Current Affairs - Finance

Oman Air partnered with Wizzmoni Financial Services Ltd to launch the Wizz Voyager, an AI-powered co-branded multi-currency travel card for international travellers. The card supports more than 35 global currencies and is issued in partnership with VISA for worldwide acceptance. It offers features such as real-time transaction tracking, smart financial controls, and milestone-based rewards, including Oman Air flight vouchers and cabin upgrades. The card is aimed at frequent international travelers, tourists, students, and professionals. Oman Air is a member of the oneworld Alliance and began international flight operations in 1993.

Bharti Life Insurance is the target entity in the equity shareholding acquisition approved by the Competition Commission of India (CCI) on August 19, 2026. Prudential Corporation of India is the acquirer in the transaction, which involves the acquisition of a specific equity shareholding in Bharti Life Insurance. The CCI is responsible for enforcing the Competition Act, 2002, and preventing anti-competitive practices in India. It functions under the Ministry of Corporate Affairs and is headquartered in New Delhi. The approval demonstrates the role of competition authorities in reviewing significant corporate transactions to ensure fair competition in the market.

NSDL Payments Bank entered into a co-branded partnership with Paramotor Digital Technology Ltd on August 21, 2026, to launch industry-specific prepaid cards across India. The partnership will support prepaid card solutions for both enterprises and consumers across various payment networks. Paramotor Digital will use the banking infrastructure of NSDL Payments Bank for card issuance. The collaboration will cover platforms such as SpendPro for consumer spending management, Yayyy.shop for digital gifting, and RewardOn for rewards and loyalty services. All payment solutions developed under the partnership will comply with RBI regulations and be integrated with secure existing payment networks.

PhonePe signed a Memorandum of Understanding with the Ministry of Electronics and Information Technology (MeitY) on August 21, 2026, to integrate its PulsePro platform into the PM GatiShakti framework. PulsePro uses aggregated and anonymised transaction data to generate market signals and provide hyperlocal insights across different geographies and categories. These metrics will be integrated into the PM GatiShakti National Master Plan portal, which supports integrated infrastructure planning and coordinated project implementation. The partnership aims to strengthen data-driven infrastructure planning by providing useful insights that can help policymakers better understand economic activity and regional trends.

10.3% was the increase in gross loans of Regional Rural Banks (RRBs) during FY 2025-26. Their gross loans outstanding rose from ₹5.24 lakh crore in the previous financial year to ₹5.78 lakh crore. The growth reflects increased financing support for rural entrepreneurship, micro enterprises, agriculture, MSMEs, and weaker sections. RRBs also achieved an average of 91.7% against the Priority Sector Lending target, which is statutorily fixed at 75% of Adjusted Net Bank Credit. The expansion highlights the important role of RRBs in strengthening rural credit availability and supporting economic development in rural areas.