This article talks about the various programs launched by various banks in past 6 months.
State Bank of India
Chairman: Dinesh Khara
Founding date:1 July 1955
- The largest lender in the nation, State Bank of India (SBI) has introduced a unique term deposit programme called “Utsav Deposit Scheme“.
- State Bank of India, is celebrating its 67th year on 1st July.
- State Bank of India(SBI) acquired a minority stake (less than 50 percent) in JSW Cement Limited for an investment of INR 100 crore through Compulsory Convertible Preference Shares (CCPS).
MD and Chairman: Shanti Lal Jain
Founding date: 15 August 1907
Tagline: Your Own Bank, Banking That’s Twice As Good
- Indian Bank received a Rs. 32 lakh fine from the RBI. In accordance with paragraph 3.2.6 of Reserve Bank of India (Frauds, classification and reporting), the Reserve Bank of India fined the Indian Bank a total of Rs. 32 lakh.
- Indian Bank launched its KCC Digital Renewal scheme, enabling eligible customers to renew their Kisan Credit Card accounts via digital modes.
- Indian Bank, a public sector bank, has introduced its digital broking solution – ‘E- Broking’, as a strategic move toward comprehensive digitalization of its customer products.
- The Chennai-based bank, The Indian Bank, a public sector Bank announced the World of Advance Virtual Experience, WAVE digital transformation project.
MD and Chairman: Shyam Srinivasan
Headquarters: Aluva, Kochi, Kerala, India
Tagline: Your Perfect Banking Partner
Due to shortcomings in regulatory compliance, the Reserve Bank of India (RBI) fined Federal Bank Rs 5.72 crore. The Reserve Bank of India (RBI) (financial services provided by banks) Directions, 2016 has strict penalties for violations. Federal Bank did not make sure that the insurance company did not compensate any of its employees providing corporate agency or insurance broking services with incentives (cash or non-monetary).
South Indian Bank
Chairman : Salim Gangadharan
Headquarters: Thrissur, Kerela
Founding date: 1929
Tagline: Experience Next Generation Banking
- The South Indian Bank has signed an agreement with Kerala’s Forest and Wildlife Department to enable digital collection of payments at eco-tourism centres, Vanasree shops, mobile Vanasree units and etc
- South Indian Bank has launched a new portal called ‘SIB TF Online’ for its corporate EXIM customers.
Union Bank of India
MD and Chairman : Rajkiran Rai G.
Founding date: 11 November 1919
Tagline: Good People to Bank with
- The Union Bank of India (UBI) has launched an online platform, ‘Trade nxt’, which enables corporate, and MSMEs.
- Ambit Finvest announced the signing of a co-lending agreement with Union Bank of India for financing to Micro, Small, and Medium Enterprise (MSME) customers
Central Bank of India
MD and CEO: M V Rao
Founding date: 21 December 1911
Tagline: Central to You
Central Bank of India partnered with Kwik.ID to implement digital Know Your Customer (KYC), video KYC and eKYC for its network across India.
Bank of India
MD and CEO: Atanu Kumar Das
Founding date: 7 September 1906
Tagline: Relationship Beyond Banking
- Bank of India (BoI) announced a Rs 109 crore investment in National Asset Reconstruction Company Ltd. (NARCL).
- State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), Union Bank of India (UBI), Canara Bank, and Bank of Maharashtra (BoM) have announced their subscription to the shares of India Debt Resolution Company Ltd (IDRCL). Public Sector Banks (PSBs) and Public FIs will hold a maximum of 49% in stake IDRCL while the remaining stake will be with private-sector lenders. The NARCL has been incorporated under the Companies Act, and public sector banks will hold 51 percent of NARCL.
Bank of Baroda
Chairman: Gasmukh Bhai Andhia
Headquarters: Alkapuri, Vadodra
Founding date: 20 July 1908
Tagline: India’s International Bank
- Bank of Baroda has launched “bob World Gold”, a new feature on its bob World mobile banking platform for seniors and the elderly
- State-owned Bank of Baroda has signed cricketer Shafali Verma as its brand endorser.
Chairman: Lingam Venkat Prabhakar
Founding date: 1 July 1906
Tagline: Together we can
- Canara Bank has launched “Canara ai1“, its mobile banking app. The banking app would be a one-stop solution with more than 250 features to cater to the banking needs of its customers.
- Canara Bank has launched ‘skill loans’ in association with the Additional Skill Acquisition Programme (ASAP), Kerala, the government company under the Higher Education Department. Under this facility, the loan is ranging from Rs 5,000 to Rs 1.5 lakh. This loan can be availed of by students who are pursuing skill training programs that are offered by ASAP Kerala or any other Central or State government-recognized agencies.
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|Current Affairs April 2022|