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Banking


NOT ALL BANK SYSTEMS ARE MEANT TO BE SUPPORTED BY CLOUD: CELINE LE COTONNEC

Ever since the pandemic, BFSI companies have been opting for technological
advancements, and have switched to data centers, cloud systems, etc. Celine Le
Cotonnec, Chief Data Innovation Officer, Bank of Singapore, spoke to ETBFSI, on
the sidelines of the Point Zero Forum in Zurich, on this emerging trend. Read
the full interview here.


LATEST NEWS

 * 3h hrs ago High cash in circulation aids current RBI policy
 * 3h hrs ago RBI defended rupee with $41 billion over 5 months, says report
 * 3h hrs ago TDS rule brings down volumes on crypto sites
 * 3h hrs ago Bank of India scouting for buyers for ₹3,600 crore distressed
   loans
 * 3h hrs ago HDB Financial Services loses half its market value in a year
 * 3h hrs ago HDFC and HDFC Bank merger proposal gets nod from bourses
 * 3h hrs ago HDFC Bank struggling to recover funds from customers it made
   millionaires accidentally
 * 3h hrs ago The worst stock selloff in half a century might not be done yet

View More
Fintech

HOW CRYPTO EXCHANGES ARE SHAPING INDIA'S WORKFORCE, AND THEIR REGULATORY
CHALLENGES

According to a report, the cryptocurrency sector is responsible for more than
10,000 active jobs in India. In this week's explainer, ETBFSI spoke to a few
crypto experts to get their views on how the cryptocurrency industry is shaping
India's workforce and what regulatory hurdles come their way. Here's what they
said.

Insurance

ONLINE AGGREGATORS MAY HAVE TO DISCLOSE COMMISSIONS PAID BY INSURANCE FIRMS

Under the proposed rules, web aggregators will have to disclose the commission
rates and rewards that they are entitled to receive from insurance companies for
selling their products

Banking

CREDIT IN BANKING SYSTEM MAY GROW 12% YOY IN FY23, DEMAND TO BE MONITORED:
REPORT

The banking system is witnessing a healthy pickup in loan growth, led by
continued momentum in the retail and SME segment, while industry growth is also
showing revival signs.

Videos

CO-LENDING MODEL A SURE SHOT SUCCESS, SAYS MONU RATRA OF IIFL HOME FINANCE

Monu Ratra, CEO and ED, IIFL Home Finance Ltd at the ETBFSI FinNext Summit 2022
explained what will be the impact of rising inflation concerns and repo rate
hikes on the housing sector. "Effects of the recent rate hike have to be seen in
the light of the different market segments we are talking about like the mid
market and the premium market should be more impacted than the affordable or the
underserved segment," he said. He also talked about interesting topics like
digitization in the housing sector which has historically not seen much
technological involvement and how the company is being a frontrunner in this.
Ratra who also spoke briefly about the co lending model, thinks that although it
has its own challenges, co lending model is a sure shot success when it comes to
fulfilling the needs of both sides and that there is no logical reasoning to
think that it won't work.

Blog

PRODUCT INNOVATION IN INSURANCE: THE NEW IMPERATIVE FOR A COMFORTABLE RETIREMENT

Whatever the retirement goal may be, the longer the period of investment and
savings, the better one will be to enjoy a hassle-free post-retirement life.
Retirement planning done right and strategic investment in the right plan can
ensure a comfortable and independent retired life.

Blog

TRAVERSING THROUGH A RECESSION, THE FINTECH WAY

The world is staring at an economic downturn due to the severe health and
financial shocks inflicted by the pandemic and the massive economic disruptions
triggered by the Russia- Ukraine war. Several countries are now going through
what the experts call - stagflation, which is a combination of both low growth
and high inflation.

View More


TOP FEATURED STORIES

Financial Services / 14 days ago


HOW ARE GREEN, SOCIAL AND SUSTAINABILITY BONDS FARING IN INDIA?

The total size of the Indian green, social and sustainability market as of
December 2021 stood at USD19.5 billion by 75 issuers in 3 currencies. Of these,
green bonds led the way accounting for USD18.3 billion followed by
sustainability bonds and social bonds at USD600 million and USD500 million
respectively.

