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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 * ETBFSI AWARDS 2022 * 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 x Insurance VERONICA SCOTTI OF SWISS-RE HIGHLIGHTS ROLE OF INSURANCE IN MANAGING PUBLIC FINANCES IN INDIA Veronica Scotti of Swiss-Re, recently spoke to ETBFSI about how the vast majority of risks today fall on the shoulders of public sector and that Insurance can be a tool for helping governments protect their budgets. She also talked about the company's future plans in India and potential partnerships with private insurers and other financial institutions. LATEST NEWS * 4h hrs ago Explained: Cryptocurrency Taxation Policy in Union Budget 2023 * 4h hrs ago Benchmark yield at 3-week high as RBI sells bonds, November inflation data key * 3h hrs ago Union Bank of India hikes home loan, other loan interest rates: Check latest rates * 3h hrs ago Budget 2023 and direct taxes: Expectations from Finance Minister Nirmala Sitharaman * 3h hrs ago Sensex tumbles over 400 pts; Nifty drops below 18,400; IT stocks lead fall * 18m mins ago Banks on alert as 2 key pulses exporting nations on FATF list * 29m mins ago Budget 2023 may take up GIFT City AIFs' tax snags * 34m mins ago Borrowers don't have to be told individually about change in rates: Consumer court View More Financial Services EMBEDDED FINANCE SPIKE TO SUPER APPS: SEVEN TRENDS THAT WILL PROPEL FINTECH FIRMS IN 2023 Digital e-wallets are set to grow, as well as innovation in stablecoins, and approaches to AI would separate out the fintech herd, according to insights gleaned from top players including Amazon Web Services, McKinsey, Deloitte, Google Cloud. Policy HOW CBDC IS DIFFERENT FROM UPI: RBI GOVERNOR’S VERSION EXPLAINED With the coming of CBDC, both wholesale and retail, the country is excited to bring it into day-to-day practice just like it did UPI. But the question that remains is how both are same or what difference they have. RBI Governor has given a clarity on ‘CBDC vs UPI’ discussion which somehow signals the apex bank has plans to make CBDC ‘common’ for ‘common man’: Industry INDIA NEEDS TO GO GLOBAL THROUGH PRODUCTS, NOT ARBITRAGE : UDAY KOTAK What is India doing to create world class brands? What products have India created that the world wants to buy? Are companies only focusing on arbitrage or are they still looking into innovation and product-led businesses? Uday Kotak touches upon these concerns that India needs to address and talks on several other things at the CII Global Economic Policy Summit. Blog HOW CAN FINTECH HELP MAKE THE MSME SECTOR GREEN? Having been introduced digital tools such as artificial intelligence, machine learning and data analytics in the lending business, these new-age shadow banks have quickly gained traction in the market. Thus, the fintechs, in collaboration with the public sector banks, private banks, NBFCs and micro-finance institutions, assume a larger role in facilitating the increased credit flow to the MSME sector. Blog MICROLENDING IS DRIVING MSMES' FINANCIAL INCLUSION IN INDIA In India, microlending plays a significant role in promoting financial inclusion. Over the past few decades, it has significantly aided in the eradication of poverty. In addition to offering microcredit, microlending institutions also offer other financial services like savings, insurance, and remittance, as well as non-financial services like private counseling, training, and assistance with starting a business, all in a convenient way. Blog THE ROLE OF FINANCIAL INSTITUTIONS IN ADDRESSING CLIMATE CHANGE At recently concluded COP27, India made it clear that our transition will have to be a ‘Just’ transition based on embarking the low carbon development pathway. As a developing nation our energy mix will tilt towards fossil fuel for some years with greater impetus to shift to renewables. View More TOP FEATURED STORIES Banking / 18 days ago BANKING APPS SHOULD UNDERSTAND USERS LIKE A SPOTIFY LIST DOES: RBI INNOVATION HUB CEO The apps should be available in multiple languages, have good UI/UX and the