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Top consultancy firm has quit on one of its partners

India’s top consulting firm has terminated the services of one of its partners after he was named in a Sebi investigation into insider trading.

need to establish green finance: RBI Deputy Governor

He has said that there is a need to mainstream green finance & devise ways for incorporating environmental impact into commercial lending decisions.

Fintechs need to be Regulated: RBI Deputy Governor

Banking solves temporal gaps in the need for liquidity through its ability to create money and credit, Deputy Governor said.

NBFCs ask RBI to relax the NPA deadline

NBFCs have reached out to the RBI Governors for relaxation in the deadline to comply with the new bad loan classification rules to October 2022.

Launch of RBI’s digital currency set for Q1 FY23

RBI is checking if intermediaries can be bypassed totally, and is also exploring the level of centralisation or decentralisation of the technology

Small bank model has proven a success

This was the conclusion on the fourth day of the BFSI Insight Summit where the country’s top SFB chiefs brainstormed the future of small finance banks.

Income Tax Raids At Fintech Firm in Delhi & Haryana

IT investigators found out that the company had made about Rs 500 cr cash transfer from its overseas arms under the ruse of buying services for two years.

India extends lead in fintech investments

India was once again leading fintech investments in the Asia-Pacific region, raking in $1.93 billion from 66 deals in the July-September quarter.

People holding cash for emergency

People may be holding as much as Rs. 3.3 lakh crores in cash for emergency due to the Covid related dislocation in their income expectations, estimates SBI.

Fintech firm launches ‘buy now pay later’

Platform will provide credit to customers to BNPL from anywhere. Customers using the platform can avail interest-free credit limit of up to Rs 10 lakh.

Fintech giant buys payments software firm

San Francisco-based giant said that the acquisition of a Bengaluru-based firm will help include payment reconciliation within its infrastructure.

Start-ups salary spending rises to 43%

Edtech, Fintech, and Electronics (online and offline) are a few of the sectors that have witnessed a significant rise in salaried spending in the last six months.

Bad Loans Likely To Rise Up To 9% By Fiscal

By the end of 2021-22, gross nonperforming assets at banks will be between 8 and 9 percent, up from 7.5 percent last year.

New norms put auto debits in no man's land

Recurring payment instructions using direct debit now require banks to contact customers before making such deductions.

Cash going to co-exist with 'CBDC' - former RBI gov

Addressing an event virtually, he further said cybersecurity is also one of the downside risks of the Central Bank Digital Currency.

India's Largest Debt Platform raises $90M

The fintech firm is building infrastructure to power debt markets and offers solutions for discovery and execution across a wide range of products.

Next Big Thing in Fintech: Account Aggregator

A new data-sharing system could give millions more access & control over their financial records, expanding the customer pool for lenders & businesses.

Auto-Debit Facility to Change from 1 OCT

From Oct 1, banks & other FIs will have to ask customers to provide additional factor authentication if the auto-debit mandate for the payment is above Rs 5K.

NARC to issue 30,600 Cr. in security receipt

Banks have identified bad loans worth 2 lakh Cr, which will be shifted to the NARC for resolution & nearly 90,000 Cr would be resolved in the 1st phase.

loan transfer norms are about to change

It’s worthy to note that an outline of RBI’s guidance on ‘transfer of loan exposures’ was made available to the public in June 2020.

privatisation talks afoot at Centre, RBI

This is going to be a different process than that of privatizing any other PSU, with more restrictions and measures required, an official said.

Leading Indian Bank Bars Crypto Exchanges

Bank has blocked crypto traders from receiving funds via its UPI platform and has asked payment processors to disable UPI on their platforms as well.

10 Month old insuretech startup shuts down

A Mumbai-based insure-tech startup company has rebranded itself. Its founder announced the development on Twitter.

Increase in incentives for banks

The Reserve Bank on Friday increased incentives for banks for distribution of coins to the general public to Rs 65 from Rs 25 per bag.

Tech giant's push threat to traditional FI's

Pay wants to push time-deposit products of small Indian banks that don’t have much of a retail liability franchise of their own.

India's lending market doubles in last five years

The market grew over 100% between FY17 to FY21. Overall personal loans portfolio witnessed 2.3X growth in originations by value & 3.8X by volume.

Advantage of AI-ML Platforms for BFSI sector in India

How Novel Patterns is Leveraging Advanced AI & ML Techniques to Pro-Actively Save Tons of Money for Banks & Reduce TAT for Loan Disbursals.