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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 * 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 Insurance INSURANCE STRIKING RIGHT BALANCE BETWEEN PROTECTION AND WEALTH CREATION: POLICYBAZAAR CEO An online survey conducted by Policybazaar showed that people are now taking insurance-cum-investment products to be more than a tax-saving tool, and are inclined to opt for a larger cover to ensure protection of their dependents through term insurance. Here are key highlights. LATEST NEWS * 4h hrs ago Crypto assets shed $800 bn in market value in a month * 4h hrs ago How LIC policyholder can check IPO allotment status * 4h hrs ago Halted UPI payments because of “informal pressure” from the RBI: Coinbase CEO Brian Armstrong * 4h hrs ago SoftBank faces record loss as Masayoshi Son's bets tumble again * 4h hrs ago Sensex, Nifty under pressure for fourth consecutive day * 9m mins ago China-backed projects testament to Sri Lanka's mismanagement * 3m mins ago ICICI Bank, HDFC Bank, PNB, others: Banks that have hiked MCLR, repo linked home loan interest rates * 28s secs ago Why the rupee is likely to depreciate even more in coming days View More Policy MONEYLENDERS ACT NOT BINDING ON RBI-REGISTERED NBFCS: SUPREME COURT In a significant ruling, the apex court said that Non-Banking Financial Companies (NBFCs), regulated by the Reserve Bank of India (RBI), cannot be regulated by state enactments. The court also disagreed with the contention raised by Kerala that RBI doesn't control the interest rate charged by NBFCs on the loans advanced by them and that, therefore, a State enactment which seeks to control this aspect, namely, the rate of interest cannot be said to be repugnant. Insurance AS EVS CATCH FIRE, INSURANCE FIRMS FACE PRICING RISK While the current fires may not be covered under insurance policies, auto-insurance providers want to develop bespoke insurance options that primarily cater to these variants. Blog HOW TECHNOLOGY HELPS TO BOOST THE UNDERPENETRATED LIFE INSURANCE MARKET IN INDIA? Insurers have embraced disruptive changes across customer experience, distribution experience, and product and value-added innovations. Convenience and remote access are important benefits for millennials and younger customers. Insurance companies are using technology to personalise both the product offering and customer servicing. Insurers are offering products based on demographics, individual behaviour and preferences, customer needs at various life stages, and real-time interaction. Insurance LIFE INSURERS SET FOR A STRONG FIRST QUARTER, APRIL NUMBERS SUGGEST Private sector players reported 42% YoY annual premium equivalent (APE) growth in April 2022 despite high base. The low base of May and June 2021 will likely lead to a strong first quarter NBFC NBFCS GEAR UP FOR STRONG RURAL DEMAND AMID URBAN SLOWDOWN They see markets, especially vehicle finance, opening up and strong rural demand for used and small commercial vehicle finance loans. Financial Services HOW INFRASTRUCTURE LOANS ARE REVIVING CORPORATE CREDIT DEMAND Infrastructure loans, which formed 50 per cent of the incremental credit expansion in the large industrial segment in FY22, are set to remain strong this year too due to a slew of lined up and upcoming projects. View More TOP FEATURED STORIES Fintech / 5 days ago HOW NEW RBI CREDIT CARD NORMS WILL HIT FINTECH FIRMS The new norms may hit Fintech prepaid card operations where they may now be required to take the approval of the central bank for new products and lose out on customer data, without which they cannot cross-sell or provide customised offerings. * 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 * Fintech