According to the data released by the RBI, India’
banking system reportedtotal deposits of Rs. 100
lakh crore for the first time ever in September month
of this year. With demand deposits crossing Rs.10
Lakh Crore & time deposits crossing the Rs 90 Lakh
Crore Mark, the month saw the highest-ever monthly
rise of Rs 5.32 Lakh crore.
State Bank of Maharashtra has renewed its
corporate agency tie-up with United India Insurance
Company.
Standard Chartered Bank has announced a tie-up with
Uber under which its credit cardholders, across six
countries, will get a cash-back of up to 25 per cent for
hailing cabs from the app.
Jammu & Kashmir Bank appointed Parvez Ahmed as
Chairman & CEO of the bank. He replaced Mustaq
Ahmad.
State Bank of India has became the First Domestic
Bank of India to open 54th foreign branch, in the
capital city of Yangon, Myanmar. Ghanshyam
Srivastava will be the Chief Executive Officer of the
SBI Yangon branch.
State Bank of India (SBI) declared Silchar as its 5th
zone in North-East India. This zone will cater to the
banking needs of the people of Mizoram, Tripura and
Manipur along with the Barak Valley.
RBI's 24th Governor Urjit Patel, who has been
recently appointed, has announced his first &
country's 4th Bi-monthly Policy Statement for the
year 2016-17.
The RBI has reduced the policy Repo
Rate under the Liquidity Adjustment Facility (LAF) by
25 basis points from 6.5 per cent to 6.25 per cent with
immediate effect. Consequently, the reverse repo rate
under the LAF stands adjusted to 5.75 per cent, & the
Marginal Standing Facility (MSF) rate & the Bank Rate
to 6.75 per cent.
Arundhati Bhattacharya will remain the chairperson
of the State Bank of India (SBI) for another year. She
will oversee the merger of 6 smaller commercial
banks into the country's largest lender.
The Centre has appointed R Subramania Kumar as
Executive Director (ED) of Indian Overseas Bank
(IOB).
