Scheduled Bank Status in India

The Bengaluru-headquartered small scale bank Jana Small Finance Bank Limited has received the status of a Scheduled Bank. What are Scheduled Banks of India? The Scheduled Banks are the banks which are included in the Second Schedule of Reserve Bank ..

Swiss National Bank – Annual Banking Statistics: Relevant Points

The annual banking statistics released by the Swiss National Bank makes the following observations: The UK has retained its top position in terms of money parked by its citizens and enterprises with Swiss banks. The UK accounts for more than 26 per ..

RBI Sets up Committee to Review ATM Charges

The Reserve Bank of India (RBI) has set up a committee under VG Kannan, Chief Executive Officer of the Indian Banks’ Association for giving a fillip to ATM deployment in unbanked areas. Terms of Reference for the Committee Reviewing the ..

RBI proposed strict rules to open and run current accounts of corporate borrowers

Reserve Bank of India (RBI) would propose strict rules on opening and operating current accounts of corporate borrowers to prevent the diversion of funds. RBI had notified that the banks with collection accounts will have to transfer funds to the ..

Banks Liable for Unauthorised Withdrawals: Kerala High Court

The Kerala High Court has said that banks cannot be absolved from the liability to the loss caused to a customer on account of unauthorised withdrawals made from his/her account, merely on the ground that the customer did not respond ..

Month: Current Affairs - February, 2019

Jayant Rikhye to be new chief executive of India operations of Hongkong and Shanghai Banking Corp. Ltd (HSBC)

Jayant Rikhye has been appointed as the new chief executive of India operations of Hongkong and Shanghai Banking Corp. Ltd (HSBC). He will take charge from 1 December and will succeed Stuart Milne. Currently, he is HSBC’s international head for ..