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ACCEPT THE UPDATED PRIVACY & COOKIE POLICY Dear user, ET BFSI privacy and cookie policy has been updated to align with the new data regulations in European Union. Please review and accept these changes below to continue using the website. You can see our privacy policy & our cookie policy. We use cookies to ensure the best experience for you on our website. If you choose to ignore this message, we'll assume that you are happy to receive all cookies on ET BFSI. * Analytics * Necessary * Newsletter NameProviderExpiryTypePurpose Google AnalyticsGoogle1 YearHTTPSTo track visitors to the site, their origin & behaviour.iBeat AnalyticsIbeat1 YearHTTPSTo track article's statisticsGrowthRx AnalyticsGrowthRx1 YearHTTPSTo track visitors to the site and their behaviour NameProviderExpiryTypePurpose optoutTimes Internet1 YearHTTPSStores the user's cookie consent state for the current domainPHPSESSIDTimes Internet1 dayHTTPSStores user's preferencesaccessCodeTimes Internet2.5 HoursHTTPSTo serve content relevant to a regionpfuuidTimes Internet1 YearHTTPSUniquely identify each userOSTIDTimes Internet1 YearHTTPSOauth secure tokenOSSOIDTimes Internet1 YearHTTPSOauth user identifierOSTPID Times Internet1 YearHTTPSused to sync accross portalsfpidTimes Internet1 YearHTTPSBrowser Fingerprinting to uniquely identify client browsers NamePurpose Daily NewsletterReceive daily list of important newsPromo MailersReceive information about events, industry, etc. I've read & accepted the terms and conditions NEWS SITES * Auto News * Retail News * Health News * Telecom News * Energy News * CIO News * Real Estate News * Brand Equity * CFO News * IT Security News * Government News * Hospitality News * HR News * Legal News * ET TravelWorld News * Infra News * B2B News * CIOSEA News * HRSEA News * HRME News Upcoming Event: CFO Meet & discussion on Revised Companies Act Sign in/Sign up * Follow us: * * * * * * * ETBFSI Exclusive * BANKING * INSURANCE * InsurTech * NBFC * FINTECH * Payments * Digital Lending * RegTech * Open API * BFSI Videos * Editor's View * Brand Solutions * NBFC CONNECT 2023 * BFSI CONCLAVE 2023 BFSI : Serving the Changing World * ETBFSI AWARDS 2023 * ACCELERATE END-TO-END CUSTOMERS' JOURNEYS WITH AN AGILE LENDING SOLUTION * GLOBAL INSURANCE BROKERS PVT. LTD * ETBFSI.COM CONVERGE Thriving in the world of digital * ETBFSI CXO CONCLAVE Connecting Financial Institutions Digitally * LAY THE GROUNDWORK TO ACCELERATE BANKING INNOVATION * ETBFSI FINNEXT SUMMIT The Future of NBFCs and FinTechs * SIDBI-ET MSMES/STARTUPS Roudtable Discussion * REIMAGINE NEXT * LEARNFEST * REIMAGINE NEXT - THE FUTURE OF LEARNING * ETBFSI.COM CONVERGE BFSI: The world of Hyper-personalization * ETBFSI EXCELLENCE AWARDS 2021 AWARDS FOR EXCELLENCE IN INNOVATION * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI * 3RD EDITION OF ETBFSI CXO CONCLAVE Unlocking the BFSI Potential * THE DIGITAL NEXT: SERIES 2.1 Live Virtual Summit * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021 * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021 * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY * Millennial Finance * FinTech Diary * ETBFSI Research * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * BFSI