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The state owned public sector banks are to hold a month long drive to provide relief to the small businesses (MSMEs) through loans and restructuring options. The outreach program was launched by the central government in December and is to last till January 6, 2020. The banks are provide working capital for these MSMEs and ..
The Reserve Bank of India (RBI) has liberalised the norms for Gold Monetisation Scheme and has directed all lenders to promote and publicise the Gold Monetisation Scheme (GMS) from their branches. This underscores the intent of the RBI to make the Scheme a success. Changes brought in by the RBI The changes brought in by ..
The Punjab & Sind Bank has set up the Centralised MSME & Retail Group (Cen-MARG) for credit facilities at its head office in New Delhi. Now, all MSME and retail credit approvals will be performed at this centralised set up. This will help branches focus better on lead generation for retail and MSME lending and ..
FSS (Financial Software Services) has unveiled ‘FSS Voice Commerce’ which is a real-time voice banking platform to provide customers with personalized banking interactions. This platform uses machine-learning language processing techniques for analysis and synthesis of language and speech to deliver the service. It will interface with any retail banking system to provide real-time information of ..
The Reserve Bank of India has asked banks and financial institutions to disclose the NPA stemming from their exposure to troubled infrastructure conglomerate Infrastructure Leasing & Financial Services Limited and its group entities in their upcoming results. New directions are as per the order of the National Company Law Appellate Tribunal, which asked banks not ..
Since 2010, around a third of the scottish banks have been closed. This raises concerns about people’s access to cash. An analysis found that 610 banks were closed between 2010 and 2018. Edinburgh has most of the banks closed, cutting the numbers from 135 to 30. With the rise in digital payments, cash is still ..
On June 4, the Reserve Bank of India (RBI) has launched Financial Literacy Week (FLW-2018) across the country with Customer Protection as its main theme. The event will focus on creating awareness among customers of banks about financial products and services, good financial practices and going digital. It will give out four consumer protection messages ..
According to a report by PwC (PricewaterhouseCoopers): · Innovative service delivery models, including mobile banking and ATMs, and the ability to satisfy customers will drive the growth of banking sector in the near future · The concerns over data security and lack of regulation clarity seeks urgent govt attention in order to encourage innovation in ..