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Fintechs don't have track record to evoke trust: RBI's T Rabi Sankar

Speaking at Global Fintech Fest 2024, Sankar noted that fintech cos largely not licensed by regulator, making it even more crucial for them to prove they can operate responsibly and earn public trust

Fintechs can't bypass compliance irrespective of scale, says RBI ED

'Trying to level the playing field between traditional lenders & fintechs'

PhonePe CEO says UPI mcap overhang holding back company from going public

Speaking at the Global Fintech Fest, Sameer Nigam, chief executive officer, PhonePe, said, "As far as going public, the market cap overhang is definitely a problem for us

RBI focusing on making UPI, RuPay truly global, says Governor Das

RBI grants license to FACE as self-regulatory org in fintech sector

Lot of headroom for digital payments platform UPI to grow: Google Pay V-P

Speaking at the Global Fintech Fest, Kenghe said close to 400 million customers are transacting on UPI currently

Interlinking domestic fast-pay ways won't solve crossborder issues: Waller

Says frictionless cross-border payments will make it difficult to check money laundering and terror funding

Canara Bank mops up Rs 3,000 crore in additional Tier-I bonds at 8.27%

Canara Bank managed to secure funding at a lower-than-expected 8.27 per cent -- a positive indicator for other lenders preparing to tap the AT-1 market in the near term

Financial firms in last-minute rush to comply with Trai mandate on URLs

But most banks play down impact, say they do not send promotional links

Bank of Baroda raises Rs 5,000 crore via 10-year infra bonds at 7.3%

Coupon rate lower than what SBI offered in recent fundraise

RBI to launch Unified Lending Interface to transform lending space: Das

There should not be in any rush to roll out system-wide CBDC before one acquires a comprehensive understanding of its impact, Das said

ICICI Bank invites bids to sell $28 million exposure in John Energy

Entities interested in acquiring stressed exposure have to submit EoIs by August 28

IndoStar Capital invites counterbids to sell Rs 357 cr of stressed loans

The Mumbai-based shadow lender intends to complete the sale of the stressed assets by August 27

Rising costs from T+1 timeline may push weaker P2P players to the brink

While there are 26 licensees, only 10-11 players are active in this space, with the industry's assets under management totalling Rs 11,000 crore

Insurance must be bought for right reason: HDFC Life CEO Vibha Padalkar

We don't believe in fire sale, says Vibha Padalkar

Despite operational risks, data shows digital payments cruising ahead

In this context, Business Standard takes a look at how digital payments in India have evolved over the years.

Transmission of policy rate has been greater on deposits, shows RBI data

Among different bank groups, state-owned banks have seen a greater increase in interest rates on term deposits-both new and existing-compared to their private sector peers

Central Bank of India's bid for Future's insurance JV stakes gets CoC nod

The state-owned lender has to get Irdai's approval in 90 days to buy FEL's stake in insurance JVs

Phoenix invites bids from ARCs for sale of Rs 3,550 crore retail NPA

The private sector ARC has set a deadline of August 26 for interested entities to submit expressions of interest (EoIs) for the assets on offer

AUM of ARCs may decline 7-10% in FY25 due to lower acquisitions: CRISIL

AUM of private sector ARCs is expected to be Rs 1.2 - Rs 1.25 trillion in FY25 compared to Rs 1.35 trillion in the previous fiscal

Expecting NIMs to climb in a few quarters, says RBL Bank MD & CEO

He outlines the bank's approach to safeguarding its net interest margin (NIM), mobilising liabilities amid fierce competition for deposits, and reorganising its advances portfolio