ICICI Bank receives RBI’s approval for making staffing solutions firm i-Process its subsidiary

The total outgo for the acquisition is estimated at Rs. 15.40 crore, subject to finalisation of pricing

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Bank of Baroda launches 6,000 UPI ATMs

Customers can now withdraw cash from any of Bank of Baroda's 6,000 UPI ATMs in the country without using a debit card by simply scanning a QR code on the ATM's display screen.

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AU Small Finance Bank and Bajaj Allianz Life Insurance enter into strategic partnership

Customers of AU SFB can now choose from Bajaj Allianz Life’s products including term, savings, retirement and investment products

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BoB enables QR-based cash withdrawal in its 6,000 plus UPI ATMs

The Bank said it is the first public sector bank to launch UPI ATMs, in coordination with NPCI and powered by NCR Corporation

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RBI approves Dipak Gupta as Kotak Bank interim MD for 2 months

The approved tenure is shorter than the proposed appointment schedule of four months till December 31, 2023, when Gupta is set to retire

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G20 document by World Bank lauds India's progress under PM Modi

The World Bank has lauded India's progress under Prime Minister Narendra Modi's leadership ahead of the G20 Summit being held in New Delhi. A document prepared by the World Bank for G20, has highlighted the pivotal role of DPIs (Digital Public Infrastructure) in India over the past decade under Modi government.

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SEBI disposes of adjudication proceedings against LIC

It was further observed that LIC acquired majority stake of 51 per cent in IDBI Bank on January 21, 2019, by way of preferential allotment of equity shares

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Mahavir Lunawat elected as Chairman of AIBI

The Chairperson of AIBI represents Investment Bankers on the Primary Market Advisory Committee of SEBI and has been active in representing the members’ views, comments, and suggestions on various regulatory reforms pertaining to the capital markets

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SBI launches RuPay NCMC Prepaid Card

SBI said it is also implementing an NCMC-based ticketing solution in MMRC Metro Line 3 and Agra Metro

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AU Small Finance Bank aims to reach 10 lakh cards-in-force by year-end: MD

The bank has around 6 lakh cards-in-force, with an activation rate of over 90 per cent

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Blanket bans on crypto can be technically demanding to enforce, warns IMF and FSB report

The report noted that blanket bans also tend to increase the incentives for circumvention due to the inherent borderless nature of crypto-assets

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At an all-time low, rupee falls 9 paise to 83.22 per dollar

Market players say the central bank may have intervened in the market via dollar sales to limit further depreciation of the Rupee.

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Build-up of excessive leverage consequence of excessive expansion of credit: RBI Deputy Governor

Bank credit has shown a robust growth of 19.39 per cent year-on-year

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RBI may extend I-CRR prescription on deposits for a few weeks

Banks asked to maintain 10% incremental cash reserve ratio on deposits

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Stock markets extend gains for fifth day; Sensex revisits 66,000

Equity benchmark Sensex climbed over 385 points to reclaim the 66,000 mark on Thursday, propelled by robust buying in index majors HDFC Bank, L&T and SBI amid a weak trend in global equities. A decline in crude oil prices in the international market also supported the domestic equities, traders said.

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Karnataka Bank to focus on collaborations with fintechs: MD

The distribution of products such as digital credit cards, UPI on credit, insurance and investments, personal finance, etc., is another key focus for the bank, says MD

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Working with health insurers for 100% cashless medical claims: IRDAI Chairman

‘IRDAI is also working closely with the National Health Authority to onboard more hospitals’

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G20 Leadership Summit to open roadmap for crypto regulations

A joint synthesis paper, prepared by the IMF and Financial Stability Board on crypto regulation, has been circulated among member nations

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Customer-centricity, governance, self-regulation critical for fintech ecosystem: RBI chief

RBI following calibrated strategy to implement central bank digital currency

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Markets log 4th day of rally on buying in HDFC Bank

Equity benchmark indices ended in the positive territory on Wednesday on buying in HDFC Bank and a largely firm trend in Asian markets. Fag-end buying helped the BSE Sensex climb 100.26 points or 0.15 per cent to settle at 65,880.52. During the day, it had declined 292.23 points or 0.44 per cent to 65,488.03.

