Bank - News Updates

Date
07-10-2016

Heading
Remittances to India likely to drop 5% in 2016:
World Bank

07-10-2016

Private banks may see Q2 profit growth, PSB

woes to persist

07-10-2016

Two PSU banks cut lending rate by up to 0.15

per cent

07-10-2016

IDBI Banks stalled disinvestment plan

S.No

06-10-2016

Canara Bank, Kotak Bank cut lending rates by

up to 0.1 per cent

06-10-2016

RBI releases operating guidelines for Payments

and Small Finance Banks

08-10-2016

Now, banks look to lure home loan, car loan

takers with freebies and more

06-10-2016

UCO Bank to raise Rs 270 crore via share sale

to LIC

11-10-2016

Banks say no to long-term funds

10

12-10-2016

Utkarsh raises Rs 395 crore, complies with RBI

norm

11

08-10-2016

This is how much your home loan EMIs will go

down after RBI's rate cut

12

13-06-2016

Preloaded virtual cards may ensure safer etransactions

13

07-10-2016

South Indian Bank Q2 net rises 18 per cent to Rs 110.52 crore

14

07-10-2016

Sanjay Nayar, Narayan Seshadri, Vikram Sud to

start NBFC

15

06-10-2016

Canara Bank, Indian Bank & Kotak Bank cut

lending rates by up to 0.1 per cent

16

08-10-2016

Recoveries to be higher, says PNB

17

06-10-2016

RBI issues operational guidelines for Payment,

Small Finance Banks

18

05-10-2016

RBI to continue with easing; next cut in

February: Analysts

19

07-10-2016

SBI may sell up to 5% stake in SBI Life

Insurance

20

08-10-2016

FICO, Lenddo to develop credit score for

Indians

21

06-07-2016

BNP Paribas Named Worlds Best Bank in

Euromoney Awards for Excellence 2016

22

08-10-2016

Fintech City gets CM approval

23

07-10-2016

More capital infusion in fintech, FlexiLoans

raises Rs 100cr from Sanjay Nayar and others

24

28-09-2016

Fintech in India is so fragmented that it could

end up having very little impact

25

04-10-2016

SBI and IIT Kharagpur sign MoU for fintech

collaboration

26

19-09-2016

YES BANK has Partnered With the Fintech

Startup NiYO to Revolutionise Employee
Benefits

10-10-2016

India is at world's centre stage more than ever

before, but current growth rate not enough,
says Arun Jaitley

12-10-2016

UAE Exchange eyes universal bank licence to

clock lending of Rs 1,000 crore

12-10-2016

Ahead of Diwali, India Bitcoin startups Unocoin,

Zebpay and Coinsecure mine new investments

12-10-2016

Startup procurement norms not relaxed completely

13-10-2016

Anupam Mittal, Rajan Anandan, Kunal Shah & Zishaan

Hayath among top angel investors in Q3

Link
Summary
http://economictimes.indiatimes.com/articleshow/54741683.cms?utm_source=contentofinterest&u
Remittances to India are likely to see a drop of
5 per cent in 2016 at $65.5 billion due to
impact of declines in commodity prices on
resource-rich economies
The demand for developing countries'
exportsis limited by the slow recovery in
industrial economies and the impact of declines
in
commodity
prices
on
resource-rich
economies, while the benefits to many
commodityimportershave been eroded by
declining remittances, the report said.

http://economictimes.indiatimes.com/articleshow/54737503.cms?utm_source=contentofinterest&u
Private sector banks are likely to see about 5
per cent uptick in earnings while profit of stateowned lenders may drop 12.7 per cent for the
second quarter of this fiscal Continued asset
quality stress and focus on balancesheet health
would drive banks to make high provisions,
which could impact earnings," PNB,BOB,Union
bank of India which have aggressively
recognised stress loans over the last one year
may surprise positively on this front," it said.

http://economictimes.indiatimes.com/articleshow/54736951.cms?utm_source=contentofinterest&u
RBI cutes REPO rate by 25 BPS on 04/10/16 but
OBC has reduced it to only 15 BPS ,United Bank
of India has reduced MCLR rate by 5 BPS

http://economictimes.indiatimes.com/articleshow/54725593.cms?utm_source=contentofinterest&u
The government, looking to get state-run IDBI
Banks stalled disinvestment plan moving
again, has instructed the lenders management
to bring its stake down to 52%.The Centre
currently holds 73.98% and has not announced
any capital support to the bank for this fiscal.
IDBI Bank already has shareholder approval to
raise Rs 8,000 crore of capital, Managing
Director Kishor Kharat told ET.

