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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 * NBFC CONNECT 2023 * BFSI CONCLAVE 2023 BFSI : Serving the Changing World * ETBFSI AWARDS 2023 * ACCELERATE END-TO-END CUSTOMERS' JOURNEYS WITH AN AGILE LENDING SOLUTION * GLOBAL INSURANCE BROKERS PVT. LTD * ETBFSI.COM CONVERGE Thriving in the world of digital * ETBFSI CXO CONCLAVE Connecting Financial Institutions Digitally * LAY THE GROUNDWORK TO ACCELERATE BANKING INNOVATION * ETBFSI FINNEXT SUMMIT The Future of NBFCs and FinTechs * SIDBI-ET MSMES/STARTUPS Roudtable Discussion * REIMAGINE NEXT * LEARNFEST * REIMAGINE NEXT - THE FUTURE OF LEARNING * ETBFSI.COM CONVERGE BFSI: The world of Hyper-personalization * ETBFSI EXCELLENCE AWARDS 2021 AWARDS FOR EXCELLENCE IN INNOVATION * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI * 3RD EDITION OF ETBFSI CXO CONCLAVE Unlocking the BFSI Potential * THE DIGITAL NEXT: SERIES 2.1 Live Virtual Summit * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021 * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021 * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY * Millennial Finance * FinTech Diary * ETBFSI Research * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * BFSI Tech Tales * Innovation Masters * POLICY * FINANCIAL SERVICES * FinNext Summit 2022 x Editor's View A FUTURE LED BY WOMEN ENTREPRENEURS Currently, 11 of 17 sectors in India have less than 20 per cent women employees. Banking has 26 per cent and financial services 19 per cent. While CIEL HR, a staffing firm, says there are three women for every 10 employees in India Inc, only one makes it to the leadership of 10. Perhaps, India Inc is not showing a rosy picture when it comes to women empowerment, but startups certainly do. LATEST NEWS * 5h hrs ago Refuse fuel to uninsured vehicles, suggest insurers * 5h hrs ago Life Insurers' business growth muted in February * 5h hrs ago Axis Bank hikes FD interest rates by up to 40 bps on select tenures: Check new fixed deposit rates * 5h hrs ago One bank folds, another wobbles and Wall Street asks if it’s a crisis * 5h hrs ago Banking, BFSI sector companies step up hiring amid job cuts in IT sector * 1h hrs ago Global companies want to replicate India’s digital model * 1h hrs ago TCS set to close one of the biggest deals of the year 2023 * 1h hrs ago India's digital payments market will more than triple to $10 trillion by 2026: Report View More Insurance LIFE INSURANCE FIRMS' PREMIUMS DROP 17% IN FEB, LED BY LIC CONTRACTION LIC reported a 32 per cent contraction in new business premiums while those of private players saw a 10 per cent jump. Banking MUDRA LOANS MAY HIT RECORD AT RS 4 LAKH CRORE SANCTIONS THIS YEAR Disbursements cross last year's figures; While the amount has increased, over the last fiscal, the number of loans may have declined, showing the increase in loan ticket sizes. Banking BANK LOANS TO INDUSTRY HIT RECORD LOW IN JAN AS WORKING CAPITAL REQUIREMENTS DOWN On the other hand, the share of personal loans in the overall bank credit has reached a record high of 32 per cent. Banking CENTRAL BANKS DEVELOP RETAIL CBDC PAYMENT MODEL The Icebreaker project, a collaboration between the BIS Innovation Hub Nordic Centre, Bank of Israel, Norges Bank, and Sveriges Riksbank, the project tested the technical feasibility of conducting cross-border and cross-currency transactions between different experimental