Around 20 countries including Germany, the United States, Britain and Canada made similar commitments, but only a few including France have so far implemented them into policy The Dutch government on Thursday said it intends to stop giving companies and banks credit...
Banking & Bancassurance
RBI starts pilot digital currency program for select banks
The e-rupee will be tested for retail use within a month in some locations, the Reserve Bank of India said on Monday. The launch comes as India steps up its fight against private digital currencies. Officials announced a new tax regime this year that decimated volumes...
Banking penetration increased significantly during 1972-2022 period: RBI Deputy Governor
Michael Debabrata Patra,Deputy Governor, Reserve Bank of India There is one commercial bank branch for every 9,000 citizens now from one branch for 40,000 citizens in 1972. Banks today operate around 2.25 lakh customer service points, including over 1.75 lakh ATMs. In...
No govt, LIC veto post privatization of IDBI Bank
The government earlier this month invited bids for the sale of a 60.72 percent stake in IDBI Bank, which is 45.48 percent owned by the government and 49.24 percent by the Life Insurance Corporation of India (LIC). The official said that post-privatization, the...
Govt seeks $7.7 billion value for IDBI Bank in stake sale
After years of trying, the government has only been able to privatise national carrier Air India Ltd. and introduce outside backers to LIC, while its plans to sell refiner Bharat Petroleum Corp Ltd. hit a wall as bidders struggled to find partners. New Delhi: India is...
Axis Bank says followed all rules in Max Life Insurance deal
The statement comes against the backdrop of two orders by the insurance sector watchdog Irdai in the last few days, wherein Max has been fined Rs 3 crore while a penalty of Rs 2 crore has been imposed on the bank regarding the deal on concerns over valuations Mumbai:...
Centre seeks waiver in key norm for IDBI Bank stake sale
Earlier this month, India invited bids for a 60.72% stake in IDBI Bank -- which is 45.48% owned by the government and 49.24% by state-owned Life Insurance Corp (LIC) -- after dragging its feet for years New Delhi; The Indian government is in talks with the market...
Credit Suisse to pay $495 mn in US to settle securities case
Credit Suisse faces a longer list of legal woes. Last week, the prospect of fresh legal risks for the bank arose when US authorities launched a probe investigating whether the bank helped clients hide assets Credit Suisse Group AG agreed to pay $495 million to settle...
SC issues notice on Swamy’s plea for probe into role of RBI officials in bank scams
Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed New Delhi: The Supreme Court on Monday agreed to examine BJP leader Dr Subramanian Swamy's plea seeking...
Lenders permit Aditya Birla Capital to bid for Reliance Nippon Life
The Committee of Creditors (CoC) has approved Aditya Birla Capital Ltd to bid for RNLIC, sources said. Reliance Nippon Life Insurance is a 51:49 joint venture between Reliance Capital and Nippon Life of Japan Mumbai: Lenders to debt-ridden Reliance Capital have...