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Less-cash society more achievable than cashless: E-payment leaders

''When we talk about cashless society, we are not talking about people in Mumbai. We are talking about people who are in the hinterland''

All entities providing banking service subject to same rules: RBI Dy Guv

Non-bank entities cannot be allowed to undermine the banking system, he says at Business Standard BFSI Insight Summit

Outward remittance under LSR dips 28% to $1.92 bn in Oct, shows RBI data

International travel contributed over $970 million or 50 per cent of $1.92 billion remitted by Indians in October 2022

Irdai advises firms about minimum rate rule for reinsurance treaties

Regulator's instruction is about burning or break-even cost calculated to estimate the expected losses for a policy

HDFC raises home loan rates by 35 bps, effective from December 20

With this rate hike, HDFC has now passed on the entire rate hike done by the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to the borrowers

Digital lenders seek cap on default loss guarantee models from RBI

They suggested that the central bank could look at a reasonable cap to the FLDG models, given RBI's concerns of around build-up of systemic risk and 100% risk transfer rather than banning it outright

Bank credit grows 17.5% in a fortnight; deposits up 10%: RBI data

Country's largest lender State Bank of India (SBI) raised deposit rates by 15-100bps, the maximum increase being for bulk deposits

Fintech firms Razorpay, Cashfree can't onboard new merchants for now

Razorpay said it was a temporary move and will not have any impact on its existing business operations and current merchants

Slippages from restructured NBFC book increased in H1FY23, says Icra

Write-offs remained elevated at 2.1 per cent for NBFCs and 0.5 per cent for HFCs in H1FY23

Health premiums on the mend: Non-life insurance in double digits

Group health plans drive the 29% growth in health premiums during the first eight months of FY23

RBI advises fintechs to focus on governance, data protection issues

Das advised fintechs to pay close attention to governance, business conduct, data protection, customer centricity, regulatory compliance and risk mitigation frameworks

IL&FS resolves Rs 56,943 cr debt as of Sept, addresses 93% of target

Infra lending firm's affidavit says it has reduced the number of entities under it from 302 to 101

In a first: Bajaj Allianz set to launch surety bonds on December 19

SBI General Insurance and Tata AIG General Insurance are also said to be looking at launching a surety insurance product soon, said sources

Digital lending apps: RBI received 13,000 complaints against banks, NBFCs

The grievances, filed under RBI's integrated ombudsman scheme of 2021 between April 2021 and Nov 2022, also cite harassment by recovery agents

Banks need to scale up investments in technology, says RBI's MK Jain

Financial institutions must build capacities in analytics and HR, says central bank deputy governor

New business premium of life insurance companies rises 30% in November

Private insurers' APE growth rebounds after lagging behind for three months

Wide gap between bank credit and deposit growth seen declining

Lower GDP growth, RBI rate hikes, reversal of base effect to blunt credit growth, analysts say

UPI to now allow blocking money for multiple debits, paves way for ASBA

The RBI said the Bharat Bill Payment System (BBPS) will now include a wider variety of recurring and non-recurring payments

Exploring tech, legal provisions to keep e-Rupee transactions 'anonymous'

It will weigh its options as things evolve but will ensure the anonymity of transactions up to a certain limit, which is a basic feature of cash transactions

RBI introduces single-block-and-multiple debits functionality in UPI

Feature will make payments easier for e-commerce and investments in securities