FinMin allows 22 finance cos to undertake Aadhaar-based client verification The Finance Ministry has allowed 22 financial companies, including Amazon Pay (India) and Hero FinCorp, to undertake Aadhaar-based authentication of clients. The ministry, through a notification, said these 22 companies, which are already reporting entities under the PMLA, will be able to verify the identity of clients and ...

India considering allowing foreign investment in nuclear power industry By Sarita Chaganti Singh India is considering overturning a ban on foreign investment in its nuclear power industry and allowing greater participation by domestic private firms, two government sources told Reuters, as part of a push for cleaner energy.   The measures have been recommended by a government panel, ...

India’s forex reserves rise to a 10-month high of $588.78 billion RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement RBI’s forex reserves rise for fifth straight week to $564.07 billion MPC lowers projection for inflation, raises growth outlook a bit ...

Proposal for 5-day work week for banks: No banking on Saturdays if notified [ad_1] Bank employees may soon work a five-day week i.e., Monday to Friday. The United Forum of Bank Employees and the Indian Banks’ Association (IBA) have made headway in their negotiations, with the association agreeing in principle to a five-day workweek in exchange for longer hours, according ...

Aurionpro Payments gets RBI approval to operate as payment aggregator RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement MPC lowers projection for inflation, raises growth outlook a bit in FY24 RBI Monetary Policy: Repo rate up by 25 bps, FY23 ...

A snapshot of personal loan rates offered by various banks with details SBI personal banking loan book up Rs-5 trn mark, helped by digital push How have the home loan EMIs changed since RBI’s repo rate hike in May 2022? CBI arrests Videocon Group founder Venugopal Dhoot in ICICI loan fraud case Pakistan, IMF fail to reach common ground on ...

India’s financial inclusion journey can be example for other countries: UN India is at the vanguard of the digital revolution and its financial inclusion journey can be an example for other developing countries to look at, senior UN officials and economists have said. Speaking on Thursday at the India Roundtable on Financial Inclusion’, India’s Permanent Representative to the ...

Demand for 5 days of work at banks hits speed bumps, likely to take time A five-day-work week for banks is being planned but there is a lot to consider before any announcement is made. While there is an in-principle agreement between the Indian Banks’ Association (IBA) and public sector banks (PSBs) unions, several other issues will have to be ...

Global finance dominated by few currencies, need to de-risk: RBI DG A handful of currencies currently dominate global finance, and there is a need for de-risking by diversifying the international currency system by adopting liquid currencies, Reserve Bank Deputy Governor T Rabi Sankar said on Thursday. Speaking at the launch of a hackathon event organised as part of ...

RBI updates KYC instructions on wire transfers for banks, institutions The Reserve Bank on Thursday instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary. The central bank has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers and ...