Payments banks pose risk to public lenders market share: Fitch

Last Updated: Thursday, August 20, 2015, 12:23

The proposed Payments Banks will increase competition for the public sector lenders and could also pose risks to their market share over the long-term, Fitch Ratings said Thursday.

India Post says open to partnerships for payments bank

Last Updated: Thursday, August 20, 2015, 12:16

Having secured RBI's nod to set up a payments bank, the Department of Posts has said it is open for partnership in this new venture and is in talks with some telecom companies.

Small finance bank licences next month: Raghuram Rajan

Last Updated: Thursday, August 20, 2015, 11:16

Rajan said that RBI would announce small finance bank licences next month.

Reliance, Airtel, Vodafone, eight others get RBI nod to set up payments banks

Last Updated: Thursday, August 20, 2015, 09:30

Payments bank licence will allow companies to collect deposits (initially up to Rs 1 lakh per individual), offer Internet banking, facilitate money transfers and sell insurance and mutual funds.

Vodafone says will offer comprehensive financial services

Last Updated: Wednesday, August 19, 2015, 23:49

Vodafone India Wednesday said the payments bank licence will enable it offer a comprehensive portfolio of banking and financial products and services, accelerating India's journey into a cashless economy.

Payments bank will bring millions unbanked into banking folds: Airtel

Last Updated: Wednesday, August 19, 2015, 22:30

Bharti Airtel Wednesday said the payments bank licence will help in bringing millions of unbanked Indians into the folds of banking services.

Payments bank to be operational before 18-month deadline

Last Updated: Wednesday, August 19, 2015, 22:24

Enthused by the grant of payments bank licence, the successful applicants Wednesday said they would launch the services ahead of the 18-month deadline prescribed by the Reserve Bank.

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.

Payments banks important step; to expand rural banking: FM Jaitley

Last Updated: Wednesday, August 19, 2015, 20:11

RBI granting payments bank licences is a significant step which will bring in more money into the system and spread the reach of banking to rural areas, Finance Minister Arun Jaitley said Wednesday.

RBI to facilitate oil payments of $6.5 billlion to Iran

Last Updated: Wednesday, August 5, 2015, 19:45

he Reserve Bank of India (RBI) will assist Indian refiners to clear over USD 6.5 billion of past dues they owe to Iran for crude oil purchases, a senior official said Wednesday.

Amfi relaxes norms for upfront commission fee for SIP

Last Updated: Wednesday, July 29, 2015, 18:21

With an aim to provide incentives to mutual funds' distributors for selling systematic investment plans (SIPs), industry body Amfi has relaxed the norms for upfront commission payments for such schemes.

PayPal keen to expand business in India

Last Updated: Tuesday, July 21, 2015, 22:42

After its separation from e-commerce major eBay, digital payments company PayPal Tuesday said it is now free to partner with its founder's competitors and is keen to expand in India.