Twitter CEO Jack Dorsey owned Square Inc. which enables sellers to accept card payments is now launching banking services for small businesses. Apart from offering businesses savings and checking accounts, Square banking will also offer loans to small and medium businesses through Square Loans. The aim is to attract small business owners who have been struggling to gain access from big banks.
The fifth National Family Health Survey (NFHS) has concluded that the number of bank accounts operated by women has increased significantly. The figure has raised from 26.4% to 76.7% in Bihar, while in Karnataka it surged to 88.7% from 59.4%. Moreover, Assam and Gujarat rose by over 73% and 45% respectively. Besides, NFHS reported notable growth in the mobile phone user base and ownership of property among women.
Courtesy: The Times of India
Sources have informed that Goldman Sachs will be acquiring the credit card business of General Motors with a $2.5 billion deal. Reportedly, Goldman Sachs agreed to the amount and the deal will be finalized in the upcoming weeks. This will be the second partnership of Goldman Sachs after its agreement with Apple in 2019. The acquisition aims to help Goldman Sachs to expand exponentially in the banking sector.
According to a tweet, RBI has signed Amitabh Bachchan to feature in a customer awareness campaign. The banking regulator has been continuously campaigning to aware and reach people informing them about fraudulent activities. The awareness drive includes dos and don’ts required for safe transaction. To increase RBI's reach, the campaigns are designed in regional languages as well. Interestingly, RBI's Twitter handle has 3.02 lakh more… read-more