Jio Payments to disrupt market with entry into soundbox segment :

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  Jio Payments to disrupt market with entry into soundbox segment : Jio Payments is set to enter what has been the domain of Paytm and PhonePe so far - the soundbox segment. Reckoned as a payments and audio verification device, Jio is all set to venture into the soundbox play across retail merchants.  The full-fledged launch is after 8-9 months of rigorous pilot launch of the soundbox across Reliance Retail stores. Initially, the device was tested across retail entities of the Reliance group in tier-2 cities and smaller metros such as Jaipur, Indore, and Lucknow. With this round of testing proving to be successful, Jio’s soundbox entered urban markets; albeit within the group’s retail outlets.  - Business Line.


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SBI, Bank of Baroda gets encouraging response for digital rupee

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Banking / Financial News at a Glance  🍒       SBI, Bank of Baroda gets encouraging response for digital rupee : Public sector lenders State Bank of India (SBI) and Bank of Baroda has received encouraging response from customers for the Central Bank Digital Currency (CBDC) or digital rupee. Country’s largest lender has recorded over 900,000 transactions from 400,000 lakh users since December 1 last year. The number of CBDC users for Bank of Baroda has reached 250,000. “The pilot of CBDC has been successful. We have 900,000 plus transactions from December 1 last year and have onboard over 40,000 merchants,” Balaji Rajagopalan, Chief Technology Officer, SBI said on the sidelines of banking conference FIBAC 2023 organised by FICCI. - financial express. 🍒       UPI can be moved to cloud network, says SBI MD : The Unified Payments Interface (UPI) application can be moved to public cloud network considering volume of UPI payments that are processed by th...
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HDFC Bank merger catalyzed loan growth, d the loan growth of the combined entity,

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  HDFC Bank's merger catalyzed loan growth, driving the loan growth of the combined entity, which triggered the need for the private bank to raise funds, said MD and CEO Sashidhar Jagdishan. “There is a need to mobilise sustainable deposits to replace the maturing bonds,” Jagdishan said at an investor conference hosted by Goldman Sachs on February 19. The bank’s deposit growth will not match loan growth overnight but will rather follow a glide path, he said. "We realise that we have preponed our loan growth and so we need a transition time to warm up the engine and raise sustainable funding which will substitute some of the bond maturity," said Jagdishan. He further stated that this will enable the bank to match its share of loans and deposits. Despite this transition, the bank aims to maintain financial stability and continue its trajectory of profitable growth, said Jagdishan. - moneycontrol.
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Paytm nodal account: Axis Bank to get “fee and float” boost

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  Paytm ready for all options for banks’ survival, including acquisition : One 97 Communications is resigned to losing its associate, Paytm Payments Bank , the entity at the centre of the crisis surrounding the fintech . However, it feels that if there is even a slight chance of its survival through an acquisition, then it is ready to take it. Sources said that the outlook for the bank looked bleak at the present, but there is still hope to eventually convince the regulator through ‘good behaviour’ to ease some restrictions. If the bank is given a chance to survive through acquisition, if there is a way for it to thrive, Paytm is willing for that to happen. Having worked hard to establish and create a thriving ecosystem, it wants the bank to continue to exist, even if it changes hands. - Business Line . 🍒           Paytm nodal account : Axis Bank to get “fee and float” boost : Axis Bank’s income will get a “fee and float” boost as One 97 Communicat...
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Bank of Baroda board to finalize tranche of debt instruments for affordable housing

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🍒     Bank of Baroda board to finalize tranche of debt instruments for affordable housing; stock trades flat : Shares of Bank of Baroda Limited traded flat, gaining a marginal 0.2 percent to Rs 198 in morning trade on November 16, extending gains for the seventh trading session in a row on the bourses. The company declared that the lender's capital raising committee will discuss and approve the issuance of debt instruments to raise tier I and tier II capital.  "The meeting of the capital raising committee of our bank is scheduled to be held on November 18 to discuss and finalize the issuance of Tier I and Tier II debt capital instruments and long-term bonds for the financing of infrastructure and affordable housing within the board-approved capital raising plan", the bank said in an exchange filing on November 15. - Moneycontrol. 🍒     UCO Bank seeks CBI help in Rs 820 crore money transfer mess : State-run UCO bank has sought the intervention of the ...
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RBI grants payment aggregator licence to Mswipe Technologies :

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 RBI grants payment aggregator licence to Mswipe Technologies : The Reserve Bank of India (RBI) has granted the payment aggregator (PA) licence to digital payments platform Mswipe Technologies, which joins the likes of Zomato, Decentro, Zoho, Juspay  and Razorpayto get the regulator's nod to offer the service. The licence comes almost two years after the company received an in-principle nod in the middle of 2022. "The payment aggregator licence solidifies the company's objective to enhance its suite of offerings while delivering secure, efficient, and user-friendly payment technology to banking partners, enterprises, and merchants across categories," the company said in a statement on February 19. - moneycontrol. 🍒           Religare Finvest case: Rs 400 crore diverted to Hong Kong via ICDs :  A money laundering investigation by the Directorate of Enforcement (ED) into Religare Finvest (RFL) has revealed that ₹400 crore was allegedly diverte...
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CAIIB Rural Banking Module A Unit 7 : Issues Concerning Rural Areas (New Syllabus)

