In terms of risk management practices, the report pointed out that...
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HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case
Madoff’s fraud was estimated as much as $64.8 billion, making it...
Govt plans to hike foreign investment cap in state-run banks to 49%, source says
Foreign interest in India's banking industry is on the rise as...
Cyber fraud victims should be immediately compensated by financial institutions: Parliamentary panel
“What we have suggested is if the consumer files a complaint that they have been the victim of cyber crime fraud, then they should automatically get the money back into their accounts. Up to a certain limit of course. The onus should be on the financial institutions...
Max life ties up with South Indian Bank for selling insurance products
Max Life Insurance has announced its partnership with South Indian Bank, a private sector bank in India. Through this partnership, SIB customers will now have access to an extensive range of Max Life Insurance’s products tailored to meet their specific needs,...
RBI reviews risks to Kotak Mahindra Bank’s stability from its 2 insurance subsidiaries: Report
The bank however has termed claims made in this report "completely incorrect and baseless" Kotak Mahindra's holdings in units - Kotak Mahindra Life Insurance Co. and Kotak Mahindra General Insurance Co. - are also under review as the central bank assesses the banks'...
Reliance General Insurance receives Rs 200 cr capital from its promoter
Rakesh Jain, CEO of Reliance General Insurance said, "With this capital infusion, we are well-equipped to seize opportunities, innovate, and continue providing best-in-class insurance solutions." Mumbai: Reliance General Insurance Company Ltd (RGICL), in a strategic...
Govt pats IRDAI for unveiling a slew of reforms in insurance industry
(L to R) Neerja Kapur, CMD, New India Assurance, Debasish Panda, chairman, IRDAI, Vivek Joshi,secretary, Department of Financial Services at NIA's 105th foundation day celebration in Mumbai on Friday ```The government is very supportive of the amendments and changes...
RBI plans guidance on stress testing for climate vulnerability of banks’ credit portfolio: RBI dy governor
''For this to materialise, central banks can incorporate climate-related risks into their supervisory frameworks and can contribute to the development of frameworks and standards for green finance. These frameworks can help promote transparency, standardization, and...
HDFC Bank to focus on bundled products for its customers: CEO
''Savings accounts, personal loans, insurance cover, SIPs can all be bundled along with a home loan to create a compelling value proposition to the customer, that probably does not exist in the market at the scale at which this is envisaged,'' said HDFC Bank managing...
Reliance General Insurance to get Rs 200 cr capital infusion from Reliance Capital
Post the capital infusion by RCAP, Reliance General Insurance will also raise an additional Rs 400 crore Tier 2 capital to accelerate growth, sources said The company had said that borderline solvency was creating business hesitation in corporate clients, government...
India needs average annual growth of 7.6 pc to become developed nation by 2047: RBI article
It also said that to become a developed country by 2047, India’s per capita GDP needs to rise by 8.8 times from the current level. In other words, the current per capita GDP of USD 2,500 needs to rise to to USD 22,000 Mumbai: India could become a developed country by...
DICGC asks banks to display its logo, QR code on their websites
''With a view to enhance the awareness about deposit insurance in a focused and sustained manner and in consultation with the RBI, it has been decided that all banks registered with DICGC shall henceforth display the logo of DICGC and QR code linked to the DICGC...