Sanjay Malhotra, Governor, Reserve Bank of India RBI has lowered...
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Global credit starts to wobble as market pain spreads
Overnight in Asia, the Markit Itraxx Asia ex-Japan index,...
FinMin to implement ‘One State-One RRB’ soon to achieve better efficiency
As of 31 March 2024, 43 RRBs are operating through a network of...
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...
RBI postpones implementation of certain norms related to cards by 3 months
As per the Master Direction, card issuers must seek One Time Password (OTP) based consent from the cardholder for activating a credit card, if the same has not been activated by the customer for more than 30 days from the date of issuance Mumbai: The Reserve Bank on...
Stake dilution in life insurance subsidiary only when valuation is attractive: Canara Bank MD
(L to R) Anuj Mathur,MD and CEO, Canara HSBC Life Insurance,L V Prabhakar,MD & CEO, Canara Bank,Hitendra Dave, CEO,.HSBC India at a media meet in Mumbai Mumbai:Public sector lender Canara Bank may look at diluting its stake in Canara HSBC Life Insurance at a time...
Paritosh Tripathi to succeed Kandpal as new MD & CEO of SBI General Insurance
Paritosh Tripathi, MD & CEO,(Designate), SBI General Insurance With a solvency ratio of 1.85 during the year, SBI General had recorded a total gross written premium (GWP) of Rs 9260 crore, up 11 %, in FY 2021-22 and has maintained its market...