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PSB consolidation to gain momentum in 2026 as govt eyes big world-class banks
As far as the insurance sector is concerned, the year saw the...
RBI postpones 2nd phase of quicker cheque clearing mechanism
In the second phase, the banks are required to clear cheques within...
Govt to seek bids for its $7.1 billion majority stake in IDBI Bank
The federal government and state-owned Life Insurance Corp of India together own about 95% in the lender. The government will sell 30.48% of its stake in the bank, while LIC will offload 30.24%, along with transfer of management control. India is poised to seek bids...
RBI trims policy interest rate by 25bps to 5.25pc, sets higher growth rate at 7.3% for FY 26
The Indian economy is facing a "rare goldilocks" period. Since October, India's economy has experienced rapid disinflation leading to a breach of the central bank's lower threshold of tolerance. Given these macroeconomic conditions, "policy space" exists to support...
No proposal for merger or disinvestment of public sector banks: Govt
Replying to a question in the Rajya Sabha on whether the government has plans to disinvest four PSBs or to merge with larger banks by 2026, Minister of State for Finance, Pankaj Chaudhary, said: "Presently, no proposal on merger or disinvestment of Public Sector Banks...
SC entrusts CBI with pan-India probe into digital arrest cases, asks States to accord assent
On November 3, the top court said it needs to deal with digital arrest cases with an iron hand, while expressing shock over the scale of such cybercrime cases in the country, with over Rs 3,000 crore allegedly extorted from victims, including senior citizens. New...
RBI governor releases five-year national financial inclusion strategy
Sanjay Malhotra,,Governor,Reserve Bank of India The 'National Strategy for Financial Inclusion (NSFI): 2025-30 emphasises a synergistic ecosystem approach, improving the quality and consistency of last-mile access and effective usage of financial services.These...
FM Sitharaman lays foundation for offices of 15 PSU banks, insurance companies in Amaravati
Sitharaman described the gathering of all major PSU banks and insurance companies on one financial street as a historic first for any state capital in India Amaravati:Union Finance Minister Nirmala Sitharaman and Andhra Pradesh Chief Minister Chandrababu Naidu on...
Govt returns Rs1,887 crore unclaimed financial assets to citizens in 2 months
Unclaimed financial assets such as insurance policy claims, bank deposits, dividends, shares, and income from mutual funds often remain unclaimed due to a lack of awareness or outdated account details New Delhi: The Secretary of the Department of Financial Services,...
Sitharman meets trade unions for pre-budgetary consultations
The unions demanded that the government must withdraw the proposal permitting 100% FDI in the insurance sector and stop the privatisation of Life Insurance Corporation and the four PSU general insurance companies New Delhi: Finance Minister Nirmala Sitharaman has met...
Probe agencies can’t freeze bank accounts involved in cyber fraud transactions:HC
A probe agency can put the disputed amount on lien, but cannot freeze the entire account, said a bench of Justices Anil Pansare and Raj Wakode at Nagpur in a judgment passed on Thursday Mumbai: In a significant ruling, the Bombay High Court has held that probe...
Banks must simplify tech to protect customers, says Kotak Mahindra Bank’s data protection chief
With the rise of AI-enabled scams and digital impersonation, he warned that banks face an increasingly complex threat landscape. Criminals no longer rely solely on direct financial theft; instead, they exploit sensitive data to pose as legitimate institutions. New...