South Indian Bank: Winner of Best Tech Bank
South Indian Bank has been honoured with the title of Best Technology Bank of the Year Award at the 19th IBA Annual Banking Technology Conference, Expo & Citations. The bank’s outstanding performance was recognised with a total of six prestigious awards. In this article, we will look at the achievements of South Indian Bank in […]
Centralised Processing Centre Begins for Company Filings
The government has launched a new initiative to process various forms and applications filed by companies and LLPs in a centralised and faceless manner. The initiative is called the Central Processing Centre and it aims to provide ease of doing business and faster processing of corporate filings What is Centralised Processing Centre and how does […]
IRDA’s 30-Day Free-Look Period for Insurance
If you have ever bought an insurance policy and regretted it later, you might be aware of the free-look period. It is a provision that allows you to return the policy within a specified time frame and get a refund of the premium paid, subject to certain deductions. The Insurance Regulatory and Development Authority of […]
RBI, NRB Merge UPI, NPI for Global Money Transfers
The Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) have taken a major step towards enhancing financial connectivity between the two neighbouring countries. On February 15, 2024, the central banks of India and Nepal signed and exchanged the Terms of Reference for the integration of their fast payment systems, namely, the Unified Payments […]
Informal Micro Enterprises Get Upto Rs 20 Lakh Loans
The government has launched a special scheme for Informal Micro Enterprises (IMEs) to provide them easy access to credit without collateral or third-party guarantee. The scheme is expected to empower individual entrepreneurs and create an inclusive, dynamic, and resilient economic ecosystem. What are Informal Micro Enterprises? Informal Micro Enterprises (IMEs) are small businesses that operate […]
Banks, Fintechs Offer Zero Forex Cards to Young Indian Tourists
The problem of forex markup fees Traveling abroad is no longer a luxury for young Indian professionals, who are increasingly exploring new destinations and cultures. However, one of the biggest challenges they face is the high cost of foreign exchange transactions, which can eat into their travel budget. Typically, when you use a credit or […]
RBI Restricts Fintech Over KYC Concerns
The Reserve Bank of India (RBI) has taken strict measures to prevent fintech companies from issuing business credit cards to their customers, citing concerns over compliance with Know Your Customer (KYC) norms and usage limitations of such cards. What are business credit cards and why are they issued by Fintech? Business credit cards are different […]
LIC Increased Investment in SBI Cards & Payments
Life Insurance Corporation of India (LIC), the largest institutional investor in the country, has increased its stake in SBI Cards & Payments Services Limited, the second-largest credit card issuer in India. LIC acquired more than three lakh shares of SBI Cards through open market purchases on February 9, 2024, taking its shareholding from 4.99% to […]
PayU and NPCI’s UPI Credit Line for Merchants
PayU, a leading payment solutions provider, has partnered with the National Payments Corporation of India (NPCI) to offer ‘Credit Line on UPI’ feature on its platform. This will enable PayU merchants to accept UPI payments from customers through pre-sanctioned credit line by banks. What is Credit Line on UPI? Credit Line on UPI is a […]
Yes Bank Eyes 50% Recovery from Katerra Debt
Yes Bank, one of the leading private banks in India, is set to recover about half of its dues from Katerra India, a construction technology company that is undergoing corporate insolvency. The bank had an outstanding debt of ₹521 crore to the company, which it decided to sell to an asset reconstruction company (ARC). Prudent […]