Topics Covered: Statutory, regulatory and various quasi-judicial bodies.
Indian Banks’ Association (IBA):
Context:
The managing committee of Indian Banks’ Association (IBA) has elected Union Bank of India’s MD and CEO Rajkiran Rai G. as the association’s chairman for 2020-21.
About Indian Banks’ Association (IBA):
Formed in 1946.
- It is a representative body of management of banking in India operating in India – an association of Indian banks and financial institutions based in Mumbai.
- IBA was formed for development, coordination and strengthening of Indian banking, and assist the member banks in various ways including implementation of new systems and adoption of standards among the members.
Members:
With an initial membership representing 22 banks in India in 1946, IBA currently represents 237 banking companies operating in India.
InstaLinks:
Prelims Link:
- About IBA.
- Members.
- Functions.
Sources: the Hindu.
