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Editor's View
THE FEAR OF RECESSION..
While the US Fed may dispute whether its economy is in recession or not, the
elephant in the room remains the sticky inflation. Fears of more Covid-led
lockdowns in China and supply-side disruptions, mainly due to the Russian
invasion of Ukraine, mean that inflation may not come down in a hurry an the US
Fed is likely to do whatever it takes to clamp down on inflation.
LATEST NEWS
* 2m mins ago Axis Mutual Fund probe: IT raids Viresh Joshi, the former fund
manager
* 2m mins ago RBI meet, auto sales among 8 key factors that may guide markets
this week
* 3m mins ago Wickremesinghe says IMF accord pushed back after unrest
* 5m mins ago GSDP likely to grow at 8.5% in 2022-23, says finance minister
* 8m mins ago Mcap of eight of top 10 firms jumps over Rs 1.91 lakh cr; Bajaj
Finance shines
* 8m mins ago HDFC raises home loan rates by 25 bps from Monday
* 3h hrs ago Linkage of UPI with overseas countries and its impact on cross
border neo banks
* 3h hrs ago Role of P2P lending in empowering SMEs in India
View More
Blog
WHY BUYING INDIVIDUAL HEALTH COVER IS A GOOD IDEA IN ADDITION TO GROUP HEALTH
When you are insured under group health cover, you will be able to access free
health insurance without medical check-ups. You will also receive coverage
against pre-existing illnesses and will not have to wait for a certain duration
before you can avail the benefits of insurance, since you are covered under
group health insurance from the day you start your job.
Industry
BFSI THIS WEEK : FED, RBI, FINTECHS, Q1 AND MORE
This week saw significant policy developments like US Fed's rate hike and RBI's
discussion paper on sustainable finance. RBI defending rupee, Rupay-UPI credit
card linkage, Q1 results, volatile currency markets, etc were among the top
headlines this week. ETBFSI brings to you a gist of the top developments of the
week :
Financial Services
MASTERCARD ENABLES 2 LAKH ONLINE MERCHANTS FOR CARD-ON-FILE TOKENISATION,
CREATES 90 MILLION TOKENS
Mastercard has worked with 45,000 merchants, 34 issuing banks, 10 acquiring
banks, and 30-plus token requestors (including all major payment aggregators) to
create 90 million tokens for its users since December 2021.
Banking
INDIAN BANKS TO GRADUALLY DECREASE EXPOSURE TO CARBON-INTENSIVE SECTORS
The Reserve Bank of India called for a board-approved policy on climate risk
management in its recently released discussion paper.
Banking
MILLENNIALS TO DRIVE ACCELERATED GROWTH FOR NEOBANKS IN INDIA: REPORT
Grant Thornton Bharat's Banking Matrix report highlighted the growth prospects
of the Indian neobanking market and assesses that the future consumer trends
will be dictated by the first generation of truly digital natives. The report
also talks about the key challenges that neo banks are currently facing in
India. Here are the highlights.
NBFC
HDFC LTD NET PROFIT RISES 22% YOY IN JUNE QUARTER
Mortgage lender HDFC Ltd today announced its results for the first quarter while
reporting a standalone profit of Rs. 3669 crore and a 66% increase in loan
disbursements.
View More
TOP FEATURED STORIES
Editor's View / 1 day ago
THE FEAR OF RECESSION..
While the US Fed may dispute whether its economy is in recession or not, the
elephant in the room remains the sticky inflation. Fears of more Covid-led
lockdowns in China and supply-side disruptions, mainly due to the Russian
invasion of Ukraine, mean that inflation may not come down in a hurry an the US
Fed is likely to do whatever it takes to clamp down on inflation.
* Industry
BFSI THIS WEEK : FED, RBI, FINTECHS, Q1 AND MORE
* Blog
WHY BUYING INDIVIDUAL HEALTH COVER IS A GOOD IDEA IN ADDITION TO GROUP HEALTH
* Financial Services
'THERE IS A DISCONNECT BETWEEN EVERYDAY FINANCE AND GREEN FINANCE' CHIEF
SUSTAINABILITY OFFICER, MAS
* Banking
NOT ALL BANK SYSTEMS ARE MEANT TO BE SUPPORTED BY CLOUD: CELINE LE COTONNEC
View More
BLOG
* Mayank Goyal - Founder and CEO, moneyHOP
LINKAGE OF UPI WITH OVERSEAS COUNTRIES AND ITS IMPACT ON CROSS BORDER NEO
BANKS
* Rajat Gandhi - Founder and CEO, Faircent
ROLE OF P2P LENDING IN EMPOWERING SMES IN INDIA
* Raghavendra Rao - Chief Distribution Officer, Future Generali Insurance India
Ltd.
