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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.

Credit flow to Micro, Small and Medium Enterprises Sector

RBI issued instructions to all the Financial Institutions including Banks, Cooperative Banks, NBFC’s and other FI’s to initiate necessary action for reclassification of enterprises as per the new definition w.e.f July 1, 2020 and issue necessary instructions to your branches/controlling offices in this regard,

RBI announces draft revival plan for Yes Bank.

Reserve Bank of India (RBI) today announced a draft revival plan for the beleaguered Yes Bank, in which it has been proposed that SBI can invest in the reconstructed bank for up to 49 per cent stake for nearly Rs 2,450 crore. The central bank has invited suggestions from public on the draft scheme till Monday, after which a final call will be taken.

SBI gets a ₹11,932 crore bad loans jolt from RBI

SBI reported a net profit of ₹3,011.73 crore in Q2 FY20. SBI gets a ₹11,932 crore bad loans jolt from RBI. Regulator finds that the lender under-reported its NPA numbers for FY19. Others including Union Bank, UCO, Lakshmi Vilas and Yes Bank have also reported a divergence in NPA numbers for FY19

Banks hire scores of oversight agencies to keep tabs on end-use of loans

With increasing cases of fund diversions, banks have come together and empanelled as many as 83 oversight agencies to keep a tab on the end-use of loans, State Bank chairman Rajnish Kumar said Thursday.

SBI, Bank of Baroda squeeze micro-ATM transactions of other banks

SBI, Bank of Baroda squeeze micro-ATM transactions of other banks. While Bank of Baroda is allowing users to do 4 transactions a day, SBI has limited it to just one.While BoB is allowing customers to do four transactions a day, SBI has limited it to just one.

SBI PO Main 2019 – Important Topics for Descriptive Essay and Letter Writing

SBI PO Mains is scheduled to be held on the 20th of July, on Sunday. The exam will be conducted in online mode. SBI will conduct Mains PO exam in two tests: 1: Objective Test (Online Mode): This test will consist of four sections with separate timing for each section: S. No. Sections No. of Questions/ Maximum…

Interest rate for SBI saving a/cs with Rs 1 lakh plus balance to be linked to repo rate from May 1

SBI will link interest rate on large savings account deposits to RBI’s repo rate from May 1.Repo-link effect: SBI savings a/c holders with balance above ₹1 lakh to get lower interest. Interest rate on SBI’s short-term loans like cash credit and overdraft facilities will also be linked to the repo rate.

SBI PO 2019 & SBI Clerk Notification 2019 Declared

Dear Friends, State Bank Of India (SBI) has released the notification regarding the recruitment of Probationary Officer (PO) 2019 and for the recruitment on the posts of the clerk in its branches all over India. Highlights of the notification here: For Clerks: ONLINE REGISTRATION OF APPLICATION AND PAYMENT OF FEES: 12.04.2019 TO 03.05.2019 Preliminary Examination will be conducted…

Centre plans amalgamation of RRBs at the State level

Three RRBs will be brought under the aegis of the SBI in Gujarat – REUTERS.The Centre is planning another round of amalgamation of Regional Rural Banks (RRBs). The number of RRBs is proposed to be brought down to 38 from 56. Will lead to more productivity and greater flow of credit to rural areas.

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Key takeaways from the Union Budget Financial Year 2024-25

Nirmala Sitharaman Budget Speech LIVE -Union Budget 2024

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Key takeaways from the Union Budget Financial Year 2024-25

Nirmala Sitharaman Budget Speech LIVE -Union Budget 2024