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NEW DELHI: Private sector Yes Bank has received another round of $150 million in funding from the US government and Wells Fargo to fund SME lending.

This is the third round of funding as part of an arrangement between the Overseas Private Investment Corporation (OPIC) — a US government development finance institution — and Wells Fargo, to increase lending to small and medium enterprises in India.


UIDAI asks banks to open Aadhaar enrolment centres on premises

NEW DELHI: The Unique Identification Authority of India (UIDAI) has asked private and public sector banks to set up an Aadhaar enrolment facility in at least one out of 10 branches in the coming weeks, a top official has said.

Suitable changes have been made recently in Aadhaar regulations to facilitate this.

There are 25,000 active enrolment centres across the country, but they operate from their premises. However, none of these centres are being operated from bank premises.



Demonetisation has brought the nation 3 years ahead in digital payments: SBI Eco flash

NEW DELHI: Demonetisation has helped the nation leapfrog three years ahead in digitisation. This trend is also expected to lower inflation, according to a report by State Bank of India’s research department.

While combined debit and credit card transactions through POS (point of sales) between April 16 and April 17 rose 88%, transactions through various prepaid instruments – mobile wallet, PPI cards, and paper vouchers- and mobile banking rose 122% in the same period.


SBI waves charge on IMPS fund transfers of up to Rs 1,000

NEW DELHI: The Country’s largest bank SBI has waived charges for fund transfer of up to Rs 1,000 through its IMPS (Immediate Payment Service) to promote small transactions.

State Bank of India had been charging Rs 5 along with the applicable service tax for IMPS fund transfers of up to Rs 1,000.

IMPS is an instant interbank electronic fund transfer service through mobile phones as well as Internet banking.

To promote small ticket size transactions, SBI has waved off IMPS charges for transfers up to Rs 1,000, the bank said while informing about the revised IMPS transfer charges under the Goods and Services Tax (GST) regime.

For IMPS, the charge will be Rs 5 along with GST for fund transfers in the range of Rs 1,000 to Rs 1 lakh. The charge will go up to Rs 15 for transactions of Rs 1–2 lakh.





People living in chawls, and dingy rooms are directors in Nakshatra, Gili India


The directors are ordinary employees and small-time retail investors who were persuaded by Gili, Nakshatra and Gitanjali to serve as top company members on paper. Some of the so-called directors have barely enough money to support their families.                                 




Sebi asks HDFC to take responsibility for the information leak


Sebi directed HDFC Bank on Friday evening to conduct an internal enquiry and take responsibility on the people
who had leaked parts of its quarterly results through WhatsApp messages to stock traders and others.