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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 Financial Services WILL CHATBOTS TURN OUT TO BE A GAMECHANGER FOR BANKS? Incorporating chatbots can lead to huge cost savings, making them a popular application across banks. Customers can easily solve their queries on chatbots, like balance inquiries, accessing mini statements, fund transfers, reducing the burden on contact centres, internet banking LATEST NEWS * 5h hrs ago Outward remittances by Indians set to hit all-time high this fiscal on international travel * 2h hrs ago RBI survey for price movements, inflation assessment launched * 2h hrs ago Budget 2023: Growth & manufacturing focus within fiscal consolidation theme * 2h hrs ago DPIIT working on new industrial policy; proposes scheme for Made in India brand * 1h hrs ago ONDC set for a bumper 2023 with 85 cities, 800 merchants and 26 participants already on board: MD&CEO T. Koshy * 1h hrs ago SBI asks field functionaries to desist from mis-selling of insurance products * 1h hrs ago Insurer can't refuse payout when policy papers not handed over * 1h hrs ago Indian Bank unveils QR bill-based payment system for CESC-Mysuru View More Financial Services BUDGET 2023 HOW TOP PSU BANKS ARE POISED TO CASH IN ON EXPECTED CAPEX PUSH State Bank of India, Bank of Baroda and Punjab National Bank have about 15 per cent exposure to infrastructure in their loan books and with healthy balance-sheets and return ratios are in better stead to finance the capex push. Banking NINE NBFCS HAVE INADEQUATE CAPITAL UNDER RBI'S BASELINE STRESS SCENARIO These NBFCs comprise 4.7 per cent of total advances of the 152 sample companies stress-tested by the Reserve Bank of India, says Financial Stability Report. Financial Services UPTICK IN COLLECTIONS WITH AI CHATBOTS, HYPER PERSONALISATION WAY FORWARD FOR LENDERS How is Conversational AI transforming the lending business? What has pushed BFSI companies for shifting to conversational engagement for customer acquisition? Is AI Chatbots the way to a better customer experience? Is there an uptick in collections with increasing conversational engagement? ETBFSI speaks to industry stalwarts to dig deep into the subject. Here's what they said : Blog KEY INSURTECH TRENDS IN 2022 Covid pushed the world towards a cultural shift to digital. Indian InsurTech sector was well positioned to handle the sudden boom of digital integration into the business. The last two years have been very fruitful for the InsurTech industry- newer innovations, industry tie-ups, mergers and acquisitions, InsurTech unicorns have taken the industry by storm. Some key trends in 2022 have been. Blog TOP DIGITAL PAYMENT TRENDS TO WATCH OUT FOR IN 2023 Unified Payments Interface (UPI) launched in April 2016 is a good example to establish the rising digital payments adoption in the country. In November 2022, UPI transaction volume has clocked 730.9 crore with the transaction value amounting to 11.9 lakh crore rupees. Banking GOLD LOAN NBFCS WREST SOME MARKET SHARE BACK IN 2022 AS SOPS TO BANKS END Banks' share of the gold loan market increased to almost 40 percent in FY21 from 31 percent in the previous year due to a relaxation in loan-to-value dispensations. View More TOP FEATURED STORIES NBFC / 7 days ago ‘PHYSICAL TO PHYGITAL TO DIGITAL’: MAHINDRA FINANCE COO’S MANTRA TO INCREASE RURAL DIGITAL PENETRATION COO Rebello believes there is no shortcut in digital transition in the rural and semi-urban areas. He believes Mahindra Finance is in a good position in tractor business and eyes for growth in the used tractor segment. Here’s the highlights of an exclusive interaction of ETBFSI with Raul Rebello: * Banking PSBS CREDIT GROWTH LIKELY TO BE IN DOUBLE-DIGIT THIS YEAR: BANK OF MAHARASHTRA MD * Fintech UPI FUND BLOCK TO EASE BROKER WORKLOAD BUT RAISES QUESTION OVER PAYMENT FAILURE: NITIN KAMATH OF ZERODHA * Banking BANKING APPS SHOULD UNDERSTAND USERS LIKE A SPOTIFY LIST DOES: RBI INNOVATION HUB CEO * Insurance INDIA'S INSURTECH