money and banking

Finmin asks banks to place in place oversight mechanism for environment friendly administration of pending circumstances in DRTs

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The Finance Ministry on Saturday requested banks to place in place efficient monitoring and oversight mechanisms for environment friendly administration of pending circumstances in Debt Restoration Tribunals (DRTs). Monetary Companies Secretary M Nagaraju, who chaired a gathering with chairpersons of Debt Restoration Appellate Tribunals (DRATs) and Presiding Officers of Debt Restoration of Tribunals (DRTs) additionally … Read more

Lenders used Account Aggregator Framework to facilitate loans: Sahamati

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Lending corporations have used Account Aggregator Framework to facilitate loans price ₹42,300 crores since September 2021 until March 2024, with cumulative common mortgage ticket measurement at ₹1,00,237 for a similar interval, in accordance with report by Sahamati, which is an business alliance for the Account Aggregator (AA) ecosystem. The expansion in facilitating loans is indicated … Read more

Dholera SIR attracting ₹2,000-3,000 crore funding yearly in land and plots

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Dholera Particular Funding Area (SIR) in Gujarat is attracting contemporary funding of ₹2,000-3,000 crore yearly in realty belongings, with traders primarily from North buying land and plots, in accordance with a realty developer. These investments mirror the growing confidence within the undertaking, the developer mentioned. The Dholera SIR undertaking is being collectively developed by the … Read more

Bank card market in India to double by 2028-29: Pwc

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The variety of bank cards in India is predicted to achieve 200 million with a CAGR of 15 per cent, highlighted a report by PwC. The report said that the bank card trade has skilled important enlargement, doubling the variety of bank cards issued over the previous 5 years. This momentum is predicted to proceed, … Read more

Aditya Birla Capital offloads total stake in insurance coverage broking arm

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Non-banking finance firm (NBFC) Aditya Birla Capital has accomplished sale of its 50 per cent stake in Aditya Birla Insurance coverage Brokers Ltd (ABIBL) to Edme Companies, which is part of Samara Capital Group, in line with an alternate submitting. “The transaction is now accomplished with the sale of total 25,65,103 fairness shares…representing 50.002% of … Read more

Unified Pension Scheme gives advantage of each outdated and new pension scheme

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The Modi authorities has accredited a brand new pension scheme on Saturday referred to as the Unified Pension Scheme (UPS), which is able to come into impact from April 1 2025.The opposition events have been queueing as much as convey again the outdated pension scheme (OPS) which was changed by new pension scheme (NPS) in … Read more

Indian tribunal dismisses petitions opposing ICICI Securities’ delisting, report says

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An Indian firm tribunal has dismissed objections raised by minority shareholders of ICICI Securities concerning its delisting plans, Bar and Bench reported on Wednesday. ICICI Financial institution, which holds a roughly 75 per cent stake in ICICI Securities, gained shareholder approval to purchase out the remaining stake in March in a share-swap deal price $622 … Read more

UPI service provider transactions in Nepal cross 100,000 milestone

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NPCI Worldwide Funds Restricted (NIPL) has achieved a serious milestone by surpassing 100,000 cross-border Unified Funds Interface (UPI) Individual-to-Service provider (P2M) transactions in Nepal, the NIPL mentioned in a press release. NIPL is a world arm of the Nationwide Funds Company of India (NPCI). NIPL collaborated with Fonepay, Nepal’s largest cost community, to launch the … Read more

Overseas banks, brokerages anticipate RBI to start out easing from December 

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Overseas Banks and Brokerages anticipate the Reserve Financial institution of India (RBI) to maintain coverage charges unchanged until December given the present bout of excessive meals inflation being “persistent” and having led to greater inflation expectations.  This is able to imply that almost all of those banks and brokerages don’t anticipate a fee lower within … Read more

“We aren’t apologetic in regards to the determination to go for the merger,” says HDFC Financial institution chief

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HDFC Financial institution is an establishment which goes to be a protracted play within the Indian financial system, mentioned MD & CEO Sashidhar Jagdishan whilst he emphasised that “we’re not apologetic in regards to the determination to go for the merger.” Answering shareholders’ questions on the Financial institution’s 30th AGM, he noticed that when the … Read more