Banking

SBI General, one of India's leading General Insurance Companies and, YES BANK, a leading private sector bank, signed a Corporate Agency Agreement for the distribution of retail products of SBI General Insurance Company for its corporate and retail customers. The products of SBI General Insurance Company will be offered to YES BANK's customers across 28 states and 8 Union...

Mangal Credit and Fincorp Limited (MCFL), a leading non-banking financial company (NBFC) promoted by industry veteran Mr. Meghraj Jain, has announced its' entry into the loan against gold and diamond jewellery market with the launch of its' maiden retail branch in the Mumbai suburbs of Vile Parle followed by the launch of five more outlets in Andheri, Kandivali, Mira...

SoftBank executives have held early stage talks about taking the Japanese technology group private as the company seeks a new strategy after disposing of several large assets, according to a person familiar with the matter. The discussions are driven by frustrations over the persistent discount in SoftBank's equity valuation compared with the value of its individual holdings, which continues...

Electronic Payment and Services (EPS), India's leading indigenous payment processing company, has achieved concluding 100 daily sessions of organizing online expert talk-series on banking development through its homegrown digital platform #BusinessBankingDialogue. This unique campaign is a pandemic response initiative, towards supporting the banking fraternity. New Umbrella Entity - Duplication or Innovation The centennial session on Sep 14 covers the...

As bank Fixed Deposit rates hover around the 4-6% mark, people are switching to corporate FDs to earn higher returns. While these FDs promise attractive returns, there is always a question of safety of deposits. Hence, when choosing to invest in Fixed Deposit, it is best to choose AAA-rated deposits accredited with the highest safety. Fixed Deposit offered by...

Koshex helps its customers create and grow wealth by providing hyper-contextualized insights and transaction platform for Savings, Investments and Debt Customers can use the platform to buy investment products ranging from gold to mutual funds Koshex is focused on millennial customers aged 23-40 The platform is a product of Neuokosh, founded by Akash Agrawal and Komal Kumar Gupta Koshex...

The State Bank of India (SBI) is planning a voluntary retirement scheme (VRS) for which over 30,000 employees will be eligible. According to a report in news agency PTI, the state-lender is planning the VRS scheme to optimise its costs. Out of the 2.49 lakh employees of the bank, at least 30,190 employees are eligible for the VRS scheme,...

The pandemic has not only knocked off revenues of MSMEs' but also disturbed their hopes of survival. In a bid to rescue MSMEs and improve their cash flows, Razorpay, the leading full-stack financial solutions company, today launched a collateral free line of credit, 'Cash Advance' for businesses. With Cash Advance, MSMEs can borrow working capital with a credit limit...

SBI MF will stop accepting lump sum investments into SBI Small Cap Fund. The fund house will only accept systematic investment plans (SIPs) that up to Rs 5,000 per investor. The decision comes after a sharp rally in small cap universe since June.SBI Small Cap Fund had stopped accepting lumpsum investments earlier from October 2015 to March 2020....

The government and its bureaucrats need to be frightened out of their complacency and a stimulus is critical to prevent an "atrophied" economy, former RBI chief Raghuram Rajan has said in a post reacting to what he calls India's alarming -23.9 per cent quarterly GDP. Without relief measures, the growth potential of the economy would be "seriously damaged", he...