The government has asked banks to ensure that all new cards and reissues of old cards have the National Common Mobility Card (NCMC) as a […]
Category: BFSI
MSCS (Amendment) Bill to be passed in monsoon Session
The much-touted Multi-State Cooperative Societies (Amendment) Bill, 2022, is likely to be introduced for consideration and passing in the upcoming monsoon session of Parliament starting […]
Bain frontrunner to buy Adani Capital for Rs 1500 crore
Mumbai: Bain Capital is in advanced negotiations to close the acquisition of Gautam Adani’s seven-year-old shadow bank, Adani Capital, edging past Carlyle as the Ahmedabad-based […]
New accounting standard for insurance soon
The government will soon notify a new accounting standard for insurance contracts, which would align Indian norms with international practices and help global investors better […]
DBS launches new IFSC banking unit in GIFT City
DBS Bank Ltd., Singapore’s largest bank, on Monday, expanded its presence in India by inaugurating its new IFSC Banking Unit (IBU) in the Gujarat International […]
IIFL Home Finance raises $50 million loan from US International Development Finance Corp
IIFL Home Finance has raised a $50 million loan from US International Development Finance Corp (DFC) to grow its affordable housing finance portfolio with a […]
India, UAE sign MoUs for promoting local currencies in cross-border trade
The Reserve Bank of India and the Central Bank of UAE (CBUAE) on Saturday signed two Memorandums of Understanding (MoU) to strengthen the use of […]
Brics-promoted bank keen to add members
Gandhinagar: The Brics-promoted New Development Bank (NDB) has started membership expansion to make the bank a global institution, said Leslie Maasdorp, the bank’s vice president […]
Credit Card default surges as retail credit grows
Credit card payment defaults have surged in June 2023 despite the growth of credit card lending, as per a TOI report. Unsecured credit portfolios and […]
SBI hikes lending rate by 5 basis points
State Bank of India (SBI), country’s largest lender, has raised its marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) across […]