Page 3 - Financial Services

What global finance must do to fight digital fraud across sectors

Fraud methods have become sophisticated, challenging traditional detection systems

Payment aggregators push back against Juspay Tech's orchestration

Delays, token access hurdles spark industry opposition; open-source move under scrutiny

Tata Capital raises Rs 1,500 crore from Tata Sons, IFC via rights issue

The company will use the proceeds for further lending and to improve its leverage ratios

Bajaj Finance names Anup Kumar Saha as MD, Rajeev Jain becomes VC

Saha joined Bajaj Finance in 2017. He has served 25 years in the financial services industry, of which 14 years were with ICICI Bank and 11 years with non-bank entities

Financial services adoption increases with more women participation

The survey was conducted across 10,000 agents in the country, recording financial transactions of women consumers

Neobanking startup Zolve secures $251 million funding in equity, debt mix

The company has about 750,000 users and was launched in 2021

Perfios acquires debt recovery platform, second acquisition in a month

The inorganic push comes as the company plans to complete its value chain in financial offerings in the business-to-business (B2B) sector from underwriting to debt recovery

BNP Paribas leases office in Mumbai's BKC for Rs 811 per square feet

The French financial services firm will pay a total rent of Rs 28.36 lakh per month

Have 5-6 portfolio firms planning IPOs: ChrysCapital's Sanjay Kukreja

The common thread is backing grounded founders who are hands-on and have a relentless focus on execution

India tops global private capital exits with $27.9 bn in 2024: GPCA report

Notable exits in 2024 included EQT and Temasek selling O2 Power to JSW Neo Energy for $1.5 billion, Swiggy raising $1.3 billion via an initial public offering (IPO) and providing exits to 360 ONE

Financial services firm Navi appoints new CEOs as part of leadership rejig

Sachin Bansal steps down as Navi CEO; to serve as executive chairman of the group

Business correspondents to undergo digital audit, new training models

New audit envisages banks using digital technologies like video-based interviews, geo-tagging technology, and transaction-based controls, committee to be headed by top SBI official

Regulations in financial services key to ensuring customer protection

The new generation requires speed, convenience, completeness of transactions, and continuous support

Bajaj Finance, Bharti Airtel join hands to create fintech platform

NBFC firm Bajaj Finance and Bharti Airtel on Monday announced a strategic partnership to create a digital platform for financial services. The one-of-a-kind partnership brings together Airtel's customer base of 370 million, about 12 lakh strong distribution network, and Bajaj Finance's diversified suite of 27 product lines, and distribution heft of 5,000 more branches and 70,000 field agents, a joint statement said. Airtel will initially offer Bajaj Finance's retail financial products on its Airtel Thanks App for seamless and secure customer experience, and later through its nation-wide network of stores, it said. The combined strength of the companies' digital assets will enable Airtel and Bajaj Finance to significantly deepen penetration of financial products and services, it said. Gopal Vittal, vice chairman and MD, Bharti Airtel, said, "today, we are trusted by over 1 million customers and our vision is to make Airtel Finance a one-stop shop for all the financial needs of our .

NCLAT restores IFIN's claim in Attivo with 39% vote share in lenders' panel

The National Company Law Appellate Tribunal (NCLAT) has restored claims worth Rs 593 crore of IL&FS Financial Service (IFIN) along with its voting rights in the committee of creditors in the ongoing insolvency resolution process of Attivo Economic Zones. Earlier the interim resolution professional of Attivo Economic Zones, a part of Kolkata-based Srei Infrastructure Finance (SIFL) and in the business of developing managing and marketing industrial parks, had on September 12, 2023, rejected the claims of the IL&FS group entity. IL&FS challenged this before the NCLAT which said it had already passed an earlier order "not permitting collapse of the Agreement with regard to Attivo Economic Zone (Mumbai)". Hence, "the very basis of issuing of letter dated 12.09.2023, rejecting the claim of IFIN is knocked out", said a two-member bench of the NCLAT which also consisted of Chairperson Justice Ashok Bhushan and Member (Technical) Barun Mitra. "The letter dated 12.09.2023, issued ..

Recovery agents are in demand as banks' unsecured loan stress rises

In July 2024, the total strength of outsourced staff in the BFSI (banking, financial services, and insurance) space was 77,000, out of which 6,000 were recovery agents

Insurance penetration ratio has a long way to go, says WWB's Kalpana Ajayan

Initiatives like Jan Dhan Yojana and Jan Suraksha have significantly boosted women's participation in financial services

Best Tribal Loans Direct Lender Guaranteed Approval for Bad Credit and No Credit Check

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Fintechs go retro: Companies bet on fixed deposits to boost topline

Companies offer up to 9.5% interest rate per annum on fixed deposits

GST fitment committee set to review 18% tax on co-lending services

Under the co-lending model, NBFCs are required to retain a minimum of 20 per cent of individual loans on their books, while the remaining balance is held by banks