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ETBFSI Newsletter | Monday, March 27, 2023


Daily Newsletter

Top Stories



Explained: How big is the rot in the US banking crisis
As the Fed raised rates to 4.5 per cent, the value of banks' bond portfolios
fell, resulting in $620 billion in unrealised mark-to-market losses acros..




What are the key cybersecurity trends in banking in 2023?
Banks will increasingly take an ecosystem approach to address cybersecurity by
implementing strategies and initiatives across business and product lin..




Banks may see more deposit flows as debt MFs tax benefit goes
From the next fiscal, debt mutual funds will no longer be more tax-efficient
than bank fixed deposits, potentially leading to outflows from long-term ..


 

Banking



Public sector banks to submit plan to deal with key business risks
Public sector banks (PSBs) assured finance minister Nirmala Sitharaman at a
review meeting on Saturday that the Indian banking system remains robust a..




Banking stress under watch for credit crunch: Fed official
Authorities around the world are on high alert for the fallout from recent
turmoil at banks following the collapse in the United States of Silicon Val..




Valley National Bancorp bidding for Silicon Valley Bank
The FDIC which now controls the Silicon Valley Bank assets, when asked for a
comment on the report said it is not confirming or commenting on names be..




FM Nirmala Sitharaman tells PSBs to flag stress points in business, stay alert
Finance Minister Nirmala Sitharaman has urged state-run banks to remain
vigilant, stating that they should review their business models closely to ide..


 

Insurance



Medi Assist to acquire Raksha Insurance TPA in expansion push
"This is the largest M&A deal so far in the TPA space. In fact, Raksha will add
almost 35% or more to our existing retail premiums. They will give us ..


 

NBFC



Reliance Capital lenders fear recovery below liquidation value
Lenders of bankrupt Reliance Capital fear their loan recovery could fall below
the liquidation value of `12,500-13,000 crore for the financial service..




Measures taken by IIFCL to cut NPAs; help it make pioneer in infra finance:
Parliamentary panel
Considering the gravity of risk involved in calculating the viability of road
projects on the basis of evaluation and projections made by traffic cons..




RCAP resolution plan hits roadblock as bidders upset over another auction plan
The plan of debt-ridden Reliance Capital's lenders to conduct a second round of
auction has hit a roadblock, as bidders are apparently not inclined to..


 

Fintech



Paytm wins regulator extension for payment aggregator licence application
The banking regulator had in November last year asked Paytm to reapply for the
licence within 120 days and stopped it from signing up new online merch..




DeFi 2.0: New era of decentralized finance emerges with enhanced security,
scalability, and interoperability
DeFi 2.0 is ushering in the next wave of innovation, leveraging new
technologies, security, cross-chain protocols, and NFTs to build more powerful
and..


 

Financial Services



Dollar steady as banking crisis fears keep investors jittery
The dollar index, which measures the currency against six rivals, was up 0.078%
at 103.060, having gained 0.5% on Friday amid banking jitters, with sh..




Global banking news, F&O expiry, FPI flows among 7 key drivers for D-St this
week
The unexpected hike in the securities transaction tax on futures and options and
tax amendments in debt funds further turned the sentiment sour.The..




Is gold the safest bet amid ongoing banking crisis and recession fears?
The sharp rally in prices was also associated with the uncertainty about the US
Fed's rate hike moves. There were speculations that the crisis in the..


 

Policy



RBI may go in for 25 basis point interest rate hike in monetary policy meet next
month, say experts
With retail inflation remaining above the comfort level of 6 per cent and most
global peers including US Fed continuing hawkish stance, the Reserve Ba..




Credit Suisse faces possible disciplinary proceedings: Switzerland's banking
regulator
"CS had a cultural problem that translated into a lack of accountability," Finma
President Marlene Amstad told the Sunday newspaper. "Often it was not..


 

Industry



IMF chief warns risks to financial stability have increased
International Monetary Fund chief Kristalina Georgieva warned on Sunday that
risks to financial stability had increased and stressed "the need for vig..




Demand for credit from MSME soars, defaults dip: Cibil data
According to the latest edition of the MSME Pulse report, brought out by Small
Industries Development Bank (SIDBI) and TransUnion Cibil, credit demand..




Fed's Kashkari: Banking stress brings US closer to recession
Kashkari, who has been among the most hawkish Fed policymakers in advocating
higher interest rates to fight inflation, said it remained too soon to ga..

 

 





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