Under Bima –ASBA facility, transfer of money from the prospect to...
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DICGC’s cover on bank deposit beyond Rs 5 lakh, Bill allowing Composite licenses soon, says DFS Secy
Union Finance Minister Nirmala Sitharaman is launching Mutual...
Govt planning to use AI for identifying mule accounts to check cybercrime: Amit Shah
Amit Shah, Union Home Minister Union Home Minister Amit Shah said...
FinMin asks banks, insurance firms to expedite public grievances resolution
M Nagaraju, Secretary, Department of Financial services At the outset, the Secretary reiterated the Prime Minister's direction given in the Pragati meeting held on December 26, that all the Senior officers at the level of Chairman/ MD/ ED of PSBs/PSICs should review...
High employee attrition of 25% in private banks pose operational risk: RBI
"High attrition and employee turnover rate pose significant operational risks, including disruption in customer services, besides leading to loss of institutional knowledge and increased recruitment costs. In various interactions with banks, the Reserve Bank has...
Climate change risks impacting financial system, need India-specific data: RBI’s Dy Gov
“Over the last few years, we have taken several incremental measures in this direction. It started with the setting up a dedicated group within the Bank to assess climate change risks and foster a robust ecosystem for sustainable finance,” said Reserve Bank of India...
Banking frauds rise in H1FY25, amount involved jumps 8-time: RBI report
The RBI said frauds present multiple challenges for the financial system in the form of reputational risk, operational risk, business risk and erosion of customer confidence with financial stability implications Mumbai: The number of bank frauds witnessed a...
India’s savings rate shoots past global average: SBI report
“Due to various measures, India's financial inclusion improved significantly and now more than 80 per cent of adults in India have a formal financial account, compared to about 50 per cent in 2011, which is improving the financialisation of the savings rate of Indian...
Reliance Nippon Life starts negotiation with IndusInd Bank on bancassurance tie up
"Bancassurance was a missing link in our structure and we have started exploring the possibility with IndusInd Bank and we are already in dialogue to strike a win-win deal for all stakeholders," Reliance Nippon Life Insurance CEO Ashish Vohra Mumbai: Reliance Nippon...
Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision
Sanjay Malhotra,Governor,Reserve Bank of India Malhotra, who faces a slew of challenges, including the unsettling of the inflation-growth balance and the continuous pressure on the rupee, said, “Continuous improvements and kaizens (improvement)” are essential for any...
IRDA may unveil new regulations to check insurers’ overdependence on promoter banks
In some cases, parent banks of insurers are selling over three-fourths of the policy, the official, who did not wish to be identified, told reporters in Mumbai Mumbai: Insurance industry watchdog Irdai wants insurers to diversify their distribution channels and may...
Malhotra takes over as 26th RBI Guv says focus would be trust growth stability
Sanjay Malhotra Governor, Reserve Bank of India "As we have to be conscious of the fact that we do maintain continuity and stability, we cannot be stuck to it, and we have to be alert and agile to meet challenges," Malhotra said in his first interaction as Governor...
RBI approves Burmans’ additional 26% stake in Raligare
This move will increase the holding of Burman family in Religare Enterprises Ltd (REL) and will surpass 56 per cent, enabling them to become majority owners in the financial services firm New Delhi: Shares of Religare Enterprises climbed nearly 4 per cent on Tuesday...