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NBFC
GODREJ CAPITAL AIMS TO LAUNCH UNSECURED LOANS FOR NBFC ARM LATER THIS YEAR:
MANISH SHAH
Manish Shah, managing director and chief executive officer of Godrej Capital,
spoke of the subsidiaries' plans, digitisation, and his views on RBI's norms.
Godrej Capital is the holding entity of Godrej Finance Limited (GFL), the NBFC
arm, and Godrej Housing Finance (GHF), the HFC arm. The holding entity was
introduced in April. Read his views below.
LATEST NEWS
* 5h hrs ago Panel proposes timelines for approving resolution plans
* 5h hrs ago Sensex sinks below 51K, Nifty tests 15,200 on US recession fears,
central bank tightening
* 5h hrs ago UK slowdown fears mount as GDP unexpectedly shrinks in April
* 5h hrs ago Rupee may have hit 78 but its depreciation is rather modest when
compared to other emerging market currencies
* 5h hrs ago PNB stops 0.75 per cent incentive on fuel purchases via digital
modes
* 5h hrs ago ICICI Bank ties up with Santander for India-UK business ease
* 2h hrs ago Emerging market economies, including India, need to keep foreign
exchange reserves liquid: RBI paper
* 2h hrs ago Fed's uncommon 75 may push RBI to go for steep hikes
View More
Financial Services
CONTACTLESS PAYMENTS SEE 6X GROWTH IN 3 YEARS: REPORT
The whitepaper drafted by VISA and Worldline finds that contactless payments
have seen a quicker adoption in segments including food and grocery, pharmacies
and quick service restaurants. The metro cities have also seen better adoption,
while non-metro areas are expected to see assistance from FinTechs as per the
report's expectations.
Industry
G4 CURRENCIES MAY STAY ON WEAK FOOTING : REPORT
Reports by Yes Bank and Motilal Oswal Financial Services highlighted that
inflation is on the rise in most of the nations globally and global currency
markets are witnessing significant increase in volatility. ETBFSI has compiled
their views on Fed Rate hike, global currency market downfall, inflation, and
what impact the rate hikes have on global economy.
Industry
US DOLLAR TO CONTINUE RISING, WITH FIRM FOOTING : REPORT
According to a report by Yes Bank, USD’s firmness is to continue amidst risk
aversion. India’s domestic fundamentals are also weakening and it is facing a
twin deficit problem. Even as a tighter monetary policy will provide some
support, USD/INR is expected to remain on a depreciating path and weaken to
79.50 by end-FY23.
Insurance
IMPROVING INSURANCE PENETRATION: WILL IRDAI ALLOW LIFE INSURERS TO SELL HEALTH
INSURANCE?
The main strategic thrust of recent regulatory announcements by IRDAI is mostly
to ease operational hurdles for insurers and to increase the scope and the
number of insurers as well as insurance intermediaries with an ultimate
objective of deepening insurance penetration in the country.
Financial Services
CREDIT CARD FIRMS CHASE 'REVOLVERS' AS EARNINGS FALTER
With credit card companies issuing stringent customer acquisition norms, the
number of customers who opt for revolving credit by making part payments has
reduced, hurting interest income of issuers.
Fintech
LXME AIMS TO BE AN NBFC, THEN DIGITAL BANK IN 5 YEARS: CEO JASMIN GUPTA
LXME, which started as a Facebook community, aims to bridge the gap between
women and finance by providing education and products for them to manage their
own money. Moreover, the startup aspires to be a full fledged digital bank in
the coming years.
View More
TOP FEATURED STORIES
NBFC / 10 days ago
'OPEN TO MORE PARTNERSHIPS, POSSIBLY BE A LENDING-BACKED MARKETPLACE'
Venkatraman Gopalakrishnan, chief executive officer of TVS Credit Services, told
ETBFSI that the idea of becoming a lending-backed marketplace comes on the back
of wanting to change its approach to a customer-oriented one, rather than a
product-oriented one. The CEO spoke of super app, the lender's future plans, and
its progress in digitisation... read here.
* 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
* Insurance
HOW INSURANCE COMPANIES ARE USING THE AA ECOSYSTEM TO TACKLE CHALLENGES
* Fintech
HOW NEW RBI CREDIT CARD NORMS WILL HIT FINTECH FIRMS
View More
BLOG
* Murtaza Bhatia - Director, Cyber Security Sales, NTT Ltd. in India
WHY THE BFSI SECTOR NEEDS A HOLISTIC SECURITY STRATEGY
* Arun Tikoo - SVP – Business and Strategy, Cashfree Payments
HOW ARE APIS SPEARHEADING THE BANKING SECTOR'S EVOLUTION?
