Shaktikanta Das,Governor,Reserve Bank of India With the...
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RBI setting up expert committee for ethical use of AI in financial sector
In a bid to ensure “Zero Financial Frauds” RBI has initiated AI /...
RBI cuts banks’ CRR by 50bps to ease liquidity conditions, keeps rates unchanged, lowers GDP growth target
The RBI sharply cut the GDP growth projection to 6.6 per cent from...
Reliance General Insurance to get Rs 200 cr capital infusion from Reliance Capital
Post the capital infusion by RCAP, Reliance General Insurance will also raise an additional Rs 400 crore Tier 2 capital to accelerate growth, sources said The company had said that borderline solvency was creating business hesitation in corporate clients, government...
India needs average annual growth of 7.6 pc to become developed nation by 2047: RBI article
It also said that to become a developed country by 2047, India’s per capita GDP needs to rise by 8.8 times from the current level. In other words, the current per capita GDP of USD 2,500 needs to rise to to USD 22,000 Mumbai: India could become a developed country by...
DICGC asks banks to display its logo, QR code on their websites
''With a view to enhance the awareness about deposit insurance in a focused and sustained manner and in consultation with the RBI, it has been decided that all banks registered with DICGC shall henceforth display the logo of DICGC and QR code linked to the DICGC...
Credit card spending hits record high at Rs 1.4 lakh crore in May; cards in use at 87.4 million
Indicating the rising stress level among individuals, a Transunion Cibil report last week said delinquencies in the credit card portfolio of banks have been rising and have jumped by 66 basis points to 2.94 per cent in March 2023. Credit card spending has hit a record...
Max Life partners with DCB Bank to offer life solutions
Max Life Insurance Company Ltd. has announced its partnership with DCB Bank for providing a variety of life insurance products to the bank's customers, including term, savings, and retirement plans, allowing them to protect their financialfuture and expand their...
FM asks banks to adopt robust risk management practices and mitigating cyber security risks
Finance Minister Nirmala Sitharaman Some of the challenges highlighted during the meeting between Finance Minister Nirmala Sitharaman and heads of public sector banks included the declining share of market share in terms of advances, and low-cost deposit mobilisation...
RBI looking at coming out with fintech regulations: DG Rabi Sankar
RBI deputy governor T Rabi Sankar said that trading in cryptocurrencies carried out by people is not a concern for the RBI, but private cryptocurrencies themselves are a problem area Mumbai: The Reserve Bank is looking at coming out with a regulation for fintech...
Bihar overtakes Tamil Nadu to become biggest MFI market in India
The top ten states now account for 85 per cent of the outstanding portfolio and also include Uttar Pradesh, Karnataka, West Bengal, Maharashtra, Madhya Pradesh, Odisha, Rajasthan and Kerala The average exposure per borrower was also higher at Rs 27,200 in Bihar as...
IndusInd Bank holding co to raise $1.5 bn to fund RCap buy, increase stake in lender to 26 pc
RCap administrator is likely to file the IIHL resolution plan in the NCLT Mumbai this week as the deadline of July 15 to file is approaching. Operating companies under Reliance Capital are into insurance (life, general and health), asset reconstruction and broking...
Bank of England consults on next leg of insurance capital reforms
The Solvency II rules were inherited from the European Union and their reform is seen by the insurance industry and by lawmakers who supported Britain’s exit from the bloc as a key “Brexit dividend” to unlock billions of pounds to invest in infrastructure The Bank of...