Current Affairs - Banking

HDFC Bank, India's largest private sector bank, became the country's first lender to issue an impressive 20 million active credit cards, dominating a quarter of the overall card market. This milestone was achieved on January 16, marking a significant achievement for the bank.

YES BANK has achieved a pioneering feat by being the first Indian bank to execute an export finance transaction on RXIL Global IFSC Limited's International Trade Financing Services Platform (ITFS). This collaboration signifies a significant advancement in digitization and cross-border business for YES BANK.

HDFC Bank, India’s largest private sector lender, is seeking to expand into Singapore and has submitted a banking license application to the Monetary Authority of Singapore (MAS). The specifics of the license type are currently undisclosed.

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.