1. RBI says 98.21% of ₹ 2,000 notes returned to banks The Reserve Bank of India (RBI) announced that 98.21 per cent of ₹ 2000 banknotes have been returned to the banking system, leaving only ₹ 6,366 crore worth of such notes still with the public. 2. Gennova Bio Joins CEPI to Develop Vax Against Nipah Virus Gennova Biopharmaceuticals, a subsidiary of Emcure Pharmaceuticals, on Tuesday announced a partnership with the Coalition for Epidemic Preparedness Innovations (CEPI) for advancing the development of self-amplifying mRNA (saRNA) vaccine against the Nipah virus. 3. EPFO enhances payment options by adding 15 more banks to Direct Payment System Employees’ Provident Fund Organisation (EPFO) has expanded its Multi-Banking Centralised Collection System by empanelling 15 more banks, bringing the total number of banks in the panel to 32. 4. India achieve record high of renewable energy capacity addition of 25 gigawatts in the last financial year India’s renewable energy sector has achieved the highest-ever capacity addition in the last financial year by installing 25 gigawatts. 5. 98.21% of ₹2000 notes returned to banking system, legal tender status remains: RBI The Reserve Bank of India, RBI, has said 98.21 per cent of the 2000 rupee bank notes have been returned to the banking system. On May 19, 2023, the RBI announced the withdrawal of bank notes of the 2000 Rupee denomination from circulation. 6. Over 1 million manpower resources hired through govt e-Marketplace in Financial year 2045-25 Over 1 million manpower resources were hired through the digital procurement platform Government e-Marketplace (GeM) in the Financial Year 2024-25. Speaking on this achievement, the EO of GeM, Ajay Bhadoo, stated that the platform has harnessed digital capabilities and has emerged as a one-stop shop for all possible services required by government buyers at various levels of administration.
Government Deploys AI and IoT for Agricultural Advancement
Key Initiatives Impact on Agriculture By integrating AI and IoT, the government is modernizing agriculture, ensuring higher efficiency, sustainability, and farmer welfare across India. PIB
Maharashtra Government Scraps â‚ą1 Crop Insurance Scheme Amid Fiscal Strain
Key Developments Maharashtra’s decision to scrap the ₹1 crop insurance scheme reflects deepening fiscal challenges. The government is now shifting towards sustainable agricultural investments while cutting populist spending to balance its finances.
RBI Eases Pension Payment Rules for Government Pensioners
Key Announcements: Impact on Pensioners: RBI’s new guidelines enhance efficiency, transparency, and convenience in pension disbursements, reducing financial stress for government pensioners and their families. BS
RBI Increases Liquidity Access for Standalone Primary Dealers
Context: The Reserve Bank of India (RBI) has raised the Standing Liquidity Facility (SLF) limit for Standalone Primary Dealers (SPDs) from ₹10,000 crore to ₹15,000 crore, effective April 2, 2025. The Standing Liquidity Facility (SLF) The Standing Liquidity Facility (SLF) is a collateralized liquidity facility provided by the Reserve Bank of India (RBI) to standalone primary dealers (SPDs), offering them access to funds at the prevailing repo rate to meet their liquidity needs. Market Impact This move is part of RBI’s broader liquidity management strategy, ensuring efficient market operations while supporting SPDs in fulfilling their role as key intermediaries in the government securities market. BS
Axis Bank & JP Morgan Enable 24/7 Blockchain-Based USD Clearing
Key Highlights Strategic Benefits Industry Impact Axis Bank’s integration with JP Morgan’s Kinexys platform is a game-changer for cross-border finance, offering real-time USD clearing, enhanced liquidity, and blockchain security. This move positions India’s banking sector at the forefront of digital financial innovation.
India’s GST Collections Surge
Key Highlights Annual Trends & Insights State-Wise Growth Impact & Future Outlook The sustained growth in GST revenue highlights India’s resilient economy, but slowing consumption and rising imports may prompt policy adjustments and tax enforcement measures in the coming months. TOI
Treasury Heads Urge RBI to Cut CRR
Key Demands from Treasury Heads & Asset Managers Current Liquidity & Rate Challenges Upcoming RBI Policy Review & Expectations RBI’s Liquidity Measures: â‚ą80,000 Crore OMO Announced TET
RBI Issues Master Direction on Interest Rates for Deposits
Context: The Reserve Bank of India (RBI) has released a comprehensive Master Direction (MD) on interest rates for deposits, effective immediately. Key Directives Under the New Master Direction Implications The RBI’s new directive aims to standardize deposit interest rates while promoting fair banking practices and financial stability. BS
RBI’s Vision
Context: The next decade will be crucial for shaping India’s financial architecture, and the Reserve Bank of India (RBI) will take all necessary steps to enhance access, efficiency, and resilience, said Governor Sanjay Malhotra. Key Focus Areas for RBI Governor’s Perspective on Future Challenges & Opportunities Governor Malhotra highlighted that the RBI stands at the intersection of tradition and transformation, balancing price stability, financial security, and economic growth amid global uncertainties, climate challenges, and technological advancements. He emphasized that continuous adaptation, innovation, and agility are essential to navigate the evolving financial landscape, ensuring that India’s financial system remains resilient and future-ready. RBI’s vision for the coming decade is centered on deepening financial inclusion, embracing innovation, and maintaining financial stability. With a strong regulatory approach, modernized frameworks, and collaborative efforts, the central bank aims to steer India’s financial sector toward sustainable and inclusive growth. BS
