BANKING & FINANCE
Banking Affairs
South Indian Bank Integrates Digital Loan Against Mutual Funds and EPF Payment Services
South Indian Bank (SIB) has collaborated with fintech firm *smallcase* to launch a digital 'Loan Against Mutual Funds' (LAMF) facility with interest rates starting at 9.99% per annum.
The bank also introduced Employees’ Provident Fund (EPF) payment services via its internet banking platform, 'SIBerNet', in partnership with the EPFO.
The LAMF solution provides an end-to-end digital journey, allowing investors to access liquidity using mutual fund units as collateral without liquidating long-term holdings.
The EPF service was officially inaugurated on March 12, 2026, by officials from EPFO and SIB leadership.
Significance: SIB is positioning itself as a digitally-driven bank by embedding specialized credit and regulatory payment services into its ecosystem.
The bank also introduced Employees’ Provident Fund (EPF) payment services via its internet banking platform, 'SIBerNet', in partnership with the EPFO.
The LAMF solution provides an end-to-end digital journey, allowing investors to access liquidity using mutual fund units as collateral without liquidating long-term holdings.
The EPF service was officially inaugurated on March 12, 2026, by officials from EPFO and SIB leadership.
Significance: SIB is positioning itself as a digitally-driven bank by embedding specialized credit and regulatory payment services into its ecosystem.
Key Facts / Static GK
South Indian Bank Founded: 1929
South Indian Bank HQ: Thrissur, Kerala
SIB CEO: P.R. Seshadri
South Indian Bank HQ: Thrissur, Kerala
SIB CEO: P.R. Seshadri
Practice Quiz — 16 March 2026
Q1. Who administered the oath of office to Syed Ata Hasnain as the Governor of Bihar?
Answer: (C) Chief Justice of Patna High Court — As per the Constitution of India, the oath of office to a Governor is administered by the Chief Justice of the High Court of that state. In this case, Chief Justice Sangam Kumar Sahoo of the Patna High Court administered the oath.
Q2. Which Union Ministry was primarily responsible for organizing the 'Purple Fest' at Rashtrapati Bhavan?
Answer: (C) Ministry of Social Justice and Empowerment — The 'Purple Fest' is an initiative focused on Divyangjan (Persons with Disabilities), which falls under the jurisdiction of the Ministry of Social Justice and Empowerment.
Q3. What is the new revised fee for the NHAI FASTag Annual Pass for the financial year 2026-27?
Answer: (C) ₹3,075 — The NHAI has revised the FASTag Annual Pass fee from ₹3,000 to ₹3,075 for the financial year 2026-27, effective April 1, 2026.
Q4. Tuticorin Airport, which was recently renamed Thoothukudi Airport, is located in which Indian state?
Answer: (D) Tamil Nadu — The airport is located in the state of Tamil Nadu. The renaming was approved to reflect the local name of the city, Thoothukudi.
Q5. The festival of 'Chapchar Kut' is associated with which Indian state?
Answer: (C) Mizoram — Chapchar Kut is the most important traditional spring festival of the Mizo people in Mizoram, celebrated after the completion of jhum cultivation tasks.
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