Indian Banking Industry News & Updates
Q&A : Seeing 1.2 billion incremental monthly transactions post Paytm partnership: YES Bank CEO Prashant Kumar
Private sector lender YES Bank is witnessing over 1.2 billion monthly incremental payment transactions after becoming one of the four payment service provider (PSP) banks and exclusive merchant acquiring partner for Paytm. Prashant Kumar, MD & CEO, tells Piyush Shukla that the bank will spend Rs 1,000 crore in FY25 on building and modernising its digital and technology capabilities. Excerpts:
Gold loan business is shining as regulatory scrutiny of sector grows
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down – be it pushing the lines on governance or unsecured credit. The ministry’s move came close on the heels of Mint Road barring IIFL Finance from vending gold loans over supervisory concerns. Even as there are whispers that a decade after the K U B Rao Working Group to study ‘Issues Related to Gold and Gold Loans NBFCs’ submitted its report, a review may well be in order.
A higher interchange is critical for ATM biz: India1 MD & CEO K Srinivas
A decade after white-label ATM operators (WLAOs) came into play, only a shade more than 30,000 units have been set up by them. The country’s largest WLAO, India1, with a tad over 13,000 units, feels it can double deployments by FY28.
Getting a credit card is easy but closing it needs a checklist of tasks
Getting a card is easy. Nowadays, preapproved cards can be obtained with just a few clicks. However, if you thought cancelling a card would also be a cinch, you might be in for a reality check.
Small towns, big wins: Mutual fund AUM breaks the Rs 10 trillion barrier
The B30 assets under management (AUM) surpassed the Rs 10 trillion mark for the first time in February 2024 and are now nearing Rs 11 trillion.
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