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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 * 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 NBFC DIGITAL DISRUPTION NEW NORMAL, WORKING ON ‘SHRIRAM ONE’ SUPER APP: REVANKAR AND CHAKRAVARTI Shriram Transport Finance Company and Shriram City Union Finance has received approval from equity shareholders and secured and unsecured creditors last week for the merger of STFC with SCUF. Since we were the first to report about the merger deadline, ETBFSI followed up with YS Chakravarti, MD and CEO of SCUF, and Umesh Revankar, VC and MD of STFC, on what is going to change after the merger. LATEST NEWS * 3h hrs ago Global regulators back 'same risk, same regulation' for stablecoins * 3h hrs ago Yes Bank's credit committee to meet today to consider JV partner for ARC * 3h hrs ago Avoiding risk and ensuring seamless customer experience: ICICI Prudential Life Insurance * 3h hrs ago Markets bounce back after 2-day fall * 3h hrs ago Coinbase's Brian Armstrong explains efficiency measures amid rising volatility * 3h hrs ago RBI cancels Certificate of Registration of four NBFCs * 29m mins ago RBI approves Rakesh Makhija's reappointment as Axis Bank's Non-Executive Chairman * 39m mins ago RBI meets bank executives to get market pulse View More Policy INFLATION BY MARCH 2023 SEEN CLOSER TO 5%: REPORT As per the data released by the NSO, CPI inflation moderated slightly to 7.01 per cent in the previous month of June as compared to 7.04 per cent in May due to moderation in food inflation. Industry SC VERDICT ON VIJAY MALLYA TO SEND A STERN MESSAGE TO BIG-TICKET LOAN DEFAULTERS Bankers hope that the verdict will increase their prospects of recoveries, already in progress and importantly give a stern message to other big-ticket loan defaulters. Fintech VOICE PAYMENTS TO BE THE NEXT BIG INNOVATION IN THE FINTECH ECOSYSTEM : AMAZON PAY'S BANSAL Vikas Bansal, Director, Amazon Pay India recently in an event, highlighted how the payments ecosystem has evolved over the centuries – from cards to cheques to cards with pins to swipe and pay, and tap and pay now, and that the next big innovation in this ecosystem will be ‘speak & pay'. Insurance TIME TO GO BEYOND TRADITIONAL SEGMENTATION; FOCUS ON REBALANCING PRODUCT MIX: MAX LIFE DMD In a recent interview with ETBFSI, V Viswanand, DMD, Max Life Insurance, spoke about the importance of data and hyper personalisation in Insurance, company's digital strategy, life insurance industry outlook among other interesting talk points. He also shared his insights on how personalization is set to go beyond traditional segmentation in Insurance and how a significant effort to balance the product mix besides focusing on new sales benefited the company in Q4 FY22. Insurance LIFE INSURANCE INDUSTRY PREMIUM TRAJECTORY REMAINS STRONG: REPORT Private life insurers posted strong YoY growth 48 per cent in total annual premium equivalent (APE) in the first quarter of FY23. Meanwhile, LIC reported strong 47 per cent YoY growth in individual APE in Q1FY23 respectively. Banking CHINESE BANKS DOMINATE AS TIER 1 CAPITAL OF WORLD'S TOP 1,000 BANKS CROSSES $10 TRILLION Aggregate total assets too have broken the $150 trillion barrier for the first time at $154.21 trillion. Profits posted a healthy rebound, with aggregate pre-tax figures rising 53.7 per cent to a record $1.44. View More TOP FEATURED STORIES Insurance / 15 days ago AFTER 21 YEARS OF PRIVATISATION AND EXTENSIVE EFFORT, HOW HAS INDIA'S INSURANCE SECTOR EVOLVED? On the occasion of National Insurance Awareness Day, ET BFSI spoke