Bank Current Affairs 2019 | Page 46 of 57 | Gkseries.com

IndusInd Bank to facilitate digital transactions on e-NAM

IndusInd Bank has been empaneled by the SFAC to facilitate digital collection and settlement services on e-NAM portal. Under this arrangement, the bank will offer an array of transaction services through digital modes including multi-net banking , debit card, NEFT, RTGS, IMPS and UPI to the buyer and seller. As of January 2022, there are over 1.7 crore farmers and more than […]

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Fisdom partners with Bank of Maharashtra to offer wealth management service

Fisdom, a wealth-tech company, has joined hands with Bank of Maharashtra, to offer wealth management products and services to over 29 mn customers of the bank. This partnership is to distribute the wealth products and services through the bank’s network of more than 2,000 branches and its digital platforms, including the mobile banking app and internet banking. Wealth management

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Yes Bank launches ‘Agri Infinity’ programme to develop digital financial solutions for the food and agriculture ecosystem

YES BANK announced the launch of an annual startup enabler program, YES BANK Agri Infinity, which seeks to co-develop digital financial solutions for the food and agriculture ecosystem by mentoring entrepreneurial ventures in the field. Agri-fintech start-ups working on financial innovations across the food and agriculture value chain are eligible to apply under this programme

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Sandeep Bakhshi named Business Standard Banker of the Year 2020-21

The managing director (MD) and chief executive officer (CEO) of ICICI Bank Mr Sandeep Bakhshi has been named as the Business Standard Banker of the Year 2020-21. For 2020-21, ICICI Bank reported a net profit of Rs 16,193 crore against Rs 7,931 crore during the previous financial year. Sandeep Bakhshi assumed the charge in October 2018 and has

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CBI finds India’s biggest bank fraud of Rs 22,842 cr, books ABG Shipyard and its directors

The Central Bureau of Investigation (CBI) has registered an FIR against ABG Shipyard Ltd and its directors, including chairman and managing director Rishi Kamlesh Agarwal, in what could be the biggest bank fraud case in the history of India. ABG Shipyard, one of the most prominent private sector shipping firms, was on Saturday booked for

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Bank of Baroda to acquire Union Bank’s stake in India First Life Insurance

Bank of Baroda will acquire Union Bank of India’s 21% stake in IndiaFirst Life Insurance Company. It is a joint venture between Bank of Baroda, Union Bank of India and Carmel Point Investments. At present, the shareholding in IFIC is BoB holds 44%, Carmel Point Investments India holds 26% and UBI holds 30%. The acquisition is pursuant to a ‘Right of First Offer’ made by UBI to the

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Axis Bank set to buy Citigroup’s India retail banking business

Axis Bank Ltd. is nearing a deal to buy Citigroup Inc.’s India retail banking business in a transaction that could be valued at about $2.5 billion. An agreement for the consumer unit may be announced as soon as the next few weeks and is contingent on approval from the Reserve Bank of India. The deal would include a cash

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Yes Bank launches Agri Infinity program

Yes Bank has announced the launch of an annual startup enabler program, Yes Bank Agri Infinity. It seeks to co-develop digital financial solutions for the food and agriculture ecosystem. Those meeting the eligibility criteria will receive the guidance and support necessary to develop their solutions and apply them across the agricultural value chain. Through the initiative, a

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RBL Bank partners with Creditas Solutions for ‘Neo Collections’ platform

Private sector lender RBL Bank has announced a partnership with Creditas Solutions, a global technology company in the field of delinquency management, for its ‘Neo Collections’ platform. The Neo Collections Platform is a Do It Yourself (DIY) debt management platform that will help the customers of the bank to monitor, manage and pay their dues/loans.

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RBI reopens Voluntary Retention Route (VRR) with an investment limit of ₹2,50,000 crore

The Reserve Bank of India introduced the Voluntary Retention Route (VRR) for investments by Foreign Portfolio Investors (FPIs) on March 01, 2019. An amount of ₹1,50,000 crore was offered for investment through VRR, in three tranches so far; of which around ₹1,49,995 crore have been availed as on February 10, 2022. Now RBI has increased this investment

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