CAMS brings you a weekly glimpse into the key news in the BFSI sector, both in India and abroad. Regulatory updates or important news, here are some which might have had an impact on the sector…
While emerging nations seem to be capturing the lion’s share of the manufacturing and technology sectors, the global financial hubs are still seen to be either London or New York. Istanbul is soaring to the top of the table and is set to overtake them soon…
User friendly features are set to improve long-term retirement planning products. Faster balance checks and withdrawal from PF accounts, flexible withdrawal and more tax benefits in NPS are just a few.
India Post will soon start operations of the India Post Payment Bank. This development comes after several Indian and foreign financial institutions requested for a tie-up with the state-owned postal department.
An RBI set up committee has suggested that all credit accounts need to be linked to a unique biometric identifier such as the Aadhar, to help identify multiple loan accounts and prevent borrowers from being over-indebted.
The RBI has stated that every village with a population of over 5000 should have a bank branch by March 2017. The regulator has asked the State Level Bankers’ Committee to identify such villages in each state.
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