Reserve Bank of India on Thursday has accorded approval to our bank...
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StanChart sets $200 billion new wealth assets target, focuses on Chinese and Indian wealthy
StanChart’s assets under management sourced from wealthy Chinese...
LS passes Banking Laws (Amendment) Bill allowing 4 nominees in bank accounts
Today, PSU banks have Rs 2.37 lakh crore deposited in the PM Jan...
90% of financial institutions focus on AI, GenAI for innovation: PwC India
"Collaborative innovation is now seen as a key driver for fintechs, enabling faster speed-to-market and delivering tangible benefits like new product offerings, increased productivity, and reduced operational costs," said Vivek Belgavi, Partner and Leader - Fintech,...
DBS looks for bancassurance partnership in India and Taiwan
The Singapore-based lender is working with Goldman Sachs Group Inc. as an adviser on potential bancassurance agreements for those markets, the people said, asking not to be identified because the deliberations are private DBS Group Holdings Ltd. is considering forming...
August auto sales dip due to excess rainfall, FADA urge banks to tighten funding to dealers
Despite this monthly setback, the sector witnessed a modest 2.88 percent year-on-year (YoY) growth compared to August 2023 New Delhi: Auto retail sales in India experienced a significant decline in August 2024, primarily due to excessive rainfall during this monsoon...
Govt takes a host of measures for LGBTQI+ community
Department of Financial Services (DFS) has issued an advisory that there are no restrictions for persons of the queer community to open a joint bank account and also to nominate a person in queer relationship as a nominee to receive the balance in the account, in the...
Lenders to Reliance Capital accuse IIHL of using delaying tactics
According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought. It was not even a part of conditions set out by the NCLT while approving the resolution plan on February 27, 2024...
Govt taking various measures at policy level to help fintech sector: PM Modi
Prime Minister Narendra Modi Addressing the Global Fintech Fest 2024 in Mumbai, the Prime Minister also asked the regulators to take more measures to stop cyber frauds and further increase digital literacy among people.The Prime Minister also said that in the last 10...
India’s FinTech sector has received $6 bn investment in last 2 years: RBI chief
Shaktikanta Das,Governor,RBI RBI Governor Shaktikanta Das said to build a financial system that serves the broader society, it was essential to give priority to digital financial inclusion. While significant strides have been made in expanding financial inclusion, the...
Indian lenders lag global peers on cybersecurity spends, BCG Says
Digital payment frauds saw a more than fivefold jump to 14.6 billion rupees ($175 million) in the year ended March 2024 from the previous fiscal year, according to the Reserve Bank of India Mumbai: Rising cases of online thefts and frauds will push Indian banks that...
Private US banks can embrace UPI for faster digital payments: Fed Reserve Governor
Christopher Waller,Governor,Federal Reserve “The technology-driven payments revolution in India has been enabled by a public-private partnership to build the ‘technology stack’ of digital platforms that has broadened financial inclusion and done so at low costs,”...
Govt targets to open more than 3 crore PMJDY accounts during current financial year: Sitharaman
"Our target is to open more than 3 crore PMJDY accounts during the current financial year. The average bank balance per account in March 2015 was Rs 1,065, which has now increased to Rs 4,352. Around 80 per cent of the accounts are active, As many as 66.6 per cent of...