General Trading Chat

I don't know what to make of this news.

India Post Payments Bank to be converted into small finance bank
1 min read . Updated: 01 Aug 2019, 12:56 PM ISTPTI
  • The postal department looks to open one crore accounts for IPPB in 100 days
  • India Post will partner with Common Service Centre to provide a suite of citizen centric services
https://www.livemint.com/industry/b...ed-into-small-finance-bank-1564642661411.html
 

soft_trader

Well-Known Member
https://www.livemint.com/industry/b...king-services-in-india/amp-1564668330178.html

RBI allows Bank of China to offer regular banking services in India

Mumbai: The Reserve Bank of India (RBI) on Thursday allowed Bank of China to offer regular banking services in the country. All commercial banks, like SBI, HDFC Bank, Punjab National Bank and ICICI Bank, are in the Second Schedule. Banks falling under this schedule have to adhere to the norms of the RBI.

"We advise that the 'Bank of China Limited' has been included in the Second Schedule to the Reserve Bank of India Act, 1934...," the central bank said.

In another notification, the RBI said 'Jana Small Finance Bank Limited' too has been included in the Second Schedule.

Further, the name of 'The Royal Bank of Scotland plc' has been changed to 'NatWest Markets Plc' in the Second Schedule.

Meanwhile, 'National Australia Bank' has ceased to be a banking company within the meaning of the Banking Regulation Act, the RBI said and added that it has been excluded from the Second Schedule.
 

Similar threads