• GST collection rose 28% in August to Rs 1.43 trillion
• India GDP increased by 13.5% in Q1 FY23
• National Minorities Development and Finance Corporation
(NMDFC) signed an agreement with ICICI
Bank for development of banking software
• Mahindra Finance partnered with CRIF Solutions for quicker
loan approvals
• All-India house price index increased by 3.5% in Q1 of 2022-
23
• Muthoot FinCorp partnered with IME India for money transfer
service to Nepal
• SBI Card launched cashback card
• Services exports increased 20.2% to $23.26 billion in July
2022 – RBI data
• IndusInd Bank partnered with ADB to support supply chain
financing
• SBI slashed India’s GDP forecast to 6.8% for FY23
• HDFC Bank introduced new SMS banking facility for
its customers
• India set to become 3rd largest economy in the world
• PSU banks to open about 300 branches in unbanked
areas by December 2022
• HDFC ERGO to build online insurance platform on Google
Cloud
• PNB MetLife launched new unit-linked insurance plan
• RBI selected HDFC Bank & Precision for retail payments test
phase
• ESAF Bank launched ‘rainbow account‘ for transgender
community
• IDFC First Bank partnered with ONDC on buy and sell side
application
• UPI transactions hit a record in August; processed 57 billion
(657 crores) transactions, totaling Rs 10.73 trillion, according
to NPCI Data
• European Central Bank (ECB) raised interest rates by an
unprecedented 75 basis points
• PhonePe tokenizes 14 million debit and credit cards
• HDFC Bank signed an MoU with Institute of Economic
Growth to conduct independent research
• India’s first Electronic Bank Guarantee issued by HDFC Bank
• Retail inflation surged up to 7% in August 2022
• DBS partnered with sandbox to launch ‘DBS BetterWorld’
• India’s exports of agri-food products up 30% in FY23 Q1
• Axis Bank and Square Yards launched co-branded home buyer
ecosystem
• HDFC Life Insurance launched Click2Protect Super term
insurance policy
• Government constituted an expert committee to examine and
suggest appropriate measures to address
regulatory and other issues, headed by M Damodaran
• Wholesale price-based inflation eased to 12.41% in August
2022
• Fitch slashed India’s FY23 growth forecast to 7%
• SBI surpassed Rs 5 trillion market cap
• ICICI Lombard introduced digital voice agent to track claim
status
• Gross Direct Tax Collection registered growth of 30% in 2022-23
• SBI WeCare FD scheme extended till March 31, 2023
• SBI collaborated with Remitly for secure and easy
remittance to India
• Singapore Central Bank partnered with India’s IFSCA to Pursue Fintech Innovations
• ADB slashed India’s growth forecast to 7% for 2022-23
• Defence Ministry signed
an MoU with BoB and HDFC under SPARSH initiative
• TerraPay partnered with NPCI to enable cross-border
transactions via UPI
• RBI canceled licence of Maharashtra-based Laxmi
Cooperative Bank
• Japan’s MUFG Bank injected Rs 3,000 crore in India biz
• Leh achieved 100 percent digitization of banking operations
• UCO Bank becomes first lender to get RBI’s approval for rupee
trade
• S&P Global projected India’s FY23 GDP growth at 7.3%
• Foreign Trade Policy 2015-20 extended further
• ADB to devote $14 billion to help ease food crisis in AsiaPacific
• Union Bank of India inaugurated ethical hacking lab
• ICRA maintained India’s FY23 GDP growth forecast at 7.2%
