Can Regulation Technology Solve Bank Compliance Challenges Introduction Compliance is a critical function in banks, vital for organizational resilience and stability. However, inadequate compliance can have serious consequences for banks and the financial sector as a whole. This article explores the role of regulatory technology (reg-tech) in addressing banks’ compliance woes. The Importance and Complexity of Compliance Regulatory expectations for banks have increased significantly since the 2008 Global Financial Crisis. These expectations cover a wide […]

How a domestic rating agency wants to take on the big guns. Mumbai: Homegrown Care Ratings Ltd plans to start its sovereign debt ratings service with countries in Asia and Africa, followed by Europe in the long term, a top executive said. The agency, which is creating a subsidiary in GIFT City for the purpose, will start with countries where it already has some presence, such as Nepal, Mauritius, and South Africa. The board of […]

How the health of Indian banks has improved over the past decade Mumbai: On Monday Prime Minister Narendra Modi said the condition of Indian banks and the wider banking sector has improved significantly over the past 10 years, during which the National Democratic Alliance (NDA) has been in power. Domestic lenders have seen bad loans dip over the years and are much stronger than they were a few years ago, thanks to several measures taken […]

‘Small’ isn’t beautiful for small finance banks. Mumbai: Shakespeare may have wondered what’s in a name, but for small finance banks, it perhaps makes a world of difference. Executives of small finance banks (SFBs) have requested Reserve Bank of India (RBI) officials to let them drop the ‘small finance’ tag at a recent meeting, two people aware of the matter said. Dropping the tag will improve branding and customer connect, and attract more current and […]

How to Find and Claim Unclaimed Deposits: RBI’s UDGAM Portal Explained Last updated: March 6, 2024, 4:44 PM By MintGenie Team Do you know you might have money lying around in old bank accounts you’ve forgotten about? The Reserve Bank of India (RBI) has a solution for this – the UDGAM portal. It’s designed to help you identify and claim any deposits that haven’t been touched in 10 years or more. Here’s what you need […]