Current Affairs - Banking

The Bank of Baroda has introduced the Bob Earth Green Term Deposit Scheme to gather funds for eco-friendly projects, demonstrating its commitment to supporting green initiatives and fostering a sustainable economy.

Aurionpro Solutions has partnered with SBI for its transaction banking platform, iCashpro+. This significant deal, valued at nearly Rs 100 crore, involves the license, implementation, and support of the cash management platform over a phased delivery period of 12 months, followed by maintenance.

IndusInd Bank collaborated with Mastercard to introduce 'Indus PayWear,' offering tokenised wearables for debit and credit cards. This collaboration aims to enhance payment flexibility, convenience, and security for users, providing various wearable options and ensuring swift and secure transactions globally.

Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI) to promote the utilization of local currencies, namely the Indian Rupee (INR) and Indonesian Rupiah (IDR), for cross-border transactions.

As of March 4, 2024, 30 banks have joined RBI's UDGAM portal for unclaimed deposits, covering approximately 90% of the unclaimed deposits in the DEA Fund. This initiative aims to provide a centralized platform for individuals to search for their unclaimed deposits/accounts across multiple banks.