BUSINESS
Small finance banks: Who are the two new applicants?
The on-tap licensing window allows entities to submit applications for license to RBI at any point of time as desired by the applicant.
BUSINESS
Banks, payment ecosystem players gear up for adoption of tokenisation
Banks and payment ecosystem players are gearing up to adopt tokenisation to meet the card-storage deadline by December-end. The tokenisation drive gained pace after the RBI barred merchants and payment aggregators/gateways from storing card data on their servers to prevent fraud and data leakage.
BUSINESS
Motor insurance premiums may rise with mandatory bumper-to-bumper cover, say experts
The Madras high court said bumper-to-bumper insurance will be mandatory for all vehicles sold after September 1 and so must the cover for all occupants in a vehicle.
BUSINESS
Explained | What the government’s EASE 4.0 reforms mean for public sector banks
The EASE 4.0 reforms look at reforming public sector banks with tech-enabled, simplified and collaborative banking
BUSINESS
Technology, talent and governance issues top challenges for urban cooperative banks, say experts
Cooperative banks are hampered by financial and human resource constraints that limit their ability to adopt technology and stay relevant in a rapidly changing environment.
BUSINESS
RBI’s Financial Inclusion Index: Why is it important? Key questions answered
The FI-Index will assess the quality and extent of financial inclusion in India and will be published every July for the previous financial year ended March.
BUSINESS
HDFC Bank to regain lost card market share in next three-four quarters, says top official
HDFC Bank is looking to issue 500,000 cards in next two quarters and to roll-out new strategic alliances, new product launches and re-stage existing products.
BUSINESS
Health continues to drive premium growth for non-life insurers
Health insurance premiums for general insurers increased 43% in July 2021, while other major segments reported single-digit growth -- 9% for motor and 5.1% for crop insurance.
BUSINESS
RBI lifts HDFC Bank digital ban: What does this mean for HDFC Bank?
HDFC Bank on Wednesday said the Reserve Bank of India has lifted the restrictions placed on sourcing of new cards whereas all new launches planned under Digital 2.0 will continue till further review by the regulator.
BUSINESS
Interview | With digital-first focus, we are aiming for double digit growth in FY22: Poonawalla Fincorp MD CA Abhay Bhutada
The company has shifted focus to the consumer and small-business loan segment and discontinued some non-focused products. This financial year, factoring in the third wave, Poonawalla Fincorp expects to see double-digit growth thanks to its huge liquidity, 8,000-plus staff, 300 branches and digital-first approach
BUSINESS
RBI imposes monetary penalty on two co-operative banks
The monetary penalty was imposed over non-compliance of directions issued by the central bank.
BUSINESS
We are on track to reach Rs 10,000 crore AUM by FY24: Ravi Subramanian, Shriram Housing CEO
We saw the lowest levels of cheque-bounce in July in the last 12 months, says Subramanian. The company has set a target of Rs 10,000 crore in the affordable housing segment by FY24, and its overall focus will continue to remain in AP, Telangana, Karnataka and Tamil Nadu, and in Maharashtra, Gujarat and Rajasthan.
BUSINESS
Gold loan NPAs hurt lenders but the pain may not last: Analysts
Major gold loan lenders reported a spike in stress levels in the recent months as COVID second wave impacted the repayment ability of borrowers.
BUSINESS
Tight RBI regulations could hurt digital lending industry, say industry officials
An RBI working group is expected to submit its report on digital lending regulations soon. Will the new rules clip the wings of digital lenders?
