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“Risk Index” to facilitate banks in extending loans soon: CIBIL

August 12, 2012

Credit Information Bureau (India) Ltd (CIBIL) is likely to bring in a “Risk Index” that will assist country’s banks in making faster decisions on extending loans to corporates and business houses. Banks would be able to gauge the potential of ..

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RRBs can launch branches in Tier-II cities without RBI permission

August 8, 2012

The RBI has allowed Regional Rural Banks (RRBs) to open branches in Tier-II cities without asking for permit.  As per a notification by RBI, RRBs would be allowed to launch branches in Tier-II cities with a population of 50,000 to ..

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Anup Sankar Bhattacharya is the new Director of IBPS

July 9, 2012

Anup Sankar Bhattacharya has been appointed as the Director of the Institute of Banking Personnel Selection (IBPS). He took the place of M Balachandran.  Mr.Bhattacharya was the part of Advisory Board of Central Vigilance Commission. He was overseeing security issues ..

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Banking sector growth contingent on Innovative delivery model: PwC

July 2, 2012

According to a report by PwC (PricewaterhouseCoopers): · Innovative service delivery models, including mobile banking and ATMs, and the ability to satisfy customers will drive the growth of banking sector in the near future · The concerns over data security ..

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Farmers to avail loans directly from commercial banks

June 19, 2012

Farmers in Maharashtra who are yet to obtain loans from cooperative banks can now expect them from commercial banks. The state govt will soon take measures to assist Regional Rural Banks (RRBs) utilize the infrastructure of primary agriculture cooperative societies, ..

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Banks to Create “Unique Customer Identification Code”

June 9, 2012

The RBI has asked all banks to generate a Unique Customer Identification Code (UCIC) for each of their customers. Objective: The Unique Identification Code will fortify Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing Of Terrorism (CFT) ..

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