Economic Times
Citigroup is drastically reducing year-end promotions, impacting around 2,000 employees compared to approximately 8,000 in previous years, according t
India is restructuring IFCI Ltd, halting its lending operations due to capital limitations. The government-owned non-bank lender will transition into
The fraudulent transactions have affected Aviom's cash flows, which will impact repayment capabilities, the people said. The housing finance company,
Most Rs 2,000 notes are back. The Reserve Bank of India received nearly all withdrawn notes. The deadline for depositing or exchanging these notes p
Finance Minister Nirmala Sitharaman's Mahila Samman Savings Certificate scheme has garnered over 4.33 million depositors since its April 2022 launch.
The Microfinance Institutions Network (MFIN) is tightening lending norms for its members to address rising bad loans. These changes include stricter
HDFC Life Insurance announced on Monday that it had received customer data from an unknown source with "mala fide intent." The company did not specify
Parliament was informed on Monday that the recommendations of the Group of Ministers (GoM), which is examining issues related to GST on life and healt
A new bill, expected to be introduced in Parliament's winter session, seeks to amend bank nomination laws, allowing up to four nominees for fixed depo
The Financial Services Institutions Bureau (FSIB) has recommended Binod Kumar, current Executive Director of Punjab National Bank, as the next Managin
Private banks are pushing for a reduction in Mudra loan targets, citing concerns about potential stress on MSME loans. While government data shows low
Vodafone Idea's network upgrade plans face potential delays as banks demand additional collateral for issuing letters of credit to equipment suppliers
The Employees' Provident Fund Organisation (EPFO) is poised to relax regulations, enabling more private banks to collect provident funds. This initiat
The Indian insurtech sector has raised over USD 2.5 billion and is expected to attract more investment due to significant growth opportunities, accord
Yes Bank has partnered with Vegapay to launch a new platform called 'Credit Line on UPI'. This platform will allow YES Bank to offer customised credit
In a circular on September 30, the regulator pointed out irregularities in granting loans against gold ornaments and jewellery. This was after the cen
SBI Chairman C.S. Setty highlighted that India's improving investment climate and digitalization are shifting people towards diverse investment option
The Reserve Bank of India extended its control over Abhyudaya Cooperative Bank for another year, maintaining Satya Prakash Pathak as administrator. T
Ujjivan Small Finance Bank is taking steps to improve its financial health by selling off Rs 270 crore in bad loans, primarily from its microfinance p
Finance Minister Nirmala Sitharaman addressed concerns about high bank interest rates, calling for more affordable options to support business expansi
