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Videos
CREDIT DEMAND TO REMAIN POSITIVE IN SPITE OF RATE HIKE, NO IMMEDIATE SLOWDOWN,
SAYS UMESH REVANKAR
Umesh Revankar, MD and CEO, Shriram Transport Finance Co. Ltd. at the ETBFSI
FinNext Summit 2022 spoke about how the rising inflation concerns might affect
credit demand in the country. "It is too early to comment on the increase in
rate and demand getting impacted but the economy is in uptake and when that
happens demand for credit generally does not come down because of interest rate
hike. The economy will be able to absorb the increase in lending rates, hence I
don't see any slow down in demand immediately," he said. Apart from this he also
briefly spoke about how the NBFC became the first one to use block chain for
issuing deposit certificates in the industry and how it plans to continue
leading when it comes to digitizing processes.
LATEST NEWS
* 5h hrs ago How TDS on crypto and virtual digital assets will work from
tomorrow
* 5h hrs ago New credit card rules: These rules will be effective from July 1,
2022
* 2h hrs ago EU backs crypto anti-money laundering rules
* 2h hrs ago Sebi clears FPI trades in commodities derivatives
* 2h hrs ago Karnataka Bank raises interest rates on deposits
* 2h hrs ago Banks are rethinking partnerships with credit-card based fintech
firms
* 2h hrs ago ₹2.5k cr boost for agriculture credit societies
* 2h hrs ago Insurers to pick up washed out T20 match’s Rs 45cr tab
View More
Fintech
ONECARD SEES FINTECHS CAPTURING SIGNIFICANT MARKET SHARE OF CREDIT CARDS, IN
PARTNERSHIP WITH BANKS
Pune-based FPL Technologies’ OneCard was launched in June 2020, with an aim of
building a credit card which was more customer experience centric. ETBFSI spoke
to Anurag Sinha, CEO and Co-Founder of OneCard. He gave insights into OneCard
and the broader credit cards industry.
NBFC
VEHICLE FINANCIERS SEE STEADY ROAD; MARGIN COMPRESSION IMMINENT: REPORT
Motilal Oswal Financial Services sees a steady growth for vehicle financiers in
FY23. Despite the COVID pandemic, the commercial vehicle segment saw an
improvement and is expected to continue in the current fiscal.
Financial Services
PERSONAL LOANS OFFTAKE GREW SHARPLY IN INDIA DURING PANDEMIC
The share of personal loans in total credit increased to 27.7 per cent in March
2022 compared with 26.3 per cent a year ago and 19.9 per cent five years ago,
according to RBI.
Fintech
MORE OF A STRATEGIC PARTNERSHIP WITH GOOGLE BEYOND THIS FUNDING: PROGCAP
CO-FOUNDER ON LATEST FUNDING ROUND
Progcap, a corporate-led financing solutions company for SMBs, on Tuesday
announced that it has raised US $40 mln as part of its Series C extension, led
by Creation Investments and Tiger Global Management, with Google joining as new
investor. ET BFSI spoke to Pallavi Shrivastava, Director & Co-founder, Progcap,
to understand what this funding means for the company.
Financial Services
CAN MSMES FACE THE RATE HIKE STORM?
A large portion of the credit availed under the government-backed ECLGS was
utilised for servicing interest costs. Some ECLGS repayments started last
September and the second phase will start by this year-end. when clarity would
emerge over the MSME stress situation.
Banking
AXIS BANK ANNOUNCES PARTNERSHIP WITH EAZYDINER; LAUNCHES DINING DELIGHTS
This new initiative by Axis Bank and EazyDiner is aligned to serve an increasing
number of customers who want choice, variety and convenience while dining out,
all at one go.
View More
TOP FEATURED STORIES
Financial Services / 10 days ago
HOW ARE GREEN, SOCIAL AND SUSTAINABILITY BONDS FARING IN INDIA?
The total size of the Indian green, social and sustainability market as of
December 2021 stood at USD19.5 billion by 75 issuers in 3 currencies. Of these,
green bonds led the way accounting for USD18.3 billion followed by
sustainability bonds and social bonds at USD600 million and USD500 million
respectively.
* NBFC
'OPEN TO MORE PARTNERSHIPS, POSSIBLY BE A LENDING-BACKED MARKETPLACE'
* Insurance
'PIRAMAL ELIGIBLE TO BID FOR RCAP'S GENERAL AND HEALTH INSURANCE BIZ'
* Fintech
INDIAN FINTECHS GARNER 42% SHARE OF $3.3 BILLION DEALS IN APAC REGION
* Insurance
HOW INSURANCE COMPANIES ARE USING THE AA ECOSYSTEM TO TACKLE CHALLENGES
View More
BLOG
* Harshvardhan Lunia - CEO & Founder, Lendingkart
HOW GOVT IS ASSISTING FINTECH COMPANIES TO SOLVE THE EMERGING CHALLENGES IN
THE FINTECH INDUSTRY
* Robin Bhowmik - Chief Business Officer, Manipal Global Skills Academy
BANKING ON TALENT: MOST IN-DEMAND SKILLS TO QUALIFY FOR OPPORTUNITIES IN THE
FINTECH INDUSTRY
* Yashwant Lodha - Co-founder, PayNearby
BUILDING A NEW INDIA: TECHNOLOGY FULFILLING LAST-MILE ACCESS TO CREDIT
* Sankarshan Basu - Professor, Finance and Accounting, Indian Institute of
Management, Bangalore
INDIAN BANKS BATTLE AGAINST FRAUDS
* Bikash Narayan Mishra - Senior Advisor, IBA
LET THE ELEPHANT DANCE ...
