Finance

IRDAI bows before the Delhi High Court

After being chided by the Delhi High Court for turning a blind eye to how insurance companies are misusing the exclusion clause of genetic disorders in health insurance policies, the Insurance Regulatory and Developing Authority of India (Irdai) has asked insurance companies to remove genetic disorders from the list of exclusions in health insurance contracts. In a 19 March 2018 ... Read More »

PayPal’s Shivananda: The future of financial services is algorithmic and experience-centric

Sri Shivananda, senior vice-president and chief technology officer of PayPal. Mumbai: PayPal Holdings Inc.’s digital payments platform is available in more than 200 markets worldwide and used by 227 million active account holders. Sri Shivananda, senior vice president and chief technology officer of the company, is a geek at heart who earlier worked at eBay Inc. as a software engineer and ... Read More »

6 lessons for your first job

Unless you are extremely lucky, your first job is usually not your dream job. Sometimes, it is a pain the neck. Keep in mind, however, that no matter how much you hate it, this is where you will learn the ropes. The lessons – sometimes painful – you learn here will equip you with the skills necessary to land the ... Read More »

Aye Finance raises Rs 25 cr from Hinduja Finance & Intellegrow

Delhi-based MSME lending platform Aye Finance has raised Rs 25 crore from Hinduja Leyland Finance and Intellegrow.   This is the second securitisation deal for the company. Last year it had raised Rs 10 crore by securitising part of its portfolio.   Sanjay Sharma, Founder and Managing Director Aye Finance said, “The loan requirements of these businesses ranges between Rs 50,000 and Rs ... Read More »

Eros ‘Self-Sufficient’ To Finance Its Content Partnership With Reliance, Says Jyoti Deshpande

Eros International Plc and its India subsidiary have sufficient cash-in-hand to finance its content partnership with Reliance Industries Ltd. That’s the word coming in from Eros’ group chief executive officer, Jyoti Deshpande, who will henceforth be stepping down from her position to head Reliance’s media and entertainment arm as the President of the Chairman’s office, as announced by the group ... Read More »

View: Technology can help check frauds in trade finance

Trade finance frauds will motivate banks to adopt distributed digital ledger technologies in 2018. By Shiv Kumar Bhasin Trade finance by banks and other financial institutions is a vital function in international commerce, as it provides delivery and payment assurance to buyers and sellers, and it helps close the gap in trade cycle funding for these parties. The growth and ... Read More »

Bail-in clause in FRDI Bill will only be used sparingly: Finance ministry

Subhash Chandra Garg, secretary in the department of economic affairs in the finance ministry. New Delhi: Seeking to assuage concerns of depositors, the finance ministry on Tuesday defended the bail-in clause in the FRDI Bill and said the provision will only be used sparingly. The ministry also said the bail-in clause in the Financial Resolution and Deposit Insurance Bill, 2017, is ... Read More »

‘Finance dept. office buildings in all districts’

‘Efforts are on to recruit employees in a phased manner’ The State government is planning to undertake construction of office buildings to the Finance Department in all the districts, besides ensuring permanent buildings to house the sub-treasury offices, according to Finance Minister Yanamala Ramakrishnudu. Along with Home Minister N. Chinarajappa and local elected representatives, he laid foundation stone for the ... Read More »

Bitcoin is not legal tender in India: finance ministry

Last week the Ministry of Finance said that virtual currencies (VCs), including bitcoins, are not currencies. “VCs are not currencies. These are also being described as ‘coins’. There is however no physical attribute to these coins. Therefore, VCs are neither currencies nor coins,” the ministry said in a press statement. It further clarified that virtual currencies are not backed by ... Read More »

ECB: bitcoin threatens Europe’s financial stability

Yves Mersch, a member of the executive committee of the European Central Bank (ECB) said bitcoin and similar unregulated cryptocurrencies pose a real risk to the established financial order.  In an interview with the German newspaper Boersen Zeitung, Mersch warned the entirely speculative nature of bitcoin’s value was a ‘cause for concern.’ Mersch also warned against banks investing in cryptocurrency. ... Read More »