DCB Bank Q2 profit falls 10 per cent at Rs 82 cr

DCB Bank on Saturday reported nearly 10 per cent decline in net profit at Rs 82 crore for the quarter ended September 30, 2020 as provisions rose.The from Business Line - Money & Banking https://ift.tt/3oUrg...

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IDFC First Bank posts net profit of ₹101.47 crore

IDFC First Bank reported a net profit of ₹101.47 crore in the second quarter of the fiscal, as against a net loss of ₹679.50 crore in the correspondin from Business Line - Money & Banking https://ift.tt/3jMzB...

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Union Bank of India cuts home loan rates by 10 bps

Interest rate cut on home loans above Rs.30 lakh with effect from November 1 from Business Line - Money & Banking https://ift.tt/31Xmh...

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Bank of Baroda reduces lending rate by 15 bps to 6.85%

The rate cut would be effective from November 1, 2020. With the cut in the external benchmark repo linked rate, all retail loans of the bank would get automatically adjusted. from Banking/Finance-Industry-Economic Times https://ift.tt/3mRNU...

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Bank of Baroda to reduce RLLR to 6.85%

Bank of Baroda (BoB) on Saturday said it will reduce its Repo Linked Lending Rate (RLLR) from 7 per cent to 6.85 per cent with effect from November 1, from Business Line - Money & Banking https://ift.tt/35JPd...

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DCB Bank Q2 net profit down 10%

DCB Bank’s net profit declined 9.97 per cent to ₹82.29 crore in the second quarter of the fiscal from ₹91.41 crore a year ago.“Profit before tax for t from Business Line - Money & Banking https://ift.tt/31Yzt...

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ICICI Bank Q2 net profit jumps six-fold to Rs 4,251 crore

Private lender ICICI Bank on Saturday posted a six-fold jump in its standalone net profit for the second quarter (Q2) ended September 2020. The bank reported a net profit of Rs 4,251 crore in the period under consideration as against a profit of Rs 655 crore posted in the same quarter last year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34INO...

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ICICI Bank Q2 net profit rises over 6-fold to Rs 4,251 crore

ICICI Bank on Saturday reported an over six-fold jump in its standalone net profit at Rs 4,251 crore for the second quarter ended September 2020.The b from Business Line - Money & Banking https://ift.tt/2Jpn1...

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Nabard arm to back agriculture loans

The National Bank for Agriculture and Rural Development (Nabard) will set up a subsidiary, NABSanrakshan Trustee, to provide a guarantee for agriculture and rural development loans. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2THn3...

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Card machines emerge as new agents for loans

The card swipe machine is replacing the in-store finance executive. Not only are banks extending personal loans against card swipes, but customers in the smallest of towns are making purchases with zero-interest EMIs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/35RJ8...

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Kotak Mahindra Bank Rating: Buy- A strong second quarter for company

Asset quality remained resilient; FY21/22e EPS up 27/20% given outlook; upgraded to ‘Buy’ with TP rising to Rs 1,650 from Banking & Finance – The Financial Express https://ift.tt/3jMXO...

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IndusInd Bank Q2 net falls 53% on higher provisions

Sumant Kathpalia, chief executive officer, said the bank will continue to provide if there is stress due to Covid-19. from Banking & Finance – The Financial Express https://ift.tt/383zL...

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Karur Vysya Bank net profit jumps 83% to Rs 115 crore

The net interest income for the quarter improved marginally to Rs 601 crore while net interest margin (NIM) increased by 11 bps to 3.47%. from Banking & Finance – The Financial Express https://ift.tt/37UzS...

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Central Banks sell gold for first time in a decade

Net sales totaled 12.1 tons of bullion in the third quarter, compared with purchases of 141.9 tons a year earlier, according to a report by the World Gold Council. Selling was driven by Uzbekistan and Turkey, while Russia’s central bank posted its first quarterly sale in 13 years, the WGC said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2TAsl...

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Loan rejig scheme finds few takers

Borrowers appear discouraged by modalities, impact on credit score from Business Line - Money & Banking https://ift.tt/37Xco...

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RBI imposes Rs 1 crore penalty on Jio Payments Bank

Jio Payments Bank was required to submit an application under Section 35B of the Act in the case of reappointment of MD & CEO of the bank four months prior to the date on which the term of the current position holders was to expire as per RBI guidelines. from Banking/Finance-Industry-Economic Times https://ift.tt/3oGFU...

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RIL ups its bets on ‘financial services’ segment in September 2020 quarter

Ambitious plans for the segment may be at play from Business Line - Money & Banking https://ift.tt/2HOj7...

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NPS fails to enthuse traders, self employed

Terms of scheme not attractive from Business Line - Money & Banking https://ift.tt/2Gc4i...

