SBI to waive penalty for non-maintenance of AMB for all savings accounts

The Largest lender of India, State Bank of India (SBI) recently announced that the penalty charges for non-maintenance of average monthly balance (AMB) for all its savings bank accounts are to be waived. At present, the customers shall have to ..

Chalasani Venkat Nageswar appointed as Deputy managing director and CFO of SBI

State Bank of India recently announced that Chalasani Venkat Nageswar has been given additional charge of Deputy managing director and Chief financial officer (CFO) of the bank. He is presently serving as the Deputy Managing Director (International Banking Group) has ..

RBI capped Rs 50,000 as withdrawal limit of YES Bank customers: What is YES BANK CRISIS in news?

On March 5, 2020, the Reserve Bank of India imposed a month-long moratorium. Also, the Apex Bank has imposed withdrawal restrictions of Rs 50,000 to the customers. However, in case of medical emergencies and higher education fees, the restriction has ..

Month: Current Affairs - March, 2020

GoI to increase reach of banking in the North-East Tea Garden areas

On February 27, 2020, the Finance Minister Nirmala Sitaraman announced that the banking in the North East Region is to be increased. Highlights The minister in a meeting with economists, trade and industry representatives and policy experts announced that the ..

Month: Current Affairs - February, 2020

SBI signs MoU with Realme under e-DFS

State Bank of India (SBI) recently partnered with the mobile phone manufacturer Realme, to offer credit facilities. The partnership is made under the bank’s electronic lending product- Electronic Dealer Financing Scheme (e-DFS). Under this MoU, the dealers and distributors of Realme ..

MoU for Doorstep Banking signed between SCR and SBI

The South Central Railways (SCR) zone of the Indian Railways has signed a Memorandum of Understanding (MoU) and State Bank of India(SBI) for providing doorstep banking services in 585 Railway Stations of the South Central Railway Zone. According to the ..

Month: Current Affairs - January, 2020

MoU between Railways and SBI for door step banking

On January 14, 2020, the South-Central Railways and SBI signed MoU to implement door step banking in 585 railway stations Highlights The MoU will enable direct pick up of cash from all the railway stations included in the MoU. Before ..

Month: Current Affairs - January, 2020

Approvals made by CCI on 13th December 2019

The Competition Commission of India was established on 14th October 2003 under the Competition Act 2002. The Competition Act 2002 was passed by the parliament to prevent activities that may lead to an appreciable adverse effect on competition between companies, ..

NTPC signs term loan of Rs 5000 crore with SBI

The largest power company of India, National Thermal Power Corporation (NTPC) Limited has signed a term loan agreement of Rs 5000 crore with the country’s largest lender, the State Bank of India(SBI). The loan will be utilized to part finance ..

U GRO ink loan co-origination agreement with SBI

U GRO Capital has entered into a Small and Medium Enterprises (SME) loan co-origination agreement with the country’s largest lender State Bank of India (SBI) to increase loan disbursal and to maximize the credit outreach. GRO-Xstream is an indigenously developed ..