Tech Tales * Innovation Masters * POLICY * FINANCIAL SERVICES * FinNext Summit 2022 x Fintech PMLA AMBIT GIVES GOVT MORE POWER TO TRACK CRYPTO TRANSFERS OUTSIDE INDIA The government move deals another nail in the coffin for the already moribund industry, move raises compliance requirements on crypto firms while deterring investors further. LATEST NEWS * 5h hrs ago Some fintechs will fail soon, we’ll invest after that: QED * 5h hrs ago Billions worth of crypto trades at risk as bank shutdowns take toll * 5h hrs ago Bank of Baroda, Union Bank of India revise home loan interest rates * 4h hrs ago BajajCapital appoints Shekhar Sood as the new CFO * 4h hrs ago Sensex surges 344 points in early trade; Nifty rises 108 points * 4h hrs ago Adani Group prepays $2.15 billion share-backed financing, $500 million bridge loan for Ambuja acquisition * 4h hrs ago Coinbase says it has about $240 million cash balance with Signature Bank * 4h hrs ago Signature Bank becomes next casualty of banking turmoil after Silicon Valley Bank View More Fintech TOP PAYMENT TRENDS TO WATCH OUT FOR IN FY24 Keeping with the winds of change around the globe, India has placed great emphasis on development of the country's digital infrastructure, in terms of usability, interoperability and accessibility. Digital payments in India has seen tremendous growth and there has been many developments in the space, both on technology side and regulatory side in the last financial year. ETBFSI brings to you the top payment trends to look out for in FY24. Banking WILL MORE FOREIGN BANKS FOLLOW THE CITI UNIT OUT OF INDIA? Rising competition and stringent regulations make the business unviable for foreign banks in India. Industry RBI KEEPS NUE APPLICANTS GUESSING ABOUT PLAN TO CREATE NPCI RIVALS After around two years after inviting applications from corporates including Reliance, Tata and Airtel and banks including ICICI and Axis, the plan remains a non-starter. An applicant says the central bank should clarify whether it it going ahead with the plan. NBFC WHAT IS LEAN SCHEME: GOVT’S ROADMAP TO GLOBAL COMPETITIVENESS FOR MSMES Government will contribute 90% of implementation cost for handholding and consultancy fees under the sheme. There will be an additional contribution of 5% for the MSMEs which are part of SFURTI clusters, owned by Women/SC/ST and located in NER. Banking YES BANK TO STAY VOLATILE AS THREE-YEAR LOCK-IN ON SHAREHOLDING LIFTS While the bank may be coming out of its troubles, its valuations are not worth it when looking at its ROA and RoE. The banking sector offers many other options for investors, and the bank may not be the best choice, analysts say. Financial Services REIMAGING PRICING MODEL FOR THE FINANCIAL SERVICES INDUSTRY But as we move forward, business leaders now want leaner cost models with high degree of variability in the cost structure directly proportional to business outcomes and are increasingly turning to Pay-per-use or consumption based pricing model. According to an IDC survey, 61% of enterprises agreed that their organizations are aggressively shifting toward paying for technology services based on consumption. View More TOP FEATURED STORIES NBFC / 2 days ago WHAT IS LEAN SCHEME: GOVT’S ROADMAP TO