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Big Tech in financial system poses concentration risk: Shaktikanta Das

'Unbridled mushrooming of digital lending apps is a material concern'

Working to implement common KYC for financial transactions: FM Sitharaman

Says developed nations haven't done their bit on climate change

Other nations showing interest in India's payment ecosystem: FM Sitharaman

India leading the way in building an inclusive financial world, she says

Walmart-backed PhonePe asks NPCI to extend the volume cap deadline

With this move, NPCI was aiming to reduce the concentration risk in the system and potentially curb the dominance of two large players while ensuring other players also get a chance to grow

Be ready to meet the credit demand: FM Nirmala Sitharaman to banks

The finance minister said Indian banks have to plan for the Amrit Kaal. And for that, they have to become digitally savvy, especially the public sector ones

Demat of insurance policies: LIC mulls creating its own repository

Dematerialisation of insurance policies is being promoted by the regulator to ensure robust electronic mode of policy solicitation, servicing, and storage

Centre upbeat on Rs 1.5-trillion GST revenue every month from October

GST collections were to the tune of Rs 1.43 trillion in August; in July it was around 1.49 trillion

Players ready for migration as card-on-file tokenisation deadline nears

Tokenisation is the replacement of an actual or clear card number with an alternative code called the "token"

Want our protection segment to be in double digits: Kotak Life MD & CEO

'We believe there is a huge opportunity in the protection and annuity segments', said Balasubramanian

Abrdn to offload 2% in HDFC Life in block trades, put 43 mn shares on block

Price range set at Rs 564.1-578.55 per share; sale could fetch UK-based financial major at least Rs 2,425.6 cr

RBI's policy decisions been in right direction, says Ashima Goyal

Headline retail inflation was at 6.71% in July; it was the first time in four months that the price gauge printed below 7%

Bank credit growth hits near nine-year high of 15.5%, shows RBI data

Achieving 20% growth going forward remains a challenge; deposits for week ended August 26 up 9.5%

Banks jump on the ONDC bandwagon to draw synergy from the network

Nine banks have picked up stake in the Open Network for Digital Commerce (ONDC) network

Life insurers' new business premia up 18% in August despite large base

In FY23, so far, non-life insurers have reported a 19 per cent growth in premia to Rs 1.02 trillion

Dematerialisation: Irdai urges industry to open e-insurance accounts

The regulator is developing "Bima Sugam", a digital platform for selling, servicing, and settling claims.

HDFC Bank hikes MCLR by 10 bps across loan tenures, effective Sep 7

Second rate hike in two months by lender after RBI's rate setting committee hiked benchmark repo rate by 50 bps to 5.4%; new MCLR at 7.90-8.40%

Irdai set to meet insurance CEOs on dematerialisation of policies

This initiative was started by insurance regulator a few years ago, but did not take off as the operational challenges and associated cost for insurers outweighed customer convenience

Digital lending norms: Fintech firms seek clarity on RBI's FLDG stance

An FLDG is a lending model wherein a third-party guarantees to compensate up to a certain percentage of default in a loan portfolio of the regulated entity

HDFC Bank targets nearly Rs 1-trillion deposit mop-up every quarter

In the recent roadshows, the bank's management sounded confident of its ability to deliver both loan growth as well as deposit growth, a report by Macquarie Research said on Monday

Comply with digital lending norms for existing loans by Nov 30: RBI

Guidelines applicable to new and existing customers taking fresh loans