Chalasani Venkat Nageswar appointed as Deputy managing director and CFO of SBI

State Bank of India recently announced that Chalasani Venkat Nageswar has been given additional charge of Deputy managing director and Chief financial officer (CFO) of the bank. He is presently serving as the Deputy Managing Director (International Banking Group) has been given additional charges. SBI also recently said that it will invest ₹2,450 crore now, ..

Topics: Banks in India • Reserve Bank of India • SBI

RBI capped Rs 50,000 as withdrawal limit of YES Bank customers: What is YES BANK CRISIS in news?

On March 5, 2020, the Reserve Bank of India imposed a month-long moratorium. Also, the Apex Bank has imposed withdrawal restrictions of Rs 50,000 to the customers. However, in case of medical emergencies and higher education fees, the restriction has been increased to Rs 5 lakhs. Highlights The Reserve Bank has taken actions as the ..

Month: Current Affairs - March, 2020

Category: Economy & Banking Current Affairs

Topics: Banking Regulation Act • RBI • Reserve Bank of India • SBI • Yes Bank

GoI to increase reach of banking in the North-East Tea Garden areas

On February 27, 2020, the Finance Minister Nirmala Sitaraman announced that the banking in the North East Region is to be increased. Highlights The minister in a meeting with economists, trade and industry representatives and policy experts announced that the banking in the tea garden regions of the north east is to be increased. This ..

Month: Current Affairs - February, 2020

Category: Economy & Banking Current Affairs

Topics: Assam Tea Traders • Digital Banking • Finance Minister • nirmala sitaraman • North East Development • SBI

SBI signs MoU with Realme under e-DFS

State Bank of India (SBI) recently partnered with the mobile phone manufacturer Realme, to offer credit facilities. The partnership is made under the bank’s electronic lending product- Electronic Dealer Financing Scheme (e-DFS). Under this MoU, the dealers and distributors of Realme would get access to credit facilities at low interest rates and minimum collateral. The inventory ..

Topics: Banking • SBI

MoU for Doorstep Banking signed between SCR and SBI

The South Central Railways (SCR) zone of the Indian Railways has signed a Memorandum of Understanding (MoU) and State Bank of India(SBI) for providing doorstep banking services in 585 Railway Stations of the South Central Railway Zone. According to the signed MoU, SBI will be providing direct pickup of cash facility from the 585 Railway ..

Month: Current Affairs - January, 2020

Topics: Indian Railways • Memorandum of understanding • SBI • South Central Railway zone • State Bank of India