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Nearly 6.6 lakh new PM Jan Dhan Yojana accounts opened in 1 month
A staggering 55.44 crore Jan Dhan accounts have been opened in...
Shriram Life Insurance signs bancassurance deal with ESAF Small Finance Bank
Shriram Life Insurance Company (SLIC) has partnered with ESAF Small...
SBI allows UPI interoperability with digital Rupee for seamless transactions
"By bridging the gap between CBDC and the extensively used UPI platform, SBI aims to revolutionize payments made in India. With this move in the realm of digital payments, the future of CBDC integration appears promising," SBI said Mumbai: The State Bank of India has...
Curious share transfer case involving Axis Bank, Max Financial referred to RBI, SEBI: IRDAI
Last October, the Insurance Regulatory and Development Authority of India (IRDAI) had penalised Axis Bank Rs 2 crore for the share transactions which was done mainly to get excess remuneration as corporate agent of Max Life than permissible under the rules Chennai:...
Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM
Nirmala Sitharaman,Union Finance Minister Some of the features of PMJDY are, one Basic Savings Bank Deposit (BSBD) account to every unbanked adult, overdraft limit of Rs 10,000, and a free Rupay debit card with inbuilt accident insurance cover of Rs 2 lakh (Rs 1 lakh...
Portfolio management industry poised for expansion; asset base to grow up to 25 pc over next 3-5 yrs: Experts
Going by Sebi data, assets under management (AUM) of the portfolio management industry stood at Rs 28.50 lakh crore at the end of June, as compared to Rs 28.07 lakh crore at the end of the preceding month. On a year-on-year basis, the total assets managed by PMs...
SBI chief Dinesh Khara likely to get extension as govt mulls relaxing retirement age of PSB heads, MDs
Dinesh Khara,Chairman,State Bank of India "There is a discussion to increase the age limit for retirement of chiefs of PSBs . Simultaneously, discussions are on for raising superannuation age for managing directors of PSBs to 62 years from 60 years," the official said...
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...