BANKING AUTOMATION
ONDC to add banks, fintechs to take credit services to last mile
The homegrown Open Network for Digital Commerce (ONDC) will soon integrate banks such as HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech companies like Fibe, sources told us. This comes as the network began early pilots for credit disbursal through its platform, by partnering with Tata Group superapp Tata Neu and Paisabazaar.
73% IPOs trading above issue price as primary market shines in H1, four turn multibaggers
The fundraising of Rs 26,272 crore, however fell short of the previous two years likely due to the absence of mega issues. Investors' reception also remained positive with only one failed IPO.
Automating repetitive tasks: AI for invoicing, inventory, and more
World MSME Day: The ability of AI to manage repetitive, time-consuming, and error-prone tasks revolutionizes business operations, resulting in accuracy, speed, and cost savings.
These 7 bank stocks can give more than 22% returns in one year
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Real estate growth strongest in greater Mumbai region, says Mahantesh Sabarad
The Mumbai real estate sector, particularly in the greater MMR region like Thane, has thrived in the past two years, outpacing traditional growth markets. Companies like Raymond, Oberoi Realty, and Godrej, with investments in this area, are poised for strong performance amidst upcoming metro projects.
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AI will eliminate certain roles, but will create more jobs than it eliminates: Deloitte AI exec
In an interview with PTI, Tandon, Managing Director, AI and Insights Practice Leader, Deloitte LLP, said AI will not snatch jobs, but will simply do away with some of the easier jobs, and create new roles.
These Paytm wallets will be closed on July 20, 2024
Latest on Paytm: In March, the Reserve Bank of India (RBI) issued guidelines that prohibit Paytm Payments Bank Account/Wallet from receiving new deposits or authorizing credit transactions beyond March 15, 2024.
These 8 bank stocks can give more than 25% returns in one year
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
We are investing in automation, digitisation and generative AI: Jennifer Tippin, Group COO, NatWest Group
Jennifer Tippin, Group COO, NatWest Group, said, "India is our second largest location outside of the UK, housing a quarter of our global workforce and half our technology workforce. We’ve been growing our presence here as our customers’ needs have changed, requiring more digitisation, enhancing our propositions and experiences. So, we’ve grown our capability here substantially - it’s more than just operations now."
Banks draw attention of Govt, RBI to ATM shortage
Banks have alerted the government and the banking regulator Reserve Bank of India about shortages in automated teller machines (ATMs). They have also advocated for clearer procurement norms through the government e-marketplace (GeM) portal. Industry insiders mentioned that the initial low capacity issue is linked to the 'Make in India' guidelines implemented in FY20. Vendors took time to establish operations in India, contributing to the supply constraints.
Steering climate risk: How banks can be future-ready
Companies worldwide are assessing climate change risks, including the banking and financial services sector. Climate variability impacts sectors like agriculture, infrastructure, and energy, heavily reliant on banks for financing.
These 7 bank stocks can give more than 20% returns in one year
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
RBI’s ASISO system faces glitch
The RBI faced a technical glitch in the Automatic Sweep-In and Sweep-Out (ASISO) facility, impacting banks' funds visibility. Daily money market data publication was delayed. The RBI is resolving the issue to reconcile banks' outstanding transactions. Market participants, bank treasury executives, and sources are monitoring the situation. The glitch occurred before the usual 9 a.m. data publication time.
RBI suffers system failure in automated system for banks’ liquidity management
The Reserve Bank of India faced a technical glitch in the ASISO facility, impacting funds visibility. Daily money market operations data publication was delayed. RBI is working to reconcile banks' outstanding lending or borrowing, ensuring SDF and MSF bids are managed effectively.
For an AI lesson, India must look back — 300 years
The profound impact of the industrial revolution on cotton-spinning may be poised for a repeat in a $250 billion white-collar powerhouse. As generative AI morphs into artificial general intelligence — machines rivaling human cognitive abilities — even highly complex tasks may not require expert programmers.
Online banking, a lengthier long-distance relationship
The banks (and other companies) were getting you to do their jobs for them and charging you for this, in both time and money. There was no discussion around this, no negotiation, nothing. This was the first of many digital fait accomplis of which you would shortly become the victim.
Honeywell Automation declares Rs 100 dividend along with Q4 results
Honeywell Automation’s net profit for the quarter ended March 31, 2024, was reported at Rs 148.2 crore, up 32% YoY from Rs 112 crore for the same period a year ago. Ashish Gaikwad has resigned as MD and Atul Vinayak Pai has been appointed in his place.
Canarys expands global presence with strategic acquisition in North America
Canarys Automation Limited expands globally by acquiring a North American software services company, enhancing its digital innovation and service delivery standards. The company's strategic moves reflect a commitment to growth and excellence in digital transformation.
10 Best Smart Switches under 1000: Home Automation on a Budget
Explore our comprehensive guide to the top 10 smart switches under 1000 rupees, offering convenience and efficiency for your home automation needs. From voice control compatibility to scheduling features, these budget-friendly options provide seamless integration into your smart home setup. Upgrade your home with affordable yet reliable smart switches without compromising on quality or functionality.
Chatbots are dead: How generative AI & automation is transforming the way we interact with technology
The future of AI interaction lies in the ability of these agents to serve not merely as conversational partners but as comprehensive guides and copilots.
Delhi businesswoman loses nearly Rs 1 lakh after an automated call from food delivery app
Delhi Police arrested two cyber criminals for duping a woman of Rs 97,000 through a food delivery app scam. The criminals used IVR technology to extract account information and then used the money to order items from the app. The police recovered incriminating evidence from the accused, including phones, SIM cards, and fake IDs. The criminals operated by buying items at discounted rates and reselling them for profit.
Tech extra care for compliance
RBI's crackdown on Paytm Payments Bank underscores the need for robust compliance. The surge in demand for legal and compliance experts reflects this trend. Automation can streamline compliance processes, particularly in areas like data privacy, AML/KYC, cybersecurity, contract management, environmental health & safety, policy management, and regulatory reporting. Leveraging AI, ML, RPA, APIs, automatic evidence attachment, and blockchain technology can enhance efficiency and accuracy in compliance efforts.
HDFC Bank, Axis Bank tap into AI for customer ops & loan automation
US analytics firm FICO has introduced its cloud-based platform in India, with leading banks such as HDFC Bank, Axis Bank, and AU Small Finance Bank opting for its services. FICO's platform aims to transform the banking sector by offering advanced decision-making and artificial intelligence capabilities, fostering innovation, and improving customer satisfaction.
This large cap mutual fund gave 18.07% returns in 3-year period; should you invest?
Baroda BNP Paribas Large Cap Mutual Fund: The fund retains preference for businesses that are growing faster than the industry and economy, with focus on leaders or market share gainers. It places high emphasis on interplay of macro factors and sectoral impact in allocating weights. It engages in active shuffling of sectors based on views on the economy and monetary conditions.
Ahead of Market: 10 things that will decide stock action on Monday
"On the weekly charts, we can observe that the Nifty has respected the support zone of 18800 – 18925 where multiple support parameters in the form of the 40 week average and a crucial Fibonacci retracement level was placed. Thus, going ahead the Nifty can consolidate within 18800 – 19200 before resuming the next leg of the fall.
Asian Paints, Honeywell Automation among 5 stocks with RSI below 30
Discover the significance of the Relative Strength Index (RSI) and its power in recognizing stocks trading in the oversold zone. We spotlight five stocks that have recently entered this territory, providing potential investment opportunities.
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