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We have updated our terms and conditions and privacy policy Click "Continue" to accept and continue with ET BFSI ACCEPT THE UPDATED PRIVACY & COOKIE POLICY Dear user, ET BFSI privacy and cookie policy has been updated to align with the new data regulations in European Union. Please review and accept these changes below to continue using the website. You can see our privacy policy & our cookie policy. We use cookies to ensure the best experience for you on our website. If you choose to ignore this message, we'll assume that you are happy to receive all cookies on ET BFSI. * Analytics * Necessary * Newsletter NameProviderExpiryTypePurpose Google AnalyticsGoogle1 YearHTTPSTo track visitors to the site, their origin & behaviour.iBeat AnalyticsIbeat1 YearHTTPSTo track article's statisticsGrowthRx AnalyticsGrowthRx1 YearHTTPSTo track visitors to the site and their behaviour NameProviderExpiryTypePurpose optoutTimes Internet1 YearHTTPSStores the user's cookie consent state for the current domainPHPSESSIDTimes Internet1 dayHTTPSStores user's preferencesaccessCodeTimes Internet2.5 HoursHTTPSTo serve content relevant to a regionpfuuidTimes Internet1 YearHTTPSUniquely identify each userOSTIDTimes Internet1 YearHTTPSOauth secure tokenOSSOIDTimes Internet1 YearHTTPSOauth user identifierOSTPID Times Internet1 YearHTTPSused to sync accross portalsfpidTimes Internet1 YearHTTPSBrowser Fingerprinting to uniquely identify client browsers NamePurpose Daily NewsletterReceive daily list of important newsPromo MailersReceive information about events, industry, etc. I've read & accepted the terms and conditions NEWS SITES * Auto News * Retail News * Health News * Telecom News * Energy News * CIO News * Real Estate News * Brand Equity * CFO News * IT Security News * Government News * Hospitality News * HR News * Legal News * ET TravelWorld News * Infra News * B2B News * CIOSEA News * HRSEA News * HRME News Upcoming Event: CFO Meet & discussion on Revised Companies Act Sign in/Sign up * Follow us: * * * * * * * ETBFSI Exclusive * BANKING * INSURANCE * InsurTech * NBFC * FINTECH * Payments * Digital Lending * RegTech * Open API * BFSI Videos * Editor's View * Brand Solutions * LAY THE GROUNDWORK TO ACCELERATE BANKING INNOVATION * ETBFSI CXO CONCLAVE Connecting Financial Institutions Digitally * ETBFSI FINNEXT SUMMIT The Future of NBFCs and FinTechs * REIMAGINE NEXT * SIDBI-ET MSMES/STARTUPS Roudtable Discussion * REIMAGINE NEXT - THE FUTURE OF LEARNING * ETBFSI.COM CONVERGE BFSI: The world of Hyper-personalization * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI * LEARNFEST * ETBFSI EXCELLENCE AWARDS 2021 AWARDS FOR EXCELLENCE IN INNOVATION * THE DIGITAL NEXT: SERIES 2.1 Live Virtual Summit * 3RD EDITION OF ETBFSI CXO CONCLAVE Unlocking the BFSI Potential * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021 * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021 * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY * NATIONAL COOPERATIVE SUMMIT * FINANCIAL INCLUSION & PAYMENT SUMMIT * Millennial Finance * FinTech Diary * BFSI Tech Tales * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * Innovation Masters * POLICY * FINANCIAL SERVICES x Banking