RBI shortlists 7 global consultancy firms to use AI, ML to improve regulatory supervision

​​The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision over banks and NBFCs. For this purpose, the central bank plans to hire external experts.

from Banking/Finance-Industry-Economic Times https://ift.tt/0hyxiBe

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Borrowers don't have to be told individually about change in rates: Consumer court

The national consumer court has ruled that banks are not required to inform each borrower individually about any automatic change in interest rates under the floating rate plan, as borrowers have already agreed to any such increase or decrease while executing loan agreements with lenders.

from Banking/Finance-Industry-Economic Times https://ift.tt/Qfz6i8P

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RBI to address doubts over anonymity of e-Re

Circular and/or discussion paper on the matter is expected in a few weeks 

from The HinduBusinessLine - Money & Banking https://ift.tt/7sdnph2

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Will look to strengthen banca partnerships with PSBs’, says ICICI Lombard chief Bhargav Dasgupta

Recent overarching regulatory architecture change a big opportunity to expand partnerships, says ICICI Lombard General Insurance MD & CEO

from The HinduBusinessLine - Money & Banking https://ift.tt/mlKPWfU

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Five of top-10 firms lose Rs 1.67 lakh crore in m-cap; RIL biggest drag

While Reliance Industries, TCS, Infosys, Bharti Airtel and ICICI Bank were the laggards from the top-10 pack, Hindustan Unilever, HDFC Bank, Adani Enterprises, SBI and HDFC emerged as the gainers.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/b1vlZF6

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