The collections under the government’s small savings scheme for senior citizens more than tripled in April, as those eligible scrambled to take advantage of the […]
Tag: bfsi
Credit card spends in foreign currency to attract 20% TCS
New Delhi: Foreign currency payments such as digital subscriptions to publications or goods bought on foreign ecommerce sites through international credit cards will count toward […]
Irdai forms task force to facilitate ease of doing KYC using Aadhaar
Regulator Irdai has constituted a task force to facilitate ease of doing Know Your Customer (KYC) by insurers using Aadhaar, the 12-digit individual identification number. […]
Vedanta Resources Ltd taps global banks for $500-600 million loan
Anil Agarwal-promoted Vedanta Resources Ltd (VRL) is in discussions with Deutsche Bank and other global lenders including JPMorgan and Barclays to raise a $500-600 million […]
LIC Housing to focus on LAP, intensify its recovery efforts
LIC Housing Finance (LIC HF) will expand its branches in new geographies, increase focus on high-yielding loan against property (LAP) and intensify recovery efforts as […]
Bank of Baroda ‘well protected’ for switch to RBI’s new loan-loss proposal, says CEO Chadha
Bank of Baroda does not foresee any challenges in adhering to the central bank’s proposed loan-loss mechanism given its improved asset quality ratios and will […]
Government tightens rules on global credit card transactions by Indian travellers abroad
n a move that could weigh on personal expenses of wealthy Indians on foreign trips, including for gifts, the government has ended a key relaxation […]
Atul Khirwadkar appointed as first CEO of National Urban Co-operative Finance and Development Corporation (NUCFDC)
A well-known face in the cooperative banking sector Atul Khirwadkar has been appointed as the first Chief Executive Officer of the National Urban Co-operative Finance […]
Russian companies investing rupee surplus in Indian government bonds: IBA chief
Russian banks and companies who have trade surpluses with Indian lenders are using those rupee funds to invest in domestic government debt, the head of […]
Banks flag high overnight rates, liquidity terms
Banks have conveyed their concerns about persistently high overnight rates and liquidity conditions to the Reserve Bank of India (RBI) to ensure a more equitable […]