Sashidhar Jagdishan, MD &CEO, HDFC Bank The issue of...
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Court approves Bank of America’s $72.5 million settlement with Epstein accusers
The lawsuit is one of several accusing Epstein’s banks of ignoring...
HDFC Bank faces class-action lawsuit in US
The lawsuit alleges that HDFC promised Maharashtra State Road...
India’s Financial Inclusion Index rises from 53.9 in 2018 to 67 in 2026
The Pradhan Mantri Jan Dhan Yojana (PM-JDY) accounts have grown four times since 2015 to 59.09 crore and deposits have risen 20-fold to Rs 3,16,514 crore.Nearly 45.95 crore PM-JDY accounts are in rural and semi-urban areas, while 13.14 crore are in urban and...
SEBI drops fraud allegations against Max Financial, Axis Bank in Rs 3,912-crore case
The scrutiny originated with the Insurance Regulatory and Development Authority of India (IRDAI). In November 2022, IRDAI informed SEBI that MFSL and Axis Bank had entered into a series of buy-and-sell transactions involving unlisted equity shares of Max Life. IRDAI...
Sitharaman asks public sector banks to focus on youth; provide cool, simple banking to suit their needs
Finance Minister Nirmala Sitharaman Sitharaman also pointed to the perception gap between public and private sector banks among younger customers, saying private banks appeared to have an image of being banks that were "cool enough as well", and urged PSBs to keep...
Govt to announce high-level banking for Viksit Bharat panel
Nirmala Sitharaman,Union Finance Minister The Finance Minister said the Department of Financial Services (DFS) had worked on seven themes that would be important for taking the banking and financial sector forward. The themes of discussion are -- banking for youth,...
‘India was, is and will be one of fastest-growing economies’: SBI Research
The report noted that the number of taxpayers earning Rs 100 crore and above rose 39 per cent to 576 in assessment year 2026, while those earning Rs 1 crore and above increased 14 per cent to 5.36 lakh. New Delhi: India has demonstrated economic resilience through...
Parliamentary panel rejects govt response on cyber fraud, says it fails to plug key gaps
The committee noted that under the proposed compensation framework, 65 per cent of compensation payouts would be assigned to the RBI while beneficiary banks would bear only a 10 per cent burden. According to the panel, this creates a "severe moral hazard" and does not...
Careless AI use could create new forms of financial exclusion, instability:RBI Governor
Reserve Bank of India Governor Sanjay Malhotra said AI built on top of this digital infrastructure has the potential to significantly change financial services and improve financial inclusion, but warned that the technology also carries risks if not deployed...
Finance Ministry to host two-day conclave on 17-18 Aug, to deliberate people-centric banking reforms
The thematic tracks will focus on deposit mMobilisation, banking for youth, supporting the investment cycle, supporting global capability centres, agriculture & horticulture value chain infrastructure, re-imagining the credit card business, and priority sector...
Amit Shah stresses cybersecurity, announces 24/7 cyber surveillance for urban cooperative banks
"There is an increase in digital transaction frauds. The forensic science support is crucial for banking safety and collaboration with the National Forensic Science University (NFSU) is very crucial," Union Home and Cooperation Minister Amit Shah said while addressing...
Govt kept investment bankers in dark on LIC’s unusually fast $3.3 billion OFS deal
Officials in the state divestment department kept the launch date a secret to prevent traders from taking positions ahead of the sale and pushing the stock lower before the government could sell its shares, according to people familiar with the matter. Even the banks...