Page 4 - Financial Services

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

Regulatory compliance important to stay ahead of fraudsters: DFS Secy

He stressed the importance of regulatory compliance to stay one step ahead of fraudsters in the industry

BS BFSI: Compliance doesn't impede progress, say financial services heads

BS BFSI Summit: While compliance requires significant investment, it does not impede industry progress, said CTOs and CEOs as they discussed the role of regulation in India

Bandhan Financial Services acquires Genisys Group, expands global footprint

The acquisition will help Bandhan Group expand its global footprint with new offices in the US, UK, and India, significantly enhancing its presence in these markets

Bumps on MFI road: Microfinance biz turns cautious as delinquencies rise

Business correspondents have helped deepen banking penetration in the nearly two decades they have been around. Can they play a role on the field for MFIs?

Vijay Naidu: From the Lanes of Maharashtra to the Forefront of Global Fintech Innovation

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On the table: FinMin to review public sector banks co-lending, MSME credit

DFS secy M Nagaraju to chair meeting on November 5

Microfinance institutions must refrain from reckless lending: DFS secretary

Microfinance institutions (MFIs) have played a crucial role in fostering financial inclusion but they should refrain from any reckless lending, Financial Services Secretary M Nagaraju said on Wednesday. "We should all be careful on this. Any reckless or poor underwriting norms regarding lending to Self Help Groups (SHGs) or Joint Liability Groups (JLGs) will only harm the sector," he said at an event organised by Sa-Dhan here. Anything that will impact their capacity to repay back will actually harm MFIs, he said. "So, we should be very careful in what we lend, when we lend and how we lend because their financial literacy is limitedtheir exposure to the outside world is limited. We should not capitalize on that. We should actually try to empower them, provide the needed finance and also ensure hand holding so that they flourish," he said. Nagaraju said under the SHG-Bank Linkage Programme, there are more than 77 lakh groups with Rs 2.6 lakh crore outstanding loans benefitting about