GLOBAL COMPETITIVENESS FOR MSMES Government will contribute 90% of implementation cost for handholding and consultancy fees under the sheme. There will be an additional contribution of 5% for the MSMEs which are part of SFURTI clusters, owned by Women/SC/ST and located in NER. * Banking EXPLAINED: INDIA’S GOLD LOAN MARKET, SHARE OF BANKS AND NBFCS * Fintech AXIS BANK'S SAMEER SHETTY SHARES KEY POINTS TO WATCH FOR IN CREDIT UNDERWRITING * Banking AMID GLOBAL LAYOFFS, HERE’S HOW BFSI SECTOR PERFORMED AS EMPLOYER * Financial Services UPI-PAYNOW LAUNCH: HOW IT WILL WORK, WHICH BANKS FACILITATE PAYMENT? View More BLOG * Rohit Garg - Co-Founder & CEO, SmartCoin LENDING ECOSYSTEM UNDER RBI SCRUTINY | STANDARDS, NORMS, INDUSTRY & CONSUMER IMPACT AND THE WAY FORWARD * FROM HIGH-STAKES TO HIGH-GROWTH: HOW BOOTSTRAPPING CAN BE A GAME CHANGER FOR INDIAN STARTUPS * Syed Hasan Jafar - Associate Professor, HOD of Finance and Director of Bloomberg Lab at Woxsen University. INDIAN FINTECH ROADMAP: PROJECTION FOR THE NEXT DECADE * Mr. Rikhil Shah - CFO, SBI General Insurance CFO IMPERATIVES AMIDST THE CHANGING LANDSCAPE OF INDIA'S INSURANCE SECTOR * Nilesh Sathe - Former Member, IRDAI UNION BUDGET IS A TOTAL WHITEWASH FOR INSURANCE SECTOR * Ankur Nijhawan INSURANCE IN FOCUS: 2022 TRENDS AND 2023 OUTLOOK View More FINTECH Fintech / 1 hr ago TOP PAYMENT TRENDS TO WATCH OUT FOR IN FY24 Keeping with the winds of change around the globe, India has placed great emphasis on development of the country's digital infrastructure, in terms of usability, interoperability and accessibility. Digital payments in India has seen tremendous growth and there has been many developments in the space, both on technology side and regulatory side in the last financial year. ETBFSI brings to you the top payment trends to look out for in FY24. * Fintech / 1 hr ago COINBASE SAYS IT HAS ABOUT $240 MILLION CASH BALANCE WITH SIGNATURE BANK * Fintech / 4 hrs ago UNION IT MINISTER TO MEET INDIAN STARTUPS AMID CONCERNS OVER SILICON VALLEY BANK COLLAPSE * Fintech / 4 hrs ago PMLA AMBIT GIVES GOVT MORE POWER TO TRACK CRYPTO TRANSFERS OUTSIDE INDIA * Fintech / 1 day ago INVESTORS, FINTECH COMPANIES HELP OUT CASH-CRUNCHED STARTUPS View More POLICY Policy / 4 hrs ago INFLATION EXPECTED TO COME DOWN OVER THE YEAR: RBI MPC MEMBER ASHIMA GOYAL "Government supply-side action coordinated with a flexible inflation targeting regime has kept Indian inflation rates lower than other countries and our own past averages even in this period of major adverse external supply shocks," she told PTI in a telephonic interview. * Policy / 1 day ago REGULATORS FACE RECKONING FOR WEEK OF MAYHEM AS AS BANKS TOPPLE; A FRAUGHT DEBATE BEGINS * Policy / 4 days ago CENTRE BRINGS CRYPTO, VIRTUAL DIGITAL ASSETS UNDER PMLA * Policy / 5 days ago US FED MULLS BIGGER RATE HIKES TO COOL US ECONOMY * Policy / 5 days ago UPI ACCOUNTS FOR 75% OF TOTAL DIGITAL PAYMENTS IN INDIA: RBI GUV View More NBFC * BAJAJCAPITAL APPOINTS SHEKHAR SOOD AS THE NEW CFO * WHAT IS LEAN SCHEME: GOVT’S ROADMAP TO GLOBAL COMPETITIVENESS FOR MSMES * ROLE OF AI AND ANALYTICS FOR NBFCS: FROM ONBOARDING CUSTOMERS TO LOAN COLLECTION * MUTHOOT FINANCE EXTENDS NPS SCHEME TO DOMESTIC, NRI CUSTOMERS * RELIGARE FINVEST CONCLUDES