Banking – Page 5 of 19 – Career Heights ... an online portal of Khare & Associates..

The Insolvency and Bankruptcy Code, 2016—- A Primer

The presence of multiple laws, forums and complexities resulted in delays in the timely resolution of the distressed entities and eventually resulting in deterioration of assets and their realizable value. The IBC 2016 laid down a collective mechanism for resolution of insolvencies in the country in a time bound manner and to preserve the economic value of assets of corporate persons, partnership firms and individuals and to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders

Account Aggregators-New Entrant in Banking Arena

The Reserve Bank of India’s (RBI) Account Aggregator (AA) Framework went live on 2nd September 2021 with eight major banks joining the network which includes State Bank of India (SBI), ICICI Bank, Axis Bank, IDFC First Bank, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, and Federal Bank. Earlier, Reserve Bank of India (RBI) had already granted licenses to four entities to work as Account Aggregators which included CAMS FinServ, Cookiejar Technologies (Product named Finvu), FinSec AA Solutions Private (OneMoney) and National E-Governance Services Asset Data. Three more have received in-principle approval (PhonePe, Perfios, Yodlee), and some more are in different stages of application.

Account Aggregators System: New framework to access, Share financial Data

On September 2, 2021 the Reserve Bank of India’s (RBI) Account Aggregator (AA) Framework went live. Eight of India’s major banks — State Bank of India, ICICI Bank, Axis Bank, IDFC First Bank, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank and Federal Bank — joined the Account Aggregator (AA) network that will enable customers to easily access and share their financial data. The framework, which has been under discussion since 2016 and in the testing phase for some time, will now be open to all customers.

Finance Minister unveils 4th edition of Public Sector Bank Reforms Agenda – EASE 4.0 – Reviews performance of public sector banks – Announces EASE 3.0 award winners

Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today on 25th August 2021 unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22 – tech-enabled, simplified, and collaborative banking. She unveiled the annual report for the PSB Reforms Agenda EASE 3.0 for 2020-21 and participated in the awards ceremony to felicitate best performing banks on EASE 3.0 Banking Reforms Index.

PM launches digital payment solution e-RUPI

Prime Minister Shri Narendra Modi launched digital payment solution e-RUPI, a person and purpose specific digital payment solution, today via video conference. e-RUPI is a cashless and contactless instrument for digital payment.

RBI Bulletin – July 2021

The Reserve Bank of India today released the July 2021 issue of its monthly Bulletin. The Bulletin includes three Articles and Current Statistics.

The three articles are: I. State of the Economy; II. Monetary Policy Transmission in India: Recent Developments; and III. Drivers of Indian Pharmaceutical Exports.

Periodic Updation of KYC – Restrictions on Account Operations for Non-compliance

Keeping in view the current COVID-19 related restrictions in various parts of the country, REs are advised that in respect of the customer accounts where periodic updation of KYC is due and pending as on date, no restrictions on operations of such account shall be imposed till December 31, 2021,

Monetary Policy Review dt. 7th April 2021

The Monetary Policy Committee (MPC) met on 5th, 6th and 7th April, 2021 and deliberated on current and evolving macroeconomic and financial developments, both domestic and global. The MPC voted unanimously to leave the policy repo rate unchanged at 4 per cent. It also unanimously decided to continue with the accommodative stance as long as necessary to sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward. The marginal standing facility (MSF) rate and the bank rate remain unchanged at 4.25 per cent. The reverse repo rate stands unchanged at 3.35 per cent.

Understanding New Umbrella Entity (NUE)

To address the ‘risk concentration’ of only one platform and offer consumers more options, the RBI in 2020 invited private companies to bid for a license to set up a new platform.
• NUE (New Umbrella Entity), a digital platform which will be for-profit and be allowed to charge fees for online transactions, unlike the existing system
• The new entity or entities will be able to earn interest from the float that customers maintain in their online shopping accounts

RRB PO & SBI PO results are out…

RRB PO and SBI PO results are declared and several candidate who have taken mock interview with Rakesh Khare in Mahendra Education pvt ltd are declared successful with strike rate of 69.56 %

Category: Banking

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Budget 2026: Key Takeaways from FM Nirmala Sitharaman's speech

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Budget 2026: Key Takeaways from FM Nirmala Sitharaman's speech