Category: Banking

NABARD: Disburse Rs 1.20 Lakh Crore Crop Loan to Farmers This Fiscal

September 11, 2020

• National Bank for Agriculture and Rural Development (NABARD) aims to disburse a Rs 1.20 lakh crore crop loan to farmers for meeting production expenses this fiscal and support the agriculture sector amid COVID-19 crisis.

Doorstep Banking Services launched by FM

September 10, 2020

• On 9th September, Union Finance Minister Nirmala Sitharam launched Doorstep Banking Services by Public Sector Banks (PSBs) with an aim to provide customers with the convenience of banking services at their doorsteps.

SBI to launch loan product ‘SAFAL’ for organic cotton growers

September 9, 2020

• State Bank of India will launch a loan product, SAFAL, for organic cotton growers with the help of Artificial Intelligence (AI) and Machine Learning (ML).
• SAFAL stands for Safe and Fast Agriculture Loan.

Guidelines for banks for resolution of COVID-19-related stressed assets in 26 sectors released

September 8, 2020

• Guidelines for banks for resolution of COVID-19-related stressed assets in 26 sectors Released by Reserve Bank of India (RBI) on September 7, 2020. These 26 sectors include aviation, tourism and auto components.
• The resolution plan is based on the recommendations of the KV Kamath Committee, which submitted its report on September 4, 2020.

Revised Priority Sector Lending Guidelines recently released by RBI

September 7, 2020

• Revised Priority Sector Lending Guidelines recently released by RBI by giving higher weightage to incremental priority sector credit in ‘identified districts’ where priority sector credit flow is comparatively low.

RBL Bank tied up with Empays Payment Systems

September 5, 2020

• To launch a cardless cash withdrawal facility from ATMs by leveraging the Instant Money Transfer (IMT) system, RBL Bank has partnered with Empays Payment Systems.

New guidelines on PSL released by RBI

September 5, 2020

• The Reserve Bank of India (RBI) recently released revised priority sector lending guidelines.
• New categories eligible for finance under the priority sector now include:
• Bank finance of up to ₹50 crores to start-ups,
• Loans to farmers so as install solar power plants for solarisation of grid-connected agriculture pumps,
• Loans for setting the compressed biogas (CBG) plants

ICICI Bank launches ‘Home Utsav’

September 4, 2020

• ICICI Bank has launched a virtual property exhibition under the name ‘Home Utsav’ to digitally showcase real estate projects by renowned developers across India. The exhibition can be accessed on www.homeutsavicici.com.

HSBC India Launched Omni Collect

August 29, 2020

• HSBC India has launched Omni Collect, a one-stop solution in India. It supports businesses to offer multiple payment options on a single platform.

HDFC Bank partnered with Adobe

August 28, 2020

• HDFC Bank has partnered with Adobe to enhance the Digital Experiences of its Customers. The partnership is powered by Adobe Experience Cloud Solutions and will help HDFC Bank to deliver personalised digital experiences to customers.