Overall, the digital payments in the country have witnessed a growth (CAGR) of 61 per cent and 19 per cent in terms of volume and value, respectively over the past five years, demonstrating a steep shift towards digital payments. "Cash still rules but is increasingly seen as a way to store value as an economic asset rather than to make payments," it said.
The RBI was responding to a PIL seeking the HC's direction to the central bank to direct banks to take action against their employees for joining union-led strikes as it caused great financial damage to the nation and adversely affected consumers.
Some bankers have wanted the age limit to be raised to 75 years to bring RBI rules on par with the new Companies Act, but the RBI hasn't relented.
HDFC Banking & PSU Debt Fund “the Scheme” , with an AUM of Rs. 4,895 Cr as of 31st January 2020 focuses on generating income/capital appreciation by investi...
The company provides communication services to more than 30 public and private banks in India.
Punita Sinha, wife of former aviation minister Jayant Sinha, will be the chief investment officer of InCred, which is looking to expand to a full-service financial services company from retail and MSME focused NBFC, multiple sources with knowledge of the matter told ET.
Pamnani took over as vice-chairman at Bajaj Finserv in 2008 just after Bajaj Auto was de-merged.
Currently, the bank’s CFO S Sundar, is in charge as interim CEO.
The study notes that there is an increasing preference for FDI as an alternative source of capex financing.
The three submitted their latest offers on Friday after lenders had met last Monday to consider the earlier proposals. A key issue is whether to wind down Altico or keep it as a ‘going concern’. Creditors and bidders are slated to meet Monday.
Sinha, wife of former aviation minister Jayant Sinha, will be the chief investment officer of In-Cred, which is looking to expand to a full-service financial services company from retail and MSME focused NBFC, multiple sources with knowledge of the matter told ET.
The company plans to considerably scale up its Android POS network in 2020-21 to 1.5 lakh machines and diversify into newer industries. POS machines are used by merchants to accept payments through cards among other features. The company, which had launched Plutus Smart (its Android-based point of sale machines) about nine months ago, has already deployed over 50,000 of these POS terminals.
The bank holds 64.40 per cent in the unlisted housing finance company, while the remaining stake is held by Housing & Urban Development Corporation (HUDCO), Unit Trust of India (UTI) and National Housing Bank (NHB). The bank is facing operational curbs under the Reserve Bank's (RBI) prompt corrective action (PCA) framework.