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Saturday, April 24, 2021

Staff of Regional Rural Banks to receive arrears of wage-revision soon

Nearly one lakh employees working in Regional Rural Banks (RRBs) can expect their arrears of pay revision and allowances soon. The Department of Finan from Business Line - Money & Banking https://ift.tt/2RZCy...
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Strategy to ‘conserve, emerge stronger’ helped Karnataka Bank during pandemic: MD

The digital transactions of Karnataka Bank stood at an all- time high exceeding 90 per cent, he adds from Business Line - Money & Banking https://ift.tt/3ewF9...
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ICICI Bank Q4 profit surges 260% to ₹4,402 cr

Net interest income rises 17% to ₹10,431 crore from Business Line - Money & Banking https://ift.tt/3xlSP...
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Karnataka Bank aims to grow at 12 per cent in FY22

As a realignment strategy in its advances portfolio, the private sector lender said it has been eyeing credit exposure of minimum 50 per cent to retail, 35 per cent to mid corporates and not more than 15 per cent to large corporates. The intent is to minimise the concentration on large corporate borrowers and to ensure continued sustainability, it said. from Banking/Finance-Industry-Economic Times https://ift.tt/3eu4j...
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How banks are strengthening their technology prowess to provide hyper-personalised baking services

Riding on surging ambitions, customer behaviour and access to technology, banking has become a service by escaping the confines of locations & physical infrastructure. from Banking & Finance – The Financial Express https://ift.tt/3aBzR...
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Citi India’s $2 billion retail business worth tops in Asia: Report

According to a report by the Australian bank, going by SBI Card’s valuation, Citi’s 2.7 million cards would imply a figure of $2.7 billion. “This is above the top end of our valuation… To the the extent that a single buyer is able to purchase multiple businesses at once, we would expect some sort of valuation discount in order to expedite Citi’s exit,” the report said. from Banking/Finance-Industry-Economic Times https://ift.tt/2PmIE...
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Total ban: RBI restricts Amex, Diners Club from acquiring new customers

The circular directed all payment system providers to ensure that within a period of six months the entire data relating to payment systems operated by them is stored in a system only in India. from Banking & Finance – The Financial Express https://ift.tt/2RYBR...
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IRDAI ask insurers to ensure expeditious settlement of COVID-19 claims

The regulator noted that there are reports of certain network providers (hospitals) charging high rates and insisting on cash payments from the policyholders for providing treatment to COVID-19 infected patients despite having cashless arrangement with insurers. from Banking/Finance-Industry-Economic Times https://ift.tt/3tOK9...
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Friday, April 23, 2021

EPF gets 4.11 crore new subscribers between 2017-21

Over 24 lakh opted for the New Pension Scheme from Business Line - Money & Banking https://ift.tt/3xiTa...
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Short-tenor G-Sec prices rise

Govt raises ₹10,000 cr less at the weekly G-Sec auction from Business Line - Money & Banking https://ift.tt/3evH1...
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Reserve Bank of India bans Amex, Diners from selling new cards from May 1

The action has been take as these entities have been found non-compliant with the directions on storage of payment system data which the central bank had asked them to store in India, RBI said. from Banking/Finance-Industry-Economic Times https://ift.tt/3sJWQ...
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Mahindra Finance Q4 net profit down 8%

Our BureauMahindra and Mahindra Financial Services reported an 8 per cent decline in consolidated net profit for the fourth quarter of 2020-21.Its co from Business Line - Money & Banking https://ift.tt/3tYgl...
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RBI imposes restrictions on American Express and Diners Club

The Reserve Bank of India (RBI) has imposed restrictions on American Express Banking Corp and Diners Club International Ltd from on-boarding new domes from Business Line - Money & Banking https://ift.tt/2RNQm...
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SBI business activity index at 5-month low

Lender’s economic research department revises GDP growth forecast to 10.4% from Business Line - Money & Banking https://ift.tt/3eG5x...
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Macquarie estimates upto $8 bln value for Citi's APac consumer business

The Australian brokerage has pencilled in DBS Bank Ltd, Oriental and Commercial Bank of China (OCBC) and Standard Chartered (StanC) as the most likely cross-border buyers for a bouquet of assets across Asia from Banking/Finance-Industry-Economic Times https://ift.tt/2QPfs...
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Indian banks' loans rose 5.3% y/y in two weeks to April 9: RBI

