HDFC Bank, Lulu Exchange sign to enhance cross-border payments : HDFC Bank has signed an MoU with the UAE-based Lulu Exchange to strengthen the cross-border payments between India and the Gulf Cooperation Council (GCC) region. In the beginning, the expertise and regulatory framework of Lulu ...

Ajay Banga nominated  to lead World Bank: From Washington, US President Joe Biden has nominated former Mastercard CEO Ajay Banga to manage the World Bank, after current CEO David Malpass declared his intention to retire early.  Banga’s nomination comes amid a push for development lenders ...

Central Bank of India, Moneywise Financial Services tie up for MSME loans : Central Bank of India and Moneywise Financial Services Pvt Ltd (MFSPL) signed a co-lending agreement for lending to micro, small, and medium-sized enterprises (MSMEs). This partnership will help to expand the portfolio for ...

RBI scraps licence of MP-based Garha Co-operative Bank: The licence of Madhya Pradesh's Garha Co-operative Bank, Guna, was withdrawn by the Central Bank of India (RBI) due to insufficient capital and earning potential. According to a statement from the RBI, approximately 98.4% of the depositors of ...

RBI makes changes in NEFT, RTGS for daily reporting of foreign remittances: With the Home Ministry mandating SBI to report all details of overseas donors, including the purpose of remittances on a daily basis, the Reserve Bank of India (RBI) on Thursday made necessary changes in NEFT and RTGS ...

Indian Overseas Bank launches electronic bank guarantee scheme: Public sector Indian Overseas Bank has launched the facility of issuance of e-BG (Electronic Bank Guarantee) scheme in association with the National e-Governance Services Ltd, the bank said on Wednesday. e-BG: An instrument ...

CAMSPay receives RBI nod to operate as payment aggregator: CAMSPay has received in-principle approval from RBI to operate as a payment aggregator. It is a part of Chennai-based Computer Age Management Services (CAMS). February 2023 Current Affairs Quiz CAMSPAy, a payment platform ...

South Indian Bank ties up with Maruti for car financing: South Indian Bank has announced the signing of a MoU with Maruti Suzuki to provide dealer finance options and customised auto retail financing solutions for customers. With this tie-up, South Indian Bank aims to help dealer partners ...

World Bank chief steps down: David Malpass, the head of the World Bank, has announced his resignation almost a year early. He ending a tenure at the head of the development lender that was clouded by questions over his climate stance. The American Republican who had previously worked as Under ...

UPI LITE: Unified Payments Interface (UPI) LITE, supported by National Payments Corporation of India (NPCI) for numerous small-value UPI transactions, has been introduced by Paytm Payments Banks Limited (PPBL). This feature will help with faster real-time transactions with a single click through ...