Bank Current Affairs 2019 | Page 56 of 57 | Gkseries.com

Reserve Bank of India imposed fine on State Bank of India and Union Bank of India

The Reserve Bank of India (RBI) has penalised State Bank of India and Union Bank of India for violating certain regulatory guidelines. The penalty has been imposed on the bank for non-compliance of income recognition and asset classification (IRAC) norms, code of conduct for opening and operating current accounts and reporting of data on Central […]

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Yes Bank Drops Over 6% After Picking Up 9.47% Stake in Eveready

Yes Bank Ltd shares dropped over 6% in early trade after the lender informed the exchanges that it has acquired 9.47% stake in Eveready Industries by invoking pledged shares. Yes Bank stock fell as much as 6.2% to Rs 90.20 in intraday trade. Meanwhile, Eveready Industries shares jumped over 3% in early trade. Yes Bank

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AK Misra appointed as Additional Director Jammu and Kashmir Bank BOD

Reserve Bank of India (RBI) on Thursday appointed ex-executive director RBI A.K Misra as Additional Director on the Board of Directors (BOD) of the Jammu and Kashmir Bank Limited. His appointment shall be for a period of two years with effect from July 3, 2019 to July 2, 2021 or till further orders. “He shall

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Karnataka Bank launches web tool for NPA recovery process

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 the recovery of stressed assets will provide an end-to-end

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Airtel Payments Bank and Bharti AXA Life Insurance announce first of its kind alliance to offer ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’

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 financial inclusion in the country. The product ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’ (PMJJBY)

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ICICI Bank has tied up with IndoStar Capital Finance Ltd (IndoStar) to finance purchase of used and new commercial vehicles (CV) by small and medium fleet owners

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 country between a commercial bank and an NBFC to finance commercial vehicles.

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Karnam Sekar is new head of IOB

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 April, the city-headquartered bank said in

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SBI inks MoU with NIIF to boost capital availability

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 support and take-out finance for operating assets, according to the joint statement issued by

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ADB to provide USD 350mn loan for Chhattisgarh road improvement project

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 opportunities. The total cost of the project is

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Sarada Kumar Hota appointed as National Housing Bank MD

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 former MD Sriram Kalyanaraman stepped

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