Outstanding loans fell by 603.33 billion rupees ($8.04 billion) to 108.89 trillion rupees in the two weeks to April 9. Non-food credit fell by 487.78 billion rupees to 108.39 trillion rupees, while food credit fell by 115.55 billion rupees to 496.99 billion rupees. from Banking/Finance-Industry-Economic Times https://ift.tt/3dLQY...
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Insurance industry reports a tepid 5% growth in FY21

Standalone health insurers like Star Health, Aditya Birla Health Insurance, Max Bupa reported robust growth in their gross direct premium income (GDPI) in FY21. from Banking/Finance-Industry-Economic Times https://ift.tt/2RY8n...
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Muthoot Microfin added 37% more employees in pandemic period, disburses Rs 2,700 cr loan in FY21

Muthoot Microfin has expanded its employee strength by 37 per cent during a period when retaining employees and maintaining salaries came across as a major challenge for businesses worldwide, the company said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3tMSX...
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RBI nod for appointment of Atanu Chakraborty as part-time Chairman of HDFC Bank

The Reserve Bank of India has approved the appointment of Atanu Chakraborty as part-time Chairman of HDFC Bank.In a regulatory filing on Friday, the p from Business Line - Money & Banking https://ift.tt/3ndkK...
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HDFC Bank deploys mobile ATMs

The ATM will be available in 19 cities from Business Line - Money & Banking https://ift.tt/3dGRC...
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ICICI Bank, SBI Cards see robust growth in credit cards

This concides with HDFC Bank temporarily halting the sourcing of new credit card customers from Business Line - Money & Banking https://ift.tt/2QRzr...
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SBI launches video KYC on mobile banking app YONO

The digital initiative, powered by AI and Facial Recognition Technology, is a contactless and paperless process from Business Line - Money & Banking https://ift.tt/2QUf7...
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RBI partially lifts freeze on dividend declaration by commercial banks for FY21

On April 17, 2020, RBI had directed commercial banks and co-operative banks not to make any further dividend payouts for the financial year ended March 31, 2020 from Business Line - Money & Banking https://ift.tt/3vaOa...
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SBI research dept cuts FY22 real GDP forecast to 10.4% from 11%

The ERD estimates monetary impact of the current lockdown in various States at Rs 1.5 lakh crore from Business Line - Money & Banking https://ift.tt/2QpuA...
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RBI approves appointment of Atanu Chakraborty as part time Chairman, HDFC Bank

Previously, he served as Secretary, DIPAM from Business Line - Money & Banking https://ift.tt/2PdlL...
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RBI approves appointment of Atanu Chakraborty as part-time chairman of HDFC Bank

HDFC Bank said a meeting of the board of directors of the bank will be convened in due course inter-alia to consider the appointment of Atanu Chakraborty as the part-time chairman and additional independent director of the bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3vbUN...
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Hospitals can’t deny cashless Covid claims, rules Irdai

Union finance minister Nirmala Sitharaman too tweeted about this on Thursday evening saying: “Reports are being received of some hospitals denying cashless insurance. Spoken to chairman, Irdai SC Khuntia to act immediately. In March’20 Covid included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals.” from Banking/Finance-Industry-Economic Times https://ift.tt/3eoue...
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FM speaks to IRDAI Chairman on Covid insurance claims

As on 20/4/21, over 9 lakh Covid-related claims have been settled, Nirmala Sitharaman tweeted from Business Line - Money & Banking https://ift.tt/3gx1a...
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Indian Overseas Bank appoints E&Y as digital consultant

IOB said the consultant has been appointed as part of its growth strategy and to transform its banking services into a digitalised form. from Banking & Finance – The Financial Express https://ift.tt/32GrM...
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Federal Bank partners with neobank Fi to issue a savings account

The partnership will enable to issue a savings account, equipped with a debit card, in under three minutes. from Banking & Finance – The Financial Express https://ift.tt/2Pc7Y...
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Thursday, April 22, 2021

