#Fincabulary 37 – Letter of Undertaking

Source: https://depositphotos.com/ The term LoU or Letter of Undertaking has recently been in news in wake of the banking fraud concerning Punjab National Bank and Nirav Modi. A LoU is a provision of bank guarantees under which a bank can allow its customer to raise money from another Indian bank’s foreign branch in the form of a […]

Budget Series 2018-19 : #2 Impact on Banking, Financial Services and Insurance Industry

By TJEF Editor Kriti Kanchan Sinha Finance Minister, Mr. Arun Jaitley presented the much-awaited Union Budget on 1st February, 2018. The budget was focused on rural India with agriculture, insurance, housing and MSMEs being the biggest gainers. There were no big announcements regarding the banking sector apart from a reiteration of the bank recapitalization plan. […]

Indian Banks going long on Data Analytics

By Manisha Sharma Source: https://i.pinimg.com/ Today companies like Paytm extensively use data analytics to provide an unparalleled experience to customers by extending faster and better services. If Indian banks don’t retaliate there are many other companies waiting in the wings to take away their businesses. Today, the need to build better data-centric products is driving the […]

Future of the Indian Banking Sector

– Manisha Sharma   Introduction: A decade ago, visit to a bank would mean spending money on travel, waiting in long queues and missing a half day’s work. Now, with the growing usage of digital banking, the number of visits to bank branches have reduced.  The latest innovation by HDFC Bank in the self-service channel […]