India’s Financial System

IndusInd Bank-like incidents not failures but episodes: Guv Malhotra

RBI is working to ensure frequency of such occurrence is less, he said

Building the bonds of Viksit Bharat: A leap towards India's vision

Budget reforms will redefine the financial system by fostering inclusion, competition, and efficiency. Financial institutions will benefit from enhanced market depth and improved liquidity

Not easy to make Brics draft on international payment systems work

Brics's demand to reform the present financial system and global institutions and attempts to develop different payment mechanisms will get suitable support

RBI Governor Das cautions against tech-led disruptions in financial system

Matrix of financial stability at its best, challenge is to improve, says Das

Paytm to invest Rs 100 cr in GIFT City to build global financial ecosystem

Fintech firm One97 Communications, which owns Paytm brand, plans to invest Rs 100 crore in Gujarat International Finance Tec-City (GIFT City) to build a global financial ecosystem, the company said on Wednesday. The company will make the investment over a period of time and will seek requisite approvals for the same. "GIFT City is set to become a global financial hub, further putting India on the world map for innovation. The strategic investment in GIFT City represents a pivotal step towards building an Artificial Intelligence-driven cross-border remittance and payments technology landscape, presenting global opportunities. This will enable us to deliver fast, reliable, and cost-effective remittance solutions, reducing friction, at a global scale," One97 Communications Founder and CEO Vijay Shekhar Sharma said in a statement. With GIFT city as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new tech for users across the

India, US reaffirm pledge to fight illicit risks in global financial system

India and the US recently co-chaired the 'US-India Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Dialogue'

Cloud-lending startup Lentra launches 3 AI products for financial sector

The company launched AI products, namely Lentra Convo, Lentra Insights, and Lentra Wingman, to serve lenders with solutions that enhance the lending processes

Fintech lending rises over 31% to Rs 29,875 crore, says FACE report

9 companies accounted for 81% of total disbursement made by 36 companies that are members of Fintech Association for Consumer Empowerment

Best of BS Opinion: Stressing stability, freebies in a prosperous state

Here is the best of Business Standard's opinion pieces for today

Indian banks insulated from US, Swiss crises: RBI governor Shaktikanta Das

Greater acceptance among G20 about crypto regulations, says FM

SVB crisis: CII bats for domestic financial ecosystem to support startups

With several domestic startups facing the heat due to the collapse of Silicon Valley Bank, CII President Sanjiv Bajaj on Monday said that India could look to create its own enabling financial ecosystem to support budding entrepreneurs. Talking about the startup sector, the CII President in an interview with PTI said it is an unusual sector where the normal banking parameters do not work. "It (startup sector) is a very high growth, it is very innovative, it is loss-making in the initial years. So, the normal banking parameters for lending don't really work. How do you create the right financial ecosystem in India to support startups because we are a startup nation," said Bajaj, who is also the Chairman and MD of Bajaj Finserv. Observing that India is the third largest startup ecosystem in the world, he said there is a need to encourage startups. "We have the entrepreneurial zeal, we have the technical capability and the enabling ecosystem for it, but finance is something that is ...

Govt revamps Banks Board into Financial Services Institutions Bureau

Guidelines for selection of general managers and directors of public sector general insurance companies have been made part of FSIB

RBI may have boosted forwards intervention to slow rupee fall, save reserve

The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April

DeFi can't hold a candle to the centuries-old trust-based system hawala

Decentralized finance needs to give up on its techno-anarchist utopia, and get more real and centralized. Otherwise DeFi lending will enter annals of finance as failure where hawala has been success

India's financial system well cushioned amidst pandemic: RBI report

Banks' gross NPAs may jump to 8.1-9.5% by Sept 2022 from 6.9% in Sept 2021, says RBI in financial stability report

Interpretation of ARC maladies

Regulatory oversight and supervision of ARCs need a revamp and, like other regulated entities, rogue ARCs should be punished

Why RBI is concerned about Equitas SFB's new scheme for Google Pay users

The RBI is weighing carefully if this could eventually lead to a backdoor entry of Big Tech in the Indian banking system

Google Pay will always partner with existing financial system: Biz head

Sajith Sivanandan also dwells on instances where certain offerings have been reported as 'Google Pay's offerings', fueling misinterpretation

Statsguru: Seven charts explain India's tryst with cryptocurrencies

Bitcoin, which commands more than $50,000 on any exchange today, was founded anonymously in 2009

Constitutional challenges to a complete cryptocurrency ban in India

The need then is to regulate, not ban, experts say