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IRDAI forms high powered panel under former SBI chief Dinesh Khara to suggest measures for insurance reforms
Dinesh Khara, former chairman, State Bank of India Panel will look...
IRDAI unveils Bima-ASBA for issuing life and health policies from March 1
Under Bima –ASBA facility, transfer of money from the prospect to...
PSBs restructure over Rs 58,500 cr loan advanced to 9.8 lakh MSME accounts amid pandemic: Govt
While, as many as 8.5 lakh accounts of individual borrowers of over Rs 60,000 crore have also been restructured New Delhi:Public sector banks (PSBs) effected restructuring of 9.8 lakh accounts of micro, small and medium enterprises, due to the impact of Covid-19...
No proposal to merge public sector general insurance companies: MoS Karad
Minister of State for Finance Bhagwat K Karad In a written reply to the Rajya Sabha, Minister of State for Finance Bhagwat K Karad said there is no proposal under consideration of the government at present for merger of public sector general insurance companies. New...
DBS Bank India introduces an industry-first digital & paperless trade financing solution
The bank now digitally validates the e-Way Bill (i.e. proof of movement of goods) for the purpose of establishing the genuineness of underlying trade transactions. The adoption of this approach has enabled DBS to process transactions quicker without the need to obtain...
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...