Source: RBI Annual Survey (2025) Context: The Reserve Bank of India (RBI) released its annual Survey on International Trade in Banking Services (ITBS) for 2024–25, highlighting the performance of Indian banks’ overseas operations and foreign banks in India. Key Highlights: Category Indian Banks Abroad Foreign Banks in India Branch / Employee Growth – Overseas branches ↑ 1.9%– Employee strength ↑ 6.1% — Consolidated Balance Sheet Growth – Branches ↑ 9.1%– Subsidiaries ↑ 4.2% ↑ 17.5% Credit Growth Lending ↑ 5.6% ↑ 8.4% Deposit Growth Deposit mobilisation ↑ 9.4% ↓ 6.8% (vs. 16.4% last year) Income & Profitability – Overseas branches: • Interest income ↑ 8% (vs. 72% last year) • Interest expenses ↑ 9% (vs. 87.5% last year) • Income-to-assets ratio ↓ 5.9%– Subsidiaries: Ratio ↑ 7.4% Income-to-assets ratio ↓ 7.1% Fee Income Trends ↑ 4.3% ↑ 9.4% Main Fee Income Drivers Credit-related services, trading, payments, trade finance Same (credit-related, trading, payments, trade finance) Top Locations for Indian Banks’ Fee Income (2024–25): Significance

Source: Economic Times Context: The Reserve Bank of India (RBI) reported a steady improvement in the Supervisory Data Quality Index (sDQI), which evaluates the quality of data submitted by Scheduled Commercial Banks (SCBs). Key Highlights: Significance About sDQI

Source: BL Context: Paris-based Societe Generale has launched a new IFSC Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City), Gujarat, to enhance its financial services for Indian clients. About the Societe Generale IBU: About GIFT City:

Source: ET Context: In September 2025, the Securities and Exchange Board of India (SEBI) increased the minimum net worth requirement for custodians from ₹50 crore to ₹75 crore to strengthen risk management systems. Key Highlights: Custodian Responsibilities:

Source: BS Context: In September 2025, the Reserve Bank of India (RBI) reaffirmed its commitment to global best practices in the foreign exchange (FX) market by renewing its Statement of Commitment (SoC) to the FX Global Code. Key Highlights: About FX Global Code:

Source: BS Context: In September 2025, NPCI International Payments Limited (NIPL), a wholly owned subsidiary of NPCI, in partnership with Qatar National Bank (QNB), launched QR-based Unified Payments Interface (UPI) services for Indian travelers in Qatar. Key Highlights:

Source: TH Context: Bank of Baroda has been authorised by the International Financial Services Centres Authority (IFSCA) to operate as a Trading-Cum-Clearing Member (TCM) on the India International Bullion Exchange IFSC Limited (IIBX) at GIFT City. Bullion Exchange A Bullion Exchange is a marketplace where precious metals such as gold, silver, platinum, and other metals are traded in standardized forms. These exchanges facilitate buying, selling, and price discovery for bullion, usually in the form of bars, coins, or certificates. Key Features of a Bullion Exchange:

Context: Right through September, every passing week, the Indian rupee (INR) has been hitting all-time lows in its exchange value with the US dollar (USD). On September 23, the lowest level of 88.6 rupees to a US dollar was recorded. Causes of INR Weakness Cause Details / Explanation Trade Imbalance – Exports stagnant due to global protectionism. – High imports of oil (~85% dollar-priced), electronics, fertilizers → worsens current account deficit (CAD). Investment Slowdown – Weak corporate earnings and global uncertainty → FPI and FDI inflows sluggish or negative. – Example: Net FPI outflows of $1.5 bn recently, reducing dollar supply. Relative Currency Demand – Higher global demand for USD over INR, especially amid global financial tightening. Growth Concerns – Subdued GDP growth (~6.1% in Q1 FY26) lowers investor confidence. Global Financial Tightening – Attractive US asset returns pull capital out of India. Impact & Way Forward Aspect Details / Impacts Negative Impacts of Rupee Depreciation – Import Inflation: Costlier crude, fertilizers, electronics → domestic inflation rises. – Corporate Stress: Higher repayment burden on unhedged external commercial borrowings. – CAD Pressure: Expensive imports widen current account deficit. – Consumer Burden: Education, tourism, medical services abroad become costlier. Positive Impacts of Rupee Depreciation – Export Competitiveness: Indian goods cheaper in global markets. – Remittances & Tourism: NRIs benefit from higher rupee conversions. – Domestic Substitution: Encourages local manufacturing, supporting Atmanirbhar Bharat. Policy Landscape – RBI Measures – Limited intervention using $570 bn forex reserves to smooth volatility. – Avoids aggressive rupee defence to conserve reserves. Policy Landscape – Government Fiscal Measures – Reduce imports via PLI schemes, ethanol blending to cut oil imports. – Support domestic manufacturing and energy diversification. Structural & Global Alignment – Trade infrastructure: IMEC, National Logistics Policy. – Dedollarisation via BRICS+, local currency trade with UAE, Russia. Way Forward / Recommendations – Strengthen export competitiveness: High-value manufacturing, FTAs. – Diversify energy sources: Renewables, green hydrogen, ethanol blending. – Attract long-term capital: Policy stability, faster FDI approvals. – Enhance financial depth: Develop bond markets, promote rupee invoicing. – Calibrated RBI support: Smooth short-term volatility without exhausting reserves.