Page 3 - Financial Sector

Foreign portfolio investor exodus: Financial sector bears the brunt

The velocity of the selling was so high that barely any sector was spared. However, metals and utilities still managed marginal inflows

Global financial services firm Waystone opens its first India office

Plans to employ over 200 people in Mumbai by the first half of 2025

Account aggregator ecosystem clocks 100 million consents on framework

With 1059% growth, India's AA ecosystem is the fastest growing open finance ecosystem in the world

RBI Governor Das for reskilling, upskilling amid digitalisation push

Goal is to balance effective regulation with fostering financial innovations in a safe, robust and trustworthy ecosystem, the RBI governor said

Global tech outage: 10 banks, NBFCs witness minor disruptions, says RBI

Overall Indian financial sector remained insulated from the global outage

Bernstein sees 20% upside in IndusInd Bank, 7% downside in Bajaj Finance

The downside in Bajaj Finance, Bernstein said, was because much of the positives are priced into the stock's rich valuations

Shriram Finance raises $468 million multi-currency funds as social loans

The fund raise is closely on the heels of a previous transaction where the company raised $404 million

Need to reconsider sachetisation of F&O trade to safeguard savings: CEA

Cautioning against household savings getting invested in futures and options trade, Chief Economic Advisor V Anantha Nageswaran on Saturday said there is a need to reconsider sachetisation of F&O trade because it requires different financial literacy. Speaking at the CII's Annual Business Summit, 2024, Nageswaran said whenever financial sector development precedes national development the story hasn't ended well for other countries as well. Asian crisis 1997-98 is a very important example, he said. When we take pride in the fact that we have the world's largest trading volume in futures and options (F&O), we need to ask ourselves is that a sign of progress or a sign of concern, the CEA said. He said the financial sector has a responsibility to ensure that capital market grows in those areas where we can actually harness Indian household savings for productive purposes. Many of the people currently engaged in the market do not understand them The sachetisation of futures and ...

RBI action could increase business volatility for some NBFCs: Fitch

Firms' implementation of regulatory instructions varies, says ratings agency

US protests: Why are faculty voices muted?

The silence of faculty underscores a shift where the pursuit of academic values takes a back seat to preserving financial interests

Setu unveils Sesame, India's first domain-specific LLM for BFSI sector

Developed in collaboration with indigenous AI research firm Sarvam AI, the company said this marks a "ChatGPT moment" in financial services

PNB Housing Finance Q4 results: Net profit rises 57% to Rs 439 crore

The net fees and other income increased to Rs 110 crore in Q4 FY24 from Rs 33 crore in the corresponding quarter of the year-ago period

Poonawalla Fincorp Q4 results: Net profit rises 67% to Rs 332 crore

FY24 PAT up 146 per cent year-on-year to Rs 1,683 crore; AUM crosses Rs 25,000 crore

Rate cuts, index inclusion likely to help bond prices rally in FY25

Followed by the lower borrowing, the calendar for the initial half of the financial year gave another cheer to the bond market

RBI's journey of 90 years: The building of India's financial fortress

Prime Minister Narendra Modi will join the commemoration at the National Centre for Performing Arts in Mumbai

Give top priority to regulatory concerns, redressal: FIDC to member firms

FIDC said adherence to all applicable laws and regulations at all times is a sine qua non. Specifically, norms relating to Know Your Customer (KYC) and Anti Money Laundering (AML) should be followed

BS Banking Annual 2024: Fintech has tough days ahead, say experts

Fuel for fintech growth has been an issue for some time now

Mukesh Ambani's Jio Financial Services market cap tops Rs 2 trillion

Market players expect Jio Financial, which also operates a payments bank and voice box, and other fintech players to benefit as Paytm will struggle to retain its merchants and customers

Regulators should respond fast to financial sector accidents: Uday Kotak

He said the scars of the past should not make regulators too conservative or cautious but there should be a better regulatory environment

An anatomy of financial sector reform

The Budget speech of 1991 changed the tone of reforms, but in the decades since, the pace has been more driven by scams and crises than by necessity, argues Rajrishi Singhal in his book