Financial Products

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

Bessemer Venture leads $3.5 mn seed round for SaaS billing start-up Zenskar

Zenskar's flexible billing platform enables SaaS firms to handle usage-based pricing, subscriptions, nuanced discounts, credits, custom currencies, prepaid, post-paid, and ramp deals

Government approves 22nd tranche of electoral bonds; sale from October 1-10

Ahead of assembly elections in Gujarat and Himachal Pradesh, the government on Thursday approved issuance of 22nd tranche of electoral bonds that will open for sale on October 1. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. State Bank of India (SBI), in the 22nd phase of sale, has been authorised to issue and encash electoral bonds through its 29 authorised branches from October 1-10, the finance ministry said in a statement. The authorised SBI branches include those in Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai. Assembly election dates for Gujarat and Himachal Pradesh are likely to be announced in few weeks. The 21st tranche of bond sales took place from July 1-10, 2022. Sale of the first batch of electoral bonds happened from March 1-10, 2018. SBI is the only authorised bank

ADR vs GDR: Know the difference

A depositary receipt is a financial instrument that allows people to invest in the shares of foreign companies. In this report, we tell you about the different kinds of depositary receipts

Free products and services win customers, paid ones help sellers monetise

Try to save cost on mode of investing, but it is usually not wise to scrimp on the cost of advice

DMI Finance acquires wallet service provider Oxymoney's parent firm

Oxymoney plans rolling out pre-paid cards and expand its distribution network.

Revolut buys money transfer company Arvog Forex for undisclosed sum

The acquisition will strengthen Revolut's foundation in India and accelerate its plans to offer its remittance service and forex services to Indian customers

42% NBFCs expect over 15% growth in AUM in FY2022, says Icra survey

Around 42 per cent of non-banking financial companies (NBFCs) expect a growth of more than 15 per cent in their asset under management (AUM) in fiscal 2021-22, says an Icra Ratings survey.

Industry must make pricing of financial products transparent: RBI Dy Guv

RBI Deputy Governor T Rabi Sankar on Monday urged the industry to make the pricing of financial products and services transparent to minimise chances of mis-selling

NBFCs may see 7-9% growth in assets under management next fiscal: Icra

But access to funding would be crucial to have a sustained improvement, says a report

Either sell or advise, Sebi says investment advisors can't do both

SEBI has stipulated segregation of services. At present, advisers carry out both advisory and distribution services and there is no segregation.

MyMoneyMantra raises Rs 104 crore from Dutch investor, Vaalon Capital

MMM, which sells secured and unsecured loans, credit cards and insurance products, will issue convertible shares and use the proceeds to strengthen its technology, data analytics and expand its reach

Mis-selling of financial products: Bose panel suggestions remain relevant

Many of the recommendations made by the Sumit Bose Committee are yet to be implemented by regulators