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IndusInd expects restructuring book to be in control: CEO

The bank's total slippages at just 19 basis points of its loan book or Rs 400 crore were made up by the Rs 495 of recoveries and upgrades the bank had in the quarter ended September. One basis point is 0.01 percentage point. from Banking/Finance-Industry-Economic Times https://ift.tt/2TDaJ...

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International Finance Corporation extends USD 4-bn loans to private companies to fight pandemic

IFC's pandemic response is focused on reaching the most vulnerable people in the developing world. In March, IFC committed USD 8 billion in fast track financing to help pandemic-hit private sector companies. from Banking/Finance-Industry-Economic Times https://ift.tt/2TAAg...

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Jana SFB upbeat on ‘collection efficiency’ backed by steady improvement in repayments

Jana Small Finance Bank expects its collection efficiency to improve to 97-98 per cent by November this year backed by a steady improvement in repayme from Business Line - Money & Banking https://ift.tt/3kHPZ...

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Give ‘deposit-accepting licences’ to all non-bank lenders above a threshold: EY-FICCI report

KR SrivatsIndia should grant ‘deposit-accepting licences’ to all non-bank lenders that are credit rated ‘A’ and above by at least two credit rating a from Business Line - Money & Banking https://ift.tt/2TzT5...

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IndusInd Bank: Ramping up loan growth, scaling up retail deposits will be key

IndusInd Bank, which was the market darling not long ago for its fast-paced earnings and loan growth, has been facing challenges over the past two to from Business Line - Money & Banking https://ift.tt/3kD01...

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IndusInd Bank Q2 profit down 53%

Private sector lender IndusInd Bank’s net profit in the second quarter of the fiscal more than halved with lower fee income and rise in provisions.For from Business Line - Money & Banking https://ift.tt/3mwx2...

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Max Financial profit up 26% in Q2

Max Financial Services (MFS), on Friday, reported a 26 per cent increase in consolidated net profit for the second quarter ended September 30, 2020, a from Business Line - Money & Banking https://ift.tt/31YR9...

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Axis Bank's JV deal with Max Life hits yet another regulatory wall

As reported first by ET on July 27, the share purchase agreement between Axis Bank and Max Financial didn’t get RBI nod as it flouted the para banking guidelines of the central bank. from Banking/Finance-Industry-Economic Times https://ift.tt/2GcyQ...

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Axis Bank revises Max Life deal; to acquire up to 19% stake along with subsidiaries

Our BureauAxis Bank, on Friday, announced a revised plan to acquire stake in Max Life Insurance. Now, the private sector lender along with its subsidi from Business Line - Money & Banking https://ift.tt/31WIm...

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Axis Bank to rework deal for Max Life, will acquire 19% stake along with subsidiaries

RBI did not consider application for direct acquisition of 17.002% stake from Business Line - Money & Banking https://ift.tt/2TQg9...

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Nabard HI profit rises 8% to ₹2,361 crore

The National Bank for Agriculture and Rural Development (Nabard) reported an 8.26 per cent increase in net profit at ₹2,361 crore in the half-year end from Business Line - Money & Banking https://ift.tt/34FYF...

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Karur Vysya Bank Q2 net up 82%

Karur Vysya Bank has reported an 82 per cent jump in net profit at the end of the second quarter of this fiscal when compared to the corresponding qua from Business Line - Money & Banking https://ift.tt/37Y5i...

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Non-life insurance premium rises to ₹97,000 cr in H1

The gross premium underwritten by general insurers went up by 1.37 per cent at ₹96,831 crore in the first half of the current fiscal ended September a from Business Line - Money & Banking https://ift.tt/2JdAK...

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Crop, tractor loans ineligible for ex-gratia relief as they fall into Agri allied activity, clarifies FinMin

Crop and tractor loans will not be a part of the eight segments or classes eligible under the ex-gratia scheme as they come under agriculture and allied activities loans. from Banking & Finance – The Financial Express https://ift.tt/3jCeu...

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Retail investors will get to own more of public sector banks, says Nirmala Sitharaman

Sees a sustained revival of the economy with demand impetus lasting beyond the festival season from Business Line - Money & Banking https://ift.tt/37TNY...

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Bank of Baroda Q2 net jumps 128%, asset quality improves

The net profit leaps because of lower provisioning, reduced cost of deposits and healthy interest income from Banking & Finance – The Financial Express https://ift.tt/2TACH...

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Lakshmi Vilas Bank to send two more names to RBI for top post, favours local CEO

On the rights issue, Sinha said the bank is readying all the papers. “Our merchant banker is on the job and will come back with its recommendations. Following that, we will decide on the ratio and the amount.” from Banking & Finance – The Financial Express https://ift.tt/37TMS...

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RBI board mulls future course for weaker banks

Five banks – Central Bank of India, IDBI Bank, Indian Overseas Bank, Uco Bank and Lakshmi Vilas Bank – are now under the RBI prompt corrective action (PCA) framework that brings in multiple restrictions aimed at conserving capital of banks and better their loss-absorption capacity. from Banking/Finance-Industry-Economic Times https://ift.tt/3jFMT...

