Page 2 - Financial Sector

Give top priority to regulatory concerns, redressal: FIDC to member firms

FIDC said adherence to all applicable laws and regulations at all times is a sine qua non. Specifically, norms relating to Know Your Customer (KYC) and Anti Money Laundering (AML) should be followed

BS Banking Annual 2024: Fintech has tough days ahead, say experts

Fuel for fintech growth has been an issue for some time now

Mukesh Ambani's Jio Financial Services market cap tops Rs 2 trillion

Market players expect Jio Financial, which also operates a payments bank and voice box, and other fintech players to benefit as Paytm will struggle to retain its merchants and customers

Regulators should respond fast to financial sector accidents: Uday Kotak

He said the scars of the past should not make regulators too conservative or cautious but there should be a better regulatory environment

An anatomy of financial sector reform

The Budget speech of 1991 changed the tone of reforms, but in the decades since, the pace has been more driven by scams and crises than by necessity, argues Rajrishi Singhal in his book

PNB Housing Finance offer limited period fixed deposit rates for 23 months

These interest rates are applicable on all new and renewed fixed deposits booked until March 31, 2024, with a minimum deposit amount of Rs 10,000

Shah Rukh Khan vs Sunny Deol in the battle for India's cement demand

Celebrities become the face of an industry evolving with rising demand and changing consumer patterns

A grand conspiracy or a massive scam?

The Union government has withheld MNREGS and PMAY funds -two centrally sponsored schemes - because of procedural lapses, alleged corruption

Sebi bats for higher flexibility in mutual funds, direct equity nominations

Proposes to give greater control to investors in terms of changes, additional inputs

RBI asks REs to review internal compliance tracking, monitoring processes

An appropriate monitoring mechanism may also be put in place to review the progress of its implementation, the RBI said

AU SFB appoints former RBI deputy guv HR Khan as non-executive chairman

The lender added that Khan's tenure will begin from the date of taking charge, January 30, 2024, after approval from the Board of Directors and from the RBI and shareholders of the bank

75% banks, NBFCs have chatbots, e-assistants: RBI's Michael Patra

Patra said that ensuring robust cybersecurity measures in banking organizations is imperative to maintain public trust in the financial system

Bajaj Finance Q3 results: Consolidated net profit up 22% at Rs 3,639 cr

The net interest margin continues to soften gradually on account of the lagged effect of the cost of funds increase, in Q3 FY24, BFL said in a statement

CMS Info Systems eyes buys in fintech, financial inclusion spaces

While scanning for inorganic growth opportunities, the company is also incubating some businesses like collections and logistics services for bullion

Funding winter shows signs of thaw but fintech industry is under scrutiny

The industry faces greater scrutiny and stricter governance norms

Health check for healers: The big audit firms are under the NFRA lens

Now, the national accounting watch­dog has turned the spotlight on audit firms themselves. These firms are perceived to be the eyes and ears of non-promoter investors

Future strategy is all about sustaining this growth: L&T Finance CEO

As far as retail growth is concerned, you would see the target was 25% growth, and we have consistently achieved more than 30% growth, he said

Financial sector set to see churn in 2024 with major leadership changes

Shaktikanta Das, governor of RBI and the chair of the Monetary Policy Committee (MPC), will complete his six-year term in December 2024. Das, who was first appointed in December 2018 for three years

Total amount of frauds reported by banks declines to six-year low: RBI

However, the number of frauds that were reported by banks have gone up from 7,263 frauds in 2020-21 to 13,576 in 2022-23

Uttar Pradesh govt invites bids for 100-acre fintech park in Noida

The fintech park, to be developed in Noida Sector 13, will encompass infrastructure amenable for the growth of financial services companies across the financial and allied value chain