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NBFC


MUTHOOT GROUP BUILDING A SUPERAPP: SADAF SAYEED

Sadaf Sayeed, CEO of Muthoot Microfin, the microfinance arm of Muthoot Pappachan
Group, believes that the inflation will pull up the borrowing demand. He also
spoke about how the group is going aggressive on digitisation, and is building
its super app.


LATEST NEWS

 * 4h hrs ago Paytm Payments Bank expects central bank curbs to be lifted in
   three-five months
 * 4h hrs ago Bandhan Bank to increase exposure to secured loans: MD&CEO
 * 4h hrs ago No capital support from govt needed this year: Punjab & Sind Bank
   MD
 * 4h hrs ago Bank of Maharashtra eyes 25-30 pc jump in net profit in FY23
 * 4h hrs ago HDFC set to raise up to Rs 12,000 crore via bonds, in talks with
   LIC
 * 4h hrs ago Punjab National Bank earns over Rs 645 crore through ATM
   transaction charges in FY22
 * 4h hrs ago India's top crypto app CoinSwitch calls for regulatory 'peace,
   certainty'
 * 4h hrs ago India mulls $13 billion extra borrowing to offset fuel-tax cut

View More
Fintech

OUT OF 100 UNICORNS IN INDIA, 17 ARE FINTECHS

India's wave of unicorns reached its 100th one this month - Open, a neobank.
This is also the 17th FinTech to have gained the unicorn status. ETBFSI gives
you the list of the 17 FinTechs, along with the views of FinTech leaders.

Banking

RBI MUST SACK GURUMURTHY FOR HIS INDECENT REMARKS THAT CAUSED AN OUTRAGE: FORMER
AIBEA VP

Following S Gurumurthy's indecent remarks of calling PSB employees
'Kazhichadaikal’ (hair thrown away after shaving), ETBFSI spoke to Vishwas
Utagi, AIBOA leader and former VP of AIBEA. He said that Gurumurthy is shallow
in his understanding of the Indian economy and public sector banks, hence does
not deserve his seat on RBI. "In fact, now RBI and Central Govt must sack him,"
he added.

Policy

WHY THE LOW INTEREST RATES PARTY IS OVER

With inflation shooting up globally on abundant liquidity, the Russian invasion
of Ukraine and input shortages, the central banks have started coordinated
policy rate hikes. This is set to end the era of low rates of the last few
years. Here’s why.

Blog

PHYGITAL MODEL TO DRIVE THE NEXT PHASE OF FINANCIAL INCLUSION

Fintech solutions are now a key factor driving inclusion over the world, and the
trend is similar in India too. In fact, India had the highest fintech adoption
rate in the world at 87 % in 2021 and yet many are still underserved. This is
where the Phygital model steps in – a new and redefined outlook on financial
development that is capable of revolutionising the sector. Major players have
already begun unveiling their catalogue of phygital offerings and it is safe to
assume that this model will usher in the next phase of financial inclusion.

Blog

SUSTAINABILITY REPORTING AS A MEAN TO DECIDE THE FUTURE

Like every other regulation, CSR adoption experienced initial hesitation. Over
time, it has evolved to be a strategic investment, generating intangible
benefits in the form of stakeholder goodwill, positive brand reputation and
social license to operate. With CSR gaining maturity, businesses are now looking
to converge CSR to the larger theme of ESG. Deep CSR engagement complimented by
an all-round holistic view of risk across portfolio will eventually create the
strong impact narrative.

Blog

LIFELONG RENEWAL OF PERSONAL ACCIDENT INSURANCE TO GIVE ADDED COVER TO
POLICYHOLDERS

Personal Accident insurance provides compensation against any kind of unforeseen
incident that causes bodily harm to the policy holder during the tenure of the
policy cover. The insurance company pays the sum insured or a predetermined sum
of money in case of death, permanent total disability or partial
disability—wherein the percentage of sum insured paid varies as per the
disability suffered.

View More


TOP FEATURED STORIES

Insurance / 17 days ago


HOW INSURANCE COMPANIES ARE USING THE AA ECOSYSTEM TO TACKLE CHALLENGES

The efficiency and reduction in the turn-around time has led insurers to ramp up
their partnerships with account aggregators. ET BFSI spoke to BG Mahesh, the
co-founder of Sahamati, among other leading voices from the sector to understand
how the AA ecosystem is helping them tackle challenges.

