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Panel comprising RBI academia preparing new base year for GDP
The government has decided to update the base year for compilation...
RBI asks banks to bring down inoperative accounts urgently report their numbers quarterly
Expressing concern over the rising sums of money lying in such...
Pradhan Mantri Jan Dhan Yojana@10: World’s Largest Financial Inclusion Mission
PMJDY, the world’s largest successful mission has already crossed the 53 crore beneficiaries mark Through PMJDY, one can avail benefits of multiple schemes via Direct Benefit Transfer (DBT). They include Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri...
Reliance Cap lenders raise concerns over Rs 7,300 cr debt term sheet offered by IIHL
The committee of creditors (CoC) has expressed concerns that bankers to IndusInd International Holdings Ltd (IIHL) have imposed numerous conditions for offering Rs 7,300 crore debt and some of these conditions can only be met by IIHL after the resolution plan has been...
60-65 % of India’s household gold loans market still untapped, goes to unorganized market: Jefferies
Banks have traditionally dominated the organized gold loan market, holding over 75 percent of the market share. Nearly 80 percent of these are given for agricultural gold loans. In contrast, NBFCs have focused on retail gold loans against jewelry, with their share...
78 % of consumers choose digital banking over cash transactions: Report
Jamie Dimon, CEO, JPMorgan Chase Banks are also feeling the heat from fintech companies like PayPal, Stripe, and Venmo. Jamie Dimon, CEO of JPMorgan Chase, has called these fintechs "enormous competitive threats" to traditional banking New Delhi: 78 percent of...
Household real income continued to decline in recent months: Report
The report added that for now, however, the decline in real HH income, which accounts for 78 percent of GDP, suggests that any recovery will be gradual at best. This will likely continue to weigh on real GDP growth and present challenges for the banking sector New...
Bancassurance: Bajaj Allianz General ties up with HSBC India
Bajaj Allianz General Insurance and HSBC India have announced a strategic partnership to offer general insurance products and services to HSBC’s vast customer base in India, ``Through this collaboration, we aim to provide comprehensive insurancesolutions to HSBC’s...
IRDAI forms task force to address challenges and drive growth in surety bond market
Debasish Panda, chairman, IRDAI "Surety bonds play a crucial role in supporting India's infrastructure development. By addressing the challenges and fostering collaboration, we can unlock the full potential of this valuable financial instrument. Today’s discussions...
Court not super regulator says HC on Swamy’s plea against Axis-Max transaction
In his petition, Swamy alleged Axis Bank made undue profits totalling Rs 4,000 crore from the sale and purchase of equity shares of Max Life in a non-transparent manner and in violation of the applicable regulations New Delhi: Stating that it should not act as a...
Government, Banks, regulators and security agencies need to collaborate to check cyber security for banking industry
L to R- Vivek Joshi, secretary, Department of Financial Services, Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs and M. Nagaraju, secretary-designate, DFS. at at a meeting in New Delhi to review the performance of public sector Banks (PSBs) The...
Banks tapping alternative sources as deposit growth slows: RBI
In the primary market, certificates of deposit (CD) issuances amounted to Rs 3.49 lakh crore during 2024-25 (up to August 9), significantly higher than Rs 1.89 lakh crore in the corresponding period of the previous year Mumbai: Banks are tapping alternative sources...