Current Affairs - Banking

Setu, owned by Pine Labs, has launched the UPISetu platform in collaboration with Axis Bank. UPISetu is designed to enhance the UPI payment ecosystem, offering a range of services such as QR code payments, Autopay, EMI options, and Third-Party Validation. The partnership with Axis Bank underscores the bank's commitment to advancing digital payment solutions and supporting the digitization efforts of businesses in India.

Tan Su Shan has been appointed as the first female CEO of DBS, set to take over in March 2025. With 35 years of experience in banking, including leadership roles at Morgan Stanley and Citigroup, Tan’s appointment marks a significant milestone for DBS. She is the first "homegrown" leader to succeed the outgoing CEO Piyush Gupta, reflecting the bank's commitment to continuity and internal talent development.

Tata Power Solar Systems Ltd has partnered with the Bank of India to offer financing solutions for rooftop solar installations and EV charging stations. This collaboration makes Bank of India the first bank to partner with Tata Power Solar in these financing areas. The partnership supports various government initiatives aimed at promoting rooftop solar installations, such as the PM Surya Ghar Yojana and the National Solar Mission, thereby advancing both renewable energy adoption and electric vehicle infrastructure.

Karnataka Bank has partnered with ICICI Lombard General Insurance to provide its customers with a diverse range of insurance products, including health, motor, travel, and home insurance. This strategic collaboration aims to address the various insurance needs of individuals and businesses. The partnership also focuses on digital insurance solutions, offering online policy purchases, real-time claims processing, and personalized advisory services to enhance customer convenience and provide best-in-class insurance solutions.

IndusInd Bank has launched the 'Wrestle for Glory' program in collaboration with the Inspire Institute of Sport (IIS) as part of its CSR initiative. This program is designed to empower 50 talented female wrestling athletes from across India by providing them with coaching at the IIS facility on fully-funded scholarships. The initiative is part of the 'IndusInd For Sports' vertical, which aims to promote inclusivity and excellence in sports, emphasizing the participation of individuals from diverse backgrounds, including different genders, persons with disabilities, and underprivileged communities.