BANKS SHOULD COLLABORATE WITH TECHNOLOGY AS BACKBONE: BANKING LEADERS Banks need to collaborate with technology as backbone with various people in the ecosystem in order to bring the best products for their customers and ensure that they are leveraging what they have, leaders believe. LATEST NEWS * 5h hrs ago South Indian Bank revises FD, savings account interest rates * 5h hrs ago Sensex takes a breather after 6-day rally; Nifty below 16,700 * 5h hrs ago Inflation a drag on ecommerce juggernaut * 5h hrs ago More companies giving parents health insurance. Avg sum insured in group covers hiked to Rs 5 lakh per family * 5h hrs ago China plans to set up real estate fund worth up to $44 bln * 5h hrs ago A recession in the United States will also come to India’s tech hub * 3h hrs ago U.S. economy slowing, but recession not inevitable, Yellen says * 3h hrs ago Private equity inflows touch a record $27 billion in H1 View More Insurance ASSAM FLOOD REPORTS HUNDREDS OF MOTOR AND HEALTH INSURANCE CLAIMS After three months of disastrous floods in the state of Assam, the situation has slightly improved and the insurance claims are being reported in large numbers. Bajaj Allianz General, ICICI Lombard, have already received around 200 claims each. The insurance companies have also reduced the paperwork to expedite the insurance claims. Financial Services DANCING TO THE DOLLAR TUNE: FPIS WITH WEAKER HOME CURRENCIES HIT MOST ON D-ST At Rs 20.3 lakh crore, the Indian equity of FPIs, which have seen a depreciation in their home currencies against the dollar were almost half of total FPI holdings. Banking BANKS SEEK BIGGER HTM PLAY AS BOND YIELDS SPIKE Banks petition RBI to increase the limits for held-to-maturity portfolios for government bonds as well as permission to amortise marked-to-market losses incurred on bond holdings in the current quarter. Blog HOW DOES GEN Z LIKE TO FULFILL ITS BANKING NEEDS? Gen Z’s needs for innovation and technology-friendly operations has percolated even their banking philosophy. They are not content with merely being able to walk into a traditional bank branch in their neighborhood to fulfill their banking needs. They are now demanding some changes in the traditional bank operations. Banking YES BANK’S BALANCE SHEET RESILIENT TO NAVIGATE INTEREST RATE HIKES: PRASHANT KUMAR Yes Bank today said that it has a strong balance sheet to accommodate the rate hike while announcing its Q1 results. The bank reported a 50 percent Y-o-Y growth in profits and 1.6% reduction in NPAs since the first quarter of FY2022. Editor's View THE DOYENNE ARRIVES She is also the youngest and India's first President to be born after Independence much before the US elected Kamala Harris as Vice President, India saw the rule. There are breathtaking stories of women in the world of politics, corporate and finance in India. View More TOP FEATURED STORIES Financial Services / 5 days ago 'THERE IS A DISCONNECT BETWEEN EVERYDAY FINANCE AND GREEN FINANCE' CHIEF SUSTAINABILITY OFFICER, MAS “We need to look at the brown parts, the heaviest carbon users, the industries that can be more polluting and work with them and use finance for good and say if you start to change and move into that direction, we will help