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Banking


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.


LATEST NEWS

 * 4h hrs ago Crypto exchange Zipmex pauses withdrawals until further notice
 * 4h hrs ago ADB lowers India GDP forecast for FY23 to 7.2 pc
 * 4h hrs ago Markets recover after initial drop; sensex climbs 284 points
 * 4h hrs ago IDBI Bank Q1 Results: Profit rises 25% to Rs 756 crore
 * 4h hrs ago CSB Bank profit nearly doubles to Rs 115 crore in April-June
 * 2h hrs ago Bitcoin, Ethereum, Avalanche & Polygon jump up to 15%
 * 1h hrs ago Kotak General Insurance launches AI-based Vehicle Pre-Inspection
 * 51m mins ago SoftBank, Sequoia, other VCs push ONDC to portfolio firms

View More
Banking

RBL BANK REPORTS NET PROFIT OF RS 201 CRORE IN Q2, TO FOCUS ON GRANULAR DEPOSITS

The bank showed improved asset quality quarter on quarter and expects it to
continue while continuing its leadership in the credit card and microfinance
space. The bank also posted a reduction in NPAs, helping to cut down on
provisioning.

Policy

RBI MPC'S AUGUST MEETING RESCHEDULED TO AUG 3-5

The RBI's Monetary policy committee will now meet on August 3-5, from previously
scheduled August 2-4.

Industry

GDP GROWTH ESTIMATED AT 7.0 PERCENT, RBI TO REMAIN HAWKISH: FICCI SURVEY

According to a latest Economic Survey by FICCI, inflation levels will only start
coming down from September 2022. The survey also reported that the ongoing
geopolitical crisis will blur the inflation projections.

Fintech

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

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.

Banking

PNB PARTNERS WITH FOUR FINTECH FIRMS FOR ACCOUNT AGGREGATOR FORAY

PNB is the second public sector lender to go live in the ecosystem, acting as
Financial Information User (FIU) and Financial Information Provider.

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 / 1 hr ago


CRYPTO EXCHANGE ZIPMEX PAUSES WITHDRAWALS UNTIL FURTHER NOTICE

Singapore-headquartered crypto exchange Zipmex has announced to pause
withdrawals until further notice, becoming another crypto company to bear the
brunt of volatile market conditions.

 * Fintech / 3 hrs ago
   
   BITCOIN, ETHEREUM, AVALANCHE & POLYGON JUMP UP TO 15%

 * Fintech / 7 hrs ago
   
   BITCOIN RECOVERS AFTER FALLING ON NEWS TESLA SOLD 75% OF ITS HOLDINGS

 * Fintech / 10 hrs ago
   
   FUNDING DROUGHT: FINTECH INVESTMENTS DROP 33% IN Q2 OF 2022, BUT THERE IS A
   SILVER LINING

 * Fintech / 10 hrs ago
   
   INDIA’S FINTECH ADOPTION AT 80% COMPARED TO 64% GLOBALLY: SOM PARKASH,
   MOS-COMMERCE & INDUSTRY, GOI

View More


POLICY

Policy / 1 hr ago


RBI MPC'S AUGUST MEETING RESCHEDULED TO AUG 3-5

The RBI's Monetary policy committee will now meet on August 3-5, from previously
scheduled August 2-4.

 * Policy / 11 hrs ago
   
   RBI'S RUPEE TRADE SETTLEMENT A STEP TOWARDS INTERNATIONALISATION OF RUPEE:
   EXPERTS

 * Policy / 11 hrs ago
   
   INTRODUCE RESTRICTED DIGITAL BUSINESS BANK AND CONSUMER BANK LICENCE: NITI
   AAYOG

 * Policy / 1 day ago
   
   IN TOUCH WITH AUTHORITIES TO RESOLVE COOPERATIVES' CONCERNS ON RBI
   REGULATIONS: AMIT SHAH

 * Policy / 1 day ago
   
   RBI, GOVT UNLIKELY TO COME WITH IMD-LIKE SPECIAL SCHEMES TO SALVAGE RUPEE

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

 * Fintech / 4h hrs ago
   
   
   CRYPTO EXCHANGE ZIPMEX PAUSES WITHDRAWALS UNTIL FURTHER NOTICE
   
   Singapore-headquartered crypto exchange Zipmex has announced to pause
   withdrawals until further notice, becoming another crypto company to bear the
   brunt of volatile market conditions.

