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We have updated our terms and conditions and privacy policy Click "Continue" to accept and continue with ET BFSI 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 * LAY THE GROUNDWORK TO ACCELERATE BANKING INNOVATION * ETBFSI CXO CONCLAVE Connecting Financial Institutions Digitally * ETBFSI FINNEXT SUMMIT The Future of NBFCs and FinTechs * REIMAGINE NEXT * SIDBI-ET MSMES/STARTUPS Roudtable Discussion * REIMAGINE NEXT - THE FUTURE OF LEARNING * ETBFSI.COM CONVERGE BFSI: The world of Hyper-personalization * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI * LEARNFEST * ETBFSI EXCELLENCE AWARDS 2021 AWARDS FOR EXCELLENCE IN INNOVATION * THE DIGITAL NEXT: SERIES 2.1 Live Virtual Summit * 3RD EDITION OF ETBFSI CXO CONCLAVE Unlocking the BFSI Potential * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021 * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021 * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY * NATIONAL COOPERATIVE SUMMIT * FINANCIAL INCLUSION & PAYMENT SUMMIT * Millennial Finance * FinTech Diary * BFSI Tech Tales * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * Innovation Masters * POLICY * FINANCIAL SERVICES x Banking US BANKS REPORT POSITIVE GROWTH METERS, MINDFUL OF RECESSION: REPORT US banks have reported contained operating costs and positive loan growth outlook while revenues had to face slippages due to market conditions. Banks are seeing better credit card spends and acquisitions but are still looking out for risks due to recession. LATEST NEWS * 5h hrs ago Explained: How India emerged to be Sri Lanka's top lender in 2022 * 5h hrs ago IRDAI gives insurers freedom to empanel hospitals for cashless treatment * 5h hrs ago Explosion of MSME financing on power of data will be seen: VC & MD, U GRO Capital * 5h hrs ago Funding drought: FinTech investments drop 33% in Q2 of 2022, but there is a silver lining * 5h hrs ago MasterCard joins JPMorgan, Citi in exploring quantum banking * 5h hrs ago India’s fintech adoption at 80% compared to 64% globally: Som Parkash, MoS-Commerce & Industry, GoI * 5h hrs ago IIFL Finance appoints Gaurav Sharma as Chief Technology Officer * 5h hrs ago Unsecured lending picking up amidst falling delinquencies View More Blog BFIS SHOULD GEAR UP TO FACE CLIMATE CHANGE CHALLENGES Banks in India are becoming increasingly conscious of their catalyst role as financier to industries. Aggregate outstanding bank credit to non conventional energy has been Rs.36500 crores as on March,2020. Green bonds issued in 2021 have been strongest ever since first issuance in 2015. Fintech RBI WORKING ON IMPLEMENTING CBDC FOR RETAIL, WHOLESALE SEGMENTS: RBI ED "Indian FinTechs have transformed not just business models for the industry, but also of the life of a common man, but FinTechs still have a long way to go," said Ajay Kumar Choudhary, RBI ED, at the PICUP FinTech 2022 event, organised by FICCI. He spoke about how he wishes India to soon become a FinTech hub, and threw light on the importance of FinTechs. He also spoke about RBI's initiatives, and FinTech revolution in India, while delivering the keynote address. Financial Services 'THERE IS A DISCONNECT BETWEEN EVERYDAY FINANCE AND GREEN FINANCE' CHIEF SUSTAINABILITY OFFICER, MAS “We need to look at the brown parts, the heaviest carbon users, the industries that can be more polluting and work with them and use finance for good and say if you start to change and move into that direction, we will help finance that transition to help you be more sustainable and I think that’s the power of sustainable finance,” Dr McBain told ETBFSI at the Point Zero Forum in Zurich, Switzerland. Fintech FINTECHS ACCOUNT FOR 10% OF LAYOFFS IN START-UP WORLD IN Q2 Of the 117 unicorns that have