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See whats happening in BFSI sector right now
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Proactively engaging with regulators, says Indel Money CEO; IPO likely in 2027
The CEO told that the company is closing this quarter (Q4FY24) at Rs 1600 crores of AUM with revenue around Rs 200 crores and profitability around Rs 50 crores. 'We are confident of achieving this on account of continuing credit squeeze, high cost of retail credit and the record gold prices,' he said. Mohanan also said the company is planning to go public by 2027.
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Credit access exists for women entrepreneurs but with high degree of informal borrowing: Report
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NBFC leaders bat for responsible lending and equitable partnership in co-lending with banks
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ICICI Bank beats Q4 profit estimates on strong loan growth, but margin shrinks
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Loan service providers to disclose all loan offers from lender partners: RBI draft rules
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NBFCs focus on customer-centric innovations amid regulatory, technological changes
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BNPL-type practice since the period of Guptas and Mauryas, says former RBI CGM
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What’s rotten in the state of banks’ technology?
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NBFC Connect 2024: Leaders to uncover transformative collaborations
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Cross-border payments platform BriskPe raises $5 million seed funding from PayU
Fintech Briskpe will use the capital to strengthen its product and service offerings, build up its team, and scale its reach to enable more Indian businesses to set off on their global journey with seamless cross-border payments.
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All About Digital Savings Accounts and How They Transform Your Banking Experience?
The rise of digital savings accounts is not just a testament to technological innovation but also a reflection of changing consumer preferences. Today's tech-savvy generation demands instant results, seamless experiences, and personalised services. Digital banks like Kotak811 are meeting these expectations head-on, offering a range of features and benefits that cater to the evolving needs of modern customers.
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PSU banks will continue re-rating; SBI, ICICI Bank & Axis Bank poised for a breakout: Laurence Balanco
You can see from foreign flows perspective that rebound in China is detracting from some of the investment in India. I do not think it changes the longer-term trends, but we are in one of those holding patterns similar to the fourth quarter of 2023.
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ICICI Securities appoints ICICI Bank’s Group CHRO T K Srirang as Joint MD
Currently, Srirang is associated with ICICI Bank as Group Chief Human Resources Officer and the Head of Human Resources function & Infrastructure Management Services Group. He also oversees the human resources function for ICICI group companies.
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PayU invests $5M in BRISKPE to boost cross-border payments ecosystem
This investment in BRISKPE underscores the importance of seamless international payments as part of PayU India’s strategy and complements its existing offerings for exports and imports, PayU said on Monday.
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Bajaj Allianz General Insurance Unveils Prive - A One-of-a-Kind Program that Provides Unparalleled Coverage and Service Excellence
Bajaj Allianz General Insurance, in addition to its strong focus on increasing insurance penetration across all the above-mentioned customer segments, will now also cater to a special segment of customers typically requiring insurance solutions with enhanced coverage limits.
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Credgenics emerges as the largest recognised ODR start-up in India by size, scale, volumes and revenue
By integrating the Online Dispute Resolution (ODR) framework, Credgenics offers a simplified digital approach for resolving financial disputes. Leveraging advanced technology and robust application of legal expertise, Credgenics has been successful in managing the resolution of $70 billion in repayments and handles 2.5 million unique disputes every month growing at 20 percent monthly.
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Money mule transactions: Banks may block your account for these fund transfers; here's how to secure your account
Bank account block: There are at least 5 Indian banks who are tracking money mule transactions conducted through their account holders. In this regard HDFC Bank has already taken an action and launched investigation too in the suspected cases. Know here how banks may block access to your account and funds if a money mule transaction is found.
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Private banks grapple with rising IT expenses amid surge in transactions
Private banks are experiencing a significant increase in information technology expenses as most transactions are now conducted digitally. Unlike the one-time capital expenses incurred when they migrated to core banking, IT is now becoming a recurring cost accounting for up to 10% of operating expenses. Bankers have responded to queries about their level of IT capabilities in light of the RBI action on Kotak Mahindra Bank freezing digital onboarding and issuing credit cards.
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FIU notifies fresh money laundering, terror financing reporting alerts for capital markets
A fresh set of 'alert indicators' have been issued by India's financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime.
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Unemployment among Indian youth is transient: RBI MPC member
Goyal pointed out that the ILO report also shows that youth unemployment has been falling in the recent period, it was 17.5 per cent in 2019 and 10 per cent in 2023.
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Charting the global economy: BOJ holds; US inflation won’t let up
The US data this week indicated inflation accelerated in the first quarter, reinforcing expectations the Federal Reserve is likely to keep interest rates higher for longer.
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Indian economy remains in bright spot: Ministry of Finance
In contrast to a cautious assessment of the global scenario, the Indian economy continues to exhibit strong economic performance with broad-based growth across sectors, the Ministry of Finance asserted.
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Rising heat wave unlikely to scorch growth: Experts
"Construction and agriculture are likely to be impacted more. Within agriculture, the vegetable output might get impacted more, as most of the cereal sowing will start later," said Sunil Kumar Sinha, principal economist, India Ratings and Research.
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Reliance Capital lenders urge Hinduja Group arm to stick to resolution plan deadline
As per the approved resolution plan, IIHL has to make an upfront payment of Rs 9,650 crore to the RCAP lenders.
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Go First revival chance fade as lenders, bidders spar on valuation
A Delhi High Court order on Friday allowing lessors to repossess their aircraft has further dented hopes of reviving Go First, they said. Ajay Singh, promoter of SpiceJet, and an entity owned by Nishant Pitti-owner of online travel portal EaseMyTrip had jointly bid for the airline. The second bid is from Sharjah-based Sky One.
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Cash in circulation more than doubles since FY17 on consumption demand
The currency in circulation has more than doubled from Rs 13.35 lakh crore in March 2017 to Rs 35.15 lakh crore in end March 2024. Significantly the currency in circulation has happened despite the central bank deciding to withdraw the Rs 2000 denomination banknotes from circulation from May 2023 which resulted in the central bank getting 97.83 percent of Rs 3.56 lakh crore worth notes back to the banking system.
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Powell poised to keep Fed on higher-for-longer path
The last time the US central bank chair spoke, he signaled that policymakers were likely to keep borrowing costs high for longer than previously anticipated, pointing to the lack of further progress on bringing inflation down.