The Banking Laws (Amendment) Bill, 2021, to be introduced during the session is expected to bring down the minimum government holding in the PSBs from 51 per cent to 26 per cent, sources said.
With mobile becoming an integral part of our daily life and its reach in every nook and corner of India coupled with high-speed internet, nothing seems unreachable and unwished.
HDFC Ergo was the first insurer to launch a drone insurance cover in June 2020, followed by ICICI Lombard in August 2021, and Tata AIG last month. All these insurers offer a comprehensive insurance wherein an operator can opt for both hull and liability covers, for any commercial usage permitted by the aviation watchdog DGCA.
Earlier, Infrastructure Leasing and Financial Services (IL&FS) said it has completed the sale of its 71.84 per cent stake in IL&FS Prime Terminals FZC to VTTI Terminal I BV.
This is Annapurna's second equity infusion in as many years. Annapurna had raised $30 million equity from US-based Nuveen Global Impact Fund in March 2021.
with Airtel Payments Bank, consistent rewards is a way of banking. People earn rewards on shopping, transactions, and so much more. So, rather than scouting for the next big deal, earn more from your transactions and payments.
Stressed asset investment opportunities over next five years, emanating from existing stock of unresolved NPAs, fresh credit defaults, and special situation opportunities can be worth approximately USD 25 billion, the report by consultancy EY said.
Earlier in the Union Budget Finance minister Nirmala Sitharaman announced that two public sector banks would be privatised this financial year.
"It was observed that TCPSL was non-compliant with the directions issued by RBI on White Label ATM deployment targets and net-worth requirement. ATPL was non-compliant with the directions issued by RBI on maintenance of escrow account balance and net-worth requirement," it said.
The USSD (Unstructured Supplementary Service Data) is a service that uses a short code for making transactions or inquiries. Since it does not need a data connection, the service is used by a large majority of people, primarily feature phone users, and is therefore also used as a medium for no-frills banking transactions.
Industry players need a breather after recurring payments revamp. Given that extensive technological, operational and integrational aspects need to be developed, tested and deployed in the payments ecosystem, the RBI should consider a transitional timeline of 6-12 months for solutions such as tokenization to be implemented.
City Union Bank Managing Director and CEO N Kamakodi said that though the older generations are much comfortable with the manual banking channel, many of them are now trying to use the digital channel also.
If the land does not qualify as agricultural land, the capital gains thereon shall be taxable in the hands of an individual.