 * Fintech
   
   HOW NEW RBI CREDIT CARD NORMS WILL HIT FINTECH FIRMS

 * Fintech
   
   'THE FINTECH WAVE THAT FELT LIKE AN AVALANCHE, NOW SEEMS LIKE A STRONG WIND'

 * NBFC
   
   NBFCS NEED TO DO A BAJAJ FINANCE IF THEY DON'T WANT TO TURN INTO A BANK

 * NBFC
   
   UDAY KOTAK SAYS IL&FS CRISIS TAUGHT ME DON'T LEND IF YOU DON'T UNDERSTAND

View More


BLOG

 * Dhruv Jain - CEO, CASHe
   
   PHYGITAL MODEL TO DRIVE THE NEXT PHASE OF FINANCIAL INCLUSION

 * Shrutee Ganguly and Anantha Narayan - Shrutee is Principal - Corporate
   Advisory and Anantha is Advisor at Sattva Consulting
   
   SUSTAINABILITY REPORTING AS A MEAN TO DECIDE THE FUTURE

 * Sudeep Goswami - Senior VP - Finance (Banking & Special Projects) - Hinduja
   Group
   
   GLOBAL CONGLOMERATES CAN INSULATE BALANCES SHEET WHEN THE INTEREST RATE CYCLE
   TURNS

 * Anil Aggarwal - MD & CEO, Shriram General Insurance
   
   LIFELONG RENEWAL OF PERSONAL ACCIDENT INSURANCE TO GIVE ADDED COVER TO
   POLICYHOLDERS

 * Bhushan Parekh - Director, CRISIL SME Solutions
   
   PANDEMIC PROPELS MSMES TOWARDS DIGITALISATION, LAYS STRONG FOUNDATION FOR
   SPUR IN LENDING

 * Krishnan Sitaraman - Senior Director, CRISIL Ratings
   
   YEAR OF CORPORATE CREDIT BECKONS

View More


FINTECH

Fintech / 1 hr ago


OUT OF 100 UNICORNS IN INDIA, 17 ARE FINTECHS

India's wave of unicorns reached its 100th one this month - Open, a neobank.
This is also the 17th FinTech to have gained the unicorn status. ETBFSI gives
you the list of the 17 FinTechs, along with the views of FinTech leaders.

 * Fintech / 1 hr ago
   
   PAYTM PAYMENTS BANK EXPECTS CENTRAL BANK CURBS TO BE LIFTED IN THREE-FIVE
   MONTHS

 * Fintech / 1 hr ago
   
   FINTECH COS GET INNOVATIVE TO CHARGE UP EV FINANCING

 * Fintech / 1 hr ago
   
   INDIA'S TOP CRYPTO APP COINSWITCH CALLS FOR REGULATORY 'PEACE, CERTAINTY'

 * Fintech / 1 day ago
   
   PAYTM FORMS JOINT VENTURE GENERAL INSURANCE FIRM; TO INVEST RS 950 CRORE IN
   10 YEARS

View More


POLICY

Policy / 1 hr ago


WHY THE LOW INTEREST RATES PARTY IS OVER

With inflation shooting up globally on abundant liquidity, the Russian invasion
of Ukraine and input shortages, the central banks have started coordinated
policy rate hikes. This is set to end the era of low rates of the last few
years. Here’s why.