* Martin Boyd - President, Banking Solutions – FIS
REGULATING THE METAVERSE: WHAT’S NEEDED AND WHAT’S POSSIBLE?
* Shyam Mani - Head - SME and NRI Banking, CSB Bank Limited
DOWN SLIDING RUPEE: A BOON FOR NRIS
* Sumit Rai - MD & CEO, Edelweiss Tokio Life Insurance
HOW INSURTECH IS REDEFINING INSURANCE
* Tapan Singhel - MD & CEO, Bajaj Allianz General Insurance
THE RISE OF PREVENTIVE HEALTH CARE IN INDIAN INSURANCE INDUSTRY
View More
FINTECH
Fintech / 3 hrs ago
INDIA'S BIGGEST CRYPTO PONZI SCAM MAY GROW TO RS 1 TRILLION, AFFECTING 1 LAKH
PEOPLE
With a total of 40 FIRs registered by victims (more than 13 FIRs in Maharashtra
alone) and Punjab, a large number of people from other states may have also lost
their hard-earned savings in the GainBitcoin scam.
* Fintech / 3 hrs ago
DIGITAL PAYMENTS VIA UPI BRACES FOR EUROPEAN ENTRY; NPCI TO LAUNCH UPI, RUPAY
CARDS IN FRANCE
* Fintech / 21 hrs ago
GLORY, GLOOM & DOOM! ARE CRYPTOCURRENCES LOSING ASSET CLASS STATUS?
* Fintech / 1 day ago
BITCOIN EASES FROM 18-MONTH LOW AS CRYPTO MARKET STABILIZES
* Fintech / 1 day ago
MONEY VIEW ANNOUNCES MULTIPLE ESOP BUYBACKS FOR ITS EMPLOYEES; AIMS TO HIRE
600 PEOPLE
View More
POLICY
Policy / 35 mins ago
PANEL PROPOSES TIMELINES FOR APPROVING RESOLUTION PLANS
Insolvency Law Committee, headed by corporate affairs secretary Rajesh Verma,
has suggested measures including introduction of timelines for approval or
rejection of resolution plans and use of digital databases for claim submission
from creditors.
* Policy / 3 hrs ago
EMERGING MARKET ECONOMIES, INCLUDING INDIA, NEED TO KEEP FOREIGN EXCHANGE
RESERVES LIQUID: RBI PAPER
* Policy / 3 hrs ago
FED'S UNCOMMON 75 MAY PUSH RBI TO GO FOR STEEP HIKES
* Policy / 3 hrs ago
RBI RAISES LIMIT OF E-MANDATES FOR TRANSACTIONS UP TO RS 15,000
* Policy / 3 hrs ago
RBI ARTICLE FLAGS LOW R&D SPEND, COULD HURT INDIA'S TRANSITION TO NEXT PHASE
OF MANUFACTURING
View More
NBFC
* GODREJ CAPITAL AIMS TO LAUNCH UNSECURED LOANS FOR NBFC ARM LATER THIS YEAR:
MANISH SHAH
* SHRIRAM GROUP RECEIVES RBI NOD FOR MERGER OF FINANCIAL SERVICES BUSINESS
* NBFC-MFIS GEAR UP TO RAISE EQUITY AS GROWTH PROSPECTS RETURN
* BAJAJ FINANCE RAISES RATES ON FIXED DEPOSITS
* PNB HOUSING FINANCE TO RAISE UP TO RS 2,000 CR VIA BONDS
* SHRIRAM CITY TO RAISE UP TO RS 300 CR BY ISSUING BONDS
* COST OF BORROWING TO INCREASE, NBFCS TO REMAIN STEADY: CRISIL
* IIFL FINANCE FALLS 4% AS BRITISH INTERNATIONAL OFFLOADS STAKE IN FIRM
* NBFCS FACE PRESSURE ON NIMS AS RATE CYCLE TURNS, REGULATION TIGHTENS
* IIFL FINANCE ZOOMS 13% AS ADIA TO PICK 20% STAKE IN HOME LOAN ARM
* CO-LENDING IS AN INEVITABLE MARRIAGE OF NBFCS AND FINTECHS, SAY LEADERS
* NBFCS DON'T WANT TO BE SEEN AS SHADOW BANKS, SAY LEADERS
* RBI CANCELS CERTIFICATE OF REGISTRATION OF 3 NBFCS
* GODREJ CAPITAL TO ENTER THE CROWDED NBFC MARKET OF CHENNAI IN THE NEXT COUPLE
OF MONTHS
* SHRIRAM TRANSPORT FINANCE RAISES $250 MILLION LOAN FROM DFC
* MICRO LOAN DELIVERY SLOWED IN APRIL-MAY AS LENDERS TOOK TIME TO ADJUST TO NEW
GUIDELINES
* LARGE NBFCS WELL-PLACED FOR RBI'S PROVISIONING NORMS: CRISIL
* FRONT RUNNING CASE: SEBI BANS FORMER RELIGARE FINVEST EMPLOYEE FROM CAPITAL
MKT; LEVIES FINE
* WHAT NBFC LEADERS THINK OF JUNE RBI POLICY
* DEADLINE TO SUBMIT RELIANCE CAPITAL RESOLUTION PLANS LIKELY TO BE EXTENDED
View More
MORE FROM ETBFSI
* Policy / 5h hrs ago
PANEL PROPOSES TIMELINES FOR APPROVING RESOLUTION PLANS
Insolvency Law Committee, headed by corporate affairs secretary Rajesh Verma,
has suggested measures including introduction of timelines for approval or
rejection of resolution plans and use of digital databases for claim
submission from creditors.
