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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 * ETBFSI AWARDS 2022 * ACCELERATE END-TO-END CUSTOMERS' JOURNEYS WITH AN AGILE LENDING SOLUTION * GLOBAL INSURANCE BROKERS PVT. LTD * ETBFSI.COM CONVERGE Thriving in the world of digital * ETBFSI CXO CONCLAVE Connecting Financial Institutions Digitally * LAY THE GROUNDWORK TO ACCELERATE BANKING INNOVATION * ETBFSI FINNEXT SUMMIT The Future of NBFCs and FinTechs * SIDBI-ET MSMES/STARTUPS Roudtable Discussion * REIMAGINE NEXT * LEARNFEST * REIMAGINE NEXT - THE FUTURE OF LEARNING * ETBFSI.COM CONVERGE BFSI: The world of Hyper-personalization * ETBFSI EXCELLENCE AWARDS 2021 AWARDS FOR EXCELLENCE IN INNOVATION * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI * 3RD EDITION OF ETBFSI CXO CONCLAVE Unlocking the BFSI Potential * THE DIGITAL NEXT: SERIES 2.1 Live Virtual Summit * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021 * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021 * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY * Millennial Finance * FinTech Diary * ETBFSI Research * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * BFSI Tech Tales * Innovation Masters * POLICY * FINANCIAL SERVICES x Industry CHANDA KOCHHAR SAGA: FROM PADMA BHUSHAN AWARDEE TO A FRAUD CONVICT The Chanda Kochhar’s story is one of the most-discussed story in the banking industry as a lady who started as a trainee, reached to the top position to lead one of the biggest private banks in India. The journey was inspiring till a point when fame and power was misused for personal gain, involving thousands crores of misappropriation. Here at ETBFSI, we narrate the rise and fall of Chanda Kochhar, and what led the banking queen from throne to reach behind the bars: LATEST NEWS * 5h hrs ago ICICI Bank-Videocon case: Chanda & Deepak Kochhar, V N Dhoot sent to CBI custody till December 28 * 5h hrs ago Cashfree joins with hands Shark Tank India Season 2 as Payments Partner * 4h hrs ago Mutual funds see muted 2022; expect better days in new year * 4h hrs ago Indian shares snap four-day losing streak; Nifty 50 back above 18,000 * 4h hrs ago Gross direct tax collections up by 30% at Rs 10,93,385 cr in current fiscal * 3h hrs ago SMBs emerge as top job creators in India: Report * 2h hrs ago Fund mobilisation through equity, debt routes down 20 pc to Rs 11 lakh cr in 2022 * 2h hrs ago DBS Bank India partners with Gofrugal Technologies to help SMEs adopt ONDC View More NBFC ‘PHYSICAL TO PHYGITAL TO DIGITAL’: MAHINDRA FINANCE COO’S MANTRA TO INCREASE RURAL DIGITAL PENETRATION COO Rebello believes there is no shortcut in digital transition in the rural and semi-urban areas. He believes Mahindra Finance is in a good position in tractor business and eyes for growth in the used tractor segment. Here’s the highlights of an exclusive interaction of ETBFSI with Raul Rebello: Fintech EXPLAINED: HOW THE UPCOMING PERSONAL DATA PROTECTION BILL WILL IMPACT FINTECH FIRMS? The upcoming Personal Data Protection Bill would have an impact on Fintech Companies that engage mainly in processing personal as well as financial customer data, as this will place additional obligations on the Fintech entity as well as restrictions on the storage of information abroad. In this chapter of ETBFSI Explains, we decode the Data Protection Bill and its impact on fintech firms. Banking CBI