Category Archives: Banking

Finance Ministry | ADB & India sign $190 million loan for improving road connectivity in Rajasthan

Asian Development Bank

PIB News Update: The Asian Development Bank and the Government of India yesterday signed a $190 million loan to upgrade 754 kilometres of state highways and major district roads (MDRs) to two-lane or intermediate-lane standards that will benefit about 26 million people in 14 districts of Rajasthan.

The signatories to the Tranche 2 loan agreement for the… Read More

NMDFC | Silver Jubilee Celebrations and Annual Conference

Ram Vilas Paswan inaugurates celebration of 60th ‘World Standard Day’

PIB News Update:Union Minister for Minority Affairs Shri Mukhtar Abbas Naqvi today said that India has become a “role model” for “Inclusive Growth and Positive Progress” for the entire world under the leadership of Prime Minister Shri Narendra Modi.

While inaugurating the Silver Jubilee Function and the annual conference of State Channelising Agencies… Read More

Finance Ministry | FM reviews Customer Outreach Initiatives & support to NBFCs

FM reviews Customer Outreach Initiatives & support to NBFCs

PIB News Update:Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman reviewed the performance of Public Sector Banks (PSBs) here today in a meeting with bank chief executives. Credit and implementation of measures announced to support economic growth were reviewed in-depth.

In the review, it was noted that during the first phase … Read More

GeM MoU with Union Bank of India

GeM signs MOU with Union Bank of India

PIB News Update:Government e-Marketplace (GeM) signed a Memorandum of Understanding (MoU) with Union Bank of India (UBI) in New Delhi on October 10, 2019. Through this partnership, UBI will be able to offer an array of services including transfer of funds through GeM Pool Accounts (GPA), advising of Performance Bank Guarantees (e-PBG) and Earnest Money… Read More

Big opportunity for India in possible shifting out of manufacturing & exports from China

Mithileshwar Thakur_IRS ME_indianbureaucracy_Data Security

India is always projected as a potential winner in every conceivable business relocation opportunity but it is just that. The so-called-potential never gets translated into reality, thanks to built-in lethargy and indifference in our system.

Credit Suisse has hinted at possible relocation of Chinese industries on account of shrinking Chinese manufacturingRead More

FM to inaugurate National e-Assessment Centre of Income Tax Department Today

 Income Tax Department

PIB News Update: The Income Tax Department is ushering in a paradigm shift in its working by introducing faceless e-assessment to impart greater efficiency, transparency and accountability in the assessment process. There would be no physical interface between the tax payers and the tax officers.

The setting up of National e-Assessment Centre (NeAC)Read More

51st Foundation Day of the Institute of Company Secretaries of India

51st Foundation Day of the Institute of Company Secretaries

PIB News Update: The President of India, Shri Ram Nath Kovind, graced and addressed the 51st Foundation Day of the Institute of Company Secretaries of India in New Delhi today (October 5, 2019). Speaking on the occasion, the president said that in recent times, we have seen how some business enterprises have broken the trust of the people. Companies have either… Read More

S S Mallikarjuna Rao appointed PNB MD & CEO | 10 THINGS TO KNOW

SS Mallikarjuna Rao_Indian Bureaucracy_PNB_MD_CEO

Shri Ch S S Mallikarjuna Rao, 57has been appointed as Managing Director & CEO of Punjab National Bank . Earlier, he was the Chief Executive of Allahabad Bank and comes with 34+ years of banking experience behind him . His banking experience ranges from manual branch banking to core networked banking, rural orientation to Metro working, experience Read More

MoD | MoU between Indian Army and Bank of Baroda

MoU between Indian Army and Bank of Baroda

PIB News Update: Indian Army and Bank of Baroda entered in a Memorandum of Understanding (MoU).  This MoU lays down the basis on which banking services would be provided by Bank of Baroda to serving and retired personnel of the Indian Army.  The ceremony was chaired by Lieutenant General Ashwani Kumar, Adjutant General.  The MoU was signed by Lt Gen Harsha Gupta,… Read More

S S Mallikarjuna Rao appointed MD & CEO- Punjab National Bank

S S Mallikarjuna Rao

Shri Ch S S Mallikarjuna Rao presently MD & CEO Allahabad Bank has been appointed as Managing Director & CEO of Punjab National Bank till September 18, 2021 .

Shri Rao,  57, at present the Chief Executive of Allahabad Bank a career banker, having  34+ years of banking experience behind him will head the Delhi-based PNB . His banking experience rangesRead More

MCA | CCI approves acquisition of shareholding in GAL by TUTPL, Valkyrie & Solis Capital

Competition Commission of India(CCI)

PIB NEWS UPDATE  | CCI approves the acquisition of shareholding in GMR Airports Limited (“GAL”) by TRIL Urban Transport Private Limited (“TUTPL”), Valkyrie Investment Pte. Ltd. (“Valkyrie”) and Solis Capital (Singapore) Pte. Limited (“Solis”) under Section 31(1) of the Competition Act, 2002.

The proposed combination relates to the acquisition of up … Read More