Banks sanction loans worth over Rs 1.5 lakh crore under ECLGS for MSME

The finance ministry declared, Public and Private Sector Banks have disbursed loans over Rs 1.5 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector. The top three lenders under the scheme are the State Bank ..

Month: Current Affairs - August, 2020

Reliance Industries at 96th rank in Fortune Global 500 list

Reliance Industries, headed by the Indian Billionaire Mukesh Ambani, has jumped 10 places to break into the world’s top 100 companies on the Fortune Global 500 list. Reliance is ranked 96th in the 2020 ranking released by Fortune. This is ..

Month: Current Affairs - August, 2020

GoI introduces Floating Rate Savings Bonds

On June 26, 2020, the Government of India introduced Floating Rate Savings Bonds. Highlights The bond is to replace savings bonds that were offered by GoI till May 28, 2020. The operational guidelines and the details of the bond are ..

Month: Current Affairs - June, 2020

SBI to provide 0.25% of its annual profit to tackle coronavirus outbreak

The country’s largest bank State Bank of India (SBI) announced that it will provide 0.25% of its annual profit for the year 2019-20 to support health care for underprivileged people and fight the coronavirus pandemic. As per the statement of ..

SBI unveils emergency credit line for borrowers amid coronavirus outbreak

India’s largest lender State Bank of India has recently unveiled an emergency credit line to meet liquidity mismatch for its borrowers, amid the coronavirus pandemic scare. The additional liquidity facility called Covid-19 Emergency Credit Line (CECL) will provide credit up ..

SBI to infuse Rs.725 Cr into Yes Bank

The Reserve Bank of India drafted a reconstruction plan of Yes Bank recently. As per the plan, the investor bank shall buy 49% stake in Yes Bank. Recently, the State Bank of India announced that the executive committee of its ..