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Presently the Banking Ombudsman Scheme 2006 (As amended up to 1 July 2017) is in operation. [1] From 2002 until 2006, around 36,000 complaints have been dealt by the Banking Ombudsmen. There are 22 regional offices of Banking Ombudsmen in India. The latest offices are opened in Jammu, Raipur, Mumbai-II & New Delhi-III. [citation needed]
Business Standard is an Indian English-language daily edition newspaper published by Business Standard Private Limited, [4] also available in Hindi.Founded in 1975, the newspaper covers the Indian economy, infrastructure, international business and trade, information on financial quotations, corporate governance, and a range of other financial news, opinions and insights.
Every year, the institute organizes an international conference in an area of relevance to the institute. The conferences are intended to promote an exchange of the latest knowledge, experiences, research findings and technical know-how in information technology and its application in the Indian banking and financial sector.
Federal Bank is recognised at the IBA 19th Annual Technology Expo & Citation 2022-23 as the Best AI & ML Bank. The Bank also emerges as runner-up in Digital Engagement and received a special mention for driving Financial Inclusion. [31] Federal Bank is the winner of 'Best Bank in Fintech Initiative' at the Business Today Banking & Economy ...
Outlook was first issued in October 1995 with Vinod Mehta as the editor in chief. [7] It is owned by the Rajan Raheja Group. [3] The publisher is Outlook Publishing (India) Pvt. Ltd. [8] It features contents from politics, sports, cinema, and stories of broad interests.
Paytm Payments Bank and Airtel Payments Bank together command over 88% of the deposits in payment banks in India in 2018. According to the Reserve Bank of India's report on ‘Trend and progress of Banking in India 2017-2018', the payment banks reported losses in the financial year 2017-2018, after a weak performance in the FY 2016-17. [14]
The Punjab National Bank Fraud Case relates to fraudulent letter of undertaking worth ₹12,000 crore (US$1.4 billion) issued by the Punjab National Bank at its Brady House branch in Fort, Mumbai; making Punjab National Bank liable for the amount. [1] The fraud was allegedly organized by jeweller and designer Nirav Modi.
The banking sector, handling 80% of the flow of money in the economy, needed serious reforms to make it internationally reputable, accelerate the pace of reforms and develop it into a constructive usher of an efficient, vibrant and competitive economy by adequately supporting the country's financial needs.