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...
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...
SBI, ICICI Bank, HDFC Bank continue to remain systemically important banks: RBI
SIBs are perceived as banks that are 'too big to fail (TBTF)'. This perception of TBTF creates an expectation of government support for these banks in times of distress. Due to this perception, these lenders enjoy certain advantages in the funding markets. Mumbai: The...
Interest rates on small savings schemes unchanged for Q4FY22
Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the fourth quarter as well New Delhi:The government on Friday kept interest rates on small savings...
HSBC gets approval to buy out China life JV
HSBC has got clearance from the Shanghai office of the China Banking and Insurance Regulatory Commission to buy the remaining 50% in its venture HSBC Life China, the bank said HSBC said on Thursday it had received regulatory approval in China to take full ownership of...
Govt inducts three insurers as part time members into BBB
The new members are Usha Sangwan, former MD, Life Insurance Corporation representing the life segment, A.V. Girija Kumar, former CMD, Oriental Insurance Company(OIC), for non-life, Sujay Banarji, former member,(Distribution), for re-insurance or actuarial science New...
Govt appoints non-official directors on boards of NIA,GIC Re and OIC
However, the ministry of finance has not selected any body for the IPO bound Life Insurance Corporation(LIC) which has provisions for two independent directors New Delhi:The government has appointed independent directors on board of various public sector insurance...
Axis Bank emerges as highest bidder for Citi consumer biz
The business comprises credit cards, retail banking, home loans and wealth management. The bank has 35 branches in the country and employs about 4,000 people in the consumer banking business.According to the sources, the valuation could be around USD 2 billion (about...
RBI favours total ban on cryptocurrencies
Nearly 15 million Indian retail investors representing 1.8 per cent of the population have invested over $6.6 billion in crypto assets Government is not likely to bring a bill on cryptocurrency in the ongoing winter session of the Parliament Lucknow: RBI discussed...