Sanjay Malhotra,Governor,Reserve Bank of India Malhotra, who faces...
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IRDA may unveil new regulations to check insurers’ overdependence on promoter banks
In some cases, parent banks of insurers are selling over...
Malhotra takes over as 26th RBI Guv says focus would be trust growth stability
Sanjay Malhotra Governor, Reserve Bank of India "As we have to be...
RBI eyeing ‘phased introduction’ of digital currency: Deputy Governor
RBI Deputy Governor T Rabi Sankar said the idea of Central Bank Digital Currency (CBDC) is ripe, and many central banks in the world are working towards it.
RBI to unveil first financial inclusion index: Das
The index will have parameters across the three dimensions, including access, usage and quality, he said, adding “work on FII is underway and the index will be published very shortly by the Reserve Bank”.
Physical bank branches will continue to play key role in rural areas: Bankers
“Don’t believe that rural areas are backward. The penetration of the internet is 33 per cent and that of smartphones is 37 per cent in rural India,” IndusInd Bank Managing director and Chief Executive Officer Sumant Kathpalia said.
India bans Mastercard from issuing new cards in data storage row
In a notification, the RBI said Mastercard had not complied with data storage rules from 2018 that require foreign card networks to store Indian payments data “only in India” so the regulator can have “unfettered supervisory access”.
Bank employees working in sensitive positions to get surprise leaves of at least 10 days
In a communication to lenders, including rural development banks and cooperative banks, the RBI asked them to put in place a ‘mandatory leave’ policy as part of the prudent risk management measure.
During the mandatory leave, the bank employee will not have access to any physical or virtual resources related to the work responsibilities, with the exception of internal/ corporate email which is usually available to all employees for general purposes.
NIIT, Axis Bank partner to launch digital banking academy
The programme offers graduates with zero to three years of experience an opportunity to join Axis Bank as a deputy manager (IT)
India invites UK companies to invest in insurance sector
The Dialogue saw government-to-government discussions to strengthen cooperation on four key themes: Gujarat International Finance Tec (GIFT) City; banking and payments; insurance, and; capital markets. It was led by senior officials from the UK Treasury and the Indian Ministry of Finance, with participation from independent British and Indian regulatory agencies, BHC said.
Global financial regulators attempt to align rules on climate risks
The Financial Stability Board (FSB), which coordinates financial rules for the G20 group of nations, said its “roadmap” seeks to coordinate approaches to disclosures by companies and plug gaps in the data needed to spot financial stability “vulnerabilities” and develop tools to address them.
The roadmap attempts to align rules still in the planning stage between now and 2023 to avoid more divergences between various measures for the same activity.
Govt readies amendments to GIBNA for insurance PSU privatisation
The NITI Aayog was entrusted with the task of recommending a suitable candidate for privatisation of two public sector banks and one general insurance company. The government think-tank is believed to have suggested the name of United India Insurance to the Core Group of Secretaries on Disinvestment headed by the Cabinet Secretary.
Big Tech’s push into India’s financial sector raises concerns, says central bank
The RBI said concerns included operational risks, too-big-to fail issues, challenges for antitrust rules, cybersecurity and data privacy. But it added that positive outcomes could include efficiency gains and more access to financial services.
The central bank’s warnings come at a time of much tension between the Indian government and U.S. tech giants over issues that range from e-commerce rules to data privacy and content posted on their platforms. Amazon, Facebook, Facebook-owned WhatsApp and Twitter have all been caught up in disputes with New Delhi.