announced layoffs since the start of 2022, most have been by fintech firms, followed by crypto and real estate. Banking HOW INDIA'S BANK DEPOSIT INSURANCE SYSTEM STACKS GLOBALLY About 98 per cent of all accounts in India are fully protected with deposit insurance against 80 per cent globally. Banking GOVT MOVES TO STRENGTHEN BOARDS OF PUBLIC SECTOR BANKS The government is looking to amend the Banking Companies (Acquisition and Transfer of Undertaking) Act to specify terms of office and conditions of service for whole-time directors. View More TOP FEATURED STORIES Banking / 17 days ago NOT ALL BANK SYSTEMS ARE MEANT TO BE SUPPORTED BY CLOUD: CELINE LE COTONNEC Ever since the pandemic, BFSI companies have been opting for technological advancements, and have switched to data centers, cloud systems, etc. Celine Le Cotonnec, Chief Data Innovation Officer, Bank of Singapore, spoke to ETBFSI, on the sidelines of the Point Zero Forum in Zurich, on this emerging trend. Read the full interview here. * Insurance AFTER 21 YEARS OF PRIVATISATION AND EXTENSIVE EFFORT, HOW HAS INDIA'S INSURANCE SECTOR EVOLVED? * Financial Services HOW ARE GREEN, SOCIAL AND SUSTAINABILITY BONDS FARING IN INDIA? * NBFC 'OPEN TO MORE PARTNERSHIPS, POSSIBLY BE A LENDING-BACKED MARKETPLACE' * Insurance 'PIRAMAL ELIGIBLE TO BID FOR RCAP'S GENERAL AND HEALTH INSURANCE BIZ' View More BLOG * 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 * Japan Doshi - Head of Product and Technology, Rupeek FINTECH LEADS THE GOLD RUSH WITH TECH-LED ASSET-BACKED LENDING * Ravi Subramanian - MD & CEO, Shriram Housing Finance SEMI-URBAN/RURAL AFFORDABLE HOUSING OUTPACING URBAN DEMAND * Vivek Veda - Co-Founder & CFO, KreditBee HERE’S WHY DIGITAL LENDERS ARE LEVERAGING NEW-AGE TECHNOLOGY FOR THEIR OFFERINGS * Rasleen Kaur - Head – Corporate Strategy and Investor Relations, Policybazaar.com TRANSFORMING THE DISTRIBUTION-CONTROLLED INSURANCE INDUSTRY WITH DIGITIZATION View More FINTECH Fintech / 7 mins ago FUNDING DROUGHT: FINTECH INVESTMENTS DROP 33% IN Q2 OF 2022, BUT THERE IS A SILVER LINING But fund flow in FinTechs during Q2 was 68.6 per cent higher than the $12.1 billion invested in Q2 of 2020. While this year will be far more muted for FinTech investment globally, it is still on track to crush the 2020 numbers. * Fintech / 7 mins ago INDIA’S FINTECH ADOPTION AT 80% COMPARED TO 64% GLOBALLY: SOM PARKASH, MOS-COMMERCE & INDUSTRY, GOI * Fintech / 7 mins ago EXPLOSION OF MSME FINANCING ON POWER OF DATA WILL BE SEEN: VC & MD, U GRO CAPITAL * Fintech / 14 hrs ago FINTECH STARTUP BACKSPACE TECH RAISES $450,000 * Fintech / 20 hrs ago RBI WORKING ON IMPLEMENTING CBDC FOR RETAIL, WHOLESALE SEGMENTS: RBI ED View More POLICY Policy / 18 mins ago RBI'S RUPEE TRADE SETTLEMENT A STEP TOWARDS INTERNATIONALISATION OF RUPEE: EXPERTS The recent announcement by the Reserve Bank of India (RBI) to allow cross border trade transactions in rupee is a timely move and a step towards internationalisation of the currency, according to experts. * Policy / 23 mins ago INTRODUCE RESTRICTED DIGITAL BUSINESS BANK AND CONSUMER BANK LICENCE: NITI AAYOG * Policy / 14 hrs ago IN TOUCH WITH AUTHORITIES TO RESOLVE COOPERATIVES' CONCERNS ON RBI REGULATIONS: AMIT SHAH * Policy / 23 hrs ago RBI, GOVT UNLIKELY TO COME WITH IMD-LIKE SPECIAL SCHEMES TO SALVAGE RUPEE * Policy / 23 hrs ago RBI SELLING DOLLARS TO MEET GAPS AS EXCHANGE-RATE FAIR View More NBFC * IIFL FINANCE APPOINTS GAURAV SHARMA AS CHIEF TECHNOLOGY OFFICER * PNB HOUSING UP 8% ON SETTLEMENT WITH SEBI OVER CARLYLE CASE * CONFIDENT OF L&T FINANCE ROA TRIPLING TO 3% BY FY26: DINANATH DUBHASHI * PIRAMAL, INDUSIND, OAKTREE AND COSMEA MULL BID FOR RELIANCE CAPITAL * M&M FINANCE PARTNERS WITH CREDGENICS FOR RETAIL LOAN COLLECTIONS * NEARLY 8,000 COMPLAINTS