The Banker names DBS Global Bank of the Year 2025
[Asian Development Bank (ADB)]
Key Updates:
- DBS has been named Global Bank of the Year 2025 by The Banker.
- This marks DBS's third win in the Global Bank of the Year category.
- DBS also secured Asia Bank of the Year, Singapore Bank of the Year, Investment Bank of the Year – Asia, and Investment Bank of the Year for Financial Institutions Group.
- The awards were decided from submissions by 294 banks globally.
- The Banker highlighted DBS's investment in AI to protect customers from financial scams and its commitment to training staff on new technology.
- DBS's work on smart contracts designed to deliver faster, smoother payments across jurisdictions impressed the judging committee.
- DBS's approach to applying AI, machine learning, and digital infrastructure across operations and customer services was a key factor in the assessment.
- DBS recently crossed $100 billion in market capitalisation in 2024, becoming the first Singapore-listed company to do so.
- For FY24, DBS recorded 11% growth in net profit and 11% growth in Tier-1 capital.
- DBS's return on equity was 18%, cost-to-income ratio was 39.9%, and non-performing loan ratio was 1.1% for FY24.
Similar / Past Coverage
- Bank of Baroda (BoB) received the 'Best Bank in India' title from The Banker, a Financial Times publication, at the 2025 Asia-Pacific awards.
- BoB operates phygital branches that allow customers to obtain statements, generate income tax payment certificates, update nominees and receive financial advice over video calls.
- BoB has opened 184 new branches across India to expand reach.
- BoB's Smart OD product provides small businesses quick working capital within 24 hours based on transaction history.
- BoB offers liquid fixed deposits with higher interest rates and anytime withdrawal without loss of earnings.
- Shri Vivekanand Gupta, Regional Provident Fund Commissioner of EPFO, has been selected for the Public Financial Asset Management (PFAM) Program 2025–26.
- He is the only Indian and the first EPFO official to be selected for this program.
- The PFAM Program is jointly organised by the World Bank–Milken Institute.
- The program is hosted at Bayes Business School, UK.
- It provides advanced training in capital markets and asset management to professionals from central banks, sovereign wealth, and pension funds.
- State Bank of India received the 'World's Best Consumer Bank 2025' and 'Best Bank in India 2025' awards from Global Finance, New York.
- SBI serves 520 million customers and adds 65,000 new customers daily.
- The bank's home loan portfolio has crossed Rs 8.5 lakh crore.
- As of June 2025, SBI's deposit base is over Rs 54.73 lakh crore with a CASA ratio of 39.36 per cent and advances of more than Rs 42.54 lakh crore.
- SBI commands a market share of 27.7 per cent in home loans and 19.03 per cent in auto loans.
- The bank has 22,980 branches and 62,200 ATMs/ADWMs, along with over 76,800 BC outlets.
- YONO, SBI's digital platform, has more than 9.04 crore registered users and witnessed 27.4 lakh new registrations in Q1FY26.
- During Q1 FY26, SBI disbursed pre-approved personal loans worth Rs 1,791 crores through YONO.
- The sixth edition of Global Fintech Fest 2025 (GFF 2025) was held in Mumbai from October 7-9.
- The Global Fintech Awards (GFA) 2025 were instituted under GFF 2025 and announced at a gala on October 8 at Jio World Centre, Mumbai.
- IDFC FIRST Bank won accolades under the Excellence in Banking Tech category for its Green Banking Initiative and Digital Transformation Program of the Year.
- Yubi was named the Fintech Startup of the Year.
- Ms. Upasana Taku, Co-founder & CFO, MobiKwik, received the Fintech Person of the Year – Female award.
- Mr. Yashish Dahiya, Chairman, PB Fintech, received the Fintech Person of the Year – Male award.
Asian Development Bank (ADB) raises India’s FY26 growth forecast to 7.2%
[Asian Development Bank (ADB)]
Key Updates:
- Asian Development Bank (ADB) raised India’s growth forecast for FY26 to 7.2 per cent from 6.5 per cent.
