Financial Services

Thursday, Apr 25, 2024 | Last Update : 09:34 AM IST

PhonePe seeks to give users a simple, frictionless and secure platform to invest in insurance and mutual funds, the company said.

PhonePe seeks to increase user base with new insurance and mutual funds products

The Flipkart company hopes to become India’s most comprehensive financial services platform.

17 Aug 2020 7:53 PM

“Today various payments features exist across our apps, and we want to make sure decision making, execution and compliance are not fragmented,” Facebook said. “We want to be able to give people the ability to make a payment however they choose—debit, credit or Libra digital currencies.” (Photo | AFP)

Facebook carves out a unit focused on its financial payments businesses

Facebook Financial will handle management and strategy for all payments and money services across the Silicon Valley company’s platform.

11 Aug 2020 8:36 PM

Ola to layoff 1,400 staff as COVID-19 pandemic hits revenues. (PTI Photo)

Ola decides to downsize and "let go" of 1,400 employees

Revenues declined by 95 per cent in the last two months due to coronavirus pandemic

20 May 2020 2:25 PM

South Africa, India, Mexico, Tanzania and Uruguay were among the top countries that safeguard e-money via some sort of deposit insurance or protection. (Photo: File)

India among nations with most conducive environment for financial inclusion: Report

As per the report India, Colombia, Peru, Uruguay and Mexico have the most favourable conditions for inclusive finance.

31 Oct 2019 3:06 PM

If you are looking for help during your rainy days, these platforms will surely get you going. Check these services out for yourself – with your smartphone or otherwise – for more information.

Interesting financial products that will ease your life

A look at some of the most interesting financial products that can ease things during trying times

11 Sep 2019 6:54 PM

According to the report, strong investment activity in infrastructure and real estate asset classes drove the overall deal tally as there were USD 4.7 billion worth of mega deals in the infrastructure sector in July 2019. (Photo: Representational)

PE-VC investment in India zooms to all-time high of USD 8.3 bn in July: Report

According to EY's private equity deal tracker, July 2019 recorded investments worth USD 8.3 billion across 106 deals.

19 Aug 2019 2:49 PM

The UN trade report said the prospects for FDI inflows into South Asia are largely determined by expectations of growing investment into India.

India gets USD 42 billion FDI inflows in 2018: UN report

FDI inflows in developing countries in Asia registered a rise of 3.9 per cent to USD 512 billion during the last calender.

13 Jun 2019 9:06 AM

The survey revealed that medium-sized businesses will see a huge jump of over 5 per cent while large businesses will witness a growth of 2 per cent.

Financial services to add 47,800 new jobs in April-Sept FY20

Despite the setbacks seen in NBFCs, the financial services sector has shown a positive outlook in terms of hiring.

13 Jun 2019 8:47 AM

Self-help groups typically have limited and unpleasant access to credit and services

India’s war against its citizens’ financial exclusion

Distance from branch, unsuitable products, arcane language in documents and staff attitudes are some reasons for exclusion.

22 May 2019 6:40 AM

"One of the things that the banking sector uses is the POS, which right now is 2G enabled. In a couple of years, there will be no 2G in this country. There will only be 3G, 4G and beyond," Amit Yadav, joint secretary Department of Telecommunications said. (Representational Image)

Banks need to upgrade their PoS as 2G phases out: Telecom department

Institute for Development and Research in Banking Technologies unveiled a white paper on '5G Applications for Banking and Finance'.

13 Apr 2019 12:40 PM

The repository will help put a check on illicit deposit-taking activities that dupe the poor and the financially illiterate of their hard-earned savings. (Photo: ANI |Twitter)

Unregulated deposit ordinance creates central repository of registered firms: Kumar

President Ram Nath Kovind Thursday promulgated the Banning of Unregulated Deposit Scheme Ordinance.

22 Feb 2019 6:06 PM

The Uday Kotak-led IL&FS management, readying a turnaround plan for the debt-ridden shadow bank, is preparing a list of subsidiaries that could be wound up. The list, which will be submitted to the NCLT on October 31, will also feature the arms that could be revived.

IL&FS may sell financial services, energy arms

Uday Kotak’s lieutenant Raghunath is architect of the revival plan.

22 Oct 2018 9:24 AM

The company began operations as an NBFC in April 2017 with a focus on MSME and corporate finance.

Adani Capital to raise Rs 1,000 crore in growth capital in FY19

Company has so far raised Rs 35 crore through its maiden commercial paper issuance last month.

18 Sep 2018 11:41 AM

Indian equities have run well ahead of fundamentals and investors should book profits given the stretched valuations, says a Credit Suisse report.

Equity market running ahead of fundamentals, time to book profits: report

The Indian equity market is the only major market to have seen an expansion in price/earnings ratio.

16 Sep 2018 11:15 AM

India's economic growth is expected to moderate in the second half of this financial year after a strong first quarter, owing to tighter financial conditions, high oil prices and slowing global growth, says a UBS report.

India's economic growth to slow in second half of this fiscal: UBS

The Indian economy grew at a two-year high of 8.2 per cent in the April-June quarter of current fiscal.

10 Sep 2018 5:44 PM

India's e-commerce market is set to grow three times to surpass USD 100 billion by 2022 and may trigger over a million jobs in the coming years, a report said on Friday.

India's e-commerce market to surpass USD 100 billion by 2022: report

The e-commerce market is worth about USD 35 billion at present.

07 Sep 2018 5:50 PM

Prime Minister Narendra Modi launched a payments bank on Saturday to turn postmen into bankers so they can offer financial services to the poor in rural areas and boost digital transactions. (Photo: PTI)

Postmen to turn bankers with Modi's new payments bank

Modi has sought to end what he has called “financial untouchability” by giving millions of people access to banking services in India.

02 Sep 2018 12:42 PM

Asserting that the worst is behind for state-owned lenders, Financial Services Secretary Rajiv Kumar on Thursday expressed hope that the banks would come out of the Prompt Corrective Action (PCA) framework this fiscal.

Banks to come out of PCA framework by this fiscal: Rajiv Kumar

Various measures taken by the government including implementation of Insolvency and Bankruptcy Code has yielded good results.

16 Aug 2018 4:40 PM

Prime Minister Narendra Modi on August 21 will launch long-awaited India Post Payments Bank. (Photo: PTI)

Narendra Modi to launch India Post Payments Bank on August 21

IPPB will have at least one branch in every district and focus on financial services in rural areas.

05 Aug 2018 1:00 PM

Financial inclusion is the key to inclusive growth

Access to and integration into these networks enhances their productivity leads to shared prosperity.

30 Jul 2018 1:40 AM

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Dilip Cherian

financial services