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Non-food bank credit growth decelerated to 5.8% in September

Within industry, credit to food processing, petroleum, coal products & nuclear fuels, leather & leather products, wood & wood products, and paper & paper products registered accelerated growth in September 2020 as compared with the growth in the corresponding month of the previous year. from Banking/Finance-Industry-Economic Times https://ift.tt/3kGDm...

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Despite heavy provisioning, Canara Bank’s Q2 profit up 5.31%

Our Bureau Heavy provisioning has impacted Canara Bank’s profits. The bank has posted a 5.31 per cent higher profits for second-quarter of FY 2020-21 from Business Line - Money & Banking https://ift.tt/2JjOp...

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As fear of Covid recedes, demand for health insurance may get muted

Significant jump in premium may also make people wary of buying cover from Business Line - Money & Banking https://ift.tt/3mxrC...

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Shriram Transport Finance Q2 net profit at ₹684.56 cr

Our BureauShriram Transport Finance Company registered a 10.5 per cent drop in standalone profit after tax at ₹684.56 crore in the second quarter of from Business Line - Money & Banking https://ift.tt/3kGgk...

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Personal Guarantors: SC transfers to itself writ petitions challenging certain IBC provisions

KR SrivatsThe Supreme Court, on Thursday, directed the transfer to itself a batch of writ petitions challenging IBC provisions related to insolvency o from Business Line - Money & Banking https://ift.tt/34Ene...

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Banks record ‘nil’ growth in credit to industry in Sept

  Non-food bank credit growth decelerated to 5.8 per cent in September 2020 from 8.1 per cent in September 2019, with credit to industry recording ‘ni from Business Line - Money & Banking https://ift.tt/31T0u...

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Cholamandalam posts 41% rise in Q2 profit at ₹432 crore

Murugappa Group’s Cholamandalam Investment and Finance Company registered a 41 per cent rise in net profit at ₹432 crore for the quarter ended Septemb from Business Line - Money & Banking https://ift.tt/2HK5i...

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RBI to conduct second auction of SDLs on Nov 5

The Reserve Bank of India (RBI), on Thursday, said it will conduct the second purchase auction of State Development Loans (SDLs) under Open Market Ope from Business Line - Money & Banking https://ift.tt/3e8xN...

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Bank of Baroda net profit surges 128% to ₹1,679 crore

Bank of Baroda (BoB) reported a 128 per cent jump in second quarter standalone net profit at ₹1,679 crore against ₹737 crore in the year-ago quarter.A from Business Line - Money & Banking https://ift.tt/3oC4h...

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BBB recommends Siddhartha Mohanty for LIC’s MD post

Our BureauThe Banks Board Bureau (BBB) has recommended the name of Siddhartha Mohanty for the position of Managing Director in Life Insurance Corporat from Business Line - Money & Banking https://ift.tt/3mCyC...

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Bank of Baroda Q2 profit surges 128%

Bank of Baroda (BoB) reported a 128 per cent jump in second quarter net profit at ₹1,679 crore, against ₹737 crore in the year-ago quarter.A 34 per ce from Business Line - Money & Banking https://ift.tt/35Heg...

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Banks, NBFCs are like Indian cricket team of 1990s, says CEA Subramanian

K V Subramanian said that while regulators are mandated to monitor, at an individual level, every NBFC needs to monitor its rollover and inter-connectedness risks. from Banking & Finance – The Financial Express https://ift.tt/2TDvL...

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UPI transactions see quantum jump in H1; IMPS growth slackens

K Ram KumarEase of use and free-of-charge transactions are triggering a quantum jump in Unified Payments Interface (UPI)-based digital payments even from Business Line - Money & Banking https://ift.tt/2G9eL...

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RBI imposes Rs 22 lakh fine on DCB Bank for violating marketing norms

"The RBI has...imposed a monetary penalty of Rs 22 lakh on DCB Bank for non-compliance with certain provisions of directions issued by RBI contained in the circular on 'Marketing/distribution of mutual fund/insurance etc., products by banks' dated November 16, 2009," the RBI order attached with the filing said. from Banking/Finance-Industry-Economic Times https://ift.tt/2TyM1...

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Indian financial sector has miles to go: Chief Economic Advisor

Banks, NBFCs must tap Covid crisis to up global game, deploy tech extensively, says Subramanian from Business Line - Money & Banking https://ift.tt/3e8Uk...

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IndusInd Bank goes live on Account Aggregator Framework

First bank to do so in India; helps customers share their financial info with Financial Information Users on the Account Aggregator Ecosystem, securely and seamlessly from Business Line - Money & Banking https://ift.tt/3mvjN...

