- + CSB Bank’s Q4 FY24 net profit declines 3 per cent to ₹151 crore —Our Mumbai BureauCSB Bank’s fourth-quarter performance reflects a nuanced picture: Despite economic challenges and regulatory shifts, CEO Pralay Monda...
- + All in one insurance plan: IRDAI may price Bima Vistar at around ₹1,500 per individual—Matter deliberated at IRDAI - Industry meet, Bima Manthan [Category: Money & Banking]
- + Commercial paper issuances by NBFCs hit a 4-year high—RBI’s increased risk weights on bank loans to NBFCs drive CP issuances, supported by investor confidence and diversified funding sources [Category: Mo...
- + RBI lays out a roadmap for voluntary transition of small finance banks to universal banks—Sets criteria for transitioning to universal banks, including net worth and NPA ratios [Category: Money & Banking]
- + SBI Card Q4 net up 11% at ₹662 crore—Pure play credit card issuer had recorded 7% jump in net profit in 2023-24 at ₹4,475 crore [Category: Money & Banking]
- + Bank of Maharashtra reports 45% jump in Q4 net profit at ₹1,218 crore—Boosted by net interest income and lower tax provision burden [Category: Money & Banking]
- + RBI proposes tighter norms for LSPs offering multiple loan products—RBI says it has observed many LSPs offer aggregation services for loan products through outsourcing arrangements with several lenders [Category: Money...
- + NPS assets surge 27.85% y-o-y as of April 20 at ₹11.73 lakh crore —Pension funds thrive as equity returns continued to show robust growth at 33.13 per cent [Category: Money & Banking]
- + Union Bank of India inaugurates new premises of Zonal Office, Malleswaram —Union Bank of India, Bengaluru Zone has 607 administrative units in 09 different regions across Karnataka [Category: Money & Banking]
- + GCCs in BFSI industry anticipate muted CY 2024 hiring: Report —The slowdown in hiring across GCCs in the BFSI space may be attributed to shifting priorities and transforming hiring strategies, says Careernet’s CEO...
- + Kotak Mahindra Bank faces setback in credit card growth and profitability due to RBI’s regulatory action: S&P Global—While the bank’s credit card portfolio has been a key growth segment, accounting for 52% of growth in Dec 2023, total loan growth was at 19% [Category...
- + ICICI Bank blocks 17,000 credit cards after data breach—These cards constitute about 0.1 per cent of the bank’s credit card portfolio [Category: Money & Banking]
- + Kotak Mahindra Bank: Shedding the underperformer tag may be a tough task—For the first time in about a decade, Kotak Mahindra Bank stock witnessed the sharpest single day fall after RBI’s diktat [Category: Money & Banki...
- + Youth must be equipped with financial planning skills: RBI DG Swaminathan—Swaminathan observed that as financial services are moving online, there is a risk of excluding those who lack access to digital technology [Category:...
- + Kotak Bank MD says in discussions with RBI, working to address concerns—RBI also highlighted that the rapid growth in the bank’s digital transaction volumes, including transactions pertaining to credit cards, adding that t...
- + IIFL Samasta Finance adds three distinguished members to its Board—Former NabardABARD Chairman Chintala joins Board of mMicrofinance lender [Category: Money & Banking]
- + Movement Labs raises $38 m funding led by Polychain Capital—The funding will be utilised in the company’s aim to bring Facebook’s Move Virtual Machine to Ethereum [Category: Money & Banking]
- + RBI warns against using prepaid payment instruments from unauthorised entities—The advisory mentioned TalkCharge Technologies, which issued PPIs (Wallets) via its website and app ‘TalkCharge’ without the required authorisation un...
- + Bajaj Finance’s consolidated PAT up 21% in Q4, margins shrink 21 bps —A good quarter on AUM, customer acquisition, portfolio metrics and operating efficiencies. However, dampener for the quarter were elevated loan losses...
