IFSC forms panel to examine best practices in ship financing

India is strategically located on the world’s shipping routes and has a large coastline of approximately 7500 kms. India also has a dozen major and over 200 minor ports.

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BharatPe to give fintechs platform with PMC play

BharatPe has said that partnering Centrum Finance in a new bank, as part of the PMC Bank rescue, will enable it to provide a tech platform for all fintechs.

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SBI launches Aarogyam healthcare business loan

The Aarogyam loan can be availed either as term loan to support expansion/modernisation or as working capital facilities such as cash credit, bank guarantee/letter of credit, SBI said.

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Insurers have settled 15.3 lakh health and 48,000 life claims amid lethal second wave: Irdai Official

“Over 19.11 lakh Covid health claims have been reported as on 22nd June as far as medical insurance or hospitalisation is concerned. While in terms of death claims, which is handled by the life insurers, about 55,276 claims have been intimated and nearly 88 per cent i.e., 48,484 claims amounting to Rs 3,593 crore have already been settled,” said T.L. Alamelu, Member (Non-Life), IRDA while inaugurating 13th Global Insurance E-Summit & Awards organised by ASSOCHAM.

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India's bank credit-to-GDP ratio inches up to 56% in 2020, but still way behind peers: BIS data

At 56.075 per cent credit-to-GDP ratio, total outstanding bank credit stood at USD 1.52 trillion in the country in 2020, according to the BIS data for the year, but this is still the second lowest among all its Asian peers. And when it comes to the emerging market peers, it is 135.5 per cent and at 88.7 per cent in advanced economies.

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Indian Bank focuses on fee income, cost reduction to boost bottom lin

At the same time there is optimism that with a higher proportion of the population getting vaccinated, there will be a turnaround in the economic activity as has been witnessed in other countries.

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Mastercard brings on board Yes Bank’s Nikhil Sahni

Sahni will be taking over from Porush Singh, who is relocating to Singapore and assuming a new role within the company.

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Loan default case: CBI conducts searches in Mumbai, Delhi against Avantha Group promoter Gautam Thapar

Earlier this month, the federal agency had booked Thapar, two private companies based at Delhi and Gurugram and their promoters and directors for causing an alleged loss of Rs. 466.51 crore (approx) to Yes Bank.

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Smaller banks get cold feet, deactivate cryptocurrency accounts

While large banks like State Bank of India, HDFC Bank, Axis Bank and ICICI Bank continue to be reluctant, some smaller banks such as IDFC Bank had started offering their services to some exchanges, several people in the know said. Now, more smaller players seem to be pulling back.

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RBI penalises three Maharashtra-based co-operative banks

The penalty on Excellent Co-operative Bank was imposed for contravention of the directions issued by RBI on 'Maintenance of Deposit Accounts' and 'Know Your Customer (KYC)'. Janseva Sahakari Bank was fined for contravention of the direction issued by on KYC.

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PNB board meeting on Friday; PNB Housing Finance issue may come up

According to sources, although it is not part of the agenda, the board may discuss the PNB Housing Finance and Carlyle deal amid regulatory concerns.

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Banks getting ready for rise in credit demand, raising capital

The credit demand is primarily expected from the retail segment as seen in earlier months while corporate demand is likely to be muted.

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Central bank digital currencies can offer finality, liquidity, integrity: BIS

Noting that central banks stand at the centre of a rapid transformation of the financial sector and the payment system, BIS said Central Bank Digital Currencies (CBDCs) represent a unique opportunity to design a technologically advanced representation of central bank money, one that offers the unique features of finality, liquidity and integrity.

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