MUMBAI: Finance minister Nirmala Sitharaman on Friday referred to as upon banks to embrace innovation and digital transformation, emphasising the necessity to adapt to altering buyer expectations and technological developments.At an occasion in State Financial institution of India (SBI), the place she nearly inaugurated 70 new branches and 501 girls customer support factors throughout the…
RBI Deputy Governor M. Rajeshwar Rao Mumbai, Amid issues emanating from spurt in unsecured lending and an euphoria in derivatives, Reserve Financial institution Deputy Governor M Rajeshwar Rao on Friday requested monetary sector entities to protect towards “reckless financialisation”. Talking at an occasion in inventory trade NSE right here, Rao mentioned the “temptation” of short-term…
Reserve Financial institution of India launches RBIDATA In a major transfer to raise monetary transparency and accessibility of knowledge, the Reserve Financial institution of India has launched RBIDATA, a cell software that gives macroeconomic and monetary statistics regarding the Indian financial system in a user-friendly and visually participating format. This transfer aligns with the central…
Mihir Gandhi The monetary setting of India is swiftly altering, and the Unified Lending Interface (ULI) is anticipated to additional revolutionise this area by making certain easy credit score entry throughout varied trade sectors within the nation. Given India’s bold goal of reaching a USD 5 trillion economic system by 2025, tackling the essential problem…
Reserve Financial institution Innovation Hub The Reserve Financial institution Innovation Hub and IIMA Ventures on Thursday launched Swanari TechSprint 3.0, a programme geared toward fostering women-centric fintech startups in India. The programme offers a platform for fintech innovators to conceptualise, develop, and scale options that handle the distinctive monetary wants of girls. The Reserve Financial…
NEW DELHI: The micro finance establishments (MFIs) business in India has witnessed a skyrocketing development of greater than 2,176 per cent up to now 12 years, with its enterprise hovering from Rs 17,264 crore in March 2012 to Rs 3.93 lakh crore as of November 2024. This was highlighted throughout a gathering chaired by M…
NEW DELHI: The Ministry of Finance on Saturday revealed that the Unified Funds Interface (UPI) accomplished 15,547 crore transactions between January and November 2024. These transactions amounting to Rs 223 lakh crore mirror UPI’s transformative influence on monetary transactions throughout India.UPI is driving a world revolution, not solely increasing throughout worldwide markets but in addition…
The Finance Ministry stated on Saturday that about 48 crore folks had signed up for accident insurance coverage protection value ₹2 lakh through the Pradhan Mantri Suraksha Bima Yojana (PMSBY). With over 54 crore beneficiaries, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has emerged as a keystone of monetary inclusion, enabling unbanked folks throughout the…
NEW DELHI: The Unified Funds Interface (UPI), since its launch in 2016, has vastly reworked monetary entry within the nation, enabling 300 million people and 50 million retailers to carry out seamless digital transactions, and until October final yr, 75% of all retail digital funds in India have been made via UPI, in keeping with…
