SBI’s Hong Kong branch fined $1 mn for violating money laundering law by Hong Kong Monetary Authority (HKMA).
HDFC Bank and Snapdeal which is owned and operated by Jasper Infotech jointly launched co branded e-commerce credit card on 3rd Aug, 2015.
IDFC received a universal banking licence from the RBI last year, will start banking operations from October 1st Vinod Rai,-former Comptroller and Auditor General of India (CAG) and non-executive chairman of IDFC.
HSBC India to launch “green-bonds” in India to enable fund raising for investments in environmental projects-Naina Lal Kidwai, Chairman of HSBC
SBI Life Insurance has launched a new product, “SBI Life – Smart Humsafar” that provides a wide range of multiple benefits of savings and insurance cover for husband and wife under a single policy.
RBI allows banks to merge, shift or close branches in Urban areas without seeking its prior permission as per Section 23 of the Banking Regulation Act, 1949 -Relaxations in Branch Authorization Policy.
Swiss National Bank(SNB) hiked exposure to Indian companies namely Infosys and Tata Motors beside with Apple, Microsoft and ExxonMobil.
India has received USD 24 billion in Foreign Direct Investment from the 28-nation bloc over the last three years.
CBDT notifies changes in IT rules to comply with Foreign Account Tax Compliance Act (FATCA) with the US.
ICICI Bank launches ‘Saral-Rural Housing Loan’ Scheme – with a special interest rate for rural areas which includes women borrowers as well as seekers from weaker sections.
GOI and World Bank signed a financing agreement for World Bank (IDA) for additional financial assistance of USD 308.40 million for National Cyclone Risk Mitigation Projects I & II (NCRMP-I &II).
IRDAI allows Banks to tie up with insurers with a maximum of nine insurers from three segments which are life, non–life and standalone health insurers.
RBI notified Interest Subvention Scheme 2015-16 of Union Government for banks-4%.
Gov has cleared 23 foreign investment proposals, including Catholic Syrian Bank and Bandhan Financial Services, amounting to Rs 10,378.92 crore.
Axis Bank launched First Multi-Currency Contactless Card service in India, in association with VISA the payments gateway company in the country.
RBI paid a dividend of nearly Rs 66,000cr to the government, highest ever from the central bank in its 80-year history, and 22% more than it paid last year.
Indradhanush(rainbow) mission, a 7-pronged plan to revamp functioning of public sector banks (PSBs) was launched by GOI Finance minister Arun Jaitley- infuse Rs 20,088 crore into 13 PSU bank 7 Agenda: 1 Appointments ,2. Bank Board Bureau ,3. Capitalization ,4. De-stressing, 5. Empowerment ,6. Framework of Accountability and 7. Governance Reforms.
Union Bank of India (UBI) in association with Visa launched three new cards – one debit card and two credit cards for its customers.
Canara Bank said the government will infuse an equity capital of Rs 947 crore in the bank.
HDFC Bank, slashed its base rate the minimum rate at which it lends by 0.35 percent to 9.35 percent.
Union Government decided to set up a Bank Board Bureau (BBB) to monitor key performance pointers of public sector banks (PSBs) announced by Union Finance Minister Arun Jaitley.
HDFC will sell 9 percent stake in HDFC Life to its British joint venture partner Standard Life for a little over Rs 1,700 crore.
State bank of Travancore here has launched a new mobile ATM in Thiruvanathapuram, Kerala’s capital, With an aim to bring banking facility at the doorstep of customers.
RBI suspended licence of 7 Non-Banking Finance Companies (NBFCs) under RBI Act, 1934.Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, Dewra Stocks & Securities and Swetasree Finance.
Union Finance minister Arun Jaitley launched State Bank of India’s mobile wallet- State Bank ‘Buddy’ in collaboration with Accenture and Master Card.
ICICI Bank launched locker facility named Smart Vault a fully automated locker available 24×7, including weekends and after banking hours.
Union Finance Minister Arun Jaitley launched two funds – 1)India Aspiration Fund (IAF) and 2) SIDBI Make in India Loan for Enterprises (SMILE) under Small Industries Development Bank of India (SIDBI).
LIC launches maiden unit linked insurance plan (ULIP) which offers investment cum insurance during the term policy and provide due benefit of risk cover and benefits of investment markets.
RBI granted ‘in-principle’ approval to 11 applicants to start a payments bank issued on November 27, 2014 -1. Aditya Birla Nuvo Limited. 2. Airtel M Commerce Services Limited. 3. Cholamandalam Distribution Services Limited. 4. Department of Posts. 5. Fino PayTech Limited. 6. National Securities Depository Limited. 7. Reliance Industries Limited. 8. Shri Dilip Shantilal Shanghvi. 9. Shri Vijay Shekhar Sharma .10. Tech Mahindra Limited. 11. Vodafone m-pesa Limited.
UAE-based bank Emirates NBD ties-up with Axis Bank, Empays Payment to transfer money directly into registered mobile numbers in India from UAE.
Centre declared that the second and fourth Saturday of every month would be a holiday for banks, with effect from September 1, 2015.
RBI’s nine-member Committee headed by R’Gandhi recommended conversion of UCB’s with business size of 20000 crore rupees or more into regular banks.
Online investment account launched by ICICI Securities for investment in mutual funds.
SBI announced that they are “working on” its low-cost consumer touch model to compete with payments banks in the remote areas-Arundhati Bhattacharya, Chairman of SBI.
Finance Minister Arun Jaitley inaugurated the Bandhan Bank in Kolkata’s Science City Auditorium on -first private bank in 11 years.
DRDO entered into licensing agreements with Ramdev’s company for transfer of Seabuckthorn technology based products developed by Defence Institute of High Altitude Research (DIHAR).
ICICI Bank launches ‘mortgage guarantee’ backed loans for retail customers allows a borrower to enhance the loan amount by up to 20% and also provides the option to extend the repayment period up to 67 years of age is launched by ICICI Bank.
Indian Bank launches IndPay mobile app service enables its customers to operate bank accounts from anywhere, anytime.