Banking and Finance News (February 2016)

1. IndiaFirst Life Insurance has appointed Satishwar Balakrishnan as its Chief Financial Officer (CFO).

2.Private lender Federal  has partnered with National Australia Bank to provide its NRI customers in Australia inward remittance facility at a discounted rate.

3. State Bank of India (SBI)  introduced SBI FlexiPay Home Loan, whose repayment terms — lower EMIs in initial years, followed by higher EMIs — appear similar to teaser loans introduced by the bank in February 2009.

4. 10 New EDs Appointed in Public Sector Banks.  Mayank K Mehta (working in Union Bank of India to Bank Of Baroda), Dina Bandhu Mohapatra (Bank of India to Canara Bank), Vinod Kumar Kathuria and R Subramania Kumar (Punjab National Bank to Union Bank of India and Indian Bank, respectively), and Rajkiran Rai G (Central Bank of India to Oriental bank of Commerce).

5. RBI gives nod to B Swaminathan's appointment as Non-Executive Chairman of Karur Vysya Bank.