Banking & Bancassurance

Bancassurance Deals:Citi and Bajaj General, IDBI Bank and TATA AIG General join hands

Indian News       Jun 18, 2019

  Mumbai: Bajaj Allianz General Insurance and Citibank, today signed a corporate agency agreement for distribution of Bajaj Allianz General Insurance’s products.   Under this strategic agreement, Bajaj Allianz General Insurance will offer personal lines of insurance such as health, personal accident, motor, home, and travel, along...

RBI asks banks to grout ATMs to wall, pill or floor to enhance security

Indian News       Jun 14, 2019

  Mumbai: The Reserve Bank on June 14 asked banks to ensure their ATMs are grouted to a wall, pillar, or floor by September-end, except those installed in high secured premises such as airports, to enhance security of the cash vending machines. In 2016, the RBI...

Over Rs 2.05 lakh crore frauds in 11 years: ICICI Bank, SBI and HDFC among top victims

Indian News       Jun 12, 2019

New Delhi: Of over 50,000 frauds that hit banks in India in the last 11 fiscal years, the ICICI Bank, State Bank of India (SBI) and HDFC Bank reported highest number of cases, according to an RBI data.   Of the total 53,334 cases of frauds...

Bank fraud touches unprecedented Rs 71,500 crore in 2018-19: RBI

Indian News       Jun 03, 2019

NEW DELHI: Over 6,800 cases of bank fraud involving an unprecedented Rs 71,500 crore have been reported in 2018-19, the Reserve Bank of India has said.    A total of 5,916 such cases were reported by banks in 2017-18 involving Rs 41,167.03 crore, it said.    As...

Insurers gaining, Banks losing ground in Finance:European Central Bank Governor

International News       May 29, 2019

The role of banks as providers of finance has started to erode in Europe and some other parts of the world, the Bank of Finland’s governor Olli Rehn said on Friday, calling for new central bank tools to safeguard financial stability.   “In Europe, an increasing...

Finance Ministry starts groundwork for fresh bank consolidation

Indian News       May 27, 2019

  New Delhi: The next wave of bank consolidation is planned during the October-December quarter of the current fiscal with the Finance Ministry starting to seek information from PSBs on possible targets for amalgamation/mergers and acquisitions with justification on how such an initiative will synergise operations...

PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports

Indian News       May 21, 2019

New Delhi: Punjab National Bank (PNB) could take control of two or three small state-run banks, that could include Oriental Bank of Commerce, Andhra Bank and Allahabad Bank, two sources familiar with the situation told Reuters. New Delhi has been trying to merge smaller regional...

BoI to sell 25.05% stake in its life insurance joint venture

Indian News       May 10, 2019

  Mumbai: State run Bank of India(BoI) on Friday said, it plans to sell its 25.05 per cent stake in its decade old life insurance venture joint venture Star Union Dai-ichi Life Insurance(SUD).   In its request for proposal (RFP), the bank said  it is proposing to...

IRDAI seeks proposal from LIC on stake reduction in IDBI Bank

Indian News       Mar 12, 2019

New Delhi:: Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.  ...

SBI has found fraud worth Rs 7,951.3cr in Apr-Dec: RTI reply

Indian News       Feb 28, 2019

  Mumbai: The State Bank Group has said as much as Rs 7,951.29 crore involving 1,885 cases of fraudulent activities have come to light during the first nine months of the current fiscal year.   In an RTI reply, the nation's largest lender said, the first quarter...

1 2