- + Tata AIA Life achieves milestone of ₹1 lakh crore in AUM—Assets under management doubled in less than 3 years [Category: Money & Banking]
- + IndusInd Bank Q4 PAT up 15% on healthy NII growth, stable margins—NII for the quarter grew 15 per cent y-o-y and 2 per cent q-o-q to ₹5,376 crore [Category: Money & Banking]
- + Loans bundled with insurance products by SFBs under scrutiny—RBI and IRDAI are questions banks and insurance companies for the need to make such products mandatory for borrowers [Category: Money & Banking]
- + Nabard, RBIH link up to ease agri loan access —Nabard, Reserve Bank Innovation Hub link credit portals to facilitate five-minute loan grant process [Category: Money & Banking]
- + Q4 results preview: Bajaj Finance PAT seen up 22-34%—Bajaj Finance’s margins to contract on higher cost of funds [Category: Money & Banking]
- + Demand for industrial credit from corporates with capex plans will remain muted: India Ratings and Research—The rating agency cautioned that this could keep credit spreads tighter than historical levels and expose the system to mispricing of risk [Category: ...
- + Axis Bank reappoints Amitabh Chaudhry as chief for a further period of 3 years —This re-appointment is subject to approval of the Reserve Bank of India (RBI) and approval of the members, in terms of applicable laws [Category: Mone...
- + Regulatory Push: IRDAI’s two-day brainstorming session with insurers begins in Hyderabad —Debasish Panda, Chairman, IRDAI is meeting the CEOs of general insurance industry on Thursday while the Life insurance industry matters will be discus...
- + RBI bars Kotak Mahindra Bank from onboarding new customers through online & mobile channels—Also asks Kotak Bank to stop issuing fresh credit cards due to IT system deficiencies [Category: Money & Banking]
- + Hinduja Group likely to seek extension from RBI on transfer of RCap to IIHL—The extension has been sought as the implementation of the resolution is expected to take a few months even as the deadline for the approval granted b...
- + Axis Bank posts ₹7,130-crore PAT in Q4 on healthy deposit, margin growth—Net slippages for the quarter were ₹398 crore, whereas retail slippages were ₹1,061 crore [Category: Money & Banking]
- + RBI Deputy Governor T Rabi Sankar Gets One Year Tenure Extension—Re-appointment for one year to apply from May 3 this year, says ACC order [Category: Money & Banking]
- + FSIB recommends appointment of Rana Ashutosh Kumar Singh as SBI MD, Asheesh Pandey as Indian Bank MD —Currently, India’s largest bank has four MDs [Category: Money & Banking]
- + Invesco AMC, 5 staff settle case with SEBI for ₹4.98 crore—In 2021, SEBI had conducted inspection on the mutual fund and portfolio management services (PMS) of Invesco AMC India and found that there were no cl...
- + RBI asks banks to step up vigilance to prevent misuse of banking channels in facilitating unauthorised forex trading—This advisory comes as the central bank has come across instances of unauthorised entities offering foreign exchange (forex) trading facilities to Ind...
- + Axis Bank seen back in black in Q4 on healthy growth, margins to decline—Net NPA ratio is seen at around 0.30 per cent compared with 0.36 per cent a quarter ago. [Category: Money & Banking]
- + Travel, hospitality, entertainment comprised 33% of SBI Card’s spends in 9M FY24—SBI Card tracks spending patterns, noting a rise in travel, including both business and leisure, reflecting societal trends and market expectations [C...
- + Not necessary to activate countercylical capital buffer now: RBI tells banks—By not activating this buffer, the RBI is ensuring that there are no hurdles in the flow of credit to the productive sectors of the economy [Category:...
- + First-year premium of life insurers up 2 pc at ₹3,77,960 cr in FY24: IRDAI—Life Insurance Corporation’s first year premium declined 4 per cent to ₹2,22,522 crore against ₹2,31,899 crore in the previous financial year [Catego...
- + Mahindra Financial Services KYC lapse under RBI scrutiny—Any regulatory action will be ascertained post initial investigation [Category: Money & Banking]
- + Mahindra Financial Services KYC lapse under RBI scrutiny—Any regulatory action will be ascertained post initial investigation [Category: Companies]
- + NABARD unveils Climate Strategy 2030—A media statement said this comprehensive strategy aims to address India’s escalating need for green financing [Category: Agri Business]
- + BharatPe launches all-in-one payment device BharatPe One—The company in a statement said it plans to launch the product in about 100 cities in the first phase [Category: Money & Banking]
- + Mahindra Finance detects fraud in its retail vehicle loans portfolio amounting to ₹150 crore—Forgery of KYC documents at its North East branch delays board meeting for financial results approval [Category: Money & Banking]
- + Health cover for senior citizens: General insurers gearing up to bring in new products —Removal of upper age cap in health cover will make market more competitive and encourage innovation [Category: Money & Banking]
- + RBI asks payment system operators to report high value, suspicious transactions during elections—The Election Commission has so far announced the schedule for holding General Elections to Lok Sabha and Legislative Assemblies of Andhra Pradesh, Aru...