retail CBDC systems Industry HOW IS THE BOND REPAYMENT SCHEDULE OF ADANI GROUP? The group has almost $2 billion repayments lined up in 2024 and $1 billion repayments in 2023. Policy CENTRE BRINGS CRYPTO, VIRTUAL DIGITAL ASSETS UNDER PMLA In a new regulatory move, the government notified to bring Crypto and other virtual digital assets under PMLA. The move is set to reduce frauds in the unregulated crypto space. View More TOP FEATURED STORIES Banking / 11 days ago EXPLAINED: INDIA’S GOLD LOAN MARKET, SHARE OF BANKS AND NBFCS NBFCs are facing stiff competition from banks. Despite India being the largest market for gold loans, why have banks just woken up now and are expanding aggressively? Are they sensing some big opportunity? Will this adversely affect the NBFCs that have established a niche in the market? Here's a detailed explainer of the gold loan industry and the presence of each stakeholder. * Fintech AXIS BANK'S SAMEER SHETTY SHARES KEY POINTS TO WATCH FOR IN CREDIT UNDERWRITING * Banking AMID GLOBAL LAYOFFS, HERE’S HOW BFSI SECTOR PERFORMED AS EMPLOYER * Financial Services UPI-PAYNOW LAUNCH: HOW IT WILL WORK, WHICH BANKS FACILITATE PAYMENT? * NBFC ‘ON COLLECTION SIDE, WORK NEEDS TO BE DONE ON MAKING IT EASY TO REPAY’: MD & CEO, GODREJ CAPITAL View More BLOG * Rohit Garg - Co-Founder & CEO, SmartCoin LENDING ECOSYSTEM UNDER RBI SCRUTINY | STANDARDS, NORMS, INDUSTRY & CONSUMER IMPACT AND THE WAY FORWARD * FROM HIGH-STAKES TO HIGH-GROWTH: HOW BOOTSTRAPPING CAN BE A GAME CHANGER FOR INDIAN STARTUPS * Mr. Rikhil Shah - CFO, SBI General Insurance CFO IMPERATIVES AMIDST THE CHANGING LANDSCAPE OF INDIA'S INSURANCE SECTOR * Syed Hasan Jafar - Associate Professor, HOD of Finance and Director of Bloomberg Lab at Woxsen University. INDIAN FINTECH ROADMAP: PROJECTION FOR THE NEXT DECADE * Nilesh Sathe - Former Member, IRDAI UNION BUDGET IS A TOTAL WHITEWASH FOR INSURANCE SECTOR * Ankur Nijhawan INSURANCE IN FOCUS: 2022 TRENDS AND 2023 OUTLOOK View More FINTECH Fintech / 4 hrs ago INDIA'S DIGITAL PAYMENTS MARKET WILL MORE THAN TRIPLE TO $10 TRILLION BY 2026: REPORT In a span of just six years, India, primarily a cash-based economy, now leads the world in real-time digital payments, accounting for almost 40 per cent of all such transactions. The mass adoption of UPI during the COVID-19 pandemic has extended far beyond the urban to even rural India, an effect that left the experts in amazement. * Fintech / 21 hrs ago KINARA CAPITAL ALLOCATES RS 400 CRORE IN FY24 FOR PROGRAM OF DISCOUNTED LOANS TO WOMEN ENTREPRENEURS * Fintech / 23 hrs ago SILVERGATE BET EVERYTHING ON CRYPTO, THEN WATCHED IT EVAPORATE * Fintech / 1 day ago MEITY TO CONDUCT MEET ON DIGITAL INDIA BILL TODAY * Fintech / 1 day ago THE POWER WOMEN IN FINTECH TO WATCH OUT FOR IN 2023 View More POLICY Policy / 1 day ago CENTRE BRINGS CRYPTO, VIRTUAL DIGITAL ASSETS UNDER PMLA In a new regulatory move, the government notified to bring Crypto and other virtual digital assets under PMLA. The move is set to reduce frauds in the unregulated crypto space. * Policy / 2 days ago US FED MULLS BIGGER RATE HIKES TO COOL US ECONOMY * Policy / 2 days ago UPI ACCOUNTS FOR 75% OF TOTAL DIGITAL PAYMENTS IN INDIA: RBI GUV * Policy / 6 days ago INDIA'S FOREX RESERVES FALL FOR FOURTH WEEK IN A ROW, AT 3-MONTH LOW * Policy / 6 days ago IMPLEMENTATION OF CERTAIN NORMS COULD PERPETUATE EXISTING MARKET DOMINANCE: CEA View More NBFC * MUTHOOT FINANCE EXTENDS