What needs to be linked & what not after Supreme Court’s verdict on Adhaar

The Supreme Court has made Aadhaar mandatory for welfare schemes excluding those for kids. The biometric ID is not needed for mobile numbers and bank accounts.The Supreme Court on Wednesday 26th September 2018 brought out the list of services for which biometric ID Aadhaar needs to be mandatorily linked, and the ones for which it…

SBI PO & Bank of Baroda GD & Interview 2018 – Tips & Interview Experience

Dear Friends,  We have today uploaded on the website the GD & Interview Experiences of some of the Participants who have appeared for Bank of Baroda PO, GD & Interview commenced on 10th September and SBI PO GD & Interview commenced on 24th September 2018. It will be our endeavour to update the same as…

Bank Promotions – Latest Banking Updates (As on 31.08.2018)

Dear Friends, This booklet entitled ” Latest Banking Updates – Bank Promotions(as of 31.08.2018) has been prepared with an intention to provide ‘Latest Developments in Banking and Financial Sector’ for the enrichment of Bank’s Staff, the Banking knowledge and Banking Developments taking place in present day scenario, when the entire Banking Industry is facing heavy Turbulence…

Bank of Baroda, Vijaya Bank and Dena Bank to be merged

The government has announced that Bank Of Baroda, Vijaya Bank and Dena Bank will be merged into a single bank which will become India’s third largest bank. The move follows top lender State Bank of India last year merging with itself five of its subsidiary banks and taking over Bharatiya Mahila Bank, a niche state-run…

The Fugitive Offenders Bill 2018

The Fugitive Offenders Bill 2018 was introduced on March 12, 2018. It was passed by Lok Sabha on July 19, 2018 & then by Rajya Sabha on July 25, 2018. It will come into effect from the date President accords his assent.   Rationale behind the Fugitive Offender’s Bill – After the recent financial frauds…

Project Sashakt: 5 prong strategy on stressed asset resolution

Finance Minister Piyush Goyal unveiled ‘Project Sashakt’, a five-prong strategy to deal with non-performing assets. Sashakt aims to strengthen the credit capacity, credit culture and credit portfolio of public sector banks. What is Project Sashakt? Project Sashakt was proposed by a panel led by PNB chairman Sunil Mehta.  The Five-Prong Approach is as under:- 1. Outlining SME Resolution approach for…

FREQUENTLY ASKED QUESTIONS – Priority Sector Lending – Targets and Classification

Priority Sector Lending – Targets and Classification – (FAQ’s As on April 18, 2018)   1. What are the different categories under priority sector? Priority Sector includes the following categories: (i) Agriculture (ii) Micro, Small and Medium Enterprises(iii) Export Credit(iv) Education(v) Housing(vi) Social Infrastructure(vii) Renewable Energy(viii) Others 2. What are the Targets and Sub-targets for banks under…

RBI’s new cash management norms hike banks’ costs

With the Reserve Bank of India’s (RBI’s) new standards as of 6th April 2018 , for cash logistics companies kicking in from July 6, some lenders are raising the issue of higher costs and are making a case for higher inter-bank payments for use of automated teller machines (ATMs). On April 6, 2018, the RBI…

Buyer’s name to be compulsorily printed on Demand Drafts: RBI moves to plug money laundering avenue

The Reserve Bank of India (RBI) has made it mandatory to mention the name of the person on the front of the demand draft while purchasing it at a bank branch. At present, the DD form only asks for the name of the entity or person in whose favour it is to be prepared. In…

INTRODUCTION OF CERTIFICATE EXAMINATIONS ON EVERY 1st AND 3rd SATURDAY FROM AUGUST 2018 AT 100 CENTRES

IIBF has introduced Conduction of Certificate Examinations such as Certificate Course on MSME, Certificate Examination in Customer Service & Banking Codes and Standards, Certificate Examination in Anti-Money Laundering & Know your Customer, Certificate Examination in Prevention of Cyber Crimes and Fraud Management on every 1st and 3rd Saturday from August 2018. Institute will the conducting the following online examinations…