- + Merged entity a completely new organisation, can’t compare financials—HDFC Bank MD discusses post-merger challenges, emphasises new organisation’s focus on growth and profitability metrics [Category: Money & Banking]
- + IOB plans to raise equity capital up to ₹5,000 cr in FY25—Also, planning to raise Tier-II capital up to ₹1,000 cr [Category: Markets]
- + TMB’s net profit flat at ₹253 crore in Q4, FY24 profit up 4%—For the full year ended March 31, 2024, the company’s net profit grew to ₹1,072 crore [Category: Money & Banking]
- + Shriram Finance ups interest rates on digital-only RDs by 35-40 bps—The highest interest rate the NBFC is offering is 9% on RD of 36- 48 months tenor; launches 15-month digital-only ‘Unnati” FD is 8.15% [Category: Mone...
- + The edge of a cliff—Looking for answers to health insurance concerns only raises more questions. Meanwhile, healthcare costs as well as health insurance costs keep mounti...
- + After stake sale reports, HDFC Bank says exploring all options for HDB Financial listing—MUFG’s potential acquisition of a 20 per cent stake in HDB financial values the company at $9-12 billion, signalling robust market confidence in the N...
- + Delink bank loans from on-lending to group cos: RBI tells Tata Sons—Move could help avoid upper layer NBFC classification; Tata Sons has sought 12-18 months to unwind positions [Category: Money & Banking]
- + Pramerica Life Insurance aims 30% CAGR in NBP in next five years —In talks with various banks to expand bancassurance play, says MD & CEO Pankaj Gupta [Category: Money & Banking]
- + Industry keenly awaiting implementation of 30% UPI market share cap by NPCI—According to sources, NPCI would spell out ways to implement the UPI market ceiling to minimise concentration risk. [Category: Money & Banking]
- + HDFC Bank board approves ₹60,000 crore bond issuance for FY25 —HDFC Bank aims to raise resources through Long-Term Bonds for infrastructure and affordable housing, Perpetual Debt Instruments as part of Additional ...
- + HDFC Bank Q4 profit jumps 37% on stable margins, one-time gains from Credila stake sale—Net revenue surges 47.3 per cent to ₹47,240 crore [Category: Money & Banking]
- + HDFC Bank Q4 net profit grows to ₹17,622 crore—In July 2023, the bank merged its home loan-focused parent HDFC into itself [Category: Money & Banking]
- + Now, those above 65 yrs too can buy health cover—IRDAI removes upper age limit for buying new health insurance policies [Category: Money & Banking]
- + MPC member Ashima Goyal: Full transmission of policy repo to loan rates not happening—Goyal noted that under Flexible Inflation Targeting, optimal policy transmission occurs when the repo rate is maintained appropriately based on domest...
- + Tata Group seeks RBI waiver from listing NBFC—In seeking the waiver, Tata Sons told the central bank it has used the proceeds from selling $1.1 billion worth of shares in Tata Consultancy Services...
- + IRDAI removes age limits on health insurance purchase—Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65 [Category: Money & Banking]
- + Results preview: HDFC Bank’s Q4 seen healthy on merger impact, treasury gains, Credila stake sale —The private lender’s net profit may have gained 30-50% largely due to the merger of erstwhile HDFC with the bank [Category: Money & Banking]
- + Extant monetary policy setting is well positioned: RBI Governor Shaktikanta Das—RBI released the minutes of its latest MPC meeting [Category: Money & Banking]
- + BSE-listed Moneyboxx assets under management rises to ₹720 crore —The financial firm, which finance livestock farmers, plans to enter South India this fiscal [Category: Money & Banking]
- + Andromeda Sales to foray into mutual fund distribution—MF distribution biz to go live in 30 days with dedicated App, says Co-CEO Raoul Kapoor [Category: Money & Banking]
- + RBI approves Ajith Kumar’s appointment as Dhanlaxmi Bank chief—Presently, Kumar is the Chief Human Resources Officer in Federal Bank in the cadre of President. [Category: Money & Banking]
- + Surplus liquidity effect: Banks seek to park ₹1.03-lakh crore with RBI—It will also conduct a 14-day VRR auction on Friday to infuse ₹75,000 crore liquidity into the banking system [Category: Money & Banking]
- + IRDAI marks 25th anniversary with slew of regulatory reforms —IRDAI has been pivotal in shaping the insurance industry, steering it towards growth, innovation, and consumer protection [Category: Money & Banki...
