Axis Bank is negotiating to acquire between 3,500 and 4,000 ATMs from AGS Transact Technologies due to deteriorating service quality. The bank plans to audit the ATMs before finalizing the deal and transfer the machines to another service provider amidst AGS Transact’s financial troubles.Read More
M Nagaraju, Secretary of the Department of Financial Services, emphasizes leveraging technology and AI to reduce insurance premiums to achieve universal coverage by 2047. Currently, India’s insurance penetration is at 3.7%, below the global average. Actuaries are encouraged to utilize advanced analytical tools to create more affordable and effective insurance products, enhancing transparency and security in the sector.Read More
The dent in its books was caused by a September 2023 RBI communique spelling out how banks should value derivatives. It said all derivatives must be marked to market (MTM), which requires valuing assets and liabilities according to prevailing market price.Read More
According to sources familiar with the matter, the Securities and Exchange Board of India has held back its green light for the much-awaited public issues so far, as share sales by these companies could have inadvertently ended up violating rules that govern unlisted companies.Read More
Zydus Lifesciences said it has received final approval from the US health regulator to manufacture a generic version of Apalutamide tablets used in the treatment of prostate cancerRead More
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