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Global banking regulators agree to prioritise climate risk work
The oversight body of the world’s forum for banking regulators met...
Fed leaves rates unchanged, cites rising risk of higher inflation and unemployment
Fed Chair Jerome Powell "Uncertainty about the economic outlook has...
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...
SBI chief says loan demand is bouncing back
Dinesh Kumar Khara, chairman of State Bank of India Companies are steadily drawing down from a $71 billion loan pipeline, said Dinesh Kumar Khara, chairman of State Bank of India That broadly mirrors a trend where loan growth in India's Rs 120 trillion ($1.5 trillion)...
Govt likely to invite preliminary bids for IDBI Bank privatisation next month: Official
The official said while the quantum of stake dilution of both the government and LIC is yet to be decided, the management control in IDBI Bank will be transferred in the strategic sale New Delhi: The government is likely to invite preliminary bids for privatising IDBI...
Russia to use state guarantees to bypass EU ban on insuring maritime oil deliveries to 3rd countries: S&P
Trading, insurance and shipping executives said last week that such a ban could further complicate trade in dry bulk and liquid commodities with Russia, making them more expensive, delaying scrapping of old ships, pushing up global freight rates and encouraging...
Indian fintech market expected to reach USD 150 bn in valuation by 2025: MoS Finance
More than 50 lakh banking correspondents across the country are carrying out ''cash in cash out'' kind of transactions using the system, UIDAI CEO Saurabh Garg said ''There is a need for a proper cyber security system, real time disputes to be solved and emergency...