Page 9 - Financial Services

BFSI Insight Summit 2022: WATCH DAY 2 LIVE

India’s biggest BFSI event is back. Watch the leaders of BFSI address the most pressing questions of the industry

BFSI Insight Summit 2022

India’s biggest BFSI event is back. Watch the leaders of BFSI address the most pressing questions of the industry.

Finance sector suffers from 'hyperactive regulatory activity': M Damodaran

Speaking at the summit, the former bureaucrat added the need for specialised talent in the regulatory bodies, ranging from lawyers to accountants and auditors

KFin Technologies IPO subscribed 0.70 times on Day 2, issue closes Wed

Financial services firm provides services and solutions to asset managers and corporate issuers

BS BFSI Insight Summit 2022: Irdai member Rakesh Joshi to speak at event

Joshi was made the head of a 15-member Health Insurance Consultative Committee set up by Irdai in October. He has more than 37 years of experience in the financial services industry

Sum total of all your EMIs should not exceed 40% of your net income

Make sure buying a house will not lead to compromises on other crucial financial goals

G20 mulls converting its global infra hub into a multilateral body

Currently, the GIH's work is limited to acting as a knowledge sharing hub, to produce data and insights that inform policy and infrastructure delivery

CoinSwitch to foray into wealth tech, launches new logo, mobile app

CoinSwitch is expected to launch its new products by 2023 to become the first Indian crypto company to diversify into other asset classes

KFin IPO to hit market on Dec 19, issue sized reduced to Rs 1,500 cr

Financial services platform provides solutions to asset managers and corporate issuers

Abans Holdings IPO registers 28% subscription on second day of offer

The Initial Public Offer (IPO) of Abans Holdings, financial services arm of the Abans Group, was subscribed 28 per cent on the day two of offer on Tuesday. The IPO received bids for 35,27,260 shares against 1,28,00,000 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) was fully subscribed, while the category for Retail Individual Investors (RIIs) received 23 per cent subscription and non-institutional investors 13 per cent. The IPO of up to 1.28 crore equity shares has a fresh issue of up to 38 lakh equity shares and an offer for sale of up to 90 lakh equity shares. The offer has a price range of Rs 256-270 a share. Proceeds from the fresh issue will be utilised towards investment in its NBFC subsidiary, Abans Finance, for financing the augmentation of its capital base to meet future capital requirements and for general corporate purposes. The company operates a diversified global financial services business, providing Non-Banking Financial .

One in two urban Indians investing more post Covid: DSP MF-YouGov Survey

45% respondents raised their investments as pandemic forced a rethink on financial health, 23% slashed it due to pay cuts, fall in risk-taking capacity, uncertainty in business and job loss

We Founder Circle announces 2 angel funds for early-stage start-ups

Mumbai-based We Founder Circle has in 23 months invested in more than 70 start-ups

Curb on securitising short-term maturity loans may hurt micro loan biz

Change required by the central bank could make a certain portion of loan books ineligible for securitisation

Variable capital firms to boost India's fund management space, says Sahoo

Such entities have a variable capital base as they issues and redeems shares on an on-going basis. With every issue or redemption, the capital base of the VCC changes

Eye on maximum value, lenders say no to Reliance Capital liquidation

"Lenders will decide on the further course of action, including the stance for negotiations on Friday," the source said

Reserve Bank of India issues framework for Indian banks' foreign biz

The framework also specifies the applicability of these instructions to International Financial Services Centres in India, including Gujarat International Finance Tec-City

Reserve Bank of India, Japanese regulator hold talks on clearing houses

Dialogue on clearing houses come after CCIL derecognition by ESMA, BoE

RBI pauses onboarding of online merchants by Paytm Payments Services

Banking regulator RBI has put a pause on onboarding of online merchants by Paytm Payments Services, even as the company said it will have no material impact on its business, according to a regulatory filing. One97 Communications (OCL), which owns the Paytm brand, had proposed to transfer the payment aggregator services business undertaken by it to Paytm Payments Services (PPSL) in December 2020 to comply with payment aggregator (PA) guidelines of the Reserve Bank of India (RBI) but the banking regulator had rejected its application. The company had re-submitted the required documents in September 2021. Paytm said PPSL has now received a letter from RBI in response to an application for the authorisation to provide PA services for online merchants. As per the letter, PPSL is required to "Seek necessary approval for past downward investment from the company into PPSL, to comply with FDI Guidelines" and "not onboard new online merchants". Paytm, in the regulatory filing, said it can

Paytm Payments to reapply for authorisation of payment aggregator service

Ahead of that, the company will seek necessary approval for past downward investment from One97 Communications Ltd (OCL) into PPSL, to comply with FDI guidelines

RBI permits banks to open 12 special vostro accounts for trade in rupees

So far, not a single overseas trade transaction directly involving the rupee has taken place