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On August 19, 2015 Reliance Industries received a license to run a payments bank from the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949.It then partnered with the State Bank of India and incorporated Jio Payments Bank Limited in November 2016.
Direct Benefit Transfer [a] or DBT is an attempt to change the mechanism of transferring subsidies launched by Government of India on 1 January 2013. This scheme or program aims to establish a Giro system to transfer subsidies directly to the people through their linked bank accounts.
A postage stamp released during the launch of India Post Payments Bank in 2017. On 19 August 2015, the India Post received a licence to run a payments bank from the Reserve Bank of India.
This list of banks that have merged to form the State Bank of India includes financial institutions that were at one point or the other merged with the State Bank of India or any of its subsidiaries. This list includes the banks which have been subsidiaries or associates of the State Bank of India.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
State Bank of Mysore was a Public Sector bank in India, with headquarters at Bangalore.It was one of the five associate banks of State Bank of India, all of which were consolidated with the State Bank of India with effect from 1 April 2017.
Andhra Pradesh Grameena Vikas Bank is an Indian Regional Rural Bank headquartered in Warangal, India.It was established in 2006 as a Regional Rural Bank as per Regional Rural Banks Act of 1976.