Kotak Mahindra Bank and Axis Bank each has acquired 7.84% stake in Open Network Digital Commerce (ONDC) for ₹ 10 crore. ONDC was incorporated on December 30, 2021, in India. ONDC is an open public digital infrastructure. This network develops and transform the Indian ...

The Centre has set a target of about Rs 1 trillion for government-backed National Bank for Financial Infrastructure and Development (NaBFID) for sanctioning loans to the infrastructure sector in the next financial year i.e 2022-23. NaBFID is a government-backed Development Finance ...

HDFC Bank has announced to launch the following two initiatives/applications to give a digital push to small business loans. ‘AutoFirst’ application: that will offer fully automated auto loans. SmartHub Vyapar programme–  It is an app that bundles all payment platforms – cards, ...

State Bank of India (SBI) plans to set up an Innovation, Incubation and Acceleration Centre (IIAC) at Hyderabad in a bid to build in-house capability to bolster its current performance and drive higher top-line growth through innovation. The objective of this Innovation, Incubation and ...

Axis Bank, India’s third-largest private sector bank has been awarded IFR Asia’s Asian Bank of The Year, for its breadth of coverage and depth of expertise in the Asian investment banking space. The bank was awarded for its outstanding performance in equity and debt issuance, across all major ...

The RBI has released its final guidelines for microfinance loans, lifting an interest cap and allowing companies to have a board-approved policy to price for such lending. The RBI will continue checking that microfinance institutions do not charge usurious ...

RBI has barred Paytm Payments Bank from opening new accounts or adding new subscribers with immediate effect. RBI has also directed Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive audit of its IT system. This action is based on certain material ...

The Reserve Bank said NaBFID will be regulated and supervised as an All India Financial Institution by it under the RBI Act, 1934. It will now be guided under Sections 45L and 45N of the Reserve Bank of India Act, 1934. Currently, RBI has four AIFIs: EXIM Bank, ...

HDFC Mutual Fund has launched #LaxmiForLaxmi on the occasion of International Women’s Day 2022. #LaxmiForLaxmi is an end-to-end women-led missed call advisory service #LaxmiForLaxmi. #LaxmiForLaxmi is a financial empowerment campaign for women under which women investors will be ...

The Reserve Bank has released a booklet, “BE(A)WARE” on the common modus operandi used by fraudsters and precautions to be taken while carrying out various financial transactions. The booklet aims to enhance public awareness about various types of financial frauds perpetrated on ...