ONE-TIME SETTLEMENT WITH LENDERS, RESOLVES ALL LEGACY ISSUES * TWO ENTITIES OFFLOAD SHRIRAM FINANCE'S SHARES WORTH RS 1,329 CR * LAND COST MAKING IT HARDER TO SUSTAIN REAL ESTATE PROJECTS: TATA REALTY MD & CEO * THESE 3 BANKS, NBFCS OFFER HIGHER FD INTEREST RATE FOR WOMEN INVESTORS * JIO FINANCIAL GEARS UP FOR LISTING, HIRES HITESH SETHIA AS CEO * SVASTI MICROFINANCE RAISES USD 5 MILLION FROM IIX'S WOMEN'S LIVELIHOOD BOND 5, THE WORLD'S FIRST ORANGE BOND ISSUANCE * NCLAT REJECTS SHAREHOLDERS' PLEA AGAINST MCDOWELL HOLDINGS' INSOLVENCY PROCEEDINGS * BAJAJ FINANCE REVISES FD RATES UP TO 35 BPS: NOW EARN RETURNS UP TO 8.20 PER CENT P.A. * BAJAJ FINANCE REVISES FD RATES UP TO 35 BPS: NOW EARN RETURNS UP TO 8.20 PERCENT P.A. * INDIABULLS HOUSING TO CUT RISK, GROW CO-LENDING IN NEW AVATAR * INDIABULLS HOUSING TO CUT RISK, GROW CO-LENDING IN NEW AVATAR * SUPREME COURT ASKS AUTHUM INVESTMENTS AND INFRASTRUCTURE TO IMPLEMENT RESOLUTION PLAN FOR RELIANCE HOME FINANCE * NCLT OKAYS MERGER OF TWO HDFC ARMS WITH HDFC CAPITAL ADVISORS * NCLAT PERMITS SECOND ROUND OF AUCTION FOR THE SALE OF RELIANCE CAPITAL * ‘CLUSTER-ORIENTED APPROACH WITH FLEXIBLE CREDIT POLICIES’: PROFECTUS CAPITAL CEO’S MANTRA FOR SME LENDING * AUTHUM PLEA SEEKS TO STALL NARCL’S BID FOR SREI COS View More MORE FROM ETBFSI * Fintech / 5h hrs ago SOME FINTECHS WILL FAIL SOON, WE’LL INVEST AFTER THAT: QED * Fintech / 5h hrs ago BILLIONS WORTH OF CRYPTO TRADES AT RISK AS BANK SHUTDOWNS TAKE TOLL The network’s presence helped fuel the institutional adoption boom that made the most recent crypto bull market possible. Its shutdown threatens to stifle growth, albeit perhaps temporarily, while new alternatives ramp up. * Banking / 5h hrs ago BANK OF BARODA, UNION BANK OF INDIA REVISE HOME LOAN INTEREST RATES Bank of Baroda and Union Bank of India have revised their loan marginal cost of lending rates (MCLR). Customers loan linked to MCLR is set to rise again. Rates of interest may differ depending on the customer's credit score. * NBFC / 4h hrs ago BAJAJCAPITAL APPOINTS SHEKHAR SOOD AS THE NEW CFO Shekhar brings a wealth of experience to BajajCapital, having held senior finance positions at leading organizations including Socomec Group, where he served as the CFO India and Business Controller for the Asia-Pacific region, and Grant Thornton. * Financial Services / 4h hrs ago SENSEX SURGES 344 POINTS IN EARLY TRADE; NIFTY RISES 108 POINTS Mumbai, Mar 13 (PTI) The equity market opened on a strong note on Monday, with benchmark index Sensex jumping 344 points amid positive investor sentiments and mixed global cues. The 30-share BSE Sensex surged 344.92 points or 0.58 per cent to 59,480. * Industry / 4h hrs ago ADANI GROUP PREPAYS $2.15 BILLION SHARE-BACKED FINANCING, $500 MILLION BRIDGE LOAN FOR AMBUJA ACQUISITION Embattled Adani Group on Sunday said it has repaid loans aggregating $2.65 billion to complete a prepayment programme ahead of the March 31 deadline to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. * Fintech / 4h hrs ago COINBASE SAYS IT HAS ABOUT $240 MILLION CASH BALANCE WITH SIGNATURE BANK State regulators closed New York-based Signature Bank on Sunday, the third largest failure in US banking history, two days after authorities shuttered