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We have updated our terms and conditions and privacy policy Click "Continue" to accept and continue with ET BFSI 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 CXO CONCLAVE Connecting Financial Institutions Digitally * ETBFSI FINNEXT SUMMIT The Future of NBFCs and FinTechs * REIMAGINE NEXT * SIDBI-ET MSMES/STARTUPS Roudtable Discussion * REIMAGINE NEXT - THE FUTURE OF LEARNING * ETBFSI.COM CONVERGE BFSI: The world of Hyper-personalization * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI * LEARNFEST * ETBFSI EXCELLENCE AWARDS 2021 AWARDS FOR EXCELLENCE IN INNOVATION * THE DIGITAL NEXT: SERIES 2.1 Live Virtual Summit * 3RD EDITION OF ETBFSI CXO CONCLAVE Unlocking the BFSI Potential * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021 * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021 * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY * NATIONAL COOPERATIVE SUMMIT * FINANCIAL INCLUSION & PAYMENT SUMMIT * Millennial Finance * FinTech Diary * BFSI Tech Tales * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * Innovation Masters * POLICY * FINANCIAL SERVICES x 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. 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 * 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 * 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. 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. * FOLLOW US @ETBFSI Follow @ETBFSI for the latest news, insider access to events and more. * * * * * * About Us * Contact Us * Advertise with us * Newsletter * RSS Feeds * Embed ETBFSI.com Widgets on your Website * Privacy Policy * Terms & Conditions * Guest-Post Guidelines * Sitemap Copyright © 2022 ETBFSI.com. 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