Category: Banking

Axis Bank introduces ‘Liberty Savings Account’ for Indian youth

August 27, 2020

• Axis Bank has launched a new savings account called the Axis Liberty Savings Account, aimed at millennial customers.
• It offers customers the option of maintaining a minimum balance of ₹25,000 per month or spending the same amount every month using the bank’s debit card.

HSBC launches ‘Omni Collect’, one-stop solution for multiple payment options

August 27, 2020

• HSBC India introduced Omni Collect, a one-stop solution to provide multiple payment options on a single platform.

ICICI: 1st Bank in India Uses Satellite Data to Assess Credit Worthiness of Farmers

August 26, 2020

• ICICI Bank Becomes the 1st Bank in India Uses Satellite Data to Assess Credit Worthiness of Farmers. The satellite data with demographic and financial details, provides strong information on the land asset of the farmer.

SBI General Insurance: ‘Shagun – Gift an Insurance’ Policy for Personal Accident

August 26, 2020

• SBI General Insurance Co Ltd launched a 1st of its kind offering, ‘Shagun – Gift an Insurance’, a unique gift of Personal Accident policy which can be gifted to anyone like friends, families, domestic helpers in the age group of 18 years to 65 years.

1st Foreign Bank in India to launch a ‘Green Deposit Programme’: HSBC

August 25, 2020

• HSBC India becomes 1st Foreign Bank in India to launch a ‘Green Deposit Programme’ for corporate clients to finance green initiatives and eco-friendly projects like renewable energy, clean transportation, and pollution prevention among others, that promote transition to a low-carbon, climate resilient and sustainable economy.

“LVB DigiGo” instant account opening facility launched by Lakshmi Vilas Bank

August 23, 2020

• To enable the opening of savings accounts instantly and to help people to avail the most required banking services instantly through the website, Lakshmi Vilas Bank has launched “LVB DigiGo” instant account opening facility.

Yes Bank: ‘Loan against Securities’

August 21, 2020

• ‘Loan against Securities’ launched by the YES Bank under its loan in seconds platform that will enable customers to avail loan facility against the securities that they hold. The customers are required only to pledge the securities and not sell them.

Fino Payments Bank launches “Jan BachatKhata”

August 19, 2020

• Fino Payments Bank has launched Jan BachatKhata (JBK), which is an Aadhaar Authentication based digital savings account that brings neo-banking experience to consumers.

A penalty of 10 lakh imposed on BOB

August 18, 2020

• For non-compliance of Regulation 7B of SEBI (Mutual Fund Regulations), it imposed a penalty of 10 lakhs on Bank of Baroda.

‘DIGITAL APNAYEN’ campaign launched by PNB

August 17, 2020

• ‘DIGITAL APNAYEN’ campaign has been launched by Punjab National Bank to aware people from the benefits of Digital Banking.