IRDAI issues clarification on cashless claims in Covid-19 cases

FM has also clarified that cashless service will be available at all places from Business Line - Money & Banking https://ift.tt/3tJKf...
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FM asks IRDAI to act against insurers for denying cashless claims

"Reports are being received of some hospitals denying cashless insurance. Spoken to Chairman, IRDAI Shri SC Khuntia to act immediately. In March'20 #Covid included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals," the minister said in a series of tweets. from Banking/Finance-Industry-Economic Times https://ift.tt/3sJc2...
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Need to mitigate pandemic’s impact on economy was the main theme of MPC meet

The resurgence of Covid-19 infections and the need to mitigate the pandemic’s impact on the economy was the centerpiece of discussions of the six-memb from Business Line - Money & Banking https://ift.tt/3sIWn...
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Despite bright spots, uncertainty looms over microfinance business

Near-term business prospects across states are, however, more clouded with the outburst of Covid-19 cases over the past couple of weeks. Industry leaders, especially those with small and medium sized NBFC-MFIs, are anticipating a liquidity crunch in the event of fresh lockdowns. from Banking/Finance-Industry-Economic Times https://ift.tt/3gvom...
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Indiabulls Housing Finance to change its avatar, become originator of loans

Managing director Gagan Banga said the company has taken a conscious decision to no longer expand its balance sheet but instead earn income by originating loans for HDFC. from Banking/Finance-Industry-Economic Times https://ift.tt/3vaDp...
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COVID-19 related disruptions raise concerns over NBFCs retail loans: Study

"The rising COVID-19 cases in April 2021 has again raised concerns on the asset quality of the retail loans of NBFCs and HFCs given the increasing instances of lockdowns in various cities coupled with a gradual rise in severity of such restrictions by some state governments," Icra Ratings said in a report. from Banking/Finance-Industry-Economic Times https://ift.tt/3dEru...
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Banks to provide basic services, business hours to be curtailed

At its managing committee meeting held Wednesday, IBA said that banks would continue providing four basic banking services -- accepting deposits, cash withdrawals, remittance and government businesses employees may be working on rotation as a business continuity plan. from Banking/Finance-Industry-Economic Times https://ift.tt/3auoL...
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Indian Bank in pact with Chennai Angels for start-up financing

Indian Bank has signed an agreement with The Chennai Angles for financing start-ups under its loan programme, ‘IND Spring Board.Start-ups generally fi from Business Line - Money & Banking https://ift.tt/3sFZN...
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Neeraj Dhawan appointed Experian India MD

Experian India, on Thursday, said it has strengthened its senior leadership team with the appointment of Neeraj Dhawan as the new Managing Director of from Business Line - Money & Banking https://ift.tt/3gCFy...
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Break the chain: IBA asks banks to restrict services in view of surge in Covid-19 cases

Working hours could be restricted from 10 am to 2 pm from Business Line - Money & Banking https://ift.tt/2Pg5l...
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COVID impact: IBA asks SLBCs to take decision on functioning of banks based on local situation

"We are also suggesting SLBC convenors to separately call meetings of all stakeholders including Chief Medical Officers and senior level government officials and deliberate on emerging situations in their respective states and issue advisories to the banks," IBA CEO Sunil Mehta said in a letter addressed to heads of banks. from Banking/Finance-Industry-Economic Times https://ift.tt/2QgWq...
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HSBC India partners with Google Pay for tokenisation on its credit card portfolio

The move is in line with the bank’s ongoing endeavour towards enhanced security and convenience for its card holders from Business Line - Money & Banking https://ift.tt/3gIbv...
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IOB appoints EY as its digital consultant

Chennai-headquartered Indian Overseas Bank (IOB) has roped in Ernst & Young as its digital consultant to transform its banking services, with an from Business Line - Money & Banking https://ift.tt/3sDMZ...
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Housing demand structural, here to stay: Deepak Parekh

Prop tech companies can play a big role in all major global economies, says the HDFC chairman from Business Line - Money & Banking https://ift.tt/3tH30...
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Creditas Solutions plans global expansion

Eyes ₹1,000-crore in annual revenue in the next 5 years from Business Line - Money & Banking https://ift.tt/3nc13...
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HDFC-IBHFL co-lending partnership: Is it a prelude to something bigger?