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Getting a home loan? Stamp duty, registry charges may get covered if this proposal by banks is approved by RBI

In a Rs 1 crore project with Rs 20 lakh in stamp duty and registration charges, borrowers could be eligible for Rs 75 lakh loans.

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SBI Card for MSMEs launched

‘SimplySAVE Merchant SBI Card’ offers MSMEs interest-free short-term credit

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Buy Now Pay Later: Soon, instant EMIs on UPI via banks

While fintechs and non-banking financial companies (NBFCs) have traditionally dominated the BNPL sector, this presents an opportunity for banks to enter the arena.

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Ensure nomination to tackle unclaimed deposits: Nirmala Sitharaman

Nirmala Sitharaman has called on banks and capital market institutions to ensure that all accounts have a designated nominee to address concerns over rising unclaimed deposits and investments due to death. Sitharaman also urged fintech companies to lead in the cross-border payments system, given India's market size.

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RBI Governor vows commitment to 4% inflation target amid food price shocks

As guardian of price stability, central bank promises to continue with swift and resolute actions

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Zoho becomes the first bootstrapped SaaS business to surpass 100 million users

The last 50 million users added within the past five years.

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BharatPe’s chief business officer Nishant Jain quits

This exit comes at time when a series of exits of top executives from the Gurugram-based company

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PNB Housing to raise affordable housing loan disbursements

Plans to re-enter construction finance lending

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RBI committed to bring down inflation to 4%; watchful of price risks: Governor Das

Reserve Bank Governor Shaktikanta Das on Tuesday said the central bank has a steadfast commitment to reducing inflation to a target of 4 per cent. Additionally, it will maintain a vigilant stance in monitoring potential risks, particularly as frequent global supply disruptions can significantly impact price management.

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RBI plans to introduce CBDC in call money market

Will showcase various digital products during G20 meetings

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Working on global framework to manage crypto-related issues: FM

‘Cyptos cannot be regulated without global co-operation to evaluate the risks and benefits’

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FM Nirmala Sitharaman asks financial entities to ensure customers nominate heirs

Finance Minister Nirmala Sitharaman noted that tax havens and round-tripping of money are a threat to responsible financial ecosystem

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Nifty could gain 1,000 points in September; 20,432 on the cards: JM Financial

The brokerage identifies Punjab National Bank (PNB), Hindalco, LTI Mindtree, GAIL, and ONGC as the ‘thrust’ stocks.

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SBI Card adds new features to AURUM super premium credit card

New features introduced to bring more luxurious experience to cardholders

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NABARD needs forward-looking recruitment policy, says employees association

Shortage of hands after bulk recruitees from 1984 retired en masse, says AINBEA General Secretary

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Sundaram Home to expand into affordable home lending space

It plans to open about 10 branches in Tier 2 & 3 towns in Tamil Nadu and Andhra Pradesh and to hire 50-75 people exclusively for the affordable housing segment in the first phase

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Mkts climb in early trade on firm global trends, encouraging domestic macroeconomic data

The BSE benchmark Sensex climbed 243.69 points to 65,630.85 in early trade. The Nifty went up by 91.5 points to 19,526.80. From the Sensex pack, Tata Steel, JSW Steel, UltraTech Cement, Larsen & Toubro, Maruti, HCL Technologies, Wipro and Tech Mahindra were the major gainers. ICICI Bank, Nestle, Asian Paints and Power Grid were among the laggards.

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Banks see record surge in vehicle loans

Driven by discounts and special offers, expect more traction in ensuing festive season

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Whole-time directors seen to succeed Kotak at bank

Kotak Mahindra Bank's two whole-time directors, K V S Manian and Shanti Ekambaram, are seen as key internal contenders to succeed Uday Kotak. The former second-in-command, Dipak Gupta, who has taken charge as interim CEO, is ineligible for a director position because of RBI's cap on tenure for board positions.

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Home loan push: SBI betting big on customers with lower credit score and new to credit

The country’s largest bank is offering home loan and top-up loan customers with lower credit score (151-200) and those new to credit or with no credit score concession of 65 bps and 45 bps, respectively, over the card rate

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