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Axis Bank results support stable outlook: S&P Global Ratings

About 5-8 per cent of total banking sector loans may be restructured by June-end 2021 from Business Line - Money & Banking https://ift.tt/2HK1c...

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NBFCs should avoid 'zombie lending': Chief Economic Adviser KV Subramanian

CEA KV Subramanian was referring to the situation where lending institutions continued to lend to borrowers that did not have the capacity to repay their debt, leading to a deteriorating asset quality that did not show up on the books of accounts of these lenders and eventually resulted in non-performing assets crisis. from Banking/Finance-Industry-Economic Times https://ift.tt/34HAu...

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CanFin Homes Q2 profit up 31.54% at ₹128.4 crore

CanFin Homes has posted 31.54 per cent higher profits at ₹128.41crore on a standalone basis for the second quarter of FY21, against ₹97.62 crore re from Business Line - Money & Banking https://ift.tt/31QT3...

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Lenders consider taking control of fraud-hit Sambandh Finserve

More than 30 lenders have a collective exposure of about Rs 400 crore to the company, which started defaulting since the beginning of this month. Sambandh actually has assets under management of Rs 140 crore, while it officially declared an inflated figure of Rs 383 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/3kIpq...

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Gold loans may rise sharply in coming months as banks, NBFCs make norms stricter for other loans

The higher average gold prices on-year mean gold-loan assets under management of NBFCs could grow 15-18 per cent this fiscal. from Banking & Finance – The Financial Express https://ift.tt/3ozkb...

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Healthy core performance, prudent provisioning can mitigate asset quality risks

Radhika MerwinAmid industry-wide challenges on credit offtake and deposit accretion (for a few private banks), Axis Bank put up a good show in the Se from Business Line - Money & Banking https://ift.tt/35FPm...

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AU Small Finance Bank Q2 net profit up 87%

Our BureauAU Small Finance Bank reported an 87.2 per cent jump in net profit to ₹321.87 crore in the second quarter of this fiscal from ₹171.94 crore from Business Line - Money & Banking https://ift.tt/3oBwF...

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Axis Bank posts net profit of ₹1,623 crore in Q2

Private sector lender Axis Bank reported a standalone net profit of ₹1,628.67 crore for the second quarter of the fiscal against a net loss of ₹112.08 from Business Line - Money & Banking https://ift.tt/3jJTA...

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SBI signs $1-b loan deal with JBIC

State Bank of India (SBI) has signed a loan agreement amounting to up to $1 billion with Japan Bank for International Cooperation (JBIC).India’s large from Business Line - Money & Banking https://ift.tt/3mzzm...

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Petronas to focus on meeting India’s demand for LPG, LNG

Our BureauSolar, storage and Hydrogen businesses are on the radar of Petronas, according to its President and Group Chief Executive Officer, Tengku Mu from Business Line - Money & Banking https://ift.tt/2HD5m...

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ICICI Bank: US SEC investigation into loan impairment provisions over, no action to be taken

ICICI Bank has said the investigation by the United States Securities and Exchange Commission into its loan impairment provisions is over and it does from Business Line - Money & Banking https://ift.tt/37NIJ...

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SBI ties up with global education platform edX

Our BureauState Bank of India (SBI) has entered into a strategic partnership with global non-profit education platform edX, where the bank will offer from Business Line - Money & Banking https://ift.tt/3jAHD...

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RBL Bank Q2 net profit surges to ₹144 cr

Maple gets RBI nod to pick up 9.45% stake from Business Line - Money & Banking https://ift.tt/31Ne9...

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Interest waiver: Outstanding as of Feb 29 to be reference for ex gratia relief

Last Friday, the government had announced the scheme for grant of ex gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. The lending institutions have been asked to complete the exercise of crediting the amount in the accounts of borrowers by November 5. from Banking/Finance-Industry-Economic Times https://ift.tt/2JfaH...

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Gold-loan NBFCs will see up to 18% growth in AUM in FY21

Gold loan non-banking finance companies (NBFCs) will see a 15-18 per cent growth in assets under management in fiscal 2021 as demand for gold loans wo from Business Line - Money & Banking https://ift.tt/31PEl...

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Fintech firm FlexiLoans.com raises ₹150 crore

Fintech lender FlexiLoans.com has raised ₹150 crore from a mix of equity and debt, which the company will use to scale up its micro SME lending, sup from Business Line - Money & Banking https://ift.tt/2Tx78...

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Board size matters for better performance of banks: study

Empirical results suggest that board size of a Bank matters, with more board members exerting pressure for performance by better monitoring and contr from Business Line - Money & Banking https://ift.tt/2TsRB...

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UPI volumes fall in these two states, even as jump in all other states; sharpest rise in 7 sisters

While the volume surged 57.3% in India during Q1, the states in the north-east reported growth in excess of 140%. from Banking & Finance – The Financial Express https://ift.tt/2Jdao...

