Correct Answer : State Bank of India
The State Bank of India (SBI) has taken a significant step in driving financial innovation and digital transformation by launching the 'SBI Innovation Hub' in partnership with APIX at the Singapore Fintech Festival.This initiative provides a dedicated space for global FinTechs, startups, and innovators to create next-generation financial solutions catering to SBI's diverse customer base. The hub offers access to over 250 financial service APIs, a sandbox environment, and opportunities for collaboration, hackathons, and strategic partnerships. This move underscores SBI's commitment to financial inclusion, customer-centric solutions, and its vision for digital transformation.
Correct Answer : Deutsche Bank
Deutsche Bank has demonstrated its long-term commitment to India with a significant ?5,113 crore capital infusion, marking the largest in recent years. This investment boosts its regulatory capital to ?30,000 crore, a 33% increase from 2023. The bank aims to leverage India's strategic position in global trends like digital transformation and infrastructure development to drive future growth. Deutsche Bank's capital base in India has tripled over the past decade, underscoring the country's importance in its global growth strategy. This infusion will fund growth and expand services across corporate, investment, and private banking.
Correct Answer : Asian Development Bank
The Asian Development Bank (ADB) has sanctioned a $200 million loan to improve urban infrastructure in Uttarakhand.The project aims to enhance water supply, sanitation, urban mobility, drainage, and flood management in Haldwani, as well as upgrade water supply delivery in four other cities. This loan demonstrates ADB's commitment to supporting India's urban development goals, focusing on sustainable and inclusive growth. The project will benefit residents and businesses in Uttarakhand by promoting better living standards and economic opportunities. ADB's funding will play a crucial role in transforming the state's urban landscape.
Correct Answer : IDFC FIRST Bank
IDFC FIRST Bank has pioneered the introduction of real-time tracking for cross-border payments in India, utilizing Swift GPI technology. This innovative service enables customers to track international money transfers seamlessly through the bank's Mobile App and Internet Banking platforms. By providing transparency and convenience, IDFC FIRST Bank enhances the customer experience, making international transactions as trackable as domestic UPI or IMPS payments. This move underscores the bank's commitment to leveraging technology for improved customer satisfaction and efficiency in banking services.
Correct Answer : IndusInd Bank
IndusInd Bank has collaborated with Tata Power Renewable Energy Limited to offer collateral-free solar financing solutions to Micro and Small Enterprises (MSEs) in India. This partnership aims to promote sustainability, reduce operational costs, and facilitate easy access to solar energy financing for MSEs. The bank will provide loans ranging from ?10 lakhs to ?2 crores with competitive interest rates and flexible repayment terms of up to seven years. This initiative reflects IndusInd Bank's commitment to integrating environmental, social, and governance (ESG) factors into its operations and promoting sustainable finance practices.
Correct Answer : DBS Bank
DBS Bank India has been named one of the Best Companies for Women in India (BCWI) 2024 for an impressive ninth consecutive year. This recognition, conferred by Avtar and Seramount, places DBS Bank in the esteemed "Best Companies - Hall of Fame." The bank's commitment to gender diversity and inclusion is evident in its goal to increase female representation in its workforce from 31% to 35% over the next three years. DBS Bank's Diversity, Equity, and Inclusion (DEI) Council and DEI Champions drive this initiative, fostering a supportive and inclusive work environment.
Solex Energy has collaborated with the State Bank of India (SBI) to facilitate financing for solar projects aimed at commercial, industrial, and institutional clients. Under the Surya Shakti Solar Finance Scheme, SBI will provide loans up to ?10 crore, helping to make solar energy more affordable and accessible. This partnership will allow Solex Energy to expand solar solutions by supporting clients with site assessments, design, and approvals, while SBI ensures a streamlined loan application process via its digital platform, enhancing solar adoption in India.
Correct Answer : Slice
Slice, a fintech firm, has successfully merged with North East Small Finance Bank, integrating its operations, assets, and brands. Approved by the Reserve Bank of India (RBI), this merger aims to enhance customer experience, introduce new banking products, and strengthen banking services in India's northeastern region. The combined entity will offer savings accounts, credit services, and other banking products, leveraging the strengths of both organizations. Slice's CEO, Rajan Bajaj, emphasized the importance of exceptional customer experience and strong governance in the merged entity.
Correct Answer : State Bank of India (SBI)
State Bank of India (SBI) was recognised as the Best Bank in India for 2024 by Global Finance Magazine of the US at its 31st Annual Best Bank Awards event held during the sidelines of Annual Meetings of the IMF and the World Bank in Washington.SBI Chairman CS Setty received the award in recognition of the bank's unwavering commitment to providing exceptional services and promoting financial inclusion nationwide by winning the trust of its customers, the bank said in a statement.For decades, Global Finance's Best Bank Awards have set the trusted standard for evaluating the world's financial institutions, making them invaluable to corporate decision-makers, especially as the global economy faces significant challenges..Source : Mint
Correct Answer : HDFC Bank
HDFC Bank has opened its first branch in Singapore, marking its expansion in international operations after receiving a wholesale banking license from the Monetary Authority of Singapore (MAS) effective 15th October 2024. The branch was inaugurated by Rakesh Singh, Group Head of International Banking. With this addition, HDFC Bank now operates five international branches, including those in Hong Kong, Bahrain, and Dubai, and an IFSC Banking Unit in Gujarat International Finance Tech City (GIFT City). The new branch will further strengthen the bank's global presence and enhance its international banking services..Source : Nasdaq
