For example, the country's biggest lender State Bank of India may...
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Sitharaman asks PSBs to develop credit models to fund Indian made small modular nuclear reactors
Lto R -M. Nagaraju,secretary,Department of Financial Services,...
RBI issues directions on AePS operators onboarding to enhance security
The RBI has asked the acquiring bank to carry out due diligence of...
Financial inclusion: Massive surge in active women borrowers in India
A recent report by NITI Aayog revealed that at least 27 million women in India are seeking credit to run their businesses and are actively tracking their credit scores, highlighting a significant rise in financial awareness New Delhi: NITI Aayog launched the report...
Nippon Life Insurance may pick up minority stake IndusInd Bank
Nippon Life Insurance Co.’s India unit is considering buying a minority stake in IndusInd Bank Ltd., people familiar with the matter said, with the aim of using the lender’s network to expand sales of its insurance products Mumbai: Japanese major Nippon Life Insurance...
RBI asks fintechs and digital payment cos to ensure responsible innovation and better compliance
Sanjay Malhotra, Governor, RBI The regulator would continue to adopt a “consultative approach,” the central bank said, adding that new-age technology companies such as payment system players and account aggregators played an important role in the growth of India’s...
SBI aims to be Net-Zero by 2055: Setty
C S Setty, Chairman ,SBI Mumbai: State Bank of India Chairman C S Setty on Sunday said the largest Indian lender is targeting to be Net-Zero by 2055. The bank, the largest in the country, will be celebrating its centenary year of existence then, he said. Setty made...
Former RBI governor Shaktikanta Das appointed as Principal Secy-2 to PM Modi
Shaktikanta Das, Principal Secretary-2 to Prime Minister Narendra Modi `Das will the Principal Secretary-2 to PM-with effect from the date of he assumes office. His office will be co-terminus with the term of PM,’’ said the ACC order. New Delhi: The government...
RBI launches mobile app offering access to Indian economic financial data
Further, the app's 'Banking Outlet' section will help users find banking facilities within 20 kilometres of their location and they can also access data about SAARC countries through the 'SAARC Finance' Mumbai: Reserve Bank on Tuesday launched mobile application...
IRDAI forms high powered panel under former SBI chief Dinesh Khara to suggest measures for insurance reforms
Dinesh Khara, former chairman, State Bank of India Panel will look into various aspects of Insurance Act 1938 and suggest amendments The other members of the panel are-N. Kannan , former CEO ICICI Prudential Life Insurance, Saurabh Sinha, former executive director,...
IRDAI unveils Bima-ASBA for issuing life and health policies from March 1
Under Bima –ASBA facility, transfer of money from the prospect to the insurer happens only when policy is issued. Amount towards insurance premium will be debited from the customer's bank only after the insurer decides to accept the proposal. One-time manadate through...
DICGC’s cover on bank deposit beyond Rs 5 lakh, Bill allowing Composite licenses soon, says DFS Secy
Union Finance Minister Nirmala Sitharaman is launching Mutual Credit Guarantee Scheme for MSMEs in Mumbai on Monday Govt asks private life insurance companies to increase the free look period for policyholders from one month to one year. The Centre is working on more...
Govt planning to use AI for identifying mule accounts to check cybercrime: Amit Shah
Amit Shah, Union Home Minister Union Home Minister Amit Shah said efforts are underway to use Artificial Intelligence (AI) for identifying mule accounts, in coordination with the Reserve Bank of India (RBI) and all banks to establish a system for their detection, an...