Public and Private Sector Banks Awarded at The Times of India Event

In an effort to provide recognition to top banks in Bihar, The Times of India recently held the 'Times Banking Excellence Awards: Bihar 2014-15' at Hotel Panache in Patna, Bihar. This initiative has been taken by the leading newspaper daily to pick out the top performing banks in the state. For overall performance, two awards were given in four different categories and one award each in eight categories during the function. The award recipient names were decided by a jury inclusive of the Reserve Bank of India Regional Director, Mr. Manoj Kumar Verma, Asian Development Research Institute's Founder Member-Secretary Shaibal Gupta and Nabard CGM, Ranjeet Kumar Das.

India’s Leading Mobile Phone Operators Among Companies to Receive Payment Bank License

Among the 11 firms chosen by India’s Central Bank to establish “payment banks”, country’s leading mobile network operators like Vodafone India and Bharti Airtel have secured a place. Payment banks are aimed at offering millions of Indians, the access to basic banking. Reliance Industries Limited, owned by Mr.Mukesh Ambani, also has got a nod from the Government to set up payment bank in partnership with State Bank of India. Through payment banks, people will be able to make deposits and remittances but will not be able to avail loans.