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UPI transactions will be free until govt reviews, says NPCI MD & CEO

The NPCI quickly clarified that the circular was only pertaining to PPI-based merchant transactions on UPI and the basic UPI transactions remain completely free

Account-to-account transfers on UPI fully free for customers, vendors: NPCI

Paytm set to gain from interchange fee for merchant payment via wallets on UPI platform

Insurance companies get more autonomy to decide on commission amount

Govt gives nod to Irdai rules on payment of commissions for intermediaries

Assets should ideally be churned within five yrs: Arcil's Pallav Mohapatra

In a Q&A, the MD & CEO of the firm dwells on its business model and the focus on retail assets to drive volume, going forward

Many cases may have to be reopened after SC ruling on borrowers' voice

Bankers said the decision won't deter them from marking an account as fraudulent

Credit card payments on foreign travels likely to attract tax at source

According to the LRS, which was introduced in 2004, all resident individuals, including minors, are allowed to freely remit up to $250,000 per financial year

Life insurers may gain from debt MFs being taxed at marginal rate

Experts say they may now be slightly better placed as customers looking for tax-free returns under Rs 5 lakh investment a year may now choose their guaranteed products

FSIB recommends Siddhartha Mohanty for LIC chairperson's position

Mohanty is already serving as the interim chairperson of LIC

Phasing out? Only 15-20% of ATMs dispense Rs 2,000 currency note

Cash dispensers reconfigure cassette with lower denominations

Indian origin Anand Selva appointed chief operating officer of Citigroup

Heading consumer banking in India in 2011-2014

Rate transmission better in easing cycle than tightening period

Experts said, generally, in an easing cycle banks tend to reduce the interest rates on deposits faster than on loans to protect their margins

High-value life insurance policy sales fail to pick up in Feb-March

This is despite a new tax being introduced from April 1

Outward remittances under RBI's LRS in April-January surpass FY22

The figure in FY22 was the highest ever in any financial year

UBS needs RBI approval to operate Credit Suisse as a bank in India

This is because UBS had surrendered its bank licence about a decade back after the banking regulator denied its request to offer wealth management services

HDFC twins' merger: RBI may take call on relaxations closer to date

HDFC Bank expects merger to be completed by July this year

NCLT okays HDFC, HDFC Bank merger, paving way for creation of finance giant

HDFC Bank awaiting clarity from the RBI on forbearances as merger gets last regulatory approval

Indian banking system is stable, resilient: RBI governor Shaktikanta Das

At a time when India has assumed the presidency of G20, Das said globalisation must produce better outcomes for all, and not just a few

Anup Bagchi to take over as MD & CEO of ICICI Pru Life Insurance in June

Bagchi will replace N S Kannan, the current MD & CEO, who will complete his five-year term, and superannuate from service in June

A year of reforms for insurance sector under Irdai's Debasish Panda

Irdai has also now provided more flexibility and autonomy to the boards of insurers in operational and financial decisions