In a statement Tuesday, RBI said it has come to their notice that...
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Strengthen framework to curb unethical practices RBI Guv to bank boards
"While such practices may yield short-term gains, they ultimately...
Do fresh KYC of PM Jan Dhan accounts due for updation: DFS secretary to banks
During the meeting, Nagaraju suggested using all means for doing...
RBI holds rates again; focused on bringing down inflation to target
Shaktikanta Das, Governor, Reserve Bank of India Resilient and steady economic growth in India is allowing the central bank to focus on bringing inflation down towards its 4% medium term target, said RBI Governor Shaktikanta Das, emphasising that price stability is...
Chola MS and Mahindra Finance join hands to offer non-life insurance solutions
Chola MS General Insurance has announced a strategic partnership with Mahindra Finance, one of India's leading Non-Banking Finance Companies.This collaboration will provide motor and other non-life insurance solutions to over 10 million customers of Mahindra Finance....
IIHL fails to comply with NCLT order on acquiring Reliance Capital: RCAP Administrator
The Administrator, in its affidavit informed NCLT that instead of depositing Rs 2,750 crore in the designated escrow accounts of the Committee of Creditors (CoC) in India and abroad, IndusInd International Holdings Ltd (IIHL) has deposited the money in its own...
Reliance Capital resolution: CoC warns of remedial action against Hinduja owned IIHL
Hinduja owned IIHL failed to meet the deadline of July 31. On August 1, Vistra ITCL, the trusteeship acting on behalf of the CoC, wrote a letter to IIHL that it had defaulted on the NCLT order, now lenders reserve their rights and remedies as per the resolution plan...
Small Indian banks back online after ransomware attack, payments authority says
The attack had affected C-Edge Technologies, a technology service provider to the banks. India has about 1,500 cooperative and rural regional banks, which largely serve customers in hinterland areas, one-fifth of which were affected by the attack MUMBAI: Nearly 300...
Emirates NBD and Kotak Mahindra Bank cleared by RBI to bid for IDBI Bank
The Indian government, which owns 45.48% in IDBI Bank, and state-owned Life Insurance Corporation of India which holds 49.24%, together plan to sell 60.7% of the lender MUMBAI/NEW DELHI: The Reserve Bank of India(RBI) has completed its review of potential buyers for a...
Financial bids for IDBI bank likely this fiscal; PSU banks sale on hold: DIPAM Secretary
Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) On the disinvestment of PSU banks, Pandey stated that the Department of Financial Services could provide more details, but he mentioned that it is not being pursued currently...
Ransomware attack forces hundreds of small Indian banks offline, sources say
The attack affected C-Edge Technologies, a provider of banking technology systems to small banks across the country, they said MUMBAI: A ransomware attack on a technology service provider has forced payment systems across nearly 300 small Indian local banks to shut...
ICICI Lombard General to partner with Karnataka Bank
ICICI Lombard has announced its collaboration with Karnataka Bank.The entire range of insurance products of ICICI Lombard General Insurance will now be accessible across Karnataka Bank's 915 branches, reaching over 13 million customers nationwide.
Eco-Survey: Banks and insurers must avoid mis-selling and address grievances to keep financial system healthy
Commercial banks and insurance companies, even as they aim to achieve greater market penetration, must keep in mind levels of financial literacy in the country, avoid over lending mis-selling and address grievances, such that the financial cycle stays healthy as long...