BFSI Summit 2024 highlights: RBI's caution against unsecured lending is appropriate, says KV Kamath

Business Standard BFSI Summit highlights: Catch all the updates related to the BFSI summit here

5:09 PM

At the moment, distributors have the data; companies need to be in control of their own data, says KV Kamath

Today if you look at certain products which are third party driven, distributors are the ones who control the data. With technology coming to the fold, companies should have access to their data, or else they will be in jeopardy, KV Kamath said today.

4:56 PM

Would not be too worried about FII outflows: KV Kamath

"I would not be too worried about FII outflow. I would be looking at corporate earnings as a key," KV Kamath said.

4:43 PM

Action taken by RBI against players in NBFC sector was absolutely warranted: KV Kamath

"There has been a cautioning to lenders to figure out the end use of the money being lent to customers. RBI should be commended for their actions," senior banker KV Kamath said today. 

4:40 PM

RBI is right to caution against unsecured lending: KV Kamath

Unsecured loan money is being used in the F&O market, former chief of the New Development Bank KV Kamath, said.

4:36 PM

Savings are being financialised due to technology: KV Kamath

"With the advent of technology, access to financial products has become simple. Earlier, this was not possible," KV Kamath said.

4:05 PM

Not being invested in the market is also risky, says Devina Mehra

"When things are little uncertain, it doesn't makes sense to move out of the market. The risk in staying invested is that you can lose some money but there's also a risk in not being invested,"  says First Global's Devina Mehra.

4:03 PM

There can be a correction but there won't be a sustained crash: Devina Mehra

"In 2010-2020 period, we compounded at just around 8.5 per cent, which was similar to what FDs delivered. This below-par performance created the base for the post-covid bull run, says First Global's Devina Mehra.

3:44 PM

If Trump raises tariffs, it could lead to inflation across the world: Samiran Chakraborty, MD, Citibank

"If Trump raises tariffs, and those tariffs turn out to be more inflationary for us, then RBI will not have a choice but to respond to it. Also, it will be a common inflationary trend across the world. So, most central bankers in other countries will also probably not have a choice but to respond," Samiran Chakraborty said at the panel discussion.

3:30 PM

Need to engage more with customers, says Future Generali's Alok Rungta

3:19 PM

Removal of GST on insurance premiums will help with better penetration, says Mayank Bathwal

"It is important to bring in affordability, and the removal of GST on insurance premiums will help with better penetration," Aditya Birla Health Insurance's Mayank Bathwal stated. 

3:13 PM

Hike in rates happens usually in sync with other central banks: SBI's Soumya Kanti Ghosh

"Events such as pandemic, US elections, and geopolitical tensions, have shown that trade will be a casualty when disruptions happen. In terms of rate cut decisions, we can say that they are specific to individual countries. However, rate hikes happens usually in sync with other central banks," says Soumya Kanti Ghosh. 

2:59 PM

Growth and inflation dynamics will supersede what's happening globally: ICRA's Aditi Nayar

"Growth and inflation dynamics will supersede what's happening globally. Food dominates our perception of inflation -- this is driven by local factors. RBI has cut the rate by only 50 basis points but US Fed cuts rate more sharply. There is no point trying to match them," says Aditi Nayar. 

 

2:51 PM

Rural demand has been lifting FMCG growth: CEA Anantha Nageswaran

Rural demand has been lifting FMCG growth, an example would be that all categories of the auto sector have seen growth year-on-year leaving the urban demand behind, Anantha Nageswaran said. States can choose to prefer one sector over the another but a country as a whole cannot choose one over the other,  Nageswaran stated.

2:40 PM

BFSI update: Comfortable with 6.5-7% GDP estimate, says CEA Nageswaran

2:30 PM

Should not over interpret the market reaction to Donald Trump's win, says Anantha Nageswaran

"In the financial sector, it is too early to attribute the rise in stock markets to the results of the US elections as the momentum was already in place before the results," says CEA Anantha Nageswaran.

2:22 PM

Capital expenditure should be accelerated as per budget commitments, says CEA Anantha Nageswaran

"If labour income and purchasing power does not increase it will have negative impact of corporate top lines and earnings," Anantha Nageswaran said today at BS BFSI Summit's fireside chat.

2:14 PM

BFSI update: Developed countries practiced restrictive trade policies in the past, says CEA

2:08 PM

BFSI update: India needs reliable, affordable energy supplies, says Anantha Nageswaran

1:04 PM

Insurance companies should pass on benefits to users, says Acko's Animesh Das

"From a regulatory point of view, I think there's sharpness in terms of how we keep a track of the claims and the benefits which are supposed to be passed to the consumers are being followed," Animesh Das, MD & CEO, Acko said. 

12:53 PM

GIFT City a ‘win-win’ for fund managers, say industry leaders

Asset and fund managers underscored the rising allure of GIFT City as a cost-effective and strategic alternative to traditional financial hubs like Mauritius and Singapore. Read here for more details.

12:26 PM

Affordability needs to be addressed in health insurance sector: Anup Rau

12:20 PM

BFSI update: Ease of doing business with product approval timelines is fundamental, says Acko's Animesh Das

12:17 PM

Debt route has become significant way to access capital, says BlackSoil's Ankur Bansal

"The demand for debt has increased manifolds as equity supply has reduced. More and more people are looking at other avenues of capital and debt has become significant way to access capital," Ankur Bansal said today.  

11:56 AM

Govt has taken up the issue of composite insurance, says Debasish Panda

11:50 AM

Creation of reinsurance space is definitely a priority, says Debasish Panda

"We have opened doors for domestic insurance to open shops. We are looking at cross border insurance to set up their shops here at GIFT City," Debasish Panda said. 

11:22 AM

We need to build trust for insurance among citizens, says Irdai's Debasish Panda

"Insurance has to touch every citizen. We need to build trust for insurance among citizens," Debasish Panda said today. "We had to revamp the regulatory architecture, by moving away from rural base to principal base, which is getting a lot of interest from international organisations as well," Panda added.

11:08 AM

An insurance score can be built if Aadhaar is made compulsory for treatment: Vibha Padalkar

10:52 AM

Regulator has asked us to prioritise customers' data, says ICICI Life's Anup Bagchi

"Health records are very sensitive. Regulator is pushing us to do more on cyber security front to safeguard customers' data," Anup Bagchi said today during a panel discussion covering the life insurance sector. 

10:46 AM

Structured finance will ultimately move to GIFT city, says BNP Paribas' Ganeshan Murugaiyan

From a corporate perspective, GIFT city is a very important development for India, especially when the country is moving towards the goal of becoming a $5 trillion economy, BNP Paribas' Ganeshan Murugaiyan said today. "Structured finance will ultimately move to GIFT. India will the hub for growth in aviation and we are the largest aviation financing bank; we are now doing it through the GIFT city route. Financing for clean energy will also happen through GIFT city," Murugaiyan added. 

10:37 AM

Data not being used effectively in insurance industry: Mahesh Balasubramanian

"We are not using data effectively in the industry. We can have something like an insurance score like a credit score. A higher insurance score will lead to a lesser premium," says Kotak Life Insurance's Mahesh Balasubramanian.