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FINANCIAL RESOLUTION AND DEPOSIT INSURANCE BILL
Lok Sabha passes bill to set up unified body to regulate IFSCs
"... we are bringing several regulators together as one unit to the limited extent of dealing with various institutions which are present in the IFSC," Finance Minister Nirmala Sitharaman said. All the laws of land, including the Prevention of Money Laundering Act, will apply. The unified authority will act as a single-window for regulating various financial activities in the IFSC, she said.
FDI limit in insurance companies may rise to 74%
The govt may raise the FDI limit in insurance to 74% in the February budget, up from the pre...
Cabinet clears more amendments to IBC; to ring fence successful bidders from risks
The Insolvency and Bankruptcy Code (IBC), which came into ...
How to make the FRDI bill more effective
The new Act should consider keeping its ripple effects on other laws to the minimum.
From farm to home, M&M Financial is doubling down on digital sales
M&M Financial cleverly evolved its business model to be on the right side of the evolving rural India scene.
Only up to Rs 1 lakh, not all money, insured in banks: RBI-owned subsidiary
Finance Minister Nirmala Sitharaman last month said the government plans to bring in legislation on raising the insurance cover on bank deposits from the current Rs 1 lakh during the winter session of Parliament.
Reserve Bank sends DHFL to NCLT for debt resolution
First financial services company to go for bankruptcy resolution.
RBI keeps repo rate unchanged: What does this mean for your loans and fixed deposits?
The Reserve Bank of India, in its monetary policy review today, kept the repo rate unchanged at 5.15%
Parliament approves chit funds amendment bill
The bill seeks to increase the limits for aggregate fund collections in chit funds to thrice the current limits and allows the chit fund foreman a right to lien against the credit balance from subscribers. The Lok Sabha passed the proposed amendment on November 20.
Need rules for non-disruptive exit in financial sector: Uday Kotak
The comments come at a time when the companies in the sector like DHFL are grappling with resolutions and the future of thousands of crore of debt is in doubt. It also comes at a time when cooperative lender PMC Bank is in troubles allegedly because of mismanagement, putting depositors in a difficulty.
Compensation you get for poor services offered by insurers, banks, mutual funds, tax department
Did you know that financial services providers like banks, insurers and fund houses have to pay a penalty to you if they don't meet deadlines? Even the tax department is not free from this. Here is the compensation you can claim for poor services.
View: It's time to revise the limit of deposit insurance cover
The coverage limit is required to be reviewed periodically, as the economic and financial landscape changes.
Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman
FM said the government will bring legislations on raising bank deposit cover from the current Rs 1 lakh.
RBI fast-tracks DHFL resolution, appoints advisory panel
IDFC First Bank's Non-Executive Chairman Rajiv Lall, ICICI Prudential Life Insurance's Managing Director and Chief Executive N S Kannan, and mutual funds' association AMFI's Chief Executive N S Venkatesh would be part of the three-member panel which will advise the administrator of DHFL, an official statement said.
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