Page 7 - Finance News
Bank nomination rules amended to align with will, avoid disputes
For deposits, nominee shares should mirror the division in the will; for lockers, the order should match the will
 "Bank nomination rules amended to align with will, avoid disputes")
Jio Payments Bank updates its website domain as per RBI guidelines
The payments bank's new official domain, jiopayments.bank.in, replaces jiobank.in as part of RBI compliance and enhanced digital security framework
 "Jio Payments Bank updates its website domain as per RBI guidelines")
Zarin Daruwala appointed group CEO of PL Capital, effective October 13
Daruwala, who brings more than 35 years of experience in banking and financial services, will steer the broking firm's next phase of expansion across institutional equities
 "Zarin Daruwala appointed group CEO of PL Capital, effective October 13")
IFSCA proposes differential distribution in funds to boost blended finance
The move is aimed at enabling blended finance structures that combine concessional or philanthropic capital with private investment to fund socially desirable but commercially less viable projects
 "IFSCA proposes differential distribution in funds to boost blended finance")
A month on, GST 2.0 positive for customers, insurers face teething issues
Sales and inquiries see a spike, even as insurers plan to use multiple levers, including renegotiating commissions with distributors, to reduce the impact of withdrawal of input tax credit (ITC)
 "A month on, GST 2.0 positive for customers, insurers face teething issues")
Fintech NBFCs grew faster than industry, but both show annual moderation
Operating on a small-ticket, high-volume model, fintech-driven NBFCs saw active loans grow by 25.6 per cent on an annual basis, outperforming the overall NBFC industry's 15.1 per cent growth
 "Fintech NBFCs grew faster than industry, but both show annual moderation")
UPI accounts for 85% of payment volumes: RBI's payment system report
RTGS, mainly used for high-value transfers, had largest share of transaction value in H1CY25
 "UPI accounts for 85% of payment volumes: RBI's payment system report")
Credit card transactions surge, but debit card transactions decline: RBI
The report also highlighted that private sector banks continue to dominate the credit card segment, focusing on digital and co-branded offerings for customers
 "Credit card transactions surge, but debit card transactions decline: RBI")
RBI proposes to make use of UTI mandatory for OTC derivative transactions
The RBI stated that the UTI-generating entity will be determined based on a "waterfall table," which assigns the responsibility for UTI generation in a sequential manner
 "RBI proposes to make use of UTI mandatory for OTC derivative transactions")
BNPL: Limit instalments to 10-15% of income and restrict usage to two plans
Those with multiple loans, irregular earnings, or poor repayment habits should avoid this form of quick credit
 "BNPL: Limit instalments to 10-15% of income and restrict usage to two plans")
Reimagining the trousseau: Tradition makes way for practicality, identity
From metallic pastels to heirloom Banarasis, India's 2025 bridal couture blends legacy with lightness as brides look to stamp their own identity on their wedding outfits
 "Reimagining the trousseau: Tradition makes way for practicality, identity")
SFBs boost secured lending as they move towards universal bank status
AU, Ujjivan, and Jana Small Finance Banks increase share of secured assets in line with RBI's diversification guidelines for voluntary conversion to universal banks
 "SFBs boost secured lending as they move towards universal bank status")
US trade deal may reignite interest in manufacturing fund segment
Only seasoned investors with high risk appetite and a long horizon should hold manufacturing funds within their satellite portfolios, say experts
 "US trade deal may reignite interest in manufacturing fund segment")
Extending deadline not enough, MCA portal needs fixing, say experts
Despite the MCA extending its filing deadline to December 31, professionals say persistent glitches on the new version 3 portal continue to stall compliance work
 "Extending deadline not enough, MCA portal needs fixing, say experts")
Co-branded credit cards: Make sure your annual spend justifies the fee
Check whether reward points are easy to redeem, their expiry conditions, and brand-specific limits
 "Co-branded credit cards: Make sure your annual spend justifies the fee")
Revolut India bets big on prepaid Visa cards, targets $7 bn in transactions
Revolut India is rolling out prepaid cards on the Visa network, and is planning to add 20 million customers in the next five years in the country
 "Revolut India bets big on prepaid Visa cards, targets $7 bn in transactions")
Banking pads up to cover a new ground with risk-based deposit insurance
Shifting to a system of risk-based deposit insurance may over time force banks to become even more prudent and mindful of their finances
 "Banking pads up to cover a new ground with risk-based deposit insurance")
Bureau credit scores should not be the sole filter: IDfy's Ashok Hariharan
Ashok Hariharan, founder of IDfy, interacted with Raghu Mohan via email on issues in retail onboarding and underwriting
 "Bureau credit scores should not be the sole filter: IDfy's Ashok Hariharan")
Bank of India Q2FY26 results: Net profit up 7.62% on dip in credit costs
The Mumbai-based lender's shares ended 1.67 per cent lower, closing at Rs 123.30 per share on the BSE
 "Bank of India Q2FY26 results: Net profit up 7.62% on dip in credit costs")
Private life insurers see early demand surge after nil GST rollout
Private life insurers report strong post-GST growth as customers respond positively to the nil GST regime; term insurance demand surges 2.5x, say ICICI Prudential, HDFC Life
 "Private life insurers see early demand surge after nil GST rollout")