experience should be seamless across interfaces, be it net banking, ATM or apps, Bansal said. * Insurance INDIA'S INSURTECH MOMENT: THE GROWTH STORY OF LESS-TALKED SECTOR * Banking ‘WELL CAPITALISED, LOOK TO UNLOCK INVESTMENTS IN CURRENT FY’: SBI CHIEF ON Q2 RESULTS * Insurance ‘TO BOOST INSURANCE LIKE UPI DID TO BANKING’: LEADERS BET BIG ON BIMA SUGAM * Policy RBI TO REGULATE OFFLINE PAYMENT AGGREGATORS AT PAR WITH ONLINE PEERS; HERE'S WHAT EXPERTS SAY View More BLOG * Vaibhav Lodha - Co-founder, ftcash MICROLENDING IS DRIVING MSMES' FINANCIAL INCLUSION IN INDIA * Aditya Damani - Founder & CEO, Credit Fair HOW CAN FINTECH HELP MAKE THE MSME SECTOR GREEN? * THE ROLE OF FINANCIAL INSTITUTIONS IN ADDRESSING CLIMATE CHANGE * REIMAGINING INDIA’S LONG DURATION ENERGY STORAGE GAMEPLAN * Gayathri Parthasarathy - Partner and Leader – Financial Services, PwC India TOP THREE CHALLENGES IN INDIAN FINANCIAL SERVICES * Dhananjay Sinha - He comes with over 20 years of research experience in the areas of macro economies and financial markets research, including equities, fixed income, commodities and currencies. Sinha has successfully extended his macro research work towards application-oriented themes covering automotive, rural, and real estate sectors among others. CAN INDIA’S GROWTH CAR RUN ON THREE PUNCTURED TYRES? View More FINTECH Fintech / 1 hr ago EXPLAINED: CRYPTOCURRENCY TAXATION POLICY IN UNION BUDGET 2023 During the budget speech for 2022-23 held on 1st February 2022, the rules for accessing income tax and TDS for VDAs got rolled out. * Fintech / 6 hrs ago ASHNEER GROVER'S ADVICE TO STARTUP FOUNDERS: DON'T GO BY WESTERN CONCEPT OF ARM'S LENGTH, RELATED PARTY TRANSACTION * Fintech / 6 hrs ago DATA AVAILABLE ON CRYPTO IS MISLEADING, SAYS RBI DEPUTY GOVERNOR T RABI SHANKAR * Fintech / 1 day ago FTX SECRETLY FUNDED CRYPTO NEWS SITE THE BLOCK: REPORT * Fintech / 1 day ago BHARATPE FILES ARBITRATION TO CLAW BACK ASHNEER GROVER'S 1.4% SHARES View More POLICY Policy / 5 hrs ago HOW CBDC IS DIFFERENT FROM UPI: RBI GOVERNOR’S VERSION EXPLAINED With the coming of CBDC, both wholesale and retail, the country is excited to bring it into day-to-day practice just like it did UPI. But the question that remains is how both are same or what difference they have. RBI Governor has given a clarity on ‘CBDC vs UPI’ discussion which somehow signals the apex bank has plans to make CBDC ‘common’ for ‘common man’: * Policy / 6 hrs ago RBI ALLOWS LENDERS TO SELL LOANS BEFORE ‘DEFAULT’ TAG * Policy / 6 hrs ago RBI SHORTLISTS 7 GLOBAL CONSULTANCY FIRMS TO USE AI, ML TO IMPROVE REGULATORY SUPERVISION * Policy / 4 days ago DON'T SPOOK BANKS FURTHER FROM IBC * Policy / 4 days ago RBI PERMITS GOLD PRICE HEDGING AT IFSC View More NBFC * PTC INDIA, EX-DIRECTORS CLASH OVER GOVERNANCE * SREI COC OFFERS WINDOW FOR RESOLUTION APPLICANTS TO REVISE BIDS BY DECEMBER 15 * LENDERS OF RELIANCE CAPITAL FINALISE E-AUCTION PROCESS FOR BIDDERS * INDUSIND BANK ENTERS INTO RS 500-CRORE CO-LENDING PACT WITH SV CREDIT LINE * SREI COC EVALUATES BIDS, FINALISATION LIKELY IN 2-3 DAYS * TIE-UP OF EQUIPMENT MAKERS & SMALL FIRMS A MUST FOR EV PUSH IN HARYANA: GOVT OFFICIAL * WHAT’S THE FUTURE OF CASH FLOW-BASED CREDIT UNDERWRITING FOR MSMES? * NON-BANKING FINANCE BIZ TO SEE SHARP UPTICK THIS FISCAL: CARS24'S GAJENDRA JANGID * UK’S SMALL BUSINESS FINTECH TIDE ENTERS INDIA * MSME-POWERED STARTUP, LAL10, RECORDS RS 200 CR REVENUE RUN RATE * E-AUCTION FOR RCAP LATER THIS MONTH; BASE BID AT ₹5,231 CRORE * CBI'S CHALLENGE TO STATUTORY BAIL GRANTED TO DHFL'S WADHAWANS REQUIRES DETAILED CONSIDERATION: HC * FUNDING THE GAP IN CASH FLOW-BASED LENDING FOR MSMES: SCENARIOS AND TOOLS INVOLVED * DIFFERENCES EMERGE BETWEEN LENDERS, ADVISORS OVER RESOLUTION PLAN OPTIONS FOR RCL; LENDERS MEET ON TUESDAY * SHRIRAM FINANCE LIMITED BECOMES LARGEST RETAIL NBFC POST-MERGER * RULES FOR INDIAN FINANCIAL SECTOR NEED TO BE REVIEWED TO REALISE ECONOMY'S GROWTH POTENTIAL, SAYS UDAY KOTAK * CENTRUM HOUSING FINANCE TO PAY RS 112 CRORE TO BUY NATRUST'S BUSINESS * SENSING MAJOR OPPORTUNITY, NBFCS STEP-IN TO PROVIDE SHORT-TERM WORKING CAPITAL