http://economictimes.indiatimes.com/articleshow/54722833.cms?utm_source=contentofinterest&u
RBI cutes REPO rate by 25 BPS on 04/10/16 but
KOTAK MAHINDRA BANK has reduced it to only
10 BPS ,CANARA Bank of India has reduced
MCLR rate by 5 BPS

http://economictimes.indiatimes.com/articleshow/54720559.cms?utm_source=contentofinterest&u
Use of digital banking to open bank
accounts.Mobile phone users can also open
accounts provided KYC formalities are met

http://www.financialexpress.com/industry/banking-finance/festival-offers-galore-on-banks-loan-prod
Waiving
of
processing
fees,concessional
interest rate,EMI holiday schmes by various
banks on various products

http://www.financialexpress.com/markets/indian-markets/uco-bank-to-raise-rs-270-crore-via-share-s
State-owned UCO Bank today said it will sell
7.17 crore shares to LIC on a preferential
basis.With the preferential share allotment, LIC
stake in the bank will increase by 5.5 per cent.
Currently, insurance companies, including LIC,
holds 12.02 per cent stake in the bank.

http://economictimes.indiatimes.com/articleshow/54786643.cms?utm_source=contentofinterest&u
During times of falling rates, customers borrow
for about two-three years and refinance it at a
lower rate subsequently to save on finance
costs thats why Stung by high cost of funds
when demand for loans is at the weakest in
nearly a decade, state-run banks, which used
to rely on long-term fixed deposits, are
increasingly not accepting any fixed deposit
beyond five years

http://economictimes.indiatimes.com/articleshow/54809415.cms?utm_source=contentofinterest&u
Govind Singh, MD & CEO, Utkarsh Micro
Finance said, the fresh funds raised will be used
to expand business, particularly in introducing
new banking products. The investment will take
care of capital requirements for the next 3-4
years.
ICICI Securities & Avendus Capital were the
financial advisors to the company whereas BMR
Legal was the legal advisor.

http://www.businesstoday.in/money/banking/rbi-repo-rate-cut-will-your-emis-go-down-substantially
RBI cutes rate by 25 BPS on 04/10/16 but ICICI
has reduced it to only 5 BPS

http://www.businesstoday.in/money/banking/all-you-must-know-about-virtual-cards-for-safer-e-trans
Now with increasing instances of hacking, there
is a fear your data may be misused or sold. It's
in such instances that virtual cards come in
handy.

http://www.financialexpress.com/industry/banking-finance/south-indian-bank-q2-net-rises-18-per-ce
At the same time, Gross non-performing assets
(NPAs) of the bank rose to 3.96 per cent of the
gross advances as of September 30, as against
2.24 per cent a year ago.Net NPAs or bad loans
were 2.77 per cent of the net advances, up
from 1.39 per cent a year ago.

http://www.financialexpress.com/industry/banking-finance/south-indian-bank-q2-net-rises-18-per-ce
The NBFC has been set up with the acquisition
of Flexiloans Technologies, which operates the
technology-based
financing
platform
FlexiLoans. The initial loan book of the NBFC
will be Rs100 crore.

http://www.financialexpress.com/industry/banking-finance/canara-bank-kotak-bank-cut-lending-rate
State-owned Canara Bank, Indian Bank and
private sector Kotak Mahindra Bank today cut
lending rates by up to 0.1 per cent, following
the 0.25 per cent repo rate cut by the RBI

http://www.business-standard.com/article/finance/recoveries-to-be-higher-says-pnb-116100700948
Bank says most of the work on recoveries is
happening on the field, covering SME and retail
sectors, PNB's gross non-performing assets
(NPAs) rose to Rs 56,654.09 crore (13.75 per
cent) as on 30 June 2016 from Rs 25,397.42
crore (6.47 per cent) as on 30 June 2015.

http://www.financialexpress.com/industry/banking-finance/rbi-issues-operational-guidelines-for-pay
MFIs and NBFCs that have obtained permission
to set up small finance banks should be given
three years to close or convert their existing
branches into banking outlets to facilitate an
orderly transformation, an RBI panel suggested
today. RBI granted in-principle approvals to 11
entities for setting up payments banks (PBs) in
August 2015 and 10 for Small Finance Bank
(SFB) in September 2015

http://www.financialexpress.com/industry/banking-finance/rbi-to-continue-with-easing-next-cut-in-f
A day after the monetary policy committee
(MPC) debuted with a surprise 0.25 per cent cut
in rates, analysts today said the Reserve Bank
will continue with the accommodative stance
but the next action can come only in the
February review.

