Here we provide Current Affairs articles on Bank & Indian Banking system. We collect and compose latest articles related to bank and finance system.
Private sector lender Tamilnad Mercantile Bank has received capital markets regulator Sebi’s go ahead to mop-up funds through an initial share sale. The Initial Public Offer (IPO) comprises a fresh issue of 1,58,27,495 equity shares and an Offer For Sale (OFS) of up to 12,505 equity shares by shareholders, according to the Draft Red Herring […]
Tamilnad Mercantile Bank gets SEBI’s nod to float IPO Read More »
OmniCard became the 1st RBI licensed PPI to launch cash withdrawal using a RuPay-powered card from any ATMs across the country. The move came in after RBI permitted the non-bank licensed entities to enable cash withdrawals from the digital wallets. OmniCard users can withdraw cash from any ATM at their convenience with full security from frauds like card theft,
OmniCard becomes 1st RBI licensed PPI to launch cash withdrawal in all ATM Read More »
Suryoday Small Finance Bank, one of India’s premier small finance banks, has established a cooperation with Mobisafar to provide banking services across India through all of Mobisafar’s franchises and Business Correspondent network. The cooperation aims to increase financial inclusion by providing vital banking services to underbanked customers digitally, even in the most distant corners of the country. Mobisafar‘s 1.38
Suryoday SFB and Mobisafar Services partnered to provide banking services across India Read More »
Airtel Payments Bank has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app. There will be no-processing charge on the loan. Muthoot Finance will provide up to 75% of the pledged gold value as a loan. The loan facility will be available at the 5 lakh banking points for Airtel Payments Bank. Gold Loans are secured loans that can be availed to
Airtel Payments Bank offer gold loans in partnership with Muthoot Finance Read More »
The Reserve Bank of India (RBI) has released the provisioning guidelines for outstanding loans extended by ‘NBFC-Upper Layer’. These guidelines shall be effective from October 1, 2022. Individual housing loans and loans to Small and Micro Enterprises (SMEs): 0.25%. Housing loans extended at teaser rates: 2% (decrease to 0.4% after 1 year from the date on which the rates are raised.)
RBI releases provisioning norms for upper-layer NBFCs Read More »
The National Assets Reconstruction Company Ltd (NARCL) on Tuesday said it on-boarded former State Bank of India (SBI) official Natarajan Sundar as its managing director and chief executive on 30 May. Sundar is a banking veteran having served SBI for over 37 years and retired as Dy MD and Chief Credit Officer of the bank.
Former SBI officer Natarajan Sundar joins NARCL as MD & CEO Read More »
Public sector banks (PSBs) more than quadrupled their net profit in the fiscal year 2021-2022. During the financial year 2021-22, the aggregate profit of 12 state-owned banks was Rs 66,539 crore, up 110 percent from Rs 31,816 crore in the previous year. For the first time in years, all 12 state-owned banks made a profit. This was also a significant
Public Sector Banks doubled their Net Profit to almost Rs 66,500 crore in FY22 Read More »
SBI’s research report Ecowrap, in its latest edition has projected India’s Gross Domestic Product (GDP) growth at 8.2 to 8.5 per cent for FY22. For Q4FY22, the SBI research report expects growth of 2.7 per cent. Early trend of Q4FY22 results for corporates, in the listed space, Sectors like IT-software, auto ancillary, steel, FMCG, chemicals,
India’s GDP growth likely to be 8.2-8.5 per cent in FY22: SBI report Read More »
MUFG Bank becomes the first Japanese bank to open a branch at Gujarat International Financial Tech City (GIFT City) in a bid to offer a wide range of banking services to both domestic and global clients. MUFG Bank has already taken all necessary approvals from the International Financial Services Centre Authority (India) and the Financial Services Agency (Japan) to set up a
Japan’s MUFG Bank gets approval set up branch at GIFT City Read More »
Bank of Baroda Financial and Hindustan Petroleum (HPCL) in partnership with National Payments Corporation of India (NPCI), have launched HPCL BoB co-branded contactless RuPay Credit Card. The card includes various features such as rewards for spending on utilities, grocery and departmental stores. This card can be used across merchants and ATMs globally through the JCB network. BOB Financial is
BOB Financial launched co-branded contactless RuPay Credit Card with HPCL Read More »