Silicon Valley Bank in a collapse that stranded billions in deposits. * Banking / 4h hrs ago SIGNATURE BANK BECOMES NEXT CASUALTY OF BANKING TURMOIL AFTER SILICON VALLEY BANK The Federal Deposit Insurance Corporation (FDIC) took control of Signature, which had $110.36 billion in assets and $88.59 in deposits at the end of last year, according to New York state's Department of Financial Services. All of the depositors of Signature Bank and Silicon Valley Bank will be made whole, and "no losses will be borne by the taxpayer," the U.S. Treasury Department and other bank regulators said in a joint statement. View More SUBSCRIBE TO OUR NEWSLETTER Join the community of 2M+ industry professionals I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. BFSI VIDEOS * PRIYA DESHMUKH GILBILE OF MANIPALCIGNA HEALTH ON PROGRESS, GROWTH IN INSURANCE Watch a quick chat with Priya Deshmukh Gilbile, COO, ManipalCigna Health Insurance at the 7th ETCIO BFSI Digital Conclave 2023. * 6 days ago ANAND PEJAWAR OF SBI GENERAL INSURANCE ON 3 THINGS THAT DRIVE INNOVATION * 12 days ago DEPUTY DIRECTOR GENERAL OF UIDAI TALKS ABOUT DATA, TRANSFORMATION IN BFSI SECTOR * 12 days ago TRILOGUE CHAT: DRIVING INTELLIGENT OBSERVABILITY AND AGILITY FOR A PROACTIVE CUSTOMER EXPERIENCE View More CRYPTOCURRENCY * PMLA AMBIT GIVES GOVT MORE POWER TO TRACK CRYPTO TRANSFERS OUTSIDE INDIA * CRYPTO SHAKEN AS SVB EXPOSURE DEPEGS $37 BILLION STABLECOIN * CENTRE BRINGS CRYPTO, VIRTUAL DIGITAL ASSETS UNDER PMLA * INDIA IMPOSES MONEY LAUNDERING PROVISIONS ON CRYPTO SECTOR * BINANCE EXECS' TEXTS, DOCUMENTS SHOW PLAN TO AVOID US SCRUTINY * BITCOIN SINKS TO TWO-WEEK LOW AS SILVERGATE FALLOUT HURTS CRYPTO * INDIA ASKS IMF, FSB TO PREPARE TECHNICAL PAPER ON CRYPTO ASSETS * EU CALLS FOR FAST TRACK CRYPTO CAPITAL RULES FOR BANKS * EU CALLS FOR FAST-TRACK CRYPTO CAPITAL RULES FOR BANKS View More EDITOR'S PICK * 55 mins ago BAJAJCAPITAL APPOINTS SHEKHAR SOOD AS THE NEW CFO * 1 hr ago TOP PAYMENT TRENDS TO WATCH OUT FOR IN FY24 * 4 hrs ago WILL MORE FOREIGN BANKS FOLLOW THE CITI UNIT OUT OF INDIA? * 4 hrs ago PMLA AMBIT GIVES GOVT MORE POWER TO TRACK CRYPTO TRANSFERS OUTSIDE INDIA * 4 hrs ago RBI KEEPS NUE APPLICANTS GUESSING ABOUT PLAN TO CREATE NPCI RIVALS MOST READ * 2 days ago YES BANK TO STAY VOLATILE AS THREE-YEAR LOCK-IN ON SHAREHOLDING LIFTS * 5 days ago JIO FINANCIAL GEARS UP FOR LISTING, HIRES HITESH SETHIA AS CEO * 7 days ago HOW CROSS BORDER PAYMENTS CAN BE A $16 BN OPPORTUNITY? * 4 days ago HOW IS THE BOND REPAYMENT SCHEDULE OF ADANI GROUP? * 5 days ago INTERNATIONAL WOMEN'S DAY 2023: WOMEN IN BFSI WHO ARE BREAKING THE GLASS CEILING * Industry News * Auto News * Retail News * Health News * Telecom News * Energy News * CIO News * Real Estate News * Brand Equity * CFO News * IT Security News * Government News * Hospitality News * HR News * Legal News * ET TravelWorld News * Infra News * B2B News * CIOSEA News * HRSEA News * HRME News * CONTACT US ADVERTISE WITH US We have various options to advertise with us including Events, Advertorials, Banners, Mailers, Webinars etc. Please contact us to know more details. * SIGN UP FOR ETBFSI NEWSLETTER Get ETBFSI's top stories every morning in your email inbox. 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