Page 13 - Finance News

Interest rate on small savings schemes retained for Oct-Dec quarter

Public Provident Fund will continue to earn 7.1% interest; National Savings Certificate will fetch 7.7%

Charlie Javice gets 7 yrs in prison for defrauding JPMorgan of $175 million

The 33-year-old Frank founder was convicted of conspiracy, bank fraud, and wire fraud after faking user records to sell her startup to JPMorgan in a $175 million deal

Unclaimed deposits: Heirs must produce succession certificate or probate

For modest balances, banks may accept a legal heirship certificate with indemnity bond

Buying a car post-GST cut? Make sure you do foolproof research first

Compare offers from various dealers on on-road price; strike good deals on the loan and insurance as well

DFS, SC's MCPC hold 40-hour mediation training for DRT, PSU executives

DFS and Supreme Court's MCPC conducted a 40-hour mediation training for DRT presiding officers and PSU bank executives to enhance dispute resolution through consensus

Bima Sugam to launch with 2-3 products and e-KYC module by year-end

The ambitious insurance platform will feature an e-KYC module followed by two or three insurance products available for purchase, starting with health insurance and then life insurance

Customer support and service major issues across fintechs: RBI study

An RBI bulletin study highlights customer support and grievance redressal as key challenges for fintechs, with users citing poor service, app glitches and loan processing issues

Medical negligence: Documentation, expert opinion key to court success

The complaint must be filed in the right forum and within the limitation period

RBI paper says monetary policy transmission to NBFCs remains incomplete

RBI research shows incomplete transmission of policy rates to NBFCs as higher borrowing costs, risk perception and reliance on banks and markets dampen rate adjustments

RBI renews Statement of Commitment to FX Global Code for FX markets

The Reserve Bank of India has renewed its Statement of Commitment to the FX Global Code, reaffirming adherence to principles promoting integrity in foreign exchange markets

GSTAT launch: One forum for state, Centre GST appeals, says FM Sitharaman

Sub heading: 4.8 lakh pending appeals to be heard, says GSTAT Head Mishra

Lenders tilt towards collateral-backed lending: TransUnion report

Shift towards collateral-backed lending signals risk-conscious credit growth

IBC cases piling up largely due to lack of NCLT Benches, DFS tells MCA

With nearly 15,000 cases pending, the shortage of NCLT benches has raised concerns over prolonged insolvency processes, asset erosion, and delayed resolutions under the IBC framework

FACE membership grows fourfold to 275 a year after SRO recognition

The association marked its one year of recognition by the Reserve Bank of India (RBI) last month

RBI considers allowing lenders to lock borrowers' phone after loan default

Adequate safeguards key for customer protection

Fintechs set for change as norms for debt collection practices are updated

Stricter collection protocols mean you can't push credit as in the past (its return leg has to be taken into account); business models may have to be tweaked even as fintech funding heads southwards

Large ships get infrastructure status in boost to maritime industry

Move seen to ease financing woes of India's nascent shipbuilding industry

PFRDA in talks with Sebi to allow pension funds in commodity derivatives

PFRDA chairman S Ramann said discussions with Sebi are underway to allow pension funds to trade in select commodity derivatives, with metals likely to be prioritised

Nabfid must now focus on urban local bodies, says DFS secy M Nagaraju

Addressing NaBFID's infrastructure conclave, Nagaraju said the institution should work on new instruments at scale so that banks can rebalance their portfolios every three to five years

PFRDA proposes NPS exit, withdrawal rule changes; seeks feedback by Oct 17

PFRDA has proposed amendments to NPS exit and withdrawal rules, including redefining exit, higher lump sum limits, revised partial withdrawals and financial assistance options