Current Affairs - Finance

Mobikwik, officially known as One Mobikwik Systems, received in-principle approval from the Reserve Bank of India (RBI) for a Payment Aggregator-Physical (PA-P) license on May 26, 2026. This approval allows the company to expand its services beyond online payments and facilitate offline merchant transactions as well. Payment Aggregators play a crucial role in enabling merchants to accept various payment methods from customers. Founded in 2009 and headquartered in Gurugram, Haryana, Mobikwik was co-founded by Bipin Preet Singh and Upasana Taku. The development strengthens the company’s position in India’s growing digital payments ecosystem.

The Asian Infrastructure Investment Bank (AIIB) launched a USD 10-billion financing facility on May 21, 2026, to assist member countries facing economic challenges arising from the West Asia conflict. Named the Energy, Food Security and Economic Resilience Facility, the initiative aims to strengthen energy security, food security, and economic resilience while supporting long-term infrastructure development and green transition efforts. The facility provides budgetary assistance, liquidity support, and financing for essential imports and critical expenditures. AIIB is a multilateral development bank headquartered in Beijing, China, with India as its second-largest shareholder. The initiative reflects AIIB's role in addressing global economic disruptions and promoting sustainable development.

Bajaj General Insurance launched 'My Health Care Plan Edge+' (MHCP EDGE+) on May 18, 2026, as a comprehensive health indemnity insurance solution designed to provide flexible and extensive medical coverage. The plan offers sum insured options ranging from ₹5 lakh to ₹5 crore and includes innovative features such as the Smart Tenure facility, Age Shield Rider, and unlimited reinstatement of the sum insured for multiple claims. Additional benefits include global medical coverage, protection for non-payable hospital expenses, and lifetime renewability. The product aims to enhance financial security against healthcare costs while offering greater flexibility and long-term value to policyholders.

Liberty Mutual Insurance increased its stake in Liberty General Insurance Limited (LGI) to 74% on May 18, 2026, up from 55.40% held since September 2025. The move followed changes in India's foreign direct investment (FDI) regulations, which allowed greater foreign participation in the insurance sector. Liberty Mutual, one of the world's leading insurers, aims to use the additional capital to strengthen its retail and commercial insurance businesses in India and improve insurance penetration. The development highlights growing international investment in India's insurance industry and reflects confidence in the sector's long-term growth potential.

Viyona Fintech, a Hyderabad-based fintech infrastructure company, secured NPCI certification for its payment technology framework covering UPI Acquirer, UPI Issuer, IMPS, and Interoperable Banking Mobile Banking (IBMB) integrations. This certification enables the company to support merchant QR acceptance, customer-side UPI issuance, and real-time fund transfer services. The infrastructure is particularly aimed at improving interoperable mobile banking and strengthening rural banking solutions. NPCI, which operates major retail payment systems like UPI and IMPS, plays a critical role in India’s rapidly growing digital payments ecosystem and financial inclusion initiatives.