NPS SCHEME TO DOMESTIC, NRI CUSTOMERS * RELIGARE FINVEST CONCLUDES ONE-TIME SETTLEMENT WITH LENDERS, RESOLVES ALL LEGACY ISSUES * TWO ENTITIES OFFLOAD SHRIRAM FINANCE'S SHARES WORTH RS 1,329 CR * LAND COST MAKING IT HARDER TO SUSTAIN REAL ESTATE PROJECTS: TATA REALTY MD & CEO * THESE 3 BANKS, NBFCS OFFER HIGHER FD INTEREST RATE FOR WOMEN INVESTORS * JIO FINANCIAL GEARS UP FOR LISTING, HIRES HITESH SETHIA AS CEO * SVASTI MICROFINANCE RAISES USD 5 MILLION FROM IIX'S WOMEN'S LIVELIHOOD BOND 5, THE WORLD'S FIRST ORANGE BOND ISSUANCE * NCLAT REJECTS SHAREHOLDERS' PLEA AGAINST MCDOWELL HOLDINGS' INSOLVENCY PROCEEDINGS * BAJAJ FINANCE REVISES FD RATES UP TO 35 BPS: NOW EARN RETURNS UP TO 8.20 PER CENT P.A. * BAJAJ FINANCE REVISES FD RATES UP TO 35 BPS: NOW EARN RETURNS UP TO 8.20 PERCENT P.A. * INDIABULLS HOUSING TO CUT RISK, GROW CO-LENDING IN NEW AVATAR * INDIABULLS HOUSING TO CUT RISK, GROW CO-LENDING IN NEW AVATAR * SUPREME COURT ASKS AUTHUM INVESTMENTS AND INFRASTRUCTURE TO IMPLEMENT RESOLUTION PLAN FOR RELIANCE HOME FINANCE * NCLT OKAYS MERGER OF TWO HDFC ARMS WITH HDFC CAPITAL ADVISORS * NCLAT PERMITS SECOND ROUND OF AUCTION FOR THE SALE OF RELIANCE CAPITAL * ‘CLUSTER-ORIENTED APPROACH WITH FLEXIBLE CREDIT POLICIES’: PROFECTUS CAPITAL CEO’S MANTRA FOR SME LENDING * AUTHUM PLEA SEEKS TO STALL NARCL’S BID FOR SREI COS * MORE PAIN FOR MICROFINANCE SECTOR, STICKY LOANS JUMP TO ALL TIME HIGH OF RS 42,300 CR * OVER 10,000 MSMES SHUT BUSINESS THIS FISCAL, LICENSE WITHDRAWAL REMAINS HIGH * ADITYA BIRLA CAPITAL MAKES A FORAY INTO DIGITAL PAYMENTS View More MORE FROM ETBFSI * Insurance / 5h hrs ago REFUSE FUEL TO UNINSURED VEHICLES, SUGGEST INSURERS The proposal was part of the presentation made during 'Bima Manthan', organised by insurance regulator, the Insurance Regulatory and Development Authority of India, or IRDAI, earlier this month. Insurers have proposed an app that will be integrated with M-Parivahan and show whether the vehicle is insured or not. * Insurance / 5h hrs ago LIFE INSURERS' BUSINESS GROWTH MUTED IN FEBRUARY While the overall retail APE for the industry rose 10.5% on a year-on-year basis, helped by private players expanding at 18%, LIC's retail APE declined by 3% over the same period. The low growth resulted from a likely pre-booking of high-ticket non-ULIP policies in February and March 2023 to avoid the impact of taxation change proposed in the FY24 union budget, according to an Emkay report. * Banking / 5h hrs ago AXIS BANK HIKES FD INTEREST RATES BY UP TO 40 BPS ON SELECT TENURES: CHECK NEW FIXED DEPOSIT RATES Axis Bank has raised the interest rates on certain tenors of fixed deposits for sums under Rs 2 crore by up to 40 basis points (bps). * Banking / 5h hrs ago ONE BANK FOLDS, ANOTHER WOBBLES AND WALL STREET ASKS IF IT’S A CRISIS “Silicon Valley Bank is just the tip of the iceberg,” said Christopher Whalen, chairman of Whalen Global Advisors, a financial consulting firm. “I’m not worried about the big guys but a lot of the small guys are going to take a terrible kicking,” he said. “Many of them will have to raise equity.” * Banking / 5h hrs ago BANKING, BFSI SECTOR COMPANIES STEP UP HIRING AMID JOB CUTS IN IT SECTOR Axis Bank, Kotak Mahindra Bank, Motilal Oswal Financial Services and IIFL Securities, among others, are looking at a higher talent intake both at the lateral as well as the fresher level in the next 6-12 months. * Industry / 1h hrs ago GLOBAL COMPANIES