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IDBI Bank sells stake in insurance JV

Reported by | Updated: July 2, 2020

IDBI Bank has approved selling a 27% stake in IDBI Federal Life Insurance Co, its life insurance joint venture with Federal Bank and Belgium’s Ageas Insurance International to the two partners for Rs 595 crore. The bank will sell a 23% stake to Ageas and 4% to Federal Bank. The deal values the insurance company […]

SIDBI has a new DMD

Reported by | Updated: July 2, 2020

V. Satya Venkata Rao is the new Deputy Managing Director of SIDBI. He has taken charge recently. He has more than 29 years of experience in financial institutions like IFCI and HUDCO and has handled several departments including legal, human resources, corporate communications and worked as Central Public Information Officer and Appellate Authority under the […]

ICICI Bank introduces video KYC facility

Reported by | Updated: July 2, 2020

ICICI Bank now facilitates its retail customers to complete the KYC process through video interaction. The bank has, to begin with, made the facility available for new customers keen to open a savings account, including a salary account with the bank, or avail a personal loan from the bank. The facility is also available for […]

SIDBI sets up Swavalamban fund for MSMEs

Reported by | Updated: July 2, 2020

SIDBI is setting up ‘Swavalamban Crisis Responsive Fund’ to support free onboarding of MSMEs on Trade Receivables Discounting System (TReDS). Receivables Exchange of India, M1xchange and Invoicemart are the 3 TReDS platforms, which help MSMEs gain access to working capital through invoice discounting via multiple financiers. Mohammad Mustafa, CMD of SIDBI said the government has […]

Rupeeseed to offer its platform for traders

Reported by | Updated: July 2, 2020

Rupeeseed Technologies Ventures, a company engaged in developing solutions for retail and institutional trading, has decided to offer its trading platform to those who have been using the National Stock Exchange’s NEAT on Web (NoW) platform, which has been closed down recently. Rupeeseed said it will offer the platform at a reasonable rate to brokers […]

PNB helps MSMEs

Reported by | Updated: July 2, 2020

Punjab National Bank said it has sanctioned Rs 6757 crore in 296753 eligible MSME accounts under 300,000 crore Guaranteed Emergency Credit Line (GECL) out of which disbursements have been made to 59204 accounts amounting to Rs 2030 crore. On the occasion of International MSME Day on 27 June, S.S. Mallikarjuna Rao, MD & CEO of […]

Finesse launches RPA CoE with Automation Anywhere

Reported by | Updated: July 1, 2020

Global system integrator Finesse launched Robotic Process Automation (RPA) Center of Excellence (CoE) with Automation Anywhere, a global leader in RPA to further develop intelligent automation capabilities in the region. The CoEis expected to deepen the existing collaboration with Automation Anywhere and provide technical guidance, testing, development of software bots, and complimentary RPA training and […]

DBS Bank, Xero collaborate to help SMEs

Reported by | Updated: July 1, 2020

DBS Bank of Singapore is partnering with Xero, the global small business platform, for encouraging more SMEs to adopt cloud-based accounting and software services. Offered in collaboration with Enterprise Singapore and Info-communications Media Development Authority (IMDA) under the SMEs Go Digital Program, eligible SMEs referred through DBS Bank will be offered 6 months of free […]

Yes Bank launches new digital wallet

Reported by | Updated: July 1, 2020

Yes Bank has launched ‘Yuva Pay’, a unique digital wallet to enable contactless payments. The bank has collaborated with UDMA Technologies is in line with its fast-track innovation efforts of enabling communities to experience the convenience of digital banking services. The digital wallet is issued under minimum KYC regulations, combined with bill payments via Bharat […]

Federal Bank builds houses for flood-affected

Reported by | Updated: July 1, 2020

Federal Bank recently provided 80 houses to the flood-affected people in Baswad and Rajapurwadi in Kolhapur, built under its CSR project. The bank undertook complete rebuilding of these damaged houses in these villages very badly affected by the floods that happened in September-October 2019. It had earlier announced a comprehensive package for rebuilding of these […]

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