Debasish Panda, part-time chairman, Bandhan Bank The Reserve Bank...
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Banking & Bancassurance
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Asian regulators stepping up banks’ cybersecurity risks amid Mythos AI Fears
Singapore’s financial regulator is urging banks to plug holes,...
Banks act as agents for customers, presenting stale cheques constitutes deficiency in service: SC
A bank receiving cheques for collection acts as an agent of the...
SBI chief pitches for national financial grid to check frauds
Speaking at the CII Financing Summit in Mumbai , SBI Chairman CS Setty said that the sector participants have come together to form the Indian Digital Payment Intelligence Corporation, a not-for-profit entity, which is a shared digital infrastructure to offer...
Canara HSBC Life Insurance has appointed Dinesh Tak as chief agency officer
Canara HSBC Life Insurance has appointed Dinesh Tak as Chief Agency Officer.Dinesh will oversee the company’s sales and distribution strategy by further reinforcing organisation’s focus on strengthening partnerships, enhancing channel productivity, and driving...
Banks at crossroads as AI costs rise and risks escalate: S&P Report
In terms of risk management practices, the report pointed out that deploying AI technologies introduces new technical risks and increases reliance on third-party vendors. At the same time, AI can help banks improve risk identification, monitoring, and pricing. New...
HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case
Madoff’s fraud was estimated as much as $64.8 billion, making it the biggest-ever Ponzi scheme, a kind of fraud whereby old investors are paid off with funds from newer ones while the organizer siphons off some of the money for themselves HSBC Holdings said on Monday...
Govt plans to hike foreign investment cap in state-run banks to 49%, source says
Foreign interest in India's banking industry is on the rise as evidenced by Dubai-based Emirates NBD's recent $3 billion purchase of a 60% stake in RBL Bank and Sumitomo Mitsui Banking Corp's $1.6 billion acquisition of a 20% stake in Yes Bank which the Japanese...
Universal Sompo General Insurance ties up with AP Grameena Bank
Universal Sompo General Insurance Company has entered into a strategic partnership with Andhra Pradesh Grameena Bank (APGB) to offer customized products for rural and agrarian communities, addressing key risks such as crop loss, property damage, and health emergencies...
Ageas Federal Life and CSB Bank forge partnership
Ageas Federal Life Insurance, has announced a strategic SME bancassurance partnership with CSB Bank, to expand the reach of life insurance solutions among Small and Medium Enterprises (SMEs) and Individual entrepreneurs, on a pan India basis.Pralay Mondal, M.D. &...
Algorithmic decision-making may pose non-traditional risks to financial system RBI DG
Swaminathan J ,Deputy Governor, RBI The senior Reserve Bank official said that digital innovation is extending inclusion beyond payments. Micro-insurance and pension products are increasingly being delivered through digital platforms, helping low-income households...
Net-Zero Banking Alliance winds up operations
The alliance, set up in 2021, was the banking industry’s main body leading the sector’s global effort to cut carbon emissions. An overhaul was proposed in August after many big banks left, to create a “framework initiative” rather than a membership-based organization....
RBI to unveil risk-based deposit insurance premiums for banks: RBI Governor
``I am happy the RBI has brought changes in the existing deposit insurance scheme for the banks. The banks have been asking this for long. Paying insurance premium has become the largest overhead any bank today. SBI itself paid Rs 5400 crore of premium in FY 24-25. We...