``Banks freeze/block accounts based on internal triggers, however,...
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Corporate credit tremors in aftershock of tariff-led stock rout
The move is fueling fears pension funds and other longer-term...
RBI cuts rates by 25 bps for a second time as US tariffs add to growth risks
Sanjay Malhotra, Governor, Reserve Bank of India RBI has lowered...
Indian lenders lag global peers on cybersecurity spends, BCG Says
Digital payment frauds saw a more than fivefold jump to 14.6 billion rupees ($175 million) in the year ended March 2024 from the previous fiscal year, according to the Reserve Bank of India Mumbai: Rising cases of online thefts and frauds will push Indian banks that...
Private US banks can embrace UPI for faster digital payments: Fed Reserve Governor
Christopher Waller,Governor,Federal Reserve “The technology-driven payments revolution in India has been enabled by a public-private partnership to build the ‘technology stack’ of digital platforms that has broadened financial inclusion and done so at low costs,”...
Govt targets to open more than 3 crore PMJDY accounts during current financial year: Sitharaman
"Our target is to open more than 3 crore PMJDY accounts during the current financial year. The average bank balance per account in March 2015 was Rs 1,065, which has now increased to Rs 4,352. Around 80 per cent of the accounts are active, As many as 66.6 per cent of...
Pradhan Mantri Jan Dhan Yojana@10: World’s Largest Financial Inclusion Mission
PMJDY, the world’s largest successful mission has already crossed the 53 crore beneficiaries mark Through PMJDY, one can avail benefits of multiple schemes via Direct Benefit Transfer (DBT). They include Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri...
Reliance Cap lenders raise concerns over Rs 7,300 cr debt term sheet offered by IIHL
The committee of creditors (CoC) has expressed concerns that bankers to IndusInd International Holdings Ltd (IIHL) have imposed numerous conditions for offering Rs 7,300 crore debt and some of these conditions can only be met by IIHL after the resolution plan has been...
60-65 % of India’s household gold loans market still untapped, goes to unorganized market: Jefferies
Banks have traditionally dominated the organized gold loan market, holding over 75 percent of the market share. Nearly 80 percent of these are given for agricultural gold loans. In contrast, NBFCs have focused on retail gold loans against jewelry, with their share...
78 % of consumers choose digital banking over cash transactions: Report
Jamie Dimon, CEO, JPMorgan Chase Banks are also feeling the heat from fintech companies like PayPal, Stripe, and Venmo. Jamie Dimon, CEO of JPMorgan Chase, has called these fintechs "enormous competitive threats" to traditional banking New Delhi: 78 percent of...
Household real income continued to decline in recent months: Report
The report added that for now, however, the decline in real HH income, which accounts for 78 percent of GDP, suggests that any recovery will be gradual at best. This will likely continue to weigh on real GDP growth and present challenges for the banking sector New...
Bancassurance: Bajaj Allianz General ties up with HSBC India
Bajaj Allianz General Insurance and HSBC India have announced a strategic partnership to offer general insurance products and services to HSBC’s vast customer base in India, ``Through this collaboration, we aim to provide comprehensive insurancesolutions to HSBC’s...
IRDAI forms task force to address challenges and drive growth in surety bond market
Debasish Panda, chairman, IRDAI "Surety bonds play a crucial role in supporting India's infrastructure development. By addressing the challenges and fostering collaboration, we can unlock the full potential of this valuable financial instrument. Today’s discussions...