finance that transition to help you be more sustainable and I think that’s the power of sustainable finance,” Dr McBain told ETBFSI at the Point Zero Forum in Zurich, Switzerland. * Banking NOT ALL BANK SYSTEMS ARE MEANT TO BE SUPPORTED BY CLOUD: CELINE LE COTONNEC * Insurance AFTER 21 YEARS OF PRIVATISATION AND EXTENSIVE EFFORT, HOW HAS INDIA'S INSURANCE SECTOR EVOLVED? * Financial Services HOW ARE GREEN, SOCIAL AND SUSTAINABILITY BONDS FARING IN INDIA? * NBFC 'OPEN TO MORE PARTNERSHIPS, POSSIBLY BE A LENDING-BACKED MARKETPLACE' View More BLOG * Sanchay Kumar Sinha - Country Head, Liabilities & Branch Banking, South Indian Bank HOW DOES GEN Z LIKE TO FULFILL ITS BANKING NEEDS? * Ashok Haldia - Past Secretary, The Institute of Chartered Accountants of India BFIS SHOULD GEAR UP TO FACE CLIMATE CHANGE CHALLENGES * Abhay Bhutada - MD, Poonawalla Fincorp Limited HOW NEW-AGE NBFCS ARE CHANGING THE SMALL BUSINESS LOAN LANDSCAPE IN INDIA * Japan Doshi - Head of Product and Technology, Rupeek FINTECH LEADS THE GOLD RUSH WITH TECH-LED ASSET-BACKED LENDING * Ravi Subramanian - MD & CEO, Shriram Housing Finance SEMI-URBAN/RURAL AFFORDABLE HOUSING OUTPACING URBAN DEMAND * Vivek Veda - Co-Founder & CFO, KreditBee HERE’S WHY DIGITAL LENDERS ARE LEVERAGING NEW-AGE TECHNOLOGY FOR THEIR OFFERINGS View More FINTECH Fintech / 5 mins ago SENSEX TAKES A BREATHER AFTER 6-DAY RALLY; NIFTY BELOW 16,700 Markets across Asia were trading in the red while S&P500 futures were also suggesting a flat-to-negative start for US stocks later in the day. * Fintech / 1 day ago TOP CRYPTO EXCHANGE BLOCKCHAIN.COM CUTS 25% OF ITS WORKFORCE * Fintech / 1 day ago BITGET AND BCG FORESEE CRYPTO EXCHANGES TO PLAY A KEY ROLE IN ENABLING WEB3 TRANSFORMATION * Fintech / 2 days ago COINSWITCH ANNOUNCES ZERO-FEE BITCOIN TRADING FOR LIMITED PERIOD * Fintech / 2 days ago FINTECHS SHOULD OPERATE UNDER THE LICENSES GRANTED: RBI GOVERNOR DAS View More POLICY Policy / 22 hrs ago RBI TO ISSUE A CONSULTATION PAPER ON CLIMATE CHANGE RISKS "Climate-related risks will be a focus area in times to come" said RBI governor Shaktokanta Das on Friday in his address at the Bank of Baroda’s annual banking conference in Mumbai. * Policy / 1 day ago WILL ENSURE INDIA'S ECONOMY HAS A SOFT LANDING, SAYS RBI GOVERNOR SHAKTIKANTA DAS * Policy / 2 days ago DIGITAL LENDING ENTITIES SHOULD ONLY CARRY OUT ACTIVITIES FOR WHICH THEY HAVE LICENSES, SAYS RBI GUV * Policy / 2 days ago RBI IMPOSES RESTRICTIONS ON FOUR CO-OP BANKS, CAPS WITHDRAWALS * Policy / 2 days ago BALANCED APPROACH NEEDED FOR CLIMATE RISKS: RBI GOV DAS View More NBFC * IIFL FINANCE APPOINTS GAURAV SHARMA AS CHIEF TECHNOLOGY OFFICER * PNB HOUSING UP 8% ON SETTLEMENT WITH SEBI OVER CARLYLE CASE * CONFIDENT OF L&T FINANCE ROA TRIPLING TO 3% BY FY26: DINANATH DUBHASHI * PIRAMAL, INDUSIND, OAKTREE AND COSMEA MULL BID FOR RELIANCE CAPITAL * M&M FINANCE PARTNERS WITH CREDGENICS FOR RETAIL LOAN COLLECTIONS * NEARLY 8,000 COMPLAINTS RECEIVED BY RBI AGAINST NBFCS, LENDING APPS IN THE LAST ONE YEAR * SHRIRAM GROUP'S NON-BANKING FINANCIAL ENTITIES TO GET AMALGAMATED BY DEC QTR:MD & CEO YS CHAKRAVARTI * WADHAWAN ROUTED ₹115 CR TO JACK UP DHFL SHARES IN '18 * SECURITISATION VOLUMES SURGES 70% IN Q1 ON INCREASED ECON