Banking

National Company Law Tribunal (NCLT) approves HDFC and HDFC Bank merger

On March 17th, the National Company Law Tribunal (NCLT) approved the merger of HDFC Ltd and HDFC Bank, which is considered to be the largest merger in the history of corporate India. The merger will create a massive banking entity...

ICICI Bank offers Ecosystem Banking for Indian Startups

ICICI Bank announced that it offering a comprehensive bouquet of digital and physical solutions to cater to all banking needs of startups across their various life stages. As part of the ‘Startup Ecosystem Banking’ the Bank has put in place...

Canara Bank introduces Rupay Credit Card on UPI

To leverage the reach of UPI and the strength of credit card products, Canara Bank in collaboration with National Payments Corporation of India (NPCI) launched the Rupay Credit Card through UPI using the BHIM app. Buy Prime Test Series for...

RBI, Central Bank of UAE sign MoU to promote innovation in financial products and services

The Reserve Bank of India (RBI) on March 15 said that it has signed a Memorandum of Understanding (MoU) with the Central Bank of United Arab Emirates for promoting innovation in financial product and services. Buy Prime Test Series for...

IDFC FIRST Bank Partners with Mumbai Indians as Official Banking Partner

IDFC FIRST Bank Partners with Mumbai Indians IDFC FIRST Bank, a private sector bank in India, has become the official banking partner of the Mumbai Indians, a franchise cricket team that competes in the Indian Premier League (IPL). As the...

Suryodaya Small Finance Bank launched Blossom Women’s Savings Account

Suryoday Small Finance Bank announced the launch of 'Blossom Women’s Savings Account' with 7 percent per annum interest rate with monthly interest credit. In addition to this, specially designed RuPay Platinum Debit Card offering discount on shopping and online purchases will also...

Banks from 18 countries get RBI’s nod to trade in rupee: Centre in RS

The Reserve Bank of India (RBI) has permitted banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) to settle payments in rupees, the government said. Speaking in Rajya Sabha, Union Minister of State for Finance Bhagwat Kishanrao Karad said that 60 such approvals have...

SBI raises Rs 3717cr from its third AT1 bond sale

State Bank of India (SBI) has raised Rs 3,717 crore through its third Basel III compliant Additional Tier 1 bond issuance in the current financial year at coupon rate of 8.25 per cent. Buy Prime Test Series for all Banking,...

FDIC appoints former Fannie Mae chief Tim Mayopoulos as CEO of Silicon Valley Bank

Tim Mayopoulos, the former CEO of Fannie Mae, was appointed by the Federal Deposit Insurance Corporation (FDIC) to lead Silicon Valley Bank. He takes over after the startup-focused lender was shut down by regulators as a result of a run...

RBI accords ‘infra finance company’ status to IREDA

The Reserve Bank of India (RBI) granted an 'Infrastructure Finance Company (IFC)' status to Indian Renewable Energy Development Agency (IREDA) , a company statement said. It was earlier classified as an 'Investment and Credit Company (ICC)'. Buy Prime Test Series...