Stay up-to-date on the latest Banking current affairs news and developments with our comprehensive coverage. Our Banking Current Affairs category covers the latest trends, policies, and regulations shaping the banking industry. Stay informed on the latest developments in finance, fintech, and digital banking. Follow our category for daily updates and expert analysis on the issues that matter most to the banking community.
Aditya Birla Capital, the financial services arm of Aditya Birla Group, has exited the insurance broking business. The company has sold its entire stake in Aditya Birla Insurance Brokers Limited (ABIBL) to Edelweiss Insurance Brokers Limited (EIBL), a subsidiary of Edelweiss Financial Services. The deal is subject to regulatory approvals. ABIBL is a leading insurance…
Ashwani Kumar suggested as MD and CEO of UCO Bank by FSIB The Financial Services and Investment Board (FSIB) has recommended the appointment of Ashwani Kumar as the Managing Director (MD) and Chief Executive Officer (CEO) of UCO Bank. FSIB made this recommendation to the Appointments Committee of the Cabinet (ACC) after conducting interviews of…
Seylan Bank Nostro account : Seylan Bank of Sri Lanka opens INR denominated Nostro account in Indian Bank in Mumbai Seylan Bank, one of Sri Lanka’s prominent commercial banks, has opened an INR-denominated Nostro account in Indian Bank in Mumbai, India. This move is expected to strengthen bilateral trade relations and increase banking services between…
National Company Law Tribunal (NCLT) Approves HDFC and HDFC Bank Merger The National Company Law Tribunal (NCLT) has approved the merger of HDFC Developers Ltd with HDFC Bank. The merger was announced in November 2021, and the NCLT’s approval comes after HDFC Developers’ shareholders approved the merger in March 2022. As per the merger deal,…
FDIC appoints former Fannie Mae chief Tim Mayopoulos as CEO of Silicon Valley Bank The Federal Deposit Insurance Corporation (FDIC) has appointed Tim Mayopoulos as the CEO of Silicon Valley Bank (SVB). Mayopoulos is the former CEO of Fannie Mae, one of the largest mortgage finance companies in the United States. He will succeed SVB’s…
The Reserve Bank of India (RBI) has given approval for the reappointment of Sumant Kathpalia as the Managing Director and CEO of IndusInd Bank. This approval has come after Kathpalia’s three-year term ended on March 23, 2023. The reappointment of Kathpalia has been approved for three years starting from March 24, 2023, until March 23,…
PMLA 2002 Amended to Include Cryptocurrency Trade The Indian government has recently amended the Prevention of Money Laundering Act (PMLA) 2002 to include transactions related to cryptocurrencies such as Bitcoin, Ethereum, and other digital currencies. This move comes after the Reserve Bank of India (RBI) had banned banks from dealing with cryptocurrency exchanges in 2018,…
Max Life partners with Ujjivan Small Finance Bank to offer life insurance solutions Max Life Insurance, one of India’s leading private insurance companies, has partnered with Ujjivan Small Finance Bank to provide comprehensive life insurance solutions to its customers. The strategic partnership will enable Ujjivan Small Finance Bank’s customers to access Max Life Insurance’s products…
RBI digital payment mission : RBI Launches Mission to Make Every Citizen a User of Digital Payment The Reserve Bank of India (RBI) has launched a mission to make every citizen a user of digital payment. The mission aims to achieve the goal of a less-cash society and promote digital payments as the preferred mode…
RBI’s new pilot project on Coin Vending Machines The Reserve Bank of India (RBI) has launched a pilot project to introduce coin vending machines (CVMs) in various cities across the country. The project is aimed at increasing the circulation of coins in the country and making them easily available to the public. The RBI has…
