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Zolve raises $251 million in its latest equity and debt financing round
The neo bank, which was launched in 2021 and has over 750,000...
RBI to promote innovations in payment systems with soft touch regulations:Governor
Sanjay Malhotra,Governor , RBI "We will continue to encourage...
India’s annual green finance is just one-fourth of its needs, finds study
The report estimates that for India to achieve its Nationally Determined Contributions (NDCs) under the Paris agreement, the country requires approximately Rs 162.5 lakh crore (USD 2.5 trillion) from 2015 to 2030, or roughly Rs 11 lakh crore (USD 170 billion) per...
Sebi proposes blue bonds concept for sustainable financing activities
''India has tremendous scope for deployment of blue bonds in various aspects of the blue economy'' like oceanic resource mining, sustainable fishing, national offshore wind energy policy and in the area of blue flag beach eco-tourism model that provide the tourists...
42% Indians experienced financial fraud in last three years: Report
Storing sensitive financial details on a phone's contact list, email, or computer poses a a significant risk to cyber attacks, especially if the gadget is stolen or falls into wrong hands New Delhi: While digitisation of payments and banking undoubtedly has benefitted...
RBI’s financial inclusion index rises; showing growth across all segments
The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion. In August last year, the central bank said it has been...
IRDA approves 30% expense of management(EoM) limit for general insurers, allows Corporate Agent to have 9 tie-ups
Debasish Panda,chairman,IRDAI Corporate agents are allowed to place commercial lines and general insurance covers without any limit on the sum insured The Insurance Marketing Firms (IMF) will be allowed to engage Insurance Sales Persons (ISP) for the purpose of...
Banks’ climate risk assessment to include their reputational risks:RBI
Regulated entities (REs) should address financial risks arising from climate change and environmental degradation, through its risk management framework, in line with Board-approved risk appetite statement, risk management strategy and business plan, said the RBI...
Indian neobanking market expected to witness over 3-fold jump to reach $11.65 billion
With the Indian growth story counting heavily on its young population and more than 50 per cent of the population below the age of 28, the report assesses future consumer trends will be dictated by the first generation of truly digital natives in the banking sector...
As credit demand grows, banks scramble for deposits
"In the next few months if the trend continues then we will have no other option but to raise deposit rates because the market conditions are also not very favourable for us to go to the market to raise growth capital," said a senior executive at a state-owned bank...
Bank fraud declines to Rs 3,785 crore in FY22: Bhagwat Karad
As per the RBI data, frauds involving the amount of Rs 11,800 crore were detected in 2020-2021, the Minister of State for Finance said in a written reply to the Lok Sabha New Delhi: The amount involved in frauds reported by banks and select financial institutions...
Preparing Indian Banks for Tomorrow
Shaktikanta Das, Governor, Reserve Bank of India The banks will face competition from Fintechs which are already making their presence felt within the financial services space With advancement in digital banking, cybersecurity will remain an important challenge for...