 * Industry / 4h hrs ago
   
   
   ADB LOWERS INDIA GDP FORECAST FOR FY23 TO 7.2 PC
   
   New Delhi, Jul 21 (PTI) Asian Development Bank (ADB) has lowered the economic
   growth forecast for India for current fiscal year to 7.2 per cent, with
   impacts of COVID-19 and Russia-Ukraine war getting exacerbated by high
   inflation.

 * Financial Services / 4h hrs ago
   
   
   MARKETS RECOVER AFTER INITIAL DROP; SENSEX CLIMBS 284 POINTS
   
   Benchmark indices bounced back after falling in early trade on Thursday and
   logged the fifth day of gain amid a decline in crude oil prices and foreign
   funds inflow.

 * Banking / 4h hrs ago
   
   
   IDBI BANK Q1 RESULTS: PROFIT RISES 25% TO RS 756 CRORE
   
   The bank's asset quality improved with gross Non-Performing Assets (NPAs)
   falling to 19.90 per cent of the gross advances as of June 2022 from 22.71
   per cent as of June 2021, according to a regulatory filing.

 * Banking / 4h hrs ago
   
   
   CSB BANK PROFIT NEARLY DOUBLES TO RS 115 CRORE IN APRIL-JUNE
   
   New Delhi, Jul 21 (PTI) Private lender CSB Bank on Thursday reported 88 per
   cent growth in its net profit at Rs 115 crore in the first quarter of FY23 on
   the back of decline in bad loans.

 * Fintech / 2h hrs ago
   
   
   BITCOIN, ETHEREUM, AVALANCHE & POLYGON JUMP UP TO 15%
   
   Barring the dollar-pegged USD Coin and Tron, all other crypto tokens were
   trading higher on Tuesday. Polygon zoomed more than 15 per cent, whereas
   Ethereum jumped 9 per cent. Avalanche gained about 8 per cent.

 * Insurance / 1h hrs ago
   
   
   KOTAK GENERAL INSURANCE LAUNCHES AI-BASED VEHICLE PRE-INSPECTION
   
   The technology would help in the renewal process as well as detect fraud
   thereby aiding the underwriting process

 * Industry / 51m mins ago
   
   
   SOFTBANK, SEQUOIA, OTHER VCS PUSH ONDC TO PORTFOLIO FIRMS
   
   The Indian Venture Capital Association (IVCA) also recently held a meeting
   with the ONDC team to understand how various startups could collaborate on
   the network.

View More


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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 (FY2021-2022).

 * 7 days ago
   
   FINTECH DIARY WITH NITHIN KAMATH, FOUNDER AND CEO, ZERODHA

 * 16 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

 * 55 mins ago
   
   RBL BANK REPORTS NET PROFIT OF RS 201 CRORE IN Q2, TO FOCUS ON GRANULAR
   DEPOSITS

 * 1 hr ago
   
   RBI MPC'S AUGUST MEETING RESCHEDULED TO AUG 3-5

 * 5 hrs ago
   
   GDP GROWTH ESTIMATED AT 7.0 PERCENT, RBI TO REMAIN HAWKISH: FICCI SURVEY

 * 10 hrs ago
   
   PNB PARTNERS WITH FOUR FINTECH FIRMS FOR ACCOUNT AGGREGATOR FORAY

 * 10 hrs ago
   
   INDIA’S FINTECH ADOPTION AT 80% COMPARED TO 64% GLOBALLY: SOM PARKASH,
   MOS-COMMERCE & INDUSTRY, GOI


MOST READ

 * 2 days ago
   
   RBI SAYS PRODUCTS OF 4 ENTITIES VIABLE FOR CROSS BORDER PAYMENTS UNDER
   REGULATORY SANDBOX

 * 6 days ago
   
   PSU BANKS TO GO LIVE ON ACCOUNT AGGREGATOR SYSTEM BY JULY-END

 * 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

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