* Financial Services / 5h hrs ago
SENSEX SINKS BELOW 51K, NIFTY TESTS 15,200 ON US RECESSION FEARS, CENTRAL
BANK TIGHTENING
At 9.30 am, the BSE Sensex was trading 497.90 points or 0.97 per cent lower
at 50,997.89. Nifty50 was trading at 15,197.50, down 163.10 points or 1.06
per cent. Midcap and smallcap indices fell up to 1.8 per cent.
* Industry / 5h hrs ago
UK SLOWDOWN FEARS MOUNT AS GDP UNEXPECTEDLY SHRINKS IN APRIL
Gross domestic product contracted by 0.3% after falling by 0.1% in March, the
first back-to-back declines since April and March 2020, at the start of the
coronavirus pandemic. Economists polled by Reuters had on average expected
GDP to grow by 0.1% in April from March.
* Financial Services / 5h hrs ago
RUPEE MAY HAVE HIT 78 BUT ITS DEPRECIATION IS RATHER MODEST WHEN COMPARED TO
OTHER EMERGING MARKET CURRENCIES
The Indian rupee depreciated by 1.5 per cent against the US dollar
month-on-month in May 2022 on the back of foreign portfolio equity outflows
and a strong US dollar but the depreciation was rather modest relative to
other major emerging market currencies, showed a report by the Reserve Bank
of India
* Banking / 5h hrs ago
PNB STOPS 0.75 PER CENT INCENTIVE ON FUEL PURCHASES VIA DIGITAL MODES
Bharat Petroleum Corporation has informed that the OMCs (IOCL/BPCL/HPCL) have
decided to discontinue 0.75 per cent incentive on fuel purchases across all
digital modes of payments, according to a PNB notification on its website.
* Banking / 5h hrs ago
ICICI BANK TIES UP WITH SANTANDER FOR INDIA-UK BUSINESS EASE
The memorandum of understanding (MoU) between ICICI and Santander UK Plc,
signed in Mumbai, is designed to establish a framework of partnership between
the banks to meet the financial service requirements of corporate customers
operating within the India-UK corridor.
* Policy / 2h hrs ago
EMERGING MARKET ECONOMIES, INCLUDING INDIA, NEED TO KEEP FOREIGN EXCHANGE
RESERVES LIQUID: RBI PAPER
"Our results indicate that there is a 5 percent chance of portfolio outflows
from India of the order of 3.2 percent of GDP or US $ 100.6 billion in a year
in response to a COVID-type contraction in real GDP growth, or a global
financial crisis -GFC- type decline in interest rate differentials vis-à-vis
the US, or a GFC type surge in the VIX" said a study titled " Capital Flows
at Risk: India’s Experience" published in the latest RBI Bulletin.
* Policy / 2h hrs ago
FED'S UNCOMMON 75 MAY PUSH RBI TO GO FOR STEEP HIKES
Bankers said increments of 25 basis points each will not work now and the RBI
will have to go for a higher 50 basis point move to have any effect on
prices. What that means is the yield on the benchmark bond is set to
increase, possibly impacting government borrowing.
View More
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CRYPTOCURRENCY
* BITCOIN NEARS MICROSTRATEGY 'MARGIN CALL' PRICE
* CRYPTOCURRENCY MARKET VALUE SLUMPS UNDER $1 TRILLION
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