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Google Pay is now back for iPhone users in India

New users can now download the latest version 115.2 from the App Store while existing users will be required to update the app. from Business Line - Money & Banking https://ift.tt/2G3vw...

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Amazon Pay ICICI Bank credit card crosses 10-lakh issuance milestone

Amazon Pay and ICICI Bank on Wednesday announced that the bank has issued about 14 lakh Amazon Pay ICICI Bank credit cards. “In the process, the cred from Business Line - Money & Banking https://ift.tt/3kBMC...

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How India’s biggest bank merger would stack up in numbers

Kotak Mahindra Bank Ltd’s potential takeover of IndusInd Bank Ltd would create India’s eighth-largest lender by assets at a time when the nation is battling one of the world’s worst bad debt problems. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2TJeB...

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RBI report: States to re-prioritise revenue spends; sharp cutback in capex on the cards

India has the highest decentralisation of capital expenditure across countries, suggests RBI report on State finances from Business Line - Money & Banking https://ift.tt/34wg1...

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SBI General Insurance H1 net profit jumps 53% to ₹300 crore

SBI General Insurance has registered a 53 per cent jump in its net profit for the first half of FY21 at ₹300 crore, compared to ₹196 crore in the sam from Business Line - Money & Banking https://ift.tt/3oxEl...

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This festive season will be the ideal time to try online trading. Demystifying misconceptions on Online Trading

from Banking/Finance-Industry-Economic Times https://ift.tt/3kvJ5...

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Jan Dhan accounts rise 60% amid pandemic, help stifle crime: SBI Research

Citing empirical research, the report said PMJDY accounts work as a primary vehicle for labour remittances, apart from increased lending, smoothing consumption, increased spending on healthcare and, most importantly, the usage is more frequent in areas that are more crime prone. from Banking/Finance-Industry-Economic Times https://ift.tt/34BMW...

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Loans against FDs, bonds, shares out of Nirmala Sitharaman's relief plan

For payment to credit card holders, the relief will be calculated using the interest rate charged by the bank for converting outstandings into EMIs and not the rate charged to those who revolve their balances. from Banking/Finance-Industry-Economic Times https://ift.tt/3e2Yo...

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US SEC not to take action against ICICI Bank in provisioning probe

ICICI Bank on Tuesday said the US Securities and Exchange Commission (SEC) has concluded a probe into the bank’s bad-loan provisioning exercise and decided not to take any enforcement action against it. from Banking & Finance – The Financial Express https://ift.tt/2HvYU...

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Economy saw growth rebound through Q2FY21: Nomura

The Nomura Monthly Activity Indicator, which takes into account high-frequency indicators from across sectors, improved to -8.6% year-on-year in September from -19.7% in August and a record low of -37.8% in June, “implying a swift GDP growth rebound”, the firm said in a report on Tuesday. from Banking/Finance-Industry-Economic Times https://ift.tt/35CRu...

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Paytm Money to facilitate ETF investment

Paytm Money, which provides investment in direct plans of mutual fund schemes, will now facilitate investment in Exchange Traded Funds after getting t from Business Line - Money & Banking https://ift.tt/37LXM...

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CSB Bank partners IIFL Fin for sourcing retail gold-loan assets

CSB Bank (formerly Catholic Syrian Bank) has entered into a partnership with IIFL Finance (IIFL) for sourcing and managing retail gold loan assets.IIF from Business Line - Money & Banking https://ift.tt/34zbQ...

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CSB Bank, IIFL Finance join hands to offer gold loans in untapped locations

Under the partnership, IIFL, a non-banking financial company, will act as a business correspondent of CSB Bank and will source new business from markets where CSB Bank does not have adequate branch network. from Banking/Finance-Industry-Economic Times https://ift.tt/37Ow5...

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Can Long-Short funds smooth out the Short-Term Conundrums

from Banking/Finance-Industry-Economic Times https://ift.tt/3dYQK...

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Why did Aditya Puri return to India? Was it family or HDFC Bank?

"The true thing is I almost did not come back," Puri said in one of the many interviews over the years. "I came back because of my father (Wing Commander Tapishwar Puri). I was still thinking… because I was sitting so pretty. I said papa why don’t you move to KL. There is enough help and we will look after you. He said no I don’t want to leave India. And I want to spend my last years with you. I want to die in your house." from Banking/Finance-Industry-Economic Times https://ift.tt/37Kwf...

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Balanced Advantage Funds vs Balanced Funds

from Banking/Finance-Industry-Economic Times https://ift.tt/2G6vP...

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5 Behavioral Financial Biases In Mutual Fund Investing - Radhika Gupta

from Banking/Finance-Industry-Economic Times https://ift.tt/2Hz8W...

