Startups target banks’ small business customers in forex payments drive

Startups target banks’ small business customers in forex payments drive

LONDON (Reuters) – Revolut and TransferWise are signing up thousands of small businesses a month for foreign exchange payments, touting slicker service and lower fees as they try to take on banks in a sector with flows of $7 trillion...
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GJEPC asks banks to adopt its KYC databank to finance diamond trade

GJEPC asks banks to adopt its KYC databank to finance diamond trade

Mumbai: Gem & Jewellery Export Promotion Council (GJEPC), a nodal trade body sponsored by the commerce ministry, is pursuing banks to adopt its online know your-customer databank of 2,500 exporters as a means to mitigate risk and improve lenders’ per...
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Indian money in Swiss banks rises 50% to over Rs 7,000 crore

Indian money in Swiss banks rises 50% to over Rs 7,000 crore

Money parked by Indians in Swiss banks rose over 50% to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India’s clampdown on suspected black money stashed there. In comparison, the total funds held by...
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Insurer Aviva India Turns To PSU Banks On Recapitalisation Plan Boost

Insurer Aviva India Turns To PSU Banks On Recapitalisation Plan Boost

Aviva Plc’s India life insurance joint venture is raising its exposure to the country’s state-run banks as it bets the government’s $32 billion plan to rescue lenders burdened with record bad loans will boost their prospects. The insurer also...
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More devt banks need to join hands with ISA to promote renewable energy: Jaitley

More devt banks need to join hands with ISA to promote renewable energy: Jaitley

Finance Minister Arun Jaitley on Thursday said more and more multilateral institutions and development banks need to join hands with the International Solar Alliance (ISA) to promote renewable energy. He was speaking at the signing of Joint Financial Partnersh...
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Bad loans and stressed assets in banks estimated at Rs 10 trillion

Bad loans and stressed assets in banks estimated at Rs 10 trillion

Bad loans and stressed assets in Indian banks are estimated at Rs 10 trillion ($153.49 billion), Chief Economic Adviser Arvind Subramanian said on Wednesday. India announced on Tuesday a Rs 2.11 trillion recapitalization plan for its state-owned banks over the...
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