Financial Institutions

RBI is working towards creating a robust data analytics ecosystem to support its supervisory functions, ensuring that the approach remains forward-looking and agile in a rapidly changing world, central bank's Deputy Governor Swaminathan J has said. Addressing 'High-level Policy Conference of Central Banks from the Global South' here last week, he said the supervision of banks and financial institutions is a relatively recent development - dating back around 50 years. However, the concept of overseeing banks is embedded in the very foundations of central banking. From the early days, central banks have fulfilled their role as the lender of last resort, ensuring that financial institutions remained solvent and protected against systemic crises, Swaminathan said. The senior RBI official further said that to build financial resilience, supervision must be proactive, continuous, forward-looking and risk-focused. An effective banking supervision system requires the supervisor to maintai

Trai's new mandate, set to take effect on November 1, would require traceability of messages sent by principal entities, including banks, e-commerce platforms, and financial institutions

Central Bank Digital Currencies (CBDCs), digital versions of a country's official fiat currency, are also being trialled worldwide

Financial institutions are increasingly vulnerable to data security risks due to their dependency on external service providers, limited cybersecurity budgets, and poor implementation standards

The bonds have received a AAA rating from India Ratings

Digital underwriting is not just about making decisions quickly through automation: It ensures greater financial inclusion and improves risk control

RE project developers commit 570 GW of capacity addition

Restructuring, grace periods and tailored repayment plans can be used as tools, says Swaminathan

More than half of global financial institutions find keeping up with changing regulations as a challenge in meeting ESG goals

The company reports strong retail franchise with a retail book size of Rs 80,037 crore

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Wednesday recommended Rana Ashutosh Kumar Singh for the post of Managing Director of State Bank of India (SBI). Singh is currently serving as deputy managing director at SBI. SBI, the country's largest lender, has four managing directors and one chairman. Declaring the result of the selection process, the Financial Services Institutions Bureau (FSIB) in a statement said the Bureau interviewed 16 candidates on April 23 and 24. "Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Rana Ashutosh Kumar Singh for the position of MD in SBI," it said. The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. FSIB is headed by former Department of Personnel and Training (DoPT) Secretary Bhanu Pratap Sharma. Other members of the headhunter are

RBI said in the draft disclosure framework said REs are already required to disclose information on material risks as a part of their Pillar 3 disclosures

Real estate developers and financial institutions are bullish on their outlook for the property market for the next six months and expect the high demand to sustain its momentum, according to a Knight Frank and NAREDCO report. Real estate consultant Knight Frank and realtors' body Naredco on Sunday released their 39th edition of Real Estate Sentiment Index for Q4 2023 (October-December 2023). As per the report, the current sentiment index score remained in the optimistic zone, rising to 69 from 59 in the third quarter of 2023 calendar year. The sentiment index is based on the survey of supply-side stakeholders like developers, investors and financial institutions. A score of above 50 indicates 'optimism' in sentiments, a score of 50 means the sentiment is 'same' or 'neutral'. The score below 50 indicates 'pessimism'. The future sentiment score, which indicates stakeholders' outlook, has also increased from 65 in Q3 2023 to 70 in Q4 2023, driven by general optimism about the Indian

According to industry sources, Airtel Payments Bank has placed 5x to 7x more orders for FASTags than they would place in a normal order

Finance Minister Nirmala Sitharaman on Friday met French President Diplomatic Advisor Emmanuel Bonne and sought greater participation from French financial institutions and operations in the International Financial Services Centre (IFSC) at GIFT City. "They discussed approaches for further enhancing collaborative positions on climate actions, strengthening international financial institutions and addressing the debt vulnerability in low-and-middle-income countries," the finance ministry said in a post on X. Recognising the synergy between Indian UPI and French Targeted Instant Payment Settlement (TIPS), they explored avenues for closer financial integration, it said. "Finance Minister Smt. @nsitharaman encouraged greater participation from French financial institutions and corporations in pathbreaking initiatives and operations in IFSC at @GIFTCity," it said. Bonne is in the national capital ahead of the upcoming visit of French President Emmanuel Macaron as the chief guest for the

He categorized these risks into three broad sets-data bias and robustness, governance, and transparency

Market participants said the corporate bond market showcased resilience and promise in 2023

The Reserve Bank on Thursday instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary. The central bank has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers and also aligned the same with the relevant recommendation of the Financial Action Task Force (FATF). "All cross-border wire transfers shall be accompanied by accurate, complete, and meaningful originator and beneficiary information...," as per the updated instructions in the Master Direction. Also, domestic wire transfers, where the originator is an account holder of the ordering regulated entity (RE), should be accompanied by originator and beneficiary information, as in the case of cross-border wire transfers. "Domestic wire transfers of Rs 50,000 and above, where the originator is not an account holder of the ordering RE, shall also be accompanied by originato

MoneySign assessment framework, for which the financial institution has won the psychology patent has been developed with the help of global psychology experts

NK Singh, Larry Summers to head the expert group