ACTIVITY * DEMAND REVIVAL TO HELP NBFCS POST BEST QUARTER IN TWO YEARS * STICKY MICRO LOANS AT RS 32,000 CRORE, BUT PROFITABILITY FOR NBFC-MFIS MAY IMPROVE * MFIS' GROSS LOAN PORTFOLIO RISES TO RS 2.9 LAKH CRORE AT MARCH-END: REPORT * DIGITAL DISRUPTION NEW NORMAL, WORKING ON ‘SHRIRAM ONE’ SUPER APP: REVANKAR AND CHAKRAVARTI * AROHAN LAUNCHES DIGITAL LENDING APP, EXPECTS TO RAISE LOAN PORTFOLIO BY RS 600CR BY FY23 * AROHAN FINANCIAL IN TALKS WITH PES TO RAISE RS 1,900 CR * NBFCS, HFCS SECURITISATION VOLUMES ALMOST DOUBLED TO RS 33,000 CRORE IN APRIL-JUNE: REPORT * NBFC-HFCS TO HAVE HEALTHY DISBURSEMENT MOMENTUM, STEADY QUARTER : REPORT * CSC, ADANI CAPITAL IN PACT TO OFFER WORKING CAPITAL TO 6K SELLERS * NIIF TO BRING NEW INVESTORS ON DEBT PLATFORM * CO-LENDING EASING CAPITAL ISSUES FOR NBFCS: GODREJ CAPITAL View More MORE FROM ETBFSI * Banking / 5h hrs ago SOUTH INDIAN BANK REVISES FD, SAVINGS ACCOUNT INTEREST RATES South Indian Bank updated its fixed deposit and savings account interest rates effective July 20, 2022 for amounts less than Rs 2 crore. * Fintech / 5h hrs ago SENSEX TAKES A BREATHER AFTER 6-DAY RALLY; NIFTY BELOW 16,700 Markets across Asia were trading in the red while S&P500 futures were also suggesting a flat-to-negative start for US stocks later in the day. * Industry / 5h hrs ago INFLATION A DRAG ON ECOMMERCE JUGGERNAUT Daily shipments growth moderates, pegged at 20% for FY23; sale days boom muted. * Insurance / 5h hrs ago MORE COMPANIES GIVING PARENTS HEALTH INSURANCE. AVG SUM INSURED IN GROUP COVERS HIKED TO RS 5 LAKH PER FAMILY According to Plum, an employee health insurance platform, 30% of its corporate clients have parental covers as part of their GHI policies. Most of these companies are first-time insurance buyers with an average employee strength of less than 100. The average age of employees in these businesses is 30 years while that of the parents is 57.5 years. * Industry / 5h hrs ago CHINA PLANS TO SET UP REAL ESTATE FUND WORTH UP TO $44 BLN Regulators and local governments will select the developers eligible for support from the fund, REDD said, adding that the fund can be used to buy financial products issued by the developers or finance state buyers' acquisitions of their projects. Beijing is also considering a national policy for issuance of special bonds for shantytown redevelopment, the report said. * Industry / 5h hrs ago A RECESSION IN THE UNITED STATES WILL ALSO COME TO INDIA’S TECH HUB Look closer at the financial results of IT firms, and you’ll see signs of stagflation in plummeting profitability. Infosys managed to boost rupee earnings by just over 3% from a year earlier in the June quarter, even with nearly 24% revenue growth. A 20% EBIT margin — earnings before interest and tax as percentage of revenue — is a 3.6 percentage point drop year on year. * Industry / 3h hrs ago U.S. ECONOMY SLOWING, BUT RECESSION NOT INEVITABLE, YELLEN SAYS Yellen said inflation "is way too high" and recent Federal Reserve interest rates hikes were helping to bring soaring prices back in check. Yellen, who previously served as chair of the Federal Reserve, hopes the Fed can cool the economy enough to bring down prices without triggering a broad economic downturn. Yellen