Banking, Finance, Insurance

“Mooh Band Rakho” Campaign by HDFC Bank Conducts 1000 Workshops

22Mar

By MediaCatalystNo Comments

“Mooh Band Rakho” Campaign by HDFC Bank Conducts 1000 Workshops

Mumbai: HDFC Bank’s “Mooh Band Rakho” campaign about safe banking practices successfully conducted its 1,000th workshop this March. The bank had launched a 360-degree campaign in November 2020 to educate people about Cyber Frauds and Secure Banking ways to counter online fraud. The bank leveraged print and digital medium to reach over 7 crore individuals. General public appreciated the online leg of the campaign which allowed them to evangelize the message with artificial reality filters launched by the bank. The workshops were conducted for a host of audiences ranging from Law Enforcement Agencies, Senior Citizens, Channel Partners, Housing Societies and Educational Institutes. The campaign was widely endorsed by Police Officials, National Payment Corporation of India, and ACI Wor...

Eduvanz Launches Digital Lending for Parents to Pay K-12 School Fees

16Mar

By MediaCatalystNo Comments

Banking, Finance, Insurance, News

Eduvanz Launches Digital Lending for Parents to Pay K-12 School Fees

Eduvanz, a fintech Non-banking Finance Company (NBFC) that enables students to Study Now, Pay Later at 0% interest rates has launched Digital Lending for parents at Zero Cost to pay their ward's school fees. Eduvanz helps parents to convert school fees into easy and simple subscription-based Zero Cost EMIs with the benefit of repayment in 3 months to 9 months without any processing fee. An amount of Rs 300 crore will be disbursed during the next 3 years. The K-12 edtech market in India is projected to be worth $1.7 billion by 2022, up more than six-fold from $265 million in 2019. Varun Chopra, CEO and Co-Founder of Eduvanz said, “After a survey conducted involving 10,000+ parents, we understood that there is requirement for a product that could make finance easier f...

15Mar

By MediaCatalystNo Comments

Banking, Finance, Insurance, News

Mswipe Launches Micro ATM Service for SMEs

Mswipe, a financial services platform for SMEs, today launched ATM Express, a micro ATM which allows merchants to offer their point-of-sale (POS) terminals to customers for cash withdrawal, check bank balance among other features. The ATM Express will help merchants bring additional footfalls and add revenue stream through commission. Mswipe will utilise ATM Express to increase access to banking facilities through its SME network, especially in Tier 2, 3 and 4 cities with limited ATM facilities and bank branches. According to RBI, till June 2020, there were an estimated 84 crore debit card holders and about 2.10 lakh onsite and offsite ATMs in India. On an average, there is one ATM for 4,000+ debit card holders, and even fewer in Tier 3 and 4 cities. Mswipe’s ATM Express is a cos...

TRUSTMF Banking & PSU Debt Fund NFO Raises Rs. 582.68 Crore

4Feb

By MediaCatalystNo Comments

Banking, Finance, Insurance, News

TRUSTMF Banking & PSU Debt Fund NFO Raises Rs. 582.68 Crore

TRUST Mutual Fund’s maiden new fund offer (NFO) - TRUSTMF Banking & PSU Debt Fund has successfully raised Rs. 582.68 Crore. This is one of the recent NFOs with an extremely positive response. The first day AUM after the closure of NFO is Rs. 580.24 Crore. The NFO proceeds have been garnered from over 500 investors spread across 44 locations# through both digital & offline modes. The NFO has seen wide participation from both Institutional, Corporate, Family Offices, HNI, and Retail Investors, which is an indication of the faith posed by them in a well- structured & transparent investment process with a unique LimitedACTIV methodology developed by Trust AMC in a strategic knowledge partnership with CRISIL. CRISIL will also assist in the process of filtration of investment uni...

Managing Unplanned Expenses with an Instant Loan App

11Jan

By MediaCatalystNo Comments

Banking, Finance, Insurance, Column

Managing Unplanned Expenses with an Instant Loan App

In a rapidly evolving economy, expenditure patterns also evolve rapidly. Especially in today’s age, one that is increasingly dominated by millennial professionals. With the tremendous rise in the corporate culture (and rising costs of living) in all the metropolitans, unplanned and contingent expenses are off the roof. More than any time before, people want that dream vacation or the dream car or that spontaneous shopping plan or road trip. Millennials have been characteristized with that go-getter attitude - they need it all, sometimes without even having the saved up money for it. The need for money for unplanned expenses saw a further surge during the COVID-19 pandemic, where people suddenly saw unexpected medical expenses or even day-to-day expenses mounting up while the entire ec...

Razorpay Announces Plans to Achieve $50 Billion TPV by 2021

18Dec

By MediaCatalystNo Comments

Banking, Finance, Insurance, News

Razorpay Announces Plans to Achieve $50 Billion TPV by 2021

New Delhi, Dec. 18, 2020: Razorpay today announced its plans to achieve $50 Billion TPV (Total Payment Volume) by the end of 2021 and further solidify its position as one of the largest full-stack fintech company in the country. The company launched a string of products, aimed at empowering the next phase of digital growth for Small Businesses in India. These products were launched today at the Third edition of FTX, its flagship fintech conference that brought together 50+ thought-provoking speakers and was virtually attended by 10,000+ fintech enthusiasts from across the globe. With most of the country slowly reeling back to normalcy, it's encouraging to see 75% SMBs recognising the importance of going digital to revive their businesses. Even the freelancer economy is flouri...

Access to Formal Credit Still Not Available to Students in India: CEO, mPokket

19Nov

By MediaCatalystNo Comments

Banking, Finance, Insurance, Interviews

Access to Formal Credit Still Not Available to Students in India: CEO, mPokket

As a student or young professional, almost everyone has sought peer-to-peer financial help, particularly in India wherein formal credit to students does not exist till date. Mr. Gaurav Jalan saw this as an opportunity with great growth potential and went ahead to establish mPokket to address this credit gap for students and working professionals. Mr. Jalan talks to MediaCatalyst about mPokket's journey and business model. Here are the excerpts from the interaction with Mr. Jalan, CEO and founder, mPokket. What's the inspiration behind mPokket? Tell us a bit about mPokket's journey. mPokket was created to help those excluded from the traditional financial system to obtain credit. The inspiration came from my life experience. Even as a foreigner and a fresh college student i...

21Aug

By MediaCatalystNo Comments

Banking, Finance, Insurance, Column

Leveraging Technology to Become Agile in the Face of FDIC 370 Mandate

Author: Sanjay Bajaj, Senior Vice President, BFSI, Birlasoft The FDIC 370 mandate calls for massive transformation in banks' governance and data collation capabilities. With a stringent deadline in place, digital intervention is essential to help banks meet compliance standards. At Birlasoft, we believe that a flexible reporting solution holds the key. The recent spate of regulatory changes announced by the Federal Deposit Insurance Corporation (FDIC) calls for a large-scale transformation in banking processes. Last year, the FDIC introduced Part 370 of its rules and regulations for "Recordkeeping for Timely Deposit Insurance Determination." Specifically, it brings large banks under the ambit of the new law. The core purpose of Part 370 is to help FDIC fulfill its two mandates ...