Page 6 - Banking Finance February 2021

BANK UPDATE

identified as Domestic Systemically Shaurya Salary Account, which comes membership and concessional access to
Important Banks (D-SIBs). with banking privileges meant for the golf courses, gyms, spas and
The aforementioned banks have been brave hearts of the Indian Army. restaurants, the bank said.
identified as D-SIBs as per the RBI's D- In presence of Lt Gen Harsha Gupta, Additionally, they would be entitled for
SIB framework issued on July 22, 2014. the MoU was signed by Lt Gen Ravin discounted health check-ups with this
The D-SIB framework requires the Khosla, DG, Indian Army, and Chandra National Common Mobility Debit Card
Reserve Bank to disclose the names of Shekhar Ghosh, MD & CEO, Bandhan (NCMC), which also has the unique
banks designated as D-SIBs starting Bank, in New Delhi. Services under feature of facilitating offline
from 2015. Bandhan Bank Shaurya Salary Account transactions in both transit as well as
As part of this framework, these three will be offered to serving personnel of retail purchases.
banks have been prescribed additional Indian Army through the bank's Mohapatra said, 'Central Bank of India
Common Equity Tier (CET) 1 network of banking outlets. is launching two customer utility
requirement as a percentage of their The account will offer a host of products on the occasion of 110th
Risk Weighted Assets (RWAs). features, including zero-balance foundation day of the bank.' The card
The additional CET1 requirement is in facility with 6% interest on balance will also offer airport lounge access to
addition to the capital conservation above Rs 1 lakh, unlimited free ATM over 20 domestic and more than 500
buffer. In the case of SBI, the additional transactions across ATMs, waiver of international lounges along with
CET 1 requirement has been prescribed issuance and annual charge on Shaurya accidental and permanent disability
at 0.60 per cent of its RWAs. Visa Platinum Debit Card and unlimited insurance cover up to Rs 10 lakh.
free NEFT/RTGS/IMPS/DD
In the case of ICICI Bank and HDFC transactions. Asbe said, 'This card is a step ahead by
Bank, the additional CET 1 NPCI to ensure that customers get
requirement has been prescribed at Bandhan Bank Shaurya Salary Account 'select' experience of exclusivity and
0.20 per cent of their respective RWAs. also offers protection for self and superiority with safe as well as hassle-
assets. This includes free personal free contactless payment option.' He
Exim Bank sells bonds of accident insurance of Rs 30 lakh, air added that RuPay Debit Select Card also
accident cover of Rs 1 crore and free adds a new dimension to our RuPay
$1 billion to global educational benefit of up to Rs 1 lakh portfolio and we believe it would act as
investors at dirt rate per year for four years to dependent a change catalyst for the customers to
The Exim Bank has started the New child in case of accidental death of the follow the path of better well-being.
Year on a high note raising $1 billion account holder.
through a dollar-bond sale to Central Bank of India SBI concession on home
international investors, offering just loans
2.25 per cent for the ten-year money, launches contactless debit
setting a new low in pricing. card State Bank of India has raised the
concessions on its home loan interest
The issue was oversubscribed four Central Bank of India said it has rates, a press release issued by the
times or worth $4 billion as against $1 launched contactless 'RuPay Select' bank stated. It is offering home loan
billion on offer, managing director debit card in association with the interest rate starting at 6.8 per cent
David Rasquinha said, adding that in National Payments Corporation of for loan amount up to Rs 30 lakh and
Asia the issue was oversold within India (NPCI). 6.95 per cent for loan amount above
three hours of the launch with the The card was launched by Central Bank Rs 30 lakh depending on CIBIL score.
order book hitting $1.75 billion.
of India MD and CEO Pallav Mohapatra According to an official statement, the
in the presence of NPCI MD and CEO bank is offering discount up to 0.3 per
Bandhan Bank signs MOU Dilip Asbe, at a virtual event on the cent on home loan interest rates based
with Army bank's Foundation Day. on the loan amount and CIBIL score.
Bandhan Bank, has signed an MoU with Users of Central Bank RuPay Select Interest concession up to 0.30 per cent
the Indian Army for the Bandhan Bank Debit Card can avail complementary is also available in eight metro cities for

6 | 2021 | FEBRUARY | BANKING FINANCE