• The National Investment and Infrastructure Fund (NIIF) has acquired IDFC Infrastructure Finance (IDFC-IFL), an infrastructure debt fund. This acquisition is the first investment from NIIF’s strategic fund. The acquisition is subject to approval from RBI.
  • The finance ministry has announced that the sixth tranche of electoral bonds sale has been started and will continue for 10 days. Electoral bonds are being pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. 
  • Fitch ratings affirmed IDBI Bank’s long-term issuer default rating (IDR) at ‘BB+’ and its viability rating (VR) at ‘ccc’.
  • The Kirloskar group had announced that it has received licence from the Reserve Bank to launch a non-banking finance company (NBFC), Kirloskar Capital, which will be headed by industry veteran Vimal Bhandari.The group company will invest Rs 1,000 crore in the proposed NBFC, which will be a fully-owned subsidiary of Kirloskar Oil Engines.
  • In a first for India, HSBC Holdings Plc has executed a trade finance transaction using blockchain for an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) transaction substantially reduced the time taken for such deals.
  • The Reserve Bank of India (RBI) allowed banks to provide partial credit enhancement (PCE) to bonds issued by systemically important non-deposit taking  (NBFCs) registered with the RBI and housing finance companies (HFCs) registered with the National Housing Bank.The move is aimed at enhancing the credit rating of the bonds and enabling these NBFCs to access funds from the bond market on better terms. 
  • The Reserve Bank of India has initiated the process to set up a digital Public Credit Registry (PCR) to capture all the details of borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies.The public credit registry will also include data from entities like market regulator SEBI, the corporate affairs ministry, Goods and Service Tax Network and the Insolvency and Bankruptcy Board of India to enable the banks and financial institutions to get a 360-degree profile of existing and prospective borrowers on a real-time basis.
  • The Central and Andhra Pradesh governments and the World Bank have signed the loan agreement for a $172.20 million project to enhance agricultural productivity, profitability, and climate resilience of poor and marginalized farmers in Andhra Pradesh.
  • Unemployment rate in the country rose to 6.9% in October, the highest in two years, according to a report by the Centre for Monitoring Indian Economy (CMIE). The estimated number of people employed during October 2018 was 397 million.This was 2.4% lower than the rate in October 2017.
  •  The Reserve Bank of India is likely to establish an ombudsman for digital payments by March 2019 to take the load off the increasing number of complaints currently being handled by the banking ombudsman. RBI had announced that it was considering a plan to establish a separate ombudsman to handle consumer complaints related to digital transactions. 
  • RBI has liberalised the norms governing foreign borrowings for infrastructure creation “in consultation with the Government”. As per the notification, the minimum average maturity requirement for ECBs (external commercial borrowings) in the infrastructure space raised by eligible borrowers has been reduced to three years from earlier five years.
  • The RBI canceled the certificate of registrations of as many as 31 NBFCs for unspecified reasons.  It also canceled the certificate of registrations of 17 NBFCs following a request by them for the same. A majority 27 of 31 companies which lost licenses are from Bengal.
  • Meghalaya government announced Rs 378 crore investment in  the second phase of Aqua Mission.
     Mission 2.0 aims at addressing the 15,000 MT shortfall of fish production in the state within the next 5 years beginning April 2019.
  • Sunil Mehta, the chairman of a bankers' panel working on the faster resolution of stressed assets in public sector banks, had announced that an asset management company (AMC)for resolving large bad loans has been formed and will be called as Sashakt India Asset Management.The panel is now working towards identifying potential investors for an alternate investment fund (AIF) which will fund the AMC.
  • IndusInd Bank has launched a credit card Named Nexxt Credit Card which is India’s first Interactive card with buttons. The main feature of this card is that it provides customer the choice of payment options at the point of sale (POS) such as Credit, EMI with four tenure options which are 6, 12, 18, 24 Months and Using Accumulated Reward Points. As per banks the card is loaded with features which will elevate the shopping experience of the customer.
  • Karnataka Bank has launched a special campaign for opening current account and savings accounts (CASA).It has been introduced as introduced as a new SB scheme 'KBL SB - TASC' a specialized product for Trusts/Associates/Societies/Clubs. Bank intends to open more than 4.18 lakh Current & Savings accounts by the active involvement of its 8000 plus workforce in all the 823 branches across India.
