BUSINESS
Budget proposes to raise Lakhpati Didi scheme target to 3 crore
83 lakh Self-Help Groups are transforming the rural landscape; says FM Sitharaman
BUSINESS
Direct benefit transfer helps govt save Rs 2.7 lakh crore, FM says in budget speech
India's DBT implementation has won praise from the IMF and the World Bank
BUSINESS
Insurance Sector Budget: What’s in store for the sector? Here’s what experts say
The insurance sector is hoping for tax relief from the Union budget 2024, that will enable insurers to give customers pricing advantages, besides a provision to introduce fresh schemes to offer customers more options to safeguard against escalating health costs in India.
BUSINESS
Union Budget 2024: Rural, digital infra to be more in focus, say banking experts
In a panel discussion of Moneycontrol, experts from the banking industry gave their opinions on how the upcoming interim budget could shape up.
BUSINESS
MC Budget Panel | Banks to continue to face pressure on NIMs, experts say
On Moneycontrol’s pre-budget panel discussion held on January 30, bankers and industry experts felt the growing dependence on the digital platform had made it necessary for banks to invest more on cyber security.
BUSINESS
Govt reshuffles top executives at IOB, BoB
BoB's Joydeep Dutta Roy has been appointed as executive director of IOB.
BUSINESS
Canara Bank doesn't plan to have additional exposure to airline companies: CEO
Canara Bank Q3 results: Also, the bank has decided to focus on the retail, agriculture, and MSME sectors, which should comprise 40-60% of its corporate loan portfolio, said MD and CEO K Satyanarayana Raju.
BUSINESS
SBI warns staff against enrolling customers in insurance schemes without consent
The bank told its employees it had found unauthorised debits in customer accounts.
BUSINESS
Exclusive: Karnataka Bank expects total recovery of Rs 2,500 crore in FY24-25, says CEO
Srikrishnan Sarma said that the bank recovered over Rs 200 crore in the third quarter
BUSINESS
Indel Money in talks with two banks for co-lending, sets Rs 700 cr target
Co-lending or co-origination is a set-up, under which banks and non-banks enter into an arrangement for the joint contribution of credit for priority sector lending.
BUSINESS
Entire Rs 9,000 cr erroneously transferred to Tamilnad Mercantile Bank account recovered: MD & CEO
On September 9, 2023, a Tamil Nadu taxi driver's account with the Tamilnad Mercantile Bank was mistakenly credited with the huge sum, the latest in a spate of tech glitches that drew regulators’ attention.
BUSINESS
South Indian Bank to focus more on MSME, retail businesses this year, says MD & CEO P R Seshadri
SIB will soon open a branch in Ayodhya to tap the huge business opportunities there, Seshadri said.
BUSINESS
HDFC Bank, Axis Bank to be closed on Jan 22 on account of Ram Mandir inauguration
The Finance Ministry in its order on January 18, had said that public sector banks, insurance companies, financial institutions, and regional rural banks (RRBs) across the country will remain closed for half a day
BUSINESS
More banks rush to Ayodhya eyeing business opportunities
On January 11, 2024, Moneycontrol had reported that at least two state-run banks are now looking to expand their physical presence near the Ram Janmabhoomi in Ayodhya and open ATMs or branches.
BUSINESS
Fintech SROs to promote responsible innovation, protect consumer interest, says fintech industry
The Reserve Bank of India on January 15 in its draft norms said Self-Regulatory Organisations for the fintech sector should be independent from influence, development-oriented, and legitimate arbiters of disputes.
BUSINESS
Federal Bank open to external names for CEO position; says Shyam Srinivasan
On January 5, the Reserve Bank of India (RBI) asked the private sector lender to submit a fresh proposal containing at least two names for the position of Managing director and Chief Executive Officer.
BUSINESS
Exclusive: After SBI and Indian Bank, BOB cracks down on misselling of insurance, mutual fund products
The bank has asked its zonal heads to not conduct any further campaigns in view of complaints about mis-selling.
BUSINESS
Budget 2024: Insurance sector seeks tax rebates, benefits for inclusivity
Budget 2024: The insurance sector is also hoping for forward-thinking steps towards inclusivity, making insurance accessible to people with no access to insurance, with a particular focus on supporting the LGBTQIA+ community.
BUSINESS
Eyeing business opportunities, banks look to expand in Ayodhya
Ram Mandir inauguration: The historic consecration ceremony of the Ayodhya temple is scheduled for January 22, and Prime Minister Narendra Modi, Uttar Pradesh Chief Minister Yogi Adityanath, and more than 6,000 people are expected to attend it.
BUSINESS
Indian Bank bars staff from conclaves, seminars, and felicitations till Mar 31
Earlier on January 2, largest public sector lender State Bank of India (SBI) too came up with the similar circular
BUSINESS
Union Bank to credit staff benefit claims to CBDC wallets, instead of salary accounts
As part of promoting CBDC Wallet transactions, banks have been advised to encourage all staff members to transact using the digital currency and ensure 100 percent staff registrations on the digital rupee app.
BUSINESS
Union Budget 2024: Bank privatisation plan unlikely before general elections, say experts
Finance Minister Nirmala Sitharaman on December 7 said that the Union Budget on February 1 is unlikely to have any spectacular announcements.
BUSINESS
SBI bars staff from conclaves, seminars, felicitations till Mar 31
Any deviation in this circular regard will require prior approval of the undersigned; said SBI circular.
BUSINESS
Lending rates to go up, deposit rates to remain stable in 2024, say experts
A quality asset base and good performance by corporate and retail portfolios are expected to help the banking sector during 2024.