- The upgrade for India is 0.7 percentage points.
- ADB forecasts Asia to grow at 5.1 per cent in 2025, higher than its earlier projection of 4.8 per cent.
- The 2025 growth estimate for India has been revised to 7.2 per cent.
- India recorded GDP growth of 8.2 per cent in the second quarter ending September.
- India's GDP growth was 7.8 per cent in the first quarter, taking the growth rate for the first half of the financial year to 8 per cent.
- ADB kept its FY27 forecast unchanged at 6.5 per cent.
- ADB revised the inflation forecast for FY2026 down to 2.6 per cent from 3.1 per cent in September.
- Reserve Bank of India (RBI) increased its GDP growth estimate for the ongoing financial year to 7.3 per cent from 6.8 per cent.
- RBI places real GDP growth for the full year at 7.3 per cent.
- RBI projects Q3 growth at 7 per cent and Q4 at 6.5 per cent.
Similar / Past Coverage
- The Reserve Bank of India (RBI) revised India’s GDP forecast for FY2025-26 upwards to 7.3% from the earlier 6.8%.
- RBI raised Q3 FY26 growth estimate to 7.0% from 6.4%.
- RBI raised Q4 FY26 growth estimate to 6.5% from 6.2%.
- RBI raised Q1 FY27 growth projection to 6.7% from 6.4%.
- RBI projected Q2 FY27 growth at 6.8%.
- RBI’s Monetary Policy Committee (MPC) cut the policy repo rate by 25 basis points to 5.25%.
- India’s economy grew 8.2% in Q2 FY25, 7.8% in Q1 FY25, and 6.5% for full-year FY25.
- RBI announced Rs 1 lakh crore OMO purchases and a 3-year USD/INR swap of USD 5 billion.
- IMF projects India to become the world’s fourth-largest economy by end of 2025.
- Moody's Ratings projects India's GDP growth at 7% for 2025, 6.4% for 2026 and 6.5% for 2027.
- India's economy expanded 7.8% in the April-June period and 6.5% in FY25.
- Inflation in India is expected to average around 3.5% in 2026 and 4% in 2027, after averaging 2.5% between January and October this year.
- Global economic growth is forecast by Moody's to range between 2.5% and 2.6% in 2026 and 2027, compared with 2.6% in 2025 and 2.9% in 2024.
- The US is forecast to grow 1.8% in 2026 and 1.9% in 2027, while China's GDP will expand by 4.5% and 4.2% over the same period.
- Indian merchandise exports rose 6.8% in September, while exports to the US fell 11.9%.
- India Ratings and Research raised India's FY26 GDP growth projection to 7% YoY, 70 basis points higher than its July 2025 forecast of 6.3%.
- The RBI has projected India's GDP growth for FY26 at 6.8%.
- India's real GDP grew 7.8% YoY in Q1 FY26, the fastest pace in five quarters.
- Ind-Ra expects private final consumption expenditure (PFCE) to grow 7.4% YoY in FY26, up from 7.2% in FY25.
- Indian exports to the US fell 11.9% YoY in September 2025 and 8.9% YoY in October 2025.
- Indian exports to the US averaged USD 7.4 billion per month from April to October 2025, but dropped to USD 5.9 billion in September-October 2025.
- India Ratings and Research (Ind-Ra) expects GDP in FY26 to grow 7 per cent year-on-year.
- Ind-Ra revised forecast 70 basis points higher than earlier 6.3 per cent projected in July 2025.
- Reserve Bank of India (RBI) projected India's GDP growth in current fiscal at 6.8 per cent.
- India's real GDP grew 7.8 per cent in April-June period of FY26.
- India's GDP expanded 6.5 per cent in last fiscal year.
- Ind-Ra expects private final consumption expenditure to grow 7.4 per cent YoY in FY26.
- Private final consumption expenditure grew 7.2 per cent in FY25.
- Indian exports to US fell 11.9 per cent YoY in September 2025.
