Generali will be holding a 74% stake while Central Bank of India...
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Finmin asks public sector banks to monetise investments in subsidiaries via listing on bourses
For example, the country's biggest lender State Bank of India may...
Sitharaman asks PSBs to develop credit models to fund Indian made small modular nuclear reactors
Lto R -M. Nagaraju,secretary,Department of Financial Services,...
World’s biggest bank ICBC forced to trade via USB stick
The incident spotlights a danger that bank leaders concede keeps them up at night — the prospect of a cyberattack that could someday cripple a key piece of the financial system’s wiring, setting off a cascade of disruptions. Even brief episodes prompt bank leaders and...
ICBC manually settling Treasury trades days after cyberattack -sources
ICBC was trying to minimize the risk impact and losses after the attack, which several experts blamed on hacking group Lockbit The Industrial and Commercial Bank of China's access to an electronic settlement platform for U.S. Treasury securities remained suspended on...
India First Life gets GIFT City IFSC registration; to commence operation soon
The registration will enable India First Life to expand its reach globally, the company said in a statement. Mumbai: India First Life Insurance on Wednesday said it has received the registration to undertake life insurance business in the Gujarat International Finance...
Cyber experts express concern about data security in India
Digital Personal Data Protection (DPDP) Act, 2023 has instilled more confidence among multi-national corporations (MNCs), though they have been concerned about security in India, Businesses are always shy about sharing information that is critical for protecting...
Global investors and businesses have to factor terror risk into their decision making: FM
`Businesses can no longer be just attracted by policies or by the openness of an economy. The risk that the investors and businesses will have to factor into their decision-making is going to be strongly influenced by the impact of global terror,’’ Nirmala...
EU banks told to review clients in historic ESG crackdown
Global banking and financial stability organizations are all reviewing reporting and capital frameworks, though none has moved as fast as the EU in setting firm requirements. The Basel Committee on Banking Supervision expects to publish a proposed framework for...
Jio Financial set to launch suite of loan products in billionaire Ambani’s finance push
The company's insurance broking arm has also partnered with 24 insurance companies, while its payments bank division, which relaunched savings account and bill payment services, plans to launch debit cards Bengaluru: India's Jio Financial Services JFS plans to launch...
RBI slaps Rs 5.39 crore penalty on Paytm PB for violating series of norms
The central bank also found non-compliance with certain provisions related to 'RBI Guidelines for Licensing of Payments Banks', 'Cyber security framework in banks' and 'Securing mobile banking applications including UPI ecosystem' Mumbai: The Reserve Bank of India on...
RBI bars Bank of Baroda from more customers on bob World app
"This action is based on certain material supervisory concerns observed in the manner of onboarding of their customers onto this mobile application. Any further onboarding of customers of the bank on the 'bob World' application will be subject to rectification of the...
RBI retains repo rate; GDP growth at 6.5%, inflation at 5.4%
Shaktikanta Das,Governor,RBI Das said taking into account the economic factors the MPC has predicted GDP growth at 6.5 per cent in FY24 As regards the inflation rate, the MPC forecast was 5.4 per cent for 2023-24 taking into account the various domestic issues...