Page 55 - Aathira Varier

State Bank of India, BoB target 1 million user base in retail CBDC

Separately, Balaji Rajagopalan, SBI's Chief Technology Officer, said that the target is to achieve 1,000,000 users by the end of December from the existing 400,000 users

Audit report of 'bob World' is in progress; RBI decision to impact capital

In October, RBI had ordered Bank of Baroda (BoB) to suspend further customer onboarding on its 'bob World' mobile app with immediate effect

L&T Finance inks pact with Asian Development Bank for $125 mn funds

Out of the proceeds 40 percent of it are allocated for women borrowers, while the rest will support farmers, and MSMEs, as well as loans to purchase new two-wheeled vehicles, the release stated

SBI set to increase interest rate after RBI's higher risk weight norms

RBI says growth-driving sector exempted from tighter norms

Product mix, distribution strategies to help regain market share: LIC chief

Mohanty discusses a range of issues from product launches to the digital transformation journey that it has embarked upon

Jio Financial Services seeks RBI approval to convert as CIC from NBFC

According to the central bank, a CIC is a company whose assets are broadly invested in their group companies either in the form of equity, preference shares, convertible bonds or loans

Godrej Capital expects Rs 1,500 cr capital to be infused for 2 years: CEO

Shah said that they are assessing the situation, emphasising that a large part of the company's portfolio is still in the secured segment and is not likely to be significantly impacted

Jio Financial Services eyes Rs 5K-10K crore via maiden bond issue

Market participants said the rate on the bonds might be 15-25 basis points higher than that on Reliance Industries bonds issued earlier this month

High-value insurance policies in the slow lane after tax overhaul

Non-linked products are insurance plans not linked to the stock market, and therefore, their returns are not based on market performance

Recovery rate from personal guarantors may rise: CareEdge Ratings

The Supreme Court upheld the constitutionality of IBC provisions on Personal Guarantors' Insolvency Resolution, dismissing over 200 petitions which challenged its legal validity

Medium & small NBFCs may require debt funding worth Rs 2.2 trn: ICRA

The capital profile of the larger NBFCs has improved after FY 2019 as the growth slowed down

Fedbank Financial IPO to open on Nov 22 at price band of Rs 133 to Rs 140

Fedbank Financial Services provides loans to MSMEs and emerging self-employed individuals

Bajaj Finance temporarily halts issuance of EMI Cards to new customers

The company continues to offer financing to new and existing customers at dealer stores in the normal course of business

Outward remittances under RBI's LRS rose 26% in Q2FY24, shows data

In September 2023, Indians remitted $3.50 billion overseas, compared to $2.67 billion in September 2022

RBI imposes penalty on Axis Bank, Manappuram Finance for violating norms

The central bank imposed a monetary penalty of Rs 42.78 lakh on Manappuram Finance on account of failing to adhere to certain regulations

RBI approves Isha Ambani, others as directors of Jio Financial Services

In July 2023, the company had informed the exchanges about the appointment of the three directors, which was subject to approval from the central bank

Irdai issues exposure draft on EoM for insurers based on RRC suggestions

The exposure draft has upheld and continues to propose a 30 per cent and 35 per cent limit on EoM for general insurers and standalone health insurers, respectively

Microfinance sector lent Rs 3.48 trn in FY23, NBFC-MFI topped: Report

NBFC-MFI and banks comprise 73.90% of total lending by microfinance institutions

National Insurance Company records profit of Rs 424 crore in Q2FY24

In the first quarter of FY24, the loss of the company stood at Rs 379.28 crore

Oriental Insurance hopes to turn profitable by end of FY24: R R Singh

The public sector non-life insurer narrowed its losses to Rs 47.12 crore in the first half of the financial year 2024 from Rs 3,586.93 crore recorded in the same period a year ago