M Rajeshwar Rao,Deputy Governor , RBI According to an official...
Category:
Banking & Bancassurance
Latest
India to become world’s third largest economy soon, says RBI Guv; hails PM Jan Dhan Yojana
Sanjay Malhotra, Governor, Reserve Bank of India The RBI governor...
Embeded Resilience: Banks need to manage climate, cyber and geo-political risks, says BCG Report
C S Setty, chairman, State Bank of India, said, “India’s Digital...
Eco-Survey: Banks and insurers must avoid mis-selling and address grievances to keep financial system healthy
Commercial banks and insurance companies, even as they aim to achieve greater market penetration, must keep in mind levels of financial literacy in the country, avoid over lending mis-selling and address grievances, such that the financial cycle stays healthy as long...
Household savings are choosing mutual funds, insurance and pension funds over banks to invest savings: RBI Governor
``While bank deposits continue to remain dominant as a percentage of the financial assets owned by the households, their share has been declining, with households increasingly allocating their savings to Mutual Funds, Insurance Funds, and Pension Funds" New Delhi:...
LIC ties up with IDFC First Bank for bancassurance
LIC has tied-up with IDFC First Bank, under corporate agency arrangement. This tie-up will facilitate more than 1 crore customers of IDFC First Bank who will now be able to buy LIC policies through the bank. The partnership will have a combined strength of a vast...
Consumer commission slaps Rs50k fine on insurance company for deficiency in services
Taking note of the evidence before it, the commission comprising President Inder Jeet Singh observed that the denial of the claim by the insurance company was "arbitrary, without any valid ground and contrary to the terms and conditions of the policy", besides...
Banks to publish crypto asset exposure from 2026, global regulators say
“These disclosures aim to enhance information availability and support market discipline,” the Basel Committee on Banking Supervision said in a statement Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from...
IDFC First Bank raises Rs 3,200 cr by selling shares to LIC, 5 other insurers
The names of the six companies to whom shares have been allotted are Life Insurance Corporation of India, HDFC Life Insurance Company, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, ICICI Lombard General Insurance Company and SBI...
Government working on aggregation of CA firms, accounting standards for insurance sector
Apart from the aggregation of CA (Chartered Accountants) firms, the corporate affairs ministry is also working on having accounting standards for the insurance sector and Limited Liability Partnerships (LLPs), Corporate Affairs Secretary Manoj Govil said New Delhi:...
Australia approves ANZ’s $3.3 bln buyout of Suncorp Bank
ANZ CEO Shayne Elliott said the deal will allow it to add scale to its retail and commercial businesses, enabling ANZ to more effectively compete in the Australian market Australia on Friday gave the go-ahead for ANZ Group’s A$4.9 billion ($3.26 billion) buyout of...
Centre asks depts to timely review employees’ working to prematurely retire non-performers
In an order, the Department of Personnel and Training (DoPT) asked ministries concerned to direct the public sector undertakings (PSUs), banks, autonomous institutions and statutory bodies under their administrative control to undertake the exercise of periodic review...
RBI Governor underscores need to eliminate biases in algorithms as artificial intelligence and machine learning
RBI Governor Shaktikanta Das highlighted efforts by the RBI to harness digital footprints and computing power to analyze expectations, sentiment indicators, and policy credibility from alternative data sources. The exponential growth in digital data and storage...