 * NBFC
   
   'OPEN TO MORE PARTNERSHIPS, POSSIBLY BE A LENDING-BACKED MARKETPLACE'

 * Insurance
   
   'PIRAMAL ELIGIBLE TO BID FOR RCAP'S GENERAL AND HEALTH INSURANCE BIZ'

 * Fintech
   
   INDIAN FINTECHS GARNER 42% SHARE OF $3.3 BILLION DEALS IN APAC REGION

 * Insurance
   
   HOW INSURANCE COMPANIES ARE USING THE AA ECOSYSTEM TO TACKLE CHALLENGES

View More


BLOG

 * Raghunandan G - Founder & CEO, Zolve
   
   TRAVERSING THROUGH A RECESSION, THE FINTECH WAY

 * Sanjay Tiwari - Chief Strategy Officer, Exide Life Insurance
   
   PRODUCT INNOVATION IN INSURANCE: THE NEW IMPERATIVE FOR A COMFORTABLE
   RETIREMENT

 * Jatinder Mohan Singh Shah - COO -Business Banking, Fincare Small Finance Bank
   
   AIDING INDIAN MSME'S TO SUSTAIN RISING INFLATION

 * Harshvardhan Lunia - CEO & Founder, Lendingkart
   
   HOW GOVT IS ASSISTING FINTECH COMPANIES TO SOLVE THE EMERGING CHALLENGES IN
   THE FINTECH INDUSTRY

 * Robin Bhowmik - Chief Business Officer, Manipal Global Skills Academy
   
   BANKING ON TALENT: MOST IN-DEMAND SKILLS TO QUALIFY FOR OPPORTUNITIES IN THE
   FINTECH INDUSTRY

 * Sankarshan Basu - Professor, Finance and Accounting, Indian Institute of
   Management, Bangalore
   
   INDIAN BANKS BATTLE AGAINST FRAUDS

View More


FINTECH

Fintech / 2 hrs ago


TDS RULE BRINGS DOWN VOLUMES ON CRYPTO SITES

Volumes on WazirX were down the most at 82%, according to data sourced from
crypto research and consulting firm Crebaco. The decline was almost 70% on
CoinDCX and 76% on ZebPay.

 * Fintech / 2 hrs ago
   
   HOW CRYPTO EXCHANGES ARE SHAPING INDIA'S WORKFORCE, AND THEIR REGULATORY
   CHALLENGES

 * Fintech / 20 hrs ago
   
   INSURTECH FIRM TURTLEMINT LAUNCHES OPERATIONS IN GOA

 * Fintech / 1 day ago
   
   LENDINGKART RAISES RS 75 CR IN DEBT FROM GMO LLC, TRIODOS INVESTMENT

 * Fintech / 1 day ago
   
   CRYPTO LENDER VOYAGER DIGITAL SUSPENDS WITHDRAWALS, DEPOSITS

View More


POLICY

Policy / 2 hrs ago


HIGH CASH IN CIRCULATION AIDS CURRENT RBI POLICY

India ranks number three in terms of usage of banknotes with only Japan and Hong
Kong having a higher ratio of currency-in-circulation (CIC) to gross domestic
product (GDP).

