Current Affairs - Banking

YES Bank introduced the “YES Essence Women’s Salary Account” as a dedicated banking product aimed at supporting the financial, health, and lifestyle needs of working women. The account integrates multiple benefits such as a complimentary safe deposit locker for the first year, ₹5 lakh top-up health insurance coverage for the first year, and an annual preventive health check-up to promote wellness. It also provides an Elegance Debit Card offering cashback benefits on lifestyle categories like shopping, dining, and wellness. Through this initiative, the bank seeks to empower women with convenient financial services while also supporting their long-term financial security and overall well-being.

SBI General Insurance launched the campaign titled “Chuniye Bharosa, Apno Sa” and appointed well-known actor Pankaj Tripathi as its brand ambassador. The campaign highlights the company’s focus on building trust, reliability, and emotional connection with customers. Through this initiative, the insurer aims to position itself as a dependable partner that provides family-like protection and reassurance to policyholders. The messaging focuses on the importance of choosing an insurance provider that people can trust in times of need. By associating with Pankaj Tripathi, known for his authenticity and relatability, the company seeks to strengthen its brand image and connect more deeply with Indian consumers across diverse segments.

Bank of Baroda successfully raised ₹10,000 crore through its first-ever green infrastructure bonds issuance, marking one of the largest such issuances by an Indian public sector bank. The bonds were issued on March 6, 2026, in two tranches of ₹5,000 crore each with maturities of seven years and ten years, carrying coupon rates of 7.74% and 7.85% respectively. The bonds were listed on the BSE and NSE and received AAA (stable) ratings from CRISIL, ICRA, and India Ratings, indicating strong creditworthiness. The funds raised will be used exclusively for green and sustainable infrastructure projects such as renewable energy, energy efficiency, clean transportation, green buildings, pollution control, and climate change adaptation initiatives.

Bandhan Bank is the institution in which SBI Mutual Fund has been permitted by the Reserve Bank of India to acquire up to a 9.99% stake. The approval allows SBI Mutual Fund to become one of the largest non-promoter shareholders in the bank, signalling strong institutional confidence in its performance and future prospects. The investment reflects optimism regarding improvements in asset quality, expansion of its retail franchise, and overall growth strategy. This development is expected to strengthen the bank’s shareholding structure, improve investor sentiment, and support its long-term capital-raising and expansion initiatives.

Indian Overseas Bank introduced an Online Death Claim Settlement Portal to provide a simplified, transparent, and time-bound solution for families and legal heirs. The digital platform enables online submission of claimant details, document uploads, and real-time tracking of claim status, eliminating the need for repeated branch visits. For claims up to ₹15 lakh, the bank has removed the requirement of third-party surety and reduced documentation, ensuring settlement within 15 days. Alongside this initiative, the bank also launched a new corporate website, reinforcing its commitment to digital transformation while maintaining a compassionate, customer-centric approach.