Prasad wants Department of Post to become vehicle of financial inclusion

Last Updated: Wednesday, August 19, 2015, 20:16

Armed with a payments bank licence now, the postal department should gear up to become a vehicle of financial inclusion in the country, Communications and IT Minister Ravi Shankar Prasad said Wednesday.

FTIL renames itself as 63 Moons Technologies

Last Updated: Wednesday, August 19, 2015, 18:06

Jignesh Shah-led Financial Technologies (India) Ltd on Wednesday proposed to change its name to 63 Moons Technologies Ltd as it seeks to reinvent itself in the wake of the NSEL crisis.

RBI cancels registration certificate of 7 NBFCs

Last Updated: Monday, August 17, 2015, 23:32

Reserve Bank has cancelled certificate of registration of seven non-banking financial companies (NBFCs) including that of Religare Finance Limited.

Bank accounts now with 70 crore Indians: Modi

Last Updated: Saturday, August 15, 2015, 09:39

Prime Minister Narendra Modi on Saturday said some 70 crore people untouched by any form of financial inclusion on Saturday had bank accounts, thanks to the scheme he announced exactly a year ago.

Stressed discoms to turn around in 3 years: Goyal

Last Updated: Friday, August 14, 2015, 21:44

Power Minister Piyush Goyal on Friday said the government is in active dialogue with the discoms on turnaround plans and there will be a noticeable changes in the situation of stressed utilities in the next three years.

Reliance Capital Q1 net profit up 22.5% at Rs 201 crore

Last Updated: Friday, August 14, 2015, 15:42

Financial Services firm Reliance Capital on Friday reported a 22.5 percent rise in net profit at Rs 201 crore for the first quarter ended June 30.

GE to sell Healthcare Financial Services for $9 bn

Last Updated: Wednesday, August 12, 2015, 03:40

General Electric said Tuesday it has agreed to sell its Healthcare Financial Services and related loans to US bank Capital One for $9 billion.

Banks Board Bureau to be set up soon: Secretary

Last Updated: Sunday, August 9, 2015, 19:23

The Bureau is likely to be a six-member board comprising former CMDs of banks and financial services sector experts.

Black money: Mauritius takes fresh steps to address round-tripping concerns

Last Updated: Sunday, August 9, 2015, 15:34

As a revision to the Indo-Mauritius tax treaty hangs in balance, the financial sector watchdog of the island nation has said its fresh conditions for grant of tax residency certificates will help address India's concerns on suspected round tripping of funds.

Rangarajan favours RBI majority in Monetary Policy Committee

Last Updated: Sunday, August 9, 2015, 11:10

Joining the debate over the powers of RBI Governor in setting policy rate, bank's former head C Rangarajan on Sunday said the government can do away with the veto power of Governor but the majority of members in the Monetary Policy Committee should be from the apex bank.

Conclude NSEL-FTIL merger process by Oct 31: HC to Ministry

Last Updated: Friday, August 7, 2015, 21:44

The Bombay High Court Friday directed the Union Ministry of Corporate Affairs to complete by October 31 the process of passing final order on the proposed merger of National Spot Exchange of India with Financial Technologies (India) Ltd (FTIL).