Banking

  • SBI Plans to Issue Infrastructure Bonds of Rs 10,000 Crore in 2022-23

    State Bank of India plans to raise Rs 10,000 crore worth of infrastructure bonds during the current financial year. SBI confirmed the meeting of the Executive Committee of the Central Board of State Bank of India to seek approval for...

    Published On December 1st, 2022
  • YES Bank Acquired 9.9 per cent stake in JC Flower ARC

    Yes Bank has signed a Share Purchase Agreement (SPA) with JC Flowers Asset Reconstruction Company (ARC), acquiring a 9.9 percent stake in the ARC at Rs 11.43 per share on 28th November 2022. A subsequent acquisition of the additional shareholding...

    Published On December 1st, 2022
  • Tamilnad Mercantile Bank Signs Bancassurance Pacts with Chola MS General and Max Life Insurance Company

    Old private sector lender Tamilnad Mercantile Bank has entered into bancassurance partnerships with Cholamandalam MS General Insurance Company Ltd, part of the Chennai-based Murugappa Group, and Max Life Insurance Company to provide general insurance products and life insurance schemes respectively...

    Published On November 30th, 2022
  • RBI to Launch a Pilot Project on Retail Digital Rupee on 1 December 2022

    The Reserve Bank of India (RBI) announced a trial for retail digital rupee (e ₹-R) beginning 1 December, with four banks in as many cities participating in the pilot programme, a month after testing the wholesale central bank digital currency...

    Published On November 30th, 2022
  • RBI Imposes Rs 1.25 Crore Penalty on Zoroastrian Co-operative Bank

    The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.25 crore on Zoroastrian Co-operative Bank, Bombay, for non-compliance with RBI directions on 'Discounting of Bills by UCBs - Restricted Letters of Credit' and the provisions of...

    Published On November 29th, 2022
  • RBI Asks Paytm To Re-apply For Payment Aggregator Licence

    Reserve Bank of India (RBI) has for now declined to entertain Paytm Payments Services’ (PPSL), a wholly owned subsidiary of Paytm, application for an authorisation to provide payment aggregator services for online merchants. The central bank has advised PPSL to...

    Published On November 29th, 2022
  • Small is good: Mudra loan NPAs at just 3.3% in 7 years

    Over seven years since launch, borrowers of Mudra loans – essentially micro and small enterprises – have paid their EMIs (equated monthly instalments) to banks. Non-performing assets of banks for Mudra loans – including those extended during the Covid-19 pandemic...

    Published On November 28th, 2022
  • Bank of Baroda Opened its First Dedicated Mid-Corporate Branch

    Bank of Baroda opened its first mid-corporate Branch in Kerala at Kochi. The branch was inaugurated by Debadatta Chand, Executive Director in the presence of S. Rengarajan, GM (Head - Mid Corporate Cluster South), and Sreejith Kottarathil, Zonal Head-Ernakulam. Buy...

    Published On November 25th, 2022
  • SBI Continues to Lead Debit Card Market, HDFC Leads Credit Cards for October 2022

    Country's largest lender, State Bank of India continues to dominate the debit cards market in October 2022, with a 29% share. Compared to last month the share was slightly less, where SBI led the debit card market by 30 per...

    Published On November 24th, 2022
  • HDFC Bank, Flywire Collaborate to Offer Edu digital Payments

    Payments software company Flywire has teamed up with India's Largest private sector giant  HDFC Bank to help students in India pay education fees at institutions around the world. Buy Prime Test Series for all Banking, SSC, Insurance & other exams More About...

    Published On November 24th, 2022