Bancassurance

Digital assistants, social media to be key for banking sector by 2022: Report

Indian News       Nov 07, 2018

  Mumbai: Digital assistants, social media and third party channels are expected to be the primary channels for banking by 2022, apart from mobile and online, a report said on Wednesday.   "After existing digital channels (mobile and online), digital assistants, social media and third party channels...

LIC's open offer for 26% stake in IDBI Bank to begin from December 3

Indian News       Oct 11, 2018

Mumbai: LIC's open offer to purchase shares from the minority shareholders of IDBI Bank will kick-start from December 3, IDBI Bank said.   The open offer, at Rs 61.73 per equity share, will close on December 14.   LIC has offered to acquire 2,04,15,12,929 equity shares, representing...

Govt to start merging regional rural banks, to cut tally to 36

Indian News       Sep 23, 2018

  New Delhi: The government has initiated consolidation of regional rural banks along with the public sector lenders and intends to bring down their number to 36 from the existing 56. In this regard, the Centre has begun consultations with states as they are one of...

BoB, Vijaya Bank, Dena Bank merger: New entity to be operational from April 1

Indian News       Sep 18, 2018

  New Delhi: The new entity to be formed with the merger of Bank of Baroda, Vijaya Bank and Dena Bank will be operational in the beginning of the next financial year, sources said.   These three state-run banks would work on strict timeline and necessary regulatory...

Vijaya Bank, Dena Bank, BoB to merge: Govt

Indian News       Sep 17, 2018

NEW DELHI: The government Monday said state-owned Bank of Baroda, Vijaya Bank and Dena Bank will be merged to create the country’s third largest lender as part of efforts to revive credit and economic growth.   Earler, the government had announced the mergers of three public...

Commercial banks with over 10 branches to have internal ombudsman: RBI

Indian News       Sep 03, 2018

  Mumbai: The Reserve Bank of India (RBI) Monday asked all scheduled commercial banks with more than 10 branches to appoint an internal ombudsman (IO).   The apex bank has, however, excluded regional ruralbanks (RRBs) from appointing IOs.The internal ombudsman scheme was introduced by the RBI to...

Modi launches India Post Payments Bank, country's largest

Indian News       Sep 01, 2018

  New Delhi: Prime Minister Narendra Modi on Saturday launched India Post Payments Bank (IPPB) that aims to take banking to the doorstep of every citizen by arming three lakh postmen and 'Grameen Dak Sewaks' with digital aids to deliver financial services. IPPB -- which will...

Max Life- Axis Bank partnership crosses Rs. 10,000 crore in new business premium

Indian News       Aug 30, 2018

  New Delhi: Max Life Insurance has achieved a new milestone in building one of the most admired bancassurance partnerships in India with Axis Bank by crossing Rs.10,000 crore in new premium (individual and group) since the inception of this partnership in 2010.   The partnership has...

LIC board gives in principle approval to acquire 14.9% stake In IDBI Bank

Indian News       Aug 28, 2018

  Mumbai: IDBI Bank on Tuesday said Life Insurance Corporation (LIC) will buy 14.9 per cent equity stake in the bank, a move that would eventually lead to the acquisition of the majority stake in the state-owned lender.   In August, the Union Cabinet had approved LIC's...

SBI reduces charges for non-maintenance of minimum balance

Indian News       Mar 13, 2018

Mumbai: The charges on non-maintenance of an average monthly balance in savings accounts have been reduced by up to 75 per cent.   The State Bank of India on Tuesday reduced its charges on non-maintenance of an average monthly balance (AMB) in savings accounts by up...

1 2