Sanjay Malhotra,Governor,Reserve Bank of India The Monetary Policy...
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RBI likely to cut repo rate by 25 basis points for 1st time in 5 years
The potential rate cut is coming after the domestic rate-setting...
RBI Guv asks banks to have robust systems to curb digital frauds
Sanjay Malhotra,Governor,RBI While dwelling upon IT risk management...
Ageas Federal Life Insurance expects 35-40pc premium growth in FY22
With the government allowing up to 74 per cent foreign direct investment in the insurance sector, he said: ”Now FDI limit being hiked to 74 per cent, we have to wait and see if Ageas will pick up the other 25 per cent (from IDBI Bank). The sentiment is pretty positive, but we will have to see.” However, there has been no impact on the business, he added.
HDFC Bank’s Puri top earner among bankers in FY21; ICICI Bank’s Bakhshi forgoes salary in COVID year
Puri’s overall payments included Rs 3.5 crore as post-retirement benefits. Its immediate rival ICICI Bank’s MD and CEO Sandeep Bakhshi ”voluntarily relinquished” his fixed compensation of basic and supplementary allowances for FY21, which had seen the wide-scale impact of the COVID pandemic, as per the second-largest lender’s annual report.
FinMin moves file for extension of 3 MDs, 10 EDs of govt-owned banks
According to sources, the ministry sought extension of the executives from the Appointments Committee of Cabinet (ACC). The proposal has been sent to the Dof Personnel and Training for the same after consultation with BBB. The final call for extension will be taken by the ACC.
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.