Category Archives: Banking

Usha Ananthasubramanian appointed Chairman | IBA

sha Ananthasubramanian

Ms. Usha Ananthasubramanian presently  MD and CEO, Allahabad Bank, has been appointed as the first woman Chairman of Indian Banks’ Association (IBA). Ms. Usha was elected IBA Chairman for the year 2017-18 by its Managing Committee .

Ms. Usha Ananthasubramanian has been Managing Director, Chief Executive Officer and Director of Allahabad Bank since … Read More

IBBI notifies Regulations for handling of Grievances and Complaints

Insolvency and Bankruptcy Board of India

The Insolvency and Bankruptcy Board of India (IBBI) has notified the IBBI (Grievance and Complaint Handling Procedure) Regulations, 2017 in the Gazette of India on 7th December, 2017. The Regulations enable a Stakeholder, namely, debtor, creditor, claimant, service provider, resolution applicant or any other person having an interest in an insolvency… Read More

SBI opens bank accounts for prisoners in Bengaluru Central Jail

SBI

In one of its kind financial inclusion plan in Karnataka, the State Bank of India today opened bank accounts for the prisoners in Bengaluru Central Jail. During a ceremony, 900 prisoners were handed over passbooks .

The prison authorities will now deposit the wages of prisoners directly in these bank accounts. This will avoid human intervention and encourage… Read More

SBI revamped digital offering gets all group products & services on one app

SBI

The State Bank will launch a comprehensive digital platform with a view to providing all its services as well as its subsidiaries with just one app. Finance Minister Arun Jaitley will launch the platform in New Delhi today. The proposed digital service platform ‘You Only Need One’, Yono will offer everything related to financial services and … Read More

No Proposal under consideration to withdraw Bank Chequebook facility

No Proposal under consideration to withdraw Bank Chequebook facility

In a section of the media, it has appeared that there is a possibility that the Central Government may withdraw bank cheque book facility in the near future, with an intent to encourage digital transactions. It is denied that there is any proposal under consideration of the Government to withdraw bank cheque book facility.

In this regard, it is emphasized that… Read More

Issue of recapitalisation Bonds and Reducing Government Stake in PSBs being Explored for Bank Recapitalisation

Reducing Government

The government is taking bold initiatives to facilitate a shift to a rule -bound and trust based system of economic management in the country from a rent-seeking and patronage based society prevailing at present. The recent reform measures such as demonetisation, introduction of GST, bankruptcy law, and RERA, among others, should be seen in this context,Read More

Rajnish Kumar appointed Chairman | State Bank of India

Shri Rajnish Kumar presently Managing Director, State Bank of India has been appointed Chairman State Bank of India for a period of 3 years taking charge on or after 07.10.2017 vice Smt. Arundhati Bhattacharya.

Mr. Rajnish Kumar has been the Managing Director of State Bank of India since May 26, 2015 and serves as its Group Executive of National Banking Group.… Read More

David Rasquinha appointed MD | EXIM Bank

David Rasquinha

Shri David Rasquinha  presently Deputy Managing Director , EXIM Bank  has been appointed as MD (Managing Director ) EXIM Bank for a period of three years.

He headed the Overseas Lines of Credit and Structured Trade Finance Groups of the Exim Bank. David joined Exim Bank in 1985 and since then has had a wide ranging exposure to the broad field of export credit,… Read More

August 22 | Bank Unions call for pan India strike

All India Bank Employees Association

Bank employee unions have called for a nation-wide strike on August 22 to protest against privatisation and merger of public sector banks, among other demands, a union leader said .The All India Bank Employees Association (AIBEA), which represents nine bank unions and employees of public and private sector banks, has called for a nation-wide strike on August… Read More

Arvind Panagariya to return to Academics | Resigns from Niti Aayog

Panagariya

Indian-American economist and Niti Aayog Vice-Chairman Arvind Panagariya resigned on Tuesday from his post. Panagariya, however, said he would leave the Government think-tank on August 31 and return to academic circles at Columbia University.

Panagariya’s exit move comes at a time when the Narendra Modi-led Government at the Centre is in the middle … Read More

Yes Bank, Cashkaro to launch first card linked offers program

Private sector bank Yes Bank announced its tie-up with Cashkaro to launch India’s first Card Linked Offers (CLO) cash-back proposition.The new launch is an innovative customer loyalty platform that provides online and offline shoppers with personalized merchant deals on which shoppers can avail cash-back offers, Yes Bank along with CashKaro will… Read More

Sunil Mehta appointed MD & CEO- Punjab National Bank

Shri Sunil Mehta has been appointed as Managing Director and CEO of Punjab National Bank.   Prior to this, Shri Mehta had been Executive Director of Corporation Bank since January 22, 2016. Mr. Mehta also served as General Manager of Allahabad Bank.

Shri Mehta is a Post Graduate in Agriculture and also MBA in Finance, a Certified Associate of Indian Institute… Read More