  • Online fashion retailer Myntra will integrate its sister firm Jabong with itself and the integrated firm will continue to be led by Myntra CEO Ananth Narayanan. The company said since Myntra’s purchase of Jabong, the two brands have been steadily integrating key business functions and streamlining processes.
            •  The Government of India, the Government of Jharkhand and the World Bank signed in New Delhi a $310 million Loan Agreement for Jharkhand Power System Improvement Project to provide reliable, quality, and affordable 24x7 electricity to the citizens of Jharkhand.
            • SBICAP Ventures (SVL), an alternative asset manager and a wholly owned subsidiary of SBI Capital Markets, has launched two funds for the small and medium enterprises (SMEs) and affordable housing sectors.The SME fund is expecting to raise a corpus of Rs 400 crore, while the affordable housing fund would look at raising Rs 350 crore
            • The RBI board decided to set up a high-powered committee to examine issues related to the surplus capital of Rs 9.69 lakh crore with the central bank and advised it to consider a scheme for restructuring stressed assets in the MSME sector.At the crucial meeting of the board in Mumbai, it was also decided that the Board for Financial Supervision (BFS) of the RBI would examine the issues concerning the banks health under Prompt Corrective Action (PCA) framework and the Economic Capital Framework – ECF of RBI. 
            • National Stock Exchange of India (NSE) has launched a mobile application and web-based platform for retail investors to buy government securities. The new app - NSE goBID,was launched by Sebi chairman Ajay Tyagi.  The platform will allow retail investors to invest in treasury bills (T-Bills) of 91 days, 182 days and 364 days and various government bonds from one year to almost 40 years.
            • Paytm (One 97 Communications Limited) has partnered with the Life Insurance Corporation of India (LIC) to offer online insurance premium payments on its platform. Softbank-backed Paytm will provide premium payment solutions from over 30 insurance companies including LIC, ICICI Prudential Life, Reliance Life, and Max Life Insurance among others.
            • Markets regulator Security and Exchange Board of India (SEBI) has come out with new rules for re-classification of a promoter as a public investor, wherein an outgoing promoter will have to relinquish special rights as well as control over the affairs of the listed firm and not be allowed to hold over 10% stake. Besides, the promoter would not be allowed to have any representation on the board of directors or act as a key managerial person in the listed entity. 
            • The government will infuse INR 42,000 crore in the state-owned banks by March-end. The government earlier pumped INR 11,336 crore in five PSBs — PNB, Allahabad Bank, Indian Overseas Bank, Andhra Bank, and Corporation Bank — to improve their financial health. The government had announced the INR 2.11-lakh crore capital infusion programme in October 2017.
            • The Centre and Asian Development Bank (ADB) has signed a 200 million dollar loanagreement to finance widening and upgrading of about 230 Kilometers State Highways in Bihar to all-weather standards with road safety features.
            • The Reserve Bank has relaxed norms for External Commercial Borrowings (ECBs) by reducing the mandatory hedging provision to 70% from the current 100%. The relaxed norms will apply to the ECBs with a maturity period between 3 and 5 years.
            • Markets regulator SEBI (Securities and Exchange Board of India) has fined brokerage house Anand Rathi Rs 1 lakh for violating stock broker norms by transferring funds from the client's account to own account and vice versa on several occasions.
            • The Reserve Bank has launched a survey to gauge their scope with respect to turnover, profitability, and workforce with an aim to create a profile of India’s startup sector.  The survey would also throw light on the problems faced by the startup sector.
            •  The government has appro­ved 100 percent stake sale in state-owned airline Air India’s ground-handling company Air India Air Transport Services Limited (AIATSL). The approval comes at a time when the government is working on ways to revive the fortunes of Air India — estimated to have the debt burden of more than Rs 500 billion, including the sale of non-core assets.
            • Country’s largest bank State Bank of India has increased fixed deposit or FD rates for some select maturity periods. According to the revised rates, SBI is offering 6.8% interest rate on FDs with maturity period of one to two years, as compared to 6.7% earlier. The interest rate for senior citizens also goes up to 7.30% on SBI FDs with tenure between one year and two years, from 7.2% earlier. SBI has kept interest rate unchanged for FDs with other maturity tenures.