• RBI has launched a mobile app “Mobile Aided Note Identifier (MANI)”. The visually challenged people can identify the denomination of a currency note by using the mobile app “MANI”. The application also works offline once installed. The application scans the currency notes using the camera of the mobile phone and also gives audio output in Hindi and English.
  • India has extended a line of credit (LoC) of USD 75 million (over Rs 500 crore) to Cuba. The LOC is being provided to finance solar parks in Cuba. 
  • Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest private sector port operator, has agreed to buy a 75% stake in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise value of Rs 13,572 crores.
  • RBI has revised its supervisory framework for Urban Co-operative Banks (UCBs).The revised framework aims to expedite resolution of UCBs experiencing financial stress.
    1. The revised framework stipulates the thresholds for various parameters that could trigger a corrective action by the UCBs or a supervisory action by the central bank.
    2. A UCB may be placed under supervisory action framework under the following conditions:
    3. When its Net Non-Performing Asset (NPA) exceeds 6% of its net advances.
    4. When its Capital to Risk (Weighted) Assets Ratio (CRAR) falls below 9%.
    5. When it incurs losses for two consecutive financial years or has accumulated losses on its balance sheet.
    • The Reserve Bank of India (RBI) has granted “in-principle” approval to Shivalik Mercantile Co-operative Bank Limited for transition into a Small Finance Bank (SFB). The transition into a SFB will be under the “Scheme on voluntary transition of Urban Co-operative Bank into a Small Finance Bank” issued on September 27, 2018.
    • Uber Technologies Inc and automaker Hyundai Motor have teamed up to develop electric air taxis.The partnership aims to make small self-flying cars to ease urban congestion.The team is heading towards a goal of launching Uber Air by 2023 and urban air mobility service in 2028.
    • The two Indian private sector lenders Axis Bank and ICICI Bank to close their operations in Sri Lanka after the Central Bank of Sri Lanka has permitted.
    • RBI has enabled select banks in India to offer round-the-clock (24×7) trading in the Indian rupee to allow Indians to safeguard their foreign exchange (Forex) risks at any time.
    • National Statistical Office (NSO) projects India’s GDP growth rate for 2019-20 at 5%.
    • SBI  has announced ‘residential builder finance with buyer guarantee’ (RBBG) scheme.The aim of the scheme is to giving a push to residential sales and improve homebuyers’ confidence.The SBI will issue a guarantee for completion of select residential projects to customers who have availed home loans from it.
    • Deutsche Bank has projected that Indian economy will reach $7 trillion by 2030. The estimation was stated by Deutsche Bank in its research report “Imagine 2030”.
    • RBI has revised the Know Your Customer (KYC) norms for banks and other lending institutions.New amendments in KYC norms by RBI allows banks and other lending institutions to use “Video based Customer Identification Process (V-CIP)”.The V-CIP is a consent based alternate method of establishing the customer’s identity and for customer onboarding from remote areas while leveraging the digital technology.
    • World Bank has released Global Economic Prospects report. In its report, the World Bank has projected India’s growth rate at 5% for fiscal year 2020.It has also projected India’s growth rate at 5.8% for fiscal year 2021.
    • SBI has released its research report ‘Ecowrap’. In the report ‘Ecowrap’, the economic research department of SBI has lowered India’s growth rate to 4.6% in the fiscal year 2020.
    • RBI has released a report “National Strategy for Financial Inclusion (NSFI): 2019-2024“. The National Strategy for Financial Inclusion for the period 2019-2024 has been formulated by RBI under the aegis of Financial Inclusion Advisory Committee (FIAC).
    • Income-Tax Department was launched 24×7 control room to monitor black money and illegal inducements in poll-bound Delhi. This facility will also host a toll-free number (1800117574). People can inform the department about any activity of use of money power, illegal distribution of cash etc.
    • SEBI  has deferred the deadline for the separation of the posts of Chairman & Managing Director or chief executive officer (CEO) for 500 listed companies by 2 years. 
    • The e-commerce company, Amazon has announced the incremental investment of 1 USD bn in India. The investment by Amazon will have the prime objective of digitising the small and medium businesses (SMB’s) in India.
    • Zomato” has announced the acquisition of Uber Eats business in India. Uber Eats is an Uber Technologies Inc’s food delivery business in India. The acquisition was done in an all-stock deal. The deals provides Uber with the 9.99% ownership in Zomato after the acquisition.
    • Essel Finance’s micro, small and medium enterprises (MSME) loan business has been acquired by Adani Capital Private Ltd. Through the acquisition, Adani Capital has secured a loan book of around Rs 145 crore.
    • The Bharti Airtel Ltd has received the approval from the Telecom department to increase the FDI in the company to 100%. The approval will enable Bharti Airtel company to raise more funds as per its requirement.
    • The UN has lowered India’s GDP growth rate to 5.7% for the Fiscal Year 2019-20 in its World Economic Situation and Prospects (WESP) 2020 report.
    • ICICI Bank has rolled out “Cardless Cash Withdrawal” service through ATM. The “Cardless Cash Withdrawal” service can be used for cash withdrawal having a per day transaction limit of Rs 20,000.
    • NPCI has launched a blockchain-technology based payment system ‘Vajra Platform’.
    • IMF has estimated India’s growth rate for the fiscal year 2019 as 4.8%. IMF has also projected India’s growth rate as 5.8% in 2020 and 6.5% in 2021.
    • The Certificate of Authorisation (CoA) of Vodafone m-pesa has been cancelled by Reserve Bank of India. Vodafone Idea closed the m-pesa after getting merged with the Aditya Birla Idea Payments Bank Limited in 2019.
    • RBI has increased the investment limit for Foreign Portfolio Investors (FPIs) from 20% to 30% in government & corporate bonds.
    • Reliance Jio has become the 1st telecom operator to facilitate UPI payments feature through its platform after launching the feature on the MyJio app and will be now competing with other private UPI payment providers such as Paytm, Google Pay and PhonePe.
    • A  USD 210 million loan agreement has been signed by the GOI and the Government of Maharashtra & the World Bank for Maharashtra Agribusiness and Rural Transformation Project.
    • GOI  announced a sale of 100% stake in debt-laden Air India. 
    • The Bombay Stock Exchange (BSE) has signed a licensing agreement with Intercontinental Exchange (ICE) Futures Europe. Intercontinental Exchange (ICE) Futures Europe is an operator of global exchanges and clearinghouses.
    • RBI appointed its Executive Director Janak Raj as member of the Monetary Policy Committee (MPC). He will replace M D Patra, who was recently elevated as Deputy Governor of the RBI.
    • Google announced a  1-million USD grant to promote news literacy among Indians. According to Google, the grant will work towards building a strong network of senior reporters and journalists, who will counteract fake news in India.