Union Finance Minister Nirmala Sitharaman is launching Mutual...
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Govt planning to use AI for identifying mule accounts to check cybercrime: Amit Shah
Amit Shah, Union Home Minister Union Home Minister Amit Shah said...
IRDAI chief to meet insurance industry CEOs for Bima Sugam and Bima Manthan on Feb 12-14
Debasish Panda,chairman,IRDAI The IRDAI, on Feb 12, is expected to...
Rs 26,697 cr lying in dormant accounts of banks: Sitharaman
As per information received from the Reserve Bank of India (RBI), as on December 31, 2020, the total number of such accounts in Scheduled Commercial Banks (SCBs) was 8,13,34,849 and the amount of deposits in such accounts was Rs 24,356 crore, Sitharaman said in a...
Over 12k depositors of B’luru-based coop bank receive deposit insurance cover of Rs 401 cr
DICGC has paid the claims of up to Rs 5 lakh without deducting the Rs 1 lakh already paid by the bank and also up to Rs 5 lakh paid by the bank for treatment of critical illness Last year, the government brought cooperative banks under the purview of the RBI by...
LIC to up stake in Kotak to nearly 10 pc
''Kotak Mahindra Bank has received an intimation from Life Insurance Corporation of India (LIC) stating that the Reserve Bank of India had granted its approval to LIC, for increasing its holding in the bank up to 9.99 per cent of the paid-up equity share capital of...
RBI may increase minimum capital for a new universal bank to Rs 1,000 crore, no corporate ownership of banks
Bajaj Group, Piramal Group and Reliance Industries had shown interest in expanding into banking, Mumbai: India's central bank said on Friday it would reform rules on the structure of private sector banks but a source familiar with the matter said the changes would not...
Generali enters exclusive talks to buy Credit Agricole’s La Medical
Italian major Assicurazioni Generali SpA entered into exclusive talks with French banking major Credit Agricole CAGR.PA to buy the bank's health insurance unit La Medicale, both companies said in a joint statement on Wednesday. Generali would also buy the...
NITI floats idea of full-stack digital banks, seeks comments by Dec 31
Digital banks or DBs are banks as defined in the Banking Regulation Act, 1949 (B R Act), the paper said."In other words, these entities will issue deposits, make loans and offer the full suite of services that the B R Act empowers them to. As the name suggests...
Wall Street’s $22 Trillion Ticking Carbon Time Bomb
Banks in Turkey, Russia, Indonesia, India and China are most exposed to carbon-transition risk, with three sectors—manufacturers, transportation companies, and power producers and other utilities—accounting for more than 75% of the potential bad loan exposure, Moody’s...
Singapore’s DBS suffers second day of online banking disruption
Singapore is the biggest retail and wealth management market for DBS, which also has operations in places including Hong Kong, Indonesia and India. Singapore: DBS Group Holdings Ltd , Southeast Asia's largest bank, is facing disruptions in its online banking services...
JPMorgan named most important bank to health of world’s financial system
Being included in the table means having to hold additional capital and undergo more intense supervision to avoid a repeat of taxpayer bailouts in the banking crisis over a decade ago. In practice, the lenders typically hold capital buffers that are already above FSB...
Vulnerability in PNB server exposed customer data for about seven months: CyberX9
''Punjab National Bank kept severely compromising the security of funds, personal and financial information of over 180 million (all) its customers for about the last 7 months. PNB only woke up and fixed the vulnerability when CyberX9 discovered the vulnerability and...