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Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision
Sanjay Malhotra,Governor,Reserve Bank of India Malhotra, who faces...
IRDA may unveil new regulations to check insurers’ overdependence on promoter banks
In some cases, parent banks of insurers are selling over...
Home loan tenure of up to 10 years most preferred: Survey
The sample size of the survey is 500, it said.”The period of up to 10 years is the most preferred duration of home buyers with 26 per cent of the respondents giving the nod for it. It was followed by 10-15 years (25 per cent) and 15-20 years (23 per cent) as the next most preferred tenures for home loans,” Magicbricks said in a statement.
Cyber crime is growing risk to bank ratings: S&P
Cyber attacks can harm credit ratings mainly through reputational damage and potential monetary losses, it said in a report titled ‘Cyber Risk In A New Era: The Effect On Bank Ratings.’
“Cyber attacks have had only a limited effect on bank ratings to date but can trigger more rating actions in the future as cyber incidents become more frequent and complex,” said Credit Analyst Irina Velieva.
Will bankers embrace sensors under their desks when they return to work?
But not everyone can return at once: banks will have to extend practices like those used for small teams of traders during the pandemic. Shifting rotations of people will pass through giant buildings on different days, without clustering in the same areas on the same floors, to avoid spreading COVID-19. Some of the banks are implementing systems where employees will book “hot seats” on particular days and be monitored while they are sitting at them, sources said.
In some buildings, that could mean cameras that monitor a room’s occupancy level and even sensors that tell building management whether someone is sitting at a desk. “That feels a little personal,” one bank employee said about desk sensors.
Govt may table amendment to DICGC Act in monsoon session
Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh with a view to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank. Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank too came under stress leading to restructuring by the regulator and the government.
World Insurance Report 2021: Insurers must blend physical and digital distribution models in a post-pandemic era
AI-based analytical tools and a 360-degree view of customers is essential for a customized customer-experience. The most successful insurers will win and retain customers by reinventing their operating ecosystem to support a ‘phygital’ model based on a mix of physical presence and digital engagement.
“Insurers have an opportunity to convert digital traffic to sales by focusing on a hyper-personalized virtual experience,” said Anirban Bose, CEO of Capgemini’s Financial Services and Group Executive Board Member.
MoF wants staffs of banks and insurance companies to be vaccinated on priority
`In the light of the recent government’s decision to open up vaccination to all persons above the age of 18 years from 1st May 2021.,I would request you to kindly consider putting in place a special dispensation in your State/UT, to enable the employees/ staff of banks and insurance companies to avail of vaccination easily and on priority basis.This will go a long way in assuring them about their safety/life and will also boost their morale in continuing to provide their best services to customers.” said Madnesh Mishra, joint secretary, MoF
Citigroup forms energy transition group within investment banking – memo
The entity will be headed by Serge Tismen and Shail Mehta, and will focus on companies including those involved in hydrogen, charging infrastructure, carbon capture and sequestration and biofuels, said the memo, the contents of which were confirmed by a bank spokeswoman on Thursday.
2,118 branches of state-run banks closed or merged in last fiscal: RTI
The highest number of 1,283 branches of Bank of Baroda were either closed or merged, No branch of Bank of India and UCO bank was closed in the last fiscal. The government consolidated ten PSU banks into four in the last financial year, bringing the number of nationalised banks to 12.
RBI allows fresh moratorium for small borrowers as COVID-19 cases spike
“Small businesses and financial entities at the grassroot level are bearing the biggest brunt of the second wave of infections,” Reserve Bank of India Governor Shaktikanta Das said, as he announced a slew of other measures to enhance liquidity and boost lending to various needy sectors.
RBI limits tenure of bank CEOs, MDs to 15 years, rule to be effective from October 1
Lenders like Kotak Mahindra Bank may be affected though the impact will not be felt immediately as RBI has allowed CEOs to complete their current tenure.
Promoter Uday Kotak who has been at the helm of the bank for over 12 years had been re-appointed for a term of three years starting January 2021.