Paytm Lending CEO Bhavesh Gupta gets additional role to lead offline payments vertical

Paytm on Friday said it has elevated Bhavesh Gupta, CEO of Paytm Lending, to take on the leadership for the offline payments vertical in addition to his existing responsibilities.

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EarlySalary looks to close six more deals after HDB tie-up to fuel growth

The HDB tie-up aims to build momentum in the impact categories of skill upgradation, education loans and health-care finance. The association will also facilitate building a large consumer lending book with EarlySalary, Co-founder and CEO Mehrotra said.

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Govt asks banks to share details of 'interest on interest' charged

An official confirmed the development and said that information has been sought on the methodology used for calculating the amount to be refunded or adjusted for different facilities.

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HSBC to acquire L&T Mutual Fund for $425 million

L&T Mutual Fund is ranked 12 out of 44 in the Indian mutual fund industry. Equity assets account for Rs 41,000 crore of the total cited above. HSBC is at 23 with assets of Rs 11,314 crore, of which equity accounts for Rs 4,264 crore. L&T Mutual Fund has 2.4 million active folios, is empaneled with leading banks and has a presence in 65 locations.

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HSBC Asset Management acquires L&T Investment Management Limited

L&T Mutual fund ranks no 12 in the 43 player Indian mutual fund industry with total assets under management of Rs 77,608 crore as of July 31 of which equity assets account for Rs 38,807 crore. HSBC on the other hand, ranks 23rd in the industry with assets of Rs 11,211 crore, with equity assets account for Rs 3369 crore.

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GigVistas partners with Alyve Health to launch health plans for gig workers

GigVistas said that members who purchase the health plans would have additional benefits of free doctor (GP) consultation on call for 12 months, discounts on medicines and exclusive access to health and wellness programmes. In addition, gig professionals will be able to purchase health insurance online on GigVistas without requiring any pre-issuance medical check-ups.

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SBI, Union Bank to go ahead with Swiss Challenge auction for KSK Mahanadi Power loans

In the Swiss auction process, lenders first hold an auction of the NPA, and the offer made by the highest bidder (also known as anchor bidder) is set as the reserve price.

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RBI rejects Religare Finvest's proposal to rename itself

As per the RBI's regulations, lenders cannot restructure loans of borrowers tagged as fraud, unless there is a change in management. Lenders have tagged its parent company Religare Enterprises Ltd (REL) as fraud.

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Physical and digital modes of financial services to co-exist in India: SBI chairman Dinesh Kumar Khara

"In India, we serve a variety of customers. We also serve those who are digital savvy and who would not like to have anything physical but on phone clicks. There are also customers who have financial and digital literacy as a major concern.

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Online merchants can lose up to 40 pc revenues after December 31 due to tokenisation of user card info

The aim of the session was to bring to light the problems consumers were going to face from next year due to the RBI deadline of December 31 for tokenisation, CII said in a statement.

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Kotak Bank arm acquires portfolio from exiting Ford's captive finance unit

The deal comes three months after Kotak Mahindra Group's acquisition of the vehicle financing loan portfolio of Volkswagen Finance comprising passenger cars, two-wheelers and commercial vehicles.

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Technology bringing disruption in financial services sector, need for level-playing field: KV Kamath

"I think it is up to us bankers to make the case with the regulator what is required there to make the level playing field," Kamath said while delivering the inaugural address at the 'FICCI-FIBAC 2021' virtual event on Tuesday.

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Lone Star rejects Rajiv Rattan's proposal to wind up RattanIndia Finance

Lone Star says its ploy to shift attention from his fraudulent conduct, Rajiv Rattan the private equity is trying to extract best price.

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