Economic Times
The central bank is expected to introduce these rules later this year and bankers are worried they will hurt profitability in the medium term.
Speaking at a convention organised by the International Association of Deposit Insurers, RBI deputy governor J Swaminathan called upon banks to exerci
Banks have urged the government to organize more Lok Adalats through Debt Recovery Tribunals to settle distressed loans out of court. Public sector ba
The Ministry of Corporate Affairs has introduced new accounting standards for insurance contracts, harmonizing them with global norms. These standards
Karnataka's government instructed its departments and public sector units to halt transactions with SBI and PNB due to unresolved fixed deposit issues
Standard Chartered Bank has appointed Aditya Mandloi as the Head of Wealth and Retail Banking for India and South Asia, effective August 1, 2024. Mand
The Reserve Bank of India has warned banks about the dangers of relying too heavily on third-party vendors. Deputy Governor J. Swaminathan mentioned a
Life insurers are pushing sales aggressively to lock in customers before the new surrender value norms take effect on October 1. These new rules, whic
The Life Insurance Corporation of India (LIC) is gearing up for a legal battle against ACESO, a company that buys and assigns LIC policies to policyho
Indian Renewable Energy Development Agency Ltd (IREDA) announced plans to establish a subsidiary to finance small businesses and retail customers invo
As per the current practice, Registered Valuer (RV)/ Register Valuers Entity (RVE) submit the valuation reports with or without mentioning any referen
Muthoot Homefin (India) Ltd (MHIL), the wholly owned subsidiary, loan AUM stood at Rs.2,199 crores in Q1 FY25 as against Rs.1,501 crores in Q1 FY24, a
In July, India's life insurance industry saw a 16.9% year-on-year growth in annualised premium equivalent (APE), largely driven by private insurers, w
Rana Ashutosh Kumar Singh has assumed the role of Managing Director in charge of Risk Compliance and the Stressed Assets Resolution Group at State Ban
Kotak Mahindra Bank’s subsidiaries Sonata Finance and BSS Microfinance approved merging, pending regulatory and shareholder approvals. The merger fo
A Bench led by acting chief Justice Manmohan, however, turned down a petition by former Rajya Sabha member Subramanian Swamy, seeking to set up a comm
The Reserve Bank of India (RBI) has imposed penalties on five entities, including CSB Bank, Union Bank of India, and Muthoot Housing Finance, for non-
Bajaj Finance has been served with a show cause notice for a GST demand of Rs 342 crore. Authorities claim the fixed upfront interest collected from B
Private sector bank CEOs saw modest salary increases in FY24, reflecting cautious regulation by the RBI. Explore detailed breakdowns of who received w
Muthoot Microfin is in advanced talks with European investors to secure $50 million in external commercial borrowing, aiming to lower costs and pass o
