Mumbai, May 7 (IANS) India’s economy is growing well and the banking sector remains stable despite global and domestic challenges, M. Nagaraju, Secretary of the Department of Financial Services (DFS), Ministry of Finance, said on Thursday.Speaking at the Indian Banks’ Association’s (IBA) inaugural Summit on Risk Management held here, Nagaraju said risk management in banks must be treated as a strategic responsibility and embedded across all functions of the banking system.”Despite various challe…
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New Delhi, April 24 (IANS) Finance Minister Nirmala Sitharaman on Friday said that Indian banks are adequately prepared to deal with emerging technology-related challenges, even as she raised fresh concerns over risks linked to a new artificial intelligence model developed by Anthropic.Speaking to reporters, FM Sitharaman noted that India is closely monitoring the potential threats posed by Anthropic’s Mythos AI model, which has drawn global attention for its advanced capabilities.The finance …
New Delhi, Jan 27 (IANS) Bank employees across the country went on strike on Tuesday to protest for their demands, including the immediate implementation of a five-day work week in the sector, leading to widespread disruption of banking services, including cash deposits, withdrawals, cheque clearances and other routine transactions. The nationwide strike was called by the United Forum of Bank Unions (UFBU).In Gujarat’s Vadodara, employees of nationalised banks joined the strike in large numbers….
New Delhi, Jan 27 (IANS) Public sector banking operations are likely to be disrupted on Tuesday as bank employee unions called for a nationwide strike, demanding a five-day work week. Private banks, however, will not be affected by the day-long strike.Several public sector banks have already informed stock exchanges about the possible impact of the strike.The United Forum of Bank Unions (UFBU) went ahead with its nationwide strike. The UFBU is a joint platform of nine unions representing officer…
New Delhi, Jan 26 (IANS) Banking operations at public sector banks across the country are likely to be disrupted on Tuesday as the United Forum of Bank Unions (UFBU) goes ahead with its nationwide strike demanding a five-day work week.The decision to strike was taken after a conciliation meeting with the Chief Labour Commissioner on January 23 failed to resolve the issue.The UFBU is a joint platform of nine unions representing officers and employees of public sector banks.The timing of the strik…
New Delhi, Jan 24 (IANS) Major bank employee and officer unions in India have announced a nationwide strike on January 27 to press for the introduction of a five-day work week in the banking sector. The strike will begin at midnight on January 26 and continue until midnight on January 27, potentially affecting banking services across the country, according to NDTV Profit report.The strike notice has been issued by the United Forum of Bank Unions (UFBU), a joint platform representing nine bank un…
New Delhi, Jan 13 (IANS) India is working to expand the global reach of its homegrown digital payment system, Unified Payments Interface (UPI), to more countries, with a special focus on East Asia, Financial Services Secretary M Nagaraju said on Tuesday.Speaking at the Global Inclusive Finance India Summit here, Nagaraju said UPI has played a key role in driving India’s digital payments growth and now accounts for nearly 50 per cent of all digital transactions in the country.He added that the …