NEW AGE CUSTOMERS BUILDING THE DIGITAL CAPABILITIES
Introduction Consumer markets in India are expected to reap the benefit of favorable macroeconomic parameters as well as its demographics. India is one of the youngest major countries globally and has become one of the major flag bearers of development across the globe.
Enhancements to Indo-Nepal Remittance Facility Scheme RBI/2021-22/94
OPEN BANKING IN INDIA
Open banking is defined as the sharing and leveraging of customer-permission data by banks with third-party developers and firms to build applications and services, including for example those that provide real-time payments, greater financial transparency options for account holders, marketing, cross-selling opportunities. Individuals jurisdictions may define open banking differently.
From Internet Of Things To Banking Of Things
Introduction The concept of the 'Internet of Things [IoT]' emerged in the early 1980s when technology started to influence business processes.
The Future Of Artificial Intelligence In Banks
As per the World Economic Forum's latest research, artificial intelligence is already changing the way financial institutions provide more contextualized services to their customers and banking is no exception.
NATIONAL FINANCIAL REPORTING AUTHORITY (NFRA)
Introduction As per section 211(3C) of Companies act 1956, every balance sheet and profit & loss account of the Company shall comply with the accounting standards, as may be prescribed by the Central Government in consultation with the National Advisory Committee on Accounting Standards (NACAS).
FUTURE CONTRACTS IN INDIAN REAL ESTATE MARKET A GAME CHANGER?
Curtains up! Imagine you deciding on buying a house six months down the line and already have arrested the purchase price thereby slaying the ghosts of cost escalations! Seems a fancy thought, but what if it actually happened?
Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit Extension RBI/2021-22/65
PRIORITY SECTOR LENDING - REVAMPED GUIDELINE
To minimize regional disparity in Priority sector credit flow and boost economy to achieve sustainable development goals
(New strategy for NPA Management)
NEW HORIZONS IN MSME FOR ATMANIRBHAR BHARAT
Preface: The Micro, Small & Medium Enterprises have been contributing significantly to the various sectors of the Indian economy. These are said to be the 'Engine of Economic Growth.
RECYCLING OF WASTE ''A NEED AND BUSINESS OPPORTUNITY FOR BANKS ''
Introduction: On 2nd October 2014 'Swachh Bharat Mission was launched through the length and breadth of the country as a National Movement to clean up the streets, roads, and infrastructure of cities, towns, and rural areas.
CERSAI 2.0: A WAY FORWARD
Government of India established the Central Registry of Securitisation Asset Reconstruction and Security Interest of India(CERSAI) to operate and maintain Central Registry functions as per SARFAESI Act 2002.
Bank of Maharashtra conducts 18th Annual General Meeting through Video-conference
Shri. Hemant Tamta Executive Director; Shri A.S. Rajeev, MD & CEO & Shri. A. B. Vijayakumar, Executive Director, Bank of Maharashtra are seen addressing the 18 th AGM of BoM through Video-conference.
ICICI Bank extends instant ‘Cardless EMI' for online shopping; enhances affordability of customers
ICICI Bank today announced that it has introduced the instant ‘Cardless EMI’ facility to online purchases made on e-commerce platforms.
The recent failures of LVB, Yes Bank and PMC have underlined the need for managing banks professionally at all levels from the counter clerk to the manager.
Opportunities And Challenges Of Blockchain For E-Voting
Introduction The persistent pandemic has forced every industry to innovate their use of technology and find new ways of running the business with minimum disruption. Challenges with conducting elections during these uncertain times are not any exception.
Pillar Of Financial Inclusion Microfinance
Access to conventional banking by all is the agenda of government and financial watchdogs and controller.
