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Banking & Bancassurance
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SBM Bank, ICICI Prudential Life forge bancassurance alliance
SBM Bank India and ICICI Prudential Life Insurance Company have...
Fraudsters use customer’s mobile phone to hack Himachal co-op bank server steal Rs 11 cr
The fraudsters allegedly hacked the server through a mobile phone...
IDBI Bank bidders need to seek MHA security clearance in the first stage of bidding process
The DIPAM last week invited EoIs from prospective bidders of IDBI Bank offering to sell 60.72 per cent stake together with LIC. The last date for putting in bids is December 16 New Delhi: In a first, the government has made it mandatory for interested buyers of IDBI...
RBI announces digital rupee. E-Rupee to launch soon on pilot basis
The concept note also discusses key considerations such as technology and design choices, possible uses of the digital rupee, and issuance mechanisms, among others Mumbai: The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific...
RBI plans to extensively use AI, ML to improve regulatory supervision
The supervisory jurisdiction of the RBI extends over banks, urban cooperative banks (UCB), NBFCs, payment banks, small finance banks, local area banks, credit information companies and select all India financial institutions The Reserve Bank is planning to extensively...
Asian Development Bank to provide $2.3-$2.5 bn for flood ravaged Pakistan
According to the federal government's estimate, the floods have caused a collective loss of more than USD 40 billion Islamabad: The Asian Development Bank on Wednesday announced that it will provide USD 2.3 to 2.5 billion for relief operations in the wake of...
FinMin to launch special campaign for financial inclusion from Oct 15
''To further deepen Financial Inclusion (FI) framework, @DFS_India will organise a special campaign from 15th October 2022 to 26th November 2022, which will initially be rolled out at the Gram Panchayat (GP) level in following seven districts across India-- Cuttack,...
Regulations for offline payment aggregators to be at par with online peers, says RBI
RBI, Governor Shaktikanta Das said there will be ''convergence on standards of data collection and storage'' after the move, meaning that such companies will not be able to store details like those of credit and debit cards of a customer Mumbai: Regulations for...
RBI raises key policy rate by 50 bps to rein in inflation, slashes growth target to 7.2% from 7%
RBI retained the inflation projection at 6.7 percent for the current fiscal while slashing the real GDP growth estimate to 7 percent from the earlier forecast of 7.2 percent for FY'23. India's annual retail inflation rate accelerated to 7% in August, driven by a surge...
Govt hikes interest rates on some small savings schemes by up to 30 bps in Q3
Senior Citizen Savings scheme will earn 20 basis points more to 7.6 per cent from the existing rate of 7.4 per cent during the October-December period, a finance ministry notification said New Delhi: The government on Thursday raised rates on some small savings...
DBS Bank India provides credit insurance cover to Tata Metaliks in collaboration with HDFC ERGO and Atradius
Through the collaboration between DBS, HDFC ERGO and Atradius, this solution enables corporates to transfer the risk of their account receivables onto an insurer while getting financing against those insured receivables from a bank Mumbai: DBS Bank India Limited today...
Axis Bank to invest bRs 49.9-Rs 69.9 crore for a 9.94% stake in Go Digit Life Insurance
Axis Bank's stake purchase would value the startup's upcoming life insurance business at $90 million. Axis currently offers some insurance products in partnership with Max Financial Mumbai: Indian private lender Axis Bank Ltd said on Tuesday it has signed a...