New India Assurance(NIA) has established tie-ups with 316...
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Pradhan Mantri Jeevan Jyoti Bima Yojana:Driving India’s financial inclusion push
R. Doraiswamy, CEO and MD, Life Insurance Corporation Many families...
Banks must prepare for cyber threats posed by AI models like Mythos: Nagaraju
Referring to cyber security concerns, he said Anthropic Mythos AI...
FSIB invites application from pvt sector too for selection of public sector banks’ EDs
Inclusion of candidates from the private sector is a departure from the set procedure, and this is the first time that the Financial Services Institutions Bureau (FSIB) would consider them for selection for more than half a dozen vacancies of EDs expected to be...
AI defining force in risk management, improving operational efficiency, mkt surveillance: SBI Chief
"The next 25 years will not just be about scale, but about intelligent scale. Financial markets are now evolving in the fastest ways possible, becoming more interconnected and complex."CS Setty,chairman, SBI Mumbai:Artificial intelligence will play a central role in...
RBI in talks with global regulators, banks to review Mythos risks, sources say
The Reserve Bank of India's preliminary assessment - just like that of global regulators - suggests Mythos could pose cybersecurity risks by accelerating the discovery and exploitation of software vulnerabilities, the sources, all familiar with the central bank's...
RBI approves Debasish Panda as Bandhan Bank’s part-time chairman
Debasish Panda, part-time chairman, Bandhan Bank The Reserve Bank of India has granted its prior approval for the appointment of Debasish Panda, former chairman of IRDAI as part-time chairman (PTC) of Bandhan Bank, for a period of three years with effect from the date...
Asian regulators stepping up banks’ cybersecurity risks amid Mythos AI Fears
Singapore’s financial regulator is urging banks to plug holes, while South Korea’s government agencies have met to review and discuss how to respond to the risks. In Australia, authorities expect lenders to be vigilant to ensure clients aren’t put at risk by...
Banks act as agents for customers, presenting stale cheques constitutes deficiency in service: SC
A bank receiving cheques for collection acts as an agent of the customer and is under an obligation to exercise due diligence in presenting the instruments within the prescribed validity period. The failure to do so, resulting in the instrument becoming stale, in the...
RBI holds rates,lowers GDP growth for FY 27 to 6.9%; hikes Inflation outlook to 4.6% due to West Asia crisis, spike in crude prices
“Higher input costs associated with an increase in energy prices and international freight and insurance costs, along with supply-chain disruptions that would constrain availability of key inputs for downstream sectors, would impair growth,” RBI Governor Sanjay...
Voluntary retirement a distinct employee right, not mere exit: SC
``It is quite clear, if an employee on or after 1st day of November 1993 completes 20 years of qualifying service, and furnishes a notice of not less than three months to the appointing authority, he may retire voluntarily," the bench noted New Delhi:The Supreme Court...
Govt plans sovereign guarantees on loans to businesses hit by Iran war, sources say
India is planning to provide a guarantee of about 90 per cent on loans up to ₹100 crore ($10.75 million) to lenders in case borrowers default in the aftermath of the crisis in West Asia, both the sources said. New Delhi:The government plans to roll out sovereign...
RBI proposes separate categories of business correspondents, uniformity in wages
It also proposes to bring uniformity in the BC ecosystem with respect to the payment of commission or remuneration they get. Mumbai:The Reserve Bank of India (RBI) on Monday proposed that banking correspondents should be classified into two categories based on their...