MARCH

BANKING AWARENESS

Ø  Swiggy Partners with ICICI Bank

Ø  Online Food ordering and delivery platform Swiggy has partnered with the country’s largest private sector lender ICICI Bank to roll out two digital solutions to facilitate the transfer of funds for its delivery partners.

Ø  Axis Bank opens Representative Office in Sharjah

Ø  Axis Bank had opened a representative office in Sharjah. The representative office is the third such Axis Bank office in the UAE after Dubai and Abu Dhabi. The UAE has the largest NRI community in the world, with a diverse population base of approximately 3.3 million NRIs.

Ø  Yes Bank launches a digitised trade finance solution

Ø  Yes Bank has launched a robotics based ‘Digital export Import’ payments solution as a part of its Yes Transact Smart Trade product suite. The integrated product uses robotics process automation and helps in eliminating the requirement of documents submission for import and export payments.

Ø  ICICI Bank launches online overdraft facility

Ø  ICICI Bank has launched instant overdraft ‘InstaOD’ facility for MSME (Micro, Small and Medium Enterprises) customers in a completely online and paperless manner. Customers can get overdraft facility up to Rs 15 lakh for a year anytime, anywhere using the bank’s Internet and mobile banking app.

Ø  SBI reduces charges on non-maintenance of minimum balance

Ø  SBI has slashed charges for non-maintenance of Average Monthly Balance (AMB) in savings accounts by nearly 75 percent. The revised charges will be effective from April 01, 2018 and will benefit over 25 crore customers. The charges for non-maintenance of AMB for customers in Metro and Urban centers have been reduced from a maximum of Rs 50 per month to Rs 15 per month. Similarly, for Semi-Urban and Rural centers, the charges have been reduced from Rs 40 every month to Rs 12 and Rs 10 GST charges will be applicable over and above the rates specified above.

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