It is to be noted that there are no specific RBI guidelines governing co-lending by two NBFCs from Business Line - Money & Banking https://ift.tt/32zf9...
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Libor drops to record low

Funding markets awash with cash have kept borrowing costs anchored near zero from Business Line - Money & Banking https://ift.tt/2RJG4...
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BankBazaar to add 600 new hires to support growth and expansion in FY22

The company will hire across tech, product, operations and customer service domains from Business Line - Money & Banking https://ift.tt/3sGRc...
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Wednesday, April 21, 2021

J&K Bank director Rigzian Sampheal resigns; PNB Housing re-appoints Nilesh S Vikamsey

The board of directors of PNB, on recommendation of the nomination and remuneration committee, approved on April 20, 2021 reappointment of Nilesh S Vikamsey as an additional director in the category of independent director, PNB Housing Finance said. from Banking/Finance-Industry-Economic Times https://ift.tt/3n7if...
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Barton Breeze launches bank guarantee for hydroponic farms

TV JayanIn an attempt to make hydroponic farming attractive to those interested in farming, Barton Breeze, a Gurugram-based agritech firm, has come u from Business Line - Money & Banking https://ift.tt/2QdEO...
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HDFC enters into co-lending partnership with Indiabulls Housing Finance

Our BureauHousing Development Finance Corporation (HDFC) Ltd has entered into a strategic co-lending partnership with Indiabulls Housing Finance to of from Business Line - Money & Banking https://ift.tt/2RJwt...
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COVID impact: Bank unions urge IBA for restriction in services, cutting public dealing hours

The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, in a representation to Indian Banks' Association (IBA) Chairman Raj Kiran Rai G said branches with continued footfalls and across-the-counter connect with customers are potential hubs of infections. from Banking/Finance-Industry-Economic Times https://ift.tt/3tzEf...
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Indiabulls partners with HDFC Ltd to offer home loans

Both the home financiers will frame a common credit policy with IBH originating retail housing loans. While HDFC will retain 80 percent of any such credit on its book, the rest 20 percent will go to IBH’s loan book. Indiabulls will service the loan account throughout the life cycle of the loan. from Banking/Finance-Industry-Economic Times https://ift.tt/3vbwe...
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Indiabulls Housing, HDFC ink pact for co-lending

IBH will retain 20 per cent of the loan in its books, and 80 per cent will be on HDFC books from Business Line - Money & Banking https://ift.tt/2QOgf...
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Covid 2.0: UFBU urges IBA to restrict banking services to essential activities

Also, it seeks the realignment of banking hours to 3-4 hours a day. from Business Line - Money & Banking https://ift.tt/2RUBD...
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Private life insurers' new premium income grows 8 pc in FY21

Life insurers reported stellar individual annual premium equivalent (APE) growth of 90 per cent in March due to low base, translating into a 40 per cent growth in Q4 and a full 8 per cent for FY21, said the report. It, however, added that the two-year individual APE growth was a modest 6 per cent for the year. from Banking/Finance-Industry-Economic Times https://ift.tt/3dE3w...
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Value of FPI stock holdings soar by $105 bn in Sept-March: Report

India only market to have seen net positive inflows during the year, despite a dip in March: BoFA Securities from Business Line - Money & Banking https://ift.tt/3vbia...
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FirstRand Bank, South Africa's second largest bank, to exit India after 12 years

The news was broken to FirstRand staff via a video conference on Tuesday. In response to a query from ET India CEO Rohit Wahi shared a statement confirming the shut down of its only branch in Mumbai and a retreat into a limited representative office. The move is likely to impact at least 50 jobs in India. from Banking/Finance-Industry-Economic Times https://ift.tt/2QnXq...
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Tata Steel, HSBC execute paperless trade transaction

Company pivots end-to-end blockchain-enabled digital trade finance; plans to replicate in trade with other countries from Business Line - Money & Banking https://ift.tt/3vch7...
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Third party motor insurance premium may go up in 2021-22

IRDAI had not changed the rates in the previous year due to the pandemic from Business Line - Money & Banking https://ift.tt/2RTYp...
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DCB Bank acquires minority stake in Techfino Capital

