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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 Fintech ONECARD SEES FINTECHS CAPTURING SIGNIFICANT MARKET SHARE OF CREDIT CARDS, IN PARTNERSHIP WITH BANKS Pune-based FPL Technologies’ OneCard was launched in June 2020, with an aim of building a credit card which was more customer experience centric. ETBFSI spoke to Anurag Sinha, CEO and Co-Founder of OneCard. He gave insights into OneCard and the broader credit cards industry. LATEST NEWS * 5h hrs ago Global credit conditions more negative amid rising borrowing costs, slower eco growth: Moody's * 5h hrs ago Bitcoin poised for biggest quarterly drop in more than a decade * 5h hrs ago RBI battles against rupee’s slump with multi-pronged strategy * 5h hrs ago PNB Housing Fin to seek shareholders' nod next month to raise Rs 12,000 cr in debt * 2h hrs ago Gas lines and scuffles: Sri Lanka faces humanitarian crisis * 2h hrs ago Sensex climbs 200 points, Nifty above 15,850 ahead of June F&O expiry * 2h hrs ago How TDS on crypto and virtual digital assets will work from tomorrow * 2h hrs ago New credit card rules: These rules will be effective from July 1, 2022 View More Videos CREDIT DEMAND TO REMAIN POSITIVE IN SPITE OF RATE HIKE, NO IMMEDIATE SLOWDOWN, SAYS UMESH REVANKAR Umesh Revankar, VC and MD, Shriram Transport Finance Co. Ltd. at the ETBFSI FinNext Summit 2022 spoke about how the rising inflation concerns might affect credit demand in the country. "It is too early to comment on the increase in rate and demand getting impacted but the economy is in uptake and when that happens demand for credit generally does not come down because of interest rate hike. The economy will be able to absorb the increase in lending rates, hence I don't see any slow down in demand immediately," he said. Apart from this he also briefly spoke about how the NBFC became the first one to use block chain for issuing deposit certificates in the industry and how it plans to continue leading when it comes to digitizing processes. Banking STRESSED ASSET SALES TO ARCS MAY BE HIT AS FOREIGN CAPITAL FLEES The rising interest rates globally are prompting the foreign investors to flock to safe havens, which has dwindled their participation in the stressed asset business in India. NBFC VEHICLE FINANCIERS SEE STEADY ROAD; MARGIN COMPRESSION IMMINENT: REPORT Motilal Oswal Financial Services sees a steady growth for vehicle financiers in FY23. Despite the COVID pandemic, the commercial vehicle segment saw an improvement and is expected to continue in the current fiscal. Financial Services PERSONAL LOANS OFFTAKE GREW SHARPLY IN INDIA DURING PANDEMIC The share of personal loans in total credit increased to 27.7 per cent in March 2022 compared with 26.3 per cent a year ago and 19.9 per cent five years ago, according to RBI. Fintech MORE OF A STRATEGIC PARTNERSHIP WITH GOOGLE BEYOND THIS FUNDING: PROGCAP CO-FOUNDER ON LATEST FUNDING ROUND Progcap, a corporate-led financing solutions company for SMBs, on Tuesday announced that it has raised US $40 mln as part of its Series C extension, led by Creation Investments and Tiger Global Management, with Google joining as new investor. ET BFSI spoke