Page 5 - Financial Services

Can financial services be made bite-sized to deepen credit penetration?

Small can be more beautiful: Large-scale sachetisation of financial services may be just around the corner

Big Tech in financial system poses concentration risk: Shaktikanta Das

'Unbridled mushrooming of digital lending apps is a material concern'

Currency internationalisation: India pushes for rupee trade with Cuba

In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India

Women entrepreneurs face problem in obtaining business loans: Study

Majority of the women entrepreneurs face challenges in availing loan services from nationalised banks, according to a study. The study was conducted by Bharatiya Yuva Shakti Trust (BYST) and saw the participation of 450 women entrepreneurs from three cities -- national capital region, Chennai and Pune. During the study, it was also found that about 60 per cent of these entrepreneurs faced problems in accessing critical financial services. "Eighty-five per cent of women entrepreneurs faced challenges in availing loan services from nationalised banks," the study claimed. It was conducted during the course of a three-year BYST Women Entrepreneurship Development Programme to set up profitable businesses in Chennai, Pune, and Delhi-NCR. "Public sector banks are happy to welcome loan applications of BYST assisted, under-privileged entrepreneurs who are well-trained...and duly scrutinised by our expert panel before submission to the banks," Lakshmi Venkataraman Venkatesan, Managing Trust

Digital engineering taking lead in engineering R&D in India: Report

NASSCOM and Deloitte study calls for improving the ease of doing business and addressing concerns about patents

Financial inclusion through fintechs

By helping to eliminate information asymmetry across the user journey, fintech has made the equitable distribution of financial services easier. This ensures better inclusivity.

SEBI bans Wishworth Financial Services from securities market for 4 years

Sebi on Friday barred Wishworth Financial Services and their proprietors Pankaj Khanchandani and Dheeraj Kapoor from the securities markets for four years and directed them to refund the money collected through unauthorised investment advisory services. A complaint filed on October 24, 2017, had alleged that Wishworth was offering financial investment plans with assured returns. Pursuant to the receipt of the complaint, Sebi conducted an examination in the matter and thereafter issued a show cause notice dated January 20, 2022 to the noticees. The regulator found that the noticees -- Wishworth and their proprietors -- were engaged in the business of providing investment advice to their clients for consideration and thus acting as investment adviser. They were involved in such investment advisory activities without obtaining a certificate of registration from the regulator, which is in violation of the provisions of Investment Adviser (IA) rules, the Securities and Exchange Board o

Kotak Securities buys investment platform for advisors, MF distributors

Over 2,300 distributors use the FundExpert Fintech platform to manage mutual fund portfolios worth over Rs 15,000 crore

New ODI regulations: Govt allows investment in financial services abroad

Holding less than 10% in an overseas entity not considered 'control'

Indian employees likely to see bigger salary hike in 2023, says report

Some of the sectors which have been included in the survey are- financial services, banking, and technology, media and gaming

PwC India completes acquisition of Venerate Solutions Private Ltd

Venerate builds and deploys customised solutions on the Salesforce platform across multiple clouds including financial services cloud, salesforce marketing cloud, etc

Infosys Finacle inducted in IFSCA regulatory plan for blockchain finance

Six leading banks are collaborating with trade finance solution for short-term credit, import payments

Rural fintech firm Jai Kisan raises $50mn as debt, equity in funding round

Startup says it will use the financing to expand product suite and improve customer experience

FSIB recommends former Union Bank of India MD for post of NaBFID MD

The Centre, earlier this month, transformed the Banks Board Bureau into FSIB and expanded the headhunter's role to suggest appointments for PSU banks, insurance companies and financial institutions

Global BPM player WNS acquires enterprise automation firm Vuram for $165 mn

Founded in 2011, Vuram has 900 employees at various locations in India, US, Mexico, Australia, Canada, and UK

Big tech firms offering financial services pose risk to stability: RBI

Big techs can scale up rapidly and pose risk to financial stability, which can arise from increased disintermediation of incumbent institutions, it noted.

Decoded: The tizzy over RBI's ban on loading PPIs from credit lines

PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them

Support Agniveers after tenure completion: FinMin to PSBs, insurance firms

Post the announcement of the scheme protests have erupted across several states with the Opposition slamming the centre for hastily drawing up the plan

eMudhra sets IPO price band at Rs 243-256 per share, sale to open on May 20

Digital signature certificate provider eMudhra Ltd on Monday said it has fixed a price band of Rs 243-256 a share for its Rs 413-crore Initial Public Offering (IPO).

Share India Securities Q4 PAT jumps over two-fold to Rs 76 crore in Q4FY22

It registered 52 per cent rise in its revenue at Rs 294.82 crore for the January-March quarter of FY22 from Rs 194.35 crore in the same period of previous fiscal