Nirmala Sitharaman, Union Finance Minister The FSDC discussed...
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State Bank of India reports cyberattack involving nearly 3,900 customer records
SBI is investigating the breach after a preliminary analysis...
Govt reconstitutes FSIB with 6 new bankers and insurers under chairmanship of former IAS officer Subhas Chandra Lal Das
The three experts for insurance companies are- Siddhartha...
China to pump $45 billion into state banks, insurers in capital-boosting push
Last week, the National Financial Regulatory Administration published draft amendments to the Insurance Law. The first such revisions since 1995 propose tighter oversight of insurers’ shareholders, higher minimal capital thresholds, a wider scope of insurers that...
Blue Machines AI launches Aurora, a BFSI-native speech-to-text model
Aurora is designed for real-time financial conversations in India, where customers frequently switch languages, combine English financial terminology with regional languages, and communicate over noisy or low-bandwidth telephone connections. Bengaluru: Blue Machines...
HDFC Bank CEO Jagdishan resigns amid governance concerns
Sashidhar Jagdishan, MD &CEO, HDFC Bank The issue of Jagdishan's reappointment has been a subject of intense speculation, especially after the surprising resignation of non-executive chairman Atanu Chakraborty in March this year, citing concerns on ethics and...
Court approves Bank of America’s $72.5 million settlement with Epstein accusers
The lawsuit is one of several accusing Epstein’s banks of ignoring suspicious financial transactions related to Epstein, for concern they might lose his business. A federal judge said on Thursday he would grant final approval to Bank of America’s $72.5 million...
HDFC Bank faces class-action lawsuit in US
The lawsuit alleges that HDFC promised Maharashtra State Road Development Corporation (MSRDC) a 6.01 per cent interest rate to attract big its deposits, which constituted a hefty 2.51 per cent markup over the standard 3.5 per cent savings rate offered to regular...
India’s Financial Inclusion Index rises from 53.9 in 2018 to 67 in 2026
The Pradhan Mantri Jan Dhan Yojana (PM-JDY) accounts have grown four times since 2015 to 59.09 crore and deposits have risen 20-fold to Rs 3,16,514 crore.Nearly 45.95 crore PM-JDY accounts are in rural and semi-urban areas, while 13.14 crore are in urban and...
SEBI drops fraud allegations against Max Financial, Axis Bank in Rs 3,912-crore case
The scrutiny originated with the Insurance Regulatory and Development Authority of India (IRDAI). In November 2022, IRDAI informed SEBI that MFSL and Axis Bank had entered into a series of buy-and-sell transactions involving unlisted equity shares of Max Life. IRDAI...
Sitharaman asks public sector banks to focus on youth; provide cool, simple banking to suit their needs
Finance Minister Nirmala Sitharaman Sitharaman also pointed to the perception gap between public and private sector banks among younger customers, saying private banks appeared to have an image of being banks that were "cool enough as well", and urged PSBs to keep...
Govt to announce high-level banking for Viksit Bharat panel
Nirmala Sitharaman,Union Finance Minister The Finance Minister said the Department of Financial Services (DFS) had worked on seven themes that would be important for taking the banking and financial sector forward. The themes of discussion are -- banking for youth,...
‘India was, is and will be one of fastest-growing economies’: SBI Research
The report noted that the number of taxpayers earning Rs 100 crore and above rose 39 per cent to 576 in assessment year 2026, while those earning Rs 1 crore and above increased 14 per cent to 5.36 lakh. New Delhi: India has demonstrated economic resilience through...