Overdraft Current Affairs, GK & News
BoB signs MoU with Indian Army for customised services
The Bank of Baroda (BoB) has signed a Memorandum of Understanding (MoU) with Indian Army under which the bank would offer customised services along with a host of facilities to account holders. The MoU offers handsome free personal accident insurance cover, free air accident insurance cover of Rs 15 lakh to Rs 50 lakh and ..
Topics: Bank of Baroda • Debt • Finance • Financial law • Money • MOU • Overdraft
SBI becomes first Indian bank to link interest rates to RBI’s repo rate
The State Bank of India (SBI) has become the first bank in the country to link its saving and loan interest rates to the Reserve Bank of India (RBI)’s repo rate. The move assumes significance as the effective interest rate from May 1 on savings deposit above Rs 1 lakh will come down to 3.25% ..
Topics: Banking in India • Finance • Finance in India • Interest rate • Money • Official bank rate • Overdraft • Reserve Bank of India • State Bank of India
SBI’s new rules on saving accounts and short-term loans effective from May 1
State Bank of India (SBI) has moved to a new interest rate regime on large savings account deposits with balance above Rs 1 lakh as well as short-term loans like overdraft and cash credit. SBI became the first bank in the country which has linked deposit accounts and short term loans to an external benchmark. ..
Topics: Bank • Bank deposits • Banking • Debt • Deposit account • Financial law • Financial services • Money • Overdraft • State Bank of India
ICICI Bank launches instant overdraft ‘InstaOD’ facility for Micro, Small and Medium Enterprises (MSME)
The ICICI Bank has launched instant overdraft ‘InstaOD’ facility for Micro, Small and Medium Enterprises (MSME) in a completely online and paperless manner. Customers can get overdraft facility up to Rs 15 lakh for a year anytime, anywhere using the bank’s Internet and mobile banking app. The new facility will enable a few lakh of ..
Topics: Bank • Banking • Debt • Financial law • Financial services • ICICI Bank • Mobile banking • Overdraft • Transaction account