Page 4 - Financial Sector

PNB Housing Finance offer limited period fixed deposit rates for 23 months

These interest rates are applicable on all new and renewed fixed deposits booked until March 31, 2024, with a minimum deposit amount of Rs 10,000

Shah Rukh Khan vs Sunny Deol in the battle for India's cement demand

Celebrities become the face of an industry evolving with rising demand and changing consumer patterns

A grand conspiracy or a massive scam?

The Union government has withheld MNREGS and PMAY funds -two centrally sponsored schemes - because of procedural lapses, alleged corruption

Sebi bats for higher flexibility in mutual funds, direct equity nominations

Proposes to give greater control to investors in terms of changes, additional inputs

RBI asks REs to review internal compliance tracking, monitoring processes

An appropriate monitoring mechanism may also be put in place to review the progress of its implementation, the RBI said

AU SFB appoints former RBI deputy guv HR Khan as non-executive chairman

The lender added that Khan's tenure will begin from the date of taking charge, January 30, 2024, after approval from the Board of Directors and from the RBI and shareholders of the bank

75% banks, NBFCs have chatbots, e-assistants: RBI's Michael Patra

Patra said that ensuring robust cybersecurity measures in banking organizations is imperative to maintain public trust in the financial system

Bajaj Finance Q3 results: Consolidated net profit up 22% at Rs 3,639 cr

The net interest margin continues to soften gradually on account of the lagged effect of the cost of funds increase, in Q3 FY24, BFL said in a statement

CMS Info Systems eyes buys in fintech, financial inclusion spaces

While scanning for inorganic growth opportunities, the company is also incubating some businesses like collections and logistics services for bullion

Funding winter shows signs of thaw but fintech industry is under scrutiny

The industry faces greater scrutiny and stricter governance norms

Health check for healers: The big audit firms are under the NFRA lens

Now, the national accounting watch­dog has turned the spotlight on audit firms themselves. These firms are perceived to be the eyes and ears of non-promoter investors

Future strategy is all about sustaining this growth: L&T Finance CEO

As far as retail growth is concerned, you would see the target was 25% growth, and we have consistently achieved more than 30% growth, he said

Financial sector set to see churn in 2024 with major leadership changes

Shaktikanta Das, governor of RBI and the chair of the Monetary Policy Committee (MPC), will complete his six-year term in December 2024. Das, who was first appointed in December 2018 for three years

Total amount of frauds reported by banks declines to six-year low: RBI

However, the number of frauds that were reported by banks have gone up from 7,263 frauds in 2020-21 to 13,576 in 2022-23

Uttar Pradesh govt invites bids for 100-acre fintech park in Noida

The fintech park, to be developed in Noida Sector 13, will encompass infrastructure amenable for the growth of financial services companies across the financial and allied value chain

RBI issues advisory to banks, financial cos to curb evergreening via AIFs

According to the RBI advisory, banks, NBFCs, and other financial institutions like Nabard and Sidbi will not be able to make investments in any scheme of AIFs which has downstream investments

Financial sector stocks, new listings take centerstage in November for MFs

The equity market witnessed a sharp rally last month. The benchmark Nifty50 rose by 5.5 per cent, the most since July 2022

Mumbai tops metros in reporting economic offences in 2022: NCRB data

India's financial capital Mumbai recorded 6,960 cases of economic offences in 2022, the highest in any metro city, according to the latest data released by the National Crime Records Bureau (NCRB). Cases of cyber crime also jumped in Mumbai to 4,724 last year from 2,883 in 2021, showed the data compiled by the NCRB, which is part of the Union home ministry. Hyderabad, with 6,015 cases of economic offences last year, was ranked second followed by Delhi (5007) on the third spot, as per the report. Among the total economic offences registered in Mumbai, 1,093 were of criminal breach of trust, whereas forgery, cheating and fraud cases stood at 5,855, it said. As per an analysis of the loss of property in metropolitan cities in 2022 due to criminal breach of trust, at least 18 cases were of amounts between Rs 10 crore and Rs 15 crore, 7 between Rs 25 crore and Rs 50 crore, 6 between Rs 50 crore and Rs 100 crore and one was above Rs 100 crore. In terms of registration of cyber crimes, .

Financial institutions told to strengthen fraud management system

The FIs consist of central banks, retail and commercial banks, internet banks, credit unions, savings and loan associations

High staff churn in India's financial sector to persist in FY24: TeamLease

"The demand for salespeople (selling personal, home, agriculture and other loans) is huge," said CEO for staffing at TeamLease