Daily Banking Current Affairs on 3 July 2015

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Daily Banking Current Affairs on 3rd July

RBI asks banks to use information from CRILC to open current account

With a view to improve credit discipline and reduce NPA level, the Reserve Bank today asked lenders to make use of credit information available with Central Repository of Information on Large Credits (CRILC) for opening of current accounts. 

Banks are advised to make use of the information available with CRILC and not limit their due diligence to seeking NOC from the bank with whom the customer is supposed to be enjoying the credit facilities as per his declaration, it said in a notification. 

SBI launches initiative to speed up home loan applications

Country's largest lender State Bank of India today launched an initiative to provide doorstep services and expedite home loans application process. 

The initiative known as 'Project Tatkal' will help get the loan within 10 days after receipt of application form and relevant supporting documents, the bank said in a release. 

"It will bring down the average time taken for delivery of home loan to within 10 days from the date of receipt of completed home loan application form and relevant supporting documents from the customer," the release said. 

The bank has also recently introduced an online customer acquisition solution (OCAS) for instant e-approval of home loan applications. 

Kotak Mahindra Bank gets FIPB nod to raise foreign investment limit to 55 per cent

Kotak Mahindra Bank's proposal to raise foreign investment limit in the lender to 55 per cent was cleared by the Foreign Investment Promotion Board (FIPB) today. 

After deferring a decision on the proposal in the past, the FIPB cleared the application during today's meeting after the Department of Financial Services gave its opinion on the matter, sources said  Investments from FIIs, FPIs and foreign banks had reached 48.55 per cent in the merged entity.