- Indian exports to US fell 8.9 per cent YoY in October 2025.
- Indian exports to US averaged USD 7.2 billion per month in FY25.
- Indian exports to US averaged USD 7.4 billion from April to October 2025.
- Indian exports to US dropped to USD 5.9 billion during September-October 2025.
International Monetary Fund imposes 11 new bailout conditions on Pakistan
[International Monetary Fund (IMF), Pakistan]
Key Updates:
- The International Monetary Fund (IMF) has added 11 fresh conditions to Pakistan’s $7-billion bailout programme during its second review.
- These new conditions push the total to 64 conditions in just 18 months.
- The IMF warned that Pakistan’s economy continues to suffer from “deep-rooted distortions,” driven by chronic corruption, governance failures, and persistent losses across key sectors.
- A key reform mandate requires the government to publicly disclose asset declarations of senior federal civil servants by December 2026 on an official website.
Similar / Past Coverage
- The Punjab Assembly approved a resolution moved by PML-N lawmaker Tahir Pervaiz urging the federal government to impose a ban on the PTI founder and his political party.
- The resolution accuses the PTI leader of making statements against the state, spreading unrest, and acting as facilitators of hostile foreign interests.
- It calls for action under national laws against anyone involved in such activities and demands exemplary punishment for those responsible.
- The EU offers zero import duties on two-thirds of exports from GSP+ beneficiary countries in return for progress on sustainable development and good governance.
- GSP+ eligibility requires full implementation of 27 international conventions covering human rights, labour standards, environmental protection and good governance.
- Pakistan's GSP+ compliance grants duty-free or low-duty access for key exports including apparel, home textiles and surgical instruments.
- Export earnings to the EU reached $3.17 billion between July and October, up from $3 billion in the same period last year.
- GSP+ countries must submit a public progress report to Brussels every two years to assess continued implementation of the 27 conventions.
- Pakistan and Egypt agreed to deepen ties in economic, commercial, cultural and defence sectors after years of stagnant relationship.
- Egyptian Foreign Minister Badr Abdelatty held discussions with Pakistani counterpart Ishaq Dar on conflicts in Gaza and Sudan, the dispute over the Iranian nuclear programme and ways to boost economic cooperation.
- Pakistan-Egypt Joint Ministerial Commission had not met since 2010.
- The two countries agreed to hold bilateral political consultations in the first quarter of 2026.
- Egypt offered to share experiences to tackle terrorism and stands in full solidarity with Pakistan in the fight against terrorism and violent extremism.
- Egypt aims to elevate bilateral relationship to the strategic level.
- World Bank (WB) approved USD 286 million for Punjab Outcomes-Acceleration in School Education Operation (POISE) to improve quality education using technology.
- POISE will support 13 lakh primary and 2.2 million secondary students plus 59 lakh early childhood education beneficiaries.
- WB sanctioned USD 490 million for Maharashtra Project on Climate Resilient Agriculture (POCRA) Phase II to raise smallholder farmer incomes by 30%.
- POCRA Phase II will benefit over 20 lakh small and marginal farmers including 2.9 lakh women across 21 Maharashtra districts.
- POISE carries 19-year final maturity with 5-year grace; POCRA Phase II has 24-year final maturity with 6-year grace.
Sagar Defence Engineering Pvt. Ltd to build world’s first autonomous maritime shipyard in Andhra Pradesh
[Andhra Pradesh, Sagar Defence Engineering Pvt. Ltd]
Key Updates:
- Sagar Defence Engineering Pvt. Ltd has been allotted 29.58 acres of land at the Juvvaladinne Fishing Harbour in Bogolu Mandal, SPSR Nellore district, Andhra Pradesh, for setting up the world’s first autonomous maritime shipyard and systems centre.
- The facility is envisioned as a pioneering hub that will accelerate innovation, reshape industrial practices, and set new international benchmarks in autonomous maritime technology.
- The integrated R&D and testing ecosystem is poised to benefit sectors such as logistics, fisheries, disaster response, and port operations.
