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According to a source, the appointment of Challa Sreenivasulu Setty as managing director (MD) of SBI has been cleared by the BBB, headed by former Department of Personnel and Training secretary BP Sharma, while the name of Ashwin Bhatia, MD & CEO of SBI Mutual Fund, has been kept as a standby for the same position.

SBI cuts rates, says more next time

SBI announced a reduction in its MCLR by 5 basis points across all tenors while BOI cut MCLR by 10 basis points for...

8 Feb 2020 3:14 AM IST

Life Insurance companies are expected to report strong first quarter earnings, as the individual new business premium (NBP) growth for them has been over 30 per cent.

Budget proposals to impact growth of life insurers

The net impact of the change will range from 50 basis to 200 basis points on the margins and upto 5 per cent on the...

7 Feb 2020 2:09 AM IST

Reserve Bank of India (RBI)

Policy measures to drive credit growth

The special dispensation will be for all bank credit to these sectors for a period of six months between January 31 and...

7 Feb 2020 1:58 AM IST

RBI Governor Shaktikanta Das.

RBI keeps rates intact, clears way for cheaper loans

The central bank also announced a one-time permission to extend restructuring of MSME loans.

7 Feb 2020 1:20 AM IST

The Budget has given priority to agriculture, MSME, NBFC, infrastructure and affordable housing. Reviving business confidence, private capex recovery, manufacturing, have got lower attention.

Credit guarantee on debt for NBFCs, HFCs

The move, according to experts, would help NBFCs in the recovery process of an even smaller loans.

2 Feb 2020 3:05 AM IST

Experts said that while higher insurance cover on bank deposits should support the deposit accretion of banks, it would increase the premia cost for banks.

Budget 2020: Bank deposits insured till Rs 5 lakh

All deposits of a depositor maintained across all branches of the failed bank are insured upto Rs 1 lakh only on the...

2 Feb 2020 3:01 AM IST

Finally, this resulted in the mad rush among the people for cover and they came forward in big numbers to buy expiring LIC products.

Budget 2020: LIC to get listed on stock exchange

After two capital infusions, the government owns a substantial part of IDBI Bank (46.5 per cent stake) which will be...

2 Feb 2020 2:49 AM IST

Kotak Mahindra Bank on Tuesday said it will offer debit card at a special price of Rs 99 for the first year for customers who will open account under its zero balance account scheme till September 15.

Kotak Bank and RBI smoke peace pipe

As on date, the shareholding of promoter Uday Kotak, who is also the MD & CEO of Kotak Bank, and the promoter group,...

31 Jan 2020 1:34 AM IST

Banks have recognised DHFL and Cox & Kings as fraud and those that have an exposure to these accounts will have to provide 100 per cent upfront for the exposure.

PSB merger: Insurers told to service all policies

A bank can continue to buy group insurance covers with any number of insurance companies for the insurance needs of its...

29 Jan 2020 1:40 AM IST

The non-life insurance companies underwrote a gross premium of Rs 1.42 lakh crore during April to December 31, 2019 compared to Rs 1.23 lakh crore during the same period a year ago.

Crop cover premia near Rs 6,200 crore in April to December

The four PSU insurers New India Assurance, Oriental Insurance, National Insurance, United India clocked 74 per cent...

28 Jan 2020 1:37 AM IST

Future First Insurance Broking has teamed up with Arohan Financial Services, part of the Aavishkaar Group, eastern Indias largest NBFC MFI, to offer simple, customized and affordable insurance products in areas of major livelihood threats including health, accident, natural calamities, theft etc.

Slowdown to hurt insurance sector

By the Irdai's December 2019 data, the non-life insurance sector witnessed a significant slowdown.

22 Jan 2020 6:51 AM IST

Kotak Mahindra Bank on Tuesday said it will offer debit card at a special price of Rs 99 for the first year for customers who will open account under its zero balance account scheme till September 15.

Kotak's asset quality slides

BoM reports net profit of Rs 132 crore against loss of Rs 3,766 crore Federal Bank Q3 net rises per cent.

21 Jan 2020 1:09 AM IST