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SBI plans big IT move to beat competition from ICICI, HDFC
N Jambunathan, CIO, SBI To shed off the general perception of lagging behind its closest business rivals in the private sector, ICICI and HDFC banks, in terms to usage of information technology, the...
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IRDA releases draft guidelines on e-settlement system
The Insurance Regulatory and Development Authority (IRDA) has released a draft guidelines on participation in its Electronic Transaction Administration and Settlement System (ETASS). The ETASS is an...
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ItzCash ties up with Flipkart for online shopping
Itzcash partnered with Flipkart to facilitate online shopping across over 75,000 outlets and reach out to the ones without having access to either a debit or a credit card. “The partnership is in the...
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FinMin approves online opening of NPS accounts for NRIs
Now, opening of National Pension Scheme account (NPS) will become easy for Non Resident Indians (NRIs) with the Finance Ministry making the procedure available online with the help of Aadhaar Card or a...
View ArticleFinancial sector to spend Rs 469 bn on IT in 2014: Gartner
Indian banking and securities companies will spend Rs 469 billion on IT products and services in 2014, an increase of more than 10 percent over 2013 revenue of Rs 427 billion, according to Gartner,...
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India allows state-run banks to sell shares for capital boost
The state-run banks have been allowed to raise as much as 1.6 trillion rupees ($26 billion) from share sales to boost capital. The government has decided to cut its ownership in banks to as low as 52...
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RBI redefines ‘non-cooperative’ borrower
To tighten grip on errant borrowers, the Reserve Bank of India (RBI) has come up with a set of revised guidelines on how lenders should deal with ‘non-cooperative’ borrowers. The RBI modified the...
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DCB Bank partners with iKaaz to launch mobile payment service
Private sector lender DCB Bank has inked a strategic partnership with iKaaz, a mobile payment start-up company, to launch innovative mobile payment solutions in India. As per the partnership, iKaaz...
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Government of India to launch Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana
The Government of India seeks to promote digital payment methods to encourage consumers and merchants to increasingly shift to these payment modes. To take this imitative forward, Lucky Grahak Yojana...
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Government rules out bank privatisation
Amid growing clamour for privatisation of public sector banks in the aftermath of the Rs 11,400 crore fraud hitting the Punjab National Bank, the Government has ruled out any such move. “This...
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