Vivek Joshi ,Financial Services Secretary Banks have been...
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Complaints under RBI’s ombudsman schemes rise 68 pc to over 7 lakh crore in 2022-23
Complaints relating to mobile/electronic banking were the highest...
8 lakh bank employees to get 17% annual wage hike, 5-day work week awaits govt approval
For the retired employees, it was agreed that the monthly ex-gratia...
Indian economy’s GDP growth in FY 24 could be “very close”: RBI governor Das
He reiterated that the RBI's monetary policy committee remained focused on bringing inflation down to its target of 4% and, despite prices being on a clear downward trajectory, major uncertainties such as geopolitical and weather risks remained Mumbai: The Indian...
RBI directs credit card issuers to give users choice of other networks
"On a review, it is observed that some arrangements existing between card networks and card issuers are not conducive to the availability of choice for customers," the Reserve Bank of India (RBI) said in a circular Mumbai: India's central bank on Wednesday said...
Committee of Creditors asks Hindujas to complete RCap resolution by March end
COC, in an official communication, through its lawyer Luthra and Luthra, on Monday, has further asked IIHL to provide all necessary information, documents and cooperation to obtain the pending regulatory approvals, especially from the Indian insurance regulator IRDAI,...
Canara HSBC Life partners with Tripura Gramin Bank
Canara HSBC Life Insurance Company Limited announces a new strategic partnership with Tripura Gramin Bank (TGB) to offer a range of life insurance products through TGB's extensive branch network within the state. The collaboration marks a significant milestone,...
ICICI Bank buys 25 lakh shares to make ICICI Lombard Gen Insurance subsidiary co
The move follows a May 2023 resolution by the bank's board to increase the bank's holding ICICI Lombard by another 4 per cent in multiple tranches Mumbai: Private sector lender ICICI Bank on Thursday said it has bought an additional 25.14 lakh shares of ICICI Lombard...
India’s rural-urban income gap declines sharply amid fall in poverty level: SBI Report
The states once considered laggards are showing the maximum improvement in rural and urban gap. States like Bihar, Uttar Pradesh, Madhya Pradesh are showing increasingly the impact of these factors, the report adds New Delhi: Along with the sharp decline in poverty in...
Hinduja Group to delist Reliance Capital from bourses, shares to be extinguished
“The liquidation value of the equity shareholder of RCL (Reliance Capital) is nil and hence, equity shareholders will not be entitled to receive any payment and no offer will be made to any shareholder of RCL,” according to an exchange filing by RCL Mumbai: Hinduja...
‘Money mule’ bank accounts on the rise in India: Report
Mule accounts are owned by people who are duped by fraudsters into laundering stolen/illegal money via their bank accounts. When such incidents are reported, the "money mule" becomes the target of investigations due to their involvement New Delhi: Banks in India need...
FSDC to formulate strategy to digitalise KYC process in financial sector, curbing illegal online lending
(Lto R) Shaktikanta Das, Governor, Reserve Bank of India, Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs and Bhagwat K Karad,,Union Minister of State for Finance at the 28th meeting of FSDC in New Delhi The FSDC on Wednesday discussed various...
Former LIC chairman MR Kumar appointed as non- executive chairman of Bank of India
The government, on Wednesday, has appointed MR Kumar, former chairman of Life Insurance Corporation(LIC), as a part-time non-official director as well as non- executive chairman of Bank of India for a term of three years. Kumar had completed his term as the LIC...