• ‘Kisan Suvidha loan’ for small and marginal farmers has been launched by Ujjivan Small Finance Bank. The scheme will attempt to reach the bottom of the pyramid with products and services. Kisan Suvidha loan can be used by farmers for both agriculture and allied activities. It provides loans to individuals with an amount ranging from Rs. 60000 to Rs. 2 Lakh.
  • Paytm has launched hotel bookings on its platform and acquired Night Stay, which offers deals on last-minute bookings at luxury hotels, as the Alibaba-backed payments and e-commerce company expands its travel business.
  •  Bank of India, Bank of Maharashtra and Oriental Bank of Commerce have been allowed to exit the PCA framework fully.  In December, the government had announced a capital infusion of Rs 10,000 crore for Bank of India, Rs 5,500 crore for Oriental Bank of Commerce and Rs 4,500 crore for Bank of Maharashtra, which helped the banks coming out of the framework.
  •  Two regional rural banks (RRBs) - Pallavan Grama Bank and Pandyan Grama Bank - will be merged to form the Tamil Nadu Grama Bank as per the Finance Ministry notification. The new Tamil Nadu Grama Bank will be under the sponsorship of Indian Bank with head office in Salem.
  • Food delivery startup Swiggy has acquihired Bengaluru-based AI startup Kint.io for an undisclosed amount. As part of the deal, Kint.io's founding members Pavithra Solai Jawahar and Jagannathan Veeraraghavan will join the Swiggy team. 
  • The Asian Development Bank (ADB) has bought a 14% stake in micro-financier Annapurna Finance for Rs 137 crore, reinforcing the belief that India’s microfinance sector is on course to attract long-term funds from global lenders and investors.
  • Fitch Solutions, the research arm of Fitch Group, projected the government's fiscal deficit to overshoot the budgeted target by 0.2% to 3.6% of GDP in 2019-20 fiscal. 
  • The Reserve Bank of India has slapped an Rs1-crore penalty on Syndicate Bank and Rs 20 lakh on Axis Bank for violating norms. The penalty on Syndicate Bank is due to non-compliance with the directions regarding frauds and risk management systems. 
  •  Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Cardand crop loans up to 3 lakh rupees
  • RBI has released 6th Bi-Monthly Monetary Policy Statement. Monetary Policy Committee (MPC) decided to Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5% to 6.25% with immediate effect.Consequently, the reverse repo rate under the LAF stands adjusted to 6.0%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.5%. 
  • Fino Payments Bank (FPB) has announced the launch of a sweep account facility in association with Suryoday Small Finance Bank (SSFB). This partnership will help FPB address the issue of deposit limits that all the payment banks face at the moment. 
    As per the RBI payment banks can only take deposits upto rs 1 lakh per account.
  • RBI in the exercise of powers conferred under Section 47 A of the Banking Regulation Act, 1949 has levied a penalty of Rupees one crore on the State Bank of India  for not monitoring the end use of funds in respect of one of its borrowers.
  •  The Reserve Bank of India raised the limit of collateral-free agricultural loans to Rs. 1.6 lakh from the current Rs. 1 lakh with a view to help small and marginal farmers. The Union Budget had also announced measures to boost the farming sector in addition to annual payment of Rs. 6,000 to small and marginal farmers. 
  • Aegis Graham Bell Award 2018 announced Yes Bank as the winner in ‘Innovation in Data Science’ category for their industry-first project ‘Yes EEE (Engage Enrich Excel)’ at Panaji, Goa.
  • Reserve Bank of India decided to treat deposits to over Rs.2 crore as ‘bulk’ as they doubled the limit for the same from the earlier Rs.1crore. This move will enhance the operational freedom of Banks.
  •  State-owned power giant NTPC has announced that it has signed a term loan agreement for Rs 5,000 crore with State Bank of India. This loan has a door to door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC.
  • Amazon launched "Amazon Pay UPI" for Android users in partnership with Axis Bank to issue UPI IDs to its customers in India. With this, users would be able to use their Amazon Pay UPI ID to shop on Amazon.in, make payments for their daily purchases, including recharge and bill payments, without entering bank account or debit card credentials.
  • India with immediate effect has boosted the Customs Duty on all the goods imported from Pakistan to 200% followed by the day after India repealed Most Favoured Nation (MFN)status from Pakistan. 
  • The government of India gets Rs.10000 crore from Bharat-22 Exchange Traded Fund(ETF) by additional offering. The government has absorbed approximately Rs.46000 crore by way of disinvestment with the successful offering of Bharat-22 ETF. ICICI Prudential Mutual Fund AMC will manage the fund.
  • RBI withdrew the 20% limit on investments by FPIs in corporate bonds of an entity with a view to encourage more foreign investments. As part of the review of the FPI investment in corporate debt undertaken in April 2018, it was stipulated that no FPI should have an exposure of more than 20% of its corporate bond portfolio to a single corporate.
  • The Reserve Bank has announced that it will transfer an interim surplus of 28,000 crore rs to the central government for the half-year ended 31st December 2018. With this interim transfer, the government will get a total of Rs 68,000 crore from the central bank in the current fiscal. The RBI had transferred Rs 40,000 crore to the government in August 2018.
  • HDFC ERGO General Insurance Company, India's third-largest non-life insurance provider in the private sector, announced the launch of ‘Trip Protector' insurance policy, a pioneering policy in the non-life insurance segment in India. 
    In the event of a cancellation, either a flight or hotel booking, Trip Protector insurance policy will safeguard travelers financially against the cost of cancellation levied by Hotels or Airlines. 
  • The government has approved recapitalization of Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans.
    The government will infuse over 9000 rs in Corporation Bank and 6896 crore rupees in Allahabad Bank. Besides, 4638 crore rs will be provided Bank of India and 205 crore rs to Bank of Maharashtra.These banks have recently come out of the regulatory supervisory framework PCA of the RBI.
  • Employees' Provident Fund Organisation has hiked interest rate on employees' provident fund to 8.65% from 8.55% for the 2018-19 fiscal year. The announcement was made by Labour Minister Santosh Gangwar.
  • The Goods and Services Tax (GST) Council met for its 33rd meeting and slashed GST rate on under-construction residential properties and the affordable housing projects. In case of non-affordable houses, the GST rate for under-construction flats and houses has been brought to 5% without Input Tax Credit (ITC), down from the present 12%. In case of affordable houses, the GST rate has been reduced to 1% without ITC from 8%.
  • State-run Bank of Baroda has tied up with Germany's KfW Development Bank for funding of USD 113 million to refinance solar projects. The tie-up is part of an Indo-German Solar Energy Partnership signed in 2015.
  • RBI has taken off Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from the Prompt Corrective Action (PCA) framework allowing them to resume their normal lending activities.
  • RBI and Bank of Japan have signed a Bilateral Swap Arrangement (BSA). The BSA was negotiated between India and Japan during the visit of Prime Minister Narendra Modi to Tokyo in October 2018. The BSA provides for India to access 75 billion US dollars whereas the earlier BSA had provided for 50 billion dollars.