August Month Banking Awareness 2017

August Month Banking Information 2017:

NTPC has signed a term loan agreement for Rs. 3,000 crore with ICICI Bank for partially funding its capital expenditure.

Ujjivan Small Finance Bank Ltd has received the scheduled bank status by Reserve Bank of India (RBI).

The Income Tax Department has imposed Rs 7,900 crore penalty on the tax demand of the same amount on a unit of billionaire Li Ka-shing’s CK Hutchison Holdings Ltd.

The Insurance Regulatory and Development Authority of India (IRDAI)
has launched a Central Database of all Insurance Sales Persons in the country.

The Multi Commodity Exchange Ltd (MCX), has received capital markets regulator Securities and Exchange Board of India’s (SEBI) approval to launch options trading in gold.

State Bank of India has launched a CSR (Corporate Social Responsibility) initiative, SBI Gram Seva, which will work in the areas of health, education, environment and rural infrastructure.

HDFC Bank announced a software upgrade to create a single point-of-sale (PoS) machine which will accept payments through Unified Payments Interface (UPI), BharatQR, SMS Pay and the bank’s mobile wallet, in addition to the traditional mode of swiping cards.

Kotak Mahindra Bank has launched Kotak Remit. It is an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers.

Punjab National Bank (PNB) has introduced biometric attendance in the place of the existing system of signing attendance in the attendance register.

Punjab National Bank customers will have to pay charges for depositing cash above Rs. 5,000 in a non-base branch even if it is located in the same city.

ICICI Bank has launched instant credit cards enabling its savings to account customers to get a credit card instantly, in a completely digital and paperless manner.

Axis Bank reduced the interest rate on savings bank accounts by 50 basis points to 3.5 per cent for deposits up to Rs 50 lakh.

Flipkart Group (Flipkart), India’s leading e-commerce marketplace, has announced an investment – a mix of primary and secondary capital – from SoftBank Vision Fund (Vision Fund), the world’s largest technology-focused investment fund.

Canara Bank unveiled two new digital services for online payments:

1. Bharat QR (Quick Response): For payment settlement at merchant locations.
2. Bharat Bill Payment System (BBPS): It is an integrated bill payment system for net banking customers.

ICICI Prudential Mutual Fund has launched a new website ‘’ to help users plan their investments according to their future financial goals.

Karnataka Bank Ltd has ventured into social media by opening its official pages in social networking sites such as FaceBook, Twitter, Instagram, and YouTube.

Karur Vysya Bank opened its first Aadhaar Enrollment Centre.

Bharat QR Code is the world’s first interoperable quick response code acceptance solution launched by the Reserve Bank of India

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