CATEGORIES

RBI CIRCULAR

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.

Roadmap For Agricultural Sector In India

Agriculture is the backbone of the Indian economy as it provides livelihood to a large section of the population.

RBI CIRCULAR

RBI CIRCULAR

NEO BANK

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.

ZED SCHEME FOR MSMES

This scheme is an extensive drive to create proper awareness in MSMEs about the Zero Defect Zero Effect (ZED) manufacturing and motivate the entrepreneur for assessment of their enterprises for ZED and support them.

ICICI Bank and PhonePe partner to issue FASTag

ICICI Bank and PhonePe today announced their partnership for the issuance of FASTag using UPI on the PhonePe App.

INTERNAL RATING BASED APPROACH: A TOOL IN CREDIT RISK MANAGEMENT

Credit Risk is defined as a potential risk that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms.

EMPOWERING MSMES: TAKING THE MERCHANT ONBOARDING PROCESS DIGITAL

Onboarding a merchant in less time with proper due diligence has always been the prime objective for every acquirer in the market. The conventional process of onboarding merchants is complicated. It is time-intensive and could require a lot of back and forth with pages and pages of paperwork.

BUT COOPERATIVES MUST SUCCEED

Basic challenge to the present century-old cooperative financial institutions in our country, as rightly indicated in one of the study reports, is to strike a balance between attaining profitability by running their business on commercial lines on one hand and carrying out their service-oriented activities under the well-conceived principles of coveted 'co-operative movement', on the other. Probably, this inherent conflict in their functions puts pressure on their efficiency and profitability.

Banking Technology, Fintech and Digital Transformation explored at the 10th Annual Middle East Banking Innovation Summit

The 10th Annual Middle East Banking Innovation Summit returned this week for two full days of panels and keynote presentations exploring the world of banking technology and digital transformation.

System Of Loan Delivery Of Bank Credit And Its Impact

Introduction: Cash Credit Limit is the most popular form of working capital and functions like an overdraft account. A firm which held a certain cash credit limit with a bank would withdraw money from that account whenever they required and repay it back whenever they have received the sale proceeds and pay the interest as per agreed rate of interest. It is true that having this type of credit facility is very useful for firms, but it created some volatility in liquidity management for banks. Many big firms often enjoy substantial cash credit limits but hardly use them, due to this reason banks are not earning any income from that un-utilised limit and at the same time banks are unable to meet the credit requirement of other firms because of lack of liquidity.

(R)Evolution Of Payment And Settlement System In India

Introduction: Payment and settlement systems employed in an economy play a vital role in economic development. These systems basically consist of the various and diverse arrangements that we use to systematically transfer money i.e, currency, paper instruments (such as cheques, drafts) and various electronic channels. When any person or entity enter into economic transactions, i.e. to purchase and sell goods or services, the value thereof needs to be settled by money or currency.

Marketing: A Practical Perspective For Field Units

'Business has only two basic functions marketing and innovation.'- Peter Drucker

HR: The Life Line Of Indian Banking Sector

Introduction The Human Resource has always served as a backbone of the Indian Banking system. The various aspects of Human Resource management flow as a blood to keep up the proper functioning of the Indian Banking sector alive. Banking sector plays a key in the development of Indian economy.

Cyber Security, Its Importance In Banking And Precautions

Cyber Security has become a major requirement for all the individuals and organisations that are doing any of the activity related to IT (Information Technology), as there is a major threat from various sources involved in cyber crime. Cyber Security provides the protection from any damage to software, hardware, network or electronic data from such external sources.

Training Programme at HUDCO organised by DoPT

The Housing & Urban Development Corporation Ltd is organizing a week-long in-service training programme for All India Service Officers from 22nd-26th February, 2021, through its Research and Training wing (Human Settlement Management Institute). The programme sponsored by Department of Personnel & Training, Govt of India on 'Cities of Tomorrow- Equitable, Sustainable and Resilient'aims to sensitize the officers towards sustainability, equity and disaster risk reduction in cities to meet future challenges.

HUMAN RESOURCE DEVELOPMENT (HRD)

HRD encompasses a humanistic concept and believes that employees who are the pillars of any organisation can do wonders provided they are involved in the job, entrusted with roles and responsibilities, should be made aware of their strength and provided with assistance to overcome their weaknesses. Employees being part and parcel of any organisation, their needs and aspiration should be aligned with the goals and mission of the organisation and only then the organisation would be successful in all domains and achieve the desired results.

RBI CIRCULAR

Risk-Based Internal Audit (RBIA)

PhonePe partners with Axis Bank on UPI Multi-Bank

PhonePe, India’s leading digital payments platform, today announced that it has partnered with India’s third-largest bank, Axis Bank on UPI multi-bank model giving its users the option to create and use multiple UPI IDs with Axis Bank’s “@axl” handle.

Cheque clearance process all set to get faster thanks to CTS

To expedite the process of clearance of cheques, the RBI has announced bringing all bank branches under the Cheque Truncation System (CTS). Also, the apex bank wants to centralize the digital payment helpline to address consumer grievances.

DEBT SECURITIZATION: THE PROCESS TO UNDERSTAND

.

Resolution Framework For Covid-19 Related Stress For Personal Loans

Introduction: The Coronavirus pandemic has shattered the dreams of millions of Indians. India's economy, which was growing rapidly, has fallen flat. Tens of millions of people were coming out of poverty, megacities were being erected, India's strength was increasing and it was poised to become an economic superpower. Due to slowdown in the economy which was triggered by the impact of COVID-19 pandemic, some employees had either lost their job or working on reduced salaries thereby triggering a problem of serving of their EMIs.