Current Affairs - Banking

BOBCARD has launched the TIARA Credit Card, a premium financial product designed specifically for women. This card empowers modern women with exclusive perks in travel, health, dining, and lifestyle. It offers rewards like 15 points for every ₹100 spent on select categories, complimentary health packages, personal accident coverage, and lifestyle vouchers worth ₹31,000. Additional benefits include free OTT memberships, domestic lounge access, and reduced forex mark-ups. TIARA is powered by the RuPay network and aims to inspire financial autonomy with its slogan, ‘Your Woman Card is Your Power Move.’

SBI Card has surpassed 20 million credit cards in circulation, marking a significant achievement in its growth since its inception in 1998. The company maintained an impressive compound annual growth rate (CAGR) of 25% in card issuance and 26% in spending from FY19 to FY24. Despite being the second-largest issuer in India, following HDFC Bank, SBI Card continues to show strong growth, supported by innovations, customer-centric services, and expanding market reach across urban and rural areas. This milestone solidifies SBI Card's leadership in the competitive credit card industry.

IndusInd Bank has collaborated with UNICEF to mitigate climate risks and strengthen community resilience in five disaster-prone districts across India, including Dharashiv, Begusarai, Virudhunagar, Baran, and Bahraich. This partnership underscores the bank’s commitment to social responsibility and environmental sustainability, aligning its initiatives with global efforts to combat climate change and protect vulnerable communities.

Punjab National Bank (PNB), India’s second-largest public sector bank, has joined the Partnership for Carbon Accounting Financials (PCAF), demonstrating its commitment to sustainability and climate action. By adopting globally recognized standards for greenhouse gas emissions accounting, PNB aligns with the Reserve Bank of India’s draft climate risk guidelines. This initiative enhances the bank’s ability to disclose climate-related financial risks, participate in international knowledge-sharing forums, and access advanced tools and insights for carbon accounting, solidifying its role as a leader in responsible banking practices.

The State Bank of India successfully raised Rs 10,000 crore through its seventh infrastructure bond issuance, attracting strong demand from investors, including provident funds, pension funds, and insurance companies. The bonds were oversubscribed two times, reflecting market confidence in the bank. Proceeds from the issuance will support long-term financing for infrastructure development and affordable housing initiatives. This move aligns with the government's focus on boosting infrastructure growth and demonstrates SBI's commitment to supporting key sectors of the Indian economy.