 * Policy / 2 hrs ago
   
   RBI DEFENDED RUPEE WITH $41 BILLION OVER 5 MONTHS, SAYS REPORT

 * Policy / 3 days ago
   
   INTEREST RATES UNCHANGED ON SMALL SAVINGS

 * Policy / 3 days ago
   
   RBI: FINANCIAL SYSTEM MUST BE GUARDED AGAINST FINTECH RISKS

 * Policy / 3 days ago
   
   FINANCIAL SYSTEM CAPABLE OF ABSORBING MACRO SHOCKS WITH STRONG CAPITAL BUFFER

View More


NBFC



 * HDFC AND HDFC BANK MERGER PROPOSAL GETS NOD FROM BOURSES

 * DOMESTIC HOUSING SECTOR SET TO GROW IN NEXT 5 YEARS: PNB HOUSING FINANCE

 * INDIABULLS HOUSING RAISES $100 MILLION VIA OFFSHORE LOAN FROM SBI

 * PNB HOUSING FIN TO SEEK SHAREHOLDERS' NOD NEXT MONTH TO RAISE RS 12,000 CR IN
   DEBT

 * CHENNAI: SHRIRAM TRANSPORT’S Q1 DISBURSEMENTS UP 15%

 * VEHICLE FINANCIERS SEE STEADY ROAD; MARGIN COMPRESSION IMMINENT: REPORT

 * SEBI ASKS PFS NOT TO CHANGE BOARD TILL COMPLETION OF FORENSIC AUDIT

 * PALLONJI MISTRY, BILLIONAIRE CAUGHT IN TATA FEUD, DIES AT 93

 * IF BOOKS ARE CLEAN, THEN HARMONISATION OF LENDER NORMS SHOULD NOT BE A WORRY:
   RAVI SUBRAMANIAN

 * LENDERS EXTEND TIMELINE FOR RELIANCE CAPITAL RESOLUTION BY 2 MONTHS TO
   NOVEMBER

 * NBFCS SHOULD DIVERSIFY RISKS ACROSS SECTORS: FORMER SBI CHAIRMAN

 * RBI EXPLORING OPTIONS TO ENSURE CUSTOMER SAFETY DEALING WITH PPIS ISSUED BY
   NON-BANK ENTITIES

 * ANNAPURNA FINANCE RAISES $15 MILLION IN EQUITY FROM FRENCH INVESTOR PROPARCO

 * IIFL FINANCE GETS BOARD'S APPROVAL TO RAISE RS 5,000 CR BY ISSUING BONDS

 * MSME LENDING AN OPPORTUNITY FOR NBFCS, SAY LEADERS

 * SHRIRAM GROUP PLANS TO ADD 2,500 EMPLOYEES FOR MERGED ENTITY IN 18-24 MONTHS

 * LIC HOUSING FINANCE HIKES LENDING RATE BY 60 BPS

 * PIRAMAL FOR A CHANGE IN COMPENSATION STRUCTURES IN FINANCE SECTOR

 * GODREJ CAPITAL AIMS TO LAUNCH UNSECURED LOANS FOR NBFC ARM LATER THIS YEAR:
   MANISH SHAH

 * SHRIRAM GROUP RECEIVES RBI NOD FOR MERGER OF FINANCIAL SERVICES BUSINESS

View More


MORE FROM ETBFSI

 * Policy / 3h hrs ago
   
   
   HIGH CASH IN CIRCULATION AIDS CURRENT RBI POLICY
   
   India ranks number three in terms of usage of banknotes with only Japan and
   Hong Kong having a higher ratio of currency-in-circulation (CIC) to gross
   domestic product (GDP).

 * Policy / 3h hrs ago
   
   
   RBI DEFENDED RUPEE WITH $41 BILLION OVER 5 MONTHS, SAYS REPORT
   
   According to a report on India’s foreign exchange reserves by Barclays, while
   last week’s imposition of higher duties on gold imports and export levies on
   petroleum products are beneficial at the margin, they are unlikely to
   “materially alter the widening current account deficit”.

 * Fintech / 3h hrs ago
   
   
   TDS RULE BRINGS DOWN VOLUMES ON CRYPTO SITES
   
   Volumes on WazirX were down the most at 82%, according to data sourced from
   crypto research and consulting firm Crebaco. The decline was almost 70% on
   CoinDCX and 76% on ZebPay.

 * Banking / 3h hrs ago
   
   
   BANK OF INDIA SCOUTING FOR BUYERS FOR ₹3,600 CRORE DISTRESSED LOANS
   
   The lender has asked ARCs to submit an expression of interest with an
   indicative price for the loan accounts they would like to acquire, said one
   of the persons cited above.

 * Financial Services / 3h hrs ago
   
   
   HDB FINANCIAL SERVICES LOSES HALF ITS MARKET VALUE IN A YEAR
   
   "The shares of HDB Financial have fallen nearly 50% from the peak of ₹1,200
   hit in the early half of 2020; this is largely due to the lagging financial
   performance and the regulatory overhang," said Rahul Thalia, director,
   Sarffin Financial Advisors. "The shares had also risen due to expectations
   that an IPO was in the offing but the proposed merger has also cast a doubt
   over those plans."

 * NBFC / 3h hrs ago
   
   
   HDFC AND HDFC BANK MERGER PROPOSAL GETS NOD FROM BOURSES
   
   New Delhi, Jul 3 (PTI) The proposal of merger of HDFC with its banking
   subsidiary HDFC Bank, the biggest transaction in India's corporate history,
   has got approval from stock exchanges. Both HDFC and HDFC Bank have got
   no-objection from both stock exchanges.

 * Banking / 3h hrs ago
   
   
   HDFC BANK STRUGGLING TO RECOVER FUNDS FROM CUSTOMERS IT MADE MILLIONAIRES
   ACCIDENTALLY
   
   "The issue of the said money transfer has been almost completely resolved. To
   put matters in context, a display error was noticed in balances of a few
   customer accounts post a system patch upgrade on the night of May 28/ early
   morning of May 29, 2022," HDFC Bank said in a statement.

