Federal Bank Current Affairs, GK & News

Federal Bank: 1st to list Payment Gateway on New tax platform

Federal Bank, based in Kerala, is the first bank to get listed its Payment Gateway platform on “TIN 2.0 platform” of the Income Tax Department. TIN 2.0 platform was started on July 1, 2022. Highlights of the platform include: On the TIN 2.0 platform, a payment gateway gas been opened to provide another payment option to taxpayers. ..

Month: 

Category: 

Topics: 

Record Fall of Indian Rupee

On May 9th Indian Rupee fell to its all-time low against the US Dollar, closing at 77.50 per USD. Why did the value of the Indian Rupee fall? Due to rising inflation, US Federal Reserve increased the interest rate. This led to the strengthening of the US Dollar. There is a sustained outflow of capital ..

Month: 

Category: 

Topics: 

Federal Bank CEO re-appointed

Federal Bank shareholders have approved the motion of re-appointment of Shyam Srinivasan as managing director and chief executive officer (CEO) of the federal bank. Highlights He has been re-appointed CEO for a period of three years, which will come into effect from September 23, 2021 till September 22, 2024. Reserve Bank of India (RBI) approved ..

Month: 

Category: 

Topics: 

Shyam Srinivasan Re-Appointed as Federal Bank MD & CEO

The Reserve Bank of India has approved the re-appointment of Shyam Srinivasan as the MD-CEO of the bank with effect from September 23, 2020, and it will continue till September 22, 2021. The bank has already received this approval on July 16, 2020. The bank has intimated the stock exchanges that it has received the ..

Month: 

Category: 

Topics: 

RBI to buy and sell Government Securities worth Rs 10,000 crores

On December 23, 2019, the Reserve Bank of India will buy and sell government securities of Rs 10,000 crores under a special Open Market Operation. Such moves are implemented by the federal bank in order to bring down the interest rates of long-term securities. This time RBI has named its move as “Operation Twist”. There ..

Month: 

Category: 

Topics: 

Federal Bank to hire 3,000 employees over next three years

The private sector bank, Federal Bank plans to recruit about 3,000 employees and add 300 branches in the next three years. As per Federal Bank Managing Director and CEO, Shyam Srinivasan, in the last three years, 340 branches were added across the country and they intend to add 80-100 branches every year. Currently, the bank ..

Month: 

Topics: