The bi-annual financial stability report noted that failure of an NBFC with the maximum capacity to cause solvency losses to the banking system will lead to a loss of 2.5 per cent of the total tier-I capital of the banking system.
In the worst-case scenario, it will be next to impossible for tech companies like Amazon and Google to run any service that requires user biometrics.
If the Personal Data Protection Bill gets passed in its present form, a new class of companies and entities could emerge. The sole job of these new entities would be to manage the consent for data usage of a user.Banks, healthcare firms and fintech companies, among others, fear that sharing non-personal data with the government may hurt business interests. Banks also fear the threat of data misuse.
Backed by technology banks are expanding the branch network - and adding more to the workforce.
A film-maker has accused Citi India of 'picking up' his idea for their latest ad. But the bank denies this vehemently and has threatened legal action.
The interest offered is mostly 0.5 to 1 per cent more than what other banks offer. Moreover, customer service and long-term association spanning generations are also other reasons for the popularity.
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