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Why Take Investment Risks ?| Risk Zaroori Hai by Radhika Gupta

from Banking/Finance-Industry-Economic Times https://ift.tt/34y6s...

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'Impossible Trinity' pushing Reserve Bank toward stronger rupee

One of the toughest challenges central bankers face is how to navigate the “Impossible Trinity” -- maintaining monetary policy independence while allowing a steady flow of foreign capital and keeping a stable currency. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Tsto...

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Lenders to credit 'interest on interest' to borrowers account by November 5, Centre tells SC

"Under the scheme, all lending institutions (as defined under clause 3 of the scheme) shall credit the difference between compound interest and simple interest in the respective accounts of eligible borrowers for the period between March 1, 2020 to August 31, 2020," the govt said. from Banking/Finance-Industry-Economic Times https://ift.tt/2HGkV...

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Massive jump in Jan Dhan accounts during pandemic; labour remittances touch pre-Covid levels

The coronavirus pandemic has led to a 60 per cent increase in the opening of new Jan Dhan accounts. from Banking & Finance – The Financial Express https://ift.tt/37Xfj...

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RBI asks lenders to implement compound interest waiver scheme

The Reserve Bank on Tuesday asked all lending institutions, including NBFCs, to implement the waiver of interest on interest for loans up to ₹2 cror from Business Line - Money & Banking https://ift.tt/37K4S...

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PMJDY usage more frequent in areas prone to crime: SBI report

The report says the pandemic has led to a 60% increase in new Jan Dhan accounts from Business Line - Money & Banking https://ift.tt/31MF7...

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RBI asks lending institutions to implement waiver of interest on interest scheme

The scheme mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound interest for the period between March 1, 2020 to Aug 31, 2020 by respective lending institutions. The government had asked the lending institutions to complete the exercise of crediting the amount in the accounts of borrowers by Nov 5. from Banking/Finance-Industry-Economic Times https://ift.tt/3oxP5...

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RBI asks lending institutions to implement waiver of interest on interest scheme

The Reserve Bank on Tuesday asked all lending institutions, including non-banking financial companies, to implement the waiver of interest on interest for loans up to Rs 2 crore for the six months moratorium period beginning March 1, 2020. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/35GC3...

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Daily Rupee call: INR could gain today

Traders can be positive on INR until it stays above the support band; initiate fresh long positions for intraday trades with tight stop-loss from Business Line - Money & Banking https://ift.tt/3kDF6...

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Yes Bank plans to take over Anil Ambani’s HQ

Yes Bank has started the process for obtaining physical possession of Reliance Centre, the headquarters of Anil Ambani’s Reliance Group in Mumbai. The bank is seeking to either sell the property to realise its dues, or may move its headquarters there. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/37N9h...

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Paytm Money launches ETFs starting ₹16 in equity, ₹44 in gold and ₹120 for NIFTY

Eyes an user base of 100,000 in the next 12-18 months from Business Line - Money & Banking https://ift.tt/2G09q...

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November 5 cutoff for banks to credit compound interest collected

The SC had asked the government to explain the mechanism to implement its decision to waive interest on interest for the six-month moratorium period for those who had borrowed up to Rs 2 crore, including MSMEs. from Banking/Finance-Industry-Economic Times https://ift.tt/3kKZ9...

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Yes Bank starts physical takeover of Anil Ambani’s Reliance Group HQ in Mumbai

In July, the private lender had taken symbolic possession of the sprawling complex situated off the Western Express Highway and overlooking the Mumbai airport. The action was taken under the SARFAESI Act to recover dues of Rs 2,892 crore from Reliance Infrastructure. from Banking/Finance-Industry-Economic Times https://ift.tt/3e0UW...

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November 5 cutoff for banks to credit compound interest collected

The Centre on Monday informed the Supreme Court that by November 5 lending institutions must credit into the accounts of borrowers who had availed loans up to Rs 2 crore the compound interest collected during the six-month loan repayment moratorium period and then claim reimbursement from the Union government. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mofj...

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Muthoot Finance plans to garner up to Rs 2,000 crore through NCDs

NBFC Muthoot Finance on Monday announced its plan to raise up to Rs 2,000 crore through public offering of Secured Redeemable Non-Convertible Debentures (NCDs) to be utilised primarily for lending activities of the company. from Banking & Finance – The Financial Express https://ift.tt/34AJp...

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Kotak Mahindra Bank 2nd quarter net jumps 27% to Rs 2,184 crore

Kotak Mahindra Bank's net profit grew 26.7% year-on-year (y-o-y) during the September quarter to Rs 2,184.5 crore, driven by interest income and other income from Banking & Finance – The Financial Express https://ift.tt/35DHD...

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Aditya Puri hands over charge as HDFC Bank MD & CEO

At 5:30 pm on Monday, Aditya Puri stepped out of HDFC Bank's corporate headquarters after handing over charge to Sashidhar Jagdishan as the new chief executive and managing director of the largest private sector lender. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/35znN...