said that even if the second-quarter figure is negative, it would not signal that a recession has taken hold, given the strength in the job market and strong demand. * Financial Services / 3h hrs ago PRIVATE EQUITY INFLOWS TOUCH A RECORD $27 BILLION IN H1 Investments by big-ticket private equity investors and venture capitalists rose 15.5% year-on-year, according to data compiled by Indian Venture Capital Association (IVCA). As many as 713 deals were signed between January and June compared with 526 in the corresponding period last year. View More SUBSCRIBE TO OUR NEWSLETTER 50000+ Industry Leaders read it everyday I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. CRYPTOCURRENCY * TOP CRYPTO EXCHANGE BLOCKCHAIN.COM CUTS 25% OF ITS WORKFORCE * CRYPTO LOGICAL EXTENSION OF FINTECH, ITS USE AS ASSET, CURRENCY A CHALLENGE: MOS IT * "GLOBAL COLLABORATION" NEEDED: SITHARAMAN ON RBI'S RECOMMENDATION TO BAN CRYPTO * RBI BATS FOR CRYPTO BAN, GOVT SEEKS GLOBAL COLLABORATION FOR BETTER IMPLEMENTATION: FM SITHARAMAN * IAMAI DISSOLVES BACC; INDUSTRY SAYS WILL CONTINUE TO BAT FOR REGULATIONS * NFT MARKETPLACE OPENSEA SLASHES 20% OF JOBS * INTERNET BODY TO DISMANTLE BLOCKCHAIN AND CRYPTO ASSETS COUNCIL * GLOBAL REGULATORS BACK 'SAME RISK, SAME REGULATION' FOR STABLECOINS * COINBASE'S BRIAN ARMSTRONG EXPLAINS EFFICIENCY MEASURES AMID RISING VOLATILITY View More BFSI VIDEOS * CREDIT GROWTH PICKING UP ACROSS ALL SECTORS; NO DAMPER IN CASE OF RATE HIKES: SHANTI LAL JAIN Shanti Lal Jain, MD and CEO, Indian Bank, in conversation with Amol Dethe, editor of ETBFSI, said that he sees credit growth picking up in all sectors this year — retail, MSME as well as corporate. He also highlighted how the normalisation of interest rates is happening and the he is not seeing any damper on account of interest rate hikes. "In terms of credit growth, when the commodity prices increase, the utilization levels of the working capital is increasing and in the credit side as well, sector by sector we are seeing growth. As far as interest rate is concerned, 1-2 years back when there wasn't enough liquidity, naturally creditor interest rate was lower and the growth was also lower. Now that the growth is happening, the demand is increasing and interest rates also will be normalized. So it won't have any impact on growth plans and I'm not seeing any damper on account of interest rate hikes", Jain said. Tune in to listen to his insights. Note: the data/numbers that he shared belongs to the previous year (FY2021-2022). * 10 days ago FINTECH DIARY WITH NITHIN KAMATH, FOUNDER AND CEO, ZERODHA * 19 days ago INDIAN FINTECHS WILL MOVE TOWARDS 2ND ORDER PRODUCTS IN THE NEXT 3 YEARS, SAYS MADHUSUDHAN R * 21 days ago CO-LENDING MODEL A SURE SHOT SUCCESS, SAYS MONU RATRA OF IIFL HOME FINANCE View More EDITOR'S PICK * 27 mins ago ASSAM FLOOD REPORTS HUNDREDS OF MOTOR AND HEALTH INSURANCE CLAIMS * 3 hrs ago DANCING TO THE DOLLAR TUNE: FPIS WITH WEAKER HOME CURRENCIES HIT MOST ON D-ST * 43 mins ago BANKS SHOULD COLLABORATE WITH TECHNOLOGY AS BACKBONE: BANKING LEADERS * 3 hrs ago BANKS SEEK BIGGER HTM PLAY AS BOND YIELDS SPIKE * 1 day ago HOW DOES GEN Z LIKE TO FULFILL ITS BANKING NEEDS? 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