Page 2 - Financial Sector

Are we on the cusp of an insurance revolution transforming India?

The stage is set - not just for incremental growth, but for a structural leap that can redefine how insurance is accessed, delivered and experienced across India

Motilal Oswal Financial Services logs ₹63 cr loss in Q4; revenue drops 44%

The financial firm's total revenue from operations also declined by 44 per cent year-on-year (Y-o-Y) to Rs 1190 crore in the quarter ending March

India to be 6th largest insurance market by 2032, says FM Sitharaman

Sitharaman in a tweet highlighted decriminalisation and reduction in compliance burden for businesses and individuals among reforms undertaken by the government in the last ten years

RBI is architect of India's financial transformation: President Murmu

Central bank has ensured financial system's resilience in 'face of any adverse international trends'

Sebi extends RPT disclosure deadline by 3 months, now effective from July 1

The decision follows feedback from stakeholders requesting more time to adapt to the Industry Standards

Shapoorji Pallonji Group in final lap to raise nearly Rs 28,600 crore debt

Over a dozen investors keen on buying the bonds that may be backed by the group's stake in Tata Sons

Carnelian Asset targets $2 bn AUM by FY26, plans expansion in 7 cities

Carnelian Asset Management & Advisors aims to increase its asset under management (AUM) to USD 2 billion by March next financial year, notwithstanding the current subdued market sentiment. The entity, which manages funds of high networth individuals, also plans to expand its reach in seven new cities during the next financial year. "We hope to touch AUM of USD 1.2 billion by this month end and USD 2 billion by the end of next financial year," Carnelian Asset Management & Advisors founder Swati Khemani told PTI. Asked if the subdued market sentiment has impacted fund flow, she said, most of the investors feel that this is a temporary phenomenon and it should be corrected during the course of next financial year. Most investors of Portfolio Management Services and Alternate Investment Funds are having deep pockets and their investment horizon is medium to long-term. To attract overseas money, Khemani said, Carnelian Asset Management & Advisors has set up an office in GIFT ...

CLSA lowers target price for IndusInd Bank to Rs 900 but sees 34% upside

Near term fraught with uncertainty but if history is a guide fundamentals could drive a recovery, says the brokerage

RBI warns of excessive unsecured loans, euphoria over derivative products

RBI deputy governor M Rajeshwar Rao emphasises on meaning engagement beyond account opening

Overall bank exposure to NBFCs moderates, but remain primary source

Overall bank exposure to NBFCs as share of total bank credit declined in 2023-24, which bodes well for overall financial stability, according to the Reserve Bank of India

Gen AI's integration with financial sector to foster innovation: SBI chief

The increasing integration of Artificial Intelligence and Gen AI with the financial sector has the potential to foster innovation and transform the banking sector in the coming years, SBI Chairman C S Setty said on Friday. Setty also said the rising digital economy and its influence on the Indian banking sector can be gauged from the range of digital products that the banks offer today. "The growing interest in Artificial Intelligence, Gen AI and its integration into financial sector has the potential to drive further advancements, fostering innovation, efficiency and resilience for benefit of the financial sector... There is a continuing need for the banks to strengthen their risk management standards, business arrangement and customer onboarding to check unscrupulous activities," Setty said at an event organised by The Institute of Chartered Accountants of India (ICAI). Further, he said with the advent of technology-based banking products and the growing use of these products by .

What lies ahead for banking and financial sector in the Year of the Snake?

Will we see a new trend with the sector shedding its skin and transforming itself? Or, will the theme of the year remain continuity with change?

Rural roots, digital wings: The new trajectory for India's financial sector

With the right blend of policy support, technological advancements and customer-centric strategies, India's financial sector is ready to play a pivotal role in the nation's journey toward sustainable

Looking ahead: Financial sector braces for leadership changes in 2025

Two public sector banks, Punjab National Bank (PNB) and Indian Bank, will welcome new leaders at the start of the year as their current incumbents retire on December 31, 2024

India's economic revolution of 1991: Manmohan Singh's lasting legacy

India's financial sector, dominated by public sector banks in 1991, had been long repressed by rigid controls on interest rate

Max Life rebrands to Axis Max Life Insurance after regulatory approval

Earlier this year, Axis Bank's board of directors approved the proposal to acquire Max Life shares

Need to differentiate between financial, non-financial regulation: CEA

Chief Economic Advisor V Anantha Nageswaran on Wednesday said there is a need to differentiate between regulation of financial and non-financial sectors as competition in financial sector can lead to excessive risk taking and bring instability. "We do need to make a distinction between regulation with respect to financial sector and regulation with respect to non-financial sector of the economy," Nageswaran said at the CII Global Economic Policy Forum 2024. He said in non-financial sector, except in case of natural utilities where one needs a regulator to protect customer interest, competition or market forces will take care of what the regulators do. In financial sector, regulators have the tendency to lean towards excessive regulations, as if things go wrong in this sector the state is expected to bail out and the effects are systemic. " In financial sector, competition sometimes leads to excessive risk taking and competition can be a source of instability rather than stability,

PSBs to launch new products in 3-4 months to ramp up credit growth

Financial Services Secretary M Nagaraju on Tuesday said public sector banks will unveil new products in the next few months to improve credit growth. "We are actually committed to enhancing, and we want to push as much credit as possible because we have a huge number of young people," he said while addressing the Financial Inclusion and Fintech Summit organised by CII here. Public sector banks are going to launch new products in the next 3-4 months to push credit for all sectors, including MSME, he said. Over the last few years, the government has already taken multiple steps to improve credit availability to small borrowers, including announcing a new credit model in the Budget to lend to borrowers with no previous financial records. Though the banking sector is robust, Nagaraju said rising digital frauds are posing a risk to financial sector stability, and banks should focus on addressing this challenge. Both digital innovations and financial literacy will help mitigate this, he

India's financial regulatory pillars set for a leadership shake-up

Four key positions will become vacant over the next four months, marking a potential reshuffle by the end of the current financial year

BFSI sector leasing projected to be over 11 mn square feet in 2024: JLL

Global players are involved in about 65 per cent of BFSI leasing activity in India