Page 5 - Financial Sector

Financial sector set to see churn in 2024 with major leadership changes

Shaktikanta Das, governor of RBI and the chair of the Monetary Policy Committee (MPC), will complete his six-year term in December 2024. Das, who was first appointed in December 2018 for three years

Total amount of frauds reported by banks declines to six-year low: RBI

However, the number of frauds that were reported by banks have gone up from 7,263 frauds in 2020-21 to 13,576 in 2022-23

Uttar Pradesh govt invites bids for 100-acre fintech park in Noida

The fintech park, to be developed in Noida Sector 13, will encompass infrastructure amenable for the growth of financial services companies across the financial and allied value chain

RBI issues advisory to banks, financial cos to curb evergreening via AIFs

According to the RBI advisory, banks, NBFCs, and other financial institutions like Nabard and Sidbi will not be able to make investments in any scheme of AIFs which has downstream investments

Financial sector stocks, new listings take centerstage in November for MFs

The equity market witnessed a sharp rally last month. The benchmark Nifty50 rose by 5.5 per cent, the most since July 2022

Mumbai tops metros in reporting economic offences in 2022: NCRB data

India's financial capital Mumbai recorded 6,960 cases of economic offences in 2022, the highest in any metro city, according to the latest data released by the National Crime Records Bureau (NCRB). Cases of cyber crime also jumped in Mumbai to 4,724 last year from 2,883 in 2021, showed the data compiled by the NCRB, which is part of the Union home ministry. Hyderabad, with 6,015 cases of economic offences last year, was ranked second followed by Delhi (5007) on the third spot, as per the report. Among the total economic offences registered in Mumbai, 1,093 were of criminal breach of trust, whereas forgery, cheating and fraud cases stood at 5,855, it said. As per an analysis of the loss of property in metropolitan cities in 2022 due to criminal breach of trust, at least 18 cases were of amounts between Rs 10 crore and Rs 15 crore, 7 between Rs 25 crore and Rs 50 crore, 6 between Rs 50 crore and Rs 100 crore and one was above Rs 100 crore. In terms of registration of cyber crimes, .

Financial institutions told to strengthen fraud management system

The FIs consist of central banks, retail and commercial banks, internet banks, credit unions, savings and loan associations

High staff churn in India's financial sector to persist in FY24: TeamLease

"The demand for salespeople (selling personal, home, agriculture and other loans) is huge," said CEO for staffing at TeamLease

Financial stocks feel the pinch of RBI loan stance; Sensex falls 188 points

Sensex, Nifty decline intraday but finish with gains for a third week in a row

Hike in risk weights to affect banks' CAR by 60 basis points: S&P Ratings

The lending poses a risk for incremental nonperforming loans (NPLs). The increase in risk weights by the RBI is a prudent step, it said

UAE investors eye infra, education, food processing, fin sectors: Goyal

Investors from the UAE are keen to invest in different sectors in India such as clean energy, infrastructure, education, healthcare, food processing, and financial services, Commerce and Industry Minister Piyush Goyal said here on Thursday. He was in Abu Dhabi for the 11th meeting of the India-UAE High-Level Task Force on Investments. The airline sector holds a lot of promise for UAE investors in India as New Delhi is giving lot of thrust on travel and tourism sectors, he told reporters here. Investors are very very keen to invest in infra projects, education projects, healthcare and are looking at food and food processing in a very big way," the minister said. The UAE companies are also showing a lot of interest in financial services, he said. "I believe that in the days ahead, we will see significant flow of investments both in public markets and in the manufacturing and services sector," he said. Pharma, roads and highways, ports, other infra activities, clean energy, green ..

OECD urges India to pare govt ownership in banks, insurance companies

OECD advised the government to further increase the share of renewable energy by facilitating long-term investment in clean energy development projects

Beware of over-regulation

Regulation of unlisted firms must be rational, not reactive

Why small and microcaps are rocketing

The question on everyone's mind is, will this be sustainable? The answer is not simple

Many Indians' intent to buy insurance doesn't lead to action: Report

Consumers spend 11% of their annual income on life insurance and 8% on health insurance, it says

Private debt market in India set to grow more, says Standard Chartered

A growing list of global asset managers are setting up credit funds in India as they look to fill the funding gap, which was created after a shadow banking crisis spooked India's financial sector

Margin trends

Bank profits will moderate in coming quarters

SaaS and India's financial sector: A growth story

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Financial sector attracts bulk of FPI inflows in the first half of July

Meanwhile, chemical stocks saw selling worth Rs 207 crore, followed by metals and mining (Rs 157 crore) and textiles (Rs 156 crore)

Why can fintech sector ecosystem in India survive funding winter

The fintech space has witnessed a 60 per cent year-to-date slump in funding