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FPIs
in the September quarter, as per a report by Kotak Institutional Equities. The highest increase in stake by mutual funds was in Coforge, Sula Vineyards and Restaurant Brands Asia while banks and financial institutions increased their stake the most in Restaurant Brands Asia, Union Bank and Amara Raja, the report said. The highest decrease in stake by MFs was in Supreme Industries, LIC Housing Finance and Ashok Leyland while for BFIs it was in Dr Reddy's Laboratories, Ujjivan Small Finance Bank and Colgate Palmolive. In the September 2023 quarter, FPIs bought about $2.4 billion worth of equities in the secondary market. FPIs bought diversified financials, electric utilities and IT services
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DIIs bought around $5.1 billion of equities in the September quarter. DIIs bought stocks in banks, consumer staples and IT services sectors and sold capital goods stocks, the report said. FPI holding (including ADR and GDR) in the BSE-200 Index stood at 21.4 per cent in the September quarter. DII holding in the BSE-200 Index increased to 15.7 per cent in the September quarter from 15.5 per cent in the June quarter. FPIs were overweight on banks and real estate; underweight on consumer staples and metals & mining. Advertisement
MFs were overweight on automobiles & components and pharmaceuticals; and underweight on consumer staples and oil, gas & consumable fuels, the report said. {{}}
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FPI stake: Coforge, IDFC First Bank and Patanjali Foods see highest increase in Sept quarter

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The Department of Financial Services (DFS) on November 28 held a meeting with banks, payment companies, and other entities to discuss issues related to online fraud in the financial services sector, the Finance Ministry said in a press release . Who attended the meeting: Officials from State Bank of India (SBI), Bank of Baroda, Canara Bank, Punjab National Bank, HDFC Bank, ICICI Bank, IDFC First Bank, Airtel Payment Bank, Equitas Small Finance Bank, Google Pay, Paytm, Razorpay, the Department of Financial Services (DFS), Department of Economic Affairs (DEA), Department of Revenue (DoR), Ministry of Electronics and Information Technology (MeitY), Department of Telecom (DoT), Reserve Bank of India (RBI), Telecom Regulatory Authority of India (TRAI), Unique Identification Authority of India (UIDAI), Indian Cyber Crime Co-ordination Center (I4C), and National Payments Corporation of India (NPCI). What was discussed in the meeting:
Facilitating coordination between police and financial entities for real-time tracking and blocking of defrauded money. Bringing all financial institutions including NBFCs and major cooperative banks to the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS). Developing a strategy to tackle the menace of mule accounts. Banks to improve the response time in handling fraud alerts received from different agencies. Appointment of regional nodal officers by financial institutions to work with law enforcement agencies. Maintaining a central registry of onboarding of merchants and standardisation of KYC. Whitelisting of digital lending apps after consultation with relevant stakeholders. Status of implementation of recommendations made by the Digital Lending Working Group including setting up of Digital India Trust Agency (DIGITA) and bringing in the Banning of Unregulated Lending Activities (BULA) Act. Financial institutions to undertake more customer awareness and sensitisation programmes on digital payment security. I4C shared the latest statistics on digital payment fraud as reported in the National Cyber Crime Reporting Portal (NCRP), sources of these financial frauds, and modus operandi. SBI presented its Proactive Risk Monitoring (PRM) strategy. Paytm and Razorpay shared best practices adopted by them to mitigate such frauds. No updates on proposals by the Parliamentary Standing Committee: The Parliamentary Standing Committee on Finance in July outlined five recommendations to tackle cybersecurity concerns in the financial sector: Establish a new Cyber Protection Authority, introduce more dynamic and proactive regulations, formulate a more responsive consumer grievance redressal mechanism, strengthen cybersecurity law enforcement capabilities, and improve global coordination and collaboration. The Finance Ministry did not provide any updates on whether or not these recommendations are being considered. Also Read

Finance Ministry meets with banks, payments companies to discuss online fraud

Paytm deploys 10,000 devices for digitising panchayat payments
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The company has already received a mandate to implement QR/Card Machines and soundbox for more than 7,000 gram panchayats in Andhra Pradesh, in collaboration with major banks such as HDFC Bank, SBI, IDFC First Bank, and others. A direct mandate has also been received from Uttar Pradesh and Goa’s state department for the deployment of card machines and soundbox. ETtech
Financial services major Paytm has deployed nearly 10,000 payment devices such as soundbox, QR codes and card machines for the gram panchayats of several states in India, the company announced today. ET wrote on November 1 how temple donation payments and panchayat payments are going digital across the country and multiple pilots are being conducted. Elevate Your Tech Prowess with High-Value Skill Courses
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At panchayat offices, multiple payments like property taxes, water bills, electricity bills and other payments are done by villagers. Most of this was done through cash, but now multiple state governments have embarked on digitising these payments with the help of payment companies. The company has already received a mandate to implement QR/Card Machines and soundbox for more than 7,000 gram panchayats in Andhra Pradesh, in collaboration with major banks such as HDFC Bank , SBI, IDFC First Bank , and others. A direct mandate has also been received from Uttar Pradesh and Goa’s state department for the deployment of card machines and soundbox. Additionally, Paytm has already digitised more than 1,200 gram panchayats through its QR code and soundbox solutions in Gujarat, Andaman & Nicobar Islands, Maharashtra and Assam. “With the deployment of our iconic payment devices like soundbox, card machine and QR codes, we are redefining the digital landscape of gram panchayats and rural India. This will simplify fee collection processes for services like property tax, water bills, and electricity bills and more," said Abhay Sharma, chief business officer, Payments, Paytm
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Paytm deploys 10,000 devices for digitising panchayat payments