ARRESTS FORMER ICICI CEO CHANDA KOCHHAR, HUSBAND IN LOAN FRAUD CASE The Central Bureau of Investigation (CBI) on Friday arrested former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar in a connection with a loan fraud case. They have been arrested in the agency’s ongoing probe connected to the loans sanctioned to Videocon when Kochhar was at the helm of the private bank. Blog TRENDS IN THE INDIAN FINTECH ECOSYSTEM FOR 2022 Investment in this sector is moving north as the FinTech world becomes more applicable to consumers' everyday lives. According to a recent assessment by the Boston Consulting Group and FICCI, the industry would probably be valued between $150 and 160 billion by 2025. Investor optimism has already been reflected. Out of the more than 100 unicorns in India, 21 are now in the FinTech sector, with several even going public last year. Blog OUTLOOK 2022 |LIFE INSURANCE- EMERGING TRENDS, GROWTH ANALYSIS AND BUSINESS INSIGHTS Industry RBI INCENTIVES LIFT NRI DEPOSITS FOR THE FIRST TIME IN OCTOBER THIS FISCAL Flow during April-October also rises to $4.93 billion as the RBI's move to allow higher interest rates on NRI deposits attracts more funds. View More TOP FEATURED STORIES Banking / 5 days ago PSBS CREDIT GROWTH LIKELY TO BE IN DOUBLE-DIGIT THIS YEAR: BANK OF MAHARASHTRA MD In an exclusive interaction with Amol Dethe, Editor, ETBFSI, A S Rajeev MD & CEO of Bank of Maharashtra discussed some key developments of the banking industry and shared forecasts for BoM for the coming year. MD looks at infra and hotel as promising sectors in terms of loans and also said BoM is doing pretty well in terms of CAR with no capital infusion required. Here are the highlights of the interaction. * Fintech UPI FUND BLOCK TO EASE BROKER WORKLOAD BUT RAISES QUESTION OVER PAYMENT FAILURE: NITIN KAMATH OF ZERODHA * Banking BANKING APPS SHOULD UNDERSTAND USERS LIKE A SPOTIFY LIST DOES: RBI INNOVATION HUB CEO * Insurance INDIA'S INSURTECH MOMENT: THE GROWTH STORY OF LESS-TALKED SECTOR * Banking ‘WELL CAPITALISED, LOOK TO UNLOCK INVESTMENTS IN CURRENT FY’: SBI CHIEF ON Q2 RESULTS View More BLOG * Gautam Samanta - EVP, BFS, Coforg TOP 5 TECHNOLOGY TRENDS IN 2023 IN THE BANKING AND FINANCIAL SERVICES INDUSTRY * Dipesh Doshi - Managing Director – Protiviti member firm for India BASEL III: IMPLEMENTING NEW STANDARDISED APPROACH FOR OPERATIONAL RISK * Vishal Salvi - Chief Information Security Officer and Head of Cyber Security Practice, Infosys A RISK-BASED APPROACH TO SECURING ENTERPRISES IN BFSI * Casparus J H Kromhout - Managing Director & CEO, Shriram Life Insurance OUTLOOK 2022 |LIFE INSURANCE- EMERGING TRENDS, GROWTH ANALYSIS AND BUSINESS INSIGHTS * Jasmin B Gupta - Co-founder and CEO, LXME TRENDS IN THE INDIAN FINTECH ECOSYSTEM FOR 2022 * Rohit Garg - Co-Founder & CEO, SmartCoin LENDING ECOSYSTEM UNDER RBI SCRUTINY | STANDARDS, NORMS, INDUSTRY & CONSUMER IMPACT AND THE WAY FORWARD! View More FINTECH Fintech / 4 hrs ago MONEY VIEW SECURES A FRESH $75 MILLION FUNDRAISING ROUND FROM APIS PARTNERS IN ITS SERIES E ROUND. The company presently managers AUM's of over $800 million and is running at a early run rate of $1.2 billion with over 400 million app downloads. * Fintech / 9 hrs ago 2022 YEAR IN REVIEW | A TUMULTUOUS 2023 AWAITS FINTECH STARTUPS * Fintech / 9 hrs ago INDIAN FINTECH FACES TOUGH 2023; PAYU INDIA LAYS OFF 6% OF EMPLOYEES * Fintech / 9 hrs ago