December 2016 Current Affairs

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ICICI Bank open to investing in startups

ICICI Bank open to investing in startups
20 April 2016 Current Affairs: Country's largest private sector lender ICICI Bank has announced that it is open to investing in startups in the financial technology space even though it has not earmarked a dedicated corpus for the investments. But the bank has not earmarked a dedicated corpus for the investments. The banks is already working with startups either individually or through incubators. The bank officials stated that ICICI Bank is interested in technologies like big data and artificial intelligence, which will help it serve customers better.The smaller rival of the ICICI bank, the south based Federal Bank has already announced in September last year that it has dedicated Rs. 25 crore fund to invest in startups. Apart from Federal Bank since January, when the GOI has launched the 'Startup India' initiative, a slew of lenders have announced plans for startups, even as the most successful startups have seen an erosion in valuations. The lenders’ initiatives for startup revolve around having dedicated branches and products with a focus on financial advisory for new entrepreneurs. The SBI has also launched a dedicated branch for startups in Bengaluru, which was followed by a similar move by private sector lender RBL Bank.The bank has also declared the winners of a mobile application developing contest and said over 2,000 entries were received. The top honour went to Bengaluru-based startup employee Mohit Talwadiya for his 'Conversational Banking' app which will help do banking with ease of conversations based on natural language processing and artificial intelligence on multiple channels like chat and speech. The bank will try to incorporate the winning innovations into its digital strategy.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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