Kotak Mahindra Bank and HDFC Bank have lower exposure to unsecured consumer loans compared to peers like ICICI Bank and IDFC First Bank
Banking stocks were flat on November 21
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Shares of private sector lenders like HDFC Bank , ICICI Bank , Kotak Mahindra Bank , Axis Bank  and IDFC First Bank  traded flat on November 21 morning battered down by the Reserve Bank of India’s move to put a leash on unsecured consumer loans late last week. The Bank Nifty index traded mildly in green, up 0.2 percent as against 0.3 percent rise in the Nifty50, as of 10:10am. Following the RBI directive, shares of HDFC Bank and Kotak Mahindra Bank stayed flat on November 21, but ICICI Bank and IDFC First Bank shares slipped up to 5 percent. This performance reflected how investors viewed these banking names with regard to their exposure to unsecured retail lending. As per a Jefferies report, IDFC First Bank's exposure to personal loans, credit cards, and estimated loans to non-banking financial corporations (NBFCs) stood at 19 percent, 3 percent, and 24 percent, respectively. On the other hand, ICICI Bank's exposure to personal loans, credit cards, and estimated NBFC loans stood at 9 percent, 7 percent, and 20 percent, respectively. Related stories
Kotak Mahindra Bank and HDFC Bank, however, had lower exposure to unsecured consumer loans compared to peers like ICICI Bank and IDFC First Bank. The central bank revised its risk-weight for unsecured consumer loans, encompassing personal loans and credit card loans. Consumer credit, excluding housing, education, vehicle, and jewellery loans, will now attract 125 percent risk-weight assets (RWA). Credit cards for banks will see an increase in RWA to 150 percent from 125 percent earlier. NBFC major Bajaj Finance also suffered as shares tanked as much as 4 percent so far following the revised RBI mandate. The bearish sentiment was further amplified after the central bank suspended its two products - eCOM and Insta EMI Card. Analysts at Morgan Stanley feared that the RBI's product ban would spell trouble for Bajaj Finance as it restrict its fee-income in the upcoming quarters. The RBI had earlier increased the risk weight on consumer credit exposure of NBFCs to 125 percent from 100 percent. Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Moneycontrol News
first published: Nov 21, 2023 10:35 am
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HDFC Bank, Kotak Mahindra Bank trade flat, ICICI Bank down on RBI#39;s risk-weight mandate

Retail inflation at 4.87% in October
Food inflation rate sees mixed trend, oil and fat prices fall 14%, pulse prices rise 19%
Published: 14th  November 2023 07:25 AM  |           Last Updated: 14th  November 2023 07:25 AM  |  A+A A-
Image used for representational purpose only. (File photo | PTI)
Express News Service
NEW DELHI: Retail inflation reached a four-month low of 4.87% in October, primarily driven by a decrease in core and fuel inflation, as per the government data. In September, the Consumer Price Index (CPI) based retail inflation had dropped to a three-month low of 5.02%. The Reserve Bank of India’s Monetary Policy Committee (MPC) projected inflation at 5.4% for fiscal year 2023-24, down from 6.7% in the last fiscal. Overall food inflation remained unchanged despite underlying mixed trend. A base that turns adverse (inflation had seen a drop in the year-ago period) will somewhat restrict the downside to inflation for two months. Food inflation rate exhibited a mixed trend, with oil and fat prices seeing a fall of 14%, while pulse prices saw a rise of 19%. Cereal prices continue to show double-digit inflation with an 11% year-on-year (YoY) growth. Vegetable prices, which usually cause sharp change in retail inflation, remained stable with 2.7% rise YoY. Though month-on-month, vegetable prices rose 3.38%. Fuel and lights inflation fell 0.4% YoY. As per Gaura Sen Gupta, India Economist at IDFC First Bank, CPI moderation led by Core and base-effects. “The moderation was led by core inflation excluding tobacco which reduced to 4.3% in October from 4.6% in September. Food and beverages inflation remained elevated at 6.2%YoY in October v/s 6.3%YoY in September, led by cereals, spices and pulses. Broad-based pressure within food and beverages persists with 50% of food and beverages subcomponents by weight, seeing 6% or higher inflation in October,” said Gaura Sengupta. Dharmakirti Joshi, Chief Economist, CRISILil, said the fall in core inflation was broad-based, indicating lower input cost pressures on producers and hence, on retail prices. For the December quarter, Joshi expects some softening in food inflation with the kharif harvest entering the market, aided by government intervention,” said on the inflation numbers. “Oil prices remain an unknown, which could play spoilsport if the Middle East conflict escalates. We expect RBI to remain vigilant since headline inflation remains above the MPC’s 4% target and risks to food and fuel persist. Our base case for this fiscal is average inflation of 5.5% and the MPC maintaining the policy rate and stance,” Joshi further stated. NEW DELHI: Retail inflation reached a four-month low of 4.87% in October, primarily driven by a decrease in core and fuel