Bank

HDFC Standard Life Insurance Q4 FY18 review: Premium valuations to sustain

It has been estimated that India has nearly 17 percent of the world’s population but when it comes to protection gap, it is huge. As it is India accounts for less than 1.5 percent of the world’s total insurance premium and inspite of the growing insurance market in the country, India is still both under-penetrated and inadequately insured. A transformation ... Read More »

IDBI Bank to close loss-making branches, limit NPAs and focus on retail to get out of PCA: Deputy MD

IDBI Bank hopes to come out of the regulatory restrictive Prompt Corrective Action (PCA) after taking a host of measures, including closure/merger of branches, conversion of 31 loss-making branches into outlets, divestment in non-core assets, setting up of separate stressed assets management group and focus on retail and good quality corporate business. Amid talks of part stake sale by the ... Read More »

Going Digital In Banking — DBS, Citi, BBVA, ING Lead The Way

DBS, the Asian bank headquartered in Singapore, was the first to be named the world’s best digital bank by Euromoney in 2016. When just about every money center, regional, community bank and credit union promotes itself as a digital leader, Euromoney looked for more than talk. “Leaders in digital banking talk about the difference between digitising aspects of a bank and creating ... Read More »

High provisions may dent bank profits this quarter

“We expect PNB to report a large loss owing to higher provisions.” MUMBAI: Higher provisions due to rising non-performing assets, losses on account of marked-to-market investments in government securities and uncertainty on leadership will weigh on banks as they set to report fourth-quarter results. Analysts expect net profits of large banks to fall as elevated provisions continue to take a ... Read More »

After Tencent and Ctrip, Bank of East Asia eyes more partners for virtual banking

Bank of East Asia, which has teamed up with internet giant Tencent Holdings and online travel provider Ctrip, is seeking more tech partners to develop its virtual banking services, according to deputy chief executive Adrian Li Man-kiu. Hong Kong Monetary Authority, the city’s central bank, which is aggressively pushing the local banking sector to develop fintech, plans to issue its ... Read More »

NPCI asks banks to reject UPI transactions from non-compliant apps

In a circular released on Friday, the National Payments Corporation of India has cracked the whip on non-compliant Unified Payments Interface apps, instructing banks and payment service providers to reject UPI transactions generated from non-compliant apps.The circular sent to all UPI-supported banks in the BHIM ecosystem stated that it is mandatory for all UPI apps to have support for sending or receiving money through virtual payment addresses, generate QR codes for Bharat ... Read More »

Just two things can fix public sector banks’ problems

At the root of the governance problem in public sector banks is the way transfers and promotions are done across all layers. Photo: HT Sometime in late 2017, billionaire diamantaire Nirav Modi walked into the office of the chief executive officer (CEO) and managing director of a large Indian private bank in Mumbai with two of the bank’s directors in ... Read More »

High-end Livestreaming that Won’t Break the Bank

Cheaper and better — it’s a combination every small business owner loves hearing, but researching reliable B2B products or services to genuinely make tasks cheaper and better is far from easy. Overwhelmed by the time required to do research, small businesses will do DIY experiments with what’s affordable in video marketing. But ultimately, low-quality video and wasted time make those ... Read More »

How Fintech is Bridging the Big Bank Gap

Big banks have always been averse to risk.  They also tend to view small and medium-sized businesses as high-risk, choosing to restrict investment, in terms of both lending and services, for the SMB market. A 2015 credit survey by the Federal Reserve found that smaller institutions were 18 percent more likely to approve a small business loan than big banks, while SMBs ... Read More »

What the Heck is Happening at Your Bank These Days?

If you’re like many Americans, you may be making fewer trips to the bank and instead taking care of check deposits with a mobile app or tracking account balances with a few mouse clicks. Digital banking is undeniably gaining ground over the old brick-and-mortar process. But about 84 percent (PDF) of banking customers still visit branches at least occasionally, according to a March 2016 Federal ... Read More »