- + Sundaram Home Finance expands its presence in Rajasthan—With existing branches in Jaipur, Ajmer, and Jodhpur, Sundaram Home Finance aims for disbursements of around ₹300 crore in the next 2-3 years [Categor...
- + NBD Emirates, Mizuho Bank eye KKR’s stake in Avendus Capital —Due diligence said to be at advanced stages, company to be valued at $430–450 million [Category: Money & Banking]
- + Chandra Shekhar Ghosh: Accidental banker, incidental businessman—Recent years saw Ghosh’s family entering healthcare and theme park, which may not have gone down well with regulator [Category: Money & Banking]
- + Larger banks may look at securitisation route to unlock liquidity —ICRA projects securitisation volumes to comfortably cross ₹2-lakh crore in FY25 [Category: Money & Banking]
- + Paytm clarifies status of licensing process amid recent speculations—Paytm says it had not received any communication suggesting a deferral or penalties [Category: Money & Banking]
- + Indian consumers vulnerable to illegal loan app scams: report—Despite knowing the lender’s name, fewer customers are aware of key facts and grievance redressal mechanisms, reveals a report by the Fintech Associat...
- + RBI issues draft norms for offline payment aggregators, moots ₹15-cr net worth—Mandates PA-P banks to comply with the final norms within 3 months of issue [Category: Money & Banking]
- + Kumar Mangalam Birla says financial services to grow 10-22% in 3-5 years—Once the licence is received, the wallet will act as another touch point to enable ease of transactions for customers [Category: Money & Banking]
- + Aditya Birla Capital applies for PPI licence to open wallet under new ABCD platform—Once the licence is received, the wallet will act as another touch point to enable ease of transactions for customers [Category: Money & Banking]
- + Rupee sinks to record closing low of 83.54 against dollar—The weakness in the rupee came amid a stable dollar index, escalating geopolitical tension and continuous selling from FIIs [Category: Money & Ban...
- + Aditya Birla Group’s financial verticals to grow 10-22% in 3-5 years—The platform has been developed and built at a cost of ₹100 crore over the past year and is expected to help double the company’s customer base in thr...
- + Aditya Birla Group’s financial verticals to grow 10-22 per cent in 3-5 years—The platform has been developed and built at a cost of ₹100 crore over the past year and is expected to help double the company’s customer base in thr...
- + Mutual fund assets soar 35% to record ₹53.4 lakh crore in FY24—This percentage gain was the highest since fiscal 2021 when the industry had grown by 41%, the Association of Mutual Funds in India (Amfi) said in its...
- + Mutual fund assets soar 35% to record ₹53.4 lakh crore in FY24—This percentage gain was the highest since fiscal 2021 when the industry had grown by 41%, the Association of Mutual Funds in India (Amfi) said in its...
- + Kotak restores services after outages hit digital transactions—Kotak’s technical servers were “experiencing intermittent slowness” at the start of the week, but by late Monday evening normalcy had been restored, a...
- + India’s growth aids SBI’s loan growth, asset quality, profitability: S&P Global Ratings—SBI’s capitalisation may remain weaker vis-a-vis private sector banks [Category: Money & Banking]
- + Subbarao’s memoir exposes government pressure on RBI for rosier growth narrative—Subbarao recalled instances where government officials contested RBI’s estimates and pressured for higher growth projections and lower inflation rates...
- + RBI asks lenders to provide ‘key fact statement’ to borrowers —The KFS has to be provided with a unique proposal number and will have a validity period [Category: Money & Banking]
- + Kotak Bank services hit due to server outage, users take to social media—Several depositors of Kotak Mahindra Bank have been unable to use the bank’s services since early morning [Category: Money & Banking]
- + IMGC ties up with Bank of India to offer mortgage guarantee-backed home loan products—The partnership aims to make home ownership more accessible in the affordable housing segment. [Category: Money & Banking]
- + Deposits of senior citizens soared about 150% to ₹34 lakh crore in 5 years: SBI report—The attraction of 50 basis points additional interest rate and higher deposit insurance cover makes senior citizens opt bank deposits instead of other...