to Pallavi Shrivastava, Director & Co-founder, Progcap, to understand what this funding means for the company. Financial Services CAN MSMES FACE THE RATE HIKE STORM? A large portion of the credit availed under the government-backed ECLGS was utilised for servicing interest costs. Some ECLGS repayments started last September and the second phase will start by this year-end. when clarity would emerge over the MSME stress situation. View More BLOG * Harshvardhan Lunia - CEO & Founder, Lendingkart HOW GOVT IS ASSISTING FINTECH COMPANIES TO SOLVE THE EMERGING CHALLENGES IN THE FINTECH INDUSTRY * Robin Bhowmik - Chief Business Officer, Manipal Global Skills Academy BANKING ON TALENT: MOST IN-DEMAND SKILLS TO QUALIFY FOR OPPORTUNITIES IN THE FINTECH INDUSTRY * Yashwant Lodha - Co-founder, PayNearby BUILDING A NEW INDIA: TECHNOLOGY FULFILLING LAST-MILE ACCESS TO CREDIT * Sankarshan Basu - Professor, Finance and Accounting, Indian Institute of Management, Bangalore INDIAN BANKS BATTLE AGAINST FRAUDS * Bikash Narayan Mishra - Senior Advisor, IBA LET THE ELEPHANT DANCE ... * Girish Nayak - Chief – Service, Operations & Technology, ICICI Lombard GIC Ltd RISK AND CHALLENGES ASSOCIATED WITH CLOUD MIGRATION IN THE INSURANCE SECTOR View More FINTECH Fintech / 23 mins ago BITCOIN POISED FOR BIGGEST QUARTERLY DROP IN MORE THAN A DECADE The 56% drawdown in the biggest cryptocurrency is the largest since the third quarter of 2011, when Bitcoin was still in its infancy, data compiled by Bloomberg show. The decade in between those hallmarks saw several booms and busts, with cryptocurrencies’ market value swelling as they gained more widespread adoption and ultra-low interest rates spurred risk taking. * Fintech / 3 hrs ago HOW TDS ON CRYPTO AND VIRTUAL DIGITAL ASSETS WILL WORK FROM TOMORROW * Fintech / 6 hrs ago EU BACKS CRYPTO ANTI-MONEY LAUNDERING RULES * Fintech / 6 hrs ago CRYPTO HEDGE FUND THREE ARROWS CAPITAL HAS ENTERED LIQUIDATION, SOURCE SAYS * Fintech / 6 hrs ago ONECARD SEES SIGNIFICANT NUMBER OF CREDIT CARDS COMING FROM FINTECHS View More POLICY Policy / 25 mins ago RBI BATTLES AGAINST RUPEE’S SLUMP WITH MULTI-PRONGED STRATEGY The Reserve Bank’s challenges include crashes in forward dollar premiums to rising open interest in futures that adds to pressure on the currency. Strategists say that the pressure will continue amid shrinking interest rate differentials with the US, elevated oil prices fueling domestic inflation and a widening trade deficit. * Policy / 6 hrs ago SEBI CLEARS FPI TRADES IN COMMODITIES DERIVATIVES * Policy / 6 hrs ago GAPS IN CLIMATE-CHANGE DATA A CHALLENGE FOR POLICY-MAKING, SAYS RBI GOVERNOR DAS * Policy / 6 hrs ago PROPER INTERPRETATION OF DATA NECESSARY FOR MORE INFORMED DECISION MAKING: RBI GOVERNOR * Policy / 21 hrs ago RESERVE BANK OF INDIA MAY NEED TO TWEAK FOREX STRATEGY, LET RUPEE WEAKEN, SAY ANALYSTS View More NBFC * 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 * PALLONJI MISTRY, BILLIONAIRE CAUGHT IN TATA FEUD, DIES AT 93 * IF BOOKS ARE CLEAN, THEN HARMONISATION OF LENDER NORMS SHOULD NOT BE A WORRY: RAVI SUBRAMANIAN * LENDERS EXTEND TIMELINE FOR RELIANCE CAPITAL RESOLUTION BY 2 MONTHS TO NOVEMBER * NBFCS SHOULD DIVERSIFY