RBI Imposes Penalties on IDFC First Bank and LIC Housing Finance The Reserve Bank of India (RBI) has recently imposed penalties on IDFC First Bank and LIC Housing Finance. This action comes as a consequence of various regulatory breaches by these financial institutions. The penalties, amounting to significant sums, highlight the regulatory vigilance maintained by…
Challenges for Banks Exiting AIF Units: Limited Options in Absence of Secondary Market Exiting Alternative Investment Funds (AIFs) presents a significant challenge for banks due to the limited avenues available in the absence of a robust secondary market. AIF units, primarily investments made by banks in various AIFs, pose intricate hurdles during divestment. This challenge…
Anticipated Deceleration in Growth for Unsecured Retail Loans in FY24 The fiscal year 2024 is projected to witness a noticeable deceleration in the growth of unsecured retail loans. This forecasted decline comes as a significant concern within the financial sector, primarily due to various economic factors influencing consumer behavior and lending practices. Experts in the…
Umesh Revankar Appointed as Chairman of FIDC The Financial Institutions Development Council (FIDC) has recently announced the appointment of Mr. Umesh Revankar as its Chairman, marking a significant development in the financial sector. This move has garnered attention, especially among aspirants preparing for government exams, including those aspiring for positions in the banking and civil…
AU Bank Becomes India’s First Bank to Provide 24×7 Video Banking Service AU Small Finance Bank has achieved a significant milestone by becoming the first bank in India to introduce round-the-clock video banking services, revolutionizing customer interactions and setting a new standard in the banking sector. This innovative initiative aims to enhance customer convenience, streamline…
LIC Raises Stake in Tech Mahindra to 8.88% Through Open Market Transactions LIC Raises Stake in Tech Mahindra | Tech Mahindra, one of India’s leading multinational technology companies, recently witnessed a significant development as the Life Insurance Corporation of India (LIC) increased its stake in the company through open market transactions. LIC, the largest insurance…
