SBI launches online loan against mutual funds through Online Banking & YONO App
SBI becomes the first PSB to provide an end to end digital loan against mutual fund units
Loan against MF available for MF scheme of all the AMCs registered with CAMS
NPCI International partners with QNB to launch UPI Payments in Qatar
Indians travelling to Qatar will soon be able to make QR Code-based UPI merchant payments through QNB merchant network
Mumbai, July 11, 2024:
News Brief| Canara Bank pays Rs 1838 crore dividend to government, BoI Rs 935 crores
For the full year 2023-24, Bank of India’s net profit jumped by 57%, which went up from Rs. 4,023 crores in FY23 to Rs. 6,318 crores for FY24.
Proposed IBC amendment on guarantees to aid NPA recovery, says India Ratings
In a nutshell, the amendments state that a resolution plan shall not automatically release guarantors from their liabilities
SBI raises Rs10,000 cr at 7.36% through infrastructure bond issue
The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment.
Good news for bankers: IBA, unions agree on new norms on PLI,group medical insurance
Earlier, banks used to consider only operating profit as the yardstick. However, for the financial year 2023-24, each Bank can decide any of the following parameters for granting the PLI .
PNB Introduces Safety Ring Mechanism to Enhance Security for Internet and Mobile Banking Users
Safety Ring is an optional feature that allows customers to set a daily transaction limit with respect to term deposits (TD) on online closure or availing overdraft facility on TD’s up to the set limit amount.
RBI cancels permits of Polytex India and Star Finserv citing rule violations
In the case of Polytex, the RBI said it has violated the violated RBI guidelines on code of conduct in outsourcing of financial services by outsourcing its core decision-making functions related to client sourcing, Know Your Customer (KYC) verification, credit appraisal, loan disbursal, loan recovery, follow up with borrowers and attending and resolving complaints from borrowers, the RBI said.
Rainfall picks up; sowing status better than last year, says Emkay economist Madhavi Arora
Retail food prices stay higher due to persistent heatwave conditions