Department of Financial Services

Department of Financial Services News

25 Dec 2023

Claiming Mediclaim Benefits To Be Easy Soon: Here's The Reason

The matter in question revolves around the denial of medical claims by insurance companies when policyholders undergo surgery or treatment without being hospitalized for a minimum of 24 hours.

RBI

08 Sep 2017

Close down Dept of Financial Services, says Raghuram Raja

Rajan also expressed displeasure at the working of the Banks Board Bureau (BBB), and pitched for having banks run by independent boards and not the finance ministry.

Revenue collection

26 Jul 2017

Declining telcos revenue may impact govt collections: Manoj Sinha

Revenue collection from telecom services in form of license fee and spectrum usage charges may be adversely impacted in the current fiscal if sales revenue of operators continues to decline, Union minister Manoj Sinha said on Wednesday.

Demonetisation

25 May 2017

Post-note ban 12.54 lakh PoS terminals added in Q4

Post the November 8 demonetisation measure, 12.54 lakh Point of Sale (PoS) terminals have been added during the fourth quarter of the last fiscal ended March to facilitate more digital transactions, the government has said.

Labour Ministry

26 Nov 2016

Govt to launch campaign to open workers' bank accounts today

Labour Ministry will launch a campaign in association with Department of Financial services to open bank accounts of workers, who do not have one till date, in the organised as well as unorganised sector on Saturday.

Kotak Mahindra shares

16 Jun 2015

Kotak Mahindra shares end flat

After falling 2 percent to Rs 1,263.75, shares of Kotak finally ended at Rs 1,290.90, up 0.09 percent on the BSE.

Kotak Mahindra

16 Jun 2015

Kotak Mahindra Bank shares down 2%

The stock slipped 1.83 percent to Rs 1,266 at the BSE.

FIPB

15 Jun 2015

FIPB again defers Kotak bank proposal for raising FII limit

The Foreign Investment Promotion Board (FIPB) had taken up the application in its meeting, but the decision was deferred in want of comments from the Department of Financial Services (DFS), sources said.

Loans to small businesses

12 Jun 2015

Loans to small businesses may double to Rs 1lakh cr: Jaitley

Officials from the Department of Financial Services (DFS) updated the Finance Minister on the subsequent steps taken in this regard following the setting up of MUDRA Bank.

PSU bank

05 May 2015

Appointment of 5 PSU bank heads: SC seeks Centre's response

The Supreme Court Tuesday sought responses from the Centre and Reserve Bank of India on a PIL challenging the appointment process of heads of five public sector banks and reducing the cut-off age from 58 to 55 years.

PSU banks

26 Apr 2015

Govt renews search for five PSU bank chiefs; norms relaxed

As it continues its search for chiefs at five public sector banks, the government has relaxed eligibility criteria with regard to age and experience of applicants.

Deutsche Bank

23 Apr 2015

Deutsche Bank to pay $2.5 bn fine for interest rate-rigging

Deutsche Bank has agreed to pay a $2.5-billion fine to settle US and British accusations that more than 20 employees engaged in a "widespread effort" to rig benchmark interest rates for profit between 2005 and 2009, officials said on Thursday.

Jan Dhan Yojana

18 Nov 2014

74% accounts in Jan Dhan Yojana are with zero balance

The data provided by Department of Financial Services says that as on November 7, 2014 a total of 7.1 crore bank accounts have been opened of which 5.3 crore were accounts with 'Zero balance'.

Standard Chartered

19 Aug 2014

Standard Chartered fined $300 mn over laundering controls

New York's banking regulator hit Standard Chartered Bank with a USD 300 million fine and restrictions on its dollar-clearing business Tuesday for inadequate controls on money laundering.

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