"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...
BoI to sell 25.05% stake in its life insurance joint venture
In its request for proposal (RFP), the bank said it is proposing to sell 6.48 crore equity shares which amounts to Rs 1,106 crore.While BoI has a 28.96 per cent stake in the life insurance joint venture, Union Bank of India and Dai-ichi Life has 25.10 per cent and 45.94 per cent, respectively.
IRDAI seeks proposal from LIC on stake reduction in IDBI Bank
“We will decide on the timeline (for stake reduction by LIC in IDBI Bank). We are not leaving it to them. I have asked them (LIC) to give a proposal and after that we will take a decision,” IRDAI Chairman Subhash Chandra Khuntia said on the sidelines of an event organised by Ficci here.
SBI has found fraud worth Rs 7,951.3cr in Apr-Dec: RTI reply
The bank also did not share details of these frauds such a due to phishing/online/debit/credit cards fraudulent transactions or borrowers engaging in fraudulent activities with the borrowed money.
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