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  CAIIB Rural Banking Module A Unit 7  : Issues Concerning Rural Areas  (New Syllabus) IIBF has released the New Syllabus Exam Pattern for CAIIB Exam 2023. Following the format of the current exam, CAIIB 2023 will have now four papers. The CAIIB Rural Banking includes an important topic called  “Issues Concerning Rural Areas ”.  Every candidate who are appearing for the CAIIB Certification Examination 2023 must understand each unit included in the syllabus. In this article, we are going to cover all the necessary details of CAIIB Rural Banking   Module A   Unit 7 : Issues Concerning Rural Areas ,  Aspirants must go through this article to better understand the topic,  Issues Concerning Rural Areas  and practice using our Online Mock Test Series to strengthen their knowledge of Issues Concerning Rural Areas.  Unit 7 : Issues Concerning Rural Areas Components Of Rural Development Rural development has several components such...
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MONEY EXCEL

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MoneyTap MoneyTap, essentially is a fintech lending company that offers quick personal loans in India. Shiv Nanda, a financial analyst, writes blogs for MoneyTap where he helps people understand the basics of financial planning, shares tips on money-saving, and offers ideas to break bad money habits to help you get on a path of financial success. Money Excel Through Money Excel, Shitanshu educates Indian consumers on the importance of financial planning and helps them excel in managing various financial products that involve personal finance, real estate, insurance, stock market, and more. Basunivesh Basavaraj Tonagatti manages Basunivesh, one of the best financial blogs in India. The blogs cover various topics on the basic problems people face in today’s financial world about insurance, investment, tax planning and more. JagoInvestor Founded by Manish Chauhan, Jago Investor shares valuable and important information about investment, tax planning, mutual funds, and money-saving. GoodRe...
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Theory of Probability

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  CAIIB Paper 1 (ABM) Module A Unit 6: Theory of Probability  (New Syllabus)  IIBF has released the New Syllabus Exam Pattern for CAIIB Exam 2023. Following the format of the current exam, CAIIB 2023 will have now four papers. The CAIIB Paper 1 ( Advanced Bank Management ) includes an important topic called  “Theory of Probability ”. Every candidate who are appearing for the CAIIB Certification Examination 2023 must understand each unit included in the syllabus. In this article, we are going to cover all the necessary details of CAIIB Paper 1 (ABM) Module A (Statistics  )   Unit 6 : Theory of Probability ,  Aspirants must go through this article to better understand the topic,  Theory of Probability  and practice using our Online Mock Test Series to strengthen their knowledge of Time Series.  Unit 6 : Theory of Probability Introduction To Probability Probability means chance/s or possibility of happening of an event. For example, suppose...
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Four PSBs may get approval to raise funds in H1 of FY25

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       Four PSBs may get approval to raise funds in H1 of FY25 : India may allow at least four state-owned banks to raise funds or expand their public float in the first half of the next fiscal year to accelerate their lending business and improve public participation, said people familiar with the development. The four lenders include Punjab National Bank (PNB), which is targeting a follow-on public offer (FPO) by September, and Central Bank of India, which is seeking approval for an offer for sale (OFS) to expand public float, the people said. An official and one of the persons cited above told ET that the government had received a proposal from the Central Bank of India to launch an offer for sale. The government currently holds a 93.08% stake in the state-owned lender. - economic times. 🍒         Finance Ministry aims to transfer stressed assets worth ₹1 lakh crore to NARCL by March 2024, says DFS Secretary Vivek Joshi : Finance Ministry...
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RBI changes loan rules: New norms likely to boost policy transmission, benefit existing borrowers, say experts

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  RBI changes loan rules: New norms likely to boost policy transmission, benefit existing borrowers, say experts Earlier, the spread charged to a borrower could be altered once every three years. The Reserve Bank of India’s (RBI) decision to allow banks to reduce the spread component on loans offered before three years will benefit existing customers and further aid monetary policy transmission , experts said. To benefit existing borrowers, the RBI, on Monday, said, “…the other spread components may be reduced by banks for a loan category earlier than three years for customer retention, on justifiable grounds, in a non-discriminatory manner, and in terms of the bank’s policy”. The new norms will take effect on October 1. Spread refers to the additional percentage that lenders add to the benchmark interest rate, such as the external benchmark rate or the marginal cost of funds-based lending rate (MCLR) by banks, when determining the final lending rate to a borrower. Banks typicall...
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