Elets Exclusive : Fintech will emerge as gamechanger during COVID-19 outbreak, says Shiju Rawther A, Infoline Group. The COVID-19 outbreak will change the office-based model and people will no longer rely on geographical planning.
Digital will come forward. Fintech, in particular, will play a major role during this crisis. Earlier, Fintech was only considered from the BFSI point of view but now they will be at the forefront. It will be a gamechanger for the Indian Economy, said Shiju Rawther A, EVP – Technology, India, Infoline Group (IIFL Group) during a Live Webinar hosted by Elets Technomedia. Excerpts of the address: Challenges will definitely hinder the growth of the BFSI sector but this phase of the crisis is temporary. As a positive measure, the Government is pushing a lot of packages for the growth and stability of the economy. It is the time when organisations need to level-up their infrastructure so that they are capable enough in meeting the lending demands when the market opens. Fintech, in particular, will play a major role during this crisis.
Please watch the full Video here: RBI caps Yes Bank's withdrawal limit at Rs 50000. The Reserve Bank of India (RBI) on Thursday superseded the board of Yes Bank and imposed a month-long moratorium, it said in an announcement.
The central bank is expected to arrive on a credible restructuring plan in the next few days and has put a withdrawal limit at Rs 50000. “The Reserve Bank assures the depositors of the bank that their interests will be fully protected and there is no need to panic,” it said in a statement. This is for the first time that the Reserve Bank of India has taken such a drastic step with respect to a big lender since July 2004 when the regulator got public lender Oriental Bank of Commerce (OBC) to take over Global Trust Bank to rescue the private sector lender.
The RBI action comes in response to the lender’s inability to raise funds that would have helped it provide against loan losses. Three-day nationwide bank strike postponed due to positive developments. The planned three-day bank strike announced by several unions from March 11 has been delayed due to ‘positive’ developments at the bipartite meeting held in Mumbai on Saturday, an AIBEA statement revealed.
The strike was called by the members of United Forum of Bank Unions (UFBU), the umbrella authority of the trade unions in the banking sector. All India Bank Employees’ Association (AIBEA) statement notified that in the bipartite meeting, which held on Saturday between the unions and Indian Banks Association (IBA), featured discussions with respect of offer of hike in pay slip cost to 15 percent, demand for five-day banking among others. Besides, the statement said that IBA has agreed to discuss all other issues flagged by the unions. RBI Assistant 2020 Prelims Results Declared: Details Here. The Reserve Bank of India (RBI) has declared the results for the RBI Assistant 2020 Prelims on March 3.
The RBI Assistant Prelims 2020 result was released on RBI’s official website at rbi.org.in. RBI Assistant Result 2020 to be out soon: Details inside. Reserve Bank of India is likely to announce the results for the RBI Assistant 2020 Prelims soon.
Reportedly, the RBI Assistant Result 2020 date will be March 3. However, there are no official announcements on the release date of the results. Updates as per the official announcement will be available here. Bank holidays in March 2020: Details Inside. If you are planning your bank visit in the month of March this year, keep the bank holiday list handy.
Due to several festivals in the month, your plan may get halted. Bank holidays in March 2020: Details Inside. Rs 994.5 crore allocated to Bihar's 5 smart cities till date. In a bid to improve and expedite the Smart City projects of the state, an amount of Rs 994.5 crore has been allocated to Patna, Bhagalpur, Muzaffarpur and Biharsharif smart cities.
Suresh Sharma, Minster for Urban Development, Government of Bihar said this while responding to the Legislative Council. Detailing on the fact he added, Rs 382 crore has been allocated to Bhagalpur, Muzaffarpur got Rs 112.5 crore, Rs 380 crore was for Patna and Rs 110 for Biharsharif. The smart city work has been planned for a period of five years. Acko partners HDB Financial Services to offer Micro Insurance on HDB Aabhar Cards. Acko General Insurance Limited has partnered with HDB Financial Services Ltd, India’s leading Non-Banking Financial Company (NBFC) to offer Micro Insurance on HDB Aabhar Cards.
