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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 Banking WHAT LESSONS INDIAN BANKS CAN LEARN FROM SILICON VALLEY BANK COLLAPSE Indian banks are mostly secured with its diverse deposit sources, but the downfall of SVB still has important lessons for them about not concentrating any kind of risk. BCG lists several measures. LATEST NEWS * 3h hrs ago Currency in circulation at Rs 31.22 lakh crore as of March 2022 * 3h hrs ago E-rupee worth over Rs 130 crore in circulation: Nirmala Sitharaman * 3h hrs ago RBI clears IndusInd CEO for 2 more years * 3h hrs ago LIC's debt exposure to Adani Group at Rs 6,183 cr, down marginally from Dec: FM Sitharaman * 3h hrs ago IRDAI mandates creation of new standardised cover for mental illnesses; will it be easier buy insurance now? * 3h hrs ago Startups must find ways to survive winter: Singapore Monetary Authority official * 3h hrs ago India's retail inflation slows to 6.4% in Feb, stays above RBI's tolerance limit for second straight month * 3h hrs ago Sebi looking into 'market allegations' against Adani: Finance Ministry View More NBFC ‘FIRST-MOVER ADVANTAGE, SPEED OF EXECUTION PIVOTAL IN OUR INNOVATION JOURNEY’: ABHAY BHUTADA, MD POONAWALLA FINCORP In an exclusive interview with ETBFSI, Abhay Bhutada, the Managing Director of Poonawalla Fincorp shared his views on MSME businesses, how was this fiscal for the company, and most importantly how the innovative products in the sector are helping it to grow. Here are the excerpts: Insurance ALIGN INDIAN INSURERS AT PAR WITH GLOBAL STANDARDS FOR GREATER PENETRATION: STUDY The study by the National Insurance Academy of India and RIMS found that Indian insurers do not have the freedom to issue customised policy wordings, offer loss-limit based policies, or increase deductibles for commercial policyholders. Banking SILICON VALLEY BANK CRISIS: STUNNING 48 HOURS OF COLLAPSE Starting from Wednesday’s announcement on selling of securities at a loss to Friday’s move on halt on trading, the stunning development of Silicon Valley Bank (SVB) unfolded in 48 hours leaving the start-up industry in an awe. Here’s a recap: Industry UK PM RISHI SUNAK’S MESSAGE OF REASSURANCE ON SILICON VALLEY BANK CRISIS In his LinkedIn post, UK's Prime Minister Rishi Sunak said that the customers of Silicon Valley Bank UK will be able to access their deposits and banking services as normal from today itself because SVB's UK arm has been sold to HSBC. Industry WHY SILICON VALLEY BANK FAILED DESPITE HUGE DEPOSITS, PRUDENT LENDING POLICIES SVB made a conservative decision to increase its investment in "safe" securities. However, the bank severely misjudged the duration risk. Banking HSBC ACQUIRES SILICON VALLEY BANK UK FOR £1; GETS DEPOSITS WORTH US$ 8.1 BLN HSBC chief executive Noel Quinn said the acquisition of Silicon Valley Bank makes "excellent strategic sense" for the it's UK business and strengthens HSBC's commercial banking franchise and enhances the ability to serve innovative and fast-growing firms. View More TOP FEATURED STORIES NBFC / 3 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 * Mr. Rikhil Shah - CFO, SBI General Insurance CFO IMPERATIVES AMIDST THE CHANGING LANDSCAPE OF INDIA'S INSURANCE SECTOR * Syed Hasan Jafar - Associate Professor, HOD of Finance and Director of Bloomberg Lab at Woxsen University. INDIAN FINTECH ROADMAP: PROJECTION FOR THE NEXT DECADE * 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 / 2 hrs ago STARTUPS MUST FIND WAYS TO SURVIVE WINTER: SINGAPORE MONETARY AUTHORITY OFFICIAL Silicon Valley Bank's abrupt collapse -- that unfolded in a matter of hours earlier last week -- has left Silicon Valley entrepreneurs unnerved and jittery. Federal Deposit Insurance Corporation on Friday seized the assets of Silicon Valley Bank -- the action reportedly in the middle of the business day highlighted the severity of the situation. * Fintech / 21 hrs ago REGULATION CAN PLAY SUPPORTING ROLE FOR FINTECH ECOSYSTEM: RBI DY GUV * Fintech / 22 hrs ago SOME FINTECHS WILL FAIL SOON, WE’LL INVEST AFTER THAT: QED * Fintech / 22 hrs ago BILLIONS WORTH OF CRYPTO TRADES AT RISK AS BANK SHUTDOWNS TAKE TOLL * Fintech / 23 hrs ago TOP PAYMENT TRENDS TO WATCH OUT FOR IN FY24 View More POLICY Policy / 2 hrs ago RBI CLEARS INDUSIND CEO FOR 2 MORE YEARS The Reserve Bank of India (RBI) has approved the reappointment of Sumant Kathpalia as MD & CEO of IndusInd Bank for two years from March 24. * Policy / 1 day ago INFLATION EXPECTED TO COME DOWN OVER THE YEAR: RBI MPC MEMBER ASHIMA GOYAL * Policy / 2 days 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 / 6 days ago US FED MULLS