 * Policy / 1 day ago
   
   INDIAN GOVERNMENT TRIMS TAX ON FUEL, ESSENTIAL COMMODITIES TO FIGHT INFLATION

 * Policy / 1 day ago
   
   CHINA BECOMES WILD CARD IN SRI LANKA'S RAGING DEBT CRISIS

 * Policy / 1 day ago
   
   RBI DIVIDEND TO CENTRE SLASHED BY 70% IN FY22

 * Policy / 1 day ago
   
   INTEREST PAID TO BANKS CUTS DOWN RBI SURPLUS

View More


NBFC



 * MUTHOOT GROUP BUILDING A SUPERAPP, ALL GROUP SERVICES TO BE AVAILABLE: SADAF
   SAYEED

 * KARNATAKA BANK CAN’T ACT AGAINST SREI DUO: HC

 * INDIABULLS HOUSING FINANCE Q4 PAT UP 11 PC AT RS 307 CRORE

 * IIFL FIN PLANS TO BUY BACK OVERSEAS BONDS

 * LENDENCLUB APPOINTS MUDIT AGARWAL AS CBO

 * NIRMAL JAIN ON HOW IIFL FINANCE AIMS TO KEEP COST OF CAPITAL LOW EVEN AS
   RATES RISE

 * MANAPPURAM FINANCE PLUNGES 11% AS Q4 PROFIT DOWN 44% YOY

 * AJAY SRINIVASAN QUITS AS MD OF ADITYA BIRLA CAPITAL

 * WHISTLEBLOWER PLAINT HAS NO MERIT: ADITYA BIRLA CAPITAL

 * SOARING HIGH WITH FEET FIRMLY ON GROUND

 * UPBEAT ON GROWTH PROSPECTS, LULU FINANCIAL HOLDINGS TO EXPAND NBFC BUSINESS
   IN INDIA

 * INDIABULLS HOUSING FINANCE MOVES NCLT AGAINST RADIUS ESTATE PROJECTS

 * POONAWALLA FINCORP RETURNS TO PROFIT

 * IIFL HOME FIN AIMS RS 7,200 CR GREEN, AFFORDABLE HOME LOANS WITH ADB IN
   TELANGANA, ANDHRA BY 2025

 * NEED HIGH TEENS GROWTH IN ALL THREE YEARS FOR DOUBLING BALANCE SHEET:
   MAHINDRA FINANCE CFO

 * ADITYA BIRLA CAPITAL Q4 RESULTS: PROFIT AFTER TAX RISES 20% TO RS 450 CRORE

 * LIC HOUSING FINANCE UPS HOME LOAN INTEREST RATE BY 20 BPS FOR SELECT
   BORROWERS

 * POONAWALLA FINCORP POSTS RS 118 CRORE Q4 PROFIT

 * CREDITACCESS GRAMEEN REPORTS 184% RISE IN PROFIT AT RS 160 CRORE

 * CHOLAMANDALAM FINANCIAL HOLDINGS REPORTS RS 36.30 CRORE AS STANDALONE NET IN
   Q4

View More


MORE FROM ETBFSI

 * Fintech / 4h hrs ago
   
   
   PAYTM PAYMENTS BANK EXPECTS CENTRAL BANK CURBS TO BE LIFTED IN THREE-FIVE
   MONTHS
   
   In March, the Reserve Bank of India ordered a comprehensive audit of the
   company's IT systems, citing "material" supervisory concerns, without
   elaborating further, and barring it from taking on new customers.

 * Banking / 4h hrs ago
   
   
   BANDHAN BANK TO INCREASE EXPOSURE TO SECURED LOANS: MD&CEO
   
   Private lender Bandhan Bank will gradually increase its exposure to secured
   loans by enhancing advances to the housing and MSME sectors, an official
   said.

 * Banking / 4h hrs ago
   
   
   NO CAPITAL SUPPORT FROM GOVT NEEDED THIS YEAR: PUNJAB & SIND BANK MD
   
   Capital adequacy ratio of the bank improved to 18.54 per cent in March 2022
   from 17.06 per cent as at March-end 2021 with the help of capital support
   from the government, bank's MD and CEO S Krishnan said.

 * Banking / 4h hrs ago
   
   
   BANK OF MAHARASHTRA EYES 25-30 PC JUMP IN NET PROFIT IN FY23
   
   Mumbai, May 22 (PTI) State-run Bank of Maharashtra is eyeing a 25-30 per cent
   growth in its net profit in the current financial year, aided by a healthy
   growth in net interest income (NII) and fall in provisions for bad assets.

 * Banking / 4h hrs ago
   
   
   HDFC SET TO RAISE UP TO RS 12,000 CRORE VIA BONDS, IN TALKS WITH LIC
   
   The home financier is in talks with LIC of India, SBI Pension funds and LIC
   Pension funds that are expected to buy into these bonds, debt market sources
   familiar with the matter told ET. HDFC will likely use the proceeds to expand
   its loan book amid robust demand for new homes.

 * Banking / 4h hrs ago
   
   
   PUNJAB NATIONAL BANK EARNS OVER RS 645 CRORE THROUGH ATM TRANSACTION CHARGES
   IN FY22
   
   Revenue earned by Punjab National Bank from ATM transaction charges stood at
   Rs 645.67 crore in financial year 2021-22, the bank said in response to an
   application seeking information under the Right to Information (RTI) Act. In
   2020-21, the bank had earned Rs 170 crore by levying charges on customers for
   not maintaining minimum balance in their accounts.

 * Fintech / 4h hrs ago
   
   
   INDIA'S TOP CRYPTO APP COINSWITCH CALLS FOR REGULATORY 'PEACE, CERTAINTY'
   
   India must establish rules on cryptocurrencies to resolve regulatory
   uncertainty, protect investors and boost its crypto sector, CoinSwitch CEO
   Ashish Singhal said on Sunday.

 * Industry / 4h hrs ago
   
   
   INDIA MULLS $13 BILLION EXTRA BORROWING TO OFFSET FUEL-TAX CUT
   
   Higher collections from GST as well as personal income taxes will be
   neutralized by additional spending on food and fertilizer subsidies that the
   government is giving to the poor and farmers.

