Page 537 - Finance News

Insurers are going digital, but their systems are far from robust

Many companies are using the building blocks in which they have invested to expand their digital offerings instead of taking the bold gambit of installing a new operating system

EPFO net new enrolments sees 56% rise to 1.15 million in October

This compared to 0.73 million (7.39 lakh) in the same month last year

Bank of Baroda concludes three-way amalgamation with Dena, Vijaya banks

All customers will now have access to the bank's digital channels

Public sector banks to raise Rs 25,000 crore in three months: DFS Secretary

Earlier this month, Canara Bank raised Rs 2,000 crore while Punjab National Bank (PNB) raised Rs 3,788.04 crore through qualified institutional placement (QIP)

IDBI Bank raises Rs 1,435 cr from 44 investors via issue of equity shares

IDBI Bank has raised Rs 1,435 crore through an issue of equity shares to 44 qualified institutional investors, according to a regulatory filing

PSBs may find it hard to raise money on asset quality, governance concerns

While the banks have cleaned up books and the space has seen consolidation after the merger exercise, the impact of big-ticket frauds of the past and the bad-loan burden remain an issue

Piramal, Oaktree slug it out as race for debt-laden DHFL intensifies

Lenders to meet today to decide on presentations by firms companies

MPC members dive deep on low rates, excess liquidity and sticky inflation

These issues weren't discussed in such details in policy statement, or in post-policy press conference, even when the members seemingly unanimously voted to keep policy rate unchanged at 4%

Curbs on PMC Bank extended by 3 months, lender gets four revival proposals

The bank had invited EoIs from eligible investors for investment/equity participation for its reconstruction

RBI Central Board meets to take stock of economy amid global challenges

The board reviewed customer education initiatives and resolution of customer complaints

Govt exploring setting up bad bank, all other options: DEA Secretary

Economic Affairs Secretary Tarun Bajaj also said the government has recapitalised public sector banks and continue to pump in capital as per requirements

Bad loans set to rise in H2 of FY21 despite improving outlook: Axis Bank

The lender's asset quality had improved both sequentially and year-on-year in Q2

RBI to conduct third auction of SDLs via open market operations next week

The Reserve Bank of India will conduct the third auction of state developments loans (SDLs) aggregating Rs 10,000 crore under the Open Market Operations (OMO) on December 23.

S&P affirms Union Bank's long, short term rating, revises SACP to 'BB-'

The bank's capital buffers have weakened due to the its merger with Andhra Bank and Corporation Bank earlier this year

DCB Bank, RBL, Federal Bank bosses' terms to come up for renewal

RBI decision will clarify its stand on 15-year cap mentioned in discussion paper

Piramal group plans to merge its financial services business with DHFL

The plan depends on DHFL's committee of creditors (CoC) accepting the offer over its rival Oaktree's.

NPCI adds reloadable wallet feature in RuPay cards for offline transactions

The Covid-19 pandemic has accelerated the adoption of digital payments in India

Lakshmi Vilas Bank will finally delist from bourses on December 18

Move follows a November 25 gazette notification to this effect, issued by Department of Financial Services, Ministry of Finance

Regulatory Sandbox: RBI seeks applications under second cohort

RBI on Wednesday announced the second cohort under the Regulatory Sandbox (RS) with the theme of 'Cross Border Payments' and also reduced net-worth requirement for entities interested in participating

Mrs Bectors IPO off to flying start; subscribed 1.57 times in few hours

The initial public offer was subscribed 1.57 times within the first few hours of opening of bidding