The funds raised by Techfino will be used to enhance current tech stack from Business Line - Money & Banking https://ift.tt/2QKfW...
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Credit card issuances decline in Feb; ICICI Bank leads new issuances

Interestingly, ICICI Bank held a 70% share in new credit cards issued in December 2020 — the same month when the RBI barred market leader HDFC Bank from issuing fresh cards as penalty for repeated digital outages. from Banking & Finance – The Financial Express https://ift.tt/3x52t...
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E-commerce, OTT, gaming register over 100 pc rise in business in 2020: PayU

The retail and e-commerce segments recorded a massive 106 per cent increase in the number of transactions and a 124 per cent rise in expenditure between the first and last six months of 2020. "The gaming segment saw a phenomenal 100 per cent increase in expenditure and a 154 per cent increase in average ticket size between the two years," the report said. from Banking/Finance-Industry-Economic Times https://ift.tt/3szmc...
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Tuesday, April 20, 2021

NPAs of state-owned banks may cross 18% in extreme case scenario: Former RBI Dy Governor Khan

As per the Financial Stability Report released by the Reserve Bank of India (RBI), the NPAs of the banking sector were projected to surge to 13.5 per cent of advances by September 2021, from 7.5 per cent in September 2020, under the baseline scenario. from Banking/Finance-Industry-Economic Times https://ift.tt/3tGLP...
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LIC collects highest ever new premium at Rs 1.84 lakh crore

In the fiscal year gone by, LIC achieved its highest ever First Year Premium Income of Rs.56,406 crores under Individual Assurance Business with a 10.11% growth over last year. from Banking/Finance-Industry-Economic Times https://ift.tt/3v38d...
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M Narasimham, father of banking reforms, dead

Our Bureau Former Reserve Bank of India (RBI) Governor Maidavolu Narasimham passed away in Hyderabad on Tuesday. He was 94. The recommendations of the from Business Line - Money & Banking https://ift.tt/3n4CZ...
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Maidavolu Narasimham: Father of banking reforms is no more

Narasimham joined the RBI as a research officer and then went on to serve the Indian government. He was an additional secretary at the Department of Economic Affairs, and was also in the Finance Ministry prior to economic liberalisation in the 90s. from Banking/Finance-Industry-Economic Times https://ift.tt/3n5Aq...
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LIC collects highest-ever premium of ₹1.84-lakh crore in FY21

Our BureauLife Insurance Corporation of India said it has collected the highest-ever premium of ₹1.84-lakh crore in 2020-21, and has paid out ₹1.34-la from Business Line - Money & Banking https://ift.tt/3egJY...
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What’s next in the world of cryptos and blockchain?

They have advantages, including cost savings and decentralisation; but like any other technology, they come with trade-offs from Business Line - Money & Banking https://ift.tt/3ewF7...
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A digital currency to fight data overlords

A digital euro would let people “make payments without sharing their data with third parties” from Business Line - Money & Banking https://ift.tt/3gpev...
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Banks get new tool to assess new to credit customers

Such new to credit customers were historically difficult to assess because they have no formal credit history. But they are the fastest growing borrower group for banks to tap, though lenders were cautious in giving them loans as there was no way to assess their default probability. from Banking/Finance-Industry-Economic Times https://ift.tt/3sBQN...
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Market players averse to conversion of short-tenor G-Secs into long-tenor G-Secs

They fear that a rise in interest rates could adversely impact prices of long-tenor securities from Business Line - Money & Banking https://ift.tt/3anGX...
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Blacksoil invests over Rs 160 crore across 8 deals in March quarter

Over the years, BlackSoil’s focus has been increasingly towards venture debt to VC-backed growth companies & structured debt to growth small and medium enterprise (SME) companies. from Banking/Finance-Industry-Economic Times https://ift.tt/3v5ow...
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Muthoottu Mini Financiers eyes 100 new branches, increasing booksize by ₹1,500 cr this FY

Expects to hit ₹7,000 crore assets under management by 2024 from Business Line - Money & Banking https://ift.tt/3eklR...
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Domino’s data breach: Credit card details of over 10 lakh Indians allegedly leaked

A data breach in the servers of Domino’s, the pizza brand, has allegedly exposed sensitive information of its Indian users, according to Israel-based cybersecurity firm, Under The Breach. from Banking/Finance-Industry-Economic Times https://ift.tt/3vask...
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Monday, April 19, 2021

