The RBI flagged global financial market volatility, geopolitical...
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RBI to continue with supervisory measures for early risk identification
The central bank would also focus on enhancing cyber resilience and...
RBI proposes to use biz correspondent network to tackle KYC inoperative account issues
"In order to further ease the process for the convenience of...
RBI Guv asks banks to have robust systems to curb digital frauds
Sanjay Malhotra,Governor,RBI While dwelling upon IT risk management and cyber security, the governor urged banks to have enhanced oversight over third-party service providers for mitigation of the risks emanating from them, RBI said in a release Mumbai: Flagging the...
Bring more people into fold of financial inclusion schemes: Fin Services Secy Nagaraju to banks
Nagaraju said that significant progress has been made in expanding social security and deepening financial inclusion in the country through various flagship schemes of the government, and further urged the public and private sector banks to dedicatedly work towards...
FinMin asks banks, insurance firms to expedite public grievances resolution
M Nagaraju, Secretary, Department of Financial services At the outset, the Secretary reiterated the Prime Minister's direction given in the Pragati meeting held on December 26, that all the Senior officers at the level of Chairman/ MD/ ED of PSBs/PSICs should review...
High employee attrition of 25% in private banks pose operational risk: RBI
"High attrition and employee turnover rate pose significant operational risks, including disruption in customer services, besides leading to loss of institutional knowledge and increased recruitment costs. In various interactions with banks, the Reserve Bank has...
Climate change risks impacting financial system, need India-specific data: RBI’s Dy Gov
“Over the last few years, we have taken several incremental measures in this direction. It started with the setting up a dedicated group within the Bank to assess climate change risks and foster a robust ecosystem for sustainable finance,” said Reserve Bank of India...
Banking frauds rise in H1FY25, amount involved jumps 8-time: RBI report
The RBI said frauds present multiple challenges for the financial system in the form of reputational risk, operational risk, business risk and erosion of customer confidence with financial stability implications Mumbai: The number of bank frauds witnessed a...
India’s savings rate shoots past global average: SBI report
“Due to various measures, India's financial inclusion improved significantly and now more than 80 per cent of adults in India have a formal financial account, compared to about 50 per cent in 2011, which is improving the financialisation of the savings rate of Indian...
Reliance Nippon Life starts negotiation with IndusInd Bank on bancassurance tie up
"Bancassurance was a missing link in our structure and we have started exploring the possibility with IndusInd Bank and we are already in dialogue to strike a win-win deal for all stakeholders," Reliance Nippon Life Insurance CEO Ashish Vohra Mumbai: Reliance Nippon...
Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision
Sanjay Malhotra,Governor,Reserve Bank of India Malhotra, who faces a slew of challenges, including the unsettling of the inflation-growth balance and the continuous pressure on the rupee, said, “Continuous improvements and kaizens (improvement)” are essential for any...
IRDA may unveil new regulations to check insurers’ overdependence on promoter banks
In some cases, parent banks of insurers are selling over three-fourths of the policy, the official, who did not wish to be identified, told reporters in Mumbai Mumbai: Insurance industry watchdog Irdai wants insurers to diversify their distribution channels and may...