View More


THREE YEARS OF ETBFSI

 * ETBFSI ANNIVERSARY SPECIAL: A LOOK-BACK ON OUR TOP 30 STORIES

 * LIC IPO SEEN INCREASING EQUITY PARTICIPATION: FINTECHS, BROKERAGES ON DEMAT
   ACCOUNT MANIA

 * NBFCS CAN'T HAVE BANK-LIKE REGULATIONS: RAMAN AGGARWAL

 * L&T FINANCE AIMS TO BECOME RETAIL NBFC, 'FINTECH @ SCALE' IN 4 YEARS

 * WEALTHTECH WONT MAKE YOU RICH ASAP; IT'S A LONG TERM BUSINESS SAYS ATUL
   SHINGHAL OF SCRIPBOX

 * MERGER WITH SHRIRAM TRANSPORT MAY COMPLETE BY OCT, 5 JOINT MDS DESIGNATED: YS
   CHAKRAVARTI

 * HOW WILL SOVEREIGN GREEN BONDS FARE?

 * HOW COLLABORATIONS BETWEEN INSURANCE COMPANIES AND INSURTECHS HAVE A
   MULTIFOLD EFFECT

 * NEXT 2 YEARS TO BE 'BIG BANG MOMENT' FOR B2B-BNPL: FLEXILOANS CO-FOUNDER
   DEEPAK JAIN

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CRYPTOCURRENCY

 * NINE DUPED OF RS 40 LAKH IN CRYPTO INVESTMENT FRAUD; 2 BOOKED

 * CRYPTO MARKET CAP CRASHES OVER $1 TRILLION IN LAST FEW DAYS. WHAT’S NEXT?

 * COINBASE INDIA HEAD TO RELOCATE TO US AMID HIRING SLOWDOWN

 * $1.6 BN WORTH ETHEREUM CRYPTOCURRENCY LOST FOREVER SINCE ITS 'PRESALE'

 * WAZIRX SAYS IT COMPLIED WITH ALL 1,023 REQUESTS FROM LAW ENFORCEMENT IN
   OCT-MAR

 * ELON MUSK REAFFIRMS THAT DOGECOIN HAS POTENTIAL AS A CURRENCY

 * CENTRAL BANK OF CHILE STUDIES HOW TO ISSUE ITS CENTRAL BANK DIGITAL CURRENCY

 * CRYPTOS CAN LEAD TO DOLLARISATION OF ECONOMY: RBI OFFICIALS TO PARLIAMENTARY
   PANEL

 * FIVE TRENDS POISED TO SHAPE THE FUTURE OF INDIA’S FINTECH SECTOR

View More


BFSI VIDEOS


 * INDIA’S LENDING SEGMENT UNTAPPED: CASHE FOUNDER
   
   V Raman Kumar, founder and chairman of CASHe, in this week's FinTech Diary
   told ETBFSI that he believes the reason why FinTechs are opting for lending
   is because it is an untapped market in India. CASHe has a lending run rate of
   around Rs 2,400 crore, with an average ticket size ranging from Rs 10,000 to
   Rs 3 lakhs. "Proof of the pudding is how our business model works, and we
   wanted to put our money where our mouth was.. so we are a lender on record..
   so we lend on our own balance sheet, and pay the bad debts.. We are currently
   running with about a 2-2.5% of bad debts," Kumar said. Tune in..

 * 36 days ago
   
   AUTOMATION MAKES DEFINITE DIFFERENCE IN TAKING AWAY MENIAL JOBS, SAY LEADERS

 * 46 days ago
   
   THE WORD 'BANKING' HAS IMPROVED, BUT BANKING HAS NOT: ZAGGLE FOUNDER RAJ N

 * 53 days ago
   
   LENDENCLUB CEO SEES CREDIT PATTERN CHANGE IN NEXT 5-10 YEARS

View More


EDITOR'S PICK

 * 1 hr ago
   
   MUTHOOT GROUP BUILDING A SUPERAPP, ALL GROUP SERVICES TO BE AVAILABLE: SADAF
   SAYEED

 * 1 hr ago
   
   RBI MUST SACK GURUMURTHY FOR HIS INDECENT REMARKS THAT CAUSED AN OUTRAGE:
   FORMER AIBEA VP

 * 2 mins ago
   
   OUT OF 100 UNICORNS IN INDIA, 17 ARE FINTECHS

 * 1 hr ago
   
   WHY THE LOW INTEREST RATES PARTY IS OVER

 * 1 day ago
   
   PHYGITAL MODEL TO DRIVE THE NEXT PHASE OF FINANCIAL INCLUSION


MOST READ

 * 7 days ago
   
   LIC IPO SHOULD GET LISTED 5-10% ABOVE OFFER PRICE: NILESH SATHE

 * 5 days ago
   
   WILL LIC SHARE THE SAME FATE OF LISTED PSUS?

 * 4 days ago
   
   INSURANCE BROKERS EXPLAIN WHY PREMIUM RATES ON TERM POLICIES ARE SKYROCKETING

 * 4 days ago
   
   LIC LISTING: ANALYSTS FEAR STOCK MAY DIP FURTHER

 * 3 days ago
   
   RBI BUYS RECORD GOLD AS INFLATION, WAR WORRIES SPIKE

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