The RBI said frauds present multiple challenges for the financial...
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Banking & Bancassurance
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India’s savings rate shoots past global average: SBI report
“Due to various measures, India's financial inclusion improved...
Reliance Nippon Life starts negotiation with IndusInd Bank on bancassurance tie up
"Bancassurance was a missing link in our structure and we have...
Max Life ties up with AU SFB selling life insurance products
Max Life Insurance Company has entered into a bankassurance alliance with AU Small Finance Bank (AU SFB), This collaboration will allow AU SFB’s digitally inclined customers to access the full spectrum of life insurance plans offered by Max Life.
Mutual funds attract 6% of household savings in FY23, shows RBI data
Net inflows into life insurance funds and small savings increased by 15 per cent and 7.5 per cent, respectively. Household investments in mutual funds (MFs) reached a record Rs 1.8 trillion during financial year 2023 (FY23), largely driven by strong inflows through...
RBI says 15 large NBFCs to comply with enhanced regulatory requirements
Besides LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, others in the list include L&T Finance, Piramal Capital & Housing Finance, Cholamandalam Investment and Finance Company Mumbai: Reserve Bank of India on Thursday said 15 large NBFCs,...
“Our nation has achieved 80pc financial inclusion”: Amit Shah cites World Bank report
World Bank said JAM (Jan Dhan, Aadhar, Mobile) trinity – a combination of bank accounts for all, Aadhaar, and mobile connectivity -- has propelled financial inclusion rate from 25 per cent in 2008 to over 80 per cent of adults in past six years, a journey which...
Bima Manthan: Re/insurers deliberate State Insurance Plan, RBC Framework, RBS Framework and financial inclusion
The two-day gathering of re/insurers and others financial sector players also discussed on financial inclusion, micro insurance and focused on synergies that can be shared between the wide network of Micro Finance Institutions, non-banking finance companies, and Small...
India on track to become solid global player due to strong financial regulations say experts
The RBI Deputy Governor said India was in a "sweet spot" to grow robustly, despite global turmoil and monsoon risks to growth, and to do so, developing credit markets was essential Kozhikode (Kerala): India is on the path to become a solid global player due to robust...
Govt invites bids to engage asset valuer for IDBI Bank sale
The Department of Investment & Public Asset Management (DIPAM), on behalf of Gol and LIC, on Monday floated an RFP to engage a ''reputed Asset Valuer Entity -registered with Insolvency & Bankruptcy Board of India (IBBI), to act as the Asset Valuer for...
SBI allows UPI interoperability with digital Rupee for seamless transactions
"By bridging the gap between CBDC and the extensively used UPI platform, SBI aims to revolutionize payments made in India. With this move in the realm of digital payments, the future of CBDC integration appears promising," SBI said Mumbai: The State Bank of India has...
Curious share transfer case involving Axis Bank, Max Financial referred to RBI, SEBI: IRDAI
Last October, the Insurance Regulatory and Development Authority of India (IRDAI) had penalised Axis Bank Rs 2 crore for the share transactions which was done mainly to get excess remuneration as corporate agent of Max Life than permissible under the rules Chennai:...
Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM
Nirmala Sitharaman,Union Finance Minister Some of the features of PMJDY are, one Basic Savings Bank Deposit (BSBD) account to every unbanked adult, overdraft limit of Rs 10,000, and a free Rupay debit card with inbuilt accident insurance cover of Rs 2 lakh (Rs 1 lakh...