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DHFL lenders set October 30 deadline for revised offers, flay Wadhawan

The committee of creditors (CoC) met Monday analysing the bids it had received from Oaktree, SC Lowy, Adani Capital and Piramal Group. It will likely meet on Saturday to take a call on revised bids, three people with knowledge of the matter told ET. Lenders are in favour of negotiating hard with bidders as they aim to maximise value of assets. from Banking/Finance-Industry-Economic Times https://ift.tt/31Jz7...

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Customer spending getting back to pre-COVID levels: AU Small Finance Bank

AU Small Finance Bank is experiencing an increase of 23 per cent in per day debit card spends. Overall, point-of-sale (PoS) and e-commerce transactions witnessed a surge of 16 per cent since the launch of the festive offers, it said in a release. The bank is already witnessing a bounce back in spending to pre-COVID levels, it added. from Banking/Finance-Industry-Economic Times https://ift.tt/35zqo...

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SBI raises ₹5,000 cr by issuing Basel-III compliant bonds

The State Bank of India (SBI) on Monday said it had raised ₹5,000 crore by issuing Basel-III compliant bonds. The committee of directors of capital from Business Line - Money & Banking https://ift.tt/3jwOA...

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Nirav Modi's bail plea rejected for seventh time

A London court on Monday rejected the bail application filed by fugitive diamantaire Nirav Modi, the seventh such rejection by courts of the United Kingdom. Nirav, who is wanted in connection with the Rs 13,000 crore Punjab National Bank fraud perpetrated by him and his uncle Mehul Choksi, was arrested in London on March 19 last year on CBI's extradition request. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3jwzh...

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PNB scam case: UK court rejects Nirav Modi’s latest bail attempt

A UK court on Monday rejected the latest bail plea of fugitive diamond merchant Nirav Modi, who has been lodged in a London prison since his arrest o from Business Line - Money & Banking https://ift.tt/2Hrto...

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Sashidhar Jagdishan to take charge as MD & CEO of HDFC Bank

HDFC Bank, the country’s largest private sector lender, will have a new chief from October 27 when Sashidhar Jagdishan takes charge as Managing Direct from Business Line - Money & Banking https://ift.tt/3mpe4...

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Mahindra Finance Q2 net profit up 34%

Mahindra and Mahindra Financial Services reported a 33.7 per cent increase in consolidated net profit at ₹352.5 crore in the second quarter of the fis from Business Line - Money & Banking https://ift.tt/3kJ0k...

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Kotak Mahindra denies takeover talks with IndusInd, but says its open for M&A opportunities

Bloomberg had reported that Uday Kotak is exploring an all-stock acquisition and has held initial talks over the proposal in which the founders of IndusInd Bank could retain a stake in the lender after a deal. from Banking/Finance-Industry-Economic Times https://ift.tt/3mm6v...

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RuPay card users can avail up to 65 per cent discount on various purchases : NPCI

RuPay cardholders can revel in celebrations by availing attractive offers from not only categories such as health, fitness, education, e-commerce - which are most relevant and significant amid current scenarios - but also from dining and food delivery, shopping, entertainment, wellness, pharmacy and others. from Banking/Finance-Industry-Economic Times https://ift.tt/3dXMt...

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75% of borrowers to benefit from interest waiver: Crisil

Our BureauOver 40 per cent of system credit and 75 per cent of borrowers will benefit from interest-on-interest concession under the recently announce from Business Line - Money & Banking https://ift.tt/3mhJf...

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Will use capital cushion judiciously: Kotak Mahindra Bank

Says there are no plans to takeover IndusInd Bank from Business Line - Money & Banking https://ift.tt/2HyeH...

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Kotak Mahindra Bank Q2 profit up 27%

Our BureauPrivate sector lender Kotak Mahindra Bank reported a 26.7 per cent increase in standalone net profit to ₹2,184.84 crore from ₹1,724.48 cror from Business Line - Money & Banking https://ift.tt/35xAJ...

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Kotak Mahindra Bank’s net profit skyrockets as income from these 2 sources climb; fewer provisions set aside

Kotak Mahindra Bank's net profit surged 22.3% over the same quarter of the previous year, and 59% over Q1 FY21. from Banking & Finance – The Financial Express https://ift.tt/3dW4Q...

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LIC HFL sanctions over Rs 1,000 crore loan to pensioners in 2 months

LICHFL also expects a good festive sale on the back of stamp duty cut in many markets, falling interest rate and its festive offer to waive off processing fee for between October 1 and November 30. from Banking/Finance-Industry-Economic Times https://ift.tt/3dVYy...

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SBI Life Q2 net profit rises to ₹300 crore

SBI Life Insurance net profit more than doubled to ₹299.73 crore in the second quarter of the fiscal from ₹129.84 crore a year ago.The private sector from Business Line - Money & Banking https://ift.tt/2Hzp1...

