Karnataka Bank Ltd has launched the web tool – ‘Vasool So-Ft’ (Vasool So-Fast) – for digitalising the NPA (non-performing asset) recovery process of the bank. Launching the tool in Mangaluru, Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said the digital tool for ...

Bharti AXA Life Insurance and Airtel Payments Bank announced a first-of-its-kind alliance to offer the ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’ (PMJJBY), a government-backed life insurance scheme aimed at increasing the penetration of life insurance among underinsured masses and contributing to ...

ICICI Bank announced that it has partnered with IndoStar Capital Finance Limited (IndoStar), a systemically important Non-Banking Finance Company (NBFC), to finance small and medium fleet owners to purchase used and new commercial vehicles (CV). This is a first-of-its-kind lending programme in the ...

Public sector Indian Overseas Bank on July 1 said it has elevated Karnam Sekar as the new Managing Director and Chief Executive Officer with immediate effect, replacing R Subramaniakumar. Prior taking up the new role, Sekas was appointed as an officer on Special Duty and Whole Time Director in ...

State Bank of India (SBI) and National Investment and Infrastructure Fund (NIIF) inked a memorandum of understanding (MoU) to boost the availability of capital for infrastructure projects. The scope of the MoU includes equity investments, project funding, bond financing, renewable energy ...

The Asian Development Bank (ADB) has approved USD 350 million loan for road project in the state of Chhattisgarh. The loan has been sanctioned to rehabilitate and upgrade state highways and major district roads in the state, which will improve connectivity and access basic services and livelihood ...

Sarada Kumar Hota, managing director (MD) and chief executive officer of Can Fin Homes has been appointed as the MD of National Housing Bank. Prior to this, Hota has served as the managing director of Can Fin Homes, a subsidiary of Canara Bank. His appointment comes nearly nine months after ...

Oracle is broadening availability of its Oracle Financial Services Anti-Money Laundering solution for smaller banks, the company said. Oracle Financial Solutions announced the launch of its AML Express Edition for small and medium-sized financial institutions, connecting these banks with a ...

Cash deposits in Canara Bank accounts of up to Rs. 50,000 are free for 3 transactions in a month, and then there will be a service charge of ₹1 per thousand, with a minimum of ₹50 and a maximum of ₹5,000-plus GST. This will be effective from July 1. The bank, however, gives five free cash ...

Private sector lender IndusInd Bank and Bharat Financial Inclusion Ltd (BFIL) announced their merger which will be effective from July 4. The National Company Law Tribunal on June 10, 2019 approved the Scheme of Arrangement among BFIL, IndusInd Bank and Induslnd Financial ...