Page 7 - Financial Services

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

Telangana has highest per capita income among all Indian states: MoSPI

Based on constant prices, Haryana topped the list with a per capita income of Rs 1,81,961 in 2022-23

Elon Musk pursues financial services in wake of rivals' failed attempts

US tech companies have struggled in their attempts to take on banking behemoths, often scaling back their ambitions in the face of competition and protracted approval processes

TCS bags deal from BBC for finance, procurement, payroll management

Tata Consultancy Services (TCS) on Thursday said it has bagged a deal from British Broadcasting Cooperation (BBC) to change their finance, procurement and HR applications management. The company will leverage AI-driven human-machine collaboration suite, TCS Cognix in the multi-year partnership, the company said in a BSE filing. "TCS will also provide application management and change delivery services for the broadcaster's application estate supporting the finance, procurement and HR functions," the statement read. Amit Kapur, Country Head, UK and Ireland at TCS, said that the partnership will "strengthen TCS' position as a leader in delivering transformative business services to the media and entertainment industry". The Indian IT services giant has been operating in the UK for 45 years and tops software and IT services supply in the region in revenue terms. It employs 21,000 people in the UK and Ireland, making it among the region's biggest IT employers.

'Expedite loan sanction, disbursement for projects under Rs 10,000-cr UIDF'

Financial Services Secretary Vivek Joshi on Monday asked officials to expedite sanction and disbursement of loans to eligible projects under Rs 10,000-crore urban infrastructure development fund (UIDF) announced in Budget. The early sanction and disbursement will help create better infrastructure in Tier 2 and Tier 3 cities, he said at an event organised to mark the 35th anniversary of National Housing Bank (NHB). Finance Minister Nirmala Sitharaman in her 2023-24 Budget speech announced the setting up of UIDF through the use of priority sector lending shortfall for the creation of urban infrastructure in Tier 2 and Tier 3 cities. Mid-tier cities still face the challenge of urban planning and funding for their urban infrastructure and ensuring planned development. Keeping these challenges in mind, UIDF has been launched with an initial corpus of Rs 10,000 crore to supplement efforts of the state governments by providing stable and predictable source of finance for creation of urban

Instant line of credit, industry networking top priorities of MSMEs: Survey

The majority of micro, small and medium enterprises (MSMEs) feel the instant line of credit and industry networking are the top requirements in the financial services and non-financial services category, a survey said on Monday. Over 55 per cent of the total MSMEs interviewed said an instant line of credit is their top requirement to accelerate everyday business decisions, as per the 'MSME Sentiment Survey' by fintech Kinara Capital. In addition, 16 per cent of respondents favoured flexible repayment products that will give them the choice to make daily or weekly loan payments or variable loan payments, based on their business turnover for the selected time period, it added. "There is a growing acknowledgement of the importance of MSMEs and unlocking this sector's full potential will require a personalised approach. Our survey gave MSMEs an opportunity to vocalise their challenges and needs. "It is a sign that India's small business entrepreneurs are now seeking much more than acce

Integrated financial services platform airpay now live on ONDC: Report

Integrated financial services platform airpay on Thursday said it has gone live on the Open Network for Digital Commerce (ONDC). This will enable airpay's vyaapaaris to have access to an array of local businesses offering multiple products and services on ONDC to consumers, it said in a release. Presently, airpay vyaapaaris offer banking and financial services to more than 60 million consumers in 561 districts and over 7,000 villages in 36 states and union territories, it said. "Given the democratised nature of an Open Network, it levels the playing field for small and medium enterprises. ONDC also enables increased trade of locally manufactured goods and local sellers, thereby multiplying the investment and production of MSMEs," Kunal Jhunjhunwala, Founder and Managing Director of airpay, said. The company said the initiative will enable ONDC to understand and implement key consumer and partner learnings. Thampy Koshy, Managing Director and Chief Executive Officer of ONDC, said t

Aditya Birla Capital Q4 results: Net profit rises 35% to Rs 609 crore

Consolidated total revenue from operation rose by 21.2 per cent to Rs 8,025 crore for the March quarter as compared to Rs 6,617 crore in the year-ago period

Aditya Birla Capital to consider raising of funds; board meeting on May 11

The board of directors will also consider and approve the audited standalone and consolidated financial results of the company

RIL gets nod from shareholders, creditors to demerge financial services arm

RSIL will be renamed Jio Financial Services Ltd (JFSL) and RIL shareholders will receive one share of JFSL for each share they own

Here are 5 ways finance companies are trying to de-risk heat waves

To meet this problem, some financial service providers have started to offer instruments aimed at reducing personal and economic risk associated with heat waves