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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
   
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   a press release.

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CRYPTOCURRENCY

 * NFT MARKETPLACE OPENSEA SLASHES 20% OF JOBS

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