WHY BUYING INDIVIDUAL HEALTH COVER IS A GOOD IDEA IN ADDITION TO GROUP HEALTH
* Sanchay Kumar Sinha - Country Head, Liabilities & Branch Banking, South
Indian Bank
HOW DOES GEN Z LIKE TO FULFILL ITS BANKING NEEDS?
* Ashok Haldia - Past Secretary, The Institute of Chartered Accountants of
India
BFIS SHOULD GEAR UP TO FACE CLIMATE CHANGE CHALLENGES
* Abhay Bhutada - MD, Poonawalla Fincorp Limited
HOW NEW-AGE NBFCS ARE CHANGING THE SMALL BUSINESS LOAN LANDSCAPE IN INDIA
View More
FINTECH
Fintech / 1 day ago
FAKE LOAN APPS: LOC AGAINST KINGPINS IN CHINA; RS 6 CRORE DEPOSITED EVERY THIRD
DAY
City cyber police have unmasked loan app fraudsters by digging out their
photographs posted on social media. The arrest of 14 accused last month,
including three women, has helped bust a Rs 350 crore pan-India loan app racket
which has defrauded lakhs since 2018.
* Fintech / 1 day ago
RURAL FINTECH STARTUP JAI KISAN RAISES RS 390 CR IN SERIES-B ROUND
* Fintech / 2 days ago
DIGITAL PAYMENTS RECORD 29% ANNUAL GROWTH AT MARCH-END 2022: RBI
* Fintech / 2 days ago
US REGULATORS ORDER VOYAGER DIGITAL TO STOP 'FALSE AND MISLEADING' DEPOSIT
INSURANCE CLAIMS
* Fintech / 2 days ago
RAISE FINANCIAL FOUNDER PRAVIN JADHAV ASKS PAYTM TO ‘STEP BACK’ FROM POACHING
HIS TEAM MEMBERS
View More
POLICY
Policy / 2 days ago
US FEDERAL RESERVE TO RAISE RATES BY ANOTHER 200 BPS IN 2022: REPORT
According to reports by Yes Bank and Acuite ratings, while the currency market
rejoiced Fed's policy rate hike, the currency market is to fluctuate further,
with USDINR anticipated to depreciate to 81-81.50 level by March 2023.
* Policy / 2 days ago
RBI MAY RAISE REPO RATE BY 35 BPS IN NEXT WEEK'S POLICY REVIEW: S&P
* Policy / 2 days ago
RBI GIVES FRESH RAY OF HOPE TO PAYMENT AGGREGATOR LICENSE ASPIRANTS
* Policy / 2 days ago
RBI STICKS TO OCTOBER 1 DEADLINE FOR CARD TOKENISATION
* Policy / 2 days ago
CATCH EM' EARLY: HOW SEBI IS REGULATING FINTECH FIRMS' NASCENT BOND PLAY
View More
NBFC
* HDFC RAISES HOME LOAN RATES BY 25 BPS FROM MONDAY
* CHOLAMANDALAM INVESTMENT AND FINANCE REPORTS Q1 STANDALONE PROFIT AT RS
565.66 CR
* HDFC TO FULLY ACQUIRE VENTURE CAPITAL ARM BY BUYING SHARES FROM SBI
* HDFC LTD NET PROFIT RISES 22% YOY IN JUNE QUARTER
* PNB HOUSING FIN'S RS 2,000 CRORE RIGHTS ISSUE EXPECTED TO BE COMPLETE BY
DECEMBER: OFFICIAL
* INCRED AND KKR INDIA FINANCIAL SERVICES COMPLETE MERGER
* PNB HOUSING FINANCE NET PROFIT DIPS 3.4 PC TO RS 235 CRORE IN APRIL-JUNE
* MAHINDRA FINANCE Q1 PROFIT AT RS 240 CR
* ADANI-BACKED NBFC PLANS RS 1,500 CRORE-IPO AS SOON AS 2024
* BAJAJ FINSERV Q1 RESULTS: PROFIT SURGES 57% YOY TO RS 1,309 CRORE
* HOMEFIRST FINANCE NET PROFIT RISES 46 PC TO RS 51 CR IN JUNE QUARTER
* POONAWALLA FINCORP Q1 RESULTS: PROFIT JUMPS 117% YOY TO RS 141 CRORE
* IIFL FINANCE NET PROFIT RISES 24 PC AT RS 330 CRORE IN JUNE QUARTER
* BAJAJ FINANCE PROFIT MORE THAN DOUBLES TO RS 2,596 CR IN JUNE QUARTER
* NIX LICENCE OF NON-BANKING FINANCE COMPANIES LINKED TO CHINESE LOAN APPS:
ENFORCEMENT DIRECTORATE TO RBI
* NCFDC, THE DIGITAL BACKBONE OF UCBS, TO START OPERATIONS IN EARLY 2023
* MICRO FINANCE INSTITUTIONS' SECURITISATION VOLUME MORE THAN DOUBLES TO RS
3,500 CRORE IN Q1: REPORT
* HDFC TO RAISE UP TO RS 11,000 CRORE BY ISSUING BONDS THIS MONTH
* IIFL FINANCE APPOINTS GAURAV SHARMA AS CHIEF TECHNOLOGY OFFICER
* PNB HOUSING UP 8% ON SETTLEMENT WITH SEBI OVER CARLYLE CASE
View More
MORE FROM ETBFSI
* Financial Services / 2m mins ago
AXIS MUTUAL FUND PROBE: IT RAIDS VIRESH JOSHI, THE FORMER FUND MANAGER
Sources said that the raids which commenced on Saturday included questioning
of Joshi and the brokers in the said case. These sources added that the IT
action is based on the information shared by SEBI.