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Kotak Mahindra Bank Q2 net jumps 27% to ₹2,184 cr

Kotak Mahindra Bank on Monday reported 26.7 per cent jump in its standalone net profit to ₹2,184.48 crore for the second quarter ended September 30.Th from Business Line - Money & Banking https://ift.tt/35Beg...

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Centre’s compound interest waiver: What borrowers need to know about the scheme

Here an FAQ covering eligibility, interest rate computation and extent of benefit available to borrowers from Business Line - Money & Banking https://ift.tt/3jvcH...

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Small HFCs may be unable to comply with RBI’s minimum fund norms: Report

They may choose to be reclassified in other NBFC categories, says CARE from Business Line - Money & Banking https://ift.tt/2TmVQ...

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Rival ICICI Bank expresses gratitude towards Aditya Puri for his contribution to banking

In a tweet, the ICICI Bank said, " #ICICIBank thanks you, Mr. Aditya Puri, for your contribution to the Indian banking industry. Throughout your illustrious career spanning decades, you have been an inspiration to many. We wish you the very best for your future endeavours." from Banking/Finance-Industry-Economic Times https://ift.tt/34qTX...

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Oaktree, Piramal ahead in race to acquire DHFL

US investment firm has offer ₹28,103 crore for entire portfolio from Business Line - Money & Banking https://ift.tt/3ku80...

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IndusInd Bank denies takeover talks with Kotak Mahindra Bank

IndusInd Bank promoters, the closely knit Hinduja family, have been engaged in a battle over the family’s assets. 84 year old SP Hinduja, the eldest of the four brothers and his daughters Shanu and Vinoo want a 2014 letter signed by the brothers declared null and void. from Banking/Finance-Industry-Economic Times https://ift.tt/37Ezj...

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DHFL Committee of Creditors to discuss four offers on Monday

This will be the first CoC meeting after the bidding process ended on October 17 from Business Line - Money & Banking https://ift.tt/3jqQU...

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RBI Governor tests positive for Covid-19

In a tweet Shaktikanta Das said he is asymptomatic and would continue to work from isolation from Business Line - Money & Banking https://ift.tt/37GHo...

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Aditya Puri: A stickler who ensured a lot doesn't happen over coffee

While heading a foreign bank's operations in Malaysia in the early 1990s, Puri got an offer from Deepak Parekh of mortgage major HDFC to come back to India to start a bank in an economy which had shifted gears with liberalization moves. from Banking/Finance-Industry-Economic Times https://ift.tt/3opry...

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Avendus Capital looks to treble asset management biz AUM to $3 billion by 2024

Its management, led by co-founder and vice-chairman Ranu Vohra, has set a target of taking it to over $3 billion (over Rs 22,000 crore) over the next four-five years and to ensure that half of the incremental growth comes from overseas. from Banking/Finance-Industry-Economic Times https://ift.tt/2TBkk...

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Religare gets interest from some investors for RFL; introduces them to lenders

According to banking sources, Religare Enterprises introduced a couple of investors for RFL to lenders in a meeting with bankers held recently. from Banking/Finance-Industry-Economic Times https://ift.tt/3dZuG...

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Yes Bank lacked cost control: CEO Kumar

Yes Bank lacked a culture of cost control, and under the new management, the lender is targeting to reduce operational expenses by 20 per cent in FY21 by rationalizing branches and ATMs, giving up unwanted leased spaces and renegotiating rents, a top official has said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34wnH...

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Pandemic to change Indian insurance sector's landscape: IndiaFirst Life

"The pandemic will change the landscape of the insurance industry. The cost base of insurance companies will go down. It will go down because will only incur the expenses which are critical and expenses which are 'luxurious' will reduce extensively," the IndiaFirst Life Insurance Company Ltd (IndiaFirst Life) deputy CEO said. from Banking/Finance-Industry-Economic Times https://ift.tt/2FW0c...

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Yes Bank lacked cost control; aim to cut operational expenses by 20% in FY21: CEO Prashant Kumar

The city-based lender is experiencing delays in loan recovery efforts as big defaulters are approaching courts, its new chief executive and managing director Prashant Kumar told PTI. Kumar was asked to lead Yes Bank in March after its rescue by a SBI-led consortium of lenders after alleged governance lapses under co-founder and chief executive Rana Kapoor. from Banking/Finance-Industry-Economic Times https://ift.tt/2TkZH...

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IRDAI proposes changes in insurance advertisement regulations

The objective of the proposed regulation, IRDAI said, is to ensure that the insurers, intermediaries or insurance intermediaries adopt fair, honest and transparent practices while issuing advertisements, and avoid practices that tend to impair the confidence of the public. from Banking/Finance-Industry-Economic Times https://ift.tt/35w3W...

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