Page-20 of Economy of India

HDFC Mutual Fund becomes India’s largest Asset Management Company

HDFC Mutual Fund has surpassed ICICI Prudential MF to become the India’s largest Asset Management Company (AMC). As per the latest data available with Association of Mutual funds in India (Amfi), HDFC MF manages assets worth Rs 3.35 lakh crore, ..

Hemant Bhargava appointed acting Chairman of LIC

Hemant Bhargava, the senior-most MD at LIC, has been appointed acting Chairman of LIC. The move comes after VK Sharma retired from the top job at LIC on 31st December 2018. In order to select new chairman and one MD, ..

Union cabinet approves merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB)

On 2nd January 2019, the Union Cabinet approved the merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB). With the merger, BoB will become the third largest bank after State Bank of India and ICICI Bank. The ..

ESAF Small Finance Bank (SFB) getsRBI nod to operate as a scheduled bank

As per 2nd schedule of the RBI Act of 1934, the ESAF Small Finance Bank (SFB) Ltd has got approval from Reserve Bank of India (RBI) to operate as a scheduled bank. This makes ESAF the fifth scheduled bank from ..

Bimal Jalan is head of RBI committee to review existing Economic Capital Framework

The Reserve Bank of India (RBI) has constituted an expert committee, headed by its former governor Dr. Bimal Jalan, to review the existing Economic Capital Framework (ECF). The purpose of the committee is to suggest how the central bank should ..

Consumer Protection Bill 2018 passed in Lok Sabha to strengthen rights of consumers

The Consumer Protection Bill 2018 has recently passed in Lok Sabha to strengthen the rights of consumers and to provide a mechanism for redressal of their complaints regarding defects in goods and deficiency in services. It seeks to establish Consumer ..