MOMENT: THE GROWTH STORY OF LESS-TALKED SECTOR View More BLOG * BN Mishra - Senior Advisor, IBA NEXTGEN REFORMS IN BANKING AND THE UPCOMING ANNUAL BUDGET * Mayuresh Kini - COO & CFO, PayU Finance EMPOWERING THE YOUTH – TIPS FOR FINANCIAL STABILITY AND HEALTH * Amit Saharia - President, Group Strategy, Hinduja Group THE BLUEPRINT OF SHIELDING: STRATEGIES TO PROTECT THE COMPANY DURING AN ECONOMICSLOWDOWN * Anil Varma - MD & Whole Time Director, Howden India DELVING INTO THE GROWING DEMAND FOR GLOBAL HEALTH INSURANCE COVERS BY MNCS * Indraneel Chatterjee - Co-founder, RenewBuy. KEY INSURTECH TRENDS IN 2022 * Mayur Mulani - Business Head-Pay Later, Pine Labs TOP DIGITAL PAYMENT TRENDS TO WATCH OUT FOR IN 2023 View More FINTECH Fintech / 2 days ago FOCUS ON STRENGTHENING FIN SYSTEM BUFFERS: RBI GOVERNOR SHAKTIKANTA DAS In his foreword to the Financial Stability Report, RBI Governor Shaktikanta Das says that the priority area for the Central Bank is to further strengthen buffers of the financial system and harness fintech innovation. He also sees management of climate change and dealing with unanticipated fresh shocks as core issues in the financial stability report. The Governor's statement on building buffers comes at a time when the Central Bank has been rebuilding its foreign exchange reserves which it had expended to defend the rupee. The RBI also indicates that it wants banks to start providing for expected losses. * Fintech / 2 days ago RS 2 LAKH CRORE WEALTH WIPED OFF! HOW FINTECH COS TURNED RICHES TO RAGS IN 2022 * Fintech / 4 days ago 2022 YEAR IN REVIEW: FUND-STARVED STARTUPS SACKED NEARLY 18,000 EMPLOYEES THIS YEAR * Fintech / 4 days ago INDIA’S $50 BILLION FINTECH INDUSTRY FACES A TOUGH 2023, BAIN SAYS * Fintech / 4 days ago MICRO SMES IS HUGE MARKET; AYE FINANCE AIMS TO GROW BY 50% IN THE NEXT 2 YEARS. View More POLICY Policy / 20 hrs ago RBI SURVEY FOR PRICE MOVEMENTS, INFLATION ASSESSMENT LAUNCHED In the January 2023 round, the survey will be conducted across 19 cities. It aims to capture subjective assessments of price movements and inflation, based on individual consumption baskets. * Policy / 1 day ago RBI TO EXTENSIVELY USE AI, MI DRIVEN TOOLS FOR DATA ANALYSIS * Policy / 3 days ago FOCUS ON STRENGTHENING FIN SYSTEM BUFFERS: RBI GOVERNOR SHAKTIKANTA DAS * Policy / 3 days ago RBI REITERATES PLAN FOR CHARGES ON PAYMENT SERVICES EVEN AS GOVT WANT UPI TO BE FREE * Policy / 3 days ago RBI SEES BANK GNPAS RISING TO 7.8% BY SEPTEMBER 2023 IN A SEVERE STRESS SCENARIO View More NBFC * HOMEBUYERS MUST GET TAX BENEFITS IN BUDGET TO MAKE INDIA'S REAL ESTATE TAKE ON THE WORLD, SAY STAKEHOLDERS * RELIGARE FINVEST SIGNS SETTLEMENT AGREEMENT WITH ALL ITS LENDERS FOR OTS * ADB GRANTS USD 100 MN TO SHRIRAM FINANCE FOR VEHICLE LOANS TO WOMEN ENTREPRENEURS * SREI LENDERS TO HOLD CHALLENGE AUCTION TUESDAY TO SELECT WINNER * YEAR ENDER 2022: POST-COVID RECOVERY HELPED NBFCS’ BUSINESS, SAY LEADERS * A $3.88 BILLION OPPORTUNITY: HOW TRADE TECH & TRADE FINANCE CAN GUIDE MSMES THROUGH TROUBLED MACROS * YEAR ENDER 2022: DEVELOPMENTS THAT NBFC SECTOR WITNESSED THIS YEAR; WILL THEY IMPACT 2023? * TATA MOTORS FINANCE'S BRIGHT MINDS CONFERRED WITH 'COMPLETE BANKER' CERTIFICATION FROM IIM AHMEDABAD * POONAWALLA FINCORP WELL CAPITALISED TO TOUCH RS 50,000 CR AUM IN 5 YEARS * BANKS CEDE LEAD IN MICRO LOANS TO NBFC-MFIS AS ASSET QUALITY DETERIORATES AFTER PANDEMIC * AMID ARTIFICIAL INTELLIGENCE, DON’T FORGET ACTUAL INTELLIGENCE: NBFC LEADERS * LENDERS SET TO RECOVER SETTLEMENT AMOUNT FOR RELIANCE HOME FINANCES * SMBS EMERGE AS TOP JOB CREATORS IN INDIA: REPORT * ‘PHYSICAL TO PHYGITAL TO DIGITAL’: MAHINDRA FINANCE COO’S MANTRA TO INCREASE RURAL DIGITAL PENETRATION * HOME FIRST RAISES RS 280 CRORE IN MAIDEN GREEN DEBT FROM IFC * HINDUJA GROUP UPS ITS BID TO RS 9,500 CRORE TO ACQUIRE DEBT-RIDDEN RELIANCE CAPITAL * SHRIRAM FINANCE TO GROW ITS RETAIL FIXED DEPOSITS BY 25% * RELIANCE CAPITAL AUCTION: TORRENT GROUP HIGHEST BIDDER AT RS 8,600 CR * IL&FS TRANSFERS TWO MORE ASSETS WORTH RS 976 CRORE TO