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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 PSU BANKS TO GO LIVE ON ACCOUNT AGGREGATOR SYSTEM BY JULY-END SBI, Canara Bank, Punjab National Bank and Indian Bank have started their implementation while others are in various phases of testing. LATEST NEWS * 5h hrs ago PNB MetLife announces Rs 594 crore bonus to policyholders for FY22 * 5h hrs ago A top insurer is betting that equities rout will end soon * 5h hrs ago Insurance claims: GCCI writes to IRDAI * 5h hrs ago Bank credit grows by 13.29%, deposits by 9.77% * 5h hrs ago DHFL approved loans worth crores of rupees to Sanjay Chhabria within minutes without documentation, says CBI * 5h hrs ago Rupee edges closer to 80 per US dollar: How does it affect Indian consumers * 5h hrs ago Yes Bank picks JC Flowers ARC as JV partner to offload distressed loans worth Rs 48,000 cr * 5h hrs ago Kotak Mahindra Bank completes its integration for direct tax payments View More Fintech FINTECH PLAYERS USING LOCATION DATA MAY BE HIT BY NPCI'S CONSENT RULE UPI players will now have to take the consent of users for collecting this location data. This will impact customers who use location points to build risk profiles of customers. Financial Services PHYGITAL MODEL TO ADDRESS CHALLENGES AND EXPAND IN RURAL BHARAT: EXPERTS Recently, Spice Money provided access to essential financial services for Komic, the world's highest village in Himachal Pradesh, by introducing Mini-ATM services. Paynearby also expanded its services to Jammu and Kashmir, Sela Pass on the Indo-China Border and Lakhpat on the Indo- Pakistan border. While BFSI companies are aggressively driving financial inclusion in rural Bharat, ETBFSI spoke to few industry stalwarts on this. Fintech MAJOR CRYPTO EXCHANGES UNDER ED PROBE FOR FLOUTING KYC, ANTI-MONEY LAUNDERING RULES Many of the investments have not been filed under the Reserve Bank of India ‘s foreign currency-gross provisional return filing. The probe found that crypto exchanges used wallet infrastructure of foreign crypto exchanges. Blog SEMI-URBAN/RURAL AFFORDABLE HOUSING OUTPACING URBAN DEMAND Expectations of a good harvest and increased disposable income have reduced the risk aversion that had crept into the rural economy during the pandemic, instead fuelling the appetite for big-ticket purchases or investments, including home buying. Increased disposable income in the hands of rural customers has also aided the demand for affordable housing. Insurance LIC'S EMBEDDED VALUE AT RS 5.41 CRORE; VNB MARGIN AT 15.1% Life Insurance Corporation of India (LIC) today reported its embedded value at Rs 5.41 crore as of March 31, 2022. It also announced that its VNB margin for FY22 improved to 15.1% as compared to 9.9% in FY21. Banking INDIA'S TOP THREE PRIVATE BANKS GROW FIRM'S CASH MANAGEMENT SHARE TO 40% The strong growth of the country’s private sector banks is due to a combination of favourable regulation and impressive technological innovation. The RBI's 2020 circular establishing new rules on current accounts strengthened the competitive advantage of large corporate lenders. View More TOP FEATURED STORIES Banking / 11 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 * 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 * 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 View More FINTECH Fintech / 48 mins ago MAJOR CRYPTO EXCHANGES UNDER ED PROBE FOR FLOUTING KYC, ANTI-MONEY LAUNDERING RULES Many of the investments have not been filed under the Reserve Bank of India ‘s foreign currency-gross provisional return filing. The probe found that crypto exchanges used wallet infrastructure of foreign crypto exchanges. * Fintech / 3 hrs ago NFT MARKETPLACE OPENSEA SLASHES 20% OF JOBS * Fintech / 3 hrs ago FINTECH PLAYERS USING LOCATION DATA MAY BE HIT BY NPCI'S CONSENT RULE * Fintech / 21 hrs ago INTERNET BODY TO DISMANTLE BLOCKCHAIN AND CRYPTO ASSETS COUNCIL * Fintech / 23 hrs ago CRYPTO LENDER CELSIUS FILES FOR BANKRUPTCY View More POLICY Policy / 3 hrs ago ECO GAINS HOLDING, BUT RISKS REMAIN: FINMIN India’s macro risks have receded in the last six weeks due to the steps taken by the Centre & the Reserve Bank of India (RBI), and the decline in oil prices due to global recession fears, the finance ministry said in a report on Thursday. * Policy / 16 hrs ago BROKERS SEEK EASIER NORMS, URGE SEBI TO APPROACH RBI * Policy / 1 day ago FED COULD WEIGH 100 BPS HIKE AFTER INFLATION SCORCHER * Policy / 1 day ago INFLATION BY MARCH 2023 SEEN CLOSER TO 5%: REPORT * Policy / 2 days