Archive For The “Banking Current Affairs 2018” Category

For ‘M-Pesa’ Vodafone partners with ICICI Bank

By |

Vodafone India has launched its mobile money transfer and payment service ‘M-Pesa’ in India. The telecom giant has inked a partnership with ICICI Bank to extend this service in India. Vodafone will be offering its customers a mobile money account with ICICI Bank and a mobile wallet issued by MCSL (Mobile Commerce Solutions Ltd), via…

Read more »

Chanda Kochhar of ICICI – Most powerful Business woman in India: Fortune Magazine

By |

Fortune Magazine has named Ms Chanda Kochhar, MD and CEO of ICICI Bank as the most powerful business woman in Business in India. She has been named for the same for second time in a row. The top 3 most Powerful Business woman in India: Chanda Kochhar of ICICI Mallika Srinivasan of TAFE Aruna Jayanthi…

Read more »

Kavery Kalanithi of Sun Tv – India’s top paid Business woman

By |

As per Fortune Magazine, Ms Kavery Kalanithi of Sun TV group has retained her position as the India’s top paid business woman in 2012. Pay packages of Top 4 Business women in India: Kavery Kalanithi, Executive Director, Sun TV Group: Rs 57 Crore Urvi A. Piramal, Chairperson, Peninsula Land: Rs 7.3 Crore Preetha Reddy, MD,…

Read more »

PSBs’ profits would have been wiped out were they asked to maintain 70% PCR

By |

Thanks to RBI, which had withdrawn the requirement for 70% loan loss cover from September 2011. Else, Public sector banks, which have decreased their PCR (Provision Coverage Ratio) in the last one year, would have seen their quarterly profits wiped out, were they asked to maintain PCR of 70%. It is interesting to note that…

Read more »

Westpac Banking Corporation opens its firsrt branch in Mumbai

By |

Westpac Banking Corporation (Westpac Institutional Bank) received its banking licence from RBI on April 16, 2012. Westpac has operated in India since 2007 through its representative office. Westpac Institutional Bank (WIB): The Institutional Bank, which contributed 26% of Westpac’s total earnings in 2010, provides advisory and wholesale banking services to Westpac’s corporate and institutional customers….

Read more »

Sweden’s Volvo to invest in India

By |

Volvo is a Swedish truck, bus and earth-moving equipment maker. Volvo is the world’s 2nd largest truck maker by revenue. Volvo declared its plans to invest R s 3,800 Crore in India in next few years. Of this amount, it will be investing Rs 1,800 Crore in a joint venture with Eicher Motors. Volvo and…

Read more »

Finance Minister asks RBI to issue the final guidelines for new banking licenses

By |

The Finance Minister P Chidambaram has asked RBI to finalize the guidelines for issue of new banking licenses and commence accepting applications applications from interested entities.   But, RBI insists on amending the Banking Regulation Act before such a move. What RBI wants? RBI wants that before it issues final guidelines,  the overall Banking Laws (Amendment)…

Read more »

Madhav Chavan wins WISE Prize ‘The Nobel Prize for education’

By |

Dr Madhav Chavan has won the WISE Prize. The WISE Prize is considered to be the "Nobel prize for Education". Prize of $500,000 (£314,000) In recognition for his education work in the slums of Mumbai. His efforts to provide lessons in literacy and numeracy for disadvantaged children and adults in India. About Dr. Madhav Chavan…

Read more »

Income Ceiling for EWS and LIG housing raised by Govt

By |

Government has settled to raise the bar on yearly income needed to qualify for benefits under its existing housing schemes for Economically Weaker Sections (EWS) and Lower Income Groups (LIG). The move will benefit 20 lakh (2 million) people as more people will now qualify for taking benefits under Rajiv Awas Yojna (RAY) and EWS…

Read more »

By 2017, US can become world’s biggest oil producer

By |

The world’s foremost energy watchdog, the  International Energy Agency (IEA) in its recent report “World Energy Outlook 2012” has held that US can become the world’s largest oil producer by 2017. How would this happen ? Predictions for USA and Global Predictions….

Read more »

Banks to introduce new CTS-2010 by December 31, 2012

By |

Banks all over India are in the process of issuing fresh-look cheques with more security and standardized features to all its customers by December 31, 2012. From January 1, 2013, cheques which do not conform to CTS-2010 standards would not be entertained by banks. What is Cheque Truncation? We go to a bank and sign…

Read more »