A recent report by NITI Aayog revealed that at least 27 million...
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Nippon Life Insurance may pick up minority stake IndusInd Bank
Nippon Life Insurance Co.’s India unit is considering buying a...
RBI asks fintechs and digital payment cos to ensure responsible innovation and better compliance
Sanjay Malhotra, Governor, RBI The regulator would continue to...
Extreme weather may pose risk to inflation, says RBI Bulletin
Supply shocks play a significant role in shaping inflation dynamics, with first and second-round effects exerting distinct but interconnected influences on prices and economic activity. The first-round effects typically manifest as immediate changes in the prices of...
RBI issues draft guidelines on payment aggregators
The RBI said that given the growth in digital transactions and the significant role that PAs play in this space, the current directions on PAs are proposed to be updated and cover, inter alia, KYC and due diligence of merchants, operations in Escrow accounts, and...
BNP Paribas buys 9% of Ageas from Fosun for EUR730 Mln
“We see the strategic rationale for a combination of banking and insurance, especially in the Belgian market where the savings market favors products in insurance wrappers,” said Johann Scholtz, an analyst with Morningstar BNP Paribas, the euro zone’s biggest bank,...
Govt collects Rs 27k cr in taxes from sr citizens on interest earned from fixed deposits: SBI report
SBI researchers estimated that at least 7.3 crore of these accounts have a balance of over Rs 15 lakh, and assuming that the deposits fetch an interest of 7.5 per cent, senior citizens have earned Rs 2.7 lakh crore in FY24 as interest alone Mumbai: The government has...
BJP Manifesto 2024: PM Modi promises to make India a global insurance hub
Prime Minister Narendra Modi Every elderly person above the age of 70 years will be brought under the ambit of Ayushman Yojana Further strengthening the PM Fasal Bima Yojana through more technological interventions to ensure speedy and more accurate assessment, faster...
Majority customers surveyed admit facing cashback trap online: Report
Central Consumer Protection Authority (CCPA) has identified 13 types of "dark patterns" that amount to misleading advertisement or unfair trade practice or violation of consumer rights, including subscription trap, bait and switch, drip pricing, etc A majority of...
Global accounting rule ends leeway over operating profit
Banks and insurers will have to include interest, a key part of their business model, in their operating profit, which some already do London: Companies will have to publish standardized operating profit figures from 2027 under new requirements from a global...
Climate change poses challenges for monetary policy, says RBI report
Climate change directly impacts inflation through adverse weather events affecting agricultural production and global supply chains, climate change could impact the natural rate of interest, and the after-effects of climate change might weaken the transmission of...
CBDC transaction volumes down, P2M transactions growing: RBI
Reserve Bank of India deputy governor T Rabi Sankar said there are 46 lakh users and 4 lakh merchants transacting in CBDC right now, and added that as the acceptance of CBDC grows, there has been a growth in the P2M, or peer-to-merchant, transactions Mumbai: The...
Wheat price won’t be affected, vegetable needs to be watched out: RBI Governor on heatwave predictions
Shaktikanta Das,Governor,Reserve Bank of India The RBI Governor said that since wheat harvesting is almost over in the country, any heatwave condition won't impact wheat prices, but the prices of vegetable has to be watched out in wake of the temperatures...