Sanjay Malhotra,Governor , RBI "We will continue to encourage...
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Financial inclusion: Massive surge in active women borrowers in India
A recent report by NITI Aayog revealed that at least 27 million...
Nippon Life Insurance may pick up minority stake IndusInd Bank
Nippon Life Insurance Co.’s India unit is considering buying a...
U.S. banks urge regulators to be flexible on climate-risk rules
The sweeping proposal applies to lenders with over $100 billion in assets. It touches on everything from board room governance, liquidity, credit and operational risk management, to the way banks project hypothetical future losses on their books and their ability to...
Europe’s banks fund oil and gas expansion despite IEA warning -report
An IEA report in May said there should be no investment in new oil and gas fields in order to have a 50% chance of capping global warming at 1.5 degrees Celsius above the pre-industrial average. The financing comes despite 24 of the banks themselves pledging to...
Axis Bank set to buy Citigroup’s India retail unit for $2.5 bn: Report
For Citigroup Chief Executive Officer Jane Fraser, the planned India retail sale is part of a restructuring to simplify the U.S. lender, do away with its retail banking operations in 13 countries across Asia and Europe, and focus on high-growth businesses such as...
Cryptos a threat to financial stability; value not even a tulip: RBI Guv
Private cryptocurrencies or whatever name you call it are a threat to our macroeconomic stability and financial stability. They will undermine the RBI's ability to deal with issues of financial stability and macroeconomic stability, Das said Mumbai: Governor...
RBI holds interest rates steady, projects 7.8% GDP growth for 2022-23
Shaktikanta Das,governor, Reserve Bank of India The monetary policy committee (MPC) held the lending rate, or the repo rate, at 4%. The reverse repo rate, or the key borrowing rate, was kept unchanged at 3.35% "Overall, taking into consideration the outlook for...
European, U.S. regulators tell banks to prepare for Russian cyberattack threat
Now the European Central Bank, led by former French minister Christine Lagarde and which has oversight of Europe's biggest lenders, is on alert for the threat of cyber attacks on banks launched from Russia, the people said FRANKFURT/LONDON: The European Central Bank...
Former Warburg banker gets jail term in German fraud trial
He is the second person to receive a jail sentence for trading activity that thrived during the years after the financial crash and cost Germany more than five billion euros ($5.72 billion) The fraud involved trading shares rapidly around a syndicate of banks,...
Sanjay Malhotra appointed as DFS Secy
Malhotra's s appointment as the Financial Services Secretary has taken effect immediately as the post is vacant after Debasis Panda,retired from the post on 31st Jan. The government had given Rajesh Verma, secretary, ministry of corporate affairs the additional charge...
Govt yet to decide on banks to be privatised, say MoS Finance Karad
Minister of State for Finance Bhagwat Karad The government had in Budget 2021-22 announced its intent to privatise two public sector banks (PSBs) and one of the public sector general insurance companies during the year. ''As per inputs received from Department of...
Digital currency: India catches up with global fad
The currency, called 'digital rupee', will be issued by the Reserve Bank in digital form and will be fungible with physical currency. The exact regulation governing this Central Bank Digital Currency (CBDC) is yet to be finalised New Delhi: Finance minister Nirmala...