All Banking & Crypto Related Details

The Reserve Bank of India has eased rules for non-banking financial companies. NBFCs can now open branches without prior approval in most situations. This change aims to simplify business operations. Deposit-taking NBFCs have specific conditions based on their net owned funds and credit ratings for opening branches or appointing agents. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/FXY28D1 via IFTTT

Reserve Bank of India is consulting banks on ways to attract larger and more stable deposits as household savings shift to equities and mutual funds, putting pressure on liquidity. Deposits are growing slower than loans, increasing funding costs and credit-deposit ratios. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ZVEQbMt via IFTTT

Since the start of the calendar year, major devaluations have hit multiple premium and super-premium cards, shocking the high spenders. No card has been spared, be it the ICICI Emeralde Private Metal (removal of some vouchers for accelerated rewards), American Express Platinum Travel (higher spend milestones for bonus rewards), or Axis Bank (removal of three popular transfer partners without advance notice). HDFC Bank, too, has asked its Infinia customers to clock in annual spends of at least Rs 18 lakh or maintain a total relationship value of at least Rs 50 lakh to retain the by-invite-only metal. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/kB9jtq3 via IFTTT

HDFC Life CEO Vibha Padalkar’s journey reflects resilience shaped by early family influence and a belief in long-term thinking. After early career rejections and a move to London at 17, she built a career in financial services and has led HDFC Life since 2018 through key transitions while sustaining steady growth and expansion. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/saZHKdq via IFTTT

As the demand for loans skyrockets, Indian banks find themselves grappling with a challenge: enticing savers to deposit their money. For years, growth in deposit accounts has lagged behind credit advances, prompting banks to ramp up their offers with more attractive interest rates. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/mAsTWc1 via IFTTT

Reserve Bank Deputy Governor Swaminathan J cautioned about AI in finance, saying that without proper safeguards, AI adoption can worsen existing issues and introduce new harms. While AI offers benefits like improved customer service and credit delivery, it also presents risks such as bias, opacity and data privacy concerns, he said. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uwaH4QK via IFTTT