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Weekly BFSI news wrap

The Fintech Association for Consumer Empowerment, the first self-regulatory organisation to get the RBI approval, plans to allow more members, including non-fintech companies.

Weekly wrap-up of the BFSI sector

HDFC Bank is set to become the largest employer in the banking sector, surpassing SBI. Lately, private banks have increased their workforce by 1.5 times

BFSI sector valuation discount to overall market at a record high

Valuation re-rating has been much sharper for non-BFSI companies

BFSI news wrap

The US Federal Reserve has cut the target range for federal funds rate by 50 basis points, from 5.25 and 5.5 per cent to 4.75 and 5 per cent.

Small businesses generate 35 mn job applications till Aug 2024: Report

Small and medium enterprises have generated over 35 million job applications in the first eight months of this year fuelled by rising demand in key sectors such as BFSI, BPO, and hospitality, says a report. This rise reflects growing demand for key roles such as Sales & Marketing Managers, Accounting Technicians, Telecallers, Back Office Executives, and Business Development Associates, according to jobs and professional networking platform apna.co. "SMBs and MSMEs employ more than 110 million people and their success is crucial for our nation's journey towards the USD 5 trillion economy goal. As the backbone of our economy, these sectors are set to witness significant growth, with workforce demand expected to rise in tandem," Nirmit Parikh, Founder & CEO, apna.co said. Notably, over 55 per cent of total job applications for SMB roles came from tier-2 and tier-3 cities like Jaipur, Indore, Ahmedabad, Lucknow, Kochi, and Bhubaneswar, apna.co said. As businesses expand in these ..

Post-Covid boom in profits yet to show in India Inc capital expenditure

Corporate profits have grown at a CAGR of 32.4% since FY20 but firms' net fixed assets have grown at 8.6% CAGR in FY20-24

BFSI news wrap: Your weekly wrap-up of the BFSI sector | #bfsi #news

Your weekly wrap-up of the BFSI sector

BFSI on hiring sprint, IT sector stumbles in headcount marathon in FY24

In comparison, BFSI firms hired 172,000 people on a net basis in 2022-23 (FY23), while IT services companies had a net recruitment of 131,000 employees

BFSI news wrap: Your weekly wrap-up of the BFSI sector

Created by the Reserve Bank Innovation Hub, Unified Lending Interface is a new platform aimed at providing quick and easy loans to rural and small borrowers. ULI is expected to revolutionise lending,

Your weekly wrap-up of the BFSI sector

Public sector banks have requested the Finance Ministry to hold government cash balances with them instead of the RBI, to help increase the declining low-cost CASA deposits.

Banks' certificates of deposit fund-mop up more than triples in country

Strategy makes up for imbalance in banks' deposit and credit growth

India Inc gives weakest performance on profit front in seven quarters

Sales growth, too, remains modest amid demand challenges

Indian GCCs employed more than 16 lakh people in FY23: Economic Survey

The software, internet, and banking, financial services, and insurance (BFSI) sectors collectively accounted for about 58 per cent of India's IT GCC talent, according to the document

Q1 results review: Early-bird net profit growth slowest in 7 quarters

The combined net profit of the 210 companies that have declared their Q1FY25 results so far is down 4.2 per cent from the year-ago period - their worst showing in seven quarters

Insurance industry reports premium growth in Q1 FY25 ahead of Budget

State-owned LIC reports robust rise in life insurance business

Group representing NBFCs seeks revisit of membership norm for SRO

Finance Industry Development Council has sought a meeting with the central bank

Fundamentals strong for global fintech

Funding for the sector hit a three-year low last year but revenues improved

CII, Nasscom to provide digital skilling to 100,000 non-IT youth in 2 years

CII said that seven target sectors have been identified to begin with

Securitisation volumes back to historic high after HDFC twins' merger

Housing finance company accounted for 23% of the FY23 volumes of around 1.8 trillion

Why the salary packs of top NBFC executives are on RBI's radar

Adherence to variable and deferred remuneration norms is under scrutiny