CRYPTO IS ‘EFFECTIVELY NONEXISTENT’ FOR BIG INSTITUTIONS, JPMORGAN’S GROSS SAYS * Fintech / 11 hrs ago EXPLAINED: HOW THE UPCOMING PERSONAL DATA PROTECTION BILL WILL IMPACT FINTECH FIRMS? View More POLICY Policy / 9 hrs ago PM KISAN, KISAN CREDIT CARD, AND 4 OTHER BENEFICIAL GOVT SCHEMES FOR FARMERS Kisan Diwas or National Farmers' Day is observed across the country on December 23 to honour farmers, the backbone country. The central government offers various schemes for farmers and the agricultural sector. Know all about Kisan Credit Card, Pradhan Mantri Fasal Bima Yojana, Pradhan Mantri Kisan Samman Nidhi and 3 other beneficial govt schemes for farmers * Policy / 2 days ago LAW ON CRYPTOCURRENCY ONLY AFTER INTERNATIONAL COLLABORATION, RISK EVALUATION: GOVT * Policy / 3 days ago INDIA'S RBI MAY HIKE REPO RATE TO 6.75% IN 2023 - IDBI BANK'S ARUN BANSAL * Policy / 4 days ago IFSCA RELEASES REGULATORY FRAMEWORK FOR DISTRIBUTION OF CAPITAL MARKET PRODUCTS, SERVICES * Policy / 4 days ago GOVERNOR DAS AGAINST PAUSE IN RATE HIKES: MPC MINUTES View More NBFC * SMBS EMERGE AS TOP JOB CREATORS IN INDIA: REPORT * ‘PHYSICAL TO PHYGITAL TO DIGITAL’: MAHINDRA FINANCE COO’S MANTRA TO INCREASE RURAL DIGITAL PENETRATION * HOME FIRST RAISES RS 280 CRORE IN MAIDEN GREEN DEBT FROM IFC * HINDUJA GROUP UPS ITS BID TO RS 9,500 CRORE TO ACQUIRE DEBT-RIDDEN RELIANCE CAPITAL * SHRIRAM FINANCE TO GROW ITS RETAIL FIXED DEPOSITS BY 25% * RELIANCE CAPITAL AUCTION: TORRENT GROUP HIGHEST BIDDER AT RS 8,600 CR * IL&FS TRANSFERS TWO MORE ASSETS WORTH RS 976 CRORE TO ROADSTAR INVIT * COSMEA PULLS OUT OF RACE TO ACQUIRE RELIANCE CAPITAL * SUNDARAM FINANCE LTD. AND CARE HEALTH INSURANCE ENTER INTO CORPORATE AGENCY AGREEMENT * MICROFINANCE LOANS UP 11 PC TO RS 71,916 CR IN Q2 FY23: REPORT * NBFCS SEEN GROWING AT 10-12 PER CENT THIS FISCAL AND NEXT * ABANS HOLDINGS IPO SUBSCRIBED 1.10 TIMES ON FINAL DAY * NBFCS SEEN GROWING AT 10-12 PER CENT THIS FISCAL AND NEXT * KINARA CAPITAL ADDS 15 NEW BRANCHES; REACHES 125 BRANCHES ACROSS 100 PLUS CITIES IN INDIA TO SERVE MSME SECTOR * PIRAMAL CAPITAL & HOUSING FINANCE TO HIRE 300 TECH PROFESSIONALS; SELECTS BENGALURU AS INNOVATION LAB HUB * RECAST OF ITNL ACCOUNTS DELAYED: IL&FS TO NCLAT * PTC INDIA ROPES IN SBI CAPITAL MARKETS TO MONETISE INVESTMENTS IN ITS ARM PTC ENERGY * POONAWALLA FINCORP ANNOUNCES SALE OF ITS HOUSING SUBSIDIARY TO TPG FOR 3,900 CR * IL&FS RESOLVES DEBT OF RS 56,943 CRORE, REDUCES NUMBER OF ENTITIES TO 101 * NBFCS CEDE GROUND TO BANKS AS THEIR MARKET SHARE IN CREDIT DROPS TO A FIVE-YEAR LOW View More MORE FROM ETBFSI * Banking / 5h hrs ago ICICI BANK-VIDEOCON CASE: CHANDA & DEEPAK KOCHHAR, V N DHOOT SENT TO CBI CUSTODY TILL DECEMBER 28 Videocon chairman Venugopal Dhoot, former MD and CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar have been sent to CBI custoday till December 28 in connection with the loan fraud case. CBI had sought the custody of the Videocon chairman for three days and of the couple for three more days. * Fintech / 5h hrs ago CASHFREE JOINS WITH HANDS SHARK TANK INDIA SEASON 2 AS PAYMENTS PARTNER Out of the 198 pitches on Shark Tank India season 1, 67 Indian businesses got funded. The second season aims to have a bigger impact with more episodes, pitches, and cracked business deals. It will have 50 episodes and the season will premiere on January 2, 2023. * Financial Services / 4h hrs ago MUTUAL