Financial Sector

Near term fraught with uncertainty but if history is a guide fundamentals could drive a recovery, says the brokerage

RBI deputy governor M Rajeshwar Rao emphasises on meaning engagement beyond account opening

Overall bank exposure to NBFCs as share of total bank credit declined in 2023-24, which bodes well for overall financial stability, according to the Reserve Bank of India

The increasing integration of Artificial Intelligence and Gen AI with the financial sector has the potential to foster innovation and transform the banking sector in the coming years, SBI Chairman C S Setty said on Friday. Setty also said the rising digital economy and its influence on the Indian banking sector can be gauged from the range of digital products that the banks offer today. "The growing interest in Artificial Intelligence, Gen AI and its integration into financial sector has the potential to drive further advancements, fostering innovation, efficiency and resilience for benefit of the financial sector... There is a continuing need for the banks to strengthen their risk management standards, business arrangement and customer onboarding to check unscrupulous activities," Setty said at an event organised by The Institute of Chartered Accountants of India (ICAI). Further, he said with the advent of technology-based banking products and the growing use of these products by .

Will we see a new trend with the sector shedding its skin and transforming itself? Or, will the theme of the year remain continuity with change?

With the right blend of policy support, technological advancements and customer-centric strategies, India's financial sector is ready to play a pivotal role in the nation's journey toward sustainable

Two public sector banks, Punjab National Bank (PNB) and Indian Bank, will welcome new leaders at the start of the year as their current incumbents retire on December 31, 2024

India's financial sector, dominated by public sector banks in 1991, had been long repressed by rigid controls on interest rate

Earlier this year, Axis Bank's board of directors approved the proposal to acquire Max Life shares

Chief Economic Advisor V Anantha Nageswaran on Wednesday said there is a need to differentiate between regulation of financial and non-financial sectors as competition in financial sector can lead to excessive risk taking and bring instability. "We do need to make a distinction between regulation with respect to financial sector and regulation with respect to non-financial sector of the economy," Nageswaran said at the CII Global Economic Policy Forum 2024. He said in non-financial sector, except in case of natural utilities where one needs a regulator to protect customer interest, competition or market forces will take care of what the regulators do. In financial sector, regulators have the tendency to lean towards excessive regulations, as if things go wrong in this sector the state is expected to bail out and the effects are systemic. " In financial sector, competition sometimes leads to excessive risk taking and competition can be a source of instability rather than stability,

Financial Services Secretary M Nagaraju on Tuesday said public sector banks will unveil new products in the next few months to improve credit growth. "We are actually committed to enhancing, and we want to push as much credit as possible because we have a huge number of young people," he said while addressing the Financial Inclusion and Fintech Summit organised by CII here. Public sector banks are going to launch new products in the next 3-4 months to push credit for all sectors, including MSME, he said. Over the last few years, the government has already taken multiple steps to improve credit availability to small borrowers, including announcing a new credit model in the Budget to lend to borrowers with no previous financial records. Though the banking sector is robust, Nagaraju said rising digital frauds are posing a risk to financial sector stability, and banks should focus on addressing this challenge. Both digital innovations and financial literacy will help mitigate this, he

Four key positions will become vacant over the next four months, marking a potential reshuffle by the end of the current financial year

Global players are involved in about 65 per cent of BFSI leasing activity in India

The velocity of the selling was so high that barely any sector was spared. However, metals and utilities still managed marginal inflows

Plans to employ over 200 people in Mumbai by the first half of 2025

With 1059% growth, India's AA ecosystem is the fastest growing open finance ecosystem in the world

Goal is to balance effective regulation with fostering financial innovations in a safe, robust and trustworthy ecosystem, the RBI governor said

Overall Indian financial sector remained insulated from the global outage

The downside in Bajaj Finance, Bernstein said, was because much of the positives are priced into the stock's rich valuations

The fund raise is closely on the heels of a previous transaction where the company raised $404 million