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Date
07-10-2016
Heading
Remittances to India likely to drop 5% in 2016:
World Bank
07-10-2016
07-10-2016
07-10-2016
S.No
06-10-2016
06-10-2016
08-10-2016
06-10-2016
11-10-2016
10
12-10-2016
11
08-10-2016
12
13-06-2016
13
07-10-2016
14
07-10-2016
15
06-10-2016
16
08-10-2016
17
06-10-2016
18
05-10-2016
19
07-10-2016
20
08-10-2016
21
06-07-2016
22
08-10-2016
23
07-10-2016
24
28-09-2016
25
04-10-2016
26
19-09-2016
10-10-2016
12-10-2016
12-10-2016
12-10-2016
13-10-2016
Link
Summary
http://economictimes.indiatimes.com/articleshow/54741683.cms?utm_source=contentofinterest&u
Remittances to India are likely to see a drop of
5 per cent in 2016 at $65.5 billion due to
impact of declines in commodity prices on
resource-rich economies
The demand for developing countries'
exportsis limited by the slow recovery in
industrial economies and the impact of declines
in
commodity
prices
on
resource-rich
economies, while the benefits to many
commodityimportershave been eroded by
declining remittances, the report said.
http://economictimes.indiatimes.com/articleshow/54737503.cms?utm_source=contentofinterest&u
Private sector banks are likely to see about 5
per cent uptick in earnings while profit of stateowned lenders may drop 12.7 per cent for the
second quarter of this fiscal Continued asset
quality stress and focus on balancesheet health
would drive banks to make high provisions,
which could impact earnings," PNB,BOB,Union
bank of India which have aggressively
recognised stress loans over the last one year
may surprise positively on this front," it said.
http://economictimes.indiatimes.com/articleshow/54736951.cms?utm_source=contentofinterest&u
RBI cutes REPO rate by 25 BPS on 04/10/16 but
OBC has reduced it to only 15 BPS ,United Bank
of India has reduced MCLR rate by 5 BPS
http://economictimes.indiatimes.com/articleshow/54725593.cms?utm_source=contentofinterest&u
The government, looking to get state-run IDBI
Banks stalled disinvestment plan moving
again, has instructed the lenders management
to bring its stake down to 52%.The Centre
currently holds 73.98% and has not announced
any capital support to the bank for this fiscal.
IDBI Bank already has shareholder approval to
raise Rs 8,000 crore of capital, Managing
Director Kishor Kharat told ET.
http://economictimes.indiatimes.com/articleshow/54722833.cms?utm_source=contentofinterest&u
RBI cutes REPO rate by 25 BPS on 04/10/16 but
KOTAK MAHINDRA BANK has reduced it to only
10 BPS ,CANARA Bank of India has reduced
MCLR rate by 5 BPS
http://economictimes.indiatimes.com/articleshow/54720559.cms?utm_source=contentofinterest&u
Use of digital banking to open bank
accounts.Mobile phone users can also open
accounts provided KYC formalities are met
http://www.financialexpress.com/industry/banking-finance/festival-offers-galore-on-banks-loan-prod
Waiving
of
processing
fees,concessional
interest rate,EMI holiday schmes by various
banks on various products
http://www.financialexpress.com/markets/indian-markets/uco-bank-to-raise-rs-270-crore-via-share-s
State-owned UCO Bank today said it will sell
7.17 crore shares to LIC on a preferential
basis.With the preferential share allotment, LIC
stake in the bank will increase by 5.5 per cent.
Currently, insurance companies, including LIC,
holds 12.02 per cent stake in the bank.
http://economictimes.indiatimes.com/articleshow/54786643.cms?utm_source=contentofinterest&u
During times of falling rates, customers borrow
for about two-three years and refinance it at a
lower rate subsequently to save on finance
costs thats why Stung by high cost of funds
when demand for loans is at the weakest in
nearly a decade, state-run banks, which used
to rely on long-term fixed deposits, are
increasingly not accepting any fixed deposit
beyond five years
http://economictimes.indiatimes.com/articleshow/54809415.cms?utm_source=contentofinterest&u
Govind Singh, MD & CEO, Utkarsh Micro
Finance said, the fresh funds raised will be used
to expand business, particularly in introducing
new banking products. The investment will take
care of capital requirements for the next 3-4
years.