WANT TO REPLICATE INDIA’S DIGITAL MODEL Last year, Unilever had said India will be a beacon of digital innovation for the packaged consumer products firm globally. While India has been a sourcing and talent hub for many companies, the country’s adoption for ecommerce and innovation in manufacturing accelerated significantly during the pandemic. And global markets can replicate the process, especially as omni-channel gain importance to sell their products, executives said. * Industry / 1h hrs ago TCS SET TO CLOSE ONE OF THE BIGGEST DEALS OF THE YEAR 2023 TCS is poised to close additional deals worth $1 billion with British retailer Marks & Spencer in the next few weeks. These large deal wins are important at a time when global enterprises have turned cautious about technology spends. * Fintech / 1h hrs ago INDIA'S DIGITAL PAYMENTS MARKET WILL MORE THAN TRIPLE TO $10 TRILLION BY 2026: REPORT In a span of just six years, India, primarily a cash-based economy, now leads the world in real-time digital payments, accounting for almost 40 per cent of all such transactions. The mass adoption of UPI during the COVID-19 pandemic has extended far beyond the urban to even rural India, an effect that left the experts in amazement. View More SUBSCRIBE TO OUR NEWSLETTER Join the community of 2M+ industry professionals I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. BFSI VIDEOS * ANAND PEJAWAR OF SBI GENERAL INSURANCE ON 3 THINGS THAT DRIVE INNOVATION Catch a quick conversation with Anand Pejawar, Whole Time Director, SBI General Insurance at the 7th edition of the ETCIO BFSI Digital Conclave. * 9 days ago DEPUTY DIRECTOR GENERAL OF UIDAI TALKS ABOUT DATA, TRANSFORMATION IN BFSI SECTOR * 9 days ago TRILOGUE CHAT: DRIVING INTELLIGENT OBSERVABILITY AND AGILITY FOR A PROACTIVE CUSTOMER EXPERIENCE * 10 days ago PANEL DISCUSSION: BUILDING TECH FOR FUTURE View More CRYPTOCURRENCY * CENTRE BRINGS CRYPTO, VIRTUAL DIGITAL ASSETS UNDER PMLA * INDIA IMPOSES MONEY LAUNDERING PROVISIONS ON CRYPTO SECTOR * BINANCE EXECS' TEXTS, DOCUMENTS SHOW PLAN TO AVOID US SCRUTINY * BITCOIN SINKS TO TWO-WEEK LOW AS SILVERGATE FALLOUT HURTS CRYPTO * INDIA ASKS IMF, FSB TO PREPARE TECHNICAL PAPER ON CRYPTO ASSETS * EU CALLS FOR FAST TRACK CRYPTO CAPITAL RULES FOR BANKS * EU CALLS FOR FAST-TRACK CRYPTO CAPITAL RULES FOR BANKS * GLOBAL FINTECH INVESTMENTS MORE THAN HALVE IN H2 OF 2022 SEQUENTIALLY AS FUNDING WINTER WORSENS * FED'S WALLER SAYS CRYPTOCURRENCY BUYERS COULD LOSE THEIR ENTIRE INVESTMENTS View More EDITOR'S PICK * 3 hrs ago A FUTURE LED BY WOMEN ENTREPRENEURS * 6 hrs ago LIFE INSURANCE FIRMS' PREMIUMS DROP 17% IN FEB, LED BY LIC CONTRACTION * 6 hrs ago MUDRA LOANS MAY HIT RECORD AT RS 4 LAKH CRORE SANCTIONS THIS YEAR * 19 hrs ago BANK LOANS TO INDUSTRY HIT RECORD LOW IN JAN AS WORKING CAPITAL REQUIREMENTS DOWN * 19 hrs ago MUTHOOT FINANCE EXTENDS NPS SCHEME TO DOMESTIC, NRI CUSTOMERS MOST READ * 2 days ago JIO FINANCIAL GEARS UP FOR LISTING, HIRES HITESH SETHIA AS CEO * 4 days ago HOW CROSS BORDER PAYMENTS CAN BE A $16 BN OPPORTUNITY? * 1 day ago HOW IS THE BOND REPAYMENT SCHEDULE OF ADANI GROUP? * 7 days ago LIC'S PARTICIPATORY POLICYHOLDERS MAY BE IMPACTED IF ADANI DIVE HITS INVESTMENT PORTFOLIO * 6 days ago BANKS REPORT ROBUST Q3 NUMBERS WITH RISE IN PROFIT, IMPROVED ASSET QUALITY: CARE RATINGS * 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. 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