 * Financial Services / 3h hrs ago
   
   
   THE WORST STOCK SELLOFF IN HALF A CENTURY MIGHT NOT BE DONE YET
   
   Coming off the worst first-half since 1970, US equities now face a triple
   whammy of sticky inflation, recession risks and the threat to corporate
   profits from sinking consumer confidence. After just about everyone on Wall
   Street got their 2022 predictions wrong, investors are now focused on a toxic
   mix that spells stagflation and more damage to valuations.

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CRYPTOCURRENCY

 * EUROPEAN UNION INKS DEAL ON CRYPTO TRANSFER TRACING RULES

 * BITCOIN POISED FOR BIGGEST QUARTERLY DROP IN MORE THAN A DECADE

 * EU BACKS CRYPTO ANTI-MONEY LAUNDERING RULES

 * SHIBA INU BURNS ABOUT 400 TRILLION TOKENS TO CAP SUPPLY; BLEEDS 13%

 * INSIGHT-CRYPTO CRASH THREATENS NORTH KOREA'S STOLEN FUNDS

 * CRYPTO WINTER: WHY THIS BITCOIN BEAR MARKET IS DIFFERENT FROM THE PAST

 * ELECTRICITY USED TO MINE BITCOIN DECREASED SHARPLY AS CRYPTO CRISIS WIDENS

 * CRYPTO HACKERS STEAL $100 MILLION WITH HORIZON BRIDGE ATTACK

 * INDIAN CRYPTO EXCHANGE PUT A BRAVE FACE AS CURRENCIES PLUMMET

View More


BFSI VIDEOS


 * CO-LENDING MODEL A SURE SHOT SUCCESS, SAYS MONU RATRA OF IIFL HOME FINANCE
   
   Monu Ratra, CEO and ED, IIFL Home Finance Ltd at the ETBFSI FinNext Summit
   2022 explained what will be the impact of rising inflation concerns and repo
   rate hikes on the housing sector. "Effects of the recent rate hike have to be
   seen in the light of the different market segments we are talking about like
   the mid market and the premium market should be more impacted than the
   affordable or the underserved segment," he said. He also talked about
   interesting topics like digitization in the housing sector which has
   historically not seen much technological involvement and how the company is
   being a frontrunner in this. Ratra who also spoke briefly about the co
   lending model, thinks that although it has its own challenges, co lending
   model is a sure shot success when it comes to fulfilling the needs of both
   sides and that there is no logical reasoning to think that it won't work.

 * 3 days ago
   
   NEXT 5 YEARS TO BE THE BRIGHTEST FOR INDIAN FINTECHS, SAYS LENDENCLUB CEO

 * 4 days ago
   
   CREDIT DEMAND TO REMAIN POSITIVE IN SPITE OF RATE HIKE, NO IMMEDIATE
   SLOWDOWN, SAYS UMESH REVANKAR

 * 5 days ago
   
   MUST FOCUS ON DEVELOPING PRUDENT INVESTORS: PADMAJA CHUNDURU FOR MILLENNIALS
   & GENZ

View More


EDITOR'S PICK

 * 2 hrs ago
   
   CREDIT IN BANKING SYSTEM MAY GROW 12% YOY IN FY23, DEMAND TO BE MONITORED:
   REPORT

 * 2 hrs ago
   
   ONLINE AGGREGATORS MAY HAVE TO DISCLOSE COMMISSIONS PAID BY INSURANCE FIRMS

 * 1 hr ago
   
   NOT ALL BANK SYSTEMS ARE MEANT TO BE SUPPORTED BY CLOUD: CELINE LE COTONNEC

 * 2 hrs ago
   
   HOW CRYPTO EXCHANGES ARE SHAPING INDIA'S WORKFORCE, AND THEIR REGULATORY
   CHALLENGES

 * 1 day ago
   
   TRAVERSING THROUGH A RECESSION, THE FINTECH WAY


MOST READ

 * 5 days ago
   
   HDFC BANK-BACKED LENTRA ACQUIRES AI STARTUP THEDATATEAM

 * 6 days ago
   
   AFTER 21 YEARS OF PRIVATISATION AND EXTENSIVE EFFORT, HOW HAS INDIA'S
   INSURANCE SECTOR EVOLVED?

 * 4 days ago
   
   ONECARD SEES SIGNIFICANT NUMBER OF CREDIT CARDS COMING FROM FINTECHS

 * 7 days ago
   
   WHY MSMES ARE LOW ON HEALTH INSURANCE AND HOW INSURTECHS ARE SOLVING IT

 * 7 days ago
   
   HOW GOVT IS ASSISTING FINTECH COMPANIES TO SOLVE THE EMERGING CHALLENGES IN
   THE FINTECH INDUSTRY

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