Category: Banking


World Bank intensifies aid for rejuvenating Ganga, sanctions USD 400 mn

World Bank
  • The World Bank on 1st July said it has intensified its assistance for the Government of India’s program to rejuvenate the Ganga river with a USD 400 million (about Rs 3,000 crore) assistance that will support stem pollution in the river.

HDFC Bank starts ‘e-Kisaan Dhan’ App for Farmers

  • HDFC Bank starts ‘e-Kisaan Dhan’ app for farmers. HDFC Bank on 1st July declared the release of ‘e-Kisaan Dhan’ app for farmers all over India. Through this app, the farmers will be able to access a bouquet of services, both banking and agriculture, by their mobile phones.

Govt extends Union Bank of India CEO Rajkiran Rai’s term by another two years

Rajkiran Rai
  • The government has continued Union Bank of India(UBI) CEO Rajkiran Rai’s term by added two years until his retirement on May 31, 2022.
  • Rai had started as the CEO of the Mumbai-based lender on July 1, 2017.

Swiggy starts digital wallet ‘Swiggy Money’ in partnership with ICICI Bank

  • Bengaluru-based food tech unicorn Swiggy on 30th June declared the release of its own digital wallet ‘Swiggy Money’ to facilitate a ‘single-click checkout experience’ on its platform.
  • The digital wallet in partnership with ICICI Bank will allow Swiggy users to store money and be used for all food orders on Swiggy.

World Bank to provide USD 750 mn to help 15 cr viable MSMEs

World Bank
  • The World Bank on 1st June declared it will provide a USD 750 million budget assistance to 15 crores micro, small and medium enterprises (MSMEs) to enhance liquidity access for viable small businesses impacted by COVID-19.

PhonePe pairs-up with ICICI Bank on UPI multi-bank model

  • Flipkart-owned PhonePe it has tied-up with ICICI Bank on UPI multi-bank model, providing its customers the option to make and utilize multiple UPI IDs with ICICI and Yes Bank”s handles.

India slides down at 77th place in estimating money in Swiss banks

Swiss National Bank
  • India has rolled down three spots to 77th rank in terms of money deposited by its citizens and enterprises with Swiss banks at the end of 2019, while the UK has maintained its top position, as per the recent data from Switzerland’s central bank. India was placed 74th in the previous year.

Indians’ money in Swiss Banks down 6% at Rs 6,625 Crore in 2019

Swiss National Bank
  • Funds deposited by Indian individuals and enterprises in Swiss banks, including through India-based branches, sank nearly 6 percent in 2019 to 899 million Swiss francs (Rs 6,625 crore), annual data from Swiss National Bank revealed on 25th June.

Yes Bank pairs-up with UDMA to release ‘Yuva Pay’ mobile app

Yes Bank
  • Private lender Yes Bank has tied hands with UDMA technologies to release digital wallet solution ‘Yuva Pay’. This new product from the lender will support the customers with contactless payments. The digital wallet is published under minimum KYC regulations to Yes Bank.

Karnataka Bank originates KBL Micro Mitra for micro-enterprises

Karnataka Bank
  • Karnataka Bank has started a new item KBL Micro Mitra, wherein financial support up to Rs.10 lakhs can be given to the Micromanufacturing and service enterprises either for functioning capital or for investment purposes.