The Lok Sabha has passed the Banning of Unregulated Deposit Schemes Bill, 2019. This bill aims to curb the menace of non regulated financial schemes in the country and will authorize the government to effectively seize the immovable and movable assets of any financial defaulters who may escape from the country. What is in the ..
Finance: GK, General Studies and Current Affairs
The Andhra Bank has partnered with Floatbot to offer an Artificial Intelligence-powered virtual assistant for online banking users. The AI chatbot named “ABHi” – made by Floatbot – is integrated with Core Banking Servers (CBS) of Andhra Bank and will automate customer support for 5 crore Andhra Bank account holders. This AI chatbot solution can ..
The Bimal Jalan Committee which was formed under former RBI Governor Jalan on December 26, 2018, to investigate the economic capital framework (ECF) for the Reserve Bank of India. Why was it formed? As per conventional estimates, the RBI has over Rs 9 lakh crore of surplus capital in its reserves. The Jalan Committee was ..
The L&T Infrastructure Finance Company Limited (LTIF) has become the first Non-Banking Finance Company (NBFC) to get $100 million loan from Asian Infrastructure Investment Bank (AIIB) for on-lending to wind and solar power infrastructure projects in India. LTIF is a subsidiary of L&T Finance Holdings Ltd and a leading non-bank financier of renewable energy in ..
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 cent of the total foreign funds parked with Swiss banks at the end of 2018. ..