Lto R--Ajay Seth, Finance secretary, Sanjay Malhotra, Governor,...
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Sumit Madan appointed as MD&CEO of Axis Max Life Insurance
Sumit Madan, CDO and CEO designate, Axis Max Life Insurance Sumit...
FM asks NIIF to leverage its sovereign-backed design, explore diversified finance sources
Nirmala Sitharaman,Finance Minister The Governing Council...
SC issues notice on Swamy’s plea for probe into role of RBI officials in bank scams
Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed New Delhi: The Supreme Court on Monday agreed to examine BJP leader Dr Subramanian Swamy's plea seeking...
Lenders permit Aditya Birla Capital to bid for Reliance Nippon Life
The Committee of Creditors (CoC) has approved Aditya Birla Capital Ltd to bid for RNLIC, sources said. Reliance Nippon Life Insurance is a 51:49 joint venture between Reliance Capital and Nippon Life of Japan Mumbai: Lenders to debt-ridden Reliance Capital have...
99% of Indian villages have now a bank branch, banking outlet or a ‘banking mitra’ within 5 km radius: PM Modi
Narendra Modi,Prime Minister Today the number of branches per one lakh adult citizens in India is more than countries like Germany, China and South Africa”, he added The PM informed that fintech is at the heart of India's policies and efforts, and it is playing a key...
Inter-Regulatory Technical Group on FinTech issues norms for approving hybrid regulatory Sandbox
In order to facilitate testing of innovative products/services falling within the regulatory ambit of more than one financial sector regulators viz. RBI, SEBI, IRDAI, IFSCA and PFRDA, a Standard Operating Procedure (SOP) for Standard Operating Procedure for...
Financial bids for IDBI Bank likely to be invited by March, sale process to conclude next fiscal: Officials
Private sector banks, foreign banks, Reserve Bank of India(RBI) registered non-banking finance companies, Sebi-registered Alternative Investment Funds (AIFs), a fund/investment vehicle incorporated outside India would be allowed to submit bids, either individually or...
Finance ministry mulls steps to curb cheque bounce cases: Report
Some of the steps suggested before taking legal recourse included debiting another accounts of the cheque issuer if his or her account is short of funds to honour the instrument, sources said The other suggestions were treating cheque bounce as default of loan and...
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...