Page 7 - Financial Services

Fedbank Financial Services posts 25.12% growth in profit during Q2FY24

The Net Interest Income (NII) of the company rose by 29 per cent to Rs 207.30 crore from Rs 160.40 crore in the second quarter of the financial year 2023

Need to move towards data-based lending: Financial Services Secretary

Financial Services Secretary Vivek Joshi on Friday outlined the vision for 2047 and said financial institutions must move towards data-based lending, instead of judgement-based lending, in the medium-term. He said global Indian banks with a footprint across continents hold immense significance for Indian prowess and international influence as these serve as a conduit for foreign investment in the country. Speaking at the CII Global Economic Forum, Joshi said to exceed global average of per capita GDP by 2047, India's real GDP has to grow 7-7.5 per cent. "In the medium term, we must move towards data-based lending instead of judgement based lending especially for small business," Joshi said. He said there is a need to further deepen capital markets with active participation from diversfied investors. "In the context of robust financial services, it is imperative that in 2047, India will have a highly competitive viable banking sector with substantial indian ownership, universal acc

Nifty Financial Services, Nifty Private Bank: Avoid taking short positions

Consider booking profits on upward movements in Nifty Financial Services, suggests Ravi Nathani

Avoid mis-selling at banks, research before buying financial product

Rely on a fee-based advisor instead of bank relationship manager for investment advice

Fedbank Financial IPO to open on Nov 22 at price band of Rs 133 to Rs 140

Fedbank Financial Services provides loans to MSMEs and emerging self-employed individuals

GCCs to lease 62 million sq. ft. in India by 2025: CBRE Asia report

By 2025, it is estimated that there will be about 1,900 total operational GCCs in the country, up from the existing 1,580

Buy Nifty Financial near these levels to gain from a likely bullish upmove

Nifty Financial Services Index presents a bullish outlook, and traders are advised to closely monitor the resistance levels for potential breakout opportunities, said Ravi Nathani

InCred secures commitment to raise Rs 500 crore, to join unicorn club

Latest funding round values company at $1.05 bn

KFin Technologies launches compliance management platform Guardian

As per the financial services platform, Guardian will indentify unusual trends by monitoring overall trading patterns

M&M Financial Services banks on H2 recovery and strong valuations

In Q2FY24, net profit plummeted by 48 per cent Y-o-Y, while core profit before tax increased by 10 per cent Y-o-Y. This miss was largely due to higher provisions (up by 216 per cent Y-o-Y)

Equiniti India aims to hire 800 employees as part of expansion in India

Equiniti India, the offshore arm of Equiniti Group, currently has a total of about 1,500 employees in India across Chennai and Bengaluru

Motor Vehicles Act: DFS asks pvt insurance companies for compliance drive

The insurance companies were asked to encourage adoption of property/parametric covers to mitigate financial losses due to natural catastrophes

Nifty Financial Services: Look to buy the dips as index consolidates

Whereas, one needs to be patience and await for a clear breakout on the Nifty Private Bank Index, suggests Ravi Nathani, an independent technical analyst.

ChrysCapital bullish on future of tech, pharma and financial services

The firm worked closely with ManKind Pharma and ran an internal cost reduction program which saved them close to Rs 100 crores

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 ..

Banks, financial services behind 70% jump in greenwashing incidents in 2023

European financial institutions accounted for most of those instances, and much of the greenwashing involved claims about fossil fuels

ONDC to open its platform for fintech services like credit, insurance

In insurance, ONDC is starting off with three products - health insurance, marine insurance and motor insurance

Nifty Fin Services, PSU Bank: Time to ride the bullish wave, suggest charts

According to Ravi Nathani, an independent technical analyst, the Nifty Financial Services index could potentially rally to 20,975, while the Nifty PSU Bank index can gallop to 5,055.

Muthoot Fincorp Ltd launches all-in-one app for financial services

The application offers a wide range of services including MSME and gold loans along with investment in products like Digital Gold and NCDs

Nifty Financial Services exhibits bullish trend; buy near support levels

According to Ravi Nathani, an independent technical analyst, support levels are projected at approximately 19,525 and 19,425 for Nifty Financial Services index