Page 13 - Financial Services

Vivek Joshi takes charge as secretary of dept of financial services

Senior bureaucrat Vivek Joshi on Tuesday took charge as the Secretary of the Department of Financial Services (DFS) under the Ministry of Finance. Joshi replaced Sanjay Malhotra who is slated to take over as Revenue Secretary. Prior to this appointment, Joshi, a 1989 batch IAS officer of Haryana cadre, was the Registrar General and Census Commissioner under the Ministry of Home Affairs. DFS keeps a tab on the functioning of banks, financial institutions, insurance companies and the National Pension System.

Busiest week for IPOs this year with four offers set to hit market

The last time four IPOs had hit market was in Dec 2021; latest rush notwithstanding, year 2022 has been lukewarm for IPOs with sustained FPI outflows, spike in volatility, correction in broader mkts

RBI governor Shaktikanta Das cautions on backdoor entry in financial space

Although some number of complaints is expected from such a large financial system, the concerning fact is much of the complaints pertain to traditional banking

Xiaomi shuts financial services in India to focus on core business services

Xiaomi India said it will continue to bring the latest technology and innovation for all with "our products and services in the future"

What does demerger of the financial services biz mean for RIL shareholders?

Reliance Industries will demerge its financial services business and list as a separate entity. Will a fast-growing consumer and merchant loan book be enough to impress shareholders? Let's find out

After 5G, here's how Ambani will use financial services to tighten DNA loop

A successful fintech loans platform draws upon what the Bank for International Settlements calls a self-reinforcing "DNA loop," shorthand for data, network and activity

Insurance regulator Irdai proposes changes to reinsurance regulations

Seeks to revise order of preference while placing reinsurance business

Scale with proper capital allocation is critical: APAC Financial founder

We have built significant digital and physical infrastructure to cater to the credit needs of MSMEs (micro, small and medium enterprises) in the semi-urban and rural areas

Reliance Industries to demerge and list financial services business

Shareholders of RIL will receive one equity share of JFS of face value Rs 10 for one fully paid-up equity share of Rs 10 held in RIL.

Windfall tax impact: Reliance net profit flat in Q2 at Rs 13,656 crore

Bottomline misses estimates, net revenue jumps 37.3 per cent YoY to Rs 2.3 trillion; to list financial services arm

What are Digital Banking Units?

To ensure financial inclusion, banks are opening specialised branches to deliver digital banking products and services. These paperless branches are called digital banking units. Here's more

Financials, IT, energy see highest FPI selloff in last fortnight of Sept

The selling dragged the BSE Financial Services index by 4.7 per cent in the last two weeks of September.

Asha Ramanathan, new COO; Gayathri Parthasarthy, new FSS lead at PwC India

Asha is a qualified chartered accountant (CA), and Parthasarthy is a Financial Services industry veteran

Start-up LeverageEdu gets RBI approval for financial services unit

Company raised $22 million in funding in March earlier this year at a valuation of $120 million

Action against M&M Financial Services won't affect other NBFCs: RBI

Experts had pointed out that in light of these directions against one entity, recovery activities of NBFC sector could get impacted as a majority of NBFCs rely on outsourced agents for loan recovery

Can financial services be made bite-sized to deepen credit penetration?

Small can be more beautiful: Large-scale sachetisation of financial services may be just around the corner

Big Tech in financial system poses concentration risk: Shaktikanta Das

'Unbridled mushrooming of digital lending apps is a material concern'

Currency internationalisation: India pushes for rupee trade with Cuba

In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India

Women entrepreneurs face problem in obtaining business loans: Study

Majority of the women entrepreneurs face challenges in availing loan services from nationalised banks, according to a study. The study was conducted by Bharatiya Yuva Shakti Trust (BYST) and saw the participation of 450 women entrepreneurs from three cities -- national capital region, Chennai and Pune. During the study, it was also found that about 60 per cent of these entrepreneurs faced problems in accessing critical financial services. "Eighty-five per cent of women entrepreneurs faced challenges in availing loan services from nationalised banks," the study claimed. It was conducted during the course of a three-year BYST Women Entrepreneurship Development Programme to set up profitable businesses in Chennai, Pune, and Delhi-NCR. "Public sector banks are happy to welcome loan applications of BYST assisted, under-privileged entrepreneurs who are well-trained...and duly scrutinised by our expert panel before submission to the banks," Lakshmi Venkataraman Venkatesan, Managing Trust

Digital engineering taking lead in engineering R&D in India: Report

NASSCOM and Deloitte study calls for improving the ease of doing business and addressing concerns about patents