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Big Tech in financial system poses concentration risk: Shaktikanta Das The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. “…enormous amounts of consumer data is being generated ...

Yes Bank to sell stressed assets worth Rs 48k cr to JC Flowers ARC Yes Bank on Tuesday said its board has approved the sale of stressed assets worth around Rs 48,000 crore to JC Flowers ARC, which has turned out to be the sole bidder for the portfolio. The US-based asset reconstruction company (ARC) ...

India’s fintech market to reach $1 trillion by 2030: Chief Economic Advisor India’s fintech market is expected to reach $1 trillion by 2030, from $31 billion in 2021, Chief Economic Advisor Dr V. Anantha Nageswaran said here on Tuesday. Speaking at the ‘Global Fintech Fest 2022’ (GFF 2022), he noted that a major shift towards ...

Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC Private lender Yes Bank said on Tuesday that its board has approved the sale of stressed loans worth Rs 48,000 crore to JC Flowers Asset Reconstruction after receiving no bids to challenge that made by the private equity company. Consequently, Yes ...

RBI approves appointment of R Gandhi as non-executive chairman of Yes Bank The Reserve Bank has approved the appointment of its former deputy governor R Gandhi as non-executive part time chairman of Yes Bank for three years, a regulatory filing said. Gandhi’s appointment comes into effect from September 20, 2022. Yes Bank, in its regulatory filing ...

Axis Bank FD Interest Rates: Axis Bank revises FD interest rates: Check latest rates [ad_1] Axis Bank has revised its interest rates for fixed deposits under Rs 2 crore, effective from September 20, 2022. The bank offers fixed deposit interest rates that vary from 2.75% to 5.75% for regular citizens. While the rate for senior persons ranges from 2.75 to ...

Banks alert customers about mobile banking malware targeting over 200 apps Several Indian banks have alerted their customers not to download apps from any source other than official app stores. Banking customers are being targeted by a new type of mobile banking malware campaign using SOVA Android Trojan. This malware captures the credentials when users log onto their net-banking apps ...

Will debit, credit card e-mandates get affected after tokenisation? [ad_1] The Reserve Bank of India (RBI) had extended the deadline for tokenisation of debit and credit cards to September 30, 2022. As per the RBI mandate, from October 1, 2022, full card number, CVV and expiry date and any other sensitive information related to cards cannot be stored by merchants ...

The big plastic bonanza: Credit cards business is booming like never before The Indian middle class appears to be on a spending binge. Credit card spends topped Rs 1.16 trillion in July, a 6.5 per cent growth month-on-month and 54 per cent year-on-year. Spends have stood at Rs 1 trillion for five running months now. Fresh card issuances were ...

ICICI Bank credit card users will have to pay 1% fee on this common payment soon [ad_1] Do you pay rent via ICICI credit card? Soon, the bank will charge 1 per cent as a fee for paying rent via credit cards. “Dear Customer, starting 20-Oct-22, all transactions on your ICICI Bank Credit Card towards rent payment will be charged ...