Sanjay Malhotra,Governor,Reserve Bank of India Malhotra, who faces...
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IRDA may unveil new regulations to check insurers’ overdependence on promoter banks
In some cases, parent banks of insurers are selling over...
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...
Portfolio management industry poised for expansion; asset base to grow up to 25 pc over next 3-5 yrs: Experts
Going by Sebi data, assets under management (AUM) of the portfolio management industry stood at Rs 28.50 lakh crore at the end of June, as compared to Rs 28.07 lakh crore at the end of the preceding month. On a year-on-year basis, the total assets managed by PMs...
SBI chief Dinesh Khara likely to get extension as govt mulls relaxing retirement age of PSB heads, MDs
Dinesh Khara,Chairman,State Bank of India "There is a discussion to increase the age limit for retirement of chiefs of PSBs . Simultaneously, discussions are on for raising superannuation age for managing directors of PSBs to 62 years from 60 years," the official said...
LIC ties up with Saraswat Cooperative Bank
Life Insurance Corporation(LIC) has tied-up with Saraswat Cooperative Bank, a scheduled bank headquartered at Mumbai, to distribute its products. The bank has a vast network of 294 branches spread over six states and is catering to over 2 million customers. It has...
First time in 4 years, MFIs overtake banks in microlending with 40 pc share
Given the inherent nature of the MFI asset class, these lenders are prone to event-based risks such as political, geographical uncertainties and are susceptible to natural calamities, Care Ratings said After a gap of four years, standalone MFIs overtook banks in...
RBI selects McKinsey and Company, Accenture Solutions to use AI, ML to improve regulatory supervision
The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision over banks and NBFCs. For this purpose, the central bank plans to hire external experts Mumbai: The...
Odisha Govt to open ‘CSP Plus’ banking outlet in 4,373 unbanked gram panchayats
Stating that financial inclusion is a high priority agenda of the state government, the minister said banking penetration in the state is quite low as out of the 6,798 GPs, around 65% (4,373 GPs) do not have brick and mortar branches The Odisha Cabinet chaired by...
There should be realistic green ratings to assess actual environmental impact of projects: RBI Governor
''Green flows today are dependent on ESG (Environment, Social, Governance) ratings. Recent research shows that these ESG ratings do not adequately reflect financial and non-financial materialities of these investments. Therefore, there is a need to ensure that 'green...
RBI holds rates steady but eyes food price spike; signals tighter policy
Shaktikanta Das,Governor,Reserve Bank of India "Liquidity plays a major role with regards to inflation – both in pushing up inflation and controlling inflation," RBI Governor Shaktikanta Das said, explaining the decision."While inflation has moderated, the job is...
Wall Street WhatsApp, US texting fines by SEC exceed $2.5 billion in
As part of the settlements, the companies admitted that their employees had used platforms like iMessage, WhatsApp and Signal to discuss business. The companies didn’t maintain sufficient records, according to the SEC. The CFTC said it found similar violations. Wells...
Star Health ties-up with Standard Chartered Bank
Star Health and Allied Insurance has collaborated with Standard Chartered Bank to offer health's insurance products through their extensive branch network across India. Star Health will make its top-notch health insurance products readily accessible to customers via...