In order to overcome the mismatch between deposits and lending,...
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RBI hikes limit for tax payments via UPI from Rs 1 lakh to Rs 5 lakh
Mumbai: The Reserve Bank has decided to enhance the limit for tax...
Household savings moving towards alternative investment avenues: RBI
Alternative investment avenues are becoming more attractive to...
Automation has SBI leaving 25% retirement vacancies open for tech
The board has come out with a five-year roadmap in 2018 to replace only 75 percent of the retiring employees every year, he said, adding an average of up to 10,000, including 8,000 clerks and 2,000 officers are being hired annually as replacements.
NPCI identifies new type of digital banking frauds
The entire ecosystem including Banks & Fintech companies have to work collectively towards creating awareness and educating customers to refrain from sharing their account/card credentials, OTP/PIN and/or giving access to their mobile handsets to unscrupulous persons through such remote screen access apps.
Citi India CEO lost RBI confidence
The RBI around the end of last year informed Citigroup that it wouldn’t approve a new term for Pramit Jhaveri, who had been India chief executive officer (CEO) for almost a decade, people with knowledge of the matter said. That prompted the bank, which had planned to nominate Jhaveri for another three-year term, to change course and move him to another position, the people said, asking not to be named.
Deposits in Jan Dhan accounts set to cross Rs 90,000 crore
New Delhi: Total deposits in Jan Dhan accounts are set to cross Rs 90,000 crore with the government making the flagship financial inclusion programme more attractive especially by doubling accident insurance cover to Rs 2 lakh. According to data from the...
PNB plans to dilute minor stake in life insurance JV
“In the DRHP (draft red herring prospectus), they (PNB) have chosen only to dilute a small percentage, they want to hold the substantial holding at more than 26 percent. So, therefore that signals you their intention,” said the company’s managing director and chief executive Ashish Srivastava
LIC can continue its ownership of IDBI Federal Life Insurance for the time being:IRDAI
“LIC, with its higher stake in IDBI Bank, is still an investor and not a promoter of the Bank as we will ask LIC to lower its stake in IDBI Bank from 51 per cent. We haven’t decided how much time we would allow LIC to lower its stake in IDBI Bank.,’’ said Nilesh Sathe, member, LIfe, IRDAI
LIC completes acquisition of 51% stake in IDBI Bank
“The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies,” IDBI Bank said in a BSE filing
Bonding with Banks
There is tremendous scope for innovation given the large number of banking customers. With banks selling insurance products of more than one insurance company, options are also in abundance with the scope for customised product offerings. For instance, loan secure products which give the customer the protection to from paying financial liabilitiesin case something unfortunate happens
BoI eyes Rs 1200-cr from exiting life insurance arm Star Union
Star Union Dai-ichi Life Insurance, which commenced operations in February 2009, is a joint venture between Bank of India, Union Bank of India and the Japanese major Dai-ichi Life Insurance Company.The company has negligible market share in the 24-player industry dominated by the national insurer LIC
BoB-Dena-Vijaya Bank merger unwarranted, will lead to job cuts: AIBEA
Noting that several villages were yet to receive banking services, he said, “There is a huge exclusion of people. Banks need to be expanded. No need for consolidation.”