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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 ...

ADB to explore risk-factored approach for lending to developing nations: FM Finance minister Nirmala Sitharaman on Thursday said India encourages ADB to explore adopting innovative, risk-factored approach for lending to the developing member countries (DMCs). During her intervention in the Governors Plenary meeting of Asian Development Bank (ADB), she expressed India’s support to remove the charter lending limit ...

EPS pension: Higher EPS pension: Labour ministry clarifies how it will compute pension on higher wages [ad_1] The labour ministry, on Wednesday, clarified that it would draw 1.16 % additional contribution from within the overall 12% of the contribution of the employers into the provident fund while computing the pension on higher wages, thus complying with the Supreme Court directive ...

Premature redemption of SGB: Check premature redemption price for Series I of Sovereign Gold Bonds 2018-19 [ad_1] The premature redemption of the Sovereign Gold Bond (SGB) Scheme Series I of SGB 2018-19), falls on May 04, 2023. The Reserve Bank of India allows premature redemption of Gold Bond after the fifth year from the date of issue of such Gold ...

IndusInd Bank likely to get added to MSCI during Aug rebalancing exercise Decoded: What is index rebalancing, and how does it impact stocks? MSCI India index rebalancing could stoke Rs 13,000-crore churn Stocks to Watch Today: Airline, Tata Steel, PSB, Airtel, Sugar, Max Health Stocks to Watch: Titan, Tata Chem, Adani Group, RIL, Petronet, Apollo Micro Is it time to ...

India’s green financing requirement estimated at 2.5% of GDP: RBI Study India’s green financing requirement is estimated to be at least 2.5 per cent of GDP annually till 2030, a Reserve Bank report said on Wednesday. The country aims to achieve net zero emissions target by 2070. The Reserve Bank of India’s report on Currency and Finance ...

Irdai proposes guidelines for remuneration of core team of private insurers Insurance sector regulator Irdai on Wednesday proposed a revised guidelines for remuneration for non-executive directors and persons in key managerial positions of private insurers to ensure alignment of compensation with prudent risk management. In an exposure draft, the Insurance Regulatory and Development Authority of India (Irdai) said ...