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 […]
Tag: bfsi
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 […]
France gets India’s UPI, tourists can make payments in Rupees: PM Modi
India’s Unified Payments Interface (UPI) payment system will soon be available in France. Prime Minister Narendra Modi announced this on Thursday. PM Modi said that […]
HDFC Bank onboards 1 lakh customers and 1.7 lakh merchants on CBDC platform
Private lender HDFC Bank on Thursday said it has onboarded over 1 lakh customers and 1.7 lakh merchants under the Central Bank digital currency (CBDC) […]
Reward points and freebies push credit card spends to record levels
Credit card usage has surged to a record, but what is driving it is not consumption, but the reward points and freebies associated with card […]