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HDFC Bank gets RBI approval for up to 9.5% stake in IndusInd Bank
In an exchange filing on Monday, HDFC Bank said that several of its...
BNP Paribas to pay $3.5 billion for increasing its stake in Ageas to 22.5% from 14.9%
The deal involves France’s biggest bank selling its 25% stake in AG...
Govt takes a host of measures for LGBTQI+ community
Department of Financial Services (DFS) has issued an advisory that there are no restrictions for persons of the queer community to open a joint bank account and also to nominate a person in queer relationship as a nominee to receive the balance in the account, in the...
Lenders to Reliance Capital accuse IIHL of using delaying tactics
According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought. It was not even a part of conditions set out by the NCLT while approving the resolution plan on February 27, 2024...
Govt taking various measures at policy level to help fintech sector: PM Modi
Prime Minister Narendra Modi Addressing the Global Fintech Fest 2024 in Mumbai, the Prime Minister also asked the regulators to take more measures to stop cyber frauds and further increase digital literacy among people.The Prime Minister also said that in the last 10...
India’s FinTech sector has received $6 bn investment in last 2 years: RBI chief
Shaktikanta Das,Governor,RBI RBI Governor Shaktikanta Das said to build a financial system that serves the broader society, it was essential to give priority to digital financial inclusion. While significant strides have been made in expanding financial inclusion, the...
Indian lenders lag global peers on cybersecurity spends, BCG Says
Digital payment frauds saw a more than fivefold jump to 14.6 billion rupees ($175 million) in the year ended March 2024 from the previous fiscal year, according to the Reserve Bank of India Mumbai: Rising cases of online thefts and frauds will push Indian banks that...
Private US banks can embrace UPI for faster digital payments: Fed Reserve Governor
Christopher Waller,Governor,Federal Reserve “The technology-driven payments revolution in India has been enabled by a public-private partnership to build the ‘technology stack’ of digital platforms that has broadened financial inclusion and done so at low costs,”...
Govt targets to open more than 3 crore PMJDY accounts during current financial year: Sitharaman
"Our target is to open more than 3 crore PMJDY accounts during the current financial year. The average bank balance per account in March 2015 was Rs 1,065, which has now increased to Rs 4,352. Around 80 per cent of the accounts are active, As many as 66.6 per cent of...
Pradhan Mantri Jan Dhan Yojana@10: World’s Largest Financial Inclusion Mission
PMJDY, the world’s largest successful mission has already crossed the 53 crore beneficiaries mark Through PMJDY, one can avail benefits of multiple schemes via Direct Benefit Transfer (DBT). They include Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri...
Reliance Cap lenders raise concerns over Rs 7,300 cr debt term sheet offered by IIHL
The committee of creditors (CoC) has expressed concerns that bankers to IndusInd International Holdings Ltd (IIHL) have imposed numerous conditions for offering Rs 7,300 crore debt and some of these conditions can only be met by IIHL after the resolution plan has been...
60-65 % of India’s household gold loans market still untapped, goes to unorganized market: Jefferies
Banks have traditionally dominated the organized gold loan market, holding over 75 percent of the market share. Nearly 80 percent of these are given for agricultural gold loans. In contrast, NBFCs have focused on retail gold loans against jewelry, with their share...