Current Affairs - Banking

The Reserve Bank of India (RBI) has granted its approval for the voluntary amalgamation of Twin Cities Co-operative Urban Bank Ltd with Kranti Co-operative Urban Bank Ltd.

A Committee of Directors on Raising Capital Funds approved the raising of funds for an amount not exceeding Rs 5,000 crores through the issue of equity shares through Qualified Institutions Placement (QIP), Union Bank stated in a regulatory filing.

Ravi Kapoor will retire as Banking, Capital Markets and Advisory (BCMA) Head for South Asia and India after working with the group for 18 years. K Balasubramanian will take over the role of BCMA Head for South Asia and India, in addition to his current Corporate Bank Head role.

YES Bank introduced its state-of-the-art mobile banking application named 'iris' to redefine digital banking for its customers.

Axis Bank, one of the largest private sector banks in India has launched 2 lending products Kisan Credit Card (KCC) and unsecured Micro, Small & Medium Enterprises (MSME) loans powered by the Public Tech Platform for Frictionless Credit (PTPFC), introduced by the Reserve Bank Innovation Hub.