- A dedicated Maritime Test Centre within the project will support end-to-end autonomous system research, development, prototyping, and validation.
Similar / Past Coverage
- Swan Defence and Heavy Industries Limited (SDHI) signed a Memorandum of Understanding (MoU) with the Gujarat Maritime Board (GMB) to advance the country’s shipbuilding sector.
- Under the agreement, SDHI will invest ₹4,250 crore across three projects at its Pipavav Port shipyard in Gujarat.
- Of the total investment, ₹3,500 crore will be used to expand shipyard capacity, including slipways, jetties, additional cranes, block fabrication, and dredging.
- A ₹200 crore Centre of Excellence (CoE) for Maritime will be established to train over 1,000 youth annually.
- SDHI will also develop a 200-acre Maritime Cluster at the shipyard with an investment of ₹550 crore.
- SDHI has also inked another MoU with Sagarmala Finance Corporation Limited (SMFCL) to explore shipbuilding projects, ship repairs and ancillary maritime infrastructure for support under Maritime focused Equity Fund.
- The partnership with SMFCL will include feasibility studies, implementation of sustainable shipbuilding technologies, localisation of supply chains, and vendor development, and establish a financing framework covering capital structure, equity, debt, and credit enhancements.
- The strategic collaborations align with India’s Maritime Amrit Kaal Vision 2047 and Maritime India Vision 2030, supporting the government’s objectives under PM Gati Shakti.
- Indian Institute of Technology, Madras researchers have developed and deployed India's first indigenous vessel traffic management system for ports.
- The system has been developed by the National Technology Centre for Ports, Waterways and Coasts (NTCPWC) at IIT Madras based on the requirements outlined by the Ministry of Ports, Shipping and Waterways.
- The system has already been implemented in Vizhinjam International Seaport Limited (VISL), Kerala.
- The indigenous system eliminates the risk of a leak of strategic data on the movement of vessels.
- The system is scalable to accommodate deployment in more ports with enhanced capabilities and is completely secure, with minimal deployment and maintenance costs.
- Total outlay: Rs 34,200 crore — over Rs 26,000 crore for Gujarat projects and over Rs 7,800 crore for pan-India maritime initiatives.
- Maritime initiatives include Mumbai International Cruise Terminal at Indira Dock, new container terminal at Syama Prasad Mookerjee Port Kolkata, multi-cargo facility at Tuna Tekra, coastal protection works at Chennai & Car Nicobar, and ship-repair hubs at Patna & Varanasi.
- Gujarat projects inaugurated/founded: HPLNG Regasification Terminal at Chhara Port, 600 MW renewable-energy project, complete solarisation of Dhordo village, hospital expansions in Bhavnagar & Jamnagar, new highway works, additional LNG infrastructure and urban-transport projects.
- India will host three major international maritime events in Visakhapatnam from 15 to 25 February 2026: International Fleet Review (IFR) 2026, Exercise MILAN 2026, and Indian Ocean Naval Symposium (IONS) Conclave of Chiefs.
- The events realize Prime Minister Narendra Modi's MAHASAGAR vision (Mutual and Holistic Advancement for Security and Growth Across Regions), extending India's SAGAR philosophy.
- Invitations have been extended to navies from across the globe to participate in the historic gathering at Visakhapatnam, India's eastern maritime gateway and home to the Eastern Naval Command.
- The Presidential Fleet Review at Sea will showcase indigenous platforms including INS Vikrant (India's first domestically built aircraft carrier), Visakhapatnam-class destroyers, Nilgiri-class stealth frigates, and Arnala-class anti-submarine warfare corvettes.
- Exercise MILAN's Sea and Harbour Phases will focus on interoperability, maritime domain awareness, anti-submarine warfare, air defence, and search-and-rescue operations.
- The Indian Navy will assume the Chairmanship of IONS for the second time during 2025-2027, bringing together naval chiefs from 25 member nations, nine observers, and specially invited nations.