CATEGORIES

Economic Survey 2023: Indian economy to grow 6-6.8 per cent next fiscal year

India's economy is projected to slow to 6-6.8 per cent in the fiscal year starting April - still remaining the fastest growing major economy in the world - as extraordinary challenges facing the globe will likely hurt exports, the Economic Survey said.

Platform-as-a-Service (PaaS): A new Frontier

In the recent past, most of the IT oriented people were thinking that the cloud computing paradigm is only a Software-as-a-Service (SaaS) and Infrastructureas-a-Service (IaaS).

CHALLENGES AND FUTURE OF NEO BANKING IN INDIAN BANKING INDUSTRY - A WAY FORWARD

Neo Bank has acquired popularity recently as a result of its introduction into the financial technology market.

DIGITAL LENDING - A WAY FORWARD

Digital lending is the process of availing credit online. Its increased popularity amongst new-age lenders can be attributed to expanding smart phone penetration, credit range flexibility, and speedy online transactions. In the last few years, India has seen a massive disruption in the fin-tech space that has brought flexibility and the versatile digital customer experience in banking and lending. Additionally, the outbreak of COVID-19 has created a huge space for consumers and business enterprises to heighten the lending market growth. Digital lending has a larger opportunity in India and the total retail loan which could be distributed digitally till 2023 would be over $1 trillion. According to research work of Boston Consulting Group on consumer behaviour across purchase journey, 50% of loan seekers with internet access buy their loans online.

Neo-Banking: The Future Of India's Branchless Banking

Neo-Bank is a digital bank without having any physical branch network carried out business entirely through online mode.

IBEX India 2023 BFSI tech trends for collaborative banking

The year 2023 is an opportunity to predict what's in store for the future of banking.

ARR LEAVES LIBOR BEHIND

The London Inter-Bank Offered Rate (Libor) is an interest rate average calculated from estimates submitted by the leading banks in London.

Inflation - Concept, Causes & Control Measures

Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc.

Centrum, AWR Lloyd Join Hands to Offer Infra I-Banking Services

AWR Lloyd, a leading Indo-Pacific strategy consulting and corporate finance advisory firm, has announced its entry into India through a strategic partnership with Centrum Capital Limited, the Investment Banking arm of the diversified financial services organization, Centrum Group.

Door Step Banking - Opportunities And Challenges

Doorstep Banking [DSB] is one of the key action points of the roadmap for banking reforms under the EASE (Enhanced Access & Service Excellence) Reforms brought out by the Department of Financial Services, Govt of India. Initially it was meant to give service to senior citizens and person with disabilities.

PNB Signs MoU with Indian Air Force for 'PNB Rakshak Plus Scheme'

Punjab National Bank (PNB), nation's leading Public Sector Bank, has signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) to provide specially designed products to the defence personnel under the bank's flagship scheme of 'PNB Rakshak Plus'.

SBI Card Partners with Aditya Birla Finance to Launch 'Aditya Birla SBI Card'

SBI Card, India's largest pure-play credit card issuer, announced the launch of 'Aditya Birla SBI Card', a highly rewarding lifestyle credit card, in a strategic partnership with Aditya Birla Finance Ltd. (ABFL), the lending subsidiary of Aditya Birla Capital Ltd.

STAKEHOLDER CAPITALISM-NEW NORMAL

"Stakeholder Capitalism" is making headlines in economic and corporate world and the World Economic Forum has envisioned it to be the future of trade and investment. The concept which has transformed the purpose and goal of business and ensures that business serves society at large, gained momentum after Larry' Fink's (CEO Black Rock Investment) letter in 2018 to CEOs to make a positive contribution to society.

Of Self Help Groups And Financial Inclusion In Poverty Reduction

Financial inclusion, in its narrowest connotation, can be construed as an endeavour that provides people, especially those in the hitherto un-banked region, a bank account.

Now, Credit Cards Can Be Linked To UPI

The Resirve Bank of India said that credit cards will now be allowed to be linked to Unified Payments Interface accounts as UPI has become the most inclusive mode of payment in India.

E-RUPI

(A Prepaid Electronic Gift Voucher for specific purpose)

Bank Liable For Break-In And Theft From Locker

Gopal Prasad Mahanty and his daughter Rupali had been customers of State Bank of India's Bokaro Steel City Branch in Jharkhand for nearly four decades.

New Umbrella Entity: Ushering Payment Revolution

India has been on the cusp of a technological revolution driven by fintech companies.

A HOLISTIC APPROACH IN ASSESSMENT OF NON-FUND BASED LIMITS AND IT'S PRECAUTIONARY MEASURES

In assessment of the working capital of a borrower, banks shall consider the two types of facilities i.e. Fund based and Non-fund Based facilities.

BUSINESS CORRESPONDENT MODEL- UNDER FINANCIAL INCLUSION, ISSUES & STRATEGIES FOR MAKING ITA SUCCESS

Financial inclusion is a process of providing access to appropriate banking and financial products and services to the vulnerable groups in particular such as weaker sections, low income groups at an affordable cost.

UNION BUDGET 2022: IMPROVING ACCESS TO FINANCE

The Finance Minister of India, Ms. Nirmala Sitharaman presented the Union Budget 2022-23 ("Budget") on 1st February 2022.

STUDY OF PROJECT TECHNICAL FEASIBLITY AND ECONOMICAL VIABILITY

Banks are financing every type of advances.

RBI CIRCULAR

Framework for Geo-tagging of Payment System Touch Points

HAS THE WHEEL COMPLETED A FULL CIRCLE?

The above question has come to the foray, as the farm bills passed by the parliament has become an Act with the assent of President Sri Ram Nath Kovind.

FOREIGN CONTRIBUTION (REGULATION) AMENDMENT ACT 2020, GUIDELINES AND BANK PROCEDURES

The Government of India notified FCRA 2020(Amendment) and it came into effect from 29th September 2020 and has given strict enforcement and stringent penalties (including criminal consequences) for violations of the FCRA. Let us understand the rules for foreign contribution from its inception.

DEALING WITH UNCLAIMED BANK DEPOSITS

Unclaimed deposits are commonly defined as those deposits which are lying in accounts not operated for a period of 10 or more years.

IBC'S 2021 JOURNEY

Thought passed by the Parliament in May 2016, the Insolvency and Bankruptcy Act (IBC), picked up momentum only when RBI recommended 12 significant cases for IBC.

DOUBLING FARMERS INCOME-NEED OF THE HOUR

Agriculture and allied sector provides livelihood to 54.6% of the population of India (census 2011) and it contributes 17.80 % to the country's Gross Value Added (2019-20) as per Economic Survey 2020.

SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS)

The Special Purpose Acquisition Companies (SPACs)have been since 2003 in US but have been growing in popularity throughout the world due to number of reasons like growth potential of target businesses, time consuming process of traditional IPO, credibility of sponsor and availability of liquid securities in the post COVID-19 times.

REGIONAL BANKS' SECRET WEAPON FOR DIGITAL SUCCESS

Regional rural banks and credit unions often set themselves apart by offering personalised, community-oriented experiences their enterprise competitors can't. As financial services shift to a virtual-first dynamic, maintaining those connections is the key to winning and keeping customers.