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x
Fintech
15 FINTECHS RAISE $420.7 MILLION IN JUNE: PGA LABS
FlexiLoans topped the list while raising $90 million, followed by Kissht at $80
million. Moreover, despite fears of a funding winter and a global economic
slowdown, and regulatory challenges, it is noteworthy that some of the biggest
investors continue to invest in the Indian fintech space.
LATEST NEWS
* 3h hrs ago Bank NPAs at 6-year low, still higher than comparable economies
* 3h hrs ago MVS Murthy posted Federal Bank chief marketing officer
* 3h hrs ago Universal Sompo draws up growth plans on parent’s insuretech play
* 3h hrs ago CSC, Adani Capital in pact to offer working capital to 6k sellers
* 3h hrs ago Wary of foreign players' duopoly in UPI market, MPs plan to raise
issue in Parliament
* 3h hrs ago Recession? Investors turn to earnings for clues
* 3h hrs ago Foreign lenders seek clarity on ECB borrowers' rating
* 3h hrs ago HDFC set to upsize offshore loan to $1 billion as ECB rules eased
View More
Fintech
WHAT IS DEFI? HOW IT WORKS AND ITS FUTURE
DeFi will allow for a more open and financially inclusive marketplace where
pricing is determined by market forces and parties transact using secure
technology on a public blockchain. By 2030, 10% of all global transactions would
happen through crypto and DeFi would play a major role in it.
NBFC
NBFC-HFCS TO HAVE HEALTHY DISBURSEMENT MOMENTUM, STEADY QUARTER : REPORT
According to reports by Motilal Oswal Financial Services Ltd and ICICI
Securities, the NBFC-HFC sector is likely see a sharp spike in disbursements,
gained traction in AUM growth and improvement in collection efficiency resulting
in better pre-provisioning operating profit trajectory, in the first quarter of
FY23.
Financial Services
IS RUPEE FACING THE ATTACK OF SPECULATORS?
Options on the rupee are pricing in a 52% chance it will weaken to 82 per dollar
by year-end, which would increase this year’s decline to almost 10%, making it
the worst year since 2013.
Blog
HERE’S WHY DIGITAL LENDERS ARE LEVERAGING NEW-AGE TECHNOLOGY FOR THEIR OFFERINGS
Technology is undoubtedly fuelling the lending revolution in the financial
sector today. A couple of years back, the loan application process was drawn out
and time-consuming. Forms had to be filled out meticulously, and lending
companies had lengthy approval processes that took weeks.
Blog
TRANSFORMING THE DISTRIBUTION-CONTROLLED INSURANCE INDUSTRY WITH DIGITIZATION
While insurance penetration in India still stands at a low of 4.20%, it is
definitely witnessing considerable growth. The COVID-19 pandemic further
accelerated this process at an unprecedented pace, and digitization can be
accredited for the bulk of it. Today, Insurtechs are rewriting the rules by
democratizing insurance access and ensuring its wider distribution in a
frictionless manner.
Industry
BFSI THIS WEEK : INSURANCE, FOREX, CRYPTO, M&A AND MORE
This week was hectic with many mergers and acquisitions and appointments in the
BFSI sector. 'Pay as you drive', crypto market crash, RBI's forex aid, etc made
into the top headlines this week. ETBFSI brings to you a gist of the top
developments of the week :
View More
TOP FEATURED STORIES
Insurance / 13 days ago
AFTER 21 YEARS OF PRIVATISATION AND EXTENSIVE EFFORT, HOW HAS INDIA'S INSURANCE
SECTOR EVOLVED?
On the occasion of National Insurance Awareness Day, ET BFSI spoke to a few
industry captains to understand how far has the sector come after more than two
decades of privatization, how is technology disrupting insurance post covid,
role of the regulator in increasing insurance penetration in the country and
future growth outlook. Here's what they said.
