Banking
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Govt will Receive 30% More Dividend From Public Sector Banks in FY24
Public sector banks (PSBs) are poised to deliver approximately 30% higher dividends to the government in FY24 compared to the previous fiscal year. The total dividends from PSBs are estimated at ₹18,013 crore for FY24, a significant uptick from ₹13,804...
Last updated on May 20th, 2024 05:22 pm -
Bank of Maharashtra Tops Among PSU Banks in Business Growth in FY24
Bank of Maharashtra has emerged as a top performer among public sector banks, showcasing impressive growth in total business and deposit mobilization. With a 15.94% rise in total business and a 15.66% increase in deposits, it outshines competitors like State...
Last updated on May 20th, 2024 04:41 pm -
SBI General Unveils ‘Surety Bond Bima’ for Infrastructure Projects
SBI General Insurance, the non-life insurance arm of State Bank of India (SBI), has launched 'Surety Bond Bima' to support infrastructure development by providing a security arrangement for infrastructure projects. Purpose and Function This product, developed in line with the...
Last updated on May 20th, 2024 09:58 am -
LIC Granted 3-Year Extension by Sebi to Achieve 10% Public Shareholding
In a move aimed at granting additional time to Life Insurance Corporation (LIC) of India to meet regulatory requirements, the Securities and Exchange Board of India (Sebi) has extended LIC's deadline to achieve a minimum 10% public shareholding. LIC, a...
Last updated on May 16th, 2024 10:52 am -
RBI Approves Quant MF to Raise Stake in RBL Bank
The Reserve Bank of India (RBI) has granted approval to Quant Mutual Fund (MF) to increase its stake in RBL Bank to 9.98% by May 12, 2025. This approval, subject to conditions and provisions under the Banking Regulation Act, 1949,...
Last updated on May 15th, 2024 12:52 pm -
Enhancing Global Commerce Opportunities: YES BANK and EBANX Partnership
YES BANK, a leading private sector bank in India, is collaborating with EBANX, a global fintech firm specializing in payment solutions for emerging markets. Together, they aim to provide a comprehensive range of scalable payment solutions to merchants, facilitating seamless...
Last updated on May 10th, 2024 01:42 pm -
RBI Lifts Restrictions on Bank of Baroda’s ‘BoB World’ Mobile App
The Reserve Bank of India (RBI) has announced the lifting of restrictions on Bank of Baroda's BoB World mobile application, permitting the bank to onboard customers immediately. This decision follows the RBI's directive in October 2023 to suspend customer onboarding...
Last updated on May 9th, 2024 02:39 pm -
RBI Revises Guidelines for Banks’ Capital Market Exposure in T+1 Settlement
In response to the introduction of the T+1 settlement regime for stocks, the Reserve Bank of India (RBI) has updated the guidelines for custodian banks regarding the issuance of Irrevocable Payment Commitments (IPCs). Under these revised guidelines, custodian banks issuing...
Last updated on May 7th, 2024 02:26 pm -
Ujjivan Small Finance Bank Names Sanjeev Nautiyal as MD & CEO
Ujjivan Small Finance Bank has announced the appointment of Sanjeev Nautiyal as its Managing Director and Chief Executive Officer (MD & CEO) for a tenure of three years, effective from July 1, 2024. The Reserve Bank of India (RBI) has...
Last updated on May 7th, 2024 01:50 pm -
HDFC Life Introduces No Jhanjhat Life Insurance Fatafat Campaign: Revolutionizing Insurance Purchase Experience
HDFC Life launches the No Jhanjhat Life Insurance Fatafat campaign, aimed at simplifying and expediting life insurance purchases through its online platform. The campaign underscores the importance of addressing India's low insurance penetration and vast protection gap. Seamless Online Experience Bid...
Last updated on May 4th, 2024 12:32 pm