bank has partnered Induslnd Bank to introduce a facility to create a fixed deposit (FD) when the customer balance exceeds Rs. 1 lakh at the end of the day.
  • The provisional figures of Direct Tax collections up to December 2017 show that net collections are at Rs. 6.56 lakh crore which is 18.2% higher than the net collections for the corresponding period of last year.
  • Karnataka topped all states with investment intentions of Rs. 1.49 lakh crore till October 2017,  according to R V Deshpande, Karnataka Minister for Large, Medium Industries and Infrastructure Development
  • IndusInd Bank and Dynamics Inc. at the 2018 Consumer Electronics Show (CES) announced plans to introduce the first battery-powered, interactive payment cards to the Indian market in 2018.
  • Retail inflation crossed the RBI’s comfort level and rose to 5.21 percent in December on rise in prices of food items, egg and vegetables, dashing hopes of interest rate cut in the near future. 
  • India has emerged as a top borrower from the China-sponsored Asian Infrastructure Investment Bank (AIIB) with USD 1.5 billion worth of loans last year and USD three billion more in the pipeline. 
  • Federal Bank has entered into a strategic partnership with Hedge Equities Ltd for providing Portfolio Investment Scheme (PIS) services to NRIs. A formal agreement was executed in which Jose K Mathew (EVP & Head Retail Business, Federal Bank) and Alex Babu (MD, Hedge Equities Ltd) exchanged the MoU announcing the tie-up.
  • IDFC Bank and Capital First has approved a merger of Capital First with IDFC Bank. Pursuant to the merger which is subject to regulatory and shareholder approvals, IDFC Bank will issue 139 shares for every 10 shares of Capital First. 
  • The Bombay Stock Exchange (BSE)'s India International Exchange listed the first bond on its Global Securities Market. 
  • The Country's exports grew by 12 point 36 percent in December 2017 to 27 point 03 billion US dollars on account of strong performance by sectors like engineering goods and petroleum products. 
  • Indian Oil Corporation has signed Letters of Intent (LoI) with Phinergy, an Israeli start-up company, and YEDA, a technology spin-off company from Weizmann Research Institute, Israel.
  • India’s largest IT services firm Tata Consultancy Services (TCS) has signed an over GBP 500 million (USD 690 million) deal with M&G Prudential, the UK and European savings and investments business of Prudential plc. 
  • Digital invoice discounting marketplace - Invoicemart has tied up with state-run lender Bank of Baroda to discount invoices for MSMEs. Buyers and sellers registered in the marketplace will now be able to access funding from Bank of Baroda.
  • India’s most-valued lender HDFC Bank Ltd crossed Rs5 trillion market capitalisation for the first time, making it only the third Indian company to achieve this milestone.
  • Facebook-owned instant messaging platform WhatsApp has rolled out a feature that connects small businesses with customers. Currently, only Android users can access the feature and they can avail of it through the latest update of the app.
  • Amplus Energy Solutions announced entering into a pact with private sector lender Yes Bank for strategic tie-up to co-finance projects in the solar energy space in India. 
  • India Ratings and Research has projected the country’s economic growth to improve to 7.1 percent in 2018-19 from 6.5 percent in 2017-18, buoyed by robust consumption demand and low commodity prices.
  • Mauritius was the largest source of foreign investment in India (21.8 per cent share at market value), followed by the US and the UK, according to a census by the Reserve Bank of India.
  • Banking finance company AU Small Finance Bank has signed an MoU with LIC to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Under the MoU, LIC will give a life cover of Rs2 lakh in case of death to the customer at a nominal premium of Rs330 per annum.
  •  India has emerged as the fifth most attractive market for investments and the optimism over global economic growth is at a record level, as per the survey of CEOs by global consultancy PwC.
  • The Public Sector exploration giant Oil and Natural Gas Corporation (ONGC) has got the consent for acquiring controlling stake in fellow PSU Hindustan Petroleum Corporation Ltd (HPCL). The transaction will be for Rs36,915 crore.
  • According to the International Monetary Fund (IMF), India is projected to grow at 7.4% in 2018 as against China’s 6.8%, making it the fastest growing country among the emerging economies. 
  • The Government of India, the Government of Uttarakhand and the World Bank Board signed a $120 million Loan Agreement which will help increase access to improved water supply services in peri-urban areas in the State of Uttarakhand.
  • Indian Overseas Bank has signed an MoU with National Housing Bank for the Rural Housing Interest Subsidy Scheme (RHISS) of the Ministry of Rural Development. The aim of the RHISS is to provide subsidy for housing loans taken by those living in rural areas for construction and modifications of their dwelling units.
  • Reliance Industries (RIL) become the first Indian company to cross the Rs6-lakh crore mark in market capitalisation as its shares touched a 52-week high of Rs974.5.
  • The National Investment and Infrastructure Fund (NIIF) has made its First investment. NIIF has partnered with DP World to create an investment platform for ports, terminals, transportation and logistics businesses in India.
  • Vodafone India has partnered with e-commerce marketplace Flipkart to provide a range of entry-level smartphones at an effective price of Rs999.
  • The government has announced 88,139 crore rupees capital infusion in 20 public sector banks, PSBs, during the current fiscal ending 31st March to boost lending and revive growth. IDBI Bank will get the most- Rs10,610 crore followed by Bank of India, Rs 9,232 crore.
  • The Ministry of Finance has announced that "Payments Banks and Small Finance Banks" will offer social security scheme Atal Pension Yojana (APY) to their subscribers. It was done to strengthen the existing channels of APY distribution.
  • India is ranked second only to South Africa as the cheapest country to live or retire, according to a recent survey of 112 countries by GoBankingRates. The survey ranked nations on the bases of four key affordability metrics which are Local purchasing power indexrent indexGroceries index, and Consumer price index.
  • Rating agency CRISIL has revised its outlook on 18 public sector banks (PSBs) from “negative” to “stable” after the government announced bank-wise capital infusion and reform plans.
  • Mobile payments company Paytm and Alibaba Group-owned AGTech Holdings Ltd have formed a joint venture to launch 'Gamepind' a gaming platform aimed at mobile users in India.
  • Google has introduced a new app named "Bulletin" that allows anybody to submit stories for and about their communities. This is a free, lightweight app for telling a story by capturing photos, video clips and text right from your phone.
  • Private sector Axis Bank launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil NaduIt is an annual multi-city knowledge series for Bank’s small and medium-sized enterprises (SME) customers. The current edition of 'evolve' is titled as “Transform your Family Business into your dream company”.
  • India has overtaken the US to become the world’s third-largest steel producer and the country is now looking to bag the second spot from Japan. Country’s crude steel production grew by 6.2% to 101.4 million tonnes, MT, in 2017 compared to 95.5 MT in 2016, according to the report by World Steel Association.
  • The Asian Development Bank and the Indian Government have signed a 250 million dollar loan to finance the construction of over 6 thousand 2 hundred kilometres all-weather rural roads in 5 states viz Assam, Chhattisgarh, Madhya Pradesh, Odisha and West Bengal under the Pradhan Mantri Gram Sadak Yojana (PMGSY).