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Govt moving ahead with IDBI Bank disinvestment plan in current fiscal: DIPAM Secy
Arunish Chawla,Secretary ,Department of Investment and Public Asset...
India, as fastest growing economy, is ideal investment destination: RBI Governor
Sanjay Malhotra,Governor,Reserve Bank of India . Malhotra...
47.8 cr Jan Dhan accounts opened: FM
Pradhan Mantri Jan Dhan Yojana (PMJDY) is the national mission for financial inclusion to ensure access to financial services -- savings and deposit accounts, remittance, credit, insurance and pension in an affordable manner. New Delhi: As many as 47.8 crore Jan Dhan...
FSIB recommends names of CEOs for BOB and BoI
Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, on Saturday recommended elevation of Executive Director (ED) Debadatta Chand as managing director of Bank of Baroda Bureau recommended Union...
Banks allowed to use face recognition, iris scan for transactions: Reports
The verification is not mandatory and is intended for cases where another government identification card used for tax purposes, the Permanent Account Number (PAN) card, is not shared with banks. New Delhi: The Indian government is allowing banks to verify individual...
Axis Bank revises pact with Max Fin, to buy more 7% stake in Max life
The revision, the stock exchange filing said, has been done consequent to the guidance received by Max Life from insurance regulator IRDAI.Discounted cash flow refers to the estimated value of an investment based on future cash flows Mumbai: Axis Bank on Tuesday said...
Financial inclusion appears to be positively correlated with per capita income growth: IMF
IMF said, "For example, the launch of the Pradhan Mantri Jan Dhan Yojana programme in India in 2014, one of the world's largest financial inclusion initiatives to date, is one prominent example of India's national-level commitment to advancing financial inclusion."...
Govt gets multiple preliminary bids for buying 61 pc stake in IDBI Bank
The government and LIC together are looking to sell 60.72 per cent in IDBI Bank and had invited bids from potential buyers in October. The government has received multiple preliminary bids for strategic sale of about 61 per cent stake in IDBI Bank. ''Multiple...
RBI allows 6 entities to test fintech products to deal with financial frauds under sandbox scheme
The six entities are -- Bahwan Cybertek, Crediwatch Information Analytics, enStage Software (Wibmo), HSBC in collaboration with Wibmo, napID Cybersec and Trusting Social Mumbai: Six entities, including HSBC and Creditwatch, have been allowed to test their fintech...
Sebi allows govt stake in IDBI Bank to be reclassified as public post sale
The government had requested Sebi to treat its residual stake in IDBI Bank as a financial investment since it would not exercise any control over the bank or have any special rights The government would also not have any representation on the bank's board The...
JPMorgan sued by Ray-Ban maker unit over cyber theft
Essilor Manufacturing (Thailand) Co., which operates a plant in Thailand for EssilorLuxottica SA, sued the bank in April in federal court in New York, claiming JPMorgan was aware of a pattern of fraudulent transactions that led to the theft and failed to notify the...
SBI,ICICI Bank, HDFC Bank continue to remain systemically important banks: RBI
The framework for dealing with D-SIBs was issued in July 2014. The framework requires the RBI to disclose the names of banks designated as Domestic Systemically Important Banks (D-SIBs) starting from 2015 and place these lenders in appropriate buckets depending upon...