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RBI assures customers and investors on IndusInd Bank’s financial health
Earlier this week, IndusInd Bank disclosed a discrepancy in...
SBI to launch centre for financing AI, fintech, e-commerce industries
The project will help diversify the work of the bank’s project...
Axis Bank eyes 10% stake in Go Digit life insurance business: Report
Axis is planning to take a 10% stake for around $9 million in the start-up's upcoming life insurance business, effectively valuing the business at $90 million, said the two sources, who declined to be named as the talks were private. Mumbai: Axis Bank, the largest...
Govt may invite preliminary bids for IDBI Bank stake sale next month
Currently, the government holds 45.48 per cent in the bank, and Life Insurance Corp of India, which is currently the promoter of the bank, owns a 49.24 per cent stake. "Strategic sale is uncharted territory. There are a lot of issues to be addressed, including an open...
ADB partners with global Insurers to mobilize $1 billion in lending capacity to financial institutions
ADB has signed an initial 3-year partnership with Tokio Marine Group , AXA XL, Chubb, Liberty Specialty Markets, and Allianz Trade MANILA: The Asian Development Bank (ADB) has signed an agreement with five leading global insurers which will mobilize up to $1 billion...
RBI mulls setting up of fraud registry to check banking frauds
Such a database will help prevent these fraudsters from repeating the fraud as the websites or phone numbers would be blacklisted, RBI executive director Anil Kumar Sharma said on Monday New Delhi: As part of its efforts to strengthen customer protection, Reserve Bank...
Financial inclusion major step towards inclusive growth: FM
Nirmala Sitharaman,Finance Minister The success of the Pradhan Mantri Jan Dhan Yojana (PMJDY) since August 28, 2014 is reflected in terms of opening of over 46 crore bank accounts with deposit balance of Rs 1.74 lakh crore with its expanded coverage to 67 per cent...
Axis Bank stake in Max Life Insurance likely to rise to 20% in 6-9 months: Tripathy
''The bank currently holds about 13 per cent and we are hopeful that over the next 2-3 quarters they would be able to take it to 20 per cent,'' Tripathy New Delhi: Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 6-9...
Personal retail loan disbursements rise 42 pc at end-March 2022: Study
The total portfolio outstanding of retail industry increased from Rs 71 lakh crore (March 2020) to Rs 80 lakh crore (March 2021), and further to Rs 89 lakh crore as of March 2022 Private banks experienced the highest growth of portfolio outstanding with a 32 per cent...
DICGC to make payments to depositors of 17 co-op banks in October
The cooperative banks from Maharashtra are: Sahebrao Deshmukh Co-operative Bank, Sangli Sahakari Bank, Raigad Sahakari Bank, Nashik Zilla Girna Sahakari Bank, Saibaba Janata Sahakari Bank, Anjangaon Surji Nagari Sahakari Bank, Jaiprakash Narayan Nagari Sahakari Bank,...
Gradual approach to bank privatisation would result in better outcomes: RBI report
“The gradual approach to privatisation adopted by the government can ensure that a void is not created in fulfilling the social objective of financial inclusion”. Mumbai: The Reserve Bank of India (RBI) on Friday issued a clarification on a report related to the...
RBI seeks public feedback on changes in payment systems
The focus of RBI's initiatives in the payment systems has been to ease frictions which may arise from systemic, procedural or revenue-related issues. While there are many intermediaries in the payments transaction chain, consumer complaints are generally about high...