RISKS ACROSS SECTORS: FORMER SBI CHAIRMAN * RBI EXPLORING OPTIONS TO ENSURE CUSTOMER SAFETY DEALING WITH PPIS ISSUED BY NON-BANK ENTITIES * ANNAPURNA FINANCE RAISES $15 MILLION IN EQUITY FROM FRENCH INVESTOR PROPARCO * IIFL FINANCE GETS BOARD'S APPROVAL TO RAISE RS 5,000 CR BY ISSUING BONDS * MSME LENDING AN OPPORTUNITY FOR NBFCS, SAY LEADERS * SHRIRAM GROUP PLANS TO ADD 2,500 EMPLOYEES FOR MERGED ENTITY IN 18-24 MONTHS * LIC HOUSING FINANCE HIKES LENDING RATE BY 60 BPS * PIRAMAL FOR A CHANGE IN COMPENSATION STRUCTURES IN FINANCE SECTOR * GODREJ CAPITAL AIMS TO LAUNCH UNSECURED LOANS FOR NBFC ARM LATER THIS YEAR: MANISH SHAH * SHRIRAM GROUP RECEIVES RBI NOD FOR MERGER OF FINANCIAL SERVICES BUSINESS * NBFC-MFIS GEAR UP TO RAISE EQUITY AS GROWTH PROSPECTS RETURN * BAJAJ FINANCE RAISES RATES ON FIXED DEPOSITS * PNB HOUSING FINANCE TO RAISE UP TO RS 2,000 CR VIA BONDS View More MORE FROM ETBFSI * Financial Services / 5h hrs ago GLOBAL CREDIT CONDITIONS MORE NEGATIVE AMID RISING BORROWING COSTS, SLOWER ECO GROWTH: MOODY'S New Delhi, Jun 30 (PTI) Moody's Investors Service on Thursday said global credit conditions have turned more negative amid rising borrowing costs, protracted Russia-Ukraine conflict and slower economic growth. * Fintech / 5h hrs ago BITCOIN POISED FOR BIGGEST QUARTERLY DROP IN MORE THAN A DECADE The 56% drawdown in the biggest cryptocurrency is the largest since the third quarter of 2011, when Bitcoin was still in its infancy, data compiled by Bloomberg show. The decade in between those hallmarks saw several booms and busts, with cryptocurrencies’ market value swelling as they gained more widespread adoption and ultra-low interest rates spurred risk taking. * Policy / 5h hrs ago RBI BATTLES AGAINST RUPEE’S SLUMP WITH MULTI-PRONGED STRATEGY The Reserve Bank’s challenges include crashes in forward dollar premiums to rising open interest in futures that adds to pressure on the currency. Strategists say that the pressure will continue amid shrinking interest rate differentials with the US, elevated oil prices fueling domestic inflation and a widening trade deficit. * NBFC / 5h hrs ago PNB HOUSING FIN TO SEEK SHAREHOLDERS' NOD NEXT MONTH TO RAISE RS 12,000 CR IN DEBT New Delhi, Jun 30 (PTI) PNB Housing Finance on Thursday said it will seek shareholders' approval next month to raise Rs 12,000 crore in debt capital. * Industry / 2h hrs ago GAS LINES AND SCUFFLES: SRI LANKA FACES HUMANITARIAN CRISIS What’s happening Sri Lanka- a nation of 22 million - is worse than the usual financial crises seen in the developing world: It's a complete economic breakdown that has left ordinary people struggling to buy food, fuel and other necessities and has brought political unrest and violence. * Financial Services / 2h hrs ago SENSEX CLIMBS 200 POINTS, NIFTY ABOVE 15,850 AHEAD OF JUNE F&O EXPIRY VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said the Fed chief Jerome Powell made a hawkish statement overnight suggesting the central bank was determined to control inflation and that a "soft landing is possible but extremely challenging". * Fintech / 2h hrs ago HOW TDS ON CRYPTO AND VIRTUAL DIGITAL ASSETS WILL WORK FROM TOMORROW The Central Board of Direct