At present, the bank's efforts are focused on ensuring that a product or service gets sold easily, while under the new set up, the emphasis will be on the experience which a customer enjoys during the process, he said.
At present, the bank's efforts are focused on ensuring that a product or service gets sold easily, while under the new set up, the emphasis will be on the experience which a customer enjoys during the process, he said.
Bank credit growth accelerated to 14.2 per cent in the quarter ended June 2022 from 6 per cent in the same period of the previous year, RBI data showed on Thursday. In June 2022, C-D ratio stood at 73.5 per cent at all-India level (70.5 per cent a year ago) and 86.2 per cent for metropolitan branches of banks (84.3 per cent a year ago).
The search giant is in the process of introducing stricter policies for listing loan offering apps on the Play Store, said Saikat Mitra, a senior director and the head of trust and safety at Google in the Asia Pacific.
Under the new rules, Indian entities can make investments in foreign companies that have Indian subsidiaries provided the whole investment structure doesn't have more than two layers. Now, there are two interpretations about how the layers will be counted, experts said.
The Finance Minister said that under the tax devolution, the state got Rs 13,782 crore in 2014-2019 from the center while it received Rs 3,844 crore in 2009-2014.
Last year, the RBI had barred three US-based card networks - MasterCard, American Express and Diners Club International - from issuing new cards in India as these companies were perceived to be noncompliant with local data storage rules.
Last year on April 23, 2021, the regulator had imposed restrictions on American Express from on-boarding new domestic customers onto its card network from May 01, 2021 for non-compliance with the RBI circular on on Storage of Payment System Data.
Explaining the situation, he said the Indian banks had adopted the British model, and the laws don't allow lenders to borrow from the capital market, which essentially makes deposits the only source of funds.
Cost of mobile does not include Goods and Services Tax (GST). At present, the GST rate on mobile phones is 18 per cent. The revised norms are applicable from April 1, 2022 as per the decision of the board of the bank, sources said.