Acko is India’s first and fastest-growing InsurTech Company committed to making insurance more meaningful and compelling to consumers via personalised underwriting, micro Insurance products, and a paperless, automated single-click micro claims process built on world-class technology. HDB Financial Services (HDBFS) provides Aabhar cards (EMI cards) to its customers when they use Sales Finance from General trade stores/ Large Format Retail etc. The insurance covers are in-built features of the Aadhar card.
As a part of this partnership, Acko will be offering the Aabhar card holder with micro insurance cover which will offer a wide range of benefits such as Vector borne disease cover, loan protector and hospital cash allowance to HDB Customers. Bank Holidays Alert: Banks to remain shut for next 3 days starting from today. All public and private sector banks will not operate for the next three days starting from today.
The banks will remain closed on the account of Maha Shivratri today, tomorrow is fourth Saturday and regular holiday for banks. Similarly, the day after tomorrow is Sunday. Besides, there are several other festivals this month due to which the banks will remain closed for ten days. UP Budget Updates: UP Govt tables Rs 5.12 lakh crore Budget in state assembly. The Uttar Pradesh government has tabled a Rs 5,12,860.72 crore budget for Financial Year 2020-21 in the state assembly.
The size of the budget, which has Rs 33,159 crore higher alloaction than the last year’s budget, offer provisions worth Rs 10,967.87 crore for new schemes. Finance Minister Suresh Kumar Khanna presented the budget in the presence of Chief Minister Yogi Adityanath. UP budget 2020: Highlights Expansion and beautification of Kashi Vishwanath temple.
Significance of financial wellness at the workplace. Financial wellness, simply defined is managing one’s finances effectively and meeting current financial needs, while working towards future financial goals. This includes regular savings, reducing and managing expenditure and even planning emergency funds. Today, personal finance is said to be one of the leading causes of stress for young, working professionals. A PwC study revealed that over 54% of all employees are stressed about their finances. This stress, in turn, leads to loss of productivity that reportedly cost businesses about $300 billion, annually. Hence, companies must have in place systems to provide financial advice and related offerings to their employees.
Employers must take care to ensure that they make arrangements for providing at least basic financial education to workers, followed by periodic training sessions, workshops, etc. to promote financial wellness. Rajasthan Cooperative Bank Result 2020: Download Merit List here. Rajasthan Cooperative Bank Result 2020: Cooperative Recruitment Board, Rajasthan has announced results of the RSCB Bank for Senior Manager, Manager, Banking Assistant, Computer Programmer & Steno Posts on 14.02.2020.
The examination for RAJCRB was conducted on 16.12.2019 to 19.12.2019. Rajasthan State Cooperative Bank has decided to recruit the aspirants on the basis of Examination. The results for Raj Cooperative Bank Exam can be checked on @ rajcrb.rajasthan.gov.in. As per the Rajasthan State Cooperative Bank recruitment notification, a total of 715 vacancies are announced for Senior Manager, Manager, Banking Assistant, Computer Programmer & Steno posts.
Applicants, who will be selected through the exam, will be placed across the Rajasthan State. Why never lie while buying Life Insurance? A life insurance shields from the financial burden that may incur on the family in case of the breadwinner’s eventuality. Moreover, there are life insurance plans that provide not only life cover but also an investment opportunity. To ensure financial stability during an unforeseen situation and to meet various financial goals, people opt for life insurance policies. Since it provides a life cover, the proposed procedure isn’t simple and straightforward. It usually takes time to complete the proposal procedure, post submitting the proposal form, the underwriting team scrutinize the application. It is now up to the insurance company to give the life insurance or not, and if they are ready to provide the life cover, they will check the risk to decide whether it will be the same premium or with a loading.