- + Reliance Capital case: NFRA debars two CAs to be appointed as Auditors, also imposes fine—The order noted that in FY 2018-19, RCL had loans from bBanks of around ₹Rs 12,000 crore and other external borrowings of around ₹Rs 32,000 crore [Cat...
- + Banks’ margins to shrink but loan growth, lower credit cost to aid PAT—Margins are expected to shrink 3-12 bps on quarter due to increase in banks’ cost of funds, decline in credit to deposit ratio, and back-book deposit ...
- + RBI to bring POS players under license regime—Move is expected to impact players such as Pine Labs, MSwipe, Paytm and BharatPe [Category: Money & Banking]
- + IIFL’s gold book could run down in next 2-3 quarters if RBI’s restrictions prolong: CARE Ratings—The agency has revised credit watch on the ‘AA’ ratings on IIFL’s various long-term debt instruments and bank facilities from “rating watch with devel...
- + FinMin for enhanced KYC, due diligence for merchants & banking correspondents to check fraud—Appropriate due diligence of merchants and Business Correspondents (BCs) who offer banking services in rural and remote areas is necessary not only to...
- + Health insurance claim assistance platform ClaimBuddy raises $5 million—Fund will help ClaimBuddy advance its technology, expand its team and sales network, and add new product lines for its growing network of Hospitals [C...
- + Deals activity slows further in BFSI sector as investors turn cautious—There were 13 M&A deals in the first quarter of 2024 for a total value of $973 million, both down 28% sequentially [Category: Money & Banking]
- + RBI rejects candidates proposed by Tamilnad Mercantile Bank for MD & CEO position—RBI asks the bank to submit a fresh panel of candidates with suitable experience [Category: Money & Banking]
- + Revolut gets in-principle approval from RBI for Prepaid Payment Instruments licence—This enables it to operate as a domestic player in the market, the global fintech firm said in a statement [Category: Money & Banking]
- + RBI rejects SFB applications of Dvara Kshetriya Gramin, Tally Solutions—Based on the assessment of the applications, they were not found suitable for granting in-principle approval to set up a small finance bank, says RBI ...
- + Bajaj Finance, Shriram Finance follow banks, hike FD rates—Intensified competition for deposit accretion has forced NBFCs to compete with smaller private banks and small finance banks [Category: Money & Ba...
- + Uday Kotak sounds alarm bells on global economy; says US Fed may postpone rate cuts, China the ‘only wild card’—US Fed may postpone rate cuts to later, possibly closer to the US Presidential elections, given higher-than-expected inflation, says Uday Kotak [Categ...
- + Suryoday Small Finance Bank appoints Deepak Kumar Sharma as Additional Director —Suryoday Small Finance Bank says Sharma has nearly 3 decades of proven track record in building successful ventures within banking, telecom and servic...
- + Bank of Baroda raises MCLR by 5 bps across four tenors—Bank of Baroda, however, keeps one month MCLR unchanged at 8.30% [Category: Money & Banking]
- + RBI declines Annapurna Finance’s universal bank request—The regulator offered Annapurna Finance the option to become a small finance bank, which the company has reportedly declined [Category: Money & Ba...
- + Bandhan Bank effect: RBI declines Annapurna Finance’s universal bank request—The regulator offered Annapurna Finance the option to become a small finance bank, which the company has reportedly declined [Category: Money & Ba...
- + Retail asset securitisation volume for FY24 touches all-time high of ₹2,05,000 cr: CareEdge Ratings—PTC and DA volumes stood at ₹1,01,000 crore (₹69,000 crore in FY23) and ₹1,04,000 crore (₹1,07,000 crore). [Category: Money & Banking]
- + HDFC becomes first private bank to open branch in Lakshadweep—About 52% of HDFC’s branches are in semi-urban and rural areas [Category: Money & Banking]
- + SBI eyes more market share across segments —SBI plans to expand its presence in retail-personal, agriculture, MSME and corporate segments [Category: Money & Banking]
- + Customer service interaction top grievance area in BFSI sector—Kapture CX’s survey shows that 68% of industry leaders identify customer service interaction to be the predominant issue, underscoring the need for it...
- + PSU banks beat private peers in market capitalisation gains during Q4—The government’s focus on such long-term projects likely benefit state-owned banks more than private lenders as they traditionally have higher exposur...
- + Karnataka Bank partners with FISDOM—3-in-1 facility enables customers to streamline their investment journey by consolidating their demat and trading accounts [Category: Money & Bank...
