Banking & Bancassurance

Ageas Federal Life Insurance expects 35-40pc premium growth in FY22

Indian News       Jul 25, 2021

  Mumbai: Ageas Federal Life Insurance Company expects a 35-40 per cent growth in premium income in the current financial year despite higher claim payouts in the first quarter, a top company official said. The company looks to keep the momentum going after better-than expected performance...

FinMin moves file for extension of 3 MDs, 10 EDs of govt-owned banks

Indian News       Jul 25, 2021

New Delhi: The finance ministry has moved a file for the extension of tenure of three public sector banks' managing directors, including Punjab National Bank (PNB), according to sources. Besides, the sources said the ministry has also recommended the Department of Personnel and Training (DoPT)...

Sandeep Bakhshi,MD and CEO, ICICI Bank

HDFC Bank's Puri top earner among bankers in FY21; ICICI Bank's Bakhshi forgoes salary in COVID year

Indian News       Jul 25, 2021

Mumbai: HDFC Bank's Aditya Puri emerged as the highest-grossing banker among the top three private-sector lenders in his retirement year with total emoluments of Rs 13.82 crore. His successor Sashidhar Jagdishan, who took over as the chief executive and managing director of the largest private...

RBI eyeing 'phased introduction' of digital currency: Deputy Governor

Indian News       Jul 22, 2021

  Mumbai: The Reserve Bank is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future, RBI Deputy Governor T Rabi Sankar said on Thursday. He said the...

RBI to unveil first financial inclusion index: Das

Indian News       Jul 15, 2021

  Mumbai: RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a “policy priority” for the central to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion...

Physical bank branches will continue to play key role in rural areas: Bankers

Indian News       Jul 15, 2021

Mumbai: Physical bank branches will continue to play an important role in rural areas, despite the adoption of digital transactions seeing a significant jump in these areas in the last 18 months, say bankers. “Rural is becoming digital but it needs a physical presence. Rural...

India bans Mastercard from issuing new cards in data storage row

Indian News       Jul 14, 2021

  MUMBAI: The Reserve Bank of India (RBI) on Wednesday indefinitely barred Mastercard Inc (MA.N) from issuing new debit or credit cards to domestic customers for violating data storage rules, dealing a blow to the U.S. company in a key market. In a notification, the RBI...

Bank employees working in sensitive positions to get surprise leaves of at least 10 days

Indian News       Jul 11, 2021

  Mumbai: Bankers working in sensitive positions, including treasury operations and currency chests, will get a surprise holiday of at least 10 working days or more in a single spell every year under the modified risk management guidelines of the Reserve Bank. In a communication to...

India invites UK companies to invest in insurance sector

Indian News       Jul 08, 2021

New Delhi: India has invited UK companies to invest in the insurance sector, while Britain offered its London market for direct listing of Indian firms. This year, India has increased the foreign direct investment ceiling from 49 per cent to 74 per cent. Earlier, the...

NIIT, Axis Bank partner to launch digital banking academy

Indian News       Jul 08, 2021

NIIT Institute of Finance Banking and Insurance (NIIT IFBI) and Axis Bank have launched a fintech professional programme to build future-ready professionals for the private sector lender. The programme offers graduates with zero to three years of experience an opportunity to join Axis Bank as...

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