Banking - Focus Merit

July 22, 2020

Benefits:

Customers can now enable recurring e-mandate using any UPI application for recurring payments such as mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds, and loan payments, paying for transit/metro payments among others of up to Rs. 2000. If the amount exceeds Rs. 2000, customers have to execute every mandate with UPI PIN.

July 16, 2020

HSBC- the Hongkong and Shanghai Banking Corporation Limited is to set up the IFSC Banking Unit at Gujarat International Finance Tec City, GIFT city in Gandhinagar Gujarat.
This development marks a major milestone for HSBC in India, which has been present in the country for more than 160 years.

July 15, 2020

National Bank for Agriculture and Rural Development (NABARD) has celebrated its 39^th Foundation day on 12^th July
NABARD has organized its first “digital choupal”, a video conference which brought together farmers from across the country who have been associated with NABARD in different rural projects.
NABARD has also announced Rs 5,000 crore of refinance scheme for banks and financial institutions for providing finance to the beneficiaries of its 2,150 watershed development projects and also earmarked another Rs 5,000 crore for turning Primary Agricultural Credit Societies (PACS), into multi service centres.

July 14, 2020

Visa, enters into partnership with Federal Bank to deploy Visa Secure to the bank’s cardholders.
Visa Secure will provide additional authentication layers for issuers and merchants to combat online frauds.
This partnership will enhance the focus of the bank on customer-centric digital solutions that make online shopping experiences seamless.

July 8, 2020

Equitas Small Finance Bank Limited has started a facility for opening an account through video KYC.
With this, any person anywhere in the country can initiate a savings account with Equitas Small Finance Bank; complete the full KYC through video with the Bank employee.

July 8, 2020

The Karur Vysya Bank (KVB) on 6th July declared it has entered into a pair-up with Star Health and Allied Insurance to provide health insurance products to its clients.

July 8, 2020

Fino Payments Bank Limited (FPBL) has started a savings bank account ‘Bhavishya’ for minor children aged between 10 and 18 years on 7th July 2020 to allow children banking ready from an early age and teach a savings habit among them.

July 7, 2020

SBM Bank India (promoted by Government of Mauritius) and Mastercard have tied hands to facilitate cross-border payments and transmittals services by using ‘Mastercard Send’.
Mastercard Send is a secured and innovative solution – crafted to improve domestic and cross-border payments and transmittals.

July 7, 2020

YES Bank has started a digital solution, “Loan in Seconds” for instantaneous disbursement of retail loans.
The account holders recognized by the bank can avail this swift loan disbursal convenience without any document.

July 6, 2020

‘Overdraft: Saving the Indian Saver’, the book centers on the non-performing assets (NPAs) issue that has bothered Indian banking in contemporary years, its causes, and Urjit Patel’s efforts as the RBI Governor in dealing with it.

Category: Banking