Life insurance comes with a lot of clauses and conditions that prevent people from misusing the product. IDBI Bank Admit Card 2020 for Specialist Officer Posts Released: Download here. IDBI Bank Admit Card 2020: Industrial Development Bank of India (IDBI) has released the Specialist Officer Admit Card 2020 on its website. Candidates who had applied for IDBI SO 2020 as per the advertisement number 03/2019-20 can now download their admit cards by visting the official website of IDBI Bank.i.e. idbibank.in.
The downloading link for IDBI SO Personal Interview Admit Card 2020 will be active till 18 February 2020. Candidates can download their admit cards by furnishing the required credentials at the official website by following the instructions given below. Direct Link to Download IDBI SO Personal Interview Admit Card 2020 The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. SBI Clerk PET Admit Card 2020 Released: Download Here. SBI Clerk PET Admit Card 2020: India’s largest public sector lender the State Bank of India (SBI) has released the admit card of Pre- Examination Training for the post of Junior Associate (Customer Support & Sales) in clerical cadre.
Aspirants from the SC/ST/XS/ Religious Minority Community who have opted for the training, while registering for the post, can download SBI Clerk PET Admit Card from SBI official website www.sbi.co.in. Customer services must transfigure to stay competitive: Ayan Sarkar, Salesforce. Salesforce is the world’s #1 Customer Relationship Management (CRM) platform. Budget 2020: What is in store for Technology? Union Finance Minister Nirmala Sitharaman presented the Union Budget 2020 in the Parliament on Saturday, forwarding several policies pertaining to all sectors. During the announcements, she proposed certain policies that will help in boosting the technology sector and extending support to economic growth in India. PayU is India's most scalable & stable payment platform: Mohit Gopal. Decision Automation: Key Success Factors. The World Economic Forum estimates that Digital Transformation could enable value creation of almost $100 trillion across industries and society by 2025.
Formalizing access to credit for MSMEs will be a priority in Budget 2020. With 63 million micro, small, and medium businesses contributing close to 30% of India’s GDP – there is no doubt that MSMEs form the backbone of the country’s economy. Bank Strike : Govt bank employees to call for 2-day strike from Jan 31. Indian Bank recruitment 2020: Apply now at indianbank.in. REWIND 2019: How technologies equipped NBFCs for future. With their immense involvement and contribution in the economy, NonBanking Financial Companies (NBFCs) have emerged as an alternative to mainstream banking. Be it infrastructure, transportation, employment generation and wealth creation, their contribution across the sector is visible. SBI recruitment 2020: Applications invited for vacancies with salary up to Rs 14 lakh. Budget 2020: Centre must aim at cash-light economy, says Lyra Network CEO. Aviva Life Insurance names Neil Karia as new CFO. Bring liquidity back in the system suggests iFAST Financial India Research Desk.
Debit, credit cards to be disabled for online transactions if not used before. HDFC Bank credit card services to be temporarily out of service on January 18. Rajkot Nagarik Sahakari Bank Recruitment 2020: Jr Executive Posts. Budget Expectation 2020: Industry leaders unravel the future Startups and Technology. SBI Clerk 2020 Announcement: Apply online for 8,000 posts from today. State Bank of India announces free services for its customers.
How Cloud Computing is Driving the Industrial Revolution 4.0. Top 50 NBFCs in India. Sachin Bansal acquires DHFL Gen Insurance. RBI introduces video based customer identification process. World Bank lowers India's FY20 growth estimate to 5 percent. Banking 2020:Building a Truly Digital Bank. 5 Expectations From The Investment World For 2020. Data is changing the face of the world: Sreedhar Chinnapolla, MITS. Pre-Budget meet: India Inc pitches for single corporate tax rate of 15% over three years. Pravinkumar Bhandari Chief Business Officer. 8th NBFC100 Tech Summit. CyberSecurity-Biggest challenge to Industry 4.0. Axis Bank, Indian Oil unveil co-branded credit card for cashless payments. PV Bharathi takes charge as MD Corporation Bank. Centre slashes allocation for Startup India in FY'20 Budget.