HC raps IRDAI for turning blind eye to non-implementation of Mental Healthcare law

The court's observations came while hearing a woman's plea whose claim for reimbursement of costs for treatment of schizophrenia were rejected by the National Insurance Company Ltd (NICL) on the ground that psychiatric disorders were excluded from medical cover. from Banking/Finance-Industry-Economic Times https://ift.tt/2QBav...
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After blockchain test in space, JPMorgan offers solution to improve global funds transfers between banks

JPMorgan is working with 12 Taiwan banks for testing the use of blockchain technology to improve money transfers between banking institutions globally. from Banking & Finance – The Financial Express https://ift.tt/3egx3...
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Not necessary to activate CCyB for banks now: RBI

Our BureauThe Reserve Bank of India (RBI), on Monday, said it is not necessary to activate Counter-Cyclical Capital Buffer (CCyB) for banks at this po from Business Line - Money & Banking https://ift.tt/3gjGW...
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ICICI Prudential Life Insurance Q4 profit down 64.5%

ICICI Prudential Life Insurance reported a 64.5 per cent drop in net profit for the fourth quarter of 2020-21 at ₹63.8 crore compared to ₹179.49 crore from Business Line - Money & Banking https://ift.tt/2QDzC...
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RBI set up 6-member panel to review working of ARCs

Our Bureau The Reserve Bank of India (RBI) has set up a six-member committee to undertake a comprehensive review of the working of Asset Reconstructio from Business Line - Money & Banking https://ift.tt/3tACV...
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Paytm expands ESOP scheme to $604 million

Our BureauIn a bid to attract and retain top talent, Paytm has expanded its ESOP pool to 2.4 million equity options. With this addition, the company’s from Business Line - Money & Banking https://ift.tt/2OZLV...
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Rising cases of Covid to hit securitisation volume in near term: Crisil

Though securitisations surged in Q4 FY21, they are still below pre-Covid levels. from Business Line - Money & Banking https://ift.tt/3ebkg...
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FIDC urges RBI to extend one-time restructuring of MSME advances

Says MSMEs, retail and wholesale industry have not been able to revive economic activity from Business Line - Money & Banking https://ift.tt/3mWNw...
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Muthoot MD shines a light on how gold loan business works, with Covid as a backdrop

We do not give finance on gold bars, coins, bullions etc. We only give loans against household ornaments. Ornaments also have a 15% to 20% making charges which is an additional margin of cushion that we have. It means that the customers equity in this is not 100, it is actually 120, against which he takes just 65% or 70% or 75%. from Banking/Finance-Industry-Economic Times https://ift.tt/3v2WK...
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S Ramann takes charge as SIDBI chief

Sivasubramanian Ramann took charge as the Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI) on Monday. His app from Business Line - Money & Banking https://ift.tt/3apc2...
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Finance Ministry asks State-run banks, insurers to consider postponing promotion pocess in view of Covid

‘Ensure that promotion process factors in the constraints likely to be faced by officers and staff’ from Business Line - Money & Banking https://ift.tt/2OZ1Z...
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HDFC Bank embarks on Technology Transformation Agenda: MD Sashi Jagdishan to employees

Giving details of the Technology Transformation Agenda, Jagdishan said that the bank has invested heavily in the infrastructure to handle any potential load that it might encounter in the next 3 to 5 years. "We are also in the process of accelerating our cloud strategy to be on the cutting edge leveraging best in class cloud service providers," he added. from Banking/Finance-Industry-Economic Times https://ift.tt/3tvZn...
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HDFC Bank embarks on tech transformation agenda: MD tells employees

Move follows RBI penalising the bank for 2 major outages; HDFC Bank faced 5 outages in last 28 months from Business Line - Money & Banking https://ift.tt/3syl3...
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SBM bets on tie-ups to grow India ops; not to add branches

Tie-ups to be with fintechs with the right platform, user interface, and customer base from Business Line - Money & Banking https://ift.tt/3mXuy...
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ESAF Small Finance Bank raises ₹162 crore through preferential allotment

