The alliance, set up in 2021, was the banking industry’s main body...
Category:
Banking & Bancassurance
Latest
RBI to unveil risk-based deposit insurance premiums for banks: RBI Governor
``I am happy the RBI has brought changes in the existing deposit...
RBI holds rates to assess policy impact, projects higher GDP
Sanjay Malhotra, governor, Reserve Bank of India The central bank...
Global accounting rule ends leeway over operating profit
Banks and insurers will have to include interest, a key part of their business model, in their operating profit, which some already do London: Companies will have to publish standardized operating profit figures from 2027 under new requirements from a global...
Climate change poses challenges for monetary policy, says RBI report
Climate change directly impacts inflation through adverse weather events affecting agricultural production and global supply chains, climate change could impact the natural rate of interest, and the after-effects of climate change might weaken the transmission of...
CBDC transaction volumes down, P2M transactions growing: RBI
Reserve Bank of India deputy governor T Rabi Sankar said there are 46 lakh users and 4 lakh merchants transacting in CBDC right now, and added that as the acceptance of CBDC grows, there has been a growth in the P2M, or peer-to-merchant, transactions Mumbai: The...
Wheat price won’t be affected, vegetable needs to be watched out: RBI Governor on heatwave predictions
Shaktikanta Das,Governor,Reserve Bank of India The RBI Governor said that since wheat harvesting is almost over in the country, any heatwave condition won't impact wheat prices, but the prices of vegetable has to be watched out in wake of the temperatures...
RBI holds key rate steady on robust growth, above target inflation
Shaktikanta Das,Governor,RBI Robust growth provides space for monetary policy to remain focused on bringing inflation down to the central bank's 4% target, said RBI Governor Shaktikanta Das MUMBAI: The Reserve Bank of India held the key repo rate unchanged for a...
Axis Bank says all regulatory nods received for proposed acquisition of shares in Max Life Insurance
Axis Bank proposes to infuse Rs 1,612 crore in Max Life Insurance. Approval for the transaction from the Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA) was received by Max Life through...
Modi pitches for studying a newer banking structure to fund future needs
Prime Minister Narendra Modi There are some challenges confronting the industry along with this, including artificial intelligence and blockchain, which are changing the face of banking, cyber security amid the increasing reliance on digital banking and innovations...
Banks asked to check mis-selling of insurance products, safeguard account holders’ interest: DFS Secy
Vivek Joshi ,Financial Services Secretary Banks have been sensitised on the matter, as the Department of Financial Services (DFS) regularly gets complaints that fraudulent and unethical practices are being adopted by banks and life insurance companies for procuring...
Complaints under RBI’s ombudsman schemes rise 68 pc to over 7 lakh crore in 2022-23
Complaints relating to mobile/electronic banking were the highest contributor to the total number of complaints received against banks as well as non-bank payment system participants, while complaints relating to non-adherence to fair practices code were the highest...
8 lakh bank employees to get 17% annual wage hike, 5-day work week awaits govt approval
For the retired employees, it was agreed that the monthly ex-gratia amount shall be paid in addition to the pension/family pension paid by the Public Sector Banks including SBI, to pensioners and family pensioners, who became eligible to draw pension on or before...