28.08.2023 : Today's Banking / Financial News at a Glance
Countries can learn financial inclusion from India and move much faster: SBI chairman Dinesh Kumar Khara : India has leapfrogged over the last decade, and other countries can learn from the financial inclusion model and move much faster, said Dinesh Kumar Khara, SBI Chairman, on Thursday. “If you look at it in our country, I think it's a lesson for all of the globe on how the payment system could be so efficient, cheap and economical,” Khara said in an exclusive interview with ET on the sidelines of B20 Summit organized by CII in New Delhi. Khara noted that if Jan Dhan had been a pure vanilla account, people would not have shown so much interest in the scheme and it is the addition of services which has given it nuance. - economci times
Central Bank may raise ₹1,500 cr via bonds next week : Central Bank of India is likely to raise up to ₹1,500 crore through the issuance of tier-2 bonds next week.The state-owned bank's bond issue is likely to have a base size of ₹500 crore and a greenshoe option of ₹1,000 crore, with bidding for the sale expected to take place on August 29, sources said. The bonds are likely to be of 10-year maturity. In April-June, Central Bank posted a net profit of ₹418 crore, 78% higher year-on-year. - economic times
Karur Vysya Bank strengthens branch network : Private sector Karur Vysya Bank strengthening its footprint has inaugurated 10 new branches in the Southern region, the Tamil Nadu-based bank said on Saturday. The bank has inaugurated six new branches in Tamil Nadu, two in Andhra Pradesh and one each in Telangana and Karnataka respectively. With the inauguration of new branches, the total branch network increased to 822, a bank statement said. - economic times
Govt considers raising retirement age for PSU bank chiefs by 2 years : The government is considering increasing the retirement age of the managing directors (MDs) and chief executive officers (CEOs) of public sector banks by two years, people familiar with the development said. The retirement age of the State Bank of Bank India chairman could also increase to 65 from 63, said one of the persons. The move will favour the current SBI chairman Dinesh Khara, who will assume the age of 63 next year. Khara is yet to get an extension, as his three-year term ends in October.- economic times
Govt calls meeting of states, bank officials on 'PM Vishwakarma' on Monday : The government has called a meeting of senior officials from states, public sector banks and State Level Bankers Committee (SLBC) on Monday, to discuss the implementation of the Rs 13,000 crore 'PM Vishwakarma' scheme, which seeks to support traditional artisans and craftsman. The scheme, which would be launched on September 17, would be implemented by three ministries -- MSME, Skill Development and Finance. The target is to enroll as many as 3 lakh beneficiaries in the current fiscal, an official said. "The Skill Ministry has called a meeting on August 28, in which principal secretaries of states, managing directors of banks, and SLBC representatives have been invited. - economic times
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FDI equity inflows dip 34% to $10.94 bn in April-June : Foreign direct investment (FDI) into India dipped by 34 per cent to $10.94 billion during April-June period this fiscal year, according to the Department for Promotion of Industry and Internal Trade (DPIIT). FDI inflows stood at $16.59 billion during April-June 2022-23, the data from DPIIT showed. According to the data, FDI dipped from countries including Mauritius, Singapore, the US and the UAE during April-June 2023-24. - economic times
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