• State Bank of India has listed green bonds of $100 million (about Rs 750 crore) on BSE’s India International Exchange (India INX).

• The bank has listed green bonds under its USD 10 billion global medium-term note programme on India INX’s Global Securities Market Green Platform (GSM).

• SBI has adopted the green bond framework with the objective of creating a positive impact on the environment & this transaction is considered as part of the sustainability journey.

• The Reserve Bank of India (RBI) in consultation with the Government of India (GoI), has hiked the limit of Ways and Means Advances (WMA) for the centre to Rs 1.2 lakh crore for the first half of the financial year 2020-21(FY21), up from Rs 75,000 crore in the first half of FY20, and Rs 35,000 crore for the second half of 2019-20.

* Small Finance Banks (SFBs) have received permission from Reserve Bank of India (RBI) to carry out non risk sharing simple financial service activities that don not require any commitment of own fund, without seeking the latter’s prior approval.

* This permit is applicable only to those SFBs who have completed three years of operations.

* The Central Bank has also allowed for general permission to all existing SFBs to open banking outlets subject to adherence to Unbanked Rural Centre norms.

* Punjab National Bank (PNB) unveiled a new logo ahead of its merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC) from April 1 which bears the signages of all the three PSU banks.

* After the merger, PNB will become the second largest lender in India after the State Bank of India (SBI).

* OBC and UBI are the transferor banks while PNB is the transferee in this amalgamation process.

* ICICI Bank announced the launch of banking services on WhatsApp to enable its retail customers of their banking requirements from home in the wake of the nationwide lockdown to fight against corona virus through WhatsApp profile number 9324953001.

* Through this, one can check their savings account balance, last three transactions, credit card limit, pre-approved instant loan offers and block/unblock credit & debit card in a secure manner with end-to-end encryption.

* The Appointments Committee of the Cabinet (ACC) headed by Prime Minister (PM) Narendra Modi, has approved the extension of the tenure of RBI (Reserve Bank of India) Deputy Governor, Bibhu Prasad Kanungo for a period of one year up to April 3, 2021.

* His tenure is going to end on April 2, 2020.

* Kanungo was appointed as the Deputy Governor of RBI on April 3, 2017.He was assigned the portfolio of monetary policy and forecasting department in addition to his regular portfolio currency management after the exit of Viral Acharya.

* Union Finance Minister Nirmala Sitharaman announced a big consolidation of public sector banks in 2019.

* As per the scheme of amalgamation, 10 public sector banks are to be merged into 4 banks.

* Now, the Reserve Bank of India has notified with a circular that the mega merger of 10 PSBs will be effective from the start of new financial year i.e. 1st April 2020.

* Reserve Bank of India (RBI) declared an infusion of Rs 3.74 lakh crore into the banking system through three measures viz. targeted long-term repo operation (TLTRO), Cash Reserve Ratio (CRR) and marginal standing facility (MSF).

* The decision has been taken to tackle financial system stress raised due to the COVID-19 outbreak.

• The United Nations (UN) Department of Economic and Social Affairs (DESA) World Economic Forecasting Model estimates that the global economy could shrink by 1% in 2020 due to the coronavirus pandemic from an earlier forecast of 2.5%.

• The UN has also warned if the restrictions on economic activities are extended without adequate fiscal responses, the decline could be even deeper.

• The World Bank in report says that the economic fallout from the coronavirus pandemic could drive an additional 11 million people into poverty in East Asia and the Pacific.

• In the worse-case scenario outlined by the Washington-based financial institution, the region could suffer its sharpest downturn in more than two decades, plunging much of Asia into a prolonged recession.

• The bank's baseline forecast projects that regional growth could slow to 2.1% in 2020, compared to estimated growth of 5.8% in 2019.

• However, under its worse case projection, the region's economy could contract by 0.5%, creating the potential for an extended crisis.