Rajnish Kumar appointed as new chairman of Indian Banks’ Association

SBI chairman Rajnish Kumar has been appointed as the new chairman of Indian Banks’ Association (IBA) for 2019-20. He succeeded Sunil Mehta, who was the MD & CEO of Punjab National Bank (PNB). The IBA represents banks’ interests with the ..

Reliance renamed as Nippon India Mutual Fund (NIMF)

The Reliance Mutual Fund has been renamed as Nippon India Mutual Fund (NIMF). The name change came after Nippon Life Insurance of Japan completed the acquisition of 75% stake in Reliance Nippon Life Asset Management from Reliance Capital. Nippon Life ..

History of Banking in India

What are the ancient proofs of presence of banking system? Traces of information regarding existing of banking and financial system are found in India right from Vedic era to Buddhist, Mauryan, Satavahana, Sangam, Rajpoot, Sultanate as well as Mughal periods. ..

Google joins hands with Union Government for ‘Digital Payment Abhiyan’

Nasscom’s Data Security Council of India (DSCI) has recently collaborated with the Ministry of Electronics and Information Technology (MeitY) and Google India to launch a nationwide awareness campaign ‘Digital Payment Abhiyan’. The campaign will educate end-users on the benefits of ..

Airtel Payments Bank launches ‘Bharosa savings account’

The Airtel Payments Bank has launched the Bharosa Savings Account to deepen the financial inclusion in the country. It has been designed to serve the unique needs of under-banked and unbanked population of India. The account offers free Personal Accident ..

What could be implications of RBI’s mandate to link lending rates to an external benchmark?

The Reserve Bank of India, in a recent announcement, has mandated the banks to link their lending rates for loans to an external benchmark. This has made it mandatory for the banks to pass on the benefits of rate cuts ..