to a few industry captains to understand how far has the sector come after more than two decades of privatization, how is technology disrupting insurance post covid, role of the regulator in increasing insurance penetration in the country and future growth outlook. Here's what they said. * 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' * Fintech INDIAN FINTECHS GARNER 42% SHARE OF $3.3 BILLION DEALS IN APAC REGION View More BLOG * 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 * Sanjay Tiwari - Chief Strategy Officer, Exide Life Insurance PRODUCT INNOVATION IN INSURANCE: THE NEW IMPERATIVE FOR A COMFORTABLE RETIREMENT View More FINTECH Fintech / 17 mins ago VOICE PAYMENTS TO BE THE NEXT BIG INNOVATION IN THE FINTECH ECOSYSTEM : AMAZON PAY'S BANSAL Vikas Bansal, Director, Amazon Pay India recently in an event, highlighted how the payments ecosystem has evolved over the centuries – from cards to cheques to cards with pins to swipe and pay, and tap and pay now, and that the next big innovation in this ecosystem will be ‘speak & pay'. * Fintech / 2 hrs ago GLOBAL REGULATORS BACK 'SAME RISK, SAME REGULATION' FOR STABLECOINS * Fintech / 2 hrs ago COINBASE'S BRIAN ARMSTRONG EXPLAINS EFFICIENCY MEASURES AMID RISING VOLATILITY * Fintech / 18 hrs ago BITBNS INTRODUCES TAX SHIELD TO 'AVOID' TDS ON SIP INVESTMENTS IN CRYPTOS * Fintech / 20 hrs ago BITCOIN MAY HIT RECORD-LOW OF $10,000 PER DIGITAL COIN SOON View More POLICY Policy / 1 min ago INFLATION BY MARCH 2023 SEEN CLOSER TO 5%: REPORT As per the data released by the NSO, CPI inflation moderated slightly to 7.01 per cent in the previous month of June as compared to 7.04 per cent in May due to moderation in food inflation. * Policy / 2 hrs ago RBI CANCELS CERTIFICATE OF REGISTRATION OF FOUR NBFCS * Policy / 6 hrs ago RBI MEETS BANK EXECUTIVES TO GET MARKET PULSE * Policy / 6 hrs ago RUPEE SETTLEMENT MAY BRING ANNUAL SAVINGS OF $36 BILLION IN HARD CURRENCY * Policy / 18 hrs ago RBI CHIEF SIGNALS POLICY WON’T SACRIFICE GROWTH TOO MUCH View More NBFC * 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 * INDIABULLS HOUSING RAISES $100 MILLION VIA OFFSHORE LOAN FROM SBI * PNB HOUSING FIN TO SEEK SHAREHOLDERS' NOD NEXT MONTH TO RAISE RS 12,000 CR IN DEBT * CHENNAI: SHRIRAM TRANSPORT’S Q1 DISBURSEMENTS UP 15% * VEHICLE FINANCIERS SEE STEADY ROAD; MARGIN COMPRESSION IMMINENT: REPORT * SEBI ASKS PFS NOT TO CHANGE BOARD TILL COMPLETION OF FORENSIC AUDIT View More MORE FROM ETBFSI * Fintech / 3h hrs ago GLOBAL REGULATORS BACK 'SAME RISK, SAME REGULATION' FOR STABLECOINS CRYPTO-CURRENCY-Global regulators back 'same risk, same regulation' for stablecoins * Banking / 3h hrs ago YES BANK'S CREDIT COMMITTEE TO MEET TODAY TO CONSIDER JV PARTNER FOR ARC Under the Swiss Challenge method of procurement, a candidate makes a proposal for a project, which is put to seek more proposals. Once these are received, the original candidate is allowed to match the best bid. * Insurance / 3h hrs ago AVOIDING RISK AND ENSURING SEAMLESS CUSTOMER EXPERIENCE: ICICI PRUDENTIAL LIFE INSURANCE AI, NLP, and RPA are the solutions for dealing with volume, providing instant and 24X7 customer service. Ganessan Soundiram, CTO at ICICI Prudential Life Insurance shares a few examples of where the business requirement of scale and reliability were achieved using new-age digital technologies * Financial Services / 3h hrs ago MARKETS BOUNCE BACK AFTER 2-DAY FALL Mumbai, Jul 13 (PTI) Benchmark indices bounced back on Wednesday after two days of decline with the Sensex climbing 324.61 points in early trade amid positive trends in Asian