Good Morning All.... ☕ 17.10.2020: Today's Banking / Financial News at a Glance 🍒 RBI to conduct auction of State Development Loans on October 22 : The Reserve Bank of India on Friday said it will conduct the first ever purchase auction of State Development Loans (SDLs) under Open Market Operations (OMOs) for an aggregate amount of ₹10,000 crore on October 22. The central bank said the purchase auction amount has been kept at ₹10,000 crore, keeping in view that this is the first ever OMO purchase of SDLs. Depending on market response, the size of the auctions may be enhanced in the subsequent auctions, it added. - Business Line 🍒 Rajkiran Rai elected IBA chief : The Managing Committee of the Indian Banks’ Association (IBA), at its meeting held on Friday, elected Rajkiran Rai G, Managing Director and CEO, Union Bank of India, as the Chairman of the Association for the term 2020-21. Dinesh Kumar Khara, Chairman, State Bank of India, was elected as Deputy Chairman of th...
Good Morning ☕ 21.10.2020: Today's Banking / Financial News at a Glance 🍒 Bank of Baroda ties up with Toyota Kirloskar Motor : Bank of Baroda (BoB) has entered into a tie-up with Toyota Kirloskar Motor (TKM), whereby the bank will be one of the preferred financiers for the entire range of vehicles sold by the latter. India’s third-largest public sector bank, in a statement, said that under the tie-up, customers can avail customised solutions such as high on-road funding of 90 per cent, long repayment period of 84 months, no prepayment or foreclosure charges. On the other hand, TKM dealers will benefit from ‘digitised supply chain finance’ with competitive interest rates.Murali Ramaswami, Executive Director, BoB, said: “This alliance gives us an opportunity to penetrate deep into the relationship with automobile dealers and augment our dealer finance portfolio through our branches spread across the country. “Given the huge potential to cross-sell our other products to these ...
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