Banking in India: GK, Current Affairs, Questions, Trivia and News

Achievements of the Indian Banking System

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 ..

Homogeneous KYC Regulation norms by Nov’11

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 ..

News Today: November 29, 2011

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 ..

National Financial Switch

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 ..

Differentiated Bank Licences and Issues with New Licenses in India

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 ..

Banking & Finance Update

April 17, 2009: RBI Turns Net Foreign Exchange BuyerApril 18, 2009 : RBI widens scope of unsecured loansApril 20, 2009 : IFC-backed funds to pick up equity in Indian infra projects April 20, 2009 : Meltdown hits Rs 5,500cr solar power project in BengalApril 21, 2009 : Economy to grow at 5.7% in FY10, as ..

Quick News Today

1. The Government has decided to infuse a 3800 crore fund to UCO Bank , Central Bank of India and Vijaya Bank to shore up their capital adequacy. 2. The citizens dream of “anytime, anywhere” could be reality by 2013 with the central Government deciding to pump in 20175 crore for as many as 27 ..