Bank Current Affairs 2019 | Page 40 of 57 | Gkseries.com

RBI issues norms for gold import by qualified jewellers through IIBX

The Reserve Bank of India (RBI) has issued norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. As per the guidelines, banks may allow Qualified Jewellers to remit advance payments for 11 days for import of gold through IIBX in compliance to the extant Foreign Trade Policy and regulations […]

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SBI introduces Xpress Credit on YONO

The State Bank of India (SBI) has announced the launch of Real Time Xpress Credit on its Yono platform which allows eligible customers to get personal loans of up to ₹35 lakh. It is a flagship personal loan product for salaried customers (Xpress Credit), now has a digital avatar and customers can now avail of it through Yono. It would

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HDFC Bank joins Retailio to launch co-branded credit cards

HDFC Bank has joined hands with Retailio to launch of a new range of co-branded credit cards primarily targeted at chemists and pharmacies in the merchant segment. Retailio is the country’s largest B2B pharma marketplace. The co-branded credit card offers cashbacks on tax payments, reward points, and 5% Cashback on all Business essentials. The card also offers no-cost and low

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RBI formed panel to review customer service standards in banks, NBFCs

The Reserve Bank of India has set up a committee to review the efficacy, adequacy and quality of customer service in banks, NBFCs, and other entities regulated by it. The six-member committee headed by former RBI deputy governor B P Kanungo. He will submit a report within three months from the date of its first meeting. It will also review the evolving needs of the

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New Development bank to set up regional office in India

The New Development Bank (NDB) will open its first regional office in India at the Gujarat International Finance Tec-City (GIFT City) to cater to infrastructure and sustainable development needs of the country. The Indian Regional Office (IRO) will be instrumental in enhancing NDB’s engagement with borrowers and stakeholders. IRO expands our on-the-ground presence, contributing to preparing and implementing projects.

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RBL Bank ties up with Amazon Pay to offer UPI payment services

RBL Bank has tied up with Amazon Web Services to offer UPI payments. The bank has partnered with Amazon Pay to offer peer-to-peer and peer-to-merchant transactions. With this integration, Amazon Pay will issue NPCI’s allocated UPI ID with the handle @rapl to RBL Bank. The partnership will allow the bank to tap Amazon Pay’s growing customer base and transaction volumes.

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NEFT, RTGS facility available for post office savings account holder

According to a Department of Post circular, the NEFT facility has been made available for Post Office Savings Accounts holders from May 18, 2022, and RTGS facility will be available from May 31, 2022. This facility enables POSB customers to transfer funds to and from other bank accounts to POSB Accounts in DoP-CBS (DoP-CBS stands for Department of Posts – Core Banking Solutions).

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Assam Rifles, Axis Bank and NIEDO ink MoU to establish Centre of Excellence

Assam Rifles inked a Tripartite MoU with Axis Bank and National Integrity and Educational Development Organisation (NIEDO) to establish a Centre of Excellence and Wellness to secure a better future for the youth of Nagaland. The centre named after Late Capt N Kenguruse MVC Centre of Excellence and Wellness will be located at Chieswema in Kohima district. Free residential coaching will be provided to 30 children from

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PSBs frauds decline by 51% to Rs 40,295 crore

According to the Reserve Bank of India (RBI), the Public sector banks have reported over a 51% dip in the amount involved in frauds to Rs 40,295.25 crore during the financial year ended March 2022. The 12 PSBs had reported frauds worth Rs 81,921.54 crore in the preceding fiscal 2020-21. But, the number of fraud cases has fallen slightly as

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RBI imposed Rs 59 lakh penalty on KEB Hana Bank

The Reserve Bank of India (RBI) has levied a monetary penalty of 59 lakh rupees (Rupees Fifty Nine Lakh only) on KEB Hana Bank (the bank) for non-compliance with RBI’s “Reserve Bank of India (Interest Rate on Deposits) Directions, 2016” by a decision dated May 12, 2022. This penalty was issued in the execution of

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