RECEIVED BY RBI AGAINST NBFCS, LENDING APPS IN THE LAST ONE YEAR * SHRIRAM GROUP'S NON-BANKING FINANCIAL ENTITIES TO GET AMALGAMATED BY DEC QTR:MD & CEO YS CHAKRAVARTI * WADHAWAN ROUTED ₹115 CR TO JACK UP DHFL SHARES IN '18 * SECURITISATION VOLUMES SURGES 70% IN Q1 ON INCREASED ECON ACTIVITY * DEMAND REVIVAL TO HELP NBFCS POST BEST QUARTER IN TWO YEARS * STICKY MICRO LOANS AT RS 32,000 CRORE, BUT PROFITABILITY FOR NBFC-MFIS MAY IMPROVE * MFIS' GROSS LOAN PORTFOLIO RISES TO RS 2.9 LAKH CRORE AT MARCH-END: REPORT * DIGITAL DISRUPTION NEW NORMAL, WORKING ON ‘SHRIRAM ONE’ SUPER APP: REVANKAR AND CHAKRAVARTI * AROHAN LAUNCHES DIGITAL LENDING APP, EXPECTS TO RAISE LOAN PORTFOLIO BY RS 600CR BY FY23 * AROHAN FINANCIAL IN TALKS WITH PES TO RAISE RS 1,900 CR * NBFCS, HFCS SECURITISATION VOLUMES ALMOST DOUBLED TO RS 33,000 CRORE IN APRIL-JUNE: REPORT * NBFC-HFCS TO HAVE HEALTHY DISBURSEMENT MOMENTUM, STEADY QUARTER : REPORT * CSC, ADANI CAPITAL IN PACT TO OFFER WORKING CAPITAL TO 6K SELLERS * NIIF TO BRING NEW INVESTORS ON DEBT PLATFORM * CO-LENDING EASING CAPITAL ISSUES FOR NBFCS: GODREJ CAPITAL View More MORE FROM ETBFSI * Industry / 5h hrs ago EXPLAINED: HOW INDIA EMERGED TO BE SRI LANKA'S TOP LENDER IN 2022 Crisis-hit Sri Lanka found most support in neighbour India as it emerged to be the island nation's source of assistance amidst the economic collapse. * Insurance / 5h hrs ago IRDAI GIVES INSURERS FREEDOM TO EMPANEL HOSPITALS FOR CASHLESS TREATMENT Earlier, only those network providers which were registered in the Hospital Registry ROHINI maintained by Insurance Information Bureau (IIB) could be empanelled by the insurers. * Fintech / 5h hrs ago EXPLOSION OF MSME FINANCING ON POWER OF DATA WILL BE SEEN: VC & MD, U GRO CAPITAL According to Sachindra Nath, VC & MD, U GRO Capital, historically, MSME financing has been largely based on ‘collateral lead financing’ done through physical assessment but that is changing and will accelerate further in the years to come. * Fintech / 5h hrs ago FUNDING DROUGHT: FINTECH INVESTMENTS DROP 33% IN Q2 OF 2022, BUT THERE IS A SILVER LINING But fund flow in FinTechs during Q2 was 68.6 per cent higher than the $12.1 billion invested in Q2 of 2020. While this year will be far more muted for FinTech investment globally, it is still on track to crush the 2020 numbers. * Banking / 5h hrs ago MASTERCARD JOINS JPMORGAN, CITI IN EXPLORING QUANTUM BANKING Quantum computing is emerging as a potential gamechanger in sectors like banking, where quantum algorithms could be applied to problems in Value at Risk (VAR) calculations and portfolio volatility optimisation. * Fintech / 5h hrs ago INDIA’S FINTECH ADOPTION AT 80% COMPARED TO 64% GLOBALLY: SOM PARKASH, MOS-COMMERCE & INDUSTRY, GOI Som Parkash, Minister of State for Commerce & Industry on Wednesday, spoke about the robust adoption of fintechs in the country and how its time to convert fintech initiatives into fintech revolution to make every Indian citizen empowered financially. Also speaking at the event, V. Anantha Nageswaran, Chief Economic Adviser of India, elaborated on the depreciating value of rupee, inequality, climate and economic instability. Here are the highlights from Day 1 of the 3-day FinTech Festival India, New Delhi. * NBFC / 5h hrs ago IIFL FINANCE APPOINTS GAURAV SHARMA AS CHIEF TECHNOLOGY OFFICER Sharma is a technology and digital transformation specialist with over 27 years of experience. He was in the CTO role at Poonawalla Fincorp and L&T Financial Services previously. * Financial Services / 5h hrs ago UNSECURED LENDING PICKING UP AMIDST FALLING DELINQUENCIES Borrowers inquiring about personal loans increased by 141 percent for the three month period ending May 2022 compared to 93 percent growth in inquiries for the three month period