All posts by banking

NPCI offers cashback for RuPay International card usage

Reported by | Updated: January 3, 2020

National Payments Corporation of India (NPCI) said that it has launched global offers, under its existing ‘RuPay Travel Tales’ campaign, for all its RuPay International (debit/credit) Card users. Customers using RuPay International Card can now avail 40% cashback while performing international PoS transactions at merchant outlets accepting RuPay International Cards (JCB, Discover and Diners Club […]

Amitabh Chaturvedi is CEO, Karvy Group (Financial Services)

Reported by | Updated: January 3, 2020

The Karvy Group has appointed banking industry veteran Amitabh Chaturvedi as its Group CEO – Financial Services. He has been given the mandate to completely overhaul the governance processes, ensure best practices and to bring in greater fiduciary discipline to these businesses. The company also announced that it is in the process of restructuring its […]

Razer Fintech to set up a ‘global youth bank’

Reported by | Updated: January 3, 2020

Razer Fintech, one of Singapore’s respected fintech organizations promoted by entrepreneur Min-Liang Tan, has applied for a digital bank license in Singapore. The proposed bank will focus on the underserved youth and millennials segment. Razer Fintech is part of gaming hardware maker Razer. If it gets the license, it will build what is described as […]

BoB, JM Financial in home loan tie-up

Reported by | Updated: January 3, 2020

Bank of Baroda has entered into a strategic co-lending agreement with JM Financial Home Loans, which is the housing finance arm of JM Financial Group. Under the arrangement, the bank will offer retail loans to home buyers. The tie-up is expected to create a lending model synergizing the expertise of both Bank of Baroda and […]

Note identifying app for blind

Reported by | Updated: January 3, 2020

The Reserve Bank of India has launched a mobile app, Mobile Aided Note Identifier, or MANI, to help visually challenged people in identifying the denomination of currency notes. Governor Shaktikanta Das formally introduced the app. The app is free and can be downloaded from the Android Play Store and iOS App Store. The app, however, […]

RBI puts restrictions on UCBs over corporate loans

Reported by | Updated: January 3, 2020

The Reserve Bank of India put restrictions on urban cooperative banks while offering large corporate loans. The regulator has brought in these curbs in the light of the scam that hit PMC Bank where depositors lost their valuable money after the bank allegedly provided funds to a group without following lending norms and the funds […]

ICICI Securities to offer retail loans

Reported by | Updated: July 15, 2019

ICICI Securities is diversifying into retail assets business thereby making a significant change in its business model. The firm will now offer inclusive of products such as personal loans, home loans, loans against property, auto loans and credit cards offered by ICICI Bank. It will earn a distribution commission for selling these products through its […]

Yes Bank issues CP using block chain technology

Reported by | Updated: July 15, 2019

Yes Bank for the first time in Asia has facilitated the issuance of a commercial paper (CP) of Rs 100 crore using blockchain technology. The CP was issued for Vedanta. The bank said the issuance was done digitally, using R3 Corda enterprise blockchain platform developed by US-based MonetaGo. The blockchain platform, thus, ensures an efficient, […]

Societe Generale launches Catalyst Winter 2019

Reported by | Updated: July 15, 2019

Societe Generale has launched the Demo Day of the Catalyst Winter 2019 program with 8 startups and the solutions co-created to address 8 distinct business challenges identified across the bank’s global locations. Catalyst, the European bank’s startup accelerator program, has successfully completed 5 editions since its inception in 2015, spanning 17 countries, exploring over 62 […]

Axis Bank, Flipkart to launch new credit card

Reported by | Updated: July 15, 2019

Axis Bank has tied up with Flipkart to launch a co-branded credit card. It intends to have nearly 1 million users of this card by end-2019. Sanjeev Moghe, executive vice president, Payments at the bank, said the bank wants the card to be the fastest co-branded credit card to reach the 1 million-mark. The bank […]

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