Category: Banking

Axis Bank launched co-branded forex card in collaboration with Vistara

October 8, 2020

• Axis Bank launched a co-branded forex card named ‘Axis Bank Club Vistara Forex Card’ that will enable customers to travel to international destinations in a cashless and hassle-free manner in collaboration with Vistara.

GoI appoints three new economists as RBI’s MPC members

October 7, 2020

• Three new economists appointed as the members of the six-member rate-setting Monetary Policy Committee(MPC) of the Reserve Bank of India (RBI) by the Government of India.

Green-Tech Initiative “IB-eNote” launched by Indian Bank

October 2, 2020

• Indian Bank has launched a green initiative named “IB-eNote” to enable a total paperless working environment which enables the processing and tracking of notes put up by various offices digitally.

Yes Bank partnered with BSE to empower small business companies

October 1, 2020

• Yes Bank partnered with BSE to empower the SME segment through awareness and knowledge-sharing programmes.

Vakrangee gets RBI approval to set up BBPS unit

September 30, 2020

• The Reserve Bank of India (RBI) has granted in-principle approval to Vakrangee Ltd to set up Bharat Bill Payment Operating Unit (BBPOU) to handle payment services related to bills.

1st bank to enable document embedding feature on SFMS started by IDBI Bank

September 30, 2020

• Industrial Development Bank of India (IDBI) become the first to implement the new feature of document embedding facility with Letter of Credit (LC) / Bank Guarantee (BG) messages over SFMS (Structured Financial Messaging System) platform of Indian Financial Technology and Allied Services (IFTAS).

“Positive Pay System” for Cheque Truncation System launched by RBI

September 27, 2020

• “Positive Pay System” for Cheque Truncation System to be launched from 1^st January,2021 as announced by Reserve Bank of India. Banks will be required to enable the system for all account holders issuing cheques for amounts of Rs 50,000 and above.

KKR to invest Rs 5,550 crore in Reliance Retail Ventures

September 24, 2020

• Global investment firm KKR will be investing Rs 5,550 crore into Reliance Retail ventures Limited (RRVL) for a 1.28% equity stake.

HDFC Life tied up with YES Bank to sell insurance policies

September 24, 2020

• HDFC Life tied up with YES Bank to sell insurance policies. All the life insurance products of HDFC Life which includes solutions for protection, saving and investment, retirement and critical illness will be provided to the customers of Yes Bank.

HDFC Bank launches video Know Your Customer facility

September 22, 2020

• HDFC Bank has launched a video KYC (Know Your Customer) facility for its customers. HDFC Bank video KYC facility will be rolled in a phased manner. It is a paperless, contactless, and recorded interaction between a Bank official and the customer.