Banking in India: GK, General Studies and Current Affairs

Governors of RBI: Major Events During their Tenure

Sir Osborne Smith (1935-1937) Sir Osborne Smith was the first Governor of RBI. He had earlier headed the Imperial Bank of India. Lord Willingdon was India’s Viceroy when RBI started operations and sir Osborne Smith took charge as its governor. Due to his differences with the government over issues such as exchange rates, interest rates ..

History of Banking in India

1. What are the ancient proofs of presence of banking system? Traces of information regarding existing of banking and financial system are found in India right from Vedic era to Buddhist, Mauryan, Satavahana, Sangam, Rajpoot, Sultanate as well as Mughal periods. The most ancient are the loan deeds of Vedic era called rnapatra or rnalekhya. 2. Which financial ..

Indian Banks to share data to tackle Fraud

Three Indian Banks- the Bank of India, the Bank of Baroda and the Allahabad Bank- have come together to create a seamless service for the transfer of data which would then be used to tackle frauds. What has happened? The three banks aim to have seamless data sharing to enable them to tackle share data ..

NEFT to be available 24X7

The Reserve Bank of India has announced that the National Electronic Funds Transfer (NEFT) facility will be available round-the-clock basis from December 2019. At present NEFT payment system operated by the Reserve Bank as a retail payment system is available for customers from 8 AM to 7 PM on all working days of the week ..

Andhra Bank partners with Floatbot to launch AI chatbot “ABHi”

The Andhra Bank has partnered with Floatbot to offer an Artificial Intelligence-powered virtual assistant for online banking users. The AI chatbot named “ABHi” – made by Floatbot – is integrated with Core Banking Servers (CBS) of Andhra Bank and will automate customer support for 5 crore Andhra Bank account holders. This AI chatbot solution can ..