Financial Services

Financial Services News

Abu Dhabi seeks Indian investments, invites start-ups to establish hubs
World

Abu Dhabi seeks Indian investments, invites start-ups to establish hubs

Abu Dhabi has identified priority sectors including agritech, tourism, healthcare, pharma and financial services, where Indian enterprises can invest

Delhi HC seeks Centre, RBI stand on plea concerning accessible financial services for visually challenged
India

Delhi HC seeks Centre, RBI stand on plea concerning accessible financial services for visually challenged

The petitioner stated that his concern was not with respect to an absence of law to address access to financial services for the visually challenged but a lack of their implementation

BygC launches India’s first upskilling-focused community platform for banking and financial services
Business

BygC launches India’s first upskilling-focused community platform for banking and financial services

BygC has already been actively working towards providing highly employable skill-based training to freshers and professionals of the BFSI sector

Asian shares decline amid Omicron, anti-inflation measures from Federal Reserve, Russian-Ukraine jitters
World

Asian shares decline amid Omicron, anti-inflation measures from Federal Reserve, Russian-Ukraine jitters

The Dow Jones Industrial Average had declined more than 1,000 points before rallying and ending higher.

Facebook Fuel for India 2020: WhatsApp to launch insurance and pension products in India by year-end
News & Analysis

Facebook Fuel for India 2020: WhatsApp to launch insurance and pension products in India by year-end

The move comes as the Facebook-owned tech giant is set to expand its services to finance, commerce, education and social welfare in 2021.

Markets close day's session on buoyant note: Sensex up 622 points, Nifty above 9,050-mark; HDFC top gainer, surges over 5%
Business

Markets close day's session on buoyant note: Sensex up 622 points, Nifty above 9,050-mark; HDFC top gainer, surges over 5%

The Sensex settled 622.44 points or 2.06 percent higher at 30,818.61, while the NSE Nifty rose 187.45 points, or 2.11 percent, to end at 9,066.55

Nirmala Sitharaman launches INR-USD futures and options contracts on BSE, NSE; economic activity, employment to rise
Business

Nirmala Sitharaman launches INR-USD futures and options contracts on BSE, NSE; economic activity, employment to rise

The launch of INR-USD contracts at the exchanges in GIFT-IFSC is a step in this direction.

Yes Bank debt writedown to hit sector capital-raising; some investors plan to challenge central bank’s move: Analysts
Business

Yes Bank debt writedown to hit sector capital-raising; some investors plan to challenge central bank’s move: Analysts

Yes Bank had about Rs 8,800 crore ($1.2 billion) in AT1 capital as of March 2019, its annual report showed, under the Basel III framework.

Nearly 81% employers feel new income tax regime not to benefit staff; communication with employees to become biggest challenge: Survey
Business

Nearly 81% employers feel new income tax regime not to benefit staff; communication with employees to become biggest challenge: Survey

They also fear the new income tax regime will deter employees from taking up voluntary benefits from their employers, and this will force those drawing higher incomes to look for other investment options.

India retail banking a 'nice oasis' for foreign lenders Deutsche, HSBC, peers; easing regulations, surge in online deals drive change
Business

India retail banking a 'nice oasis' for foreign lenders Deutsche, HSBC, peers; easing regulations, surge in online deals drive change

Improved performance in India and its basis in the take-up of digital retail banking services could also offer hope for other large markets with potential far greater than the profit so far delivered, such as China.

Narendra Modi likely to meet finance ministry department officials on 20 June, plans to discuss roadmap for growth
India

Narendra Modi likely to meet finance ministry department officials on 20 June, plans to discuss roadmap for growth

Ahead of the Budget, Prime Minister Narendra Modi is likely to meet all five departments of the finance ministry on 20 June to discuss the road map for boosting country's growth and generating jobs.

IT firms likely to face volatility in banking, financial services space in near term: Kotak report
Business

IT firms likely to face volatility in banking, financial services space in near term: Kotak report

The banking and financial services space for IT firms is expected to be volatile in the near term, and escalation of trade wars in the past weeks combined with Brexit overhang may continue to weaken modest optimism of April 2019, says the latest report by Kotak Institutional Equities

Piramal Enterprises, Canadian pension fund set up $600-mn renewable energy trust; CPPIB to hold 60% in new venture
Business

Piramal Enterprises, Canadian pension fund set up $600-mn renewable energy trust; CPPIB to hold 60% in new venture

CPPIB has committed $360 million and holding up to 60 percent while Piramal Enterprises has committed $90 million and holding 15 percent.

Cognizant likely to cut jobs after slashing full-year growth outlook; Indian mid-level employees to get hit the most
Business

Cognizant likely to cut jobs after slashing full-year growth outlook; Indian mid-level employees to get hit the most

Cognizant will opt for job cuts as the firm’s headcount additions were not in sync with the revenue growth in the past two quarters

London top choice for Indian investors with record investments in 2018; UK firms eye tie-ups in fintech field: Report
Business

London top choice for Indian investors with record investments in 2018; UK firms eye tie-ups in fintech field: Report

The data analytics firm, which has an office in Mumbai and customers across India, said it will be scouting for new opportunities to explore collaborations and meet stakeholders in some of India's fast-growing fintech hubs.

RBI to issue guidelines on regulatory sandbox in next two months to promote innovation in fintech space: Shaktikanta Das
Business

RBI to issue guidelines on regulatory sandbox in next two months to promote innovation in fintech space: Shaktikanta Das

Pointing out some of the challenges, the governor said risks for fintech products may also arise from cross border legal and regulatory issues.

Up to 20% more women tipped to join workforce in banking, auto, IT sectors in 2019, says survey
Business

Up to 20% more women tipped to join workforce in banking, auto, IT sectors in 2019, says survey

India features among the lowest women workforce participation rates in the world, however, it is changing gradually, he said.

Indian finance companies two times more likely than US companies to spot frauds: Report
Business

Indian finance companies two times more likely than US companies to spot frauds: Report

For nearly 62 percent of the Indian firms, one of the major problems in fraud prevention and detection is that many solutions lack the flexibility to adjust in real time

Private equity, venture capital investments jump 50% y-o-y to $3.1 bn in October, says EY report
Business

Private equity, venture capital investments jump 50% y-o-y to $3.1 bn in October, says EY report

The total investments by private equity (PE) and venture capital (VC) funds in 2018 have gone up to $25.2 billion, only $1 billion short of last year's record inflows,

Narendra Modi to launch India Post Payments Bank on 1 September; to leverage reach of 1.55 lakh post office branches
Business

Narendra Modi to launch India Post Payments Bank on 1 September; to leverage reach of 1.55 lakh post office branches

The payment bank will be used by the government to distribute NREGA wages, subsidies, pension etc