Sanjay Malhotra, Governor, Reserve Bank of India There has also...
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Banks seek power to freeze accounts in illicit transactions cases to rein in cyber fraud
``Banks freeze/block accounts based on internal triggers, however,...
Corporate credit tremors in aftershock of tariff-led stock rout
The move is fueling fears pension funds and other longer-term...
PNB to select an actuarial firm for 23% stake sale in Canara HSBC Life Insurance to HSBC
At present, PNB has stakes in two insurance firms -- PNB MetLife India Insurance Company Limited (PNB MetLife) and Canara HSBC OBC Life Insurance Company Ltd (CHOICE) HSBC Insurance (Asia Pacific) Holdings Limited, that holds 26 percent in Canara HSBC Life Insurance,...
ECB climate stress test flags $71 billion risk to euro zone banks
“Euro area banks must urgently step up efforts to measure and manage climate risk, closing the current data gaps and adopting good practices that are already present in the sector,” said the ECB’s chief supervisor, Andrea Enria A sudden jump in carbon prices coupled...
IBA looks for consultant to to groom senior managers for top positions in PSU banks
It is expected that each year around 75 senior management participants will attend this programme on and off campus involving around 30 days (may include weekends) of various interventions during the 9.5 months leadership development journey Mumbai: The new formed...
PFRDA approves HDFC merger with HDFC Bank
''We wish to inform you that HDFC Limited has today i.e. on July 8, 2022, received an approval from PFRDA regarding change in its status/constitution pursuant to the Scheme in accordance with the PFRDA (Point of Presence) Regulations, 2018, subject to a condition that...
Europe’s resilience test for banks’ climate risk is softer than expected
Banks participating in the exercise had to estimate how events such as floods would impact mortgage values, or how big a hit they faced if corporate clients defaulted after a spike in carbon prices Europe’s Landmark Test of Banks’ Resilience to Climate Risk Is Softer...
RBI gives green signal to HDFC, HDFC Bank merger proposal
Touted as the biggest transaction in India's corporate history, HDFC Bank on April 4 agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40 billion, creating a financial services titan Mumbai: HDFC Bank on Monday said it has got...
HDFC and HDFC Bank merger proposal gets nod from bourses
''The scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Reserve Bank of India, Competition Commission of India, the National Company Law Tribunal and the respective shareholders and creditors of the companies...
DICGC to pay depositors of two co-operative banks in August
Eligible depositors of Shankarrao Pujari Nutan Sahakari Bank will get the payment on August 10, and those of Harihareshwar Sahakari Bank on August 28, according to a DICGC circular DICGC, a wholly-owned subsidiary of the RBI, provides an insurance cover of up to Rs 5...
Russia defaults on foreign-currency sovereign debt for 1st time since 1918
Russia has pushed back against the default designation, saying it has the funds to cover any bills and has been forced into non-payment. As it tried to twist its way out, it announced last week that it would switch to servicing its $40 billion of outstanding sovereign...
FinMin asks banks to explore fintech partnership, co-lending opportunities
The ministry also urged the heads of the public sector lenders to strengthen IT security systems and cybersecurity to check fraud New Delhi: The Finance Ministry has asked public sector banks to explore fintech partnerships and co-lending opportunities to expand their...