Banking Current Affairs 2017

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SBI launches mobile wallet app ‘Buddy’

India’s largest banking entity State Bank of India (SBI) launched a Mobile wallet application dubbed as ‘SBI Buddy’. It was launched by Union Finance Minister Arun Jaitley at a function held at State Bank Bhavan, Nariman Point in Mumbai. SBI’s first female Chairperson Arundhati Bhattacharya was also present on the occasion. Key features of SBI… Read More »

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RBI suspended licence of seven non-banking finance companies (NBFCs)

On 17 August the Reserve Bank of India (RBI) suspends licence of seven non-banking finance companies (NBFCs). The seven NBFCs whose licences were suspended are – Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, Dewra Stocks & Securities, Swetasree Finance. Being a dormant entity, Religare Finance licence was suspended… Read More »

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Union Government appoints two private sector professionals to head BoB, Canara Bank

Union government has appointed two private sector banking professionals as Managing Director (MD) and Chief Executive Officer of Bank of Baroda (BoB) and Canara Bank. This is the first time that Union government has appointed the two candidates from the private sector to head the Public Sector Banks (PSBs). Appointed persons are P S jayakumar:… Read More »

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Union Government unveils Indradhanush Mission for PSBs

Union Government has launched a seven pronged plan called Indradhanush Mission to revamp functioning of public sector banks (PSBs). It was launched by Union Finance Minister Arun Jaitley in New Delhi. Facts about Indradhanush Mission The seven shades of Indradhanush mission include appointments, de-stressing PSBs, capitalisation, empowerment, framework of accountability and governance reforms. It seeks… Read More »

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Union Government to form Bank Board Bureau

Union Government has decided to set up a Bank Board Bureau (BBB) to monitor key performance indicators of two dozen public sector banks (PSBs). It was announced by Union Finance Minister Arun Jailtley as part of a seven-pronged revamp plan for PSBs dubbed as Indradhanush (rainbow) plan. Facts about Bank Board Bureau Bank Board Bureau… Read More »

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