SBI savings bank account for minors: All you need to know

-Cheque book facility is available with both types of accounts. The mobile number of the account holder is recorded. Specially designed personalised cheque books with 10 cheque leaves are issued. In the former case it will be issued to the Guardian in the name of minor. In the latter, it will be issued if the […]

SBV tells banking industry to develop an inclusive finance system

SBV’s deputy Nguyen Kim Anh told the industry’s conference on the action plan to serve the national financial strategy to 2025 that: “The inclusive finance system needs to specify vulnerable groups, helping them access the financial system in a favourable manner.”

Despite lower interest rates, people still put money in banks

The rate of Techcombank is lower compared to the average rate of 3.5 per cent per year applied at four commercial banks with State capital and much lower than the ceiling interest rate of 4.25 per cent per annum regulated by the State Bank of Viet Nam (SBV).

SBM bank ties-up with Mastercard, launches SBM world debit card

State Bank of Mauritius (SBM) India and Mastercard announced the launch of a unique debit card customized for the refined needs of high net worth customers. The SBM World Debit Card represents a blend of niche banking solutions and carefully curated lifestyle privileges, including some shopping and dining opportunities.The bank said the card has been […]

SBI, HDFC, ICICI Bank see surge in suspicious transactions during COVID-19: Report

The Financial Intelligence Unit (FIU) has been inspecting several transactions and even pulled up some of the large public sector banks for taking the mechanism of red flags “casually”, a senior bank official told ET. Regulations demand banks, non-banking finance companies and insurance companies to report suspicious transactions to FIU every month. The report suggests […]

Banks catalysts of economic revival, make special efforts to reach out to people: Nirmala Sitharaman

The finance minister said it will make a huge difference if banks are able to provide services to customers through feature phones and not just smartphones. “The 40 crore (beneficiaries of PMJDY) that you are able to talk about today, cannot be a laurel on which we can afford to live any further. Yes, we […]

Bank CEOs discuss accelerated digital shift after COVID-19 pandemic

COVID-19 pandemic has led to numerous disruptions in business models, operations, and functioning of industries all throughout the globe. The banking sector globally, and more specifically in India has been no exception. In the past six months, Banks have moved and accelerated their transformation digitally, ensuring no customer left behind in the process of bouncing […]

The world’s central banks are starting to experiment. But what comes next?

The problem of sustained low inflation first emerged in Japan in the 1990s. It was then the exception. The events of 2008 shocked the financial systems of Europe and the US. Central banks responded with dramatic asset purchases, known as quantitative easing. That staved off disaster, but it left lacklustre growth and prices drifting perilous […]

Accelerating workforce transformation to help banks stay competitive

banking sector, it is imperative for banks to transform their workforce to become digitally flexible and agile. The HR panel at ETBFSI Converge discussed the impact on the workforce with digitization, automation, and emergence of fintechs. Constraint: The mother of Innovation and changeRajkamal Vempati, Head HR, Axis Bank, says that the interface of man and […]

Banks are catalysts of economic revival: Sitharaman

The initiative provides convenience of banking services to customers at their doorstep through the universal touch points of call centre, web portal or mobile app.