Bank Current Affairs 2019 | Page 44 of 57 | Gkseries.com

ICICI Lombard ties up with Airtel Payments Bank for smartphone insurance

This insurance facility is available on the Airtel Thanks app. This provides financial protection against damage to the phone and its screen from accidents or liquid spills. Monthly premium for this facility starts at 1,299 rupees. Customers can get an insurance sum that is equivalent to the purchase price of their smartphone. Airtel Payment Bank MD & CEO – Anubrata Biswas ICICI Lombard CEO […]

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Kotak Mahindra Bank, Axis Bank has acquired 7.84% stake in ONDC

Kotak Mahindra Bank and Axis Bank each has acquired 7.84% stake in Open Network Digital Commerce (ONDC) for ₹ 10 crore. ONDC was incorporated on December 30, 2021, in India. ONDC is an open public digital infrastructure. This network develops and transform the Indian digital commerce ecosystem for both goods and services. It is an initiative of the Department for Promotion

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Govt sets Rs 1-trillion infrastructure lending target for DFI for 2022-23

The Centre has set a target of about Rs 1 trillion for government-backed National Bank for Financial Infrastructure and Development (NaBFID) for sanctioning loans to the infrastructure sector in the next financial year i.e 2022-23. NaBFID is a government-backed Development Finance Institution (DFI) and will start operations in the first quarter of 2022-23. KV Kamath is the

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HDFC Bank to launch “SmartHub Vyapar programme” and “Autofirst” application for small business loans

HDFC Bank has announced to launch the following two initiatives/applications to give a digital push to small business loans. ‘AutoFirst’ application: that will offer fully automated auto loans. SmartHub Vyapar programme– It is an app that bundles all payment platforms – cards, UPI, QR code, tap pay and SMS-based payments. The programme for merchants will be launched

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SBI to set up Innovation, Incubation and Acceleration Centre in Hyderabad, Telangana

State Bank of India (SBI) plans to set up an Innovation, Incubation and Acceleration Centre (IIAC) at Hyderabad in a bid to build in-house capability to bolster its current performance and drive higher top-line growth through innovation. The objective of this Innovation, Incubation and Acceleration Center is to build in-house capability to improves its current performance

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Axis Bank bags IFR Asia 2021 Asian Bank of the Year Award

Axis Bank, India’s third-largest private sector bank has been awarded IFR Asia’s Asian Bank of The Year, for its breadth of coverage and depth of expertise in the Asian investment banking space. The bank was awarded for its outstanding performance in equity and debt issuance, across all major products and segments. Top three global IFR

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RBI lifts interest cap on microfinance institutions

The RBI has released its final guidelines for microfinance loans, lifting an interest cap and allowing companies to have a board-approved policy to price for such lending. The RBI will continue checking that microfinance institutions do not charge usurious rates. Each entity has to disclose pricing-related information to borrowers in a standardized simplified factsheet. A borrower cannot be charged any amount that

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RBI barred Paytm Payments Bank from adding new customers

RBI has barred Paytm Payments Bank from opening new accounts or adding new subscribers with immediate effect. RBI has also directed Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive audit of its IT system. This action is based on certain material supervisory concerns observed in the bank. Paytm Payments Bank was incorporated in

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NaBFID to be regulated as AIFI under RBI Act

The Reserve Bank said NaBFID will be regulated and supervised as an All India Financial Institution by it under the RBI Act, 1934. It will now be guided under Sections 45L and 45N of the Reserve Bank of India Act, 1934. Currently, RBI has four AIFIs: EXIM Bank, NABARD, NHB, and SIDBI. NaBFID: Development Financial Institution (DFI) to support the development of

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HDFC Mutual Fund launches Missed Call Advisory Service #LaxmiForLaxmi for Women Investors

HDFC Mutual Fund has launched #LaxmiForLaxmi on the occasion of International Women’s Day 2022. #LaxmiForLaxmi is an end-to-end women-led missed call advisory service #LaxmiForLaxmi. #LaxmiForLaxmi is a financial empowerment campaign for women under which women investors will be connected to a woman financial expert near them through a missed call service. The woman financial expert will then

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