6th NBFC100 Tech Summit, New Delhi. Budget 2019: What's in store for the IT industry? Budget 2019 is dedicated to the common man: Thomas John Muthoot, MD, Muthoot Pappachan Group. Interim Budget 2019: Finance Minister Piyush Goyal magnifies Centre's move towards clean banking. Budget 2019: Centre to set-up National Centre for Artificial Intelligence soon Growth driven by stable policy environment should be the theme of budget 2019. Infor, ESDS partner to drive digital transformation for Indian and Middle-Eastern Businesses. Piyush Goyal to present interim Budget 2019 on February 1. YES Bank board to appoint director Ajai Sharma as interim CEO. RBI Governor meets PSBs, conveys regulator's expectations ahead of monetary policy. Centre directs PSBs to step up credit to the economy. Increasing Profits by Smartly Managing your IT Footprint - Make your IT Footprint as Agile... "Significance of Aadhaar, Data Protection & Privacy in Banking Sector": Bipin Ramesh Khot, UIDAI.
Finance Minister Piyush Goyal to meet PSU banks CEOs today. How good is BFSI sector as a career choice? - BFSI - Quora. Lakshmi Vilas Bank reappoints Parthasarathi Mukherjee as its MD for two more years. Citi India elevates CEO Pramit Jhaveri as Vice-chairman of banking, capital markets and advisory, APAC. "Digital Engagement using Liferay DXP": Shubham Nagar, Dir - Digital Solutions, InfoAxon.
"Security Transformation in Today’s Digital World": Navin Mehra, Fortinet. Deutsche Bank's Ravneet Gill to replace Rana Kapoor as YES Bank's CEO. Digitising the MSME Lending Space. "Data Security Management Throughtout your IT Infrastructure": Rahul Kumar, WinMagic India Pvt Ltd. Centre appoints Piyush Goyal as interim Finance and Corporate Affairs minister. What Financial Institutions are Learning from Red Hat & Applying Innovation.
Veeam expands leadership in cloud data management. PayNearby introduces BharatQR across its 2 lakh merchant network. How changing technology involving automation solutions impacting businesses? Identity Devices unveil Biometric Privacy platform to safeguard Aadhaar user's privacy. NCLT approves Tata Teleservices' merger with Bharti Airtel. LIC completes 51% stake acquisition on IDBI bank. Why Health Insurance for elderly a must buy! Paytm unveils "Paytm for Business" app for e-payments in SMEs. AI Superpower: The Leaders and The Contenders... By-Utpal Chakraborty. PayU India names PayU Finance as a separate entity. GST panel led by Maha Finance Minister to study tax rate on lottery. "Open Redefined - Digital Transformation with Open Source": Rahul Krishna, SUSE. "Borderless Growth while Managing Business Risk": Priyankar Choudhury, Tata Communications. 3rd BFSI Leadership Summit. "Evolution of banking and the role of technology": LR Ramchandran, NABARD.
The Enterprise Immune System: Using Machine Learning for Next-Generation Cyber Defense. "Role of technology in simplifying consumer-based services?": B Raj Kumar, Indian Banks’ Association. "How tech-driven BFSI sector bridging the urban-rural gap?": Padma Jaiswal, Govt of Puducherry. Indra Nooyi likely to be the next World Bank Chief. RBI set to frame new rules for bank CEOs' pay Intellect Design Arena unveils treasury and ALM solution, Capital Cube.
Centre to unveil insurance scheme for GST-registered small traders. Aiming to boost GDP through MSME funding. Meera Sanyal, veteran banker and AAP leader passes away. "Significance of technology recycle in today's era": Rajagopal Devara, Government of Maharashtra. "Tech-driven transformations and the role customer compliance in BFSI": Ankur Gupta, Govt of Haryana.
American Express names Kabir Julka as its new CHRO.