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IndusInd Bank Partners with Inspire Institute of Sport: A New Era in Sports Development Introduction to the Partnership IndusInd Bank has announced a significant partnership with the Inspire Institute of Sport, aiming to elevate sports training and development in India. This collaboration marks a pivotal step in enhancing the infrastructure and support systems for athletes…
RBI Forms Panel to Review Fee Structure for White Label ATMs Introduction to the RBI Panel Formation The Reserve Bank of India (RBI) has recently established a committee to evaluate the current fee structure for White Label ATMs (WLAs). This strategic move aims to address various concerns regarding the operational costs and service quality of…
SBI Launches “Amrit Vrishti” 444 Days Term Deposit with 7.25% Interest Rate State Bank of India (SBI), the country’s largest public sector bank, has recently introduced a new term deposit scheme named “Amrit Vrishti”. This scheme offers a competitive interest rate of 7.25% and is specifically designed to cater to the financial needs of both…
World Bank Approves $1.5 Billion Loan for Low-Carbon Energy Sector The World Bank has sanctioned a substantial loan of $1.5 billion to support the low-carbon energy sector. This funding is set to propel the transition towards sustainable energy solutions, emphasizing renewable energy sources and energy efficiency initiatives. Focus on Renewable Energy The primary objective of…
RBI Eases LRS Norms for Investment via Gift IFSC The Reserve Bank of India (RBI) has recently announced a significant relaxation in the Liberalised Remittance Scheme (LRS) norms, specifically targeting investments through the Gift City International Financial Services Centre (IFSC). This move is aimed at boosting foreign investments into India through the Gujarat-based financial hub….
Kotak Mahindra Mutual Fund Launches BSE PSU Index Fund Kotak Mahindra Mutual Fund has introduced a new investment opportunity with the launch of the BSE PSU Index Fund. This fund aims to capitalize on the potential of Public Sector Undertakings (PSUs) listed on the Bombay Stock Exchange (BSE), offering investors a strategic avenue to diversify…
PNB Launches Safety Ring to Enhance Internet and Mobile Banking Security Punjab National Bank (PNB) has introduced a new initiative called Safety Ring aimed at bolstering security measures for internet and mobile banking transactions. This innovative step comes amidst rising concerns over cyber threats in the banking sector. Safety Ring seeks to provide PNB customers…
PSU Banks Pay ₹6,481 Crore Dividend to Government for FY 2023-24 In the financial year 2023-24, Public Sector Undertaking (PSU) banks have contributed significantly to the government’s revenue by paying a substantial dividend amounting to ₹6,481 crore. This financial contribution highlights the robust performance and profitability of PSU banks, marking an essential development in the…
ICICI Prudential Launches India’s First Oil & Gas ETF ICICI Prudential, one of India’s leading financial institutions, has introduced the country’s inaugural Oil & Gas Exchange-Traded Fund (ETF). This groundbreaking initiative aims to provide investors with a unique opportunity to participate in the dynamic energy sector. The ETF will track the performance of major companies…
RBI Approves Govind Singh’s Re-appointment as MD & CEO of Utkarsh SFB Introduction The Reserve Bank of India (RBI) has granted approval for the re-appointment of Govind Singh as the Managing Director (MD) and Chief Executive Officer (CEO) of Utkarsh Small Finance Bank (SFB). This decision underscores the RBI’s confidence in Singh’s leadership and the…