http://www.livemint.com/Companies/iV8CpgfaUdOkUAS2ZwrFaN/State-Bank-of-India-may-sell-up-to
The stake sale to private equity investors will
help SBI set an indicative price for the eventual
initial public offering

http://economictimes.indiatimes.com/news/economy/indicators/fico-lenddo-to-develop-credit-score
FICO, a global credit rating agency, has
partnered with Lenddo, an expert in credit and
verification technologies, to develop a credit
risk score for consumers in India. It will give
lenders improved certainty around the risk
assessment of people with 'thin-files' those
who don't have enough data in their credit
report to score.

http://www.bnpparibas.co.in/en/2016/07/06/bnp-paribas-named-worlds-best-bank-in-euromoney-aw

http://timesofindia.indiatimes.com/city/indore/Fintech-City-gets-CM-approval/articleshow/54750403
Chief minister Shivraj Singh Chouhan on Friday
gave the nod for developing a Fintech City on
Super Corridor that is expected to provide jobs
to around 75,000 people.

https://yourstory.com/2016/10/flexiloans-funding/
On
Friday,
lending
platform
FlexiLoans
announced raising funds of Rs 100 crore from
industry stalwarts Sanjay Nayar, CEO, KKR;
former head of ops and technology at Citibank,
Vikram Sud; Chief Investment Officer at HDFC
Bank, Anil Jaggia; and ex-MD of KPMGs
advisory business, Narayan Seshadri

https://yourstory.com/2016/09/fintech-india-fragmented/
The chart at the End is worth a look

http://www.econotimes.com/SBI-and-Indias-premier-educational-institution-sign-MoU-for-fintech-col
SBI has been working in multiple modes to
promote innovation and collaboration with
fintech companies. Its wider programmes
include ideation, incubation, experimentation
and commercialization of new technologydriven products and services for the banking
sector.

https://www.yesbank.in/media/press-releases/fy-2016-17/yes-bank-partners-with-fintech-startup-ni
NiYO features an integrated solution comprising
of a Multi-Pocket Card, a Mobile App and a
digital account with multiple wallets. Under this
partnership, YES BANK along with NiYO has
rolled out the YES BANK NiYO Benefits Card
that makes it easy for organizations to give
employee benefits, and for employees to claim
the benefits.

http://www.firstpost.com/business/india-is-at-worlds-centre-stage-more-than-ever-before-but-curren

http://economictimes.indiatimes.com/news/economy/finance/uae-exchange-eyes-universal-bank-lic
Money transfer company UAE Exchange is
accelerating disbursal of loans to agriculturists
and small traders in an effort to clock lending
of Rs 1,000 crore to the so-called priority sector
that will enhance its position when it applies for
a universal bank licence again.

https://e27.co/ahead-of-diwali-india-bitcoin-startups-unocoin-zebpay-and-coinsecure-mine-new-inve
With the highest remittance rate in the world,
India might have the perfect storm of expertise
and demand to become a strong hub for Bitcoin
and blockchain-based tech

http://www.newindianexpress.com/business/2016/oct/12/startup-procurement-norms-not-relaxed-completely-1527095.html?
Startups are unlikely to get the benefit of the relaxation
clause for the prior experience and turnover criteria with
respect to procurement of goods that have implications on
public safety and health.

http://techcircle.vccircle.com/2016/10/12/anupam-mittal-rajan-anandan-kunal-shah-ratan-tata-zishaan-hayath-among-top-an
angels and seed funds continue lending a hand to earlystage companies. Angel and seed deals shrank by a mere
8% compared to an almost 38% drop in both VC and PE
deals in the January-September period this year,

business Today

Mint

Sanjay Nayar
Mr. Narayan Keelveedhi Vikram Sud: 30 years
Member & CEO of KKR Seshadri, CA serves as of
international
India
the Chairman and Chief banking
experience
Executive
Officer of doing
product,
Halcyon Resources and business, technology
Management Pvt. Ltd. &
operations
management
roles
across both corporate
& consumer banking
in India, Asia & the
US.

Another private sector Oriental Bank of Commerce, United Bank cut lending rate by up to 0.15 p
lender Karur Vysya Bank
announced
reduced
MCLR rate by 0.35 per
cent
on
various
maturities

In India, almost 56 Further, India is touted

percent of the SMEs face to have a huge market
working capital issues of around 29 million
due to late payment or small businesses and
unavailability of bank SMEs contributing 45
credit.
percent to the countrys
industrial output and to
40 percent of the total
exports. With such a
massive market still
untapped, lending is a
huge space to watch
out for.