Shelves IPO plans in view of subdued market outlook on BFSI stocks from Business Line - Money & Banking https://ift.tt/3txuk...
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SBM Bank bets on tie-ups to grow India ops; not to add branches

DBS, the only other wholly-owned subsidiary, acquired struggling private sector lender Lakshmi Vilas Bank last year, which gave it access to 563 branches. from Banking/Finance-Industry-Economic Times https://ift.tt/2RCRC...
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LIC appoints Paytm to handle its e-payments

According to sources, there were 17 payments platforms that had bid aggressively. Paytm’s ability to straddle multiple payment services worked in its favour as others were dominant in particular segments like UPI or cards. from Banking/Finance-Industry-Economic Times https://ift.tt/2QdWh...
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View: Why use muscle? Big data can collect debt without harassment

By training the algorithms to mine the data, the big data analytics can now predict which customers will most likely resume paying after missing a couple of installments, and who will probably default. from Banking/Finance-Industry-Economic Times https://ift.tt/3dscP...
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Sunday, April 18, 2021

FT’s six suspended debt plans got ₹1,536 cr in April 1st fortnight

The six suspended debt schemes of Franklin Templeton have received ₹1,536 crore from maturities, coupons, sale and prepayments in the fortnight ended from Business Line - Money & Banking https://ift.tt/3v05m...
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HDB Financial Services reports 17% drop in net profit in March quarter

Analysts said the company has been able to arrest the slide in asset quality after a deteriation in the nine months of the fiscal. Gross NPAs had increased to 5.9% in December from 5.1% in September 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3sqzR...
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Market share of banks in individual housing loans up: NHB report

The pace of growth remained higher partly supported by portfolio buyouts leading to increase in their market share from Business Line - Money & Banking https://ift.tt/3mXCy...
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Explain basis for approving insurance policies excluding mental illnesses from full coverage: HC to IRDA

Justice Prathiba M Singh said the Mental Healthcare Act of 2017 makes it clear that there can be no discrimination between mental and physical illnesses and the insurance provided in respect thereof. from Banking/Finance-Industry-Economic Times https://ift.tt/3aCNg...
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Irdai imposes Rs 51 lakh penalty on 4 insurers

A penalty of Rs 25 lakh has been imposed on SBI General Insurance Company for not fulfilling regulatory obligations under the Motor Third Party (MTP) business. Penalty of Rs 13 lakh imposed on Liberty General Insurance Limited, Rs 10 lakh penalty on Bajaj Allianz General Insurance Company, and Rs 3 lakh on Royal Sundaram General Insurance Company. from Banking/Finance-Industry-Economic Times https://ift.tt/2QbM8...
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New modus operandi by fraudsters to withdraw money from ATMs

In a recent communication to all banks, the central government has said the MiTM attacks have been increasing under which messages sent by 'ATM Switch' to 'ATM Host' are altered by attackers to withdraw cash fraudulently. from Banking/Finance-Industry-Economic Times https://ift.tt/3tvHk...
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Expect Religare Finvest's debt restructuring to be over in 2 months, says official

The earlier DR plan was rejected by the Reserve Bank of India (RBI) in March 2020 as the suitor--TCG Advisory Pvt. Ltd, a part of The Chatterjee Group--for the RFL was not found to be 'fit and proper' by the regulator. from Banking/Finance-Industry-Economic Times https://ift.tt/3duQl...
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NBFCs seek extension of MSME restructuring scheme till March 2022

In a recent letter written to RBI Governor Shaktikanta Das, FIDC, an industry body of NBFCs, said due to the severe second wave of COVID-19, the micro, small and medium enterprises (MSMEs) have not been able to revive their economic activities and are in urgent need of support from the lenders. from Banking/Finance-Industry-Economic Times https://ift.tt/3sr4l...
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HDFC Bank’s third party IT audit in final stages

Q4 credit card advances up 12% despite temporary halt on sourcing from Business Line - Money & Banking https://ift.tt/3ggrP...
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HDFC Bank net up 18% on higher other income

The lender’s total capital adequacy ratio (CAR) as per Basel III guidelines was at 18.8% as on March 31, 2021, up from 18.5% as on March 31, 2020, and as against a regulatory requirement of 11.075%. from Banking & Finance – The Financial Express https://ift.tt/2QBQR...
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