Banking and Finance News 2021

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Banking and Finance (1)
Banking and Finance (1)

Banking and Finance News, August 2021

◘  with the support of Bank of Baroda, the Andhra Pradesh government setting up a 100 aquahub across the State, under the project named  “Fish Andhra” project,

◘  Punjab National Bank has signed a MoU with National Fisheries Development Board (NFDB) to extend financial lending to the fisheries and allied sectors.

Security Board Exchange of India (SEBI)  has allowed Payments Banks to carry out the activities of investment bankers.

State Bank of India (SBI) has launched SIM Binding security feature in YONO and YONO Lite app.

Gyan Dhan education financing platform has received an NBFC license from the Reserve Bank of India

Indian Bank has signed an MoU with the incubation arm of Indian Institute of Management-Bangalore (IIM-B) for extending exclusive credits to start-ups.

Reserve Bank of India (RBI) has decided to impose a heavy monetary penalty on banks if their ATMs run out of cash from 1 October 2021.

Nearly 72% of financial transactions of Public Sector Banks (PSBs) are now done through digital channels in India.

IDFC FIRST Bank has signed an MoU with the Indian Navy to launch ‘Honour FIRST’ initiative.

SIDBI has launched ‘Digital Prayaas’ an app-based digital-lending platform.

State Bank of India, NABARD and Jammu & Kashmir Gramin Bank (JKGB) have signed an MoU for Joint Liability Groups financing

RBL Bank has chosen Amazon Web Services cloud provider to strengthen its AI powered banking solutions.

AU Small Finance Bank  launched a mega Brand Campaign ‘Badlaav Humse Hai‘.

Indian Bank signed an MoU with the Paralympic Committee of India (PCI) as one of the
banking partners of the Paralympic Games Tokyo

HDFC Bank launched the ‘Green & Sustainable Deposits’ to safeguard the environment from climate
change.

Reserve Bank of India  introduced the Financial Inclusion Index (FI-Index). The index comprises 3 parameter namely Usage  Access & Quality.

◘ Tata Motors has joined hands with Bank of Maharashtra to offer the ‘Maha Super Car Loan scheme” to all its customers

Karnataka Vikas Grameena Bank (KVGB) launched FRUITS portal.

World Bank launched a new Cybersecurity Multi-Donor Trust Fund .

Payments Infrastructure Development Fund (PIDF) scheme is a scheme of RBI.

RBI has hiked the ceiling on remittances per transaction from India to Nepal to ₹ 2 lakh.

IIM Ahmedabad has partnered with Bank of America to launch a Centre for Digital Transformation (CDT).

Kotak Mahindra bank  launched “Do It Yourself (DIY) Digital Repayment Platform” for missed loan repayments in a tie-up with Creditas Solutions.

◘ EXIM & SIDBI
• Finance Minister Nirmala Sitharaman has launched ‘Ubharte Sitaare Fund’ for export-
oriented firms and startups. The fund has been set up by EXIM & SIDBI bank

Shanti Lal Jain has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of lndian Bank

NPCI International Payments Ltd (NIPL) has partnered with Mashreq Bank to launch the Unified Payments Interface (UPI) in United Arab Emirates.

State Bank of India recently opened a floating ATM on Dal Lake in Srinagar

ICICI Bank, Germany launched a digital and instant Blocked Account for students aspiring to study in Germany.

◘ RBI has approved the re-appointment of Sandeep Bakhshi as the managing director and CEO of ICICI Bank.

◘ The Central Government has approved to increase the family pension of bank employees to 30 per cent of last salary drawn.

Assam has signed an MoU with 38 microfinance institutions and banks for the implementation of Micro Finance Incentive and Relief Scheme 2021.

Carol Furtado has been appointed as the interim CEO of the Ujjivan Small Finance Bank (SFB).

◘ The Reserve Bank of India (RBI) has approved the appointment of Hitendra Dave as CEO , HSBC India.

India’s first credit-led neobank Freo, has tied up with Equitas Small Finance Bank to launch
a zero-balance savings account.

Sanjeeb Chaudhuri has been appointed as the part-time chairman of the IDFC FIRST Bank Limited.

Karnataka Bank has launched the KBL FASTag for seamless movement of vehicles at toll plazas by facilitating automatic deduction of the toll amount.

 


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