Category: Banking

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

June 27, 2020

• 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

June 24, 2020

• 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.

Cooperative banks to be drawn under RBI supervision

June 24, 2020

• The Union Cabinet permitted the inclusion of co-operative banks under supervisory controls of the Reserve Bank of India while declaring a Rs 1,542 crore year-long interest subvention scheme for microloan borrowers.

UCO Bank pairs-up with four insurers to sell their products

June 23, 2020

• State-run UCO Bank on 21^st June paired up with four insurers to offer different insurance products to its buyers through its network of branches across the country.

Yes Bank pairs-up Affordplan to start co-branded cashless healthcare card called ‘Swasth Card’

June 23, 2020

• Yes Bank Limited, an Indian public bank, has tied hands with Delhi-based fintech startup Affordplan, to start a first of its kind co-branded healthcare card called ‘Swasth Card’ under Swasth program with the plan to allow families plan and manage their finances for their healthcare needs.

Exim Bank stretches USD 20.1 mn credit line to Nicaragua govt

June 22, 2020

• Export-Import Bank of India (Exim Bank) on 20th June stated it has stretched a line of credit (LOC) of USD 20.10 million to the Government of Nicaragua for reconstruction of Aldo Chavarria Hospital.

Hyundai Motor India pairs-up with HDFC Bank to offer online car loans on Click to Buy

June 22, 2020

• Hyundai Motor India has declared a tie-up with HDFC Bank to offer online auto retail financing solutions to the customers on its Click to Buy digital car-buying. A buyer can purchase any Hyundai vehicle, viz. 2020 Creta, 2020 Verna, Venue, Elite i20, Grand i10 Nios and Santro, through the Click to Buy platform.

Maruti pairs-up with Karur Vysya Bank for flexible financing schemes

June 19, 2020

• Car market leader Maruti Suzuki India (MSI) on 16th June declared it has partnership with Karur Vysya Bank to extend simpler and flexible financing schemes for new customers.

Reliance sells 2.32% stake in Jio to Saudi wealth fund PIF for Rs 11,367 cr

June 18, 2020

• Saudi Arabia’s PIF, one of the world’s largest sovereign wealth funds, will invest Rs 11,367 crore for 2.32 percent of Jio Platforms, a well-known eleventh investment in the Reliance Industries Limited (RIL) digital unit in nine weeks.

IBBI reconstitutes advisory panel on the corporate insolvency resolution process

June 17, 2020

• The insolvency regulator IBBI(Insolvency and Bankruptcy Board of India) has reconstituted the Advisory Committee on Corporate Insolvency Resolution and Liquidation process. This panel, which would be led by Uday Kotak, Executive Vice Chairman and Managing Director, Kotak Mahindra Bank, comprises 13 members besides the Chairman.