Banking

  • SEBI Introduces New Asset Class and Liberalizes MF Lite Framework

    The Securities and Exchange Board of India (SEBI) has announced the introduction of a new asset class and a liberalized Mutual Funds Lite (MF Lite) framework, aimed at enhancing the investment landscape in India. This decision was made during the...

    Last updated on October 1st, 2024 11:55 am
  • IndusInd Bank Reappoints Sumant Kathpalia as MD & CEO

    The board of IndusInd Bank has approved the reappointment of Sumant Kathpalia as Managing Director and Chief Executive Officer (MD & CEO) for another three-year term from March 24, 2025, to March 23, 2028, pending approval from the Reserve Bank...

    Last updated on September 30th, 2024 10:56 am
  • Bank of Baroda and EaseMyTrip Launch Co-Branded Travel Debit Card

    Bank of Baroda, in collaboration with EaseMyTrip.com, has introduced the Bank of Baroda EaseMyTrip Co-branded Travel Debit Card, aiming to cater to frequent travelers and those with a penchant for entertainment and lifestyle. This initiative marks the first co-branded travel...

    Last updated on September 26th, 2024 02:20 pm
  • Axis Bank and Mastercard Launch MyBiz Credit Card for Small Business Owners

    Axis Bank, a leading private sector bank in India, has partnered with Mastercard, a global payments technology firm, to launch the MyBiz credit card, specifically designed for sole proprietors and small business owners. This premium World Mastercard® offers a comprehensive...

    Last updated on September 26th, 2024 12:38 pm
  • KVS Manian Assumes Office as Federal Bank CEO

    KVS Manian has officially taken charge as the Managing Director and CEO of Federal Bank, effective September 23, 2024. He succeeds Shyam Srinivasan, who retired after successfully leading the bank since 2010. Manian joins Federal Bank following a distinguished career...

    Last updated on September 24th, 2024 11:22 am
  • YES BANK and Paisabazaar Launch Feature-rich ‘PaisaSave’ Cashback Credit Card

    Paisabazaar, India's leading online marketplace for consumer credit and free credit score platform, has partnered with YES BANK, India's sixth largest private sector bank, to unveil their co-branded credit card - YES BANK Paisabazaar PaisaSave Credit Card. Purpose It is...

    Last updated on September 21st, 2024 11:17 am
  • Banks and FIs to Invest Rs 32.5 Trillion in Renewable Energy by 2030

    At the 4th RE-Invest Summit, hosted by the Ministry of New and Renewable Energy (MNRE) and Confederation of Indian Industry (CII), leading renewable energy (RE) developers, manufacturing companies, banks, and financial institutions pledged close to $386 billion (Rs 32.45 trillion)...

    Last updated on September 18th, 2024 01:52 pm
  • LIC Appoints Infosys for NextGen Digital Platform

    The Life Insurance Corporation of India (LIC) has selected Infosys to develop its next-generation digital platform as part of its DIVE (Digital Innovation and Value Enhancement) programme. This new platform will serve as an integrated end-to-end solution, enhancing customer services,...

    Last updated on September 17th, 2024 01:10 pm
  • UPI Users can now Send 5 Lakh For Some Transactions

    The National Payments Corporation of India (NPCI) has increased the transaction limits for tax payments using UPI (Unified Payment Interface), by allowing people to send 5 lakh in a single transaction. Conditions Acquiring entities must ensure that the classification of...

    Last updated on September 14th, 2024 02:08 pm
  • Union Bank of India Becomes First Major Bank to Join PCAF

    Union Bank of India has made a significant move by becoming the first major bank to sign on to the Partnership for Carbon Accounting Financials (PCAF). This decision reflects a growing global focus on managing climate risk and aligns with...

    Last updated on September 13th, 2024 12:04 pm