Author: editor
India’s state-owned lenders were the best-performing bank stocks among peers in the Asia- Pacific region in the quarter ended Sept. 30, reflecting growing investor interest and stronger financials metrics. The data compiled by S&P Global Market Intelligence reported Indian Overseas Bank’s total returns rose 91.60% in the quarter, while Central Bank of India was in the second spot with a rise of 76.59%. Prashant Kothari, Senior Investment Manager, Pictet Asset Management’s emerging equities team, said, “India Inc. will offer a rich hunting ground for international investors looking to diversify their holdings. Indian equities received substantial foreign inflows in 2023, with…
One of India’s largest retail financing Non-Banking Finance company has successfully priced a USD 750 million Fixed Rate Senior Secured 144A / Reg S Bond for a 3.25year tenor. This deal marks the largest deal size by the company. This is the Company’s 8th successful USD public bond issuance since the relaxation in the ECB guidelines. Following a strong book build supported by high quality long only marquee investors, the Company was able to achieve highest tightening in the pricing by 37.5 bps. This also marks the tightest credit spreads over 3 year US Treasuries in our USD bonds. The…
Satin Creditcare Network Limited (“SCNL”), a leading microfinance institution in India, recently announced the appointment of Bhuvnesh Khanna as the President of its MSME wholly owned subsidiary, Satin Finserv Limited (“SFL”). Khanna joins the organization with a wealth of experience in various domains of banking including Investment Banking, Corporate Banking, SME Banking and Retail banking spanning over 25 years. Khanna has been previously associated with Kotak Mahindra, HDFC Bank, Deutsche Bank and HSBC. His most recent role was with HSBC where he held positions across multiple markets such as India, Hong Kong, Shanghai, Bangladesh and London. HP Singh, Chairman cum…
The fresh infusion of capital will enable TransBnk to bolster its product and technical teams, enhance its tech stack, and expand its product line. The company aims to reshape the management of specialized accounts and B2B payments, which are the foundation of lending ecosystems, capital markets, supply chain finance, and treasury management.
Capital Small Finance Bank and Max Life Insurance have announced their partnership to offer life insurance offerings to Capital SFB’s customers. Through this tie-up, Capital SFB will offer its customers with a range of savings, protection, retirement, and group life insurance plans of Max Life. Capital SFB focuses on middle income group customer segment, with special focus on rural and semi-urban areas, via an optimum ‘phygital’ distribution of their products and services. Prior to Max Life, Capital Small Finance Bank has also partnered with ICICI Prudential Life Insurance Limited and HDFC life insurance Limited to provide their life insurance products…
South Indian Bank announced the launch of flexible saving products for NRI customers today. NRIs can now enjoy the flexibility to either maintain deposits or the prescribed savings account minimum balance with these products. South Indian Bank has been on the journey of simplifying banking needs and providing best in class customer experience. The roll out of SIB SEAFARER and SIB PULSE for mariners and healthcare professionals are just the instances for the same. Murali Ramakrishnan, Managing Director & Chief Executive Officer (CEO), South Indian Bank, said, “It has been our constant endeavour to provide our customers with banking products…
This AI-powered platform will simplify banks’ complex technical environment and accelerate them from service-oriented architecture to the marketplace powered with cloud technology, Intellect said in the statement.
Worldline, a global leader in payments services, has joined forces with NPCI International Payments Ltd. (NIPL), the international arm of National Payments Corporation of India (NPCI), in a move to expand the acceptance of Indian payment means across Europe. As part of the partnership, Worldline will bring more convenience for Indian customers in the European markets by allowing merchants’ point-of-sale (POS) systems to accept payments from UPI, an instant real-time payment system, as well as RuPay, NPCI’s proprietary card payment network solution. This will result in a multitude of customer-related merchant benefits due to an increase in footfall and spending…
National Payments Corporation of India (NPCI) on October 10th launched NPCI Partner Program (NPP) with an intent to collaborate with various Technological Service Providers (TSP), Application Service Providers (ASP), and other similar entities in the industry. With program, NPCI aims to connect with innovative and important payments-oriented service providers. As per NPCI, this one-of-a-kind initiative will help in building new offerings that are better aligned with the needs and demands of the contemporary market. It added, it further aims to augment the retail payments ecosystem by bringing down the time to market. NPCI said the program will act as a knowledge sharing…
Bankers and non-bank professionals, share their opinion on how they are building their systems, topping it up with emerging technologies to strengthen their underwriting models.