CW - News Updates
Sr No.
1

Date
13-09-2016

Heading
The state of fintech in India

12-10-2016

Banglore
based
startup
MoneyTap offers instant credit
in 6 taps; heres how

12-10-2016

Adhil Shetty, BankBazaar CEO, on

scaling up and international expansion

13-10-2016

Chartered
Accountant
Established
Career
SMEs/MSMEs !!!

13-10-2016

Exclusive: Online lending platform

ZipLoan raises seed funding led by
GrowX

13-10-2016

Fin-tech startup co-floated by former

Housing.com CFO joins hands with
NBFC veterans

06-10-2016

Fullerton may add 20-25

branches in the second half of
this fiscal

11-10-2016

Altico Capital to invest Rs

5,000 crore in housing projects
this year

Fund Providers

Left
His
to
Help

Link
http://www.livemint.com/Industry/LByMUFBJDIKzfG5SW9cRZI/The-state-of-fintech-in-India.html

Banglore based startup MoneyTap offers instant credit in 6 taps; heres how

https://yourstory.com/2016/10/adhil-shetty-bankbazaar/

http://bwdisrupt.businessworld.in/article/Chartered-Accountant-Left-His-Established-Career-to-Help-SMEs-MSMEs-/20-08-2

http://techcircle.vccircle.com/2016/10/12/exclusive-online-lending-platform-ziploan-raises-seed-funding-led-by-growx/

http://techcircle.vccircle.com/2016/10/07/fin-tech-startup-co-floated-by-former-housing-com-cfo-joins-hands-with-nbfc-vetera

http://www.thehindubusinessline.com/money-and-banking/fullerton-may-add-2025-branches-in-the

http://economictimes.indiatimes.com/articleshow/54786721.cms?utm_source=contentofinterest&u

http://www.investmp.com/gis-2016-overview

Summary
The chart is worth a look in it

app-based credit line for consumers to get instant credit in a

total of six taps on the app. Founded by serial entrepreneurs
Bala Parthasarathy, Anuj Kacker and Kunal Varma, the start-up
aims to target mid-income Indians.
The company counts marquee investors like Walden International, Fidelity
Growth Partners, Mousse Partners, Sequoia Capital and Amazon among its
backers, with a $60 million Series C round in 2015 being the most recent
investment. Against the backdrop of the recently concluded TechSparks 2016,

MarketBills on one-hand helps suppliers raise finance against unpaid invoices

and solve their working capital cash flow problems while on another hand offers
high return low risk short-term investment opportunities to Investors. Suppliers
have access to faster funds at competitive interest rates while investors earn
significantly higher returns on their investments

Delhi-based online lending platform ZipLoan has raised an undisclosed amount

of seed funding led by GrowX Ventures and other angel investors, co-founder
Kshitij Puri told Techcircle
everal veterans from the financial services space including Sanjay Nayar, chief
executive of KKR India, and Vikram Sud, former head of operations and
technology at Citibank, are joining hands with Mumbai-based fin-tech loan
company FlexiLoans Technologies Pvt. Ltd with an investment of Rs 100 crore
in their personal capacity.

The company plans to add 20-25 branches in the second half of

this fiscal. Currently, it has over 527 branches across the
country.
Non-banking finance company Altico Capital is planning to
invest Rs 5,000 crore in residential real estate projects by
March 2017 across Indias top property markets including
Mumbai, National Capital Region, Bengaluru and Pune.
Global investment summit in MP(22-23 october)

Genre

Industry - News updates

Sr

Date

Heading

12th Oct 2016

RideSafe to Locus: How this startup

moved from womens safety to helping
track food delivery boys

12th Oct 2016

India plans roadshows for promoting textile

exports to new markets

Link

http://www.financialexpress.com/industry/companies/ridesafe-to-locus-how-this-startup-moved-from-womens-safety-to-help

http://economictimes.indiatimes.com/articleshow/54803013.cms?utm_source=contentofinterest&utm_medium=text&utm_ca

Summary
Nishith Rastogi and Geet Garg, both former employees of Logistics
Amazon Web Services, had designed a geo-tracking app,
RideSafe, for womens safety in February 2015. However, they
were pleasantly surprised when food tech companies started
adopting RideSafe to monitor the movement of their delivery staff.

We used to hold roadshows earlier and we want to approach new Textile

markets through these. We have identified Russia, South America and
West Asia to boost exports, said one of the officials, who did not wish to
be named.

Industry