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Latest Articles in Banking Finance

HSBC To Axe Senior Managers In Strategy Shift

HSBC has global managers looking after a wide variety of functions for most of the product lines within its business divisions.

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HDFC Life Launches Ad Campaign #BounceBack

'BounceBack' has been used as a theme in the brand's recent campaigns. It further strengthens the brand promise of HDFC Life’s ‘Sar utha ke jiyo!’

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Haptik Develops Virtual Assistant 'Kaya' For Kotak Life

KAYA provides 24X7 assistance and easy instant solutions to consumers thereby enhancing customer experience by resolving queries about premium payment, policy renewals, policy statements, policy information and bonus/fund value.

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LIC Staff Union To Hold Walk-Out Strike To Protest Against IPO

The union said LIC's valuation surplus was Rs 53,211.91 crore, life fund stood at Rs 28.28 lakh crore and asset under management over Rs 31.11 lakh crore at the end of FY19.

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PNB Reports Q3 Net Loss Of Rs 492 Crore As Provisions Mount

Income in Q3 FY20 was up 1.5 per cent at Rs 4,355 crore versus Rs 4,290 crore year-on-year. The bank's asset quality as a percentage of total advances too improved slightly.

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RBI's Rate Setting Panel Starts Meeting Amid Rising Inflation, Slowing GDP

The retail inflation that for several months remained in the comfort zone of the central bank has started inching up and crossed the 7 per cent mark during December 2019, mainly due to spiralling prices of vegetables.

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New Tax Structure Gives Option To Save Tax: Revenue Secy

In the new regime, 5 per cent tax is levied on an annual income between Rs 2.5 lakh and Rs 5 lakh. The tax rate rises to 10 per cent, 15, per cent, 20 per cent and 25 per cent for every Rs 2.5 lakh addition. A 30 per cent tax is charged for income over Rs 15 lakh.

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RBI Governor Das Wins Central Banker Of Year - Asia-Pacific Award

Das also brought in measures to tighten the rules around shadow banking. He has also been credited for being proactive in providing assistance to India's smaller banks.

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NPAs Of PSBs Stands At Rs 7.27 Lakh Crore

Union Minister of State for Finance Anurag Thakur also said in Lok Sabha that scheduled commercial banks and select financial institutions have reported frauds to the tune of Rs 1,13,374 crore in the first half of the current financial year.

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India To Sell Stake In LIC, Sets Steep Divestment Target

The government currently owns 100% stake in LIC that was set up in 1956. LIC controls a majority share in the life insurance market in India.

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Reforms In Banking Sector To Remain Priority: Sitharaman

The Finance Minister said governance reforms will be carried out to make PSBs more competitive, transparent and professional, thereby ensure a robust banking system.

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Deposit Insurance Cover Increased From Rs 1 Lakh To Rs 5 Lakh: Sitharaman

"Insurance cover per depositor is Rs 1 lakh. It has been now revised to Rs 5 lakh," she said in Lok Sabha while presenting the Union Budget 2020-21.

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Govt To Sell Its Holding In IDBI Bank: Sitharaman

It is proposed to sell the government's balance holding in IDBI Bank to private retail and institutional investors through the stock exchanges," Sitharaman said during the presentation of Union Budget 2020-21.

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Nation-Wide Strike Impacts Banking Services At PSU Banks

Branches in several parts of the country remained closed and some of the ATMs also went dry, according to reports coming various parts of the country.

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An Overview Of Fintech Sector’s Expectations From Union Budget 2020-21

The rise of fintech in India can be attributed to various macroeconomic factors, including favourable demographic profile, availability of cheap internet, penetration of smartphones and an enabling regulatory regime.

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