Page-12 of Banking in India Current Affairs, GK & News
Strong Fundamentals: The IBA-FICCI-BCG Report (August 2011), says that India’s Gross Domestic Product (GDP) growth will make the Indian banking industry the third largest in asset size in the world by 2025′. This report gives a very hopeful picture of the Indian Banking Sector in times ahead. However, being largest is not enough – being ..
SEBI to come out by Nov’11 Homogenous norms for setting up a uniform Know Your Customer (KYC) Regulation Authority. It will relieve the burden comparable on the intermediaries as well as the common man, seeking to make investments. This mechanism once set would make certain that KYC exercise is undertaken only once and enabling all ..
Topics: Anti-money laundering software • Bank regulation • Banking in India • Crime • Economy • Financial regulation • Know Your Customer • KYC • Money • Money Laundering • Politically exposed person • Terrorism financing
Presidency University declared CIC Centre declared the prestigious Presidency University the first Cluster Innovation Centre in eastern India. The National Innovation Council has envisaged Cluster Innovation Centres (CIC) as focal points to promote innovation in and around the university system. These innovation centres are expected to function as independent bodies inside the university and facilitate ..
Topics: Bank • Banking in India • Basel II • Credit rating agencies • Moody's Investors Service • Nandan Kanan Express • Rail transport in India • States and union territories of India • Transport in Delhi • Transport in India
With a view to inter-connect the ATMs in the country and facilitate easy banking for the common man, the Institute of Development and Research in Banking Technology (IDRBT), Hyderabad conceptualized, developed and implemented the National Financial Switch. The National Financial Switch facilitates routing of ATM transactions through inter-connectivity between the Bank’s Switches, thereby enabling the ..
Topics: Banking • Banking in India • Finance • Financial services • Interbank networks • National Financial Switch • Payment and settlement systems in India • Payment systems • Reserve Bank of India • RuPay
The Indian financial system currently consists of commercial banks, co-operative banks, financial institutions and non-banking financial companies (NBFCs). The commercial banks can be divided into categories depending on the ownership pattern, viz. public sector banks, private sector banks, foreign banks. While the State bank of India and its associates, nationalised banks and Regional Rural Banks ..
Topics: Bank • Bank regulation • Banking in Australia • Banking in India • Central bank • Deposit insurance • Economy • Finance • Financial services • Palai Central Bank • Reserve Bank of India • State Bank of India