Banking News Archive
MOPAD-Multi-Option Payment Acceptance Device
MOPAD or Multi-Option Payment Acceptance Device is a POS terminal launched recently by the State Bank of India (SBI). The MOPED is the latest addition to the digital banking initiative by the largest bank in India. On
IndusInd Bank Nexxt Push Button Credit Card
Push Button Credit Card is a new innovation in payment card technology introduced in India by IndusInd bank. The card is launched by the bank as the IndusInd Bank Nexxt Credit Card. This is the first interactive
Internal Ombudsman (IO) Scheme, 2018
Banks in India have been instructed by Reserve Bank of India (RBI) to appoint an Independent Internal Ombudsman (IO) under the Banking Ombudsman Scheme. As per the revised guidelines consolidated under Internal Ombudsman Scheme, 2018, all Scheduled
Section 7 of RBI Act and Its Implications
Section 7 of RBI Act 1934 is a provision in that authorizes the Central government in India to issue directions to RBI. Section 7 of RBI Act came into limelight due to reports that the Central government
SEBI Revises Bid Size by HNIs to 50% of IPO
Some of the recent IPOs had witnessed huge oversubscription by High Net worth Individuals (HNIs) in the segment reserved for them. The Initial Public Offering (IPO) of Apollo Micro Systems in January 2018 received 963 times subscription
HBA scheme for Government Employees in Kerala shifted to Banks
Kerala State Government employees will have to approach scheduled commercial banks/ NBFCs functioning in the state to avail of House Building Advance (HBA scheme) hereafter. So far, the loans under House Building Advance at concessional rate of
First Cryptocurrency Kiosk in India installed by Unicoin
Cryptocurrency exchange Unocoin has installed the first cryptocurrency kiosk in India to enable Indians to buy and sell cryptocurrencies including bitcoins. The kiosk has been unveiled in Kemp Fort Mall in Bengaluru. M/s Unocoin Technologies Pvt Ltd
Unique Document Identification Number (UDIN) and ICAI
Unique Document Identification Number (UDIN) is a computer system generated unique number for validating documents certified or attested by a Chartered Account. Why is Unique Document Identification Number (UDIN) introduced? There have been many complaints that financial
18 Public sector banks report losses of Rs. 56,970 Crore in Q4, 2018.
Balance sheets of public sector banks are bleeding in Q4, 2018. According to publically available data 18 listed public sector banks have reported losses to the tune of Rs. 56,970 Cr during Q4 of FY 2017-18 as
RBI revises all in cost for ECB to 450 basis points
Reserve bank of India has revised the all in cost for External Commercial Borrowing (ECB) to 450 basis point above the bench mark rate. The rationalization and liberalization amendments announced by RBI on April 27, 2018 vide