The bank was also ordered to pay Rs 10,000 for mental agony and...
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Banking & Bancassurance
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Financial systems must remain connected to real economy: PM’s principal Secy cautions against speculation
PK Mishra,Principal Secretary to Prime Minister Addressing the 20th...
PMJJBY,PMSBY settle claims worth Rs25,160 cr since their launch in 2015
Nirmala Sitharaman,Finance Minister Citing data on the 11th...
SBI to deepen employees’ financial understanding; to have bi-weekly yoga sessions for all
"This strategic initiative aims to enhance the depth, quality, and consistency of financial planning provided across SBI's extensive branch and digital network. The training will cover investment planning, retirement readiness, insurance advisory, and estate planning,...
RBI-led initiative to curb digital frauds gains momentum banks roped in to set up DPIP
The proposed platform seeks to bolster fraud risk management by facilitating real-time intelligence sharing and gathering, thereby preventing fraudulent digital transactions, sources said. New Delhi: In a bid to rein in the increasing incidence of digital payment...
“IndiaFirst Life is progressively becoming a multi-channel distribution player in the industry.”
Varun Gupta, President & Chief Distribution Officer (CDO) – Bancassurance, IndiaFirst Life Though role of Bancassurance has grown significantly in the Indian life insurance industry, IRDAI, Insurers and banks need to continue to work together to enhance customer...
ECB embeds climate risk to its supervisory approach on bank losses
The ECB is moving faster than other central banks in treating the fallout from climate change as a financial risk that has the potential to threaten bank solvency. That’s in contrast to the Federal Reserve, with Chair Jerome Powell recently stating that climate isn’t...
FM to meet heads of public sector banks on June 27 for annual review
Comprehensive review of various segments and progress in government schemes including the Kisan Credit Card, PM Mudra and three social security (Jan Suraksha) schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and...
FM asks financial sector regulators to standardise KYC, refund of unclaimed assets to rightful owners
Lto R--Ajay Seth, Finance secretary, Sanjay Malhotra, Governor, Reserve Bank of India,Nirmala Sitharaman,Union Finance Minister,Pankaj Choudhary,Union Minister of State for Finance and Nagaraju Maddirala, Secretary, Department of Financial Services at the 29th FSDC...
Sumit Madan appointed as MD&CEO of Axis Max Life Insurance
Sumit Madan, CDO and CEO designate, Axis Max Life Insurance Sumit had joined Axis Max Life in February 2024 and brings over 25 years of extensive experience in banking establishing and scaling businesses with strategic clarity, people-centric leadership and...
FM asks NIIF to leverage its sovereign-backed design, explore diversified finance sources
Nirmala Sitharaman,Finance Minister The Governing Council appreciated NIIF's evolution as a sovereign-linked asset manager and acknowledged the efforts made over the years to build strong partnerships with marquee investors like Abu Dhabi Investment Authority, pension...
Cryptocurrencies hamper financial stability: RBI
In absence of any regulation, cryptocurrency is not yet illegal in India. India is currently working on a discussion paper for cryptocurrencies and an inter-ministerial group (IMG), comprising officials from RBI, Sebi and finance ministry, is looking into global norms...
RBI focuses on growth with larger-than-expected 50 bps cut in key rate; slashes reserve ratio
Sanjay Malhotra,Governor,Reserve Bank of India Explaining Friday's cut, RBI Governor Sanjay Malhotra said inflation had softened significantly, giving space for continuing policy easing and front loading of rate cuts. The central bank has a 4% inflation target MUMBAI:...