FUNDS SEE MUTED 2022; EXPECT BETTER DAYS IN NEW YEAR The industry grew at a slower pace in 2022, mainly due to global headwinds, including the Russia-Ukraine war, supply chain bottlenecks and a decadal high global inflation coupled with rising interest rates. The 2021 growth was mainly braced by a rally in the stock markets. * Financial Services / 4h hrs ago INDIAN SHARES SNAP FOUR-DAY LOSING STREAK; NIFTY 50 BACK ABOVE 18,000 The Nifty 50 index closed 1.17% higher at 18,014.60, and the S&P BSE Sensex gained 1.20% to 60,566.42, marking their biggest daily gain since Nov. 24. * Industry / 4h hrs ago GROSS DIRECT TAX COLLECTIONS UP BY 30% AT RS 10,93,385 CR IN CURRENT FISCAL Gross direct tax collections for 2022-23 (up to November 30) are up by 29.66 per cent at Rs 10,93,385 crore, which was over Rs 8,43,301 crore collected during the corresponding period of last year. * NBFC / 3h hrs ago SMBS EMERGE AS TOP JOB CREATORS IN INDIA: REPORT Jobs posted by small and midsize businesses (SMBs) clocked a 60 per cent (year-on-year) surge, with emerging small businesses from tier 1 and 2 cities posting more than 2.1 million jobs in 2022 alone, a new report showed on Monday. * Industry / 2h hrs ago FUND MOBILISATION THROUGH EQUITY, DEBT ROUTES DOWN 20 PC TO RS 11 LAKH CR IN 2022 The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war. * Banking / 2h hrs ago DBS BANK INDIA PARTNERS WITH GOFRUGAL TECHNOLOGIES TO HELP SMES ADOPT ONDC Mumbai (Maharashtra) [India], December 26 (ANI/PRNewswire) DBS Bank India today announced its partnership with Gofrugal Technologies Pvt. Ltd., a seller-centric platform offering Omnichannel ERP solutions. The company empowers enterprise customers, including micro, small and medium enterprises and retail merchants, to adopt Open Network for Digital Commerce (ONDC) and enables them to expand their digital commerce footprint. The partnership furthers DBS Bank India's commitment to reimagining SME banking through innovation and providing digital solutions beyond traditional banking. It also reaffirms the bank's focus on serving MSMEs and SMEs profitably while finding new ways to deliver better service. Reimagining SME banking by innovating digital solutions beyond traditional banking. Collaboration with Gofrugal Technologies will help micro, small and medium enterprises get on the e-commerce bandwagon. View More BFSI VIDEOS * HOUSEHOLD FORMATION KEY DRIVER FOR BUOYANT HOUSING DEMAND: JAIRAM SRIDHARAN OF PIRAMAL Watch a quick commentary by Jairam Sridharan, MD, Piramal Capital & Housing Finance on demand for housing and digitalisation in the sector on second day of the ETBFSI Converge 2022. * 3 days ago MAKING WOMEN 'FINANCIALLY FEARLESS, FIT AND FREE': JASMINE B. GUPTA OF LXME * 5 days ago FINTECH DISCUSSION: SERVING CONSUMERS FROM HINTERLAND TO METAVERSE * 7 days ago BANKS' CXOS DISCUSSION: UNLOCKING THE POTENTIAL OF BANKING AS A SERVICE 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 * CRYPTO IS ‘EFFECTIVELY NONEXISTENT’ FOR BIG INSTITUTIONS, JPMORGAN’S GROSS SAYS * LAW ON CRYPTOCURRENCY ONLY AFTER INTERNATIONAL COLLABORATION, RISK EVALUATION: GOVT * NEED SIMILAR REGULATIONS FOR BANKS AND FINTECHS IF UNDERLYING ACTIVITY IS SAME: RBI DG * INDIA CENBANK CHIEF SAYS NEXT FINANCIAL CRISIS WILL COME FROM PRIVATE CRYPTOCURRENCIES * FTX SCANDAL: WHAT IS IT AND HOW DID IT UNRAVEL? 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