BANK-FINTECH PARTNERSHIPS “NEED OF THE HOUR”, SAY LEADERS View More BLOG * Byju Joseph - Chief Technology Officer, Future Generali India Life Insurance Company Ltd. HOW TECHNOLOGY HELPS TO BOOST THE UNDERPENETRATED LIFE INSURANCE MARKET IN INDIA? * Nitya Sharma - CEO & Co-Founder, Simpl EXPECTED TRENDS IN THE FINTECH INDUSTRY * Ritesh Raj Saxena - Head – Direct Banking, IndusInd Bank DIGITAL PAYMENTS: THE RIGHT CHANNEL TO OPT FOR! * Mayur Modi - Founder and CEO at Moneyboxx SOME COMMON BARRIERS SMALL BUSINESSES FACE IN SECURING LOANS * Krishnan Sitaraman - Senior Director, CRISIL Ratings SECURITISATION MAKES A COMEBACK * Gaurav Mathur - Founder and MD, SafeGold DIGITAL GOLD: NEW MINE FOR SMART INVESTORS View More FINTECH Fintech / 1 hr ago CRYPTO ASSETS SHED $800 BN IN MARKET VALUE IN A MONTH Bitcoin, which makes up for nearly 40% of the crypto market, hit a 10-month low earlier on Tuesday, before rebounding to $31,450, just six days after touching $40,000. It was more than 54% below its Nov. 10 all-time high of $69,000. * Fintech / 1 hr ago HALTED UPI PAYMENTS BECAUSE OF “INFORMAL PRESSURE” FROM THE RBI: COINBASE CEO BRIAN ARMSTRONG * Fintech / 5 hrs ago COINDCX LAUNCHES COINDCX VENTURES TO DEPLOY RS 100 CR IN WEB3 ECOSYSTEM * Fintech / 5 hrs ago BHARATPE VOWS TO CLAW BACK SHARES OF ‘FORMER FOUNDER’, SACKS EMPLOYEES * Fintech / 17 hrs ago CRYPTO INDUSTRY WANTS GOVT TO LOWER TDS ON TRANSACTIONS View More POLICY Policy / 5 mins ago MONEYLENDERS ACT NOT BINDING ON RBI-REGISTERED NBFCS: SUPREME COURT In a significant ruling, the apex court said that Non-Banking Financial Companies (NBFCs), regulated by the Reserve Bank of India (RBI), cannot be regulated by state enactments. The court also disagreed with the contention raised by Kerala that RBI doesn't control the interest rate charged by NBFCs on the loans advanced by them and that, therefore, a State enactment which seeks to control this aspect, namely, the rate of interest cannot be said to be repugnant. * Policy / 20 hrs ago RBI SEEN PRUDENT IN SPENDING FOREX RESERVES TO DEFEND RUPEE * Policy / 20 hrs ago THE CENTRAL BANK OF ARGENTINA PROHIBITS PRIVATE BANKS FROM OFFERING CRYPTOCURRENCY SERVICES TO CUSTOMERS * Policy / 22 hrs ago NATIONAL BANK OF GEORGIA FINE TUNES A DRAFT LAW TO ESTABLISH A LEGAL FRAMEWORK FOR CRYPTOCURRENCIES * Policy / 1 day ago RBI NOT EXPECTED TO USE RESERVES TO SHORE UP RUPEE View More NBFC * CAN FIN HOMES ROCKED BY ALLEGATION OF FRAUD IN 39 ACCOUNTS * NBFCS GEAR UP FOR STRONG RURAL DEMAND AMID URBAN SLOWDOWN * IMPACT NBFCS: WHY WE NEED THEM * ANALYSTS GO CAUTIOUS ON NBFCS AFTER IRREGULARITIES COME UP * TIGHTEN YOUR BELT, HUNKER DOWN AND RIDE THE INFLATION OUT, SAYS YS CHAKRAVARTI * THERE COULD BE MORE WEAKNESS AHEAD FOR NBFC STOCKS: KUNAL BOTHRA * SHRIRAM CITY UNION FINANCE JUMPS 5% AFTER ANNOUNCING RS 750-CR BOND ISSUE PLAN * DELHI HIGH COURT ORDERS INDIABULLS HOUSING FINANCE TO RECONCILE PROJECT LOAN ACCOUNTS OF SUPERTECH * NBFCS CAN'T HAVE BANK-LIKE REGULATIONS: RAMAN AGGARWAL * BOMBAY HC QUASHES YEAR-OLD FIR AGAINST INDIABULLS HOUSING FINANCE * YESH NADKARNI TO BE CEO OF WHOLESALE LENDING IN PIRAMAL CAPITAL & HOUSING FINANCE * IIFL FINANCE, OPEN FINANCIAL JOIN HANDS TO LAUNCH NEOBANK FOR MSMES * PIRAMAL CAPITAL & HOUSING FINANCE AIMS TO BECOME A RETAIL GIANT, INTEGRATE DHFL IN FY23 * HOME FIRST FINANCE LOOKS TO RAISE RS 500 CR VIA NCDS * AFFORDABLE HOUSING FINANCE COMPANIES LOAN BOOK TO GROW 17-20% IN FY23, SAYS STUDY * IIFL FINANCE CHARTS UP NEO-BANKING FORAY, MAKES OPEN UNICORN WITH NEW INVESTMENT * MAHINDRA FINANCE Q4 NET UP OVER TWO-FOLD AT RS 629 CR * L&T FINANCE AIMS TO BECOME RETAIL NBFC, 'FINTECH @ SCALE' IN 4 YEARS * HDFC RAISES LENDING RATE BY 5 BASIS POINTS; EMI TO RISE FOR EXISTING BORROWER * SHRIRAM