Tuesday, December 6, 2022
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IRDAI chief gives tips to make Indian insurance market largest

[ad_1] He was speaking at a sector exclusive forum to discuss 'Investing into India's burgeoning Insurance Ecosystem', here organised by the Indian Venture & Alternate Capital Association (IVCA), the apex industry body for alternative assets. "The market (insurance) size is estimated to reach USD200 bn by FY '27 at the

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SBI moves insolvency plea against Jaiprakash Associates before NCLT

[ad_1] Country's biggest lender SBI has moved the National Company Law Tribunal (NCLT) against Jaiprakash Associates Ltd for initiation of insolvency proceedings against the debt-ridden company. State Bank of India (SBI) in its plea filed before the Allahabad bench of NCLT has claimed a total default of Rs 6,893.15 crore

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Fill SC vacancies by December 31, address grievances by October 31, Finance ministry tells banks

[ad_1] The finance ministry has directed all public sector banks to fill vacant posts reserved for Scheduled Castes (SCs) by December 31 and address all grievances of SC consumers and employees through a special drive by October 31. The decision came at a meeting convened by finance minister Nirmala Sitharaman with

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PSU banks to start drive from Oct 2 to fill backlog vacancies of scheduled castes: NCSC chief

[ad_1] All public sector banks will begin a special drive from October 2 for filling up of backlog vacancies reserved for scheduled castes, National Commission for Scheduled Castes (NCSC) Chairman Vijay Sampla said on Thursday. The decision comes after a review meeting, jointly chaired by the NCSC chairman and Finance

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NBFCs stare at a liquidity squeeze amid debt fund outflow, low bank funds

[ad_1] Non-banking financial companies (NBFCs) are staring at a liquidity squeeze wrought by an outflow from the debt funds and reduced banking system funding. With banks witnessing a multi-year high credit demand and chasing deposits, the lending cost for non-bank lenders with 3-5 year corporate bonds yields have risen 120-160 basis

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PSBs plan to set up big data and analytics verticals

[ad_1] State-run banks will set up dedicated verticals for big data and analytics, and integrate all data sources, eyeing a shift to a more data-driven decision-making. The move follows the government's directive to lenders to strengthen data-driven, integrated and inclusive banking. In the next one year, public sector banks will also roll

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India’s massive card security deadline unlikely to be extended

[ad_1] India's central bank is unlikely to extend a Friday deadline for businesses to set up an additional layer of security for consumers' credit card data even after some concerns remain over payments failing and revenue losses, say bankers and merchants. Despite a demand by smaller merchants to delay the compliance

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UCO Bank in process of opening special Vostro a/c with Russian Gazprombank to facilitate trade in rupee

[ad_1] State-owned UCO Bank is in the process of opening a special Vostro account with Russia's Gazprombank for settlement of trade in Rupee against the backdrop of sanctions imposed by western countries on Russia following its invasion of Ukraine. "The deal between UCO Bank and Gazprombank comes as the Reserve

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India is a key market: Masakazu Osawa, MUFG Bank

[ad_1] Policy tightening would impact global GDP at large through manifestation of demand contraction, lower capital expenditure and unemployment, Masakazu Osawa, managing executive officer, MUFG Bank, tells Saikat Das in an interaction. However, with digital innovation and growing consumer demand, India is set to be a global leader in broader

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