Hitachi Payments on expansion spree, to nearly double white label ATMs by March

​ Hitachi’s aggressive expansion is interesting as the white label ATM business has been in losses since the beginning primarily because of the lower inter-change charges which the banking industry and the regulator has not been able to revise to a profitable level for the operators, forcing many of them to withdraw from the business. …

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Trade finance got more digitised post-Covid: Report

During the pandemic, Axis Bank, HDFC Bank and State Bank of India were most helpful in helping their clients mitigate the impact of COVID-19 on trade finance, according to a survey by Greenwich Associates, the analytics arm of ratings firm Crisil. “Battered by the COVID-19 crisis, large Indian companies are looking to their banks for digital solutions that can make their supply chains more resilient to pandemic-related disruptions” said the report released by Crisil….

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Muthoot Finance, Bajaj Allianz General Insurance tie up to provide insurance on gold jewellery

The policy provides insurance coverage of gold jewellery for individuals. This is designed to provide insurance coverage of gold jewellery articles for customers of the company at the time of closure of gold loan and release of gold ornaments. It will provide insurance coverage to the customers of Muthoot Finance as a loyalty product….

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CPI objects to LVB merger with DBS Bank, asks what’s the tearing hurry

Party General Secy D Rajan wants the ailing lender to be merged with a PSU bank instead, says this has been done in many cases in the past …

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Rajan, Viral Acharya rip apart RBI over bank licences for large corporates

The duo said banks in India are rarely allowed to fail, which helps them garner huge deposits. If banks are owned by industrial houses, it can lead to bad lending …

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S&P sceptical of allowing corporates into Indian banking

A working group at the Reserve Bank of India recommended a series of changes, details of which were made public last week, that include allowing industrial houses to act as so-called bank promoters, meaning they could take a major stake in a lender….

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Proposed corporate ownership of Indian banks poses high risks, says S&P

Pointing to the upside from proposed norms, the agency said recommendation to harmonise licensing guidelines for all banks, new and old, will help restore a level playing field for all players …

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Allowing corporate houses to own banks could be disastrous: Raghuram Rajan & Viral Acharya

Rajan and Acharya have argued that allowing corporate houses entry into the banking system could intensify the concentration of political and economic power in the hands of a few business houses….

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Will India’s banking system go from being state-dominated to tycoon-led?

From the conditional nature of recommendation by RBI on ownership of private-sector banks, it doesn’t appear that the regulator will soon reverse its policy of keeping conglomerates away from banking …

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