ROADSTAR INVIT * COSMEA PULLS OUT OF RACE TO ACQUIRE RELIANCE CAPITAL View More MORE FROM ETBFSI * Industry / 5h hrs ago OUTWARD REMITTANCES BY INDIANS SET TO HIT ALL-TIME HIGH THIS FISCAL ON INTERNATIONAL TRAVEL Remittances rose 23 per cent in October to $1.92 billion and are set to cross $20 billion this fiscal as more Indians travel overseas. * Financial Services / 2h hrs ago RBI SURVEY FOR PRICE MOVEMENTS, INFLATION ASSESSMENT LAUNCHED In the January 2023 round, the survey will be conducted across 19 cities. It aims to capture subjective assessments of price movements and inflation, based on individual consumption baskets. * Industry / 2h hrs ago BUDGET 2023: GROWTH & MANUFACTURING FOCUS WITHIN FISCAL CONSOLIDATION THEME Echoing finance minister Nirmala Sitharaman’s statement that fiscal 2024 budget will follow the spirit of the earlier ones, economists expect it to be a pragmatic, rather than a populist, budget, even though this is the last full budget before the 2024 general elections. * Industry / 2h hrs ago DPIIT WORKING ON NEW INDUSTRIAL POLICY; PROPOSES SCHEME FOR MADE IN INDIA BRAND To achieve the goals, it has identified six objectives such as the focus on competitiveness and capability; economic integration and moving up the global value chain; promoting India as an attractive investment destination; nurturing innovation and entrepreneurship; and achieving global scale, and standards. * Financial Services / 1h hrs ago ONDC SET FOR A BUMPER 2023 WITH 85 CITIES, 800 MERCHANTS AND 26 PARTICIPANTS ALREADY ON BOARD: MD&CEO T. KOSHY ONDC is rapidly expanding its footsteps and is on its way of transforming digital commerce in India, and evolving to be a benchmark to the whole world. * Insurance / 1h hrs ago SBI ASKS FIELD FUNCTIONARIES TO DESIST FROM MIS-SELLING OF INSURANCE PRODUCTS The bank asked the field functionaries to ensure that the branches conduct need-based selling of insurance products with strict compliance to the Assessment of Suitability and Appropriateness Framework (ASAF) and sourcing of business is undertaken for 100 per cent KYC compliant accounts. * Insurance / 1h hrs ago INSURER CAN'T REFUSE PAYOUT WHEN POLICY PAPERS NOT HANDED OVER Late Dharambir Saini had taken a home loan of Rs 75 lakh from ICICI Bank. In order to secure the loan, the bank had compelled him to take an insurance policy from ICICI Lombard General Insurance so that in case of any mishap, the insurer would be liable to repay the loan amount. The policy was valid from October 15 , 2013 to October 14, 2018, but no document was given to Dharambir regarding the insurance coverage. * Financial Services / 1h hrs ago INDIAN BANK UNVEILS QR BILL-BASED PAYMENT SYSTEM FOR CESC-MYSURU Chennai, Jan 1 (PTI) Public sector Indian Bank on Sunday said it has unveiled QR code bill payment system for Chamundeshwari Electricity Supply Corporation Ltd (CESC) making it as the first power distribution company to offer such an initiative to customers in Mysuru. View More BFSI VIDEOS * AADHAR COULD BE A GAME CHANGER, E-KYC A BIG OPPORTUNITY: MAHINDRA FINANCE CTO Watch here a quick interaction with Dinesh Gangwani, Chief Technology Officer, Mahindra Finance at 3rd ETBFSI Converge 2022. * 2 days ago FINTECH LEADERS DISCUSSION: THRIVING IN THE WORLD OF DIGITAL * 4 days ago K V SRINIVASAN OF PROFECTUS ON POTENTIAL OF WOMEN IN SMES, CLUSTER BASED LENDING AND ITRIE VALUES * 5 days ago TRILOGUE CHAT: WHAT DOES METAVERSE MEAN FOR BANKING 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 TOKENS LIKE POLYGON AND BIG EYES COIN CONTINUE TO THRIVE DESPITE MARKET CRISES * CRYPTO IS ‘EFFECTIVELY NONEXISTENT’ FOR BIG INSTITUTIONS, JPMORGAN’S GROSS SAYS * LAW ON CRYPTOCURRENCY ONLY AFTER INTERNATIONAL COLLABORATION, RISK EVALUATION: GOVT * NEED SIMILAR REGULATIONS FOR BANKS AND FINTECHS IF UNDERLYING ACTIVITY IS SAME: RBI DG * INDIA CENBANK CHIEF SAYS NEXT FINANCIAL CRISIS WILL COME FROM PRIVATE CRYPTOCURRENCIES * FTX SCANDAL: WHAT IS IT AND HOW DID IT UNRAVEL? 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