Page 3 - Digital Banking

NITI Aayog senior advisor Anna Roy among top 30 fintech influencers

Roy has issued the recent report on Digital Banking by NITI Aayog, which has provided a template for the Digital Bank Regulatory Framework for India

Fintech leading India's banking revolution but it's hampered by old rules

The country's licensing policy for financial institutions is past its sell-by date. Innovative solutions are out there but require regulation.

Digital banking push turned into pull factor: Former SBI Chairman

Digitisation of banking services in India, which started as a "push", has now turned into a "pull" factor, State Bank of India's ex-Chairman Rajnish Kumar said

PNB to pick up 9.5% stake in Open Network for Digital Commerce Ltd

Open Network for Digital Commerce (ONDC) Ltd is being established with a mandate to develop an open network for digital commerce

NITI floats idea of full-stack digital banks, seeks comments by Dec 31

Government think-tank Niti Aayog on Wednesday proposed setting up of full-stack 'digital banks', which would principally rely on the internet and other proximate channels to offer their services and not physical branches, to mitigate the financial deepening challenges being faced in the country. The Aayog, in a discussion paper titled 'Digital Banks: A Proposal for Licensing & Regulatory Regime for India', makes a case and offers a template and roadmap for a digital bank licensing and regulatory regime for the country. Digital banks or DBs are banks as defined in the Banking Regulation Act, 1949 (B R Act), the paper said. "In other words, these entities will issue deposits, make loans and offer the full suite of services that the B R Act empowers them to. As the name suggests however, DBs will principally rely on the internet and other proximate channels to offer their services and not physical branches," it said. The paper noted that India's public digital infrastructure, ...

Digital transactions up 52% in festival season, says report

PayU registered a record high of 8 million transactions on a single day on October 3

RBI working group warns on digital lending by big tech players

The working group has recommended the formation of a nodal agency & SRO for digital lending apps

Buy now, pay later set to surge over ten-fold in India within four years

Redseer estimates India's BNPL market will rocket to $45-50 billion by 2026 from $3-3.5 billion now

JPMorgan takes on British rivals with launch of digital bank Chase

LONDON (Reuters) - JPMorgan is challenging British rivals on their home turf with the launch on Tuesday of its long-awaited digital retail bank, Chase, as part of what the U.S. lender hopes will be a global expansion.

Bank of Baroda's launches one-stop digital platform 'bob World'

State-owned Bank of Baroda on Wednesday announced the launch of its digital banking platform 'bob World', aimed at providing all banking services under one roof

IPOs of India's Paytm, South Korea's Kakao reveal Gen Z's banking vision

Internet-based businesses are raising funds at a record pace, making use of the boost given by the pandemic to all things digital

Think digital, think detail to drive growth

The big question is - how will NBFCs re-align to changing customer expectations, technology developments and growing competition?

Physical bank branches will continue to play key role in rural areas

Kotak Mahindra Bank Joint Managing Director Dipak Gupta said although retail customers have adopted phygital very fast, the non-retail customers are still dealing in cash.

NIIT, Axis Bank partner to launch digital banking academy

NIIT Institute of Finance Banking and Insurance (NIIT IFBI) and Axis Bank have launched a fintech professional programme to build future-ready professionals for the private sector lender.The programme offers graduates with zero to three years of experience an opportunity to join Axis Bank as a deputy manager (IT). NIIT said the programme is immersive in nature where the learners perform tasks of similar complexity as they would face in their role."We have been working with the industry for close to four decades and are focused on delivering training programmes in line with the emerging talent requirements of the industry," said Bimaljeet Singh Bhasin, President of skills and careers business at NIIT.NIIT Ltd is a global skills and talent development company, and a leading provider of managed training services.Axis Bank is the third-largest private sector bank in India offering an entire spectrum of services to customer segments covering large and mid-corporates, SME, agriculture and ..

ICICI Bank offers digital banking solutions to corporates, their partners

The bank aims to become the preferred banking partner for companies and their entire ecosystem

India offers huge potential for digital challenger banks, says report

But currency depreciation and local regulations are concerns for foreign investors: Report

Covid-19 second wave: Digital payments drop as state impose curbs

UPI saw a 4.3 per cent dip in transaction volume and a 2.22 per cent dip in transaction value

Covid-19 second wave: Digital payments drop as state impose curbs

UPI saw a 4.3 per cent dip in transaction volume and a 2.22 per cent dip in transaction value

ICICI Bank launches digital service for retail merchants, offers credit

Lender says it aims to provide services in 'one single place' to more than 20 million retail merchants.

Retail digital payments saw strong growth in FY21 over a year earlier

Data from RBI suggest there was a slowdown in wholesale transaction value, but volume growth withstood the pandemic