markets. The 30-share BSE Sensex opened on a positive note and advanced 324.61 points to 54,211.22. * Fintech / 3h hrs ago COINBASE'S BRIAN ARMSTRONG EXPLAINS EFFICIENCY MEASURES AMID RISING VOLATILITY Last month, Coinbase had to let go of some US employees owing to stalling growth. * Policy / 3h hrs ago RBI CANCELS CERTIFICATE OF REGISTRATION OF FOUR NBFCS * Banking / 29m mins ago RBI APPROVES RAKESH MAKHIJA'S REAPPOINTMENT AS AXIS BANK'S NON-EXECUTIVE CHAIRMAN New Delhi, Jul 12 (PTI) Axis Bank on Tuesday said Reserve Bank of India (RBI) has approved the reappointment of Rakesh Makhija as the Non-Executive Chairman till October 2023. * Policy / 39m mins ago RBI MEETS BANK EXECUTIVES TO GET MARKET PULSE This comes amid a falling rupee, which has triggered a slew of regulatory actions aimed at bringing back overseas inflows and cutting import-related dollar payments. View More SUBSCRIBE TO OUR NEWSLETTER 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. CRYPTOCURRENCY * 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 * WILL THE CRYPTO WINTER SHUT SMALLER EXCHANGES OR LEAD TO ACQUISITION BY BIGGER WHALES? * BANK OF ENGLAND: CRYPTO CRASHES SHOW NEED FOR TOUGHER RULES View More BFSI VIDEOS * INDIAN FINTECHS WILL MOVE TOWARDS 2ND ORDER PRODUCTS IN THE NEXT 3 YEARS, SAYS MADHUSUDHAN R Madhusudan R, Founder and CEO, M2P Fintech at the ETBFSI FinNext Summit 2022 said that the Fintech Sector has hit a speed breaker in regards to the funding slowdown but he thinks it's only to accelerate the growth from here in terms of how it is made sure that a lot of unwarranted stuff is cut out. "Investment in Fintechs is like how we personally invest in the market. When the markets crash, we pull back our money and stop as there is a lot of fear. The venture world is no different and I hope that in the next 6-12 months things will start to get back on track". Madhusudan also believes that Indian Fintechs are still at a very early stage and are catering to what he calls first order products that fulfill basic needs. In the next 2-3 years, we'll start looking at second order products like autopilot investment management. He also shared his insights on how open banking is evolving in India very differently from how the world sees it primarily because at the macro level certain things are going very well for India. * 9 days ago CO-LENDING MODEL A SURE SHOT SUCCESS, SAYS MONU RATRA OF IIFL HOME FINANCE * 12 days ago NEXT 5 YEARS TO BE THE BRIGHTEST FOR INDIAN FINTECHS, SAYS LENDENCLUB CEO * 13 days ago CREDIT DEMAND TO REMAIN POSITIVE IN SPITE OF RATE HIKE, NO IMMEDIATE SLOWDOWN, SAYS UMESH REVANKAR View More EDITOR'S PICK * 17 mins ago VOICE PAYMENTS TO BE THE NEXT BIG INNOVATION IN THE FINTECH ECOSYSTEM : AMAZON PAY'S BANSAL * 5 hrs ago SC VERDICT ON VIJAY MALLYA TO SEND A STERN MESSAGE TO BIG-TICKET LOAN DEFAULTERS * 5 hrs ago DIGITAL DISRUPTION NEW NORMAL, WORKING ON ‘SHRIRAM ONE’ SUPER APP: REVANKAR AND CHAKRAVARTI * 2 hrs ago TIME TO GO BEYOND TRADITIONAL SEGMENTATION; FOCUS ON REBALANCING PRODUCT MIX: MAX LIFE DMD * 19 hrs ago RBI IMPOSES PENALTY OF RS 1.67 CRORE ON OLA FINANCIAL SERVICES MOST READ * 4 days ago IRDAI PROCESSING LICENCE APPLICATIONS OF 12 COMPANIES * 2 days ago 15 FINTECHS RAISE $420.7 MILLION IN JUNE: PGA LABS * 6 days ago INCREASED PARTICIPATION IN STOCKS NOT TO SUSTAIN, ONLY ABOUT 10 CR INDIANS HAVE ENOUGH MONEY TO INVEST : NITHIN KAMATH * 5 hrs ago SC VERDICT ON VIJAY MALLYA TO SEND A STERN MESSAGE TO BIG-TICKET LOAN DEFAULTERS * 5 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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