ago RBI CANCELS CERTIFICATE OF REGISTRATION OF FOUR NBFCS View More NBFC * 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 * 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 View More MORE FROM ETBFSI * Insurance / 5h hrs ago PNB METLIFE ANNOUNCES RS 594 CRORE BONUS TO POLICYHOLDERS FOR FY22 The insurer said it has been consistently declaring bonuses on participating products every year, and the bonus amount for FY22 is 12 per cent higher than that of FY21. This bonus sum will benefit 4.95 lakh customers whose policies were in force as of 31st March 2022, PNB MetLife said in a release. * Insurance / 5h hrs ago A TOP INSURER IS BETTING THAT EQUITIES ROUT WILL END SOON Bajaj Allianz Life Insurance Co. is drawing down its cash pile to load up Indian stocks on a bet that the equity market rout will bottom out soon. * Insurance / 5h hrs ago INSURANCE CLAIMS: GCCI WRITES TO IRDAI Gujarat Chamber of Commerce & Industry (GCCI) has written to the Insurance Regulatory and Development Authority of India (IRDAI) to intervene and ensure immediate payment of 75% of claim amounts for damage caused by the heavy rainfall in Gujarat. * Banking / 5h hrs ago BANK CREDIT GROWS BY 13.29%, DEPOSITS BY 9.77% In the fortnight ended June 17, 2022, bank credit grew by 8.31 per cent and deposits by 12.05 per cent. * Industry / 5h hrs ago DHFL APPROVED LOANS WORTH CRORES OF RUPEES TO SANJAY CHHABRIA WITHIN MINUTES WITHOUT DOCUMENTATION, SAYS CBI Kapil Wadhawan, erstwhile promoter of Dewan Housing Finance Corporation Ltd (DHFL), a non-banking financial institution, ensured that his firm disbursed loans worth crores of rupees to city-based builder Sanjay Chhabariaa within a few minutes after receiving related requests without any documentation through online transfers at different points of time in 2018, said the CBI chargesheet against them filed in the court recently. * Financial Services / 5h hrs ago RUPEE EDGES CLOSER TO 80 PER US DOLLAR: HOW DOES IT AFFECT INDIAN CONSUMERS A blowout inflation print from the US and the prospect of a recession have analysts in a tense huddle over the Indian National Rupee's (INR) descent. Analysts fear that a slowdown in the world’s biggest economy is bound to exacerbate the pressure from outflows. The Rupee has already fallen over 6.5% this year amid fears of a global recession and deteriorating external balances fuel outflows. * Banking / 5h hrs ago YES BANK PICKS JC FLOWERS ARC AS JV PARTNER TO OFFLOAD DISTRESSED LOANS WORTH RS 48,000 CR Private lender Yes Bank has signed a term sheet with JC Flowers Asset Reconstruction (ARC) for the sale of identified stressed loans of the bank aggregating to up to Rs. 48,000 crore, it said in a stock exchange filing on Friday. * Banking / 5h hrs ago KOTAK MAHINDRA BANK COMPLETES ITS INTEGRATION FOR DIRECT TAX PAYMENTS Kotak customers can now pay their direct taxes through the e-pay tax tab on the portal using Kotak Net Banking or by visiting a branch, the bank said in a press release. 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CRYPTOCURRENCY * 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 * 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 View More BFSI VIDEOS * FINTECH DIARY WITH NITHIN KAMATH, FOUNDER AND CEO, ZERODHA Catch the Fintech Diary with Nithin Kamath, Founder and CEO of India's largest stock broker - Zerodha. * 9 days ago INDIAN FINTECHS WILL MOVE TOWARDS 2ND ORDER PRODUCTS IN THE NEXT 3 YEARS, SAYS MADHUSUDHAN R * 11 days ago CO-LENDING MODEL A SURE SHOT SUCCESS, SAYS MONU RATRA OF IIFL HOME FINANCE * 14 days ago NEXT 5 YEARS TO BE THE BRIGHTEST FOR INDIAN FINTECHS, SAYS LENDENCLUB CEO View More EDITOR'S PICK * 48 mins ago MAJOR CRYPTO EXCHANGES UNDER ED PROBE FOR FLOUTING KYC, ANTI-MONEY LAUNDERING RULES * 3 hrs ago FINTECH PLAYERS USING LOCATION DATA MAY BE HIT BY NPCI'S CONSENT RULE * 3 hrs ago PSU BANKS TO GO LIVE ON ACCOUNT AGGREGATOR SYSTEM BY JULY-END * 3 hrs ago PHYGITAL MODEL TO ADDRESS CHALLENGES AND EXPAND IN RURAL BHARAT: EXPERTS * 17 hrs ago LIC'S EMBEDDED VALUE AT RS 5.41 CRORE; VNB MARGIN AT 15.1% MOST READ * 5 days ago IRDAI PROCESSING LICENCE APPLICATIONS OF 12 COMPANIES * 2 days ago SC VERDICT ON VIJAY MALLYA TO SEND A STERN MESSAGE TO BIG-TICKET LOAN DEFAULTERS * 4 days ago 15 FINTECHS RAISE $420.7 MILLION IN JUNE: PGA LABS * 3 days ago PRIVATISE ALL PUBLIC SECTOR BANKS EXCEPT SBI FOR NOW: ECONOMISTS * 7 days ago FRAUDSTERS 'HACKING' CONSUMERS' MINDS TO STEAL MONEY * 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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