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After FM, Irdai chief urges bankers to avoid mis-selling of insurance
“I wish to say this for the due consideration of the bank boards ,...
RBI cautions public about ‘deepfake’ video of governor being circulated on social media
In a statement Tuesday, RBI said it has come to their notice that...
Banks to conduct special clearing operations for closure of govt accounts on Mar 31: RBI
Under this, presentation clearing will take place between 1700 to 1730 hrs and return clearing will take place between 1900 and 1930 hrs at the three CTS (cheque truncation system) grids located in New Delhi, Chennai and Mumbai.
Under the CTS system, there is no need to present a cheque physically for clearance, instead an electronic image is being transmitted to the paying branch through the clearinghouse, with the relevant data.
India will have heterogeneous banking sector in a decade with four types of banks: Shaktikanta Das
There will be large banks having presence across the country and the world, mid-size banks present across the economy, small finance banks/regional rural banks/cooperatives to take care of the small borrowers and digital players, said RBI governor Shaktikanta Das .
Financial services space set for disruption over next 10 years: Kamath
Citing the first wave of change brought about in the banking space 20 years ago, Kamath said it changed the sector in a positive way.
“Unless you internalise it’s going to be a digital world…we will see a very quick evolution of this space in the next 10 years. It’s not just bank but entire financial services space is set for disruption, not necessarily a negative way, it can be also in a positive way,” the former president of New Development Bank said.
RBI forms external advisory committee for evaluating banking applications
The guidelines for ‘on tap’ licensing of Universal Banks in the private sector on August 1, 2016 and the guidelines for ‘on tap’ Licensing of Small Finance Banks in the private sector on December 5, 2019, had indicated that the applications for Universal Banks and Small Finance Banks would be initially screened by the RBI to ensure prima facie eligibility of the applicants.
RBI is yet to take decision on industrial houses owning banks :Thakur
Replying to a query on the RBI’s internal working group (IWG) report which had recommended that large corporate or industrial houses may be allowed as promoters of banks, he said the central bank has not taken any decision on the issue.
”The RBI will take a final decision keeping in mind interest of consumers of banks” Thakur said, adding even today private sector majority stake is in banks like ICICI and HDFC.
Our digital transactions have gone as high as 67 pc now: SBI Chairman
At present, there are 35 million registered users of Yono and the bank is opening over 35,000-40,000 savings accounts per day with the help of the mobile app, he said.
While 59,000 crore car loans aggregating to around Rs 4,000 crore were sanctioned, the bank could generate 15,000 home loan leads worth Rs 4,000 crore with the help of Yono, he added.
The platform also helps in distributing products of the bank’s subsidiaries including SBI Life Insurance, SBI General Insurance and SBI Card and SBI Mutual Fund.
So far in this fiscal, close to 25 lakh personal accident policies and seven lakh life insurance policies have been issued using the Yono platform, Khara said.
Nationwide bank strike continues to impact PSB services on second day
As per the call, on Monday, employees and officers joined the strike and the strike was a total success. Normal banking services were affected because of the strike, C H Venkatachalam, General Secretary, AIBEA said.
SBI, ICICI, HDFC, Axis Bank, PNB and the Indian IT department targeted in phishing scam
The suspicious links originate from the US and France, said the report, adding that the campaign is collecting personal as well as banking information from the user and getting into this type of trap could cause a massive financial loss for the users.
Bank operations may be hit on Mon, Tue due to nationwide unions’ strike
UFBU, an umbrella body of nine unions, in a statement claimed that about 10 lakh bank employees and officers of the banks will participate in the strike.
Many public sector lenders, including State Bank of India (SBI) have informed their customers that their normal working could be affected at the branches and offices if the strike materialises.
BNP Paribas Cardif offloads 5% stake in SBI Life via open market sale
In a disclosure to exchanges, SBI Life said the foreign promoter of the company has sold 4.99 per cent, equivalent to 5,00,03,480 equity shares on March 12, 2021, through the open market process.
The remaining equity of BNP Paribas Cardif now stands at 0.20 per cent, representing 20,03,612 equity shares of SBI Life