Subrata Panda

While household deposits as a percentage of gross domestic product (GDP) came down to 4.1 per cent in 2023 from 6.1 per cent a decade back, borrowings by them during this period moved up from 3.3 per cent to 5.8 per cent, according to a report by management consultancy BCG. The report highlighted that unsecured lending as a proportion of GDP in India is as high as it is in the United States. Meanwhile, the report indicated that households are increasingly shifting from physical to financial assets, and bank deposits are ceding space to pension, small savings, insurance, and capital market.

'We do not believe in fire sale. We don't do it.'

There is a vast universe of fintechs out there and we would be reaching out to everyone to be a part of FACE. We do not have a threshold of scale or business model, said Sugandh Saxena, CEO, FACE

Shriram Group and South African financial services giant Sanlam jointly own Shriram Life Insurance and Shriram General Insurance. Recently, the Sanlam Group bought out the stake held by private equity major TPG in both the general and life insurance entities. TPG held 6.29 per cent in Shriram General Insurance and 7.04 per cent in Shriram Life.

The RBI had conducted a statutory inspection of bank with reference to its financial position as of March 31, 2022, based on supervisory findings of non-compliance with the central bank's directions

He reiterated that Paytm will apply to the Reserve Bank of India (RBI) for a payments aggregator licence in due course. The company recently secured foreign direct investment (FDI) approval from the Indian government.

NPCI, which operates UPI platform, earned Rs 2,693.42 crore in FY24, up 36 per cent from Rs 1,971.69 crore

On Wednesday, the Union Cabinet expanded the health coverage under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to all senior citizens aged 70 years or above

In order to boost its deposit base, State Bank of India (SBI) is focusing on various segments, including JanDhan account holders, trusts, societies, and the segment below the affluent class but above the normal account holders.

'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'