Banking

For depositors of the tainted Punjab and Maharashtra Cooperative (PMC) Bank, the situation is not very different from what it was almost a year ago when the RBI placed withdrawal restrictions on the bank after the mega scam involving misreporting of loans with senior bank officials'' involvement came to light. Exactly one year ago, on September 23, 2019, the Reserve...

State Bank of India (SBI) has announced recruitment of specialist cadre officers. Application forms are available on the website, sbi.co.in. Candidates can fill and submit it on or before October 8. Candidates with work experience are eligible for these posts. There will be no written exam and selection to these posts will be through interview. Vacancy Details Deputy Manager Security:...

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said the country’s economic recovery will be gradual as the impact of Covid-19 has still not subsided. While addressing the FICCI National Executive Committee Meeting, Das said the economic recovery has not yet been fully entrenched and went on to add that the GDP data in the first quarter...

SBI General, one of India's leading General Insurance Companies and, YES BANK, a leading private sector bank, signed a Corporate Agency Agreement for the distribution of retail products of SBI General Insurance Company for its corporate and retail customers. The products of SBI General Insurance Company will be offered to YES BANK's customers across 28 states and 8 Union...

Mangal Credit and Fincorp Limited (MCFL), a leading non-banking financial company (NBFC) promoted by industry veteran Mr. Meghraj Jain, has announced its' entry into the loan against gold and diamond jewellery market with the launch of its' maiden retail branch in the Mumbai suburbs of Vile Parle followed by the launch of five more outlets in Andheri, Kandivali, Mira...

SoftBank executives have held early stage talks about taking the Japanese technology group private as the company seeks a new strategy after disposing of several large assets, according to a person familiar with the matter. The discussions are driven by frustrations over the persistent discount in SoftBank's equity valuation compared with the value of its individual holdings, which continues...

Electronic Payment and Services (EPS), India's leading indigenous payment processing company, has achieved concluding 100 daily sessions of organizing online expert talk-series on banking development through its homegrown digital platform #BusinessBankingDialogue. This unique campaign is a pandemic response initiative, towards supporting the banking fraternity. New Umbrella Entity - Duplication or Innovation The centennial session on Sep 14 covers the...

As bank Fixed Deposit rates hover around the 4-6% mark, people are switching to corporate FDs to earn higher returns. While these FDs promise attractive returns, there is always a question of safety of deposits. Hence, when choosing to invest in Fixed Deposit, it is best to choose AAA-rated deposits accredited with the highest safety. Fixed Deposit offered by...

Koshex helps its customers create and grow wealth by providing hyper-contextualized insights and transaction platform for Savings, Investments and Debt Customers can use the platform to buy investment products ranging from gold to mutual funds Koshex is focused on millennial customers aged 23-40 The platform is a product of Neuokosh, founded by Akash Agrawal and Komal Kumar Gupta Koshex...

The State Bank of India (SBI) is planning a voluntary retirement scheme (VRS) for which over 30,000 employees will be eligible. According to a report in news agency PTI, the state-lender is planning the VRS scheme to optimise its costs. Out of the 2.49 lakh employees of the bank, at least 30,190 employees are eligible for the VRS scheme,...