BIGGER RATE HIKES TO COOL US ECONOMY View More NBFC * ‘FIRST-MOVER ADVANTAGE, SPEED OF EXECUTION PIVOTAL IN OUR INNOVATION JOURNEY’: ABHAY BHUTADA, MD POONAWALLA FINCORP * PNB HOUSING FINANCE'S RS 2,500 CRORE RIGHTS ISSUE GETS SEBI'S NOD * SHRIRAM FINANCE INTEREST RATES CONTINUE TO REMAIN COMPETITIVE IN THE FIXED DEPOSIT MARKET * 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 View More MORE FROM ETBFSI * Industry / 3h hrs ago CURRENCY IN CIRCULATION AT RS 31.22 LAKH CRORE AS OF MARCH 2022 The Indian currency, in circulation, has increased from Rs 13 lakh crore in 2014 to Rs 31.33 lakh crore in March 2022. The objective of demonetisation, announced on November 8, 2016, was to contain fake currency notes, to limit the usage of high denomination banknotes for storage of unaccounted wealth, and to contain the rising level of using fake currency for financing subversive activities like drug trafficking and terrorism. * Industry / 3h hrs ago E-RUPEE WORTH OVER RS 130 CRORE IN CIRCULATION: NIRMALA SITHARAMAN Nine banks, viz., State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC, have been participating in the digital rupee wholesale pilot, Sitharaman said. * Policy / 3h hrs ago RBI CLEARS INDUSIND CEO FOR 2 MORE YEARS The Reserve Bank of India (RBI) has approved the reappointment of Sumant Kathpalia as MD & CEO of IndusInd Bank for two years from March 24. * Insurance / 3h hrs ago LIC'S DEBT EXPOSURE TO ADANI GROUP AT RS 6,183 CR, DOWN MARGINALLY FROM DEC: FM SITHARAMAN Sitharaman said the LIC's debt exposure to Adani stands at Rs 6,183 crore as of March 5. Of the total value, Adani Ports contributed Rs 5,388 crore and exposure to Adani Power (Mundra) stood at Rs 266 crore. * Insurance / 3h hrs ago IRDAI MANDATES CREATION OF NEW STANDARDISED COVER FOR MENTAL ILLNESSES; WILL IT BE EASIER BUY INSURANCE NOW? On 27 February this year, the insurance regulator issued a circular to all general and standalone health insurers to ‘mandatorily launch and immediately offer’ an ‘appropriate product’ and a ‘specific cover’ for persons with mental illnesses, disabilities and HIV/AIDS. * Fintech / 3h hrs ago STARTUPS MUST FIND WAYS TO SURVIVE WINTER: SINGAPORE MONETARY AUTHORITY OFFICIAL Silicon Valley Bank's abrupt collapse -- that unfolded in a matter of hours earlier last week -- has left Silicon Valley entrepreneurs unnerved and jittery. Federal Deposit Insurance Corporation on Friday seized the assets of Silicon Valley Bank -- the action reportedly in the middle of the business day highlighted the severity of the situation. * Industry / 3h hrs ago INDIA'S RETAIL INFLATION SLOWS TO 6.4% IN FEB, STAYS ABOVE RBI'S TOLERANCE LIMIT FOR SECOND STRAIGHT MONTH Higher inflation has been a concern for central banks across the world, including India, as the uncertain nature of the Russia-Ukraine war compounded supply-side disruptions in the post-pandemic world that was barely going through a nascent recovery from economic shocks. * Industry / 3h hrs ago SEBI LOOKING INTO 'MARKET ALLEGATIONS' AGAINST ADANI: FINANCE MINISTRY Minister of state for finance Pankaj Chaudhary, in written replies to various questions asked by parliamentarians, stated that the government has not constituted any committee to investigate the allegations made against the Adani Group of companies by short-seller Hindenburg Research of the United States. 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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. * 7 days ago ANAND PEJAWAR OF SBI GENERAL INSURANCE ON 3 THINGS THAT DRIVE INNOVATION * 13 days ago DEPUTY DIRECTOR GENERAL OF UIDAI TALKS ABOUT DATA, TRANSFORMATION IN BFSI SECTOR * 13 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 * 2 hrs ago ‘FIRST-MOVER ADVANTAGE, SPEED OF EXECUTION PIVOTAL IN OUR INNOVATION JOURNEY’: ABHAY BHUTADA, MD POONAWALLA FINCORP * 2 hrs ago ALIGN INDIAN INSURERS AT PAR WITH GLOBAL STANDARDS FOR GREATER PENETRATION: STUDY * 2 hrs ago WHAT LESSONS INDIAN BANKS CAN LEARN FROM SILICON VALLEY BANK COLLAPSE * 16 hrs ago UK PM RISHI SUNAK’S MESSAGE OF REASSURANCE ON SILICON VALLEY BANK CRISIS * 18 hrs ago IIP GROWTH EXCEEDS EXPECTATIONS, 4.6% GDP GROWTH EXPECTED IN Q4 FY23 MOST READ * 3 days ago YES BANK TO STAY VOLATILE AS THREE-YEAR LOCK-IN ON SHAREHOLDING LIFTS * 6 days ago JIO FINANCIAL GEARS UP FOR LISTING, HIRES HITESH SETHIA AS CEO * 5 days ago HOW IS THE BOND REPAYMENT SCHEDULE OF ADANI GROUP? * 6 days ago INTERNATIONAL WOMEN'S DAY 2023: WOMEN IN BFSI WHO ARE BREAKING THE GLASS CEILING * 22 hrs ago BAJAJCAPITAL APPOINTS SHEKHAR SOOD AS THE NEW CFO * 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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