Current Affairs - Banking

Poonawalla Fincorp Limited has collaborated with IndusInd Bank to introduce the co-branded ‘IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card’. This credit card offers various rewards, benefits, and perks to enhance customer experience, without any joining or annual fees.

Bank of Maharashtra stood out among public sector banks in FY24 with significant business growth and deposit mobilization. It recorded a remarkable 15.94% rise in total business and a notable 52.73% growth in low-cost CASA deposits, highlighting its strategic advantage and effective cost management strategies.

'Surety Bond Bima' is designed specifically to provide security for infrastructure projects, safeguarding both contractors and principals from breaches during bidding and performance stages, thus supporting infrastructure development initiatives.

State Bank of India (SBI) became the first bank to become a Trading cum Clearing (TCM) Member at India International Bullion Exchange (IIBX). This allows SBI's IFSC Banking Unit (IBU) to trade on the IIBX platform and act as a trading member and clearing member for importing gold through the bullion exchange, enhancing transparency and efficiency in India's Bullion Market.

HDFC Bank launched Pixel Play, the first virtual credit card in India in partnership with Visa. This innovative card offers personalized benefits and seamless digital management through the PayZapp mobile app, setting a new standard for banking experiences in the country.