Banking Current Affairs
Union Bank of India Launched Electronic Secured Bank treasury Receipt
- The Union Bank of India on May 26, 2016 launched e-SBTR (Electronic Secured Bank Treasury Receipt), a facility for a single window payment facility of both stamp duty and registration fee for home purchase in Maharashtra.
- e-SBTR allows payment without any ceiling and is available on 24x7x365 through internet banking. It initially starts in Maharashtra across 508 bank branches of the Bank and will be soon expanded to other Spates.
- The facility, makes it possible to do the necessary paper work and formalities on line and get the endorsement of the final document at the branch level at one go and provide convenience of home buyers as the systems does away with the requirement of standing in queues to pay stamp duty and registration of property purchase.
Five Associate Banks to Merge with SBI
- The State Bank of India (SBI) on May 17, 2016 started the process to merge its five associate banks and also to merge Bharatiya Mahila Bank (BMB).
- While, the BMB was created in 2013 by the UPA government, particularly to cater to women’s lending needs based in Delhi.
- The Banks to be merged with the SBI are
- State Bank of Bikaner and Jaipur
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- Bharatiya Manila Bank Limited
- ICICI Launched Country’s First Contactless Credit Cara
- ICICI Bank in association with Jet Airways on May 12, 2016 launched the country’s first ‘contactless’ credit cards for small and I mid-sized enterprises and their employees.
- The card debuted Jet Airways ICICI Bank Business Advantage Card the co-branded I credit card will help customers to save on I their business expenses.
- It is the first bank globally to offer a dual I advantage reward programme on the expenses and repayments of the credit card.
