FinMin asks banks not to use unethical practices to sell insurance policies Concerned over rising incidence of mis-selling, the finance ministry has directed heads of public sector banks to put in place strong mechanisms to avoid unethical practices for selling insurance policies to customers. The Department of Financial Services has received complaints that fraudulent and ...

SBI vs HDFC Bank vs Canara Bank vs ICICI Bank vs PNB: Which bank offers the best interest rate for senior citizens? [ad_1] Many banks have been increasing interest rates since the Reserve Bank of India (RBI) increased repo rates by 0.35% to 6.25% in its December monetary policy meeting. Senior citizens receive higher fixed deposit (FD) interest rates from ...

Digital Rupee: Do you need a bank account to transact RBI e-Rupee? [ad_1] The Reserve Bank of India (RBI) recently launched the pilot programme of India’s very own digital currency — the digital rupee or e-Rupee. A central bank digital currency (CBDC) is a legal tender issued in digital form by the central bank of the country. By now, you ...

What is the current Post office time deposit interest rate? [ad_1] The Post Office time deposit is also known as the National Savings Time Deposit Account offered by India Post. They are very similar to bank fixed deposits and with different tenures. Interest rates for small savings schemes including Post office time deposits are reviewed every three months. Post office ...

Sovereign Gold Bonds: What is the minimum, maximum investment limit in SGB? [ad_1] Sovereign Gold Bond Scheme are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank of India (RBI) on behalf of the government. Who can ...

India, Bangladesh discuss trade settlement in rupee, free trade agreement Union minister of Commerce and Industry Piyush Goyal and his Bangladeshi counterpart Tipu Munshi discussed the settlement of trade in Indian rupees in New Delhi on Thursday. The two countries will also likely develop a free trade agreement (FTA) soon. “A joint feasibility study on ...

Top Indian banks battle for no 1 bond spot as credit demand surges Competition among India’s biggest local-currency bond arrangers has heated up to the most intense in 13 years, as credit growth stronger than in many other major economies spurs more rupee debt offerings. Indian businesses are hungry for credit, despite rising interest rates, ...

NIIF, India’s first state-backed fund, faces questions from government When India launched its first state-backed investment fund in 2015, the project was met with great enthusiasm. Officials hoped to raise billions of dollars to improve the nation’s infrastructure and attract foreign manufacturers, angling for the success of funds started in places like Singapore. But India’s ...

Shriram Finance to grow its retail fixed deposits portfolio by 25% One of the country’s largest non-banking finance company (NBFC) Shriram Finance Ltd plans to grow its fixed deposits from the current Rs 32,000 crore and talks are on to raise long term funds from international markets, said Umesh Revankar, Vice Chairman. According to him, ...

BFSI Summit: India projected to be sixth largest insurance market by 2032 | Irdai member India has a huge untapped population which doesn’t have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said ...