Festival season to give boost to retail credit demand

Banks, fintech lenders working on special schemes from Business Line - Money & Banking https://ift.tt/3z7Kq...

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Stripe is discussing public listing for 2022 with bankers

Stripe raised $600 million in March at a valuation of $95 billion. That makes it the most valuable US startup and one of the biggest globally alongside TikTok parent ByteDance from Banking/Finance-Industry-Economic Times https://ift.tt/3EhWJ...

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Things should return to normal with economy back on track: Bajaj Allianz General chief Singhel

GST cut on health insurance, regulator for hospitals can strengthen healthcare ecosystem from Business Line - Money & Banking https://ift.tt/3nnKL...

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SBI and Bandhan Bank planning to move their back office verticals to fintech hub of Kolkata

As many as 28 financial institutions and legal firms have already taken land in the fintech hub, for which foundation stone was laid in 2012, one year after Mamata Banerjee came to power ending three decades of Left rule. from Banking/Finance-Industry-Economic Times https://ift.tt/2YMtT...

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Punjab National Bank's board approves raising ₹6,000 crore

To raise funds through issue of bonds from Business Line - Money & Banking https://ift.tt/3lbqZ...

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Fintechs are paving path for greater financial inclusion in India

Fintech organizations have a wide scope of business in India, particularly around payment lending, personal finance management, and regulation technologies. from Banking & Finance – The Financial Express https://ift.tt/3A0gE...

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Kotak Mahindra Bank to offer home loans at 6.5% through festive season

Ambuj Chandna, president – consumer assets, Kotak Mahindra Bank, said that at 6.5%, the lender’s pricing will be significantly more attractive than that of some of its competitors. from Banking & Finance – The Financial Express https://ift.tt/3Adhz...

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Bank will expand exposures on lower-rated, unsecured segment with proper due-diligence: AK Goel, MD & CEO, Uco Bank

PCA had not put restrictions on lending to big ticket size loan, except some restriction on low rated customers, unsecured loans, exposure in non-fund based business. from Banking & Finance – The Financial Express https://ift.tt/3EdiC...

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'Banks' profitability hit on shrinking interest margin amid tech adoption burden, falling rates'

"I think the Reserve Bank has not changed the repo and reverse repo since May 2020 and they have been having the accommodative stance. Accordingly, the lending rates are low, deposit rates are also low. So, the NIM (net interest margin) of the banks is shrinking," Manju S Bolakani, chief general manager of State Bank of India (SBI), said. from Banking/Finance-Industry-Economic Times https://ift.tt/3jW5p...

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Ujjivan Financial Services appoints Sanjeev Barnwal as chief executive officer

His appointment will come into effect from Friday (September 10, 2021). Ujjivan Financial said Barnwal will continue to be the company secretary (CS) and key managerial personnel (KMP) of the company. from Banking/Finance-Industry-Economic Times https://ift.tt/38R7H...

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Banks' NPAs stable in June quarter, look manageable; IBC needs improvement: RBI Governor Shaktikanta Das

RBI Governor Shaktikanta Das said banks have capital buffers of over 16 per cent while the same for NBFCs is at 25 per cent, which are much above the regulatory mandates, and will help fight with any stress. from Banking/Finance-Industry-Economic Times https://ift.tt/3laTE...

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ICICI Lombard ceases to be ICICI Bank subsidiary post Bharti AXA merger

The scheme of arrangement between Bharti AXA and ICICI Lombard came into effect on September 8, 2021. ICICI Lombard has allotted a total of 35,756,194 equity shares of the company to Bharti AXA shareholders -- Bharti General Ventures (18,235,659) and Societe Beaujon (17,520,535). from Banking/Finance-Industry-Economic Times https://ift.tt/3BTfX...

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ICICI Lombard ceases to be a subsidiary of ICICI Bank

This follows the allotment of equity shares of ICICI Lombard to the eligible shareholders of Bharti AXA from Business Line - Money & Banking https://ift.tt/38Saw...

