Pakistan Becomes the Largest Recipient of ADB-Funded Programs Amidst Economic Crisis: According to the Asian Development Bank's (ADB) Annual Report 2022, Pakistan received $5.58 billion in loans, making it the highest recipient of ADB-funded programs/projects in 2022. Out of the total lending, ...

SBI fourth startup branch opens in Mumbai BKC: The State Bank of India (SBI) has opened an exclusive branch for startups at the Bandra Kurla Complex in Mumbai. This is the fourth startup-focused branch, after Bengaluru, Chennai, and Gurugram. April 2023 Current Affairs QuizIn Mumbai, the bank ...

Zimbabwe to introduce gold-backed digital currency: The Reserve Bank of Zimbabwe (RBZ) has revealed intentions to launch a gold-backed digital currency to combat the decreasing value of the Zimbabwean currency. The digital gold tokens will be a form of electronic money, backed by gold held at the ...

SBI’s fourth startup branch opens in Mumbai BKC: In Mumbai's BKC neighbourhood, SBI built its fourth branch specifically for entrepreneurs. SBI Chairman Dinesh Khara remarked during the launch ceremony that the branch's main goal is to provide full help to startups throughout their journey, from ...

India’s RBI considers softening stance on market infrastructure deal: According to reports, India's central bank is likely to soften its stance on signing a market infrastructure agreement with European authorities if the latter abandon their demand to scrutinise and penalise Indian intermediaries ...

Sekhar Rao appointed as interim MD and CEO of Karnataka Bank: The Reserve Bank of India (RBI) has approved the nomination of Sekhar Rao, the bank's executive director, as interim managing director and chief executive officer, according to Karnataka Bank, a private lender based in Mangaluru. The ...

SBI reintroduces 400 days ‘Amrit Kalash’ retail term deposit scheme: State Bank of India (SBI), India’s largest lender by assets, has announced the re-introduction of its retail term deposit scheme, Amrit Kalash. The scheme offers a special tenor of 400 days and provides an interest rate of 7.6% ...

ICICI Bank introduces EMI facility for UPI payments: The ICICI Bank has introduced an EMI facility for UPI payments made by scanning a QR code.Those customers, who are eligible for the PayLater facility, can avail of the EMI facility using the Bank’s ‘buy now, pay later’ option. April 2023 ...

World Bank chief raises 2023 global growth outlook: World Bank Group President David Malpass has informed that the lender has revised its 2023 global growth outlook slightly upward to 2% from a January 2023 forecast of 1.7%. April 2023 Current Affairs QuizBut the slowdown from stronger 2022 ...

SBI to launch new current accounts and savings accounts in FY24: SBI is planning to launch new variants of the current a/c (with balances of ₹50,000 and ₹50 lakh) and the “Parivar” (family) savings a/c in FY24. Aim: To minimize the gap between deposit growth and credit growth. April 2023 ...