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The Latest Breaking News from The department of financial services

What will happen to policyholders if a life insurer fails? BJP MP urges PM Modi to create a safety net

In a recent appeal, BJP Rajya Sabha MP Ajeet Madhavrao Gopchade urged Prime Minister Narendra Modi to implement a robust protective system for insurance policyholders. He suggested creating a statutory policyholders' protection scheme as a safeguard against potential insolvencies and bankruptcies among insurers. Drawing from successful international examples, Gopchade recommended…

The Economic Times · Oct 1

Let UPI be! Why fix a payment system that isn’t broken?

S.N.A.F.U. = Situation normal all fouled up.

Newslaundry · Sep 18

No US pressure in UPI MDR decision; NPCI circular offers no advantage to foreign credit cards: FinMin

The Department of Financial Services (DFS) issued the clarification in response to observations in the US Trade Representative's (USTR) 2026 report on the inability of US electronic payment service providers to participate in the UPI ecosystem, including credit transactions on UPI, on a level playing field with RuPay.

The Economic Times · Sep 17

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Bank unions announce strikes on September 11 over unresolved issues

The United Forum of Bank Unions (UFBU), representing over 90% of India’s banking workforce, has announced strikes on September 11 and September 28-30, followed by an indefinite strike from October 26 if its demands are not resolved.

The Economic Times · Sep 1

Govt working on amendments to Actuary Act, 2006: DFS official

The Department of Financial Services is working with the Institute of Actuaries of India to amend the Actuary Act, 2006, a senior Finance Ministry official said on Friday.

The Economic Times · Aug 21

FinMin launches Protection & Indemnity Insurance product under Bharat Maritime Insurance Pool

India's Department of Financial Services launched a new sovereign-backed P&I insurance product. This product is designed by New India Assurance Company under the Bharat Maritime Insurance Pool. The insurance offers financial protection against third-party liabilities up to USD 1.5 billion. The Bharat Maritime Insurance Pool has already provided uninterrupted war…

The Economic Times · Jul 30

HDFC Bank gets RBI nod to appoint Rajiv Kumar as part-time chairman

HDFC Bank received RBI approval for Rajiv Kumar's appointment as part-time chairman. His three-year term as chairman will begin on July 15, 2026. This appointment follows the bank's application and an earlier intimation to the regulator. The bank thanked Keki Mistry for his service as interim chairman. Mistry will continue…

The Economic Times · Jul 15

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Finance Ministry to review PSBs performance today, Secretary Nagaraju will chair high-level meet

The Department of Financial Services is holding a major meeting with Public Sector Banks today. The focus is on strengthening digital banking and combating cyber fraud. Bank leaders will discuss financial health, bad loans, and recovery efforts. The meeting will also cover credit to farmers and small businesses. A new…

The Economic Times · May 29

Trump risks seizures over invalid bond

Judge Arthur Engoron is "going to have very little patience here," predicts ex-assistant NY AG Adam Pollock

Salon · Apr 10, 2024

NY attorney general’s office touts Gemini and DCG lawsuit in renewed push for expanded crypto role

Letitia James is pushing for increased regulatory powers after the Department of Financial Services failed to prevent the collapse of Gemini Earn.

Fortune · Dec 18, 2023

Property insurance fraud investigations and arrests are up but they’re still a drop in bucket

If you want to know why insurance companies often take adversarial positions toward homeowner claims, look no further than the number of fraud cases investigated each year.

Tribune News Service · Jun 27, 2023

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