BS BFSI summit highlights: 'Data science can help pre-identify those vulnerable to cyber fraud'

Business Standard BFSI Summit 2024 highlights: Catch all the updates related to the BFSI summit here

3:48 PM

NBFCs are better equipped to adapt to recent developments: Shachindra Nath, MD, UGRO capital

It is not that we (NBFCs) have a better reach, we are better equipped to adapt to newer things, Shachindra Nath, MD, UGRO capital, said today

 

3:34 PM

ULI will be open to everyone: RBI Deputy Governor T Rabi Sankar

"Unified Lending Interface (ULI) will be open to everyone. Private sector can further innovate. ULI will do in the lending space what UPI has accomplished in the payments space," T Rabi Sankar said in his keynote address. 

3:18 PM

Regulators will have to decide best way to ensure all entities are well-behaved: RBI deputy governor

"Financial sector ensures that monetary transactions are smooth. Fintechs are largely tech-based. If they are in the space of lending, RBI will regulate it. Fintechs that are not handling funds will not be directly regulated but because they provide services to the financial sector, regulators will have to take a call on what is the best way to ensure that all the entities are well-behaved. We are engaging a lot more with fintech sector. Innovation must take place. We must not stifle it. There should be order in the market place," RBI Deputy Governor T Rabi Sankar said.

3:00 PM

Rate of growth of currency bills is slower due to prevalence of UPI, says RBI deputy governor

"UPI is a payment instrument that has caught the world's attention. We have not seen currency in circulation go down. However, the rate of growth of currency bills is slower," RBI Deputy Governor T Rabi Sankar stated today in his keynote address. 

2:55 PM

India well-equipped to tackle any volatility, says RBI deputy governor

"We are seeing a change in the government in the most powerful country in the world with Donald Trump coming in, so, there will be some impact. Beyond short-term volatility, the impact will depend on US decisions on import tariffs," RBI deputy governor said.

2:39 PM

BFSI update: RBI Deputy Governor T Rabi Sankar to deliver keynote address shortly

2:13 PM

BS BFSI Summit: MF CIOs flag market risks, stress need for diversification

A panel of mutual fund chief investment officers (CIOs) agreed that while some parts of the market are overheated, the broader outlook for Indian markets remains positive. Read here for more details.

1:54 PM

Pre-payment penalty is a challenge for us: Shriram Housing Finance's Ravi Subramanian

1:34 PM

December quarter will show whether consumption led growth has slowed or not: Abakkus's Sunil Singhania

It has been an election year, with an aggressive summer and a longer monsoon, everything has been back-ended. The December quarter will be the true indicator whether consumption led growth has slowed or not, says Sunil Singhania from Abakkus Asset Manager.

1:05 PM

News update: India provides confidence that it will continue to growi n the next 5-10 yrs, says Vikas Khemani

1:01 PM

It is difficult for developers to come up with affordable projects: LIC Housing Finance's T Adhikari

 "We need the builder community to come into the affordable housing segment and they need to have incentives and must come up with innovations as well," says T Adhikari of LIC Housing Finance.

12:31 PM

Rs 100 trn AUM? Just 3-4 years away, say mutual fund CEOs at BS BFSI Summit

During a discussion with Business Standard consulting editor Tamal Bandyopadhyay,  top leaders of India's mutual fund companies expressed confidence that it will take no more than three to four years for the industry’s assets under management (AUM) to reach Rs 100 trillion. Read here for more details. 

12:21 PM

Risk tolerance matters for an investor: SBI MF's Rajeev Radhakrishnan

"When speak about relative valuations on both asset markets, so I think for a normal investor today, would you really want to diversify? I think you need to, and possibly given where we are today in the rate cycle. A lot of fixed income products do provide value that gives you the diversification in your overall portfolio," Rajeev Radhakrishnan said. "Or the other approach could be to approach fixed income investments through the hybrid category or the balanced products. So these are the various options that you have. But at the end of the day, it's an individual choice. Whatever allocation that you are comfortable based on your risk tolerance, and your timeline, I think that really matters," Radhakrishnan added.

12:16 PM

Reach of mutual funds is growing: Mirae Asset's Mahendra Kumar Jajoo

12:03 PM

Several firms providing lofty guidance in the bubble zone: ICICI Pru MF's Anish Tawakley

"I run both a large cap and a small cap fund. If stocks fall 15% and people sell, then that is bubble zone.. but the market at large, is not in bubble territory. However, a lot of companies that are giving lofty guidance are in the bubble zone," says Anish Tawakley.