Banking - Focus Merit

April 11, 2020

Jana Small Finance Bank has started “DigiGen” a digital banking platform where customers can digitally open a savings account and fixed deposit instantly, anytime, anywhere.

April 11, 2020

The Reserve Bank of India(RBI) started a twitter campaign urging bank customers to adopt digital modes of payment that are convenient and safe.
RBI restated the multiple digital payment options such as NEFT, IMPS, UPI, and BBPS that are available 24*7.
The face of the campaign is Bollywood actor Amitabh Bachchan.

April 8, 2020

Small Industries Development Bank of India(SIDBI) will provide emergency working capital of Rs. 1 Crore to Micro, Small and Medium Enterprises (MSMEs).
This amount will be provided at an interest rate of 5% within 48 hours under the SIDBI Assistance to Facilitate Emergency response against Coronavirus (SAFE).

April 3, 2020

Green Bonds worth 100 million has been listed by State Bank of India on Bombay Stock Exchange’s India International Exchange(India INX).
Green bonds are debt securities issued by financial, non-financial or public entities where the proceeds are used to finance 100 per cent green projects and assets.
India now has the second-largest emerging green bond market after China.

April 3, 2020

To support farmers and poultry workers during the COVID-19 outbreak, Indian Bank has launched the following 3 new products.
IND COVID emergency Agro-processing Loan: Agro-processing units can avail 10% of the working capital
IND Covid Emergency poultry loan scheme: Poultry sector can avail 20% of the working capital.
IND KCC Covid Sahaya Loan: Farmers having Kisan Credit card facility can avail 10% of the limit as soft loan.
SHG Covid Sahaya Loan: Women members of Self Help Groups can avail loan of Rs. 5000 each repayable in easy instalments.

April 2, 2020

Hindustan Unilever on 2^nd April declared fulfillment of GlaxoSmithKline Consumer Healthcare Ltd’s merger (GSKCH) with itself.
The company has obtained all the required regulator approvals along with the National Company Law Tribunal for the merger of GSKCH into the company, HUL stated.

March 29, 2020

ICICI Bank has released the banking services on WhatsApp which will allow the banks’ retail customers to undertake a slew of banking demands from their home amid lockdown.
Customers have to send ‘Hi’ from their registered mobile number to the Bank’s verified profile number in order to initialize instantly.

March 26, 2020

Jana Small Finance Bank (SFB) has started a UPI QR-based loan installment payment facility to its existing 40 lakh plus customers & 5crore microfinance agencies.
Jana Small Finance Bank is a leading digitized bank in partnership with the National Payment Corporation of India (NPCI).

March 24, 2020

Karur Vysya Bank has released India’s 1st pre-paid card Enkasu (My cash in Tamil) in Karur, Tamil Nadu under its Quit cash movement.
These cards are special in the sense that it can be accepted ‘online’ & ‘offline’ as well.

March 24, 2020

Union Minister of Finance, Nirmala Sitharaman declared that cash withdrawal from other bank ATMs and penalties for non-maintenance of minimum balance has been ignored for 3 months.
This has been done to make sure that individuals don’t visit bank branches to avoid the spread of the coronavirus.

Category: Banking