"The report envisions a financial ecosystem where encouraging...
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Banks to clear cheques within few hours from Oct 4: RBI
To improve the efficiency of cheque clearing and reduce settlement...
Mule Account Menace: Lucknow’s local youths fall prey to global cyber fraud network
The funds come from a range of cybercrimes in India: online...
DBS drops plans to form an insurance partnership in India and Taiwan, bids fail to match value expectations
DBS was working with Goldman Sachs Group Inc as it weighed forming insurance partnerships in India and Taiwan, and some products in Singapore, in a transaction that could have been valued at a few hundred million dollars. DBS Group Holdings Ltd has shelved plans to...
Insurance SaaS platform Heph partners with Capri Global for distribution
Heph, India's largest Insurance SaaS Platform and a Girnar Finserv Entity has announced its partnership with Capri Global Capital known by the brand name Capri Loans, one of the Indian NBFCs. Capri has chosen Heph as its technology partner owing to its comprehensive...
India poised to remain fastest growing major economy in FY26: RBI
The RBI flagged global financial market volatility, geopolitical tensions, trade fragmentation, supply-chain disruptions and climate-induced uncertainties as factors posing downside risks to the growth outlook and also upside risks to the inflation outlook. Mumbai:...
RBI to continue with supervisory measures for early risk identification
The central bank would also focus on enhancing cyber resilience and capabilities of Supervised Entities (SEs) by implementing the recommendations of the inter-regulatory Working Group, which has uniform baseline cybersecurity guidelines for financial entities, RBI...
RBI proposes to use biz correspondent network to tackle KYC inoperative account issues
"In order to further ease the process for the convenience of customers, the instructions regarding updation/periodic updation of KYC are being amended with the intent , inter alia, to allow BCs to facilitate in the process of KYC and KYC updation," he draft circular...
SBM Bank, ICICI Prudential Life forge bancassurance alliance
SBM Bank India and ICICI Prudential Life Insurance Company have entered into a bancassurance partnership to offer an array of life insurance products to the bank's customers. This tie-up will enable the bank to cater to its customers a diverse set of solutions ranging...
Fraudsters use customer’s mobile phone to hack Himachal co-op bank server steal Rs 11 cr
The fraudsters allegedly hacked the server through a mobile phone application of a customer, who holds an account at the bank's Hatli branch in Chamba district Shimla: Fraudsters allegedly used a customer's mobile phone to hack the Himachal Pradesh State Co-operative...
Global banking regulators agree to prioritise climate risk work
The oversight body of the world’s forum for banking regulators met on Monday to take stock of the committee’s work on climate-related financial risks and agreed to prioritize efforts to understand financial risk implications of extreme weather events, the Bank for...
Fed leaves rates unchanged, cites rising risk of higher inflation and unemployment
Fed Chair Jerome Powell "Uncertainty about the economic outlook has increased further," the FOMC said at the end of a two-day meeting during which officials agreed unanimously to keep the central bank's benchmark interest rate steady in the 4.25%-4.50% range...
Banks tighten cyber security network to ward off any threat
"We have strengthened the cyber security mechanism… we have created a 24 hours war room to diffuse any cyber attack… we are prepared for any eventuality," Punjab National Bank MD and CEO Ashok Chandra said New Delhi: Banks have tightened their cyber security network...