Page 2 - Financial Sector

Financial sector reliance on big tech cos poses major risks: Axis Bank CEO

Companies providing software and other technology support like cloud services to the financial system are trickling down to a few, which can create major systemic risks later, according to a top banker. "Companies which are providing software, platforms and cloud systems to the banking and financial system are trickling down to a few," Axix Bank managing director and chief executive Amitabh Chaudhry said addressing an event on corporate governance. It was organised by ex-Sebi chairman M Damodaran's advocacy Excellence Enablers here on Thursday. Going a step further he warned that "the country's banking system now relies on two three big companies for their software service requirements, and this can lead to emerging risks in case these companies stop investing and ensuring that those platforms are adaptable to this new world". Chaudhry said such concentration is leading to pressure on the banking system to invest in technology in order to take care of the macro requirements. "We h

Tata Steel Q2 net profit down 87.3% to Rs 1,514 cr over decline in margins

Revenues from operations at Rs 59,877.52 crore was marginally down from Rs 60,387.13 crore in the year-ago period

Key role for banks in offering best intermediation services: RBI's Patra

Calls for world-class financial intermediation services with Indian economy poised to surpass Germany and Japan a few years and nation's population set to become world's largest and youngest

New issue pricing onus may put independent directors in a spot: Experts

Experts feel Sebi diktat may deter those with non-financial background from joining boards

NSE floats consultation on index components ahead of HDFC-HDFC bank merger

Currently, the entity getting merged is removed from the index and later the weightage of the merged entity is increased

American Express to start reporting card information to NeSL in November

Decision is in compliance with 2017 RBI circular asking financial creditors to submit financial information to an information utility under Section 215 of IBC

Strong rebound in BFSI funds makes a good case for taking an exposure

Since these funds can be volatile, limit your exposure to 5 per cent

Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC

Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman

China starts probing property executives for possible law violations

Chinese authorities said they were investigating at least four current and former top managers, including Xiamen C&D Real Estate Chairman Zhuang Yuekai, who is suspected of "serious" law violations

Re-examine financial sector architecture to build MSMEs better: Pronab Sen

According to Sen, the relationship between a bank and NBFC needs to be not of a borrower and a lender as it is today, but that of a partner

Azadi of the financial sector

Parts of the Indian financial sector have been liberated, and this has fuelled growth. The rest of the sector needs this now

Bank, auto, FMCG: Sectors on FPIs' radar as they turn focus back on India

The swing in favour of Indian equities comes after a brutal sell-off where FPIs sold equities worth Rs 2.56 trillion since October 2021

Rupee at 80: How top Indian companies hedged themselves for dollar

Reliance Industries, the Tata group, Bharti Airtel, Aditya Birla among conglomerates that took forward positions

Fitch revises outlook on domestic lenders to 'Stable', affirms IDRs

Action follows upgrade in outlook on India's Sovereign rating

Sanjiv Bajaj on financial sector reforms and growth estimates

In a chat with Business Standard's Nikunj Ohri and Arup Roychoudhury, the new CII president and Bajaj Finserv chairman Sanjiv Bajaj shared how to deal with global headwinds and increased input costs

Reserve Bank of India's latest norms won't be disruptive to NBFCs

Intend to narrow regulatory arbitrage between banks and shadow banks

IRCTC users to get cheaper AC class tickets through BoB credit card

The card will also get multiple benefits for shopping across other categories ranging from groceries to fuel

How did balance sheets become healthier?

Bank financing of firm investment has retreated in favour of equity financing

Fixing the financial architecture

An empowered, well-funded resolution authority is urgently needed to strengthen the financial sector

Morgan Stanley raises exposure to financials as slew of tailwinds surface

Financials are now the biggest overweight for Morgan Stanley followed by consumer discretionary and industrials