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“Our nation has achieved 80pc financial inclusion”: Amit Shah cites World Bank report
World Bank said JAM (Jan Dhan, Aadhar, Mobile) trinity – a...
Bima Manthan: Re/insurers deliberate State Insurance Plan, RBC Framework, RBS Framework and financial inclusion
The two-day gathering of re/insurers and others financial sector...
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...
ICICI Bank receives RBI nod to raise its stake in ICICI Lombard General Insurance by another 4%
The bank currently holds a 48.02 per cent stake in ICICI Lombard General Insurance Company and would acquire at least a 2.5 per cent stake out of the 4 per cent to make the insurer its subsidiary before September 9, 2024 Mumbai: Banking regulator Reserve Bank of...
Centre extends PM crop insurance scheme registration deadline, August 10 last date in UP: Official
So far, more than 3 crore farmers across the country have registered for the PMFBY for 2023 Kharif season, according to the data New Delhi: The Centre has extended the deadline for registration under Pradhan Mantri Fasal Bima Yojana (PMFBY), with the last date for...