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Time taken to admit a case to NCLT needs to come down, says RBI Governor

Shaktikanta Das feel there is a need for certain legislative amendments from Business Line - Money & Banking https://ift.tt/2VvMA...

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RBI develops escalation matrix for redressal of complaints of SGB investors

The nodal officer of the Receiving Office will be the first point of contact for attending to the queries/complaints from Business Line - Money & Banking https://ift.tt/3BVNV...

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Supreme Court stays NCDRC order on payment of Rs 30 lakh by HDFC bank to customer

Senior advocate Meenakshi Arora, appearing for the HDFC bank, said that the man had opened his account with the bank and he was given a net banking facility with the kit provided to him. from Banking/Finance-Industry-Economic Times https://ift.tt/3tq8E...

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NBFCs securitisation volumes pick up in Q1

Combined Securitisations volumes through both pass through certificates and direct assignments rose 2.3 times from Rs7500 crore in Q1 2020-21 to Rs 17200 crore Q1'2021-22. But the share of mortgaged backed securities rose from 26 per cent to 59 per cent in the same period. from Banking/Finance-Industry-Economic Times https://ift.tt/3A16P...

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Bitcoin may hit $100,000 by early next year: Standard Chartered

The bank also said it "structurally" valued Ethereum, the second-most traded crypto asset, at $26,000-$35,000 although to reach that level bitcoin would have to be near $175,000. from Banking/Finance-Industry-Economic Times https://ift.tt/3l8Hr...

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Axis Bank lists $600 million Sustainable $AT1 notes on India INX and NSE IFSC at GIFT City

‘It shows Axis Bank’s commitment to the government’s vision of developing GIFT City as an Internal Financial Centre of repute’ from Business Line - Money & Banking https://ift.tt/3leBz...

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Adani Green Energy lists $750 million green bonds

The bonds have a maturity of three years with a coupon rate of 4.375 per cent from Business Line - Money & Banking https://ift.tt/2Vrmv...

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Festival season offer: Kotak Mahindra Bank reduces home loan rates by 15 bps to 6.5%

The focus will be on both salaried and self-employed customers. from Business Line - Money & Banking https://ift.tt/3jWmG...

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HomeLane raises ₹370 crore for expansion, branding

With the current round, HomeLane has raised about ₹765 crore in the last seven years from Business Line - Money & Banking https://ift.tt/3yWFI...

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Indian banks bounce rates lowest since Covid began

Bounce rates rates tracked by NPCIs e-NACH platform came in at 33.0% and 26.8% by volume and value respectively for the month of August. In July these figures were at 33.2% and 27.4% by volume and value. This was down from a high of 35.9% and 30.7% in volume and value, registered in the month of May. from Banking/Finance-Industry-Economic Times https://ift.tt/2WZ7B...

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How credit, debit card customers benefit from the latest RBI amendment on tokenisation

from Banking/Finance-Industry-Economic Times https://ift.tt/2X1YS...

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Social commerce platform Coutloot raises $8 million from Ameba Capital, 9Unicorns and others

The new funding is a precursor to a bigger $25 million round to be closed soon, the company said from Business Line - Money & Banking https://ift.tt/2X0Fh...

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Global index inclusion to bring turning point for India, says Morgan Stanley

The global bond inclusion will push India’s balance of payments into a structural-surplus zone, indirectly create an environment for a lower cost of capital and ultimately be positive for growth, it says from Business Line - Money & Banking https://ift.tt/3hc6q...

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Bitcoin investors buy the dip as roller-coaster ride continues

Experts attributed the 'flash crash' to a lack of liquidity in crypto markets, which could give disproportionate power to large holders, and the fact that crypto markets are sentiment-driven and lack proper regulation. from Banking/Finance-Industry-Economic Times https://ift.tt/3hftj...

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South Indian Bank launches credit card with fintech company OneCard

The internationally valid credit card on the Visa Signature platform can be fully controlled through the powerful OneCard app. from Banking & Finance – The Financial Express https://ift.tt/3DTW8...