ICICI Securities & Avendus Capital were the
financial advisors to the company whereas BMR
Legal was the legal advisor.
http://www.businesstoday.in/money/banking/rbi-repo-rate-cut-will-your-emis-go-down-substantially
RBI cutes rate by 25 BPS on 04/10/16 but ICICI
has reduced it to only 5 BPS
http://www.businesstoday.in/money/banking/all-you-must-know-about-virtual-cards-for-safer-e-trans
Now with increasing instances of hacking, there
is a fear your data may be misused or sold. It's
in such instances that virtual cards come in
handy.
http://www.financialexpress.com/industry/banking-finance/south-indian-bank-q2-net-rises-18-per-ce
At the same time, Gross non-performing assets
(NPAs) of the bank rose to 3.96 per cent of the
gross advances as of September 30, as against
2.24 per cent a year ago.Net NPAs or bad loans
were 2.77 per cent of the net advances, up
from 1.39 per cent a year ago.
http://www.financialexpress.com/industry/banking-finance/south-indian-bank-q2-net-rises-18-per-ce
The NBFC has been set up with the acquisition
of Flexiloans Technologies, which operates the
technology-based
financing
platform
FlexiLoans. The initial loan book of the NBFC
will be Rs100 crore.
http://www.financialexpress.com/industry/banking-finance/canara-bank-kotak-bank-cut-lending-rate
State-owned Canara Bank, Indian Bank and
private sector Kotak Mahindra Bank today cut
lending rates by up to 0.1 per cent, following
the 0.25 per cent repo rate cut by the RBI
http://www.business-standard.com/article/finance/recoveries-to-be-higher-says-pnb-116100700948
Bank says most of the work on recoveries is
happening on the field, covering SME and retail
sectors, PNB's gross non-performing assets
(NPAs) rose to Rs 56,654.09 crore (13.75 per
cent) as on 30 June 2016 from Rs 25,397.42
crore (6.47 per cent) as on 30 June 2015.
http://www.financialexpress.com/industry/banking-finance/rbi-issues-operational-guidelines-for-pay
MFIs and NBFCs that have obtained permission
to set up small finance banks should be given
three years to close or convert their existing
branches into banking outlets to facilitate an
orderly transformation, an RBI panel suggested
today. RBI granted in-principle approvals to 11
entities for setting up payments banks (PBs) in
August 2015 and 10 for Small Finance Bank
(SFB) in September 2015
http://www.financialexpress.com/industry/banking-finance/rbi-to-continue-with-easing-next-cut-in-f
A day after the monetary policy committee
(MPC) debuted with a surprise 0.25 per cent cut
in rates, analysts today said the Reserve Bank
will continue with the accommodative stance
but the next action can come only in the
February review.
http://www.livemint.com/Companies/iV8CpgfaUdOkUAS2ZwrFaN/State-Bank-of-India-may-sell-up-to
The stake sale to private equity investors will
help SBI set an indicative price for the eventual
initial public offering
http://economictimes.indiatimes.com/news/economy/indicators/fico-lenddo-to-develop-credit-score
FICO, a global credit rating agency, has
partnered with Lenddo, an expert in credit and
verification technologies, to develop a credit
risk score for consumers in India. It will give
lenders improved certainty around the risk
assessment of people with 'thin-files' those
who don't have enough data in their credit
report to score.
http://www.bnpparibas.co.in/en/2016/07/06/bnp-paribas-named-worlds-best-bank-in-euromoney-aw
http://timesofindia.indiatimes.com/city/indore/Fintech-City-gets-CM-approval/articleshow/54750403
Chief minister Shivraj Singh Chouhan on Friday
gave the nod for developing a Fintech City on
Super Corridor that is expected to provide jobs
to around 75,000 people.
https://yourstory.com/2016/10/flexiloans-funding/
On
Friday,
lending
platform
FlexiLoans
announced raising funds of Rs 100 crore from
industry stalwarts Sanjay Nayar, CEO, KKR;
former head of ops and technology at Citibank,
Vikram Sud; Chief Investment Officer at HDFC
Bank, Anil Jaggia; and ex-MD of KPMGs
advisory business, Narayan Seshadri
https://yourstory.com/2016/09/fintech-india-fragmented/
The chart at the End is worth a look
http://www.econotimes.com/SBI-and-Indias-premier-educational-institution-sign-MoU-for-fintech-col
SBI has been working in multiple modes to
promote innovation and collaboration with
fintech companies. Its wider programmes
include ideation, incubation, experimentation
and commercialization of new technologydriven products and services for the banking
sector.
