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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.

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CRYPTOCURRENCY

 * CRYPTO IS ‘EFFECTIVELY NONEXISTENT’ FOR BIG INSTITUTIONS, JPMORGAN’S GROSS
   SAYS

 * LAW ON CRYPTOCURRENCY ONLY AFTER INTERNATIONAL COLLABORATION, RISK
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 * NEARLY 5,000 NEW CRYPTOCURRENCIES EMERGED IN 2022 DESPITE HARSH WINTER

 * RBI TO LAUNCH FIRST PILOT FOR RETAIL DIGITAL RUPEE ON DECEMBER 1; SBI, ICICI
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