Current Affairs - Banking

ICICI Bank has entered into a co-lending partnership with Piramal Finance to provide improved credit access to middle and low-income borrowers, particularly in semi-urban and rural areas. This collaboration focuses on offering affordable home loans and financial support to MSMEs, leveraging Piramal’s extensive branch network and ICICI’s banking capabilities. The initiative plays a crucial role in extending financial services to underserved populations in Tier 2 and Tier 3 cities, contributing to inclusive economic growth. By combining their strengths, the two institutions aim to create a streamlined credit delivery system tailored to regional needs.

Equitas Small Finance Bank, the second-largest small finance bank in India, appointed Balaji Nuthalapadi as Executive Director – Technology and Operations effective 29 March 2025. This strategic appointment reflects the bank’s strong focus on digital transformation, operational excellence, and enhanced customer experience. Balaji brings over two decades of experience in operations, digital banking, and financial services, having held leadership roles at Citi, including MD & Head of Operations and Technology for South Asia. His appointment, approved by the RBI and the bank’s board, supports Equitas’ broader vision to accelerate its digital-first mission while deepening its commitment to financial inclusion and social impact.

According to the information, 98.21% of ₹2000 notes have been returned to the banking system following their withdrawal in May 2023. This indicates a strong response from the public in exchanging or depositing the notes. The other options are incorrect percentages that do not reflect the actual return rate of ₹2000 notes.

Punjab & Sind Bank received the Top Improvers award in the EASE 6.0 Reforms Index, recognizing its significant progress in enhancing banking services, digital transformation, and customer-centric initiatives. This award is part of the government’s Enhanced Access & Service Excellence (EASE) initiative, which evaluates public sector banks on key performance metrics. Under the leadership of Swarup Kumar Saha, the bank focused on modernization, operational efficiency, and customer satisfaction, reflecting its commitment to excellence in the public banking sector.

Starting May 1, 2025, cash withdrawals from ATMs in India will become costlier as the Reserve Bank of India (RBI) has approved an increase in interchange fees. This fee applies when customers use an ATM from a different bank, and the additional cost will be passed on to them, especially when they exceed the free transaction limit. This decision is in response to rising operational costs faced by white-label ATM operators and is expected to impact customers, particularly those from smaller banks.