* Girish Nayak - Chief – Service, Operations & Technology, ICICI Lombard GIC
Ltd
RISK AND CHALLENGES ASSOCIATED WITH CLOUD MIGRATION IN THE INSURANCE SECTOR
View More
FINTECH
Fintech / 3 hrs ago
EU BACKS CRYPTO ANTI-MONEY LAUNDERING RULES
The rules, opposed by major U.S. exchange Coinbase Global Inc , would also
require crypto firms to report suspicious transactions to regulators to help
crack down on dirty money, the European Parliament and Council said in a
statement on Wednesday.
* Fintech / 3 hrs ago
CRYPTO HEDGE FUND THREE ARROWS CAPITAL HAS ENTERED LIQUIDATION, SOURCE SAYS
* Fintech / 3 hrs ago
ONECARD SEES SIGNIFICANT NUMBER OF CREDIT CARDS COMING FROM FINTECHS
* Fintech / 18 hrs ago
CASHFREE LAUNCHES INTEROPERABILITY IN CARD TOKENS ACROSS PAYMENT GATEWAYS
* Fintech / 18 hrs ago
SHIBA INU BURNS ABOUT 400 TRILLION TOKENS TO CAP SUPPLY; BLEEDS 13%
View More
POLICY
Policy / 3 hrs ago
SEBI CLEARS FPI TRADES IN COMMODITIES DERIVATIVES
Sebi on Wednesday allowed foreign portfolio investors (FPIs) to participate in
the country's commodities derivatives markets.
* Policy / 3 hrs ago
PROPER INTERPRETATION OF DATA NECESSARY FOR MORE INFORMED DECISION MAKING:
RBI GOVERNOR
* Policy / 3 hrs ago
GAPS IN CLIMATE-CHANGE DATA A CHALLENGE FOR POLICY-MAKING, SAYS RBI GOVERNOR
DAS
* Policy / 18 hrs ago
RESERVE BANK OF INDIA MAY NEED TO TWEAK FOREX STRATEGY, LET RUPEE WEAKEN, SAY
ANALYSTS
* Policy / 23 hrs ago
TDS ON CRYPTO, NEW CREDIT CARD RULES, HIGHER PAN-AADHAAR LINKING FINE: 5
CHANGES COMING INTO EFFECT FROM JULY
View More
NBFC
* VEHICLE FINANCIERS SEE STEADY ROAD; MARGIN COMPRESSION IMMINENT: REPORT
* SEBI ASKS PFS NOT TO CHANGE BOARD TILL COMPLETION OF FORENSIC AUDIT
* PALLONJI MISTRY, BILLIONAIRE CAUGHT IN TATA FEUD, DIES AT 93
* IF BOOKS ARE CLEAN, THEN HARMONISATION OF LENDER NORMS SHOULD NOT BE A WORRY:
RAVI SUBRAMANIAN
* LENDERS EXTEND TIMELINE FOR RELIANCE CAPITAL RESOLUTION BY 2 MONTHS TO
NOVEMBER
* NBFCS SHOULD DIVERSIFY RISKS ACROSS SECTORS: FORMER SBI CHAIRMAN
* RBI EXPLORING OPTIONS TO ENSURE CUSTOMER SAFETY DEALING WITH PPIS ISSUED BY
NON-BANK ENTITIES
* ANNAPURNA FINANCE RAISES $15 MILLION IN EQUITY FROM FRENCH INVESTOR PROPARCO
* IIFL FINANCE GETS BOARD'S APPROVAL TO RAISE RS 5,000 CR BY ISSUING BONDS
* MSME LENDING AN OPPORTUNITY FOR NBFCS, SAY LEADERS
* SHRIRAM GROUP PLANS TO ADD 2,500 EMPLOYEES FOR MERGED ENTITY IN 18-24 MONTHS
* LIC HOUSING FINANCE HIKES LENDING RATE BY 60 BPS
* PIRAMAL FOR A CHANGE IN COMPENSATION STRUCTURES IN FINANCE SECTOR
* GODREJ CAPITAL AIMS TO LAUNCH UNSECURED LOANS FOR NBFC ARM LATER THIS YEAR:
MANISH SHAH
* SHRIRAM GROUP RECEIVES RBI NOD FOR MERGER OF FINANCIAL SERVICES BUSINESS
* NBFC-MFIS GEAR UP TO RAISE EQUITY AS GROWTH PROSPECTS RETURN
* BAJAJ FINANCE RAISES RATES ON FIXED DEPOSITS
* PNB HOUSING FINANCE TO RAISE UP TO RS 2,000 CR VIA BONDS
* SHRIRAM CITY TO RAISE UP TO RS 300 CR BY ISSUING BONDS
* COST OF BORROWING TO INCREASE, NBFCS TO REMAIN STEADY: CRISIL
View More
MORE FROM ETBFSI
* Fintech / 5h hrs ago
HOW TDS ON CRYPTO AND VIRTUAL DIGITAL ASSETS WILL WORK FROM TOMORROW
The Central Board of Direct Taxes has issued a circular explaining the
guidelines about how TDS will work on crypto, virtual digital assets (VDAs)
and NFTs (as notified by the government). Read on to know what TDS
certificate will be issued and how much tax will be deducted on the sale of
VDAs.
