Digital lending norms aim to protect customer interest: RBI’s Rao The Reserve Bank of India’s recent norms on digital lending aim to strike a balance between innovation and inclusion while ensuring that regulatory arbitrage is not exploited to the detriment of customer interest, said Deputy Governor M Rajeshwar Rao. “Another underlying theme of this regulatory framework is ...

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Life insurers’ new business premia up 18% in August despite large base Life insurance companies reported an 18 per cent year-on-year (YoY) growth in new business premia in August, despite a large base, because of healthy growth in premia of private sector insurers. The data put out by the Life Insurance Council shows life insurer’s reported new ...

Appoint new CFO for RattanIndia Finance within 60 days, says NCLAT Appellate tribunal NCLAT on Wednesday set aside an NCLT order and directed to appoint a CFO for non-banking finance company RattanIndia Finance within 60 days. A three-member NCLAT bench said any suggested candidate by the JV partner LSF 10 Rose Investments, under section 140 of the ...

CBDC to bring down time, cost for cross-border transactions: RBI Deputy Guv Central bank digital currency (CBDC), to be launched this year, could become a tool for reducing time and cost for cross-border transactions, Reserve Bank Deputy Governor T Rabi Sankar said on Wednesday. The RBI has proposed to launch on a pilot basis this year, as ...

Rupee declines 13 paise to 79.95 against US dollar on rate hike worries The rupee declined by 13 paise to close at 79.95 against the US currency on Wednesday as growing expectations of aggressive interest rate hikes by the US Fed drove the greenback to multi-year highs against major global currencies. Forex inflows into equities and weak ...

Dematerialisation: Irdai urges industry to open e-insurance accounts The insurance regulator on Wednesday urged the companies to open e-insurance accounts (e-IA) for their customers, which would act as the first step towards dematerialisation of insurance policies. The regulator is also keen on developing Bima Sugam, a digital platform for selling, servicing, and settling claims. e-IAs serve as ...

SBI sells largest AT-1 tranche at lowest rate for any bank so far this year India’s largest lender State Bank of India on Wednesday issued additional tier-1 (AT1) bonds worth a total of Rs 6,872 crore at a cut-off of 7.75 per cent, the lowest rate set for such debt issuances by any bank so far in the current ...

Non-premium credit card spends jump [ad_1] (This story originally appeared in on Sep 07, 2022) MUMBAI: Users of standard credit cards are catching up with premium credit card holders in terms of spends in first six months of 2022. Average ticket size of standard credit card transactions have jumped 67% to Rs 7,290 in January-June this year from Rs 4,368 ...

RBI releases ‘alert list’ of 34 entities barred from forex trades After receiving repeated enquiries on the authorisation status of certain electronic trading platforms for foreign exchange transactions, the Reserve Bank of India has released a list of entities that are not authorised to undertake such trades. The list, which will be referred to as an ‘alert ...