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RBI's subsidiary DICGC says, "Depositors in failed and liquidated bank to get only Rs 1 lakh as insurance cover"

Depositors in failed and liquidated banks will get only up to Rs 1 lakh as insurance cover, regardless of the amount in their accounts,...

Sitaram Yechury: Narendra Modi Government must bring a white paper on the status of Indian economy

CPI(M) general secretary Sitaram Yechury on Wednesday demanded that the government bring out a white paper on the status of the economy referring to...

Reports: Indian education institutions attacked most by hackers

Education domain is one of the most "at-risk" industries in India, with the sector accounting for more than 30 percent of cyber threats targeting...

NIUM launches its cross-border payments platform in Indonesia

With the attempt to strengthen its position in Southeast Asia’s cross-border payment space. NIUM (a formerly known as InstaReM) on Wednesday, said that “It...

Bank Of England keeps its interest rate at 0.75%, alters UK growth forecasts at 1.4% for 2019

The Bank of England (BoE) has left its main interest rate at 0.75 percent, it said on November 7 after a regular meeting and...

Finance Minister Nirmala Sitharaman reviews the state of the economy at FSDC meeting

Finance Minister Nirmala Sitharaman on Thursday reviewed the state of the economy, including stress in the financial sector at the meeting of the Financial...

RBI Deputy Governor Viral Acharya: Govt of India needs to undertake heavy disinvestment programme

The Indian government needs to reduce its reliance on bond markets and undertake a heavy disinvestment programme along with urgently implementing land, labour and...

Pakistan’s PIA operates 46 flights without a passenger during 2016-17

Pakistan International Airlines (PIA) has operated 46 flights without a single passenger from Islamabad Airport in 2016-17. Citing to an audit report, Pakistan’s media agency...

InstaReM starts digital money transfer service in Canada

Solidifying the company’s presence in North America. Singapore -based cross-border digital payment company, InstaReM has announced the launch of cost-effective digital cross-border payments transfer...

Government scraps 5 percent import duty on open cell TV panel

In a bid to boost domestic manufacturing, the government has removed 5 per cent custom duty imposed on import of open cell TV panel,...

London Stock Exchange to acquire Refinitiv for $27 billion

The London Stock Exchange Group said on Friday it was in discussions to acquire financial data analytics provider Refinitiv Holdings for $27 billion, including...

Indian junk bonds make a big comeback in 2019

Sales of Indian junk bonds have made a big comeback in 2019, almost tripling to hit a five-year high, boosted by a risk-on rally...

Nissan Motors files criminal complaint against ex-boss Carlos Ghosn

Nissan Motor said on Monday it had filed a criminal complaint against former Chairman Carlos Ghosn related to an aggravated breach of trust under...

SoftBank is picking its battles with US national security board

SoftBank Group Corp has agreed to give up board seats and access to sensitive information, take a more passive role in startups and make...

China’s economic growth in 2019 is expected to slow by 6.2% despite policy support

China's economic growth is expected to slow to a near 30-year low of 6.2 percent this year, a Reuters poll showed on April 12,...

SBI raised Rs 1,251 crore through Basel III-complaint bonds

One of India's largest public bank, State Bank of India has raised Rs 1,251.30 crore from Basel III-complaint bonds. In a regulatory filing on Friday,...

Exim Bank grants $83 million in loans to Congo to finance three solar power projects in Central Africa

Exim Bank on March 19 said it has given a loan of $83.11 million to Congo to finance three solar power projects in the...

Saudi Arabia to receive $20 Billion in passive inflows

Saudi Arabia's inclusion in major emerging markets stock indices from March 18 is likely to suck in around $20 billion in passive inflows, but...

Finance Minister Asad Umar: Pakistan fails to lock $3.2 billion oil payment facility from UAE

Cash-strapped Pakistan has failed to secure a USD 3.2 billion oil on deferred payments facility from the UAE, a media report Thursday quoted Finance...

Infosys Finacle to develop cross-border trade finance network for Hatton National Bank

Sri Lanka's leading private bank Hatton National Bank (HNB) on Wednesday announced that "It has partnered with Infosys Finacle Trade Connect, a part of...

RBI fines ICICI Bank, SBI and 17 other banks for non-compliance use of SWIFT Network

The Reserve Bank of India (RBI) has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India,...

Pakistan may ask for an additional $1.45 billion loan from Islamic banks

Pakistan will likely turn to Islamic banks to borrow another 200 billion rupees ($1.45 billion) to try to ease a financial crunch in its...

China blames Washington for trying to block its development

China's government on Monday accused the United States of trying to block its industrial development after Vice President Mike Pence said Chinese equipment poses...

Fintech startup NIRA secures $1Mn in seed round funding

An India based Fintech startup NIRA, on Tuesday announced that "It has secured $1 million in seed round funding from angel investors in India...

FinTech startup IndWealth secures $30 million from Steadview Capital

Ashish Kashyap, Former CEO of Ibibo on Monday announced: "his new venture IndWealth has secured $30 million from Steadview Capital." The company in a statement...

Alibaba opens two new data centers in Europe, aims to boost its Cloud Business

To increase the presence of Cloud business in Europe, Alibaba on Monday announced that "It has opened the two new data centers in U.K." The...

RBI Introduces Further Measures to Increase Credit Flow to NBFCs

"The move will help provide liquidity to housing finance companies (HFCs) and non-banking finance companies (NBFCs) that have come under pressure following a series...

Truecaller Partners with Bank of Baroda, Aims to Strengthen Digital Payment Services

With an aim to strengthen its hold over the Indian mobile payment space, the Sweedish caller identification app True Caller has partnered with Bank...

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