ended March' 2022, according to data released by credit bureau Transunion Cibil. View More SUBSCRIBE TO OUR NEWSLETTER 50000+ Industry Leaders read it everyday I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. CRYPTOCURRENCY * "GLOBAL COLLABORATION" NEEDED: SITHARAMAN ON RBI'S RECOMMENDATION TO BAN CRYPTO * RBI BATS FOR CRYPTO BAN, GOVT SEEKS GLOBAL COLLABORATION FOR BETTER IMPLEMENTATION: FM SITHARAMAN * IAMAI DISSOLVES BACC; INDUSTRY SAYS WILL CONTINUE TO BAT FOR REGULATIONS * NFT MARKETPLACE OPENSEA SLASHES 20% OF JOBS * INTERNET BODY TO DISMANTLE BLOCKCHAIN AND CRYPTO ASSETS COUNCIL * GLOBAL REGULATORS BACK 'SAME RISK, SAME REGULATION' FOR STABLECOINS * COINBASE'S BRIAN ARMSTRONG EXPLAINS EFFICIENCY MEASURES AMID RISING VOLATILITY * BITBNS INTRODUCES TAX SHIELD TO 'AVOID' TDS ON SIP INVESTMENTS IN CRYPTOS * RUSSIA TO IMPROVE CRYPTO TRANSACTION MONITORING AS REGULATION DRAWS CLOSER View More BFSI VIDEOS * CREDIT GROWTH PICKING UP ACROSS ALL SECTORS; NO DAMPER IN CASE OF RATE HIKES: SHANTI LAL JAIN Shanti Lal Jain, MD and CEO, Indian Bank, in conversation with Amol Dethe, editor of ETBFSI, said that he sees credit growth picking up in all sectors this year — retail, MSME as well as corporate. He also highlighted how the normalisation of interest rates is happening and the he is not seeing any damper on account of interest rate hikes. "In terms of credit growth, when the commodity prices increase, the utilization levels of the working capital is increasing and in the credit side as well, sector by sector we are seeing growth. As far as interest rate is concerned, 1-2 years back when there wasn't enough liquidity, naturally creditor interest rate was lower and the growth was also lower. Now that the growth is happening, the demand is increasing and interest rates also will be normalized. So it won't have any impact on growth plans and I'm not seeing any damper on account of interest rate hikes", Jain said. Tune in to listen to his insights. Note: the data/numbers that he shared belongs to the previous year (2021). * 6 days ago FINTECH DIARY WITH NITHIN KAMATH, FOUNDER AND CEO, ZERODHA * 15 days ago INDIAN FINTECHS WILL MOVE TOWARDS 2ND ORDER PRODUCTS IN THE NEXT 3 YEARS, SAYS MADHUSUDHAN R * 17 days ago CO-LENDING MODEL A SURE SHOT SUCCESS, SAYS MONU RATRA OF IIFL HOME FINANCE View More EDITOR'S PICK * 7 mins ago EXPLOSION OF MSME FINANCING ON POWER OF DATA WILL BE SEEN: VC & MD, U GRO CAPITAL * 7 mins ago FUNDING DROUGHT: FINTECH INVESTMENTS DROP 33% IN Q2 OF 2022, BUT THERE IS A SILVER LINING * 7 mins ago INDIA’S FINTECH ADOPTION AT 80% COMPARED TO 64% GLOBALLY: SOM PARKASH, MOS-COMMERCE & INDUSTRY, GOI * 7 mins ago MASTERCARD JOINS JPMORGAN, CITI IN EXPLORING QUANTUM BANKING * 16 hrs ago US BANKS REPORT POSITIVE GROWTH METERS, MINDFUL OF RECESSION: REPORT MOST READ * 6 days ago PSU BANKS TO GO LIVE ON ACCOUNT AGGREGATOR SYSTEM BY JULY-END * 1 day ago RBI SAYS PRODUCTS OF 4 ENTITIES VIABLE FOR CROSS BORDER PAYMENTS UNDER REGULATORY SANDBOX * 7 days ago INSURTECHS ORCHESTRATING GREAT CHANGE, ALMOST INTEGRAL FOR SECTORAL GROWTH: TURTLEMINT CEO * 6 days ago FINTECH PLAYERS USING LOCATION DATA MAY BE HIT BY NPCI'S CONSENT RULE * 6 days ago PHYGITAL MODEL TO ADDRESS CHALLENGES AND EXPAND IN RURAL BHARAT: EXPERTS * 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. 50000+ Industry Leaders read it everyday I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. * FOLLOW US @ETBFSI Follow @ETBFSI for the latest news, insider access to events and more. * * * * * * About Us * Contact Us * Advertise with us * Newsletter * RSS Feeds * Embed ETBFSI.com Widgets on your Website * Privacy Policy * Terms & Conditions * Guest-Post Guidelines * Sitemap Copyright © 2022 ETBFSI.com. 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