- + CAMS gets RBI’s nod to operate as an online payment aggregator—Computer Age Management Services’ payment business unit CAMSPay has been in the payment solutions industry for the last 15 years [Category: Money &...
- + Delay in issue of RuPay debit cards enervates PMJDY—Lack of cards makes beneficiaries ineligible to access some benefits [Category: Money & Banking]
- + ICRA revises banking sector outlook to ‘stable’ from ‘positive’—‘The challenges in mobilising deposits, high interest rates and the increase in risk weights will slow down the pace of credit growth’ [Category: Mone...
- + SBI is a financial superstore, not just a bank: Dinesh Khara —From holding on to the unseated No. 1 position in the banking landscape to an outlook on the current lending terrain, Dinesh Khara touches on a wide r...
- + Tech-led innovation is transforming banking, says Ajay Rajan, Country head, Yes Bank —“India’s banking sector has been instrumental in elevating the country’s GDP from $250 Bn in the 1990s to $3.7 TN in 2023” - Ajay Rajan, Country head,...
- + A decade of fast-paced digital financial revolution— Apart from concerns over governance and security issues, complete financial inclusion is yet to be realised [Category: Elections 2024]
- + Surinder Chawla resigns as Paytm Bank head effective June 2024— [Category: Money & Banking]
- + GNPA of banks to moderate to decadal low of 2.7% in Q4: Emkay Global—EGFSL predicts banks’ GNPA ratio to drop in Q4 FY24, with public sector banks benefiting most [Category: Money & Banking]
- + SBI Chairman expects early outcomes from YONO 2.0 by June-July —Clarifying that YONO will not be spun off from SBI, Khara reiterated that the portfolio sourced through YONO is as good as business directly sourced b...
- + Bain Capital to sell $429-million stake in Axis Bank, term sheet shows—Bain Capital sold shares worth $448 million in Axis Bank in December [Category: Money & Banking]
- + General insurance industry maintains double-digit growth in gross premium in FY24—Gross premium of 25 non-life insurance companies grew 14 per cent at ₹2.45-lakh crore in FY24 [Category: Money & Banking]
- + Banking channels used for unauthorised FX trading platforms: RBI Governor Das —This warrants enhanced vigilance by the banks [Category: Money & Banking]
- + JPMorgan Chase’ India team building indigenous platforms adoptive globally —Globally, the company has an employee base of 3,00,000, 63,000 of which are tech employees. One third of this technology workforce is based in India a...
- + Welfare pension disbursal almost complete in AP—The vast network of about 2.40 lakh volunteers attached to Village and Ward Secretariats in the State generally distribute pensions to over 65 lakh be...
- + Aadhar Housing Finance gets SEBI nod for IPO—Aadhar Housing Finance Limited had the highest AUM and net worth among the analysed peers in six months ended last September, according to Crisil [Cat...
- + NBFC co-lending AUM nearing ₹1-lakh crore, to grow 35-40% in medium term—Share of personal loan in the co-lending book may decline in FY25 [Category: Money & Banking]
- + Vinod Francis, new CFO of South Indian Bank—These strategic decisions aim to strengthen the bank’s leadership team. [Category: Money & Banking]
- + SBI expects to surpass ₹1-lakh crore operating profit in FY25—The bank eyes domestic deposits and advances to grow by 14 per cent and 14.65 per cent for FY25, with overall growth of 13.50 per cent and 14 per cent...
- + RBI may issue guidance on SFB upgradation to universal banks—At least four small finance banks have indicated interest to become universal banks but haven’t budged due to regulatory logjam [Category: Money &...
- + RBI economic surveys point to optimistic growth outlook—Optimism prevails across sectors, indicating economic resurgence [Category: Money & Banking]
- + RBI Deputy Governor stresses governance, audit function, technology at UCB conference—RBI Deputy Governor M Rajeshwar Rao emphasized UCBs’ crucial role in banking services for the unbanked and the need for robust risk management framewo...
- + SBI plans incognito visits exercise to its branches to monitor customer services—Also plans to build KaaS (KYC as a Service) for better management of KYC profiling of customers [Category: Money & Banking]
- + IRDAI norms on life insurance: Surrendering before maturity can be costly—Going by the new surrender values that are mandated, policyholders will get only a small portion of their premiums if they forfeit their insurance bef...
