Financial Services Technology

Agarwal Holdings buys Rs 455 cr land parcel from Shapoorji Pallonji Group

Land parcel is situated in Juhu, a prime Mumbai locality

PSBs urge CBI for timely FIR registration, regular updates on case progress

The Department of Financial Services (DFS) on Wednesday organized a coordination meeting on vigilance matters of PSBs

BS BFSI Insight Summit 2022: Irdai member Rakesh Joshi to speak at event

Joshi was made the head of a 15-member Health Insurance Consultative Committee set up by Irdai in October. He has more than 37 years of experience in the financial services industry

Variable capital firms to boost India's fund management space, says Sahoo

Such entities have a variable capital base as they issues and redeems shares on an on-going basis. With every issue or redemption, the capital base of the VCC changes

BFSI's share in India Inc's Q2 profits hits record high of 41.5%

The biggest gains came to banks, which reported a 35.8 per cent YoY growth rate in their combined net profit in Q2 FY23

Vehicle finance sector to return to pre-Covid level by Q2 next fiscal: CIFC

Murugappa group's financial services unit says bad loans are down and it expects AUM to grow 25% this financial year

Start-up LeverageEdu gets RBI approval for financial services unit

Company raised $22 million in funding in March earlier this year at a valuation of $120 million

IRCTC users to get cheaper AC class tickets through BoB credit card

The card will also get multiple benefits for shopping across other categories ranging from groceries to fuel

Walmart-backed payments firm PhonePe launches vehicle insurance service

Firm says users don't need to upload documents before making a purchase and they can view their policy documents instantly

Financial services becomes next battleground for PhonePe, Amazon and Google

Walmart-owned PhonePe has become the fastest-growing insure-tech distributor in India within just 9 months of the insurance category going live on the digital payments app

Investors stay bullish on fintech bandwagon

Deal activity in the financial services technology (fintech) space continues to remain strong, with start-ups announcing a fund-raise every second week. Since 2012, investors have pumped about $2.35 billion (Rs 15,000 crore) into fintech firms in 325 deals, says data platform VCCEdge. The bulk went into payments ($875 million, 109 deals), consumer finance/lending ($875 mn, 109 deals), and other small niches. The $2.35 bn includes the financial software space - Mphasis was acquired by Blackstone for $824.6 mn in April 2016. Even if one excludes deals in financial software, the fintech tally adds to $1.53 bn (Rs 9,800 crore) and this doesn't include SoftBank's $1.4 bn investment in Paytm.Why so? Why are investors bullish on fintech? That's because this is the next biggest space after e-commerce in India, says Anand Prasanna, managing partner at Iron Pillar, a venture growth investment entity. Amrish Rau, chief executive officer (CEO) at Naspers-owned PayU India, thinks investors feel ..