SWIFT Current Affairs, GK & News
The United States and the European Union (EU) have decided to cut off a number of Russian banks from SWIFT, the main international payment system. Russia’s central bank assets will also be frozen, which will limit Moscow’s ability to access its foreign reserves. Overview: This move’s intention is to further isolate Russia from the international ..
The Reserve Bank of India (RBI) has imposed stiff financial penalties on the State Bank of India(SBI) and the Union Bank of India (UBI) for the violation of specific RBI Regulatory violations. While SBI was fined a significant sum of Rs 7 crores, UBI got away with a smaller fine of Rs 10 lakh. Why ..
The Reserve Bank of India (RBI) has fined Punjab National Bank (PNB) Rs 2 crore for violation of compliance with regulatory directions regarding SWIFT operations. The RBI has toughened the stance against banks on all kind of regulatory norms post PNB fraud which put it to question the ability of the central bank. Earlier in March ..
Category: Economy & Banking Current Affairs - 2022
Topics: IFSC codes • karnataka bank • Karur Vysya Bank • PNB • Punjab National Bank • RBI • Reserve Bank of India • SWIFT • SWIFT operations • United Bank of India • Worldwide Interbank Financial Telecommunications
India’s largest private sector lender ICICI Bank became first Indian bank to go live on SWIFT’s (Society for World Interbank Financial Telecommunication System) Global Payment Innovation (GPI), an improved cross-border payments service. SWFIT GPI SWFIT GPI was launched in May 2017 to help banks to track their global transactions at all times, keeping full vigil ..
The SWIFT (Society for World Interbank Financial Telecommunication System) platform has expanded its GPI (Global Payment Innovation) Tracker system to help banks track their global transactions at all times and keep full vigil on payments activity. Key Facts From November 2018, GPI Tracker system i.e. unique end-to-end transaction reference will be included in all payment ..
The Reserve Bank of India (RBI) has directed banks to link SWIFT (Society for World Interbank Financial Telecommunication System platform) with their core banking solutions (CBS) by April 30, 2018. This decision is part of RBI’s efforts to tighten internal controls in banks following Rs 11,400 crore fraud that was unearthed at Punjab National Bank ..