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Latest Articles in Banking Finance

Where Do Indian Investors Stand When It Comes To Financial Literacy?

The survey showed that only 1.67% of the farmers were aware of crop insurance products and only 0.66% about livestock insurance products.

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ED Arrests Chanda Kochhar's Husband In Money Laundering Case

They said Deepak Kochhar was arrested by the agency in Mumbai under sections of the Prevention of Money Laundering Act (PMLA).

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Fintech Cos Need To Focus On Providing Resilient Front-ends For Financial Service Providers: Govt

Financial service providers must not hesitate to actually collaborate with fintech (financial technology) innovators for beefing up cyber security and fraud prevention

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Debt Recast: FIDC Suggests Dropping Additional Provisioning Requirement For NBFCs

In a letter to the finance minister, FIDC also said non-banking financial companies (NBFCs) have been mandated to follow Indian Accounting Standard (IND-AS) norms on provisioning for credit losses and these provisions are much higher than the RBI norms.

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Fall In GDP Alarming; Time For Bureaucracy To Take Meaningful Action: Raghuram Rajan

The eminent economist pointed out that the government's reluctance to do more today seems partly because it wants to conserve resources for a possible future stimulus.

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Fintech Needs To Come Up With Innovative Products To Connect More Users: Jayant Sinha

The former Minister of State for Finance said young people are now using Fintech products, but there is a considerable size of middle-aged people who are still potential customers.

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IndusInd Bank To Raise Rs 2,496 Cr Via Preferential Equity Shares

The Finance Committee of the board of directors at its meeting held on September 2, 2020, approved allotment of 4,76,29,768 equity shares of the face value of Rs 10 each at a price of Rs 524 per share on a preferential basis, for an aggregate consideration of Rs 24,95,79,98,432.

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Yes Bank Sells Asset Management, Mutual Fund Businesses To White Oak Investment

Yes Asset Management is the asset management company of Yes Mutual Fund and Yes Trustee is in turn the trustee of Yes Mutual Fund.

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LIC Housing Plans To Raise Rs 50,500 Crore

The non-convertible debentures (NCDs) proposed to be issued by the company for cash may be either at par or premium or a discount to face value, depending upon the prevailing market conditions at the time of issues

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Indian Bank Cuts One-year MCLR Rate By 5 Basis Points

The bank has decided to reduce the MCLR for one-year tenure by 5 basis points to 7.30 per cent effective from September 3, 2020, Indian Bank said in a regulatory filing.

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Banks Have To Be Prudential And Not Reckless In Lending: SBI MD

The comments come days after RBI Governor Shaktikanta Das had asked banks to be more forthcoming on lending, warning that excessive risk aversion can be self-defeating.

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ICICI Prudential Life Launches AI-powered voice chatbot on Google Assistant

This would enable the Company's policyholders to have their queries addressed by simple voice commands such as "Ok Google, I want to speak to ICICI Prudential Life LiGo" or "May I talk to ICICI Prudential Life LiGo".

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Firms In Hospitality, Aviation, Tourism Sectors Likely To Seek Loan Recast: Bankers

There may not be a rush for restructuring from corporates as only those sectors which are having cash flow problems are likely to go in for loan recast to avoid the tag of 'restructured account', bankers opined.

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Banking 2030 – Getting Prepared For The Digital-Only World

AI equips financial institutions with learning and problem-solving capabilities, modernizes their operations and as a result vastly improves their customer experience.

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