| ETBFSI Newsletter | Wednesday, October 30, 2024 |
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Daily Newsletter
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Top Stories
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India's festive season presents promising growth for MSMEs through increased consumer spending. Experts highlight the importance of financial planning...
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The bank expected to strengthen its presence in key markets and improve operational metrics, positioning it as a compelling investment within the mid-...
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Project Mandala aligns with the G20's priorities for enhancing cross-border payments by offering the potential to reduce transaction costs and accele...
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The RBI has taken a series of measures in the last few weeks and charged FinTechs for non-compliance. Regulators supervisory actions include digital l...
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A new scam known as 'Digital Arrest Fraud' is causing significant financial losses. Fraudsters impersonate law enforcement officials and threaten vict...
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Banking
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State Bank of India is cautious about lending to non-banking financial companies due to regulatory concerns and interconnected lending issues. The ban...
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Defaults by highly leveraged small borrowers are increasing stress on India's top banks, with a significant impact on personal loans and micro-credit ...
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Axis Bank says artificial intelligence will alter work processes but won't result in overall job cuts. The bank is increasing its digital staff and fo...
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Canara Bank Q2 Results FY25: The interest earned by the lender in Q2 FY25 stood at Rs 29,740 crore, up 11% from Rs 26,838 crore reported in the corres...
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Indian lenders such as Kotak Mahindra Bank, IndusInd Bank, IDFC First Bank, and RBL Bank foresee ongoing asset quality issues in the microfinance sect...
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The Nifty Bank index advanced 2.1% on Tuesday, while the benchmark Nifty gained 0.5%. Ten of the 12 stocks on the Nifty Bank index gained at close on ...
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Insurance
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Ayushman Bharat Health Insurance (PMJAY): Prime Minister Narendra Modi has launched health insurance coverage for all senior citizens aged 70 and abov...
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During Q2 FY25, its gross written premium (GWP) rose by 17% YoY at Rs 4,371 crore against Rs 3,731 crore during the year ago quarter. For the half yea...
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According to Lockton, their strategic expansion into the Indian market aims to address the growing demand for advanced risk consulting and management ...
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Chola MS General Insurance reported a 60% rise in pre-tax profit to Rs 350 crore for H1 2024, driven by non-recurring income. Gross Written Premium re...
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NBFC
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This authorisation enables the company to operate as an "Offline Payment Aggregator," according to a regulatory filing with the Bombay Stock Exchange ...
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NBFC firm Northern Arc Capital, which listed on the bourses last month, reported a 24 per cent increase in consolidated net profit to Rs 96 crore for ...
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Management anticipates further traction in vehicle finance over the coming quarters, buoyed by a favourable rabi crop yield, increased government infr...
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In a statement on Tuesday, Vridhi Home Finance said that it is investing in building a strong distribution network, in risk management practices and i...
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Fintech
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Total expenses for the Bengaluru-based firm fell to Rs 3,280 crore in FY24 from Rs 3,635 crore a year earlier, with employee benefit expenses declinin...
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Cashfree Payments has secured the Prepaid Payment Instrument (PPI) license from the Reserve Bank of India (RBI), adding to its existing Payment Aggreg...
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The latest funding round was supported by existing investors London-based Development Partners International and private equity firm Lightrock. Google...
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Financial Services
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The Reserve Bank of India has transported another 102 tonnes of gold from the Bank of England to secure locations within the country, bringing the tot...
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