All posts by banking

Shiju Rawther is CIO, Poonawalla Finance

Reported by | Updated: July 7, 2020

Ponawalla Finance, a part of the highly diversified $13 billion Dr Cyrus Poonawalla Group, has appointed A Shiju Rawther as Chief Information Officer (CIO). Shiju has been with IIFL Finance as Executive Vice President – Technology. In his new assignment, he will be spearheading the IT function, strategies and designing the digital roadmap for the […]

POSP + Digital to Boost Insurance Sales

Reported by | Updated: July 6, 2020

Lucknow-based regional rural bank Aryavart Bank has adopted frictionless customer experience to onboard customers for insurance policies. Shiv Bajrang Singh, Chairman of the bank explains the salient aspects of this strategy: Mehul Dani: What is the total income from third-party insurance product sale in 2019-20? What is the number of life, general and health insurance […]

3D Strategy Digitization, Diversification & Data Science

Reported by | Updated: July 3, 2020

5paisa.com has a triple engine strategy to boost its velocity, and the results are showing: 5paisa.com is India’s leading diversified online platform for financial products, including equity, debt, gold etc. It is also one of the largest discount brokers in India. Technology is crucial for the firm and at every level it leverages technology to […]

IDBI Bank sells stake in insurance JV

Reported by | Updated: July 2, 2020

IDBI Bank has approved selling a 27% stake in IDBI Federal Life Insurance Co, its life insurance joint venture with Federal Bank and Belgium’s Ageas Insurance International to the two partners for Rs 595 crore. The bank will sell a 23% stake to Ageas and 4% to Federal Bank. The deal values the insurance company […]

SIDBI has a new DMD

Reported by | Updated: July 2, 2020

V. Satya Venkata Rao is the new Deputy Managing Director of SIDBI. He has taken charge recently. He has more than 29 years of experience in financial institutions like IFCI and HUDCO and has handled several departments including legal, human resources, corporate communications and worked as Central Public Information Officer and Appellate Authority under the […]

ICICI Bank introduces video KYC facility

Reported by | Updated: July 2, 2020

ICICI Bank now facilitates its retail customers to complete the KYC process through video interaction. The bank has, to begin with, made the facility available for new customers keen to open a savings account, including a salary account with the bank, or avail a personal loan from the bank. The facility is also available for […]

SIDBI sets up Swavalamban fund for MSMEs

Reported by | Updated: July 2, 2020

SIDBI is setting up ‘Swavalamban Crisis Responsive Fund’ to support free onboarding of MSMEs on Trade Receivables Discounting System (TReDS). Receivables Exchange of India, M1xchange and Invoicemart are the 3 TReDS platforms, which help MSMEs gain access to working capital through invoice discounting via multiple financiers. Mohammad Mustafa, CMD of SIDBI said the government has […]

Rupeeseed to offer its platform for traders

Reported by | Updated: July 2, 2020

Rupeeseed Technologies Ventures, a company engaged in developing solutions for retail and institutional trading, has decided to offer its trading platform to those who have been using the National Stock Exchange’s NEAT on Web (NoW) platform, which has been closed down recently. Rupeeseed said it will offer the platform at a reasonable rate to brokers […]

PNB helps MSMEs

Reported by | Updated: July 2, 2020

Punjab National Bank said it has sanctioned Rs 6757 crore in 296753 eligible MSME accounts under 300,000 crore Guaranteed Emergency Credit Line (GECL) out of which disbursements have been made to 59204 accounts amounting to Rs 2030 crore. On the occasion of International MSME Day on 27 June, S.S. Mallikarjuna Rao, MD & CEO of […]

Enriching Experience – Karthi Marshan

Reported by | Updated: July 1, 2020

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