Generali will be holding a 74% stake while Central Bank of India...
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Finmin asks public sector banks to monetise investments in subsidiaries via listing on bourses
For example, the country's biggest lender State Bank of India may...
Sitharaman asks PSBs to develop credit models to fund Indian made small modular nuclear reactors
Lto R -M. Nagaraju,secretary,Department of Financial Services,...
RBI hikes rates 25 bps as expected, hints more could come
Shaktikanta Das,governor,RBI RBI projects India's GDP growth at 6.4 per cent for 2023-24 Average retail inflation in India is projected to be at 5.3 during the next financial year "The global economic outlook does not look as grim now as it did a few months ago....
Banks’ exposure to Adani group “insufficient”, face limited risk: Fitch
''Fitch Ratings believes that Indian banks' exposure to the Adani group is insufficient in itself to present a substantial risk to the banks' standalone credit profiles,'' the rating agency said in a note. New Delhi: Indian banks' exposure to Adani group is...
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...