A staggering 55.44 crore Jan Dhan accounts have been opened in...
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Shriram Life Insurance signs bancassurance deal with ESAF Small Finance Bank
Shriram Life Insurance Company (SLIC) has partnered with ESAF Small...
India’s financial inclusion index improves, surges to 67 from 64.2 in March 2024: RBI
It captures the level of financial inclusion using data from...
RBI brings 30 banks on UDGAM portal to help search for unclaimed deposits
The UDGAM portal has been developed by RBI for use by members of the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place Mumbai: The Reserve Bank of India (RBI) has brought 30 banks on board its...
India becomes 4th-highest funded fintech startup ecosystem globally
The sector witnessed significant growth in specific segments with alternative lending, banking tech and RegTech emerging as top performers in the first half this year Bengaluru: India’s fintech sector saw a 68 per cent surge in funding in the July-September period...
After NCLT snub, Torrent Investment once again knocks SC’s doors
In a fresh Letter of Urgency, Torrent Investment has stated that during the pendency of its appeals before the SC, the Committee of Creditors (COC) of Reliance Capital have not only conducted the second round of auction, but approved the resolution plan of IIHL and...
RBI extends deadline for deposit,exchange of Rs 2000 banknotes till Oct 7
The central bank said that from October 8, Rs 2000 banknotes can continue to be exchanged by individuals at the 19 RBI Issue Offices up to a limit of Rs 20,000 at a time Mumbai: The Reserve Bank of India(RBI) on Saturday said that the deadline for deposit/exchange of...
JPMorgan pays $75 million to settle lawsuit over Jeffrey Epstein ties
US Virgin Islands Attorney General Ariel Smith said the settlement was a "historic victory for survivors and for state enforcement, and it should sound the alarm on Wall Street about banks' responsibilities under the law to detect and prevent human trafficking." Last...
India’s economic growth threatened as household savings hit 16-year low
“The household sector is consuming by borrowing more,” said Rupa Rege Nitsure economist with L&T Finance Holdings Ltd. This happens when income level stays stagnant but inflation creeps up. The recovery is not broad-based — while a section splurges on luxury...
Max Life ties up with AU SFB selling life insurance products
Max Life Insurance Company has entered into a bankassurance alliance with AU Small Finance Bank (AU SFB), This collaboration will allow AU SFB’s digitally inclined customers to access the full spectrum of life insurance plans offered by Max Life.
Mutual funds attract 6% of household savings in FY23, shows RBI data
Net inflows into life insurance funds and small savings increased by 15 per cent and 7.5 per cent, respectively. Household investments in mutual funds (MFs) reached a record Rs 1.8 trillion during financial year 2023 (FY23), largely driven by strong inflows through...
RBI says 15 large NBFCs to comply with enhanced regulatory requirements
Besides LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, others in the list include L&T Finance, Piramal Capital & Housing Finance, Cholamandalam Investment and Finance Company Mumbai: Reserve Bank of India on Thursday said 15 large NBFCs,...
“Our nation has achieved 80pc financial inclusion”: Amit Shah cites World Bank report
World Bank said JAM (Jan Dhan, Aadhar, Mobile) trinity – a combination of bank accounts for all, Aadhaar, and mobile connectivity -- has propelled financial inclusion rate from 25 per cent in 2008 to over 80 per cent of adults in past six years, a journey which...