CITY UNION FIN HOPES TO GROW AUM BY 18%-20% IN FY23 View More MORE FROM ETBFSI * Fintech / 4h hrs ago CRYPTO ASSETS SHED $800 BN IN MARKET VALUE IN A MONTH Bitcoin, which makes up for nearly 40% of the crypto market, hit a 10-month low earlier on Tuesday, before rebounding to $31,450, just six days after touching $40,000. It was more than 54% below its Nov. 10 all-time high of $69,000. * Insurance / 4h hrs ago HOW LIC POLICYHOLDER CAN CHECK IPO ALLOTMENT STATUS The Life Insurance Corporation of India (LIC) has completed its much-anticipated first public offering (IPO). The LIC IPO was open for subscription from May 4 to May 9. Here is how a policyholders cab check LIC IPO status * Fintech / 4h hrs ago HALTED UPI PAYMENTS BECAUSE OF “INFORMAL PRESSURE” FROM THE RBI: COINBASE CEO BRIAN ARMSTRONG Brian Armstrong says he is hoping Coinbase will be back soon in India, and will push conversation across international markets. * Banking / 4h hrs ago SOFTBANK FACES RECORD LOSS AS MASAYOSHI SON'S BETS TUMBLE AGAIN The world’s largest tech fund is estimated to have lost about $18.6 billion on its public portfolio alone during the quarter ended Mar. 31, even greater than the record $18.3 billion drop marked in the fiscal second quarter, according to Kirk Boodry, an analyst at Redex Research who publishes on SmartKarma. * Financial Services / 4h hrs ago SENSEX, NIFTY UNDER PRESSURE FOR FOURTH CONSECUTIVE DAY Among Sensex stocks, Tech Mahindra rose 1.7 per cent to Rs 1,263.70. Tata Steel advanced 1.43 per cent to Rs 1,182.05. HDFC, Bajaj Finserv, Power Grid, Bharti Airtel and UltraTech Cement rose up to 1.2 per cent. ICICI Bank and HDFC Bank added up to 0.6 per cent. * Industry / 9m mins ago CHINA-BACKED PROJECTS TESTAMENT TO SRI LANKA'S MISMANAGEMENT An airport without planes, a revolving restaurant with no diners, a debt-laden seaport -- Sri Lanka's economic crisis has been exacerbated by Chinese-funded projects that stand as neglected monuments to government extravagance. * Banking / 3m mins ago ICICI BANK, HDFC BANK, PNB, OTHERS: BANKS THAT HAVE HIKED MCLR, REPO LINKED HOME LOAN INTEREST RATES The Reserve Bank of India (RBI) surprised everyone by raising the repo rate by 40 basis points to 4.40 percent with immediate effect. Let us take a look at the banks that hiked their repo rate linked loan interest rates after RBI’s rate hike. * Financial Services / 28s secs ago WHY THE RUPEE IS LIKELY TO DEPRECIATE EVEN MORE IN COMING DAYS “When the rupee depreciates, given the fact that we still import large volume of oil, that will impact oil price and directly as well as indirectly – through transport – we are going to see the impact of that on inflation. It is never good news because inflation will start hitting not just our export competitiveness but also our growth potential. So sharply depreciating rupee is not good news at all,” says Mythili Bhusnurmath. 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 * CRYPTO ASSETS SHED $800 BN IN MARKET VALUE IN A MONTH * THE CENTRAL BANK OF ARGENTINA PROHIBITS PRIVATE BANKS FROM OFFERING CRYPTOCURRENCY SERVICES TO CUSTOMERS * NATIONAL BANK OF GEORGIA FINE TUNES A DRAFT LAW TO ESTABLISH A LEGAL FRAMEWORK FOR CRYPTOCURRENCIES * WIKIPEDIA TO STOP ACCEPTING CRYPTO DONATIONS ON ENVIRONMENTAL GROUNDS * CALIFORNIA MOVES TO EMBRACE CRYPTOCURRENCY AND REGULATE IT * REWARD POINTS, E-VOUCHERS OUT OF CRYPTO TAX AMBIT * VENTURE CAPITALISTS CATCH CRYPTO FEVER * BITCOIN IS THE MOST POPULAR CRYPTO IN EUROPE, WHILE MEME TOKEN SHIBA INU IS THE MOST POPULAR IN THE UK: GOOGLE TRENDS DATA * STANDARD CHARTERED BANK BECOMES THE LATEST MAJOR BANK TO ENTER METAVERSE 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. 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