Earlier this month, the proposed sale of a 60.72 per cent majority...
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Gulf banks face $307 billion deposit flight risk if war worsens, S&P says
An S&P report said it had seen no evidence of major outflows of...
IDBI Bank strategic sale scrapped as financial bids below reserve price: Sources
Currently, the government and state-owned LIC together hold a 94.71...
Banks must use UPI to create more digital opportunities to empower millions: FM Sitharaman
Nirmala Sitharaman, Union Finance Minister As banks benefit from technology, they need to periodically learn to mitigate risks and improve customer service, credit assessments and fraud detection using technology, the Finance Minister noted Mumbai: As the unified...
AU Small Finance Bank and Niva Bupa join hands to offer health covers
AU Small Finance Bank, the country's largest small finance bank today announced its partnership with Niva Bupa Health Insurance to offer health insurance products to AU SFB’s customers. Building on Niva Bupa’s existing relationship with Fincare Small Finance Bank (now...
90% of financial institutions focus on AI, GenAI for innovation: PwC India
"Collaborative innovation is now seen as a key driver for fintechs, enabling faster speed-to-market and delivering tangible benefits like new product offerings, increased productivity, and reduced operational costs," said Vivek Belgavi, Partner and Leader - Fintech,...
DBS looks for bancassurance partnership in India and Taiwan
The Singapore-based lender is working with Goldman Sachs Group Inc. as an adviser on potential bancassurance agreements for those markets, the people said, asking not to be identified because the deliberations are private DBS Group Holdings Ltd. is considering forming...
August auto sales dip due to excess rainfall, FADA urge banks to tighten funding to dealers
Despite this monthly setback, the sector witnessed a modest 2.88 percent year-on-year (YoY) growth compared to August 2023 New Delhi: Auto retail sales in India experienced a significant decline in August 2024, primarily due to excessive rainfall during this monsoon...
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...