Focus Merit

Category: Banking

HDFC Bank to provide ‘ZipDrive’, an Online Instant Auto Loans to its Customers

July 5, 2020
HDFC Bank
  • HDFC Bank declared it will provide ZipDrive instant auto loans to customers in 1,000 cities all over India. ZipDrive is HDFC Bank’s instant auto loan disbursal product for clients with the pre-approved offers. The product will now be present in tier 2 and 3 cities all over India.

ADB becomes the observer of Network for Greening the Financial System

July 5, 2020
Asian Development Bank (ADB)
  • The Asian Development Bank (ADB) has paired-up with the central banks and supervisors Network for Greening the Financial System (NGFS) as an observer particularly for fighting climate change, making climate and disaster resilience, and improving environmental sustainability.

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

July 3, 2020
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

July 2, 2020
HDFC Bank
  • 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

July 1, 2020
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

July 1, 2020
Swiggy
  • 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

July 1, 2020
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

June 30, 2020
Phonepe
  • 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

June 28, 2020
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

June 28, 2020
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.