Current Affairs - Finance

The 6th Global Fintech Fest (GFF) 2025 was inaugurated at the Jio World Centre in Mumbai, marking one of the largest gatherings of global financial innovators and leaders. The three-day event, themed “Empowering Finance for a Better World Powered by AI,” focuses on fostering collaboration among regulators, fintech companies, and investors. It aims to drive innovation, explore emerging technologies in finance, and discuss strategies for inclusive financial growth. Hosting the event in Mumbai, India’s financial capital, underscores the city’s strategic importance in fintech development and global financial connectivity.

Union Finance Minister Nirmala Sitharaman launched the ‘Aapki Punji Aapka Adhikar’ campaign in Gandhinagar, Gujarat. The initiative focuses on helping citizens claim their rightful unclaimed financial assets from banks, insurance companies, and other financial institutions. With over ₹1.82 lakh crore worth of unclaimed assets lying dormant across the country, the campaign seeks to create awareness and streamline the process of reclaiming funds. Launching the campaign in Gandhinagar, a hub of financial and administrative activity, highlights the government’s commitment to improving financial inclusion and ensuring citizens have rightful access to their financial resources.

SIDBI’s net profit for FY25 grew by 19.5%, reaching an all-time high of ₹4,811 crore compared to ₹4,026 crore in FY24. This strong performance reflects not only the bank’s ability to generate sustainable growth but also its focus on maintaining asset quality, with net NPAs at 0%. Alongside this, SIDBI expanded its loan portfolio, strengthened MSME support through digital and green finance initiatives, and improved total income and EPS. The 19.5% profit growth underscores SIDBI’s robust role in India’s MSME ecosystem and its strategic alignment with national development goals.

Jio Payments Bank has introduced the “Savings Pro” facility to help customers earn higher returns on idle funds. Under this scheme, account holders can set a minimum balance threshold starting from ₹5,000, and any surplus above this amount is automatically invested in select overnight mutual funds. The facility offers returns of up to 6.5% per annum, with flexible redemption options allowing up to 90% instant withdrawal (maximum ₹50,000) and full redemption within 1–2 working days. Savings Pro combines the liquidity of a savings account with the growth potential of short-term investments, enhancing customer convenience through a fully digital process via the JioFinance app.

On September 22, 2025, the Government of India signed a $125 million loan agreement with the Asian Development Bank (ADB) to strengthen infrastructure in Assam. The initiative, called the Assam Urban Sector Development Project, aims to improve urban water supply, enhance flood management systems, and promote better urban governance. Around 360,000 residents are expected to benefit directly from this project. Key interventions include constructing six water treatment plants, laying 800 km of pipelines, and upgrading Guwahati’s drainage systems to reduce flooding. Additionally, institutional reforms such as GIS-based property tax databases and digital billing systems will ensure transparency and financial sustainability.