Category: Banking

Public sector banks to come out of PCA framework by end of 2018: Government

The government expects the public sector banks to come out of the Prompt Corrective Action (PCA) framework by the end of this year and will provide them adequate capital when required, Department of Financial Services Secretary Rajiv Kumar said. He said public sector banks’ operational performance has improved in the April-June quarter, with steep reduction

NPCI launches UPI 2.0 with overdraft facility

The National Payments Corporation of India (NPCI) has launched Unified Payments Interface (UPI) 2.0, which among others allows customers to link their overdraft account to UPI, creation of one-time mandates and pre-authorisation of transactions for payment at a later date, and checking the invoice sent by merchant prior to making payment. UPI is a system

Blockchain: Exim Bank signs MoU with BRICS development banks

Exim Bank of India has signed a multilateral cooperation agreement with member development banks of BRICS to undertake “collaborative research” in distributed ledger/blockchain technology. The MoU was an outcome of the discussions the member development banks had during their annual meeting, with the objective of strengthening the cooperation under the BRICS Interbank Cooperation Mechanism. Under