Thomas Cook Muthoot partnership expands forex card services to Tier II–IV cities in India with Study Buddy and Borderless Travel Cards, supporting students and travelers with secure and eco-friendly features. Thomas Cook (India) Limited has formed a strategic alliance with Muthoot Forex — the foreign exchange arm of the renowned Muthoot Group. This partnership enables Thomas Cook’s Borderless Travel…
Canara Bank Removes Minimum Balance Rule for All Savings Accounts Introduction In a significant move aimed at enhancing customer convenience and promoting financial inclusion, Canara Bank has announced the removal of the Average Monthly Balance (AMB) requirement across all its savings bank accounts, effective from June 1, 2025. This policy change applies to all types…
Flipkart Secures NBFC Licence from RBI: A Strategic Move into Direct Lending Introduction: Flipkart’s Entry into Direct Lending Walmart-owned Flipkart has received approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC). This development allows Flipkart to offer loans directly to customers and sellers on its platform, marking a…
🏦 Canara Bank Abolishes Minimum Balance Requirement for All Savings Accounts Effective June 1, 2025, Canara Bank has eliminated the Average Monthly Balance (AMB) requirement across all its savings accounts, including regular, salary, and NRI accounts. 📌 Key Highlights 🔍 Why This News Is Important ✅ Promoting Financial Inclusion By removing the AMB requirement, Canara…
Slice Completes Merger with North East Small Finance Bank Overview of the Merger In a significant development in India’s financial landscape, Slice, a prominent fintech company, has successfully completed its merger with North East Small Finance Bank (NESFB). This merger, aimed at enhancing Slice’s banking capabilities, will allow the fintech firm to leverage NESFB’s extensive…
Introduction: A Decade of Social Security Initiatives In May 2025, India commemorates a significant milestone—the 10th anniversary of the Jan Suraksha Schemes, launched by Prime Minister Narendra Modi on May 9, 2015. These initiatives aimed to provide accessible and affordable social security to the masses, particularly targeting the unorganized sector and economically vulnerable populations. Overview…
UPI’s Dominance in India’s Digital Payments Landscape The growth of India’s digital payments ecosystem has been remarkable over the past few years, and one of the key drivers of this revolution is the Unified Payments Interface (UPI). The UPI system, launched in 2016 by the National Payments Corporation of India (NPCI), has significantly transformed the…
RBI’s Progressive Step Towards Financial Inclusion In a landmark move, the Reserve Bank of India (RBI) has permitted minors aged 10 years and above to independently open and operate bank accounts. This decision aligns with RBI’s vision of increasing financial literacy and inclusion among the younger generation. The step is intended to instill a sense…
Poonawalla Fincorp and IndusInd Bank Launch Co-Branded RuPay Credit Card Introduction of the New Credit Card Poonawalla Fincorp Limited and IndusInd Bank have collaborated to launch a new co-branded credit card named the ‘IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card’. This card aims to enhance the customer experience by offering various rewards and…
IndusInd Bank’s Pilot Program with RBI’s Programmable CBDC: Revolutionizing Agricultural Finance IndusInd Bank has embarked on a groundbreaking initiative in collaboration with the Reserve Bank of India (RBI) by launching a pilot program utilizing the central bank’s Programmable Central Bank Digital Currency (CBDC). This innovative endeavor seeks to transform the landscape of agricultural finance, offering…