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RBI removes UCO Bank from Prompt Corrective Action framework

The RBI said the lender has provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage from Banking & Finance – The Financial Express https://ift.tt/3hhao...

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Industry view: Tokenisation circular modifications give banks more control over card data

The tokenisation or encryption of card data shall be done with explicit customer consent with an additional factor of authentication (AFA) validation by the card issuer. from Banking & Finance – The Financial Express https://ift.tt/3E27w...

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Karnataka Bank launches all-in-one swiping machine for MSME customers

Bank’s MD & CEO Mahabaleshwara MS said the compact, lightweight and user-friendly device will be a game changer and transform the digital payment ecosystem associated with PoS machines. from Banking/Finance-Industry-Economic Times https://ift.tt/3BOkl...

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BoB launches revamped mobile banking app ‘bob World’

The app encompasses all digital banking services and products from Business Line - Money & Banking https://ift.tt/38M6l...

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Fisdom forays into tech-led HNI wealth space

Appoints Abhijit Bhave as CEO of new venture from Business Line - Money & Banking https://ift.tt/3nd1D...

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Amazon Pay also set to help users book deposits, even as GPay service under RBI watch

Amazon Pay India on Wednesday announced a tie-up with investment platform Kuvera.in through which the former’s customers will be able to invest in mutual funds and fixed deposits from Business Line - Money & Banking https://ift.tt/3haZM...

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CollegeDekho raises $26.5 million funding from Winter Capital, ETS, Man Capital

The company plans to use the proceeds to further improve its offerings for students and colleges, increase its investment in product and technology among others from Business Line - Money & Banking https://ift.tt/3tq8J...

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India's fintech market to triple to Rs 6.2 lakh cr by 2025: MoS Finance Karad

India provides a great ecosystem for Fintech development like access to bank accounts under the PM Jandhan Yojana, digilockers and scalable platforms including UPI. from Banking/Finance-Industry-Economic Times https://ift.tt/3zWYk...

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Amazon ties up with Kuvera, set to offer wealth management service for the first time

​The big moves by the two global giants is a hint towards a changing landscape in the Indian financial services space which is attracting the best. The size of this market is 1.4 billion population. from Banking/Finance-Industry-Economic Times https://ift.tt/3ndBn...

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India considering foreign institutional investment of up to 20% in LIC IPO: Report

The listing of LIC is set to be India's biggest ever IPO. from Banking/Finance-Industry-Economic Times https://ift.tt/3yOK7...

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Harsha Bangari takes charge as Exim Bank chief

Prior to her elevation as MD, Bangari was the Deputy Managing Director of the bank from Business Line - Money & Banking https://ift.tt/3DQXg...

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Neeraj Chopra, Olympic gold medalist signs first brand endorsement with Tata AIA Life

Ongoing pandemic emphasises on need for life and health insurance from Business Line - Money & Banking https://ift.tt/2X3Gv...

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RBI approves re-appointment of Vaidyanathan as IDFC FIRST Bank chief

The re-appoint is for three years. from Business Line - Money & Banking https://ift.tt/3zSYE...

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NPCI and Fiserv launch ‘nFiNi’ programme

To enable fintechs to co-create bank sponsored credit cards from Business Line - Money & Banking https://ift.tt/3DXG4...

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Yes Bank MD Rana Kapoor ignored warnings on DHFL deal, says CBI

The jailed banker also took undue personal interest in risky investments in Dewan Housing Finance Limited (DHFL), resulting in huge losses. from Banking/Finance-Industry-Economic Times https://ift.tt/3A5ZR...

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Using your debit card without network? It will soon be possible

Ever got stuck in a network breakdown while making a payment? Visa may soon have new debit cards that allow people to make transactions up to Rs 2,000 without connectivity, says a TOI report. from Banking/Finance-Industry-Economic Times https://ift.tt/3nbIj...