- + SIDBI partners fintech platform KarmaLife for micro loans to gig workers —KarmaLife will help gig workers access micro loans through a mobile app and eliminates the hassle of extensive paperwork or physical documentation [Ca...
- + Arbitrator asks Byju's to not sell 6 per cent stake in Aakash—Arbitration proceedings were initiated by the MEMG Family Office in March to protect its rights, as per the undertaking given by Byju's at the time of...
- + PNB reports 11.5 per cent loan growth in Q4, BoB's up 12.4 per cent—Total advances were ₹Rs 8.84 lakh crore at the end of March 31, 2023, PNB said in a regulatory filing [Category: Money & Banking]
- + RBI penalises IDFC First Bank, LIC Housing Finance for non-compliance—IDFC First Bank received a penalty of ₹1 crore while LIC Housing Finance was fined ₹49.7 lakh [Category: Money & Banking]
- + Williamson Magor & Co defaults on payment of ₹164.78 crore towards repayment of loan facilities—In a stock exchange filing, the Kolkata-based company said total financial indebtedness of the entity, including short-term and long-term debt, stood ...
- + Room for deposit rate hikes given sustained credit-deposit gap, pressure on NIMs: RBI—Banks active in deposit mobilisation as 3-3.5% credit-deposit gap visible for over a year now [Category: Money & Banking]
- + IOB’s total business crosses ₹5 lakh cr mark in FY24—Marking a significant milestone in financial growth [Category: Money & Banking]
- + Banks, NBFCs must continue to give highest priority to quality of governance: RBI—RBI Governor emphasizes financial entities must prioritize governance, adhere to regulations; SCBs and NBFCs show healthy indicators [Category: Money ...
- + RBI retains FY25 real GDP projection at 7%; retail inflation at 4.5% —Central bank remains buoyant on agriculture and investment fronts [Category: Economy]
- + External candidate may replace CS Ghosh as MD and CEO of Bandhan Bank—Ghosh’s resignation comes on the back of forensic audit conducted by NCGTC [Category: Money & Banking]
- + RBI to roll out cash deposit facility through UPI—To enhance customer convenience and efficiency in banking transactions [Category: Money & Banking]
- + MPC keeps repo rate unchanged at its 1st meeting of FY25—The elephant (inflation) has to return to the forest and remain there on a durable basis, says Shaktikanta Das [Category: Economy]
- + “We need to have far more flexibility in our structures,” RM Vishakha, MD & CEO IndiaFirst Life Insurance—RM Vishakha, MD & CEO IndiaFirst Life Insurance shares her thoughts on the journey of insurance sector in last 10 years: [Category: Money & Ba...
- + RBI Monetary Policy April 2024: Key announcements from Shaktikanta Das—RBI Governor Shaktikanta Das: Here are the major announcements related to the latest bi-monthly RBI Monetary Policy Committee (MPC) meeting April 2024...
- + Food price uncertainties to weigh on inflation trajectory, RBI retains FY'25 forecast at 4.5%—Continuing geopolitical tensions also pose upside risk to commodity prices and supply chains, says RBI [Category: Economy]
- + RBI to allow UPI payments from PPI wallets via third party apps—Move will further enhance customer convenience and boost adoption of digital payments for small value transactions [Category: Money & Banking]
- + NPS assets under management record 30.5% YoY growth in 2023-24—The buoyant equity markets and heightened awareness campaigns have driven the overall growth of NPS assets this fiscal year. [Category: Money & Ba...
- + RBI to modify LCR framework to facilitate better management of liquidity risk by banks—Increased ability of depositors to quickly withdraw or transfer deposits during times of stress; such risks may require revisit of LCR framework, says...
- + RBI to permit non-bank payment system operators to offer CBDC wallets—Currently, only banks are permitted to issue CBDC wallets under the pilot programme [Category: Money & Banking]
- + RBI retains 7% GDP growth forecast for FY25: RBI Governor Shaktikanta Das—Rural demand gathering pace, sustained growth in manufacturing sector should boost private investment, says RBI Governor Shaktikanta Das [Category: Ec...
- + RBI MPC Outcome: MPC keeps repo rate unchanged at 6.50% in its first meeting of FY25—Market players expect RBI to cut rates in the second half of FY25 when retail inflation is seen moving closer to the 4% target [Category: Money & ...
As of 4/26/24 10:20pm. Last new 4/26/24 3:55pm. Score: 230
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