The managing director (MD) and chief executive officer (CEO) of ICICI Bank Mr Sandeep Bakhshi has been named as the Business Standard Banker of the Year 2020-21. For 2020-21, ICICI Bank reported a net profit of Rs 16,193 crore against Rs 7,931 crore during the previous financial ...

The Central Bureau of Investigation (CBI) has registered an FIR against ABG Shipyard Ltd and its directors, including chairman and managing director Rishi Kamlesh Agarwal, in what could be the biggest bank fraud case in the history of India. ABG Shipyard, one of the most prominent private sector ...

Bank of Baroda will acquire Union Bank of India's 21% stake in IndiaFirst Life Insurance Company. It is a joint venture between Bank of Baroda, Union Bank of India and Carmel Point Investments. At present, the shareholding in IFIC is BoB holds ...

Axis Bank Ltd. is nearing a deal to buy Citigroup Inc.’s India retail banking business in a transaction that could be valued at about $2.5 billion. An agreement for the consumer unit may be announced as soon as the next few weeks and is contingent on approval from the Reserve ...

Yes Bank has announced the launch of an annual startup enabler program, Yes Bank Agri Infinity. It seeks to co-develop digital financial solutions for the food and agriculture ecosystem. Those meeting the eligibility criteria will receive the guidance and support necessary to develop ...

Private sector lender RBL Bank has announced a partnership with Creditas Solutions, a global technology company in the field of delinquency management, for its ‘Neo Collections’ platform. The Neo Collections Platform is a Do It Yourself (DIY) debt management platform that will help the ...

The Reserve Bank of India introduced the Voluntary Retention Route (VRR) for investments by Foreign Portfolio Investors (FPIs) on March 01, 2019. An amount of ₹1,50,000 crore was offered for investment through VRR, in three tranches so far; of which around ₹1,49,995 crore have been availed as ...

Karnataka Bank is awarded with the prestigious Digital Transformation Award, 'DX 2021 Awards' in recognition of the "Innovative" Best Practice 'KBL VIKAAS', conferred by Confederation of Indian Industry for Best Practice in Digital Transformation. The bank recently launched the digital ...

ICICI Lombard General Insurance on Monday said it is offering cyber insurance to customers of Airtel Payments Bank as rising digital payments and transactions pose threat of cyber fraud. This Cyber Insurance policy provides financial protection to customers against potential financial fraud ...

The Export-Import Bank of India (Exim Bank) has extended a line of credit (LoC) of USD 500 million to Sri Lanka on behalf of the Government of India on February 03, 2022. The fund will be used by the Island nation for the purchase of petroleum products. With the signing of the LOC agreement for ...