MPC members voice different views on interest rate and stance: RBI minutes The members of the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) voiced different views on the interest rate and stance, with two of them indicating they may not vote for further rate increases even if Governor Shaktikanta Das and Deputy Governor Michael Patra ...

Rising cyberthreats a real concern, say fintech players at BFSI summit Financial institutions are 300 times more vulnerable to cyberattacks than any other industry and the cost of remediating a cyberattack is 40 per cent more than any other industry, said a recent study. It has been time and again proven that one of the main reasons ...

SFBs hope to give large private banks a run for their money: BFSI panelists Heads of small finance banks (SFBs) on Wednesday exuded confidence of strong growth on the back of product diversification, network expansion and lower costs. “When we started five years ago, we thought it would be a marathon but it has turned ...

Max Financial Services promoter offloads 1.7% stake for Rs 400 cr Max Ventures Investment Holdings, a promoter of financial services firm Max Financial Services, on Wednesday offloaded 58.85 lakh shares in the company for Rs 400 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), ...

SIDBI identifies MFIs to provide enhanced support for micro-lending Small Industries Development Bank of India (Sidbi) has now gone back to its earlier avatar when it comes to microfinance institutions (MFIs). According to Sivasubramanian Ramann, chairman and managing director, the bank has started identifying finance companies to give them enhanced support for micro lending. Speaking ...

Less cash society more achievable than a cashless society: BFSI panelists While digital payments have skyrocketed in the last five years, with the pandemic providing a fillip, the aim to be a cashless society is still a far-fetched dream for India. However, being a less-cash society is something that the country can achieve in the ...

Privatisation of PSBs via divestment of wider base of investors: Bankers Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider ...

NBFCs are not dying to become banks: Industry leaders at BS BFSI summit The non-banking financial company (NBFC) sector has been under the scanner since the 2018 Infrastructure Leasing & Financial Services (IL&FS) crisis when the industry lost some of the market share to banks in recent years. But the industry’s chief executives remain confident of the ...

Super senior citizens can earn up to 8.3%| EconomicTimes [ad_1] RBL Bank Senior citizens in the age group of 60 years to less than 80 years can avail additional interest of 0.50% p.a. Super Senior Citizens in the age group of 80 years and above are eligible for a preferential interest rate of 0.75% p.a. for all tenures. As of ...

Revenue ‘sufficient enough’ to fund extra expenditure of Rs 3.26 trillion: Finance Minister Union Finance Minister Nirmala Sitharaman exuded confidence that tax revenue generation in the current fiscal year (FY23) would be sufficient to fund the additional spending of Rs 3.26 trillion, for which her ministry has sought Parliamentary approval. Replying to the debate on ...