Page-3 of SBI
To promote Digital Payment, SBI plans to eliminate Debit Cards
To provide a flip to the government’s vision to increase digital payments in India, the largest bank in India, the State Bank of India (SBI) plans to eliminate plastic debit cards. What is happening? As per the chairman of SBI, ..
Scheduled Bank Status in India
The Bengaluru-headquartered small scale bank Jana Small Finance Bank Limited has received the status of a Scheduled Bank. What are Scheduled Banks of India? The Scheduled Banks are the banks which are included in the Second Schedule of Reserve Bank ..
Change of Rules in Banking Sector
The Reserve bank of India has made a few changes in the banking sector. These include the removal of the minimum balance penalty charges by the banks. Also, the need to seed & link bank accounts with AADHAR has been ..
RBI fines banks for violations
The Reserve Bank of India (RBI) has imposed stiff financial penalties on the State Bank of India(SBI) and the Union Bank of India (UBI) for the violation of specific RBI Regulatory violations. While SBI was fined a significant sum of ..
RBI to Divest its Entire Stake in NABARD and NHB
The Reserve Bank of India (RBI) has sold its entire stakes in the National Bank for Agriculture & Rural Development (NABARD) and National Housing Bank (NHB) for Rs 20 crore and Rs 1,450 crore respectively. Disinvestment by RBI The decision to ..
Month: Current Affairs - April, 2019
SBI inked a pact with Bank of China
State Bank of India has inked an agreement with Bank of China to intensify business interactions between both the lenders. Under this pact, both SBI and Bank of China will gain direct access to their respective markets of operation. It ..
SBI launches cardless ATM withdrawal with YONO Cash
India’s largest Bank State Bank of India (SBI) has announced the launch of YONO Cash through which customers can withdraw money from ATMs without using a card. How does the Cardless Cash Withdrawal work? This Cardless Cash Withdrawal process works ..
Month: Current Affairs - March, 2019
SBI Ecowrap Report recommends Unconditional Cash Transfer to Farmers
The SBI Ecowrap report recommends the government to opt for the unconditional cash transfer to farmers to alleviate agrarian distress rather than Universal Basic Income (UBI) scheme. Why does the SBI report recommend unconditional cash transfer? The report has recommended ..
Month: Current Affairs - January, 2019
SBI to issue and encash electoral bonds soon
The GoI has notified the sale of electoral bond by SBI through its 29 authorized branches from 1.11.2018 to 10.11.2018. 29. These SBI branches are in cities like New Delhi, Gandhinagar, Chandigarh, Bengaluru, Bhopal, Mumbai, Jaipur, Lucknow, Chennai, Kolkata and ..
Month: Current Affairs - October, 2018
MOPAD: SBI launches unified payment terminal
India’s largest bank State Bank of India (SBI) has launched its Multi Option Payment Acceptance Device (MOPAD) for digital payments convenience of merchants and consumers. It aims at providing digital convenience to customers and ease of doing business for merchants ..