"The policy rates will continue to be at low levels for a long...
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RBI may hire more specialists for cybersecurity controls as digital risks multiply across banking system
The watchdog also seeks to add more officers to its supervision...
Govt mulls allowing 49% FDI in PSU banks
M. Nagaraju, secretary, Department of Financial Services Foreign...
StanChart sets $200 billion new wealth assets target, focuses on Chinese and Indian wealthy
StanChart’s assets under management sourced from wealthy Chinese and Indians with global needs rose by about 40% and 20%, respectively, in the 12 months ending September, its data shows. LONDON/HONG KONG: Standard Chartered (StanChart) will target $200 billion in new...
LS passes Banking Laws (Amendment) Bill allowing 4 nominees in bank accounts
Today, PSU banks have Rs 2.37 lakh crore deposited in the PM Jan Dhan Accounts. In 2014, the average balance of the PM Jan Dhan Accounts was Rs 1,065. It has now increased to Rs 4,397. The Banking Laws (Amendment) Bill, 2024, proposes to allow a bank account holder to...
Insurers seek zero-coupon bonds to manage long-term risks
Zero-coupon bonds could help insurance companies better manage their long-term liabilities, as they step up offerings of guaranteed savings products Mumbai: Indian insurers have asked the government to issue new sovereign debt instruments, including zero-coupon bonds,...
Panel comprising RBI academia preparing new base year for GDP
The government has decided to update the base year for compilation of Gross Domestic Product (GDP) from 2011-12 to 2022-23, said the Minister of State for Statistics & Programme Implementation Rao Indjerjit Singh in a written reply to Rajya Sabha New Delhi: A...
RBI asks banks to bring down inoperative accounts urgently report their numbers quarterly
Expressing concern over the rising sums of money lying in such accounts, the RBI said its supervisory inspections have revealed a slew of problems due to which accounts are becoming inoperative or get frozen Mumbai: The RBI on Monday asked banks to "urgently" reduce...
Bandhan Life expands its strategic partnership with Bandhan Bank into Northern India
Bandhan Life has announced the expansion of its strategic partnership with Bandhan Bank into Northern India. This move is part of Bandhan Life's ongoing national rollout, following successful launch of operations in Eastern India. Customers across Delhi can buy...
RBI approves Central Bank buying stakes of Generali group’s Indian companies
The Reserve Bank of India (RBI) has approved state owned Central Bank of India's entry into the insurance business through a joint venture with Generali group under Future Generali India Insurance Company Ltd (FGIICL) and Future Generali India Life Insurance...
After FM, Irdai chief urges bankers to avoid mis-selling of insurance
“I wish to say this for the due consideration of the bank boards , sale of insurance by banks has raised concerns of instances of mis-selling and I would say this has contributed indirectly to cost of borrowing for the customers . So banks will have to look at this ,...
RBI cautions public about ‘deepfake’ video of governor being circulated on social media
In a statement Tuesday, RBI said it has come to their notice that fake videos of the Governor (Shaktikanta Das) are being circulated in social media that claim launch of or support to some investment schemes by the RBI Mumbai:The Reserve Bank of India (RBI) has...
Strengthen framework to curb unethical practices RBI Guv to bank boards
"While such practices may yield short-term gains, they ultimately expose the bank to significant long-term risks, including reputational damage, supervisory scrutiny, and financial penalties,” RBI Governor Shaktikanta Das said in a keynote address at the Conference of...