All posts by banking

RBI panel moots banking licenses for large corporates

Reported by | Updated: November 23, 2020

An internal working group of the Reserve Bank of India has proposed that large corporates or industrial houses may be permitted to own banks if they meet certain regulations. The report said large corporate/industrial houses may be allowed as promoters of banks only after necessary amendments to the Banking Regulations Act, 1949 to deal with […]

HDFC Bank organizes ‘Mooh Band Rakho’ campaign

Reported by | Updated: November 20, 2020

HDFC Bank has launched an awareness program called ‘Mooh Band Rakho,’ a campaign to increase awareness on cyber frauds and preventing them. The bank will be conducting 1000 workshops in the next 4 months across the country. The campaign will highlight the simple steps bank customers should follow like not sharing card details, CVV, Expiry […]

4000th Hitachi Money Spot ATM operational

Reported by | Updated: November 20, 2020

Hitachi Payment Services said it has recently installed the 4000th Hitachi Money Spot ATM in India. The Hitachi Money Spot ATMs are White Label ATMs (WLAs) set up, owned and operated by the company. The company has successfully deployed over 590 WLAs in the last 7 months during the lockdown period despite the various constraints […]

ICICI Bank introduces cardless EMI facility

Reported by | Updated: November 20, 2020

ICICI Bank launched a cardless EMI facility, ‘ICICI Bank Cardless EMI’, which is a fully digital mode of payment at leading retail stores. The facility enables pre-approved customers to buy their favorite gadgets or home appliances just by using their mobile phone and PAN in lieu of wallet or cards. The bank is the first […]

Kris Gopalakrishnan to head RBI hub on innovation

Reported by | Updated: November 20, 2020

The Reserve Bank of India has appointed Senapathy (Kris) Gopalakrishnan, co-founder and former co-Chairman, Infosys, as the first Chairperson of the Reserve Bank Innovation Hub (RBIH). RBI had announced the setting up of the Innovation Hub in its statement on Developmental and Regulatory Policies sometime in August. It is intended to promote innovation across the […]

Buy Now, Pay Later’ becoming popular for EVs

Reported by | Updated: November 20, 2020

ZestMoney, the AI-driven EMI financing and ‘Buy Now Pay Later’ platform, said there is a 500% month-on-month growth in customers opting for the ‘Pay Later’ solution for electric vehicles. The number of electric vehicle dealers on ZestMoney’s platform has increased from 300 in July to 4500 in November. The firm said the demand for electric […]

SBI, India INX tie up with Luxembourg Stock Exchange

Reported by | Updated: November 20, 2020

State Bank of India has entered into a MoU with the Luxembourg Stock Exchange to create a mechanism for long term cooperation and promote ESG, or Environmental, Social and Corporate Governance and green finance. The MoU provides for the Luxembourg Stock Exchange to work towards creating a sustainable environment for issuers, asset managers, and investors […]

NeML platforms boost prices for FPOs

Reported by | Updated: November 15, 2020

In 3 years, NeML has registered over 4 million farmers and transacted more than Rs160 billion.   The erstwhile NCDEX Spot Exchange is now NCDEX eMarkets (NeML) and is the only full-service e-market company in the country. NeML’s Chief Sales Officer Shailesh Chitre says the company recently ran a successful campaign focusing on Farmer Producer […]

Digital KYC can handle 20x applications a day

Reported by | Updated: November 15, 2020

The associated cost to process credit card and loan applications by banks has come down significantly: BankBazaar was one of the first fintechs to realize the advantage of digital KYC and partner with leading banks and credit card issuers to facilitate contactless access to credit cards. Adhil Shetty, CEO of the firm, believes that contactless […]

The Future of Payments in Asia

Reported by | Updated: November 15, 2020

McKinsey & Co has brought out a report, ‘The Future of Payments in Asia’ in the wake of covid pandemic impacting payment systems and predicts the region’s payments industry’s solid foundation is poised to foster a relatively rapid return to mid-to-high single-digit growth rates. (Read the full report here)

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