* Financial Services / 5h hrs ago
NEW CREDIT CARD RULES: THESE RULES WILL BE EFFECTIVE FROM JULY 1, 2022
The RBI master guidelines states that card issuers are required to ensure
that customers receive their invoices and statements promptly through email
and that they have at least one fortnight to pay before interest is applied.
* Fintech / 2h hrs ago
EU BACKS CRYPTO ANTI-MONEY LAUNDERING RULES
The rules, opposed by major U.S. exchange Coinbase Global Inc , would also
require crypto firms to report suspicious transactions to regulators to help
crack down on dirty money, the European Parliament and Council said in a
statement on Wednesday.
* Policy / 2h hrs ago
SEBI CLEARS FPI TRADES IN COMMODITIES DERIVATIVES
Sebi on Wednesday allowed foreign portfolio investors (FPIs) to participate
in the country's commodities derivatives markets.
* Banking / 2h hrs ago
KARNATAKA BANK RAISES INTEREST RATES ON DEPOSITS
New Delhi, Jun 29 (PTI) Karnataka Bank has raised the interest rates on
deposits of below Rs 2 crore to up to 5.50 per cent per annum to be effective
from next month. The bank said it has increased the deposit rates by 10 basis
points (0.
* Banking / 2h hrs ago
BANKS ARE RETHINKING PARTNERSHIPS WITH CREDIT-CARD BASED FINTECH FIRMS
RBI’s directive on June 20 barring prepaid payment instruments (PPIs) from
being loaded through credit lines has further acted as a catalyst to concerns
among banks and the fintech industry, sources added.
* Financial Services / 2h hrs ago
₹2.5K CR BOOST FOR AGRICULTURE CREDIT SOCIETIES
The Cabinet on Wednesday approved computerisation of 63,000 functional
Primary Agriculture Credit Societies (PACS) across the country at the cost of
Rs 2,516 crore in five years.
* Insurance / 2h hrs ago
INSURERS TO PICK UP WASHED OUT T20 MATCH’S RS 45CR TAB
Hitherto the biggest uncertainty has been the weather, but the pandemic has
added a new dimension. Unfortunately, there is a blanket exclusion of
pandemic risks, not just for Covid but for any future epidemic as well. Any
cancellations on account of a lockdown are not covered. However, there is an
ongoing discussion with international underwriters on covering future
pandemics.
View More
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CRYPTOCURRENCY
* EU BACKS CRYPTO ANTI-MONEY LAUNDERING RULES
* SHIBA INU BURNS ABOUT 400 TRILLION TOKENS TO CAP SUPPLY; BLEEDS 13%
* INSIGHT-CRYPTO CRASH THREATENS NORTH KOREA'S STOLEN FUNDS
* CRYPTO WINTER: WHY THIS BITCOIN BEAR MARKET IS DIFFERENT FROM THE PAST
* ELECTRICITY USED TO MINE BITCOIN DECREASED SHARPLY AS CRYPTO CRISIS WIDENS
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BFSI VIDEOS
* CREDIT DEMAND TO REMAIN POSITIVE IN SPITE OF RATE HIKE, NO IMMEDIATE
SLOWDOWN, SAYS UMESH REVANKAR
Umesh Revankar, MD and CEO, Shriram Transport Finance Co. Ltd. at the ETBFSI
FinNext Summit 2022 spoke about how the rising inflation concerns might
affect credit demand in the country. "It is too early to comment on the
increase in rate and demand getting impacted but the economy is in uptake and
when that happens demand for credit generally does not come down because of
interest rate hike. The economy will be able to absorb the increase in
lending rates, hence I don't see any slow down in demand immediately," he
said. Apart from this he also briefly spoke about how the NBFC became the
first one to use block chain for issuing deposit certificates in the industry
and how it plans to continue leading when it comes to digitizing processes.
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