Current Affairs - Banking

The Federal Bank has entered into a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI) to provide enhanced financial support to micro, small, and medium enterprises (MSMEs). This partnership aims to improve the MSME ecosystem by offering a variety of financing services, such as project finance, machinery loans, working capital support, and loans against property. The collaboration also explores joint financing options to make credit more accessible to MSMEs, aligning with the government’s focus on bolstering the MSME sector.

HDFC Bank signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) and CSC Academy to launch Project HAKK (Hawai Anubhavi Kalyan Kendra). This project is aimed at assisting defence pensioners, veterans, and their families by providing financial services, skill development, and promoting economic inclusiveness. It is part of HDFC Bank's Parivartan initiative, which focuses on supporting ex-servicemen and their families across various regions in India.

Indian Overseas Bank has partnered with the Confederation of Indian Industry-Indian Green Building Council (CII IGBC) to offer preferential financing for developers of IGBC-rated green buildings. This collaboration aims to promote sustainable construction practices by providing accessible financing options for developers and home buyers. The initiative is part of the bank's effort to support environmental sustainability and contribute to the development of green buildings, which are designed to be environmentally responsible and resource-efficient throughout their lifecycle.

City Union Bank (CUB) partnered with Chennai Super Kings (CSK) to launch an exclusive co-branded credit card. This collaboration offers CSK fans a unique financial product with exciting rewards, exclusive offers, and cricket-related experiences. The card features a CSK-themed design and provides benefits like reward points on purchases, special discounts on CSK merchandise, priority access to events, and bonus points for purchasing match tickets. The partnership aims to increase fan engagement while allowing customers to express their loyalty to CSK through financial benefits.

YES BANK, India’s sixth-largest private sector bank, hosted the Export Conclave 2025 in collaboration with the World Trade Center (WTC) Mumbai at YES BANK House. The event focused on empowering MSMEs and enhancing India's export ecosystem. Key highlights included the strategic partnership between YES BANK and WTC Mumbai, aimed at improving MSMEs’ access to credit, providing trade facilitation services, and offering global market insights. YES BANK also introduced initiatives such as YES Exports to support export-oriented businesses and MSME entrepreneurs.