* 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'
* Fintech
INDIAN FINTECHS GARNER 42% SHARE OF $3.3 BILLION DEALS IN APAC REGION
View More
BLOG
* 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
* Manish Agrawal - Head – Credit Intelligence and Control, HDFC Bank
FRAUDSTERS 'HACKING' CONSUMERS' MINDS TO STEAL MONEY
* Krishnan Sitaraman - Senior Director, CRISIL Ratings
THE SHIMMER OF SECURITISED GOLD LOANS
* Raghunandan G - Founder & CEO, Zolve
TRAVERSING THROUGH A RECESSION, THE FINTECH WAY
* Sanjay Tiwari - Chief Strategy Officer, Exide Life Insurance
PRODUCT INNOVATION IN INSURANCE: THE NEW IMPERATIVE FOR A COMFORTABLE
RETIREMENT
View More
FINTECH
Fintech / 2 hrs ago
15 FINTECHS RAISE $420.7 MILLION IN JUNE: PGA LABS
FlexiLoans topped the list while raising $90 million, followed by Kissht at $80
million. Moreover, despite fears of a funding winter and a global economic
slowdown, and regulatory challenges, it is noteworthy that some of the biggest
investors continue to invest in the Indian fintech space.
* Fintech / 2 hrs ago
WHAT IS DEFI? HOW IT WORKS AND ITS FUTURE
* Fintech / 2 hrs ago
WARY OF FOREIGN PLAYERS' DUOPOLY IN UPI MARKET, MPS PLAN TO RAISE ISSUE IN
PARLIAMENT
* Fintech / 1 day ago
NECESSARY FOR US TO COMPLY WITH LEGAL REQUEST: RAZORPAY CEO ON ALT NEWS DATA
* Fintech / 2 days ago
WEB3 BLOCKCHAIN PROJECTS LOST OVER $2 BILLION TO HACKERS IN THE FIRST HALF OF
2022
View More
POLICY
Policy / 2 hrs ago
RECESSION? INVESTORS TURN TO EARNINGS FOR CLUES
After a tumultuous first half for global equities, with $18 trillion in value
wiped out, investors are anxious to see if profits are holding up or if
companies will cut guidance amid the intensifying threats to demand. Businesses
may use the dour economic picture to be even more conservative than otherwise
about the future.
* Policy / 20 hrs ago
NEED TO RECOGNISE GLOBAL FACTORS IN INFLATION AND POLICY COORDINATION, SAYS
RBI GOVERNOR
* Policy / 2 days ago
RBI IMPOSES RESTRICTIONS, WITHDRAWAL CAPS ON 4 CO-OP BANKS
* Policy / 3 days ago
RBI CANCELS LICENSE OF PUNE-BASED SHRI ANAND CO-OPERATIVE BANK
* Policy / 3 days ago
FM URGES BANKS TO ENSURE CREDIT FLOW TO KCC HOLDERS, STRENGTHEN RRBS
View More
NBFC
* 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
* SHRIRAM TRANSPORT FINANCE GETS SHAREHOLDERS, CREDITORS NOD FOR MERGER
* FIRED EXECS DIDN’T IMPACT OPS, LIQUIDITY, SAYS AXIS MF
* MYSHUBHLIFE AIMS TO DISBURSE RS 550 CRORE WORTH OF LOANS BY THE NEXT
FINANCIAL YEAR
* MFIS MAY SEE IMPROVED PROFITS ON FLEXIBLE LENDING RATES
* MUTHOOT FINANCE GETS RBI NOD TO OPEN 150 NEW BRANCHES ACROSS INDIA
* HDFC AND HDFC BANK MERGER PROPOSAL GETS NOD FROM BOURSES
* DOMESTIC HOUSING SECTOR SET TO GROW IN NEXT 5 YEARS: PNB HOUSING FINANCE
* INDIABULLS HOUSING RAISES $100 MILLION VIA OFFSHORE LOAN FROM SBI
* PNB HOUSING FIN TO SEEK SHAREHOLDERS' NOD NEXT MONTH TO RAISE RS 12,000 CR IN
DEBT
* CHENNAI: SHRIRAM TRANSPORT’S Q1 DISBURSEMENTS UP 15%
* 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
View More
MORE FROM ETBFSI
* Banking / 3h hrs ago
BANK NPAS AT 6-YEAR LOW, STILL HIGHER THAN COMPARABLE ECONOMIES
Gross non-performing assets (GNPAs) of banks have hit a six-year low of 5.9%
as of March 2022. But India’s NPA ratio is one of the highest among
comparable countries, says a report. Barring Russia, which has bad loans of
8.3%, every large market has bad loans below India. China has NPA ratio 1.8%,
while it is 2.6% for Indonesia and 5.2% for South Africa. Most of the
developed economies have NPAs below 3%.
* Banking / 3h hrs ago
MVS MURTHY POSTED FEDERAL BANK CHIEF MARKETING OFFICER
M V S Murthy has been appointed as the first chief marketing officer of
Federal Bank. Prior to this role, he was heading marketing, digital and
corporate communication at TATA AMC.
