India’s Dinesh Sharma has been elected to the board of directors of the China sponsored Asian Infrastructure Investment Bank (AIIB). He has been elected to the 12-member board through a secret ballot. This is the first board of directors of AIIB in which 57 nations are founding members including India.
India’s largest lender, State Bank of India (SBI) has launched dedicated specialized branch for start-ups called ‘SBI InCube’ in Bengaluru, Karnataka. It was announced by BI Chairman Arundhati Bhattacharya in Bengaluru, Karnataka.
India’s largest private sector lender ICICI Bank has partnered with FINO PayTech to foray into the payments bank space.
Andhra Bank has launched Immediate Payment Service (IMPS) at all its branches across the country to provide inter-bank electronic fund transfer service.
Reserve Bank of India (RBI) has imposed a monetary penalty of one crore rupees on State Bank of Travancore, an SBI associate bank for violation of some of its instructions.
The Union Cabinet, presided by Prime Minister Narendra Modi approved the Hydrocarbon Exploration and Licensing Policy (HELP).
Indian Railways appointed Ernst & Young (EY) as a consultant to discover the advertising potential in trains and railway stations. The move aims at enhancing revenue through non-fare box route.
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