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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.

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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

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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


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 * 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

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