LOANS FOR HOSPITALS * INDEPENDENT VALUERS GIVE RS 13,000 CRORE LIQUIDATION VALUE FOR RELIANCE CAPITAL * SUNDARAM FINANCE AIMS TO REDUCE DEPENDENCE ON CV LOANS, LOOKS AT SMES View More MORE FROM ETBFSI * Fintech / 4h hrs ago EXPLAINED: CRYPTOCURRENCY TAXATION POLICY IN UNION BUDGET 2023 During the budget speech for 2022-23 held on 1st February 2022, the rules for accessing income tax and TDS for VDAs got rolled out. * Financial Services / 4h hrs ago BENCHMARK YIELD AT 3-WEEK HIGH AS RBI SELLS BONDS, NOVEMBER INFLATION DATA KEY The Fed is expected to hike its interest rate by 50 basis points, after raising the same by 375 bps since March. * Banking / 3h hrs ago UNION BANK OF INDIA HIKES HOME LOAN, OTHER LOAN INTEREST RATES: CHECK LATEST RATES Union Bank of India has raised its marginal costs of funds-based lending rates (MCLR) by 5 basis points across all tenures (bps). * Industry / 3h hrs ago BUDGET 2023 AND DIRECT TAXES: EXPECTATIONS FROM FINANCE MINISTER NIRMALA SITHARAMAN Tax collection is an indicator of economic activity in any country. * Financial Services / 3h hrs ago SENSEX TUMBLES OVER 400 PTS; NIFTY DROPS BELOW 18,400; IT STOCKS LEAD FALL The BSE Sensex was trading 438 points or 0.70% lower at 61,744. Nifty50 was trading at 18,378, down 118 points or 0.64% at around 9.18 am * Banking / 18m mins ago BANKS ON ALERT AS 2 KEY PULSES EXPORTING NATIONS ON FATF LIST India imports almost a quarter of its pulses from these two countries and there is concern that outward remittances could be impacted following restrictions on lenders in dealing with entities in countries on the FATF grey list. * Financial Services / 29m mins ago BUDGET 2023 MAY TAKE UP GIFT CITY AIFS' TAX SNAGS The Reserve Bank of India (RBI) allowed domestic investment in a GIFT City fund using the Liberalised Remittance Scheme (LRS), under which a resident Indian can invest up to $250,000 a year in stocks and properties abroad. But administrators of category 3 AIFs receiving such LRS money may have a tough time dealing with the taxman. * Banking / 34m mins ago BORROWERS DON'T HAVE TO BE TOLD INDIVIDUALLY ABOUT CHANGE IN RATES: CONSUMER COURT The national consumer court has ruled that banks are not required to inform each borrower individually about any automatic change in interest rates under the floating rate plan, as borrowers have already agreed to any such increase or decrease while executing loan agreements with lenders. View More BFSI VIDEOS * SFBS AND NBFCS DEEPENING THE FINANCIAL INCLUSION AGENDA: FINCARE SFB CEO A quick chat with Rajeev Yadav, MD & CEO, Fincare Small Finance Bank at the 3rd Edition of the two day ETBFSI Converge 2022. * 3 days ago BANKS' LEADERS DISCUSSION: THRIVING IN THE WORLD OF DIGITAL * 5 days ago KEY FOCUS ON CUSTOMER CENTRIC CUSTOMIZATION OF SERVICES: IPPB CHIEF VENKATRAMU * 6 days ago ALLIANCES BETWEEN BANKS AND FINTECH WILL BOLSTER EFFICIENCY: CITY UNION BANK CEO 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 * EXPLAINED: CRYPTOCURRENCY TAXATION POLICY IN UNION BUDGET 2023 * NEARLY 5,000 NEW CRYPTOCURRENCIES EMERGED IN 2022 DESPITE HARSH WINTER * RBI TO LAUNCH FIRST PILOT FOR RETAIL DIGITAL RUPEE ON DECEMBER 1; SBI, ICICI BANK AND SIX OTHER BANKS IDENTIFIED FOR PARTICIPATION * CRYPTO CRISIS SHRINKS ETF ASSETS IN MARKET THAT EMBRACED THEM * INDIAN CRYPTO STARTUPS ASSURE NO FTX-LIKE MESS * FTX'S SAM BANKMAN-FRIED BEGGED FOR A RESCUE EVEN AS HE REVEALED HUGE HOLES IN FIRM'S BOOKS * GOVT SEEKS DECISION ON CRYPTO RULE AT G20 * GREED, DESIRE AND NAIVENESS: NARRATION OF $1BN CRYPTO SCAM SO FAR * SAM BANKMAN-FRIED: FROM CRYPTO KING TO KING OF TECH BUBBLE’S LOSERS View More EDITOR'S PICK * 5 hrs ago HOW CBDC IS DIFFERENT FROM UPI: RBI GOVERNOR’S VERSION EXPLAINED * 5 hrs ago EMBEDDED FINANCE SPIKE TO SUPER APPS: SEVEN TRENDS THAT WILL PROPEL FINTECH FIRMS IN 2023 * 6 hrs ago VERONICA SCOTTI OF SWISS-RE HIGHLIGHTS ROLE OF INSURANCE IN MANAGING PUBLIC FINANCES IN INDIA * 1 day ago THE ROLE OF FINANCIAL INSTITUTIONS IN ADDRESSING CLIMATE CHANGE * 1 day ago HOW CAN FINTECH HELP MAKE THE MSME SECTOR GREEN? 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