Category: Banking

IDBI Bank has recently enabled a new feature of document embedding with LC/BG (Letter of Credit/Bank Guarantee) messages over the SFMS(Structured Financial Messaging System) platform of IFTAS using the intermediate application i@Connect-SFMS. Also, IDBI is the first bank to enable this banking feature. Benefits of IDBI Bank’s New Document Embedding Feature This new feature of…

Being mindful of the mushrooming of fraudulent banking activities, State Bank of India has decided to improve and secure SBI ATM transactions for its customers. The bank has extended its OTP based cash withdrawal facility for withdrawals of Rs. 10,000 and above, w.e.f 18th September 2020. Earlier, SBI OTP security was furnished for all withdrawals…

The banking sector in India is making crucial changes in banking mechanisms by introducing digital means of accessing financial and non-financial services. Mobile banking and internet banking have undergone a prolific growth with instant payment systems and much more. Top banks in India have launched not just intuitive but also very interactive and innovative mobile…

Indian Banking system is one of the sources that facilities the economy of the country. With time, banking in India has undergone significant transformations and hence there have been several inventions from time to time to support the same. In this article, we will learn about some of the codes introduced for the banking sector…

हिंदी में पढ़े The Union Cabinet approved the merger of 10 public sector banks into 4 entities that have become effective from 1st April 2020. After this merger drive, the number of Public Sector Banks has reduced to 12 which was 27 before 2017.  “The amalgamation is being done so that customers are able to…

Life is uncertain and tough situations can arise anytime. If you want to be prepared financially to face those circumstances, you should plan. With the right preparation and planning, you can prevent a financial crisis from becoming grave and only deal with a temporary setback. Any event like a job loss, illness, market meltdowns, or…

In the wake of the coronavirus outbreak when the entire nation is advised to stay indoors ICICI Bank announced the launch of “ICICIStack”. ICICIStack incorporates comprehensive digital banking services and APIs (Application Programme Interface) that ensure uninterrupted banking experience to its customers. ICICIStack includes almost 500 banking services that cover all the requirements of retail…

After the launch of “ICICI Stack” that continues to facilities several retail customers, merchants, retailers, professionals, startups, e-commerce and companies across the country to continue their banking activities amid coronavirus pandemic, ICICI Bank has now initiated banking services on WhatsApp. This enables ICICI Customers to carry out a number of banking activities from their homes...

COVID-19 has led to a global impact, and the Indian Government has taken some important steps to prevent and contain the spread of the virus. This includes a complete lockdown in the country, which has severely impacted many industries.  However, almost all essential services are functional, including banking. Let’s take a look at what all...

According to the Finance Minister Nirmala Sitharaman, 10 public sector banks are set to be merged into 4.  Merger 1 Indian Bank to be merged with Allahabad Bank. This merger will be India’s seventh-largest public sector bank with a business of Rs.8.08 trillion. Merger 2 Punjab National Bank (PNB), Oriental Bank of Commerce (OBC), and...