BFSI Summit 2024 highlights: RBI's caution against unsecured lending is appropriate, says KV Kamath

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

5:09 PM

At the moment, distributors have the data; companies need to be in control of their own data, says KV Kamath

Today if you look at certain products which are third party driven, distributors are the ones who control the data. With technology coming to the fold, companies should have access to their data, or else they will be in jeopardy, KV Kamath said today.

4:56 PM

Would not be too worried about FII outflows: KV Kamath

"I would not be too worried about FII outflow. I would be looking at corporate earnings as a key," KV Kamath said.

4:43 PM

Action taken by RBI against players in NBFC sector was absolutely warranted: KV Kamath

"There has been a cautioning to lenders to figure out the end use of the money being lent to customers. RBI should be commended for their actions," senior banker KV Kamath said today. 

4:40 PM

RBI is right to caution against unsecured lending: KV Kamath

Unsecured loan money is being used in the F&O market, former chief of the New Development Bank KV Kamath, said.

4:36 PM

Savings are being financialised due to technology: KV Kamath

"With the advent of technology, access to financial products has become simple. Earlier, this was not possible," KV Kamath said.

4:05 PM

Not being invested in the market is also risky, says Devina Mehra

"When things are little uncertain, it doesn't makes sense to move out of the market. The risk in staying invested is that you can lose some money but there's also a risk in not being invested,"  says First Global's Devina Mehra.

4:03 PM

There can be a correction but there won't be a sustained crash: Devina Mehra

"In 2010-2020 period, we compounded at just around 8.5 per cent, which was similar to what FDs delivered. This below-par performance created the base for the post-covid bull run, says First Global's Devina Mehra.

3:44 PM

If Trump raises tariffs, it could lead to inflation across the world: Samiran Chakraborty, MD, Citibank

"If Trump raises tariffs, and those tariffs turn out to be more inflationary for us, then RBI will not have a choice but to respond to it. Also, it will be a common inflationary trend across the world. So, most central bankers in other countries will also probably not have a choice but to respond," Samiran Chakraborty said at the panel discussion.

3:30 PM

Need to engage more with customers, says Future Generali's Alok Rungta

3:19 PM

Removal of GST on insurance premiums will help with better penetration, says Mayank Bathwal

"It is important to bring in affordability, and the removal of GST on insurance premiums will help with better penetration," Aditya Birla Health Insurance's Mayank Bathwal stated. 

3:13 PM

Hike in rates happens usually in sync with other central banks: SBI's Soumya Kanti Ghosh

"Events such as pandemic, US elections, and geopolitical tensions, have shown that trade will be a casualty when disruptions happen. In terms of rate cut decisions, we can say that they are specific to individual countries. However, rate hikes happens usually in sync with other central banks," says Soumya Kanti Ghosh. 

2:59 PM

Growth and inflation dynamics will supersede what's happening globally: ICRA's Aditi Nayar

"Growth and inflation dynamics will supersede what's happening globally. Food dominates our perception of inflation -- this is driven by local factors. RBI has cut the rate by only 50 basis points but US Fed cuts rate more sharply. There is no point trying to match them," says Aditi Nayar. 

 

2:51 PM

Rural demand has been lifting FMCG growth: CEA Anantha Nageswaran

Rural demand has been lifting FMCG growth, an example would be that all categories of the auto sector have seen growth year-on-year leaving the urban demand behind, Anantha Nageswaran said. States can choose to prefer one sector over the another but a country as a whole cannot choose one over the other,  Nageswaran stated.

2:40 PM

BFSI update: Comfortable with 6.5-7% GDP estimate, says CEA Nageswaran

2:30 PM

Should not over interpret the market reaction to Donald Trump's win, says Anantha Nageswaran

"In the financial sector, it is too early to attribute the rise in stock markets to the results of the US elections as the momentum was already in place before the results," says CEA Anantha Nageswaran.