Priority Sector Lending (PSL) - On-lending by Small Finance Banks (SFBs) to NBFCMFIs RBI/2021-22/27
PARTICIPATIVE VIGILANCE : THE EYE OF PROVIDENCE
Chanakya has rightly said that Identify traitors before you hunt for the enemies. In 2018, the Punjab National Bank scam hit headlines, it rocked the entire Indian Banking sector as it laid bare the fallacies of the system. It demonstrated that how the presence of very few unscrupulous officials in a Bank can wreak havoc and hollow out the insides of a system like termites. Modernisation of Banking systems and the introduction of computers over the last two decades has increased accountability and put in place a system of checks and balances.
INCOTERMS® 2020 - AN EFFECTIVE TOOL TO REDUCE INCONSISTENCIES IN GLOBAL TRADE
INCOTERMS® is an acronym derived from international commercial terms. These standard trade terms listed under INCOTERMS® provide a universal meaning to buyers and sellers around the world.
Export-Import Bank of India, on behalf of the Government of India, extends a line pf credit of USD 108.28 Millon to the Government of the Kingdom of Eswatini (Swaziland)
Export-Import Bank of India [Exim Bank] has, on behalf of the Government of India, extended Line of Credit [LOC] of USD 108.28 million to the Government of the Kingdom of Eswatini (Swaziland) for construction of a new Parliament building in Eswatini.
ETHICS IN BUSINESS AND CORPORATE GOVERNANCE
Ethics is quite old as a subject but in recent years ethics and ethical behaviour in business have emerged as a topic of interest due to misgovernance in corporate houses and banks despite having a well laid governance structure in place with checks and balances in systems and procedure. This is attributed to lack of ethical behaviour and culture.
BANKING CYBER DEFENCE TRENDS TO PROTECT CUSTOMER INTERESTS
Brief Introduction: The face of banking system has been changed to unexpected levels with the innovations of technology and adopting the same by Banking industry to provide most convenient banking to their valued customers on 24*7*365 basis.
ICICI Bank links UPI ID facility to its ‘Pockets' digital wallet
ICICI Bank announced the launch of a unique facility of linking a UPI (Unified Payments Interface) ID to its digital wallet ’Pockets’, marking a departure from the current practice that demands such IDs be linked with a savings bank account. New users, including those who are not customers of ICICI Bank, can now instantly get a UPI ID, which is automatically linked to ‘Pockets’.
Bank of Maharashtra organises ‘Covid Vaccination Drive' for the Front Liners
Mr. A. S. Rajeev, Managing Director & CEO, Bank of Maharashtra (BoM) inaugurated two days ‘Covid Vaccination Drive’ for front line employees of the Bank at MES Balshikshan Mandir, Mayur Colony, Pune. Mr. R. S. Bansal, General Manager, HRM, Head Office along with Mr. Rajesh Singh, Mr. Jatin Desai & Mr. Vivek Dhawan, Zonal Managers of Pune City Zone, Pune West Zone & Pune East Zone respectively were present in the function.
AGENCY FOR SPECIALIZED MONITORING (ASM) A TOOL FOR MONITORING OF BIG BORRWAL ACCOUNTS
Introduction: The Govt. of India has introduced several governance reforms, in order to keep a watch on fraudulent activities and to prevent diversion of funds, has introduced the Agencies for specialized monitoring mechanism, under the ASM banks will now appoint specialized monitoring agencies to closely track the activities of the borrower including purchases, invoices, actual production vis-à-vis projection, high value transaction, payments, cash inflow and cash outflow. The move to appoint an external agency to monitor loans comes in the backdrop of banks reporting a 72 per cent year-on-year jump in frauds at Rs. 41,168 crore in FY2018, against Rs. 23,934 crore in FY2017 and cases of fraud at banks and financial institutions increased 28% in volume terms during financial year 2020 as per RBI's annual report.
Align Talent With Business In Banking Industries
Developing talent is business's most important task - the sine qua non of competition in a knowledge economy. - Peter Drucker
Neo bank is a kind of digital bank without any branches. Neo bank has no physical presence at any location but provides services online i.e. digital or mobile or through any other mode online.