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Govt needs to revive NITI Aayog's PSU, PSB privatisation program: Arvind Panagariya

Former NITI Aayog vice chairman Arvind Panagariya urges the government to revive privatization of public sector undertakings and banks. He believes this is crucial for India's economic reforms. Panagariya also suggests establishing a dedicated privatization ministry to speed up disinvestment. He notes that foreign investors remain positive about India's long-term growth prospects despite recent capital outflows. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1rxCz9h via IFTTT
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DBS optimistic about India’s long-term structural growth: Chief says country must invest in talent; focus on wealth space

DBS Bank's CEO views India as a significant long-term growth opportunity. The nation can benefit from the AI-driven demand for hardware. However, India must invest in its people and education to seize this potential. DBS remains committed to India, increasing investments in wealth management and client connectivity. The bank sees strong future prospects for the country. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mTnj65J via IFTTT
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Sebi to issue guidelines on responsible use of AI in capital markets, chief Pandey says

India's market regulator, SEBI, is creating rules for artificial intelligence in financial markets. SEBI chief Tuhin Kanta Pandey announced this plan. AI can help with surveillance and fraud detection. However, it also poses risks like bias and data protection issues. SEBI will issue guidelines for responsible AI use. The regulator will also consider international recommendations. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/eEfGgTU via IFTTT
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RBL Bank taps HDFC veteran Bhavin Lakhpatwala as CFO

RBL Bank has appointed Bhavin Lakhpatwala as its new Chief Financial Officer. Lakhpatwala joins from HDFC Bank, bringing over 25 years of finance experience. This appointment fills a vacant position and comes as Emirates NBD moves to acquire a controlling stake. The new CFO is expected to guide the bank through its ownership transition and future growth phase. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/tqcV3TI via IFTTT
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Banks seek RBI nod on Guarantee Rule to boost NRI deposit inflows

Banks are urging the RBI to clarify regulations for the new FCNR deposit scheme, aiming to attract diaspora funds. They seek a tweak in wording to allow Non-Resident Indians to leverage multiple times for investments, crucial for the scheme's success in arresting the rupee's slide. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mBeIo6W via IFTTT
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PNB, Ujjivan raise FCNR deposit rates

Punjab National Bank and Ujjivan Small Finance Bank have raised interest rates on FCNR(B) USD deposits for Non-Resident Indians. This move follows the RBI's announcement of a foreign currency swap window. Bank of Baroda has also introduced a new retail term deposit scheme for resident Indians. These initiatives aim to attract foreign capital and offer attractive returns to depositors. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/w429hqd via IFTTT
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Govt eyes rural credit push via flagship schemes, seeks to expand RRB customer base

The government is enhancing rural credit by integrating the Grameen Credit Score with the JanSamarth portal for faster loan processing. Regional Rural Banks will expand their customer base and diversify into investment credit, while also promoting digital lending platforms like e-KCC to boost financial inclusion. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/jYhaEMe via IFTTT
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