RBI divests its entire stake in National Housing Bank and NABARD

The Reserve Bank of India (RBI) has divested its entire stake in National Housing Bank (NHB) and the National Bank for Agriculture and Rural Development (Nabard) for Rs 1,450 crore and Rs 20 crore, respectively. The move is part of ..

IDBI Bank launches paperless account opening facility for NRIs

IDBI Bank has launched the ‘NRI-Insta-Online’ account-opening process for Non-Resident Indians (NRIs) residing in Financial Action Task Force (FATF) member countries. The person will not be required to furnish physical documents and KYC proofs for opening an account with the ..

EASE Index Report

The BCG-IBA report EASE Reforms for Public Sector Banks measures the performance of each PSB on 140 objective metrics across 6 themes. The 6 themes are: Customer Responsiveness: EASE for customer comfort Responsible Banking: Financial stability, governance for ensuring outcomes, ..

Month: Current Affairs - March, 2019

Capital Infusion of Rs. 48,239 Crore into 12 State-Run Banks

The government has approved the capital infusion of Rs. 48,239 Crore into 12 State-Run Banks. The capital inclusion has been undertaken to ensure the lenders are able to maintain regulatory capital requirement and step up lending and boost overall growth. With ..

Month: Current Affairs - February, 2019

Relaxation of Norms under PCA Framework

It is said that the finance ministry and the Reserve Bank of India are working on providing some relaxation on the prompt corrective action (PCA) framework for stressed banks. Prompt Corrective Action (PCA) Framework Prompt Corrective Action (PCA) framework has been issued ..

Month: Current Affairs - January, 2019

Development Financial Institutions

Development Financial Institutions are specialized institutions set up primarily to provide development/ Project finance especially in developing countries. These development banks are usually majority-owned by national governments. The source of capital of these banks is national or international development funds. This ..

Public Sector Banks in India

Public Sector Banks in India refers to those banks in which the Government equity / shareholding is more than 50%. At present, there are 22 Public Sector Banks in India of which 21 are scheduled commercial banks while one viz. ..

Entrepreneurship awareness Udyam Abhilasha campaign launched by SIDBI

On the 149th birth anniversary of Mahatma Gandhi, the Small Industries Development Bank of India (SIDBI) has launched a National Level Entrepreneurship Awareness Campaign – Udyam Abhilasha, in 115 aspirational districts identified by NITI Aayog in 28 States. The purpose ..