Taxes has issued a circular explaining the guidelines about how TDS will work on crypto, virtual digital assets (VDAs) and NFTs (as notified by the government). Read on to know what TDS certificate will be issued and how much tax will be deducted on the sale of VDAs. * Financial Services / 2h hrs ago NEW CREDIT CARD RULES: THESE RULES WILL BE EFFECTIVE FROM JULY 1, 2022 The RBI master guidelines states that card issuers are required to ensure that customers receive their invoices and statements promptly through email and that they have at least one fortnight to pay before interest is applied. 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 * EU BACKS CRYPTO ANTI-MONEY LAUNDERING RULES * SHIBA INU BURNS ABOUT 400 TRILLION TOKENS TO CAP SUPPLY; BLEEDS 13% * INSIGHT-CRYPTO CRASH THREATENS NORTH KOREA'S STOLEN FUNDS * CRYPTO WINTER: WHY THIS BITCOIN BEAR MARKET IS DIFFERENT FROM THE PAST * ELECTRICITY USED TO MINE BITCOIN DECREASED SHARPLY AS CRYPTO CRISIS WIDENS * CRYPTO HACKERS STEAL $100 MILLION WITH HORIZON BRIDGE ATTACK * INDIAN CRYPTO EXCHANGE PUT A BRAVE FACE AS CURRENCIES PLUMMET * CRYPTO'S LATEST MELTDOWN LEAVES PUNTERS BRUISED AND BEWILDERED * DEFI CAN'T HOLD A CANDLE TO THE CENTURIES-OLD TRUST-BASED SYSTEM CALLED HAWALA View More BFSI VIDEOS * CREDIT DEMAND TO REMAIN POSITIVE IN SPITE OF RATE HIKE, NO IMMEDIATE SLOWDOWN, SAYS UMESH REVANKAR Umesh Revankar, VC and MD, Shriram Transport Finance Co. Ltd. at the ETBFSI FinNext Summit 2022 spoke about how the rising inflation concerns might affect credit demand in the country. "It is too early to comment on the increase in rate and demand getting impacted but the economy is in uptake and when that happens demand for credit generally does not come down because of interest rate hike. The economy will be able to absorb the increase in lending rates, hence I don't see any slow down in demand immediately," he said. Apart from this he also briefly spoke about how the NBFC became the first one to use block chain for issuing deposit certificates in the industry and how it plans to continue leading when it comes to digitizing processes. * 1 day ago MUST FOCUS ON DEVELOPING PRUDENT INVESTORS: PADMAJA CHUNDURU FOR MILLENNIALS & GENZ * 12 days ago SESSION ON ALTERNATE DATA FOR NTC CUSTOMERS * 12 days ago SESSION ON ALTERNATIVE DATA IN FINANCE View More EDITOR'S PICK * 2 hrs ago STRESSED ASSET SALES TO ARCS MAY BE HIT AS FOREIGN CAPITAL FLEES * 6 hrs ago VEHICLE FINANCIERS SEE STEADY ROAD; MARGIN COMPRESSION IMMINENT: REPORT * 5 hrs ago ONECARD SEES SIGNIFICANT NUMBER OF CREDIT CARDS COMING FROM FINTECHS * 21 hrs ago NOW, RS 2,000 NOTES FACE CASH DEPOSIT MACHINE HURDLE * 23 hrs ago AXIS BANK ANNOUNCES PARTNERSHIP WITH EAZYDINER; LAUNCHES DINING DELIGHTS MOST READ * 6 days ago 'INDIA'S BIGGEST BANK FRAUD' - WHY CBI BOOKED DHFL'S WADHAWAN BROTHERS THIS TIME * 6 days ago LET THE ELEPHANT DANCE ... * 7 days ago DEUTSCHE BANK INSTALLS TRACKING APP ON BANKERS' PHONES TO MONITOR TEXTS * 2 days ago HDFC BANK-BACKED LENTRA ACQUIRES AI STARTUP THEDATATEAM * 7 days ago PINE LABS ACQUIRES SETU FOR $70-75 MILLION * 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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