Latest Banking jobs   »   All Banking News of May Month:...

All Banking News of May Month: Banking Awareness Special Series

Team Adda247 and Bankers Adda have introduced a Special Banking Awareness series for SBI and IBPS Interviews 2021. In this series, we will introduce the candidates to some banking awareness topics Daily that will improve their general awareness and ensure that the candidates do not lack in any banking term when it comes to the interview round. Today the topic of our Banking Awareness Series is All Banking News of May Month.

All Banking News of May month

RBI penalized ICICI bank of Rs.3 crore

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹3 crores on ICICI Bank for non-compliance with its directions in the matter of shifting of securities from one category to another. The monetary penalty has been imposed on the Bank for contravention of certain directions contained in its Master Circular on ‘Prudential Norms for Classification, Valuation, and Operation of Investment Portfolio by Banks.

Central Bank of India launched Immune India Deposit Scheme

Central Bank of India has launched the “Immune India Deposit Scheme” a special deposit scheme to provide an additional interest rate of 25 basis points in addition to the applicable card rate for the vaccinated people.

eNAM selects Kotak Mahindra Bank for its digital payment partner

Kotak Mahindra Bank (KMBL) announced it has been selected as a digital payments partner by the National Agriculture Market (eNAM), a pan-India electronic trading portal for farm produce. It will enable and facilitate online transactions for all stakeholders on the eNAM platform, including farmers, traders and farmer producer organizations (FPOs).

RBI excluded Lakhmi Vilas Bank from its second schedule

The Reserve Bank of India (RBI) has excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) last year.

HDFC Bank launched chatbot ‘Eva’ on CSCs digital Seva portal

HDFC Bank and Common Services Centres (CSCs) launched chatbot ‘Eva’ on CSCs Digital Seva Portal to support the Village Level Entrepreneurs (VLEs) in providing banking services for the last mile rural consumers.

RBI granted Enroute Technologies for operating as a PPI company

The Reserve Bank of India (RBI) has granted authorization to Enroute Technologies to operate as a prepaid payment instruments (PPI) company. The RBI issued authorization to Eroute Technologies Pvt Ltd with perpetual validity to commence issuance and operations of semi-closed pre-paid instruments in the country.

Jana Small Finance Bank announced ‘I choose my number’ feature

Jana Small Finance Bank has announced the launch of the “I choose my number” feature for all its customers across India.

ICICI Bank launched linkage of UPI ID to its digital wallet ‘Pockets’

ICICI Bank has announced the launch of a unique facility of linking a UPI (Unified Payments Interface) ID to its digital wallet ’Pockets’, marking a departure from the current practice that demands such IDs be linked with a savings bank account.

RBI announced a package of Rs.50, 000 crore for healthcare in India

The Reserve Bank of India (RBI) Governor Shaktikanta Das has announced a Covid-19 healthcare package of Rs 50,000 crore, for lending to entities such as vaccine makers, medical equipment suppliers, hospitals, and related sectors, the patients in need of funds for treatment.

Federal Bank entered into a strategic tie-up with Mashreq Bank

Federal Bank has entered into a strategic tie-up with Mashreq Bank of UAE, to facilitate money transfers from the UAE to India. The partnership will support Mashreq’s payment product “QuickRemit”, which was launched in 2017.

RBI imposed monetary penalty on 4 lenders

The RBI has imposed a monetary penalty on City Union Bank, Tamilnad Mercantile Bank, and two other lenders for contravention of certain directions issued by the central bank. A penalty of Rs 1 crore has been imposed on City Union Bank Limited for contravention of/non-compliance with certain provisions contained in the RBI (Lending to MSME Sector) Directions and Rs 1 crore on Tamilnad Mercantile Bank for non-compliance.

Geojit Financial Services signed an agreement with PNB for a 3-in-1 account

Geojit Financial Services has entered into an agreement with Punjab National Bank to provide the advantage of a three-in-one account to the customers of the bank. Note: The Three Accounts are, Savings Account, a Demat Account, and a Trading Account. 

RBI transferred Rs.99, 122 crore surplus to the Government of India

The Reserve Bank of India will transfer Rs 99,122 crore surplus to the Central Government for the accounting period of nine months ended March 31, 2021 (July 2020-March 2021). The Contingency Risk Buffer will remain at 5.50%.

Equitas Small Finance Bank becomes 1st SFB in online account opening of NRI

Equitas Small Finance Bank has now become the first Small Finance Bank to offer its NRI customer segment the ease of account opening online. The online process of account opening for NRIs can be done via smartphone or computer connected to the Internet.

Airtel Payments Bank launched DigiGold

Airtel Payments Bank has launched “DigiGold”, a digital platform for customers to make investments in gold. This has been rolled out in partnership with SafeGold, a provider of digital gold.

BOB launched Micro-website for all employees

Bank of Baroda has recently launched a Micro-website that will serve as an emergency networking platform for all employees amid the second wave of COVID-19. Indian Public sector bank, Bank of Baroda recently launched a Micro-website that will serve as an emergency networking platform for all employees amid the second wave of COVID-19.

IDBI launched a fully digitized Loan Processing System for its MSMEs and Agri products

IDBI Bank has announced to launch its fully digitized, end-to-end, Loan Processing System (LPS) for its Micro, Small & Medium Enterprises (MSME) and Agri products.

Canara Bank launched 3 categories of loan schemes

Canara Bank has launched 3 categories of loan schemes to offer healthcare credit, business, and personal loans to individuals. These three schemes are the Canara Chikitsa healthcare credit facility, Canara Jeevanrekha healthcare business loan, and Canara Suraksha personal loan scheme.

SBI partnered with HyperVerge for video KYC solutions

State Bank of India has partnered with HyperVerge to obtain its technology called ‘Video KYC solution’ for onboarding customers online under COVID-19. 

RBI imposed a penalty of Rs.10 crore on HDFC Bank

The Reserve Bank of India has imposed a fine of Rs 10 crore on HDFC Bank for deficiencies in regulatory compliance found in the auto loan portfolio of the bank. As per the RBI, HDFC Bank has violated the provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949.

Leave a comment

Your email address will not be published. Required fields are marked *