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T+1? Your stock trade settlement is set to get quicker

The Securities & Exchange Board of India is considering a reduction in the settlement cycle for completion of share transactions to T+1 — an abbreviation for ‘trade plus one day’ — says this ET report . This is a faster trade settlement system for stocks from the existing T+2. from Banking/Finance-Industry-Economic Times https://ift.tt/38PhO...

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Ashish Kehair promoted to MD & CEO of Edelweiss Wealth Management in place of Nitin Jain

Ashish Kehair was the head of the wealth management division since 2017. In that role, he has been responsible for expanding assets under advisory since joining. He has previously held executive positions with IDFC Bank and ICICI Securities. from Banking/Finance-Industry-Economic Times https://ift.tt/3E00G...

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Gigforce raises $3 million in pre-Series A from Endiya Partners, Unitus Ventures

The company plans to strengthen its team and technology and rapidly scale pan-India in the next few quarters from Business Line - Money & Banking https://ift.tt/2WWSm...

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Indians follow Ethereum to stratosphere

Over the last few years, Indians have mostly bought bitcoin, the biggest and the most well-known of the cryptocurrencies. They are now hedging bets and buying others, leading to a spurt in volumes at exchanges. from Banking/Finance-Industry-Economic Times https://ift.tt/3DVb2...

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RBI tweaks guidelines for card-tokenisation services

‘Tokenisation of card data shall be done with explicit customer consent’ from Business Line - Money & Banking https://ift.tt/3nepD...

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CBI puts on hold probe into Rs 50,000 crore frauds related to public sector banks as states refuse consent

The CBI is also awaiting intimation on request to investigate 20 cases of disproportionate assets (DPA) allegedly amassed by central government employees. The CBI is the only federal agency to probe corrupt officials attached to central departments like the income tax, customs, GST and public sector undertakings. from Banking/Finance-Industry-Economic Times https://ift.tt/3BO2m...

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NPCI, Fiserv to open RuPay API platform

They said the collaboration will help faster and cheaper onboarding of customers and merchants by banks as well as enable fintech firms to build out new models of digital interfaces for customers launching RuPay credit card products. from Banking/Finance-Industry-Economic Times https://ift.tt/2X0kd...

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Surplus liquidity, firm demand of MF drive down yields on CPs

As of September 7, yields on CPs issued by non-banking finance companies (NBFC) maturing in three months were hovering between 3.50% and 3.65%, and those on papers issued by manufacturing companies were trading between 3.35% and 3.50%. from Banking & Finance – The Financial Express https://ift.tt/3jTxR...

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RBI enhances scope of tokenisation to ensure security of card data

"...card issuers have been permitted to offer card tokenisation services as token service providers. The tokenisation of card data shall be done with explicit customer consent requiring additional factor of authentication (AFA)," the RBI said in a statement while extending device-based tokenisation framework to CoFT services. from Banking/Finance-Industry-Economic Times https://ift.tt/3zNYR...

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‘Merchant business will always remain our core’

Want to launch digital-first small finance bank across SME and retail consumers: BharatPe CEO from Business Line - Money & Banking https://ift.tt/3jPYk...

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Quality of banks' retail loans dips, India Ratings projects total gross NPA at 8.6% for FY22

The rating company’s NPA estimate is much more benign than 9.8% projected by Reserve Bank of India’s Financial Stability Report even as it expressed concerns over significant stress on banks’ retail and MSME loan books. It projected overall stressed assets at 10.3% for FY22 expecting provisioning cost to rise to 1.9% from its earlier estimate of 1.5%. from Banking/Finance-Industry-Economic Times https://ift.tt/3jOoi...

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India Ratings maintains stable outlook on banking sector in FY22

"We have maintained a stable outlook on the overall banking sector for the rest of FY22, supported by the continuing systemic support that has helped manage the system-wide COVID-19 linked stress," the rating agency said in its mid-year banks outlook released on Tuesday. from Banking/Finance-Industry-Economic Times https://ift.tt/2WUqL...

