Add-on options can save your vehicle from monsoon damage It is that time of the year when standard, comprehensive car insurance would not be enough to fully protect your vehicle against monsoon-related damages.Excessive rainfall brings along monsoon-related problems like waterlogging, traffic congestions, vehicles breaking down etc and motor vehicles are the biggest victims of the downpour. Depending on the insurance ...

RBI imposes penalty on J&K Bank, Bank of Maharashtra, Axis Bank Reserve Bank of India (Photo: Bloomberg) The Reserve Bank on Friday said it has imposed a penalty of Rs 2.5 crore on Jammu and Kashmir Bank for non-compliance with certain directions, including one related to ‘time-bound implementation and strengthening of SWIFT-related operational controls’. A penalty of Rs ...

Regulator IRDAI approves transfer of HDFC Life shares to HDFC Bank An Indian regulator has approved HDFC Ltd’s move to transfer its near 49% stake in its life insurance unit to HDFC Bank, clearing a key step ahead of their merger. HDFC announced a $40 billion deal last year to merge with the top private lender. As part ...

Moody’s affirms Yes Bank’s ratings, financial performance to remain stable Moody’s Investors Service on Friday said it has affirmed Yes Bank’s ratings on the back of expectation that its financial performance will remain stable over the next 12-18 months. The long-term foreign and local currency bank deposit ratings and foreign currency issuer rating has been affirmed at ‘Ba3’, ...

Inflation is slowing down personal consumption expenditure: RBI paper Inflation is slowing down personal consumption expenditure, which in turn is moderating corporate sales and holding back private investment in capacity creation, said a Reserve Bank paper on Friday. The paper, authored by a team led by RBI Deputy Governor Michael Debabrata Patra, underlined the need for lowering inflation ...

Apple to launch credit card in India, in talks with NPCI for Apple Pay Cupertino-based Apple is gearing up to launch its credit card, dubbed “Apple Card”, in India soon. Apple’s CEO Tim Cook met HDFC Bank CEO and Managing Director Sashidhar Jagdishan during his recent trip to India in April, according to a report in Moneycontrol on Friday. ...

Rate hikes depend on India’s inflation, not Fed, say external MPC members A narrower interest rate differential with the U.S. is unlikely to prompt India’s monetary policy committee (MPC) to raise rates, but a rebound in inflation certainly could, three external members of the MPC said in separate interviews. While internal members of the Reserve Bank of India’s ...

Betting on gold? How to pick between gold ETFs and sovereign gold bonds Investors willing to diversify assets could consider the first tranche of the Sovereign Gold Bond (SGB) Scheme 2023–24 of this fiscal year, which is currently open for subscription and will close today on June 23, 2023. The set issue price for SGB Series I 2023–24 is ...

India and UK regulators close to resolving clearing house impasse By Subhadip Sircar The United Kingdom government has said that Indian clearing houses overseen by the nation’s central bank meet its regulatory requirements, a move that may help resolve the ongoing impasse over allowing overseas regulators oversight over local counterparties.   “The legal framework of India, as ...

EPS higher pension: ‘Unable to submit,’ EPFO members complains on Twitter as deadline nears [ad_1] Many employees and pensioners who are eligible to apply for higher pension from the Employees’ Pension Scheme (EPS) are complaining on Twitter that they are unable to submit their application forms. This is happening when there are less than four days left to submit the ...