* Insurance / 3h hrs ago
UNIVERSAL SOMPO DRAWS UP GROWTH PLANS ON PARENT’S INSURETECH PLAY
Universal Sompo General Insurance, a JV between banks and Japanese insurer
Sompo, is preparing for a high-growth second inning following the
amalgamation of its original promoter Allahabad Bank with Indian Bank. Part
of the new strategy is to integrate with Indian Bank’s systems for
distribution
* NBFC / 3h hrs ago
CSC, ADANI CAPITAL IN PACT TO OFFER WORKING CAPITAL TO 6K SELLERS
The CSC, a special purpose vehicle (SPV) of the Ministry of Electronics and
Information Technology, and Adani Capital, the nonbanking financial company
(NBFC) arm of Adani Group reached the agreement last month, one of them said.
* Fintech / 3h hrs ago
WARY OF FOREIGN PLAYERS' DUOPOLY IN UPI MARKET, MPS PLAN TO RAISE ISSUE IN
PARLIAMENT
As per the latest data from the National Payments Corporation of India
(NPCI), which is pushing for capping the market share of each player at 30
per cent, there were more than five dozen UPI (Unified Payments Interface)
apps registered in the country at the end of June 2022 and together they
accounted for 5.8 billion transactions with a total value of over Rs 10 lakh
crore during the month.
* Policy / 3h hrs ago
RECESSION? INVESTORS TURN TO EARNINGS FOR CLUES
After a tumultuous first half for global equities, with $18 trillion in value
wiped out, investors are anxious to see if profits are holding up or if
companies will cut guidance amid the intensifying threats to demand.
Businesses may use the dour economic picture to be even more conservative
than otherwise about the future.
* Banking / 3h hrs ago
FOREIGN LENDERS SEEK CLARITY ON ECB BORROWERS' RATING
Companies rated high domestically may not always make the investment-grade
cut when rated by overseas agencies. Hence, bankers want to know whether the
central bank’s reference to rating for eligibility to avail the latest plans
applies to the domestic context or even overseas.
* Banking / 3h hrs ago
HDFC SET TO UPSIZE OFFSHORE LOAN TO $1 BILLION AS ECB RULES EASED
The State Bank of India (SBI) is said to join the syndication process that
already has confirmed participation from Mizuho Bank, MUFG and Standard
Chartered Bank, the people cited above said.
View More
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CRYPTOCURRENCY
* RUSSIA TO IMPROVE CRYPTO TRANSACTION MONITORING AS REGULATION DRAWS CLOSER
* CRYPTO EXCHANGE BINANCE (US) HIRES FORMER PAYPAL EXECUTIVE JASMINE LEE AS CFO
* TRIPLE TROUBLE FOR CRYPTO: LIQUIDITY CRUNCH, BEAR MARKET, NEW TAX RULES
* GLOBAL COMPARABLE REGULATIONS ARE NEEDED FOR CRYPTOCURRENCIES: SWITZERLAND
FINANCE SECRETARY
* WILL THE CRYPTO WINTER SHUT SMALLER EXCHANGES OR LEAD TO ACQUISITION BY
BIGGER WHALES?
* BANK OF ENGLAND: CRYPTO CRASHES SHOW NEED FOR TOUGHER RULES
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BFSI VIDEOS
* INDIAN FINTECHS WILL MOVE TOWARDS 2ND ORDER PRODUCTS IN THE NEXT 3 YEARS,
SAYS MADHUSUDHAN R
Madhusudan R, Founder and CEO, M2P Fintech at the ETBFSI FinNext Summit 2022
said that the Fintech Sector has hit a speed breaker in regards to the
funding slowdown but he thinks it's only to accelerate the growth from here
in terms of how it is made sure that a lot of unwarranted stuff is cut out.
"Investment in Fintechs is like how we personally invest in the market. When
the markets crash, we pull back our money and stop as there is a lot of fear.
The venture world is no different and I hope that in the next 6-12 months
things will start to get back on track". Madhusudan also believes that Indian
Fintechs are still at a very early stage and are catering to what he calls
first order products that fulfill basic needs. In the next 2-3 years, we'll
start looking at second order products like autopilot investment management.
He also shared his insights on how open banking is evolving in India very
differently from how the world sees it primarily because at the macro level
certain things are going very well for India.
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