* Financial Services / 2m mins ago
RBI MEET, AUTO SALES AMONG 8 KEY FACTORS THAT MAY GUIDE MARKETS THIS WEEK
Ajit Mishra, VP - Research, Religare Broking, said that participants should
align their positions and look for buying opportunities on dips. All the
sectors are contributing to the move. "We believe the focus should still be
on the top performers rather than expecting a turnaround in the beaten-down
names," he added. "We reiterate our preference for auto, FMCG, banking and
financials and remain selective in others."
* Industry / 3m mins ago
WICKREMESINGHE SAYS IMF ACCORD PUSHED BACK AFTER UNREST
Wickremesinghe, in his first speech since he was elected by parliament, said
even though he when prime minister had aimed to reach an agreement by early
August, it has now been pushed back by a month, the report said.
* Industry / 5m mins ago
GSDP LIKELY TO GROW AT 8.5% IN 2022-23, SAYS FINANCE MINISTER
The gross state domestic product (GSDP) of Odisha is expected to grow at
8-8.5% during the 2022-23 financial year, finance minister Niranjan Pujari
told the assembly on Saturday.In 2021-22, the GSDP grew at 10.1%, according
to the Economic Survey, compared to 8.
* Financial Services / 8m mins ago
MCAP OF EIGHT OF TOP 10 FIRMS JUMPS OVER RS 1.91 LAKH CR; BAJAJ FINANCE
SHINES
New Delhi, Jul 31 (PTI) Eight of the top 10 valued firms added Rs 1,91,622.95
crore to their market valuation last week, with Bajaj Finance and Tata
Consultancy Services emerging as lead gainers. The 30-share BSE Sensex jumped
1,498.02 points or 2.67 per cent last week.
* NBFC / 8m mins ago
HDFC RAISES HOME LOAN RATES BY 25 BPS FROM MONDAY
The country’s largest housing finance company, HDFC, has increased its retail
prime lending rate on home loans by 25 basis points (bps) from August 1,
2022. This is the fifth rate raise by the corporation in two months.
* Blog / 3h hrs ago
LINKAGE OF UPI WITH OVERSEAS COUNTRIES AND ITS IMPACT ON CROSS BORDER NEO
BANKS
Displaying a 10% month-on-month (MoM) growth over the last 5 years, UPI is
one of the most advanced domestic real-time payment methods across the world.
Therefore, as the global aspirations of Indian businesses and citizens become
stronger, it is only natural for UPI to look at international expansion. One
of the primary avenues to explore that is through remittances. India’s inward
remittances are at US$ 85.6 billion for the 2022 fiscal.
* Blog / 3h hrs ago
ROLE OF P2P LENDING IN EMPOWERING SMES IN INDIA
P2P lending makes it possible for people from different socio-economic
backgrounds to avail small-ticket loans, which are often not possible at
banks due to the lack of information on their financial stability. However,
with automated and digital processes, P2P platforms make credit available to
people across the country.
View More
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CRYPTOCURRENCY
* TOP CRYPTO EXCHANGE BLOCKCHAIN.COM CUTS 25% OF ITS WORKFORCE
* CRYPTO LOGICAL EXTENSION OF FINTECH, ITS USE AS ASSET, CURRENCY A CHALLENGE:
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