"Our target is to open more than 3 crore PMJDY accounts during the...
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Pradhan Mantri Jan Dhan Yojana@10: World’s Largest Financial Inclusion Mission
PMJDY, the world’s largest successful mission has already crossed...
Reliance Cap lenders raise concerns over Rs 7,300 cr debt term sheet offered by IIHL
The committee of creditors (CoC) has expressed concerns that...
Complaints to banking ombudsman rise 20% in FY19: RBI
The number of complaints pertaining to mis-selling have gone up from 579 complaints in 2017-18 to 1,115 in 2018-19, an increase of 92.57 per cent.
Big tech may be required to share customer data with financial firms
The Financial Stability Board (FSB) called in a report released on Sunday for “vigilant monitoring” of Big Tech’s shift into financial services, which it said could crimp the ability of banks to generate capital through retained profits.
Only up to Rs 1 lakh of depositor money insured in banks: RBI subsidiary
Asked whether there is any proposal or move under consideration to raise the limit of Rs 1 lakh insured in the bank in wake of the recent PMC Bank fraud, the DICGC said, “The corporation does not have the requisite information.”
PSBs reported frauds of over Rs 95,760 crore in six months: FM Sitharaman
Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman
Media report suggests the bank deposit insurance in the country may be split into two categories, with retail cover being raised to Rs 5 lakh, from the current level of Rs 1 lakh; and a new scheme being introduced for wholesale depositors at Rs 25 lakh. When given effect, it will be the first upward revision in deposit insurance after 1993.
Govt unveils norms for 100% FDI in insurance intermediaries sector
However if a bank, whose primary business is outside the insurance area, is allowed by the IRDAI to function as an insurance intermediary, the foreign equity investment caps applicable in that sector, which is 74 percent, will continue to apply, subject to the condition that the revenues of such entities from the primary (non-insurance related) business must remain above 50 per cent. of their total revenues in any financial year.
No guaranteed bonus,Half of remuneration of Bank CEOs to be variable:RBI
The total variable pay, RBI said, shall be limited to a maximum of 300 per cent of the fixed pay. Moreover, in case variable pay is up to 200% of the fixed pay, a minimum of 50% of the variable pay; and in case variable pay is above 200%, a minimum of 67% of the variable pay should be via non-cash instruments.
RBI asks Indian banks to probe alleged data leak of 1.3 million cards
Security researchers at Singapore-based Group-IB had found that card details were being sold at a price of $100 per card, ZDNet had reported. The value of the leaked database has been estimated by the group at $130 million (£100 million).
Half the world’s banks are too weak to survive a downturn: McKinsey
A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, McKinsey said in its annual review of the industry released Monday
India Halved its Poverty Rate Since 1990s, Achieved Over 7% Growth Rate in 15 Years : World Bank
India’s water management will need to provide for shifting water allocation to higher-value uses and policies to increase the value of water use within sectors. In addition, 230 million people are not properly connected to the electricity grid while generation will need to be less carbon intensive, the World Bank pointed out.