https://www.yesbank.in/media/press-releases/fy-2016-17/yes-bank-partners-with-fintech-startup-ni
NiYO features an integrated solution comprising
of a Multi-Pocket Card, a Mobile App and a
digital account with multiple wallets. Under this
partnership, YES BANK along with NiYO has
rolled out the YES BANK NiYO Benefits Card
that makes it easy for organizations to give
employee benefits, and for employees to claim
the benefits.
http://www.firstpost.com/business/india-is-at-worlds-centre-stage-more-than-ever-before-but-curren
http://economictimes.indiatimes.com/news/economy/finance/uae-exchange-eyes-universal-bank-lic
Money transfer company UAE Exchange is
accelerating disbursal of loans to agriculturists
and small traders in an effort to clock lending
of Rs 1,000 crore to the so-called priority sector
that will enhance its position when it applies for
a universal bank licence again.
https://e27.co/ahead-of-diwali-india-bitcoin-startups-unocoin-zebpay-and-coinsecure-mine-new-inve
With the highest remittance rate in the world,
India might have the perfect storm of expertise
and demand to become a strong hub for Bitcoin
and blockchain-based tech
http://www.newindianexpress.com/business/2016/oct/12/startup-procurement-norms-not-relaxed-completely-1527095.html?
Startups are unlikely to get the benefit of the relaxation
clause for the prior experience and turnover criteria with
respect to procurement of goods that have implications on
public safety and health.
http://techcircle.vccircle.com/2016/10/12/anupam-mittal-rajan-anandan-kunal-shah-ratan-tata-zishaan-hayath-among-top-an
angels and seed funds continue lending a hand to earlystage companies. Angel and seed deals shrank by a mere
8% compared to an almost 38% drop in both VC and PE
deals in the January-September period this year,
business Today
Mint
Sanjay Nayar
Mr. Narayan Keelveedhi Vikram Sud: 30 years
Member & CEO of KKR Seshadri, CA serves as of
international
India
the Chairman and Chief banking
experience
Executive
Officer of doing
product,
Halcyon Resources and business, technology
Management Pvt. Ltd. &
operations
management
roles
across both corporate
& consumer banking
in India, Asia & the
US.
Another private sector Oriental Bank of Commerce, United Bank cut lending rate by up to 0.15 p
lender Karur Vysya Bank
announced
reduced
MCLR rate by 0.35 per
cent
on
various
maturities
CW - News Updates
Sr No.
1
Date
13-09-2016
Heading
The state of fintech in India
12-10-2016
Banglore
based
startup
MoneyTap offers instant credit
in 6 taps; heres how
12-10-2016
13-10-2016
Chartered
Accountant
Established
Career
SMEs/MSMEs !!!
13-10-2016
13-10-2016
06-10-2016
11-10-2016
Fund Providers
Left
His
to
Help
Link
http://www.livemint.com/Industry/LByMUFBJDIKzfG5SW9cRZI/The-state-of-fintech-in-India.html
Banglore based startup MoneyTap offers instant credit in 6 taps; heres how
https://yourstory.com/2016/10/adhil-shetty-bankbazaar/
http://bwdisrupt.businessworld.in/article/Chartered-Accountant-Left-His-Established-Career-to-Help-SMEs-MSMEs-/20-08-2
http://techcircle.vccircle.com/2016/10/12/exclusive-online-lending-platform-ziploan-raises-seed-funding-led-by-growx/
http://techcircle.vccircle.com/2016/10/07/fin-tech-startup-co-floated-by-former-housing-com-cfo-joins-hands-with-nbfc-vetera
http://www.thehindubusinessline.com/money-and-banking/fullerton-may-add-2025-branches-in-the
http://economictimes.indiatimes.com/articleshow/54786721.cms?utm_source=contentofinterest&u
http://www.investmp.com/gis-2016-overview
Summary
The chart is worth a look in it
Genre
Date
Heading
Link
http://www.financialexpress.com/industry/companies/ridesafe-to-locus-how-this-startup-moved-from-womens-safety-to-help
http://economictimes.indiatimes.com/articleshow/54803013.cms?utm_source=contentofinterest&utm_medium=text&utm_ca
Summary
Nishith Rastogi and Geet Garg, both former employees of Logistics
Amazon Web Services, had designed a geo-tracking app,
RideSafe, for womens safety in February 2015. However, they
were pleasantly surprised when food tech companies started
adopting RideSafe to monitor the movement of their delivery staff.
Industry