Current Affairs - Banking

Karnataka Bank and Clix Capital have collaborated digitally on the Yubi Co.lend Platform to adhere to RBI guidelines, with a specific focus on supporting India's vital MSME sector, contributing to the country's GDP and employment growth.

Yes Bank's introduction of SmartFin, a digital Supply Chain Finance platform with Veefin Solutions, highlights its commitment to supporting Micro, Small, and Medium Enterprises (MSMEs) and advancing innovation in working capital management. This strategic move reflects Yes Bank's dedication to enhancing digital offerings and reinforcing its role in fostering MSME support.

The State Bank of India (SBI), the largest bank in the country, introduced the SBI Green Rupee Term Deposit (SGRTD) to accumulate funds dedicated to environmentally-friendly projects. This initiative aligns with the government's goal of achieving net carbon neutrality by 2070, contributing to the development of a green finance ecosystem in India.

IndusInd Bank, in partnership with National Payments Corporation of India (NPCI), has introduced the UPI-enabled 'Samman RuPay Credit Card,' specifically designed for government sector employees. This initiative aligns with recent RBI permissions allowing RuPay credit cards to integrate with UPI payment applications.

Power Finance Corporation (PFC) obtained RBI approval to set up a finance company in Gujarat’s GIFT City, resulting in a nearly 1% surge in its shares.