Focus Merit

Category: Banking

KCC Review option on YONO Krishi

August 16, 2020
SBI
  • Recently SBI has added KCC Review option on its YONO Krishi platform, digital agri solution platform so that farmers can easily access their KCC limit without visiting their branch.

Innovation Hub for the financial sector

August 9, 2020
Reserve Bank Of India (RBI)
  • The Reserve Bank of India (RBI) is planning to set up an Innovation Hub.The aim of this Innovation Hub is to promote innovation across the finance sector in India by using technology.

Repo rate unchanged at 4.0 percent, GDP growth predicted to be negative in FY2

August 6, 2020
repo rate
  • The policy repo rate unchanged at 4.0 percent after the decision was taken by the six-member Monetary Policy Committee during its meeting on August 6, 2020.
  • The MPC has consequently decided to keep the reverse repo rate under the liquidity adjustment facility (LAF)unchanged at 3.35 percent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 percent.

‘Kona Kona Umeed’ campaign started by Kotak Mahindra Bank

August 2, 2020
Kona Kona Umeed
  • ‘Kona Kona Umeed’ campaign started by Kotak Mahindra Bank in which the bank will provide a range of offers and deals on its products including loans, savings accounts, current accounts, corporate salary accounts as well as Kotak debit cards, credit cards and digital payments. It campaign will last for two months.

Canara Bank launched Corona Kavach policies

August 1, 2020
Corona Kavach policies
  • Canara Bank on Friday has tied-up with three insurance companies to sell short-term Corona Kavach policy to cover COVID-19 related health expenses.
  • The bank has tied up with New India Assurance Company Ltd, Bajaj Allianz General Insurance Co Ltd and HDFC ERGO Health Insurance.

MobiKwik launches personal UPI payment link mpay.me

July 31, 2020
MobiKwik
  • Mobikwik that operates businesses in consumer payments, payment gateway and financial services, has launched mpay.me – a UPI payment link service to send and receive money from any UPI payment app. mpay.me claims to simplify the process of sending and receiving money especially when a sender and a receiver are on different UPI apps.

SBI Card launch Contactless Credit Card on RuPay Platform

July 29, 2020
Contactless Credit Card
  • Indian Railway Catering and Tourism Corporation (IRCTC) of Indian Railways and SBI Card has launched a Co-branded Contactless Credit Card on RuPay Platform. It is in line with Aatma Nirbhar Bharat, Digital India and Make In India mission. The new credit card is dedicated to the service of India the Union Minister of Railways and Commerce & Industry Piyush Goyal.

RBI extended an amount of $400 Million Currency Swap Facility to Sri Lanka

July 27, 2020
Reserve Bank Of India (RBI)
  • The Reserve Bank of India has signed and gave the confirmation for extending a USD 400 million currency swap facility to Sri Lanka to boost the island nation’s draining foreign exchange reserves due to the coronavirus pandemic.
  • The currency swap arrangement will remain available until November 2022.