Banks in India Current Affairs, GK & News

SBI to waive penalty for non-maintenance of AMB for all savings accounts

The Largest lender of India, State Bank of India (SBI) recently announced that the penalty charges for non-maintenance of average monthly balance (AMB) for all its savings bank accounts are to be waived. At present, the customers shall have to maintain average monthly balance of ₹3000, ₹2000 and ₹1000 in metro, semi urban and rural areas respectively. The ..

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Chalasani Venkat Nageswar appointed as Deputy managing director and CFO of SBI

State Bank of India recently announced that Chalasani Venkat Nageswar has been given additional charge of Deputy managing director and Chief financial officer (CFO) of the bank. He is presently serving as the Deputy Managing Director (International Banking Group) has been given additional charges. SBI also recently said that it will invest ₹2,450 crore now, ..

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RBI unveils Yes Bank revival scheme

The Reserve Bank of India recently unveiled a draft scheme of revival Yes Bank, which has been put under the control of RBI. RBI also announced that State Bank of India is to make investment in Yes Bank and participate in the reconstruction scheme. The financial position of Yes Bank saw a gradual decline as ..

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Government approves merger of 10 PSBs into four

The government approved a scheme for the amalgamation of 10 state-owned banks into four, in the month of March 2020 and announced that the integration will be made effective from April 1, 2020. After this process, India will have 12 Public Sector Banks. Punjab National Bank, Oriental Bank of Commerce, and United Bank of India ..

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