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India Post Payments Bank, LIC Housing tie up to sell home loans

Through its robust and extensive network of 650 branches and more than 136,000 banking access points, IPPB will make LIC Housing Finance Ltd's (LICHFL) home loan products accessible to its customers pan-India, the statement said. from Banking/Finance-Industry-Economic Times https://ift.tt/3z1ow...

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BoI enters into co-lending tie-up with MAS Financial Services

Under this arrangement, funds are made available to the ultimate beneficiary at an affordable cost from Business Line - Money & Banking https://ift.tt/3n6oK...

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Heightened stress in retail, MSME segments due to Covid could weigh down banks, cautions Ind-Ra

However, rating agency maintains stable outlook on overall banking sector for FY22 from Business Line - Money & Banking https://ift.tt/3n8By...

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IPPB, LICHFL tie-up for home loans

All home loans’ credit underwriting, processing, and disbursement will be handled by LICHFL, with IPPB responsible for sourcing. from Business Line - Money & Banking https://ift.tt/3nf2J...

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HDFC Bank signs MoU with NSIC to offer credit support to MSMEs

It will also accept loan applications forwarded by NSIC and consider sanctioning loans on merit basis and as per its lending norms from Business Line - Money & Banking https://ift.tt/3n40z...

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India’s banking sector survives covid scare but needs to address these challenges now

Over the last 7 years the NDA government has been infusing capital into the public sector banks using recapitalization bonds. However, following COVID and the expectations from the Union Budget 2021-22, liquidity has become a huge issue. from Banking & Finance – The Financial Express https://ift.tt/3naDy...

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Interior-design startup Flipspaces raises $2 million from investors

The round saw participation from family groups and High Net Worth Individuals (HNIs) from Business Line - Money & Banking https://ift.tt/2X4PU...

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Third-party apps turn on UPI autopay mode

Autopay allows users to make recurring transactions below Rs 5,000 through UPI apps. Most of these currently take place through card-based mandates that are more sophisticated, and settlements more expensive. from Banking/Finance-Industry-Economic Times https://ift.tt/3BOOj...

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Global crypto exchange CrossTower enters India despite policy uncertainty

CrossTower India has already hired 35 people and plans to increase headcount to 100 in six to nine months from Business Line - Money & Banking https://ift.tt/3hbjW...

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IDBI Bank-led consortium seeks EoIs to sell exposure to IVRCL road asset

IVRCL was among the companies named by the Reserve Bank of India (RBI) in 2017 in its second list of bad assets to be resolved under the insolvency code. from Banking & Finance – The Financial Express https://ift.tt/3hbgG...

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DHFL: SC asks NCLAT to wrap up 63 Moons’ appeal against Piramal Group in 2 months

Refuses to stay operation of resolution plan in the interim from Business Line - Money & Banking https://ift.tt/2WYTQ...

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Liquidity position of NBFC sector is improving: JM Financial MD

The biggest lesson from the pandemic is to have a strong balance sheet. A strong balance sheet with healthy debt-to-equity ratios can absorb higher provisioning and will allow access to liquidity even in challenging markets. from Banking/Finance-Industry-Economic Times https://ift.tt/3DRkI...

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Axis Bank introduces policies for employees and customers from LGBTQIA+ community

Under this policy all employees can list their partners for mediclaim benefits irrespective of gender, sex or marital status. It has also put in place a Human Rights Policy that offers redressal to challenges faced by employees from this community. from Banking/Finance-Industry-Economic Times https://ift.tt/2WX6t...

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Equitas Small Finance Bank eyes 25% growth in advances this fiscal

Hopeful to maintain this tempo if no other disturbances such as third Covid wave were to happen, says MD & CEO Vasudevan from Business Line - Money & Banking https://ift.tt/3kZ4A...

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Scrappage policy to give a boost to used CV financing plans: Indostar Capital

Believes sector has the potential to grow 10 times in the next five years from Business Line - Money & Banking https://ift.tt/3kRCy...

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Tamilnad Mercantile Bank files papers with SEBI for IPO

Proceeds to be used for augmenting its tier I capital base. from Business Line - Money & Banking https://ift.tt/3DTWT...

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CreditAccess Grameen gets into expansion mode

“Time has come to take a position for the future,” managing director Udaya Kumar Hebbar told ET in an interview. “How long can we hold back growth? The experience of the first wave and second wave (of the pandemic) gives us the confidence to navigate through future stress, if any.” from Banking/Finance-Industry-Economic Times https://ift.tt/38HWT...

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Tamilnad Mercantile Bank files IPO papers with Sebi

To utilise proceeds towards augmenting its tier–I capital base from Business Line - Money & Banking https://ift.tt/3zO3g...

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Orange Retail Finance eyes to disburse loans worth ₹1,000 crore

NBFC hopes to grow amid signs of pent-up demand for credit in the rural economy from Business Line - Money & Banking https://ift.tt/3tjeB...

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This quarter, we are going to surprise ourselves on NPA recovery front: Rahul Shukla, HDFC Bank

"We are a large country and a large market which is underpenetrated in credit. The policy-led transformation of agri and strong policy support for MSMEs will continue to allow banks to find high growth opportunities for a long time to come without any undue credit concerns." from Banking/Finance-Industry-Economic Times https://ift.tt/3DUhx...

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ADB clears $150 million loan for urban poor housing project in Tamil Nadu

With this loan, through the Tamil Nadu Slum Clearance Board, the project will construct housing units in nine different locations from Business Line - Money & Banking https://ift.tt/3yNbk...

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Cashfree launches Banking-as-a-service offering ‘Accounts’

Accounts will allow businesses to offer features such as account opening, linking, deposits and interest earning from Business Line - Money & Banking https://ift.tt/2VhTv...

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Sundaram Finance presents favourable near-term outlook amid caution

Sundaram Finance to focus on striking a judicious balance between growth, quality and profitability (GQP) from Business Line - Money & Banking https://ift.tt/3h2Nx...

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Dukaan raises $11 million in funding from 640 Oxford Ventures, others

Many high-profile executives also participated in the funding round, including OYO Room’s Ritesh Agarwal and Nothing Co-founder Carl Pei from Business Line - Money & Banking https://ift.tt/2WS6A...

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A surprise bond rally sweeps over india as global funds pile in

Yields dropped across the curve last week, with those on the benchmark 10-year bond declining ten basis points, the biggest weekly drop since April from Business Line - Money & Banking https://ift.tt/2WXic...

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Madhya Pradesh High Court stays RBI notification on UCBs

Petitioner argued that the RBI’s order ‘lacks authority’; more pleas likely in courts from Business Line - Money & Banking https://ift.tt/3BLaG...

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Benchmark G-Secs can edge up from the current level

Bond traders expect 10-year yield to fall to 6.12% this week from Business Line - Money & Banking https://ift.tt/2WVpZ...

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Payments Banks want RBI to hike max day end deposit balance to ₹5 lakh

In April 2021, the maximum balance a customer can hold at end of the day in a PB was hiked to ₹2 lakh from Business Line - Money & Banking https://ift.tt/3h4d8...

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Aditya Birla Health Insurance looks to break even in next fiscal year on strong growth trajectory

"The company would like to grow at a similar rate of around 50 per cent in the current financial year as well," ABHICL CEO Mayank Bathwal said. from Banking/Finance-Industry-Economic Times https://ift.tt/3nccY...

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UCO Bank partners with Fisdom to offer wealth management solutions

The collaboration between Fisdom and Uco Bank will focus on enabling large-scale facilitation and distribution of all mutual fund schemes through the bank's network of over 3,000 branches and all digital platforms, the Kolkata-based lender said. from Banking & Finance – The Financial Express https://ift.tt/3h40j...

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