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ETBFSI Newsletter | Monday, July 29, 2024


Daily Newsletter



Top Stories



Will abolishing angel tax end funding winter for startups?
Currently, approximately 1.44 lakh startups are recognised by the DPIIT, and
this move is poised to significantly enhance their ability to raise funds...




RBI's new LCR guidelines may intensify competition for retail deposits, hit bank
margins
Banks may consider strategic measures such as limiting digital banking services
for some accounts to maintain lower run-off factors, although this cou...




Banks push secured credit cards amid RBI concerns over unsecured loans
Secured credit cards backed by fixed deposits are emerging as a viable solution
to meet the continued demand for credit while mitigating risk.


 

Banking



Banks told to speed up IBC resolutions
The government monitored top 20 insolvency cases under Insolvency & Bankruptcy
Code (IBC) due to slow action taken by banks. Following the interventio...




Host of challenges ahead for private banks in Q2
Apart from the seasonal impact, heightened due to general elections and heat
waves across the country that affected business activities, most private ...




ICICI Bank has posted a net profit growth of 14.6 pc, NII up by 7.3 pc
Private sector banking major, ICICI Bank has posted a net profit growth of 14.6
per cent year-on-year (YoY) in the first quarter of financial year 202...




PSU banks may get another 2-year extension to comply with MPS norms
As per the Securities and Exchange Board of India (Sebi), all listed companies
must maintain an MPS of 25 per cent.


 

Insurance



Chola MS General Insurance clocks GWP of Rs 1,945 cr in Q1
Cholamandalam MS General Insurance Company Ltd reported a Gross Written Premium
of Rs 1,945 crore for Q1 2024, showing a 14.3 per cent growth compared...




InsuranceDekho secures composite broking licence, to start reinsurance biz
InsuranceDekho, a Gurugram-based insurance marketplace, has secured the
composite insurance broking licence from IRDAI. Its customers can now avail
th...




Time for Businesses to Wake Up to Loss of Profit Insurance
In today's interconnected world, the reliance on technology is undeniable.
However, with this reliance comes the risk of significant disruptions, as ...


 

NBFC



EQT closing in on Aavas Financiers, Rs 7,000 cr deal up for grabs
Bain, CVC Capital also in fray; 51% stake in play in 2nd largest Housing Finance
company as current promoters Kedaara & Partners Group seek to exit 8 ...




REC net profit grows 16 pc, return on net worth up by 19 pc in Q1 FY25
REC's total sanctions increased during this period by 24 per cent YoY to Rs
1,12,791 crore, with a notable 59 per cent rise in sanctions to the renewa...


 

Fintech





In crypto world, the hacker is God
When a cyber villain affects a system, it is as unstoppable as an earthquake or
pandemic. Traders, for example, who have had their cryptocurrencies an...




FBI pings WazirX for info on attack by 'North Korean hackers'
Cryptocurrency platform WazirX suffered the biggest cyberattack on an Indian
exchange, with hackers stealing more than $230 million worth of investor ...


 

Financial Services



After Kotak twist & China spies, Hindenburg vs Adani gets murkier as new details
emerge in the drama
Adani-Hindenburg row: In the ongoing Adani-Hindenburg saga, new revelations show
that US short-seller Hindenburg Research shared its critical report o...




FPIs invest Rs 33,600 cr in equities in July amid continued policy reforms, good
earnings season
Foreign investors injected over Rs 33,600 crore into Indian equities so far this
month on the expectation of continued policy reforms, sustained econo...




US Fed interest rate decision, Q1 earnings to drive stock markets this week:
Analysts
GAIL, Adani Power, Bank of Baroda, BHEL, Coal India, M&M, Maruti, Tata Steel,
Adani Enterprises and Tata Motors are among the companies which will ann...




Markets showing no sign of nervousness amid weak rupee: BofA
The one-month implied volatility being priced by the foreign exchange options
market has been below 2% for six months now, much lower than 3.5% a year...


 

Policy



Banks borrow more than they raise deposits to fund loan demand
In early July, Indian banks borrowed a record Rs 1.19 lakh crore from the market
due to challenges in attracting deposits, which totaled Rs 1.02 lakh ...




RBI imposes penalties on 3 payment system operators including Visa Worldwide
The Reserve Bank of India has fined Visa Worldwide, Ola Financial Services, and
Manappuram Finance for failing to comply with regulatory requirements....


 

Industry



What is the difference between tax exemption and tax deduction?
If you are confused by personal finance terms, jargon and calculations, here's a
new series to simplify and deconstruct these for you. In the ninth p...




Here's how Digital Public Infrastructure (DPI) reforms will revolutionise stock
market
The digitization of agricultural lands under DPI will allow the government to
maintain comprehensive and accurate records of farming land across the c...




India's growth story: Balancing long-term vision with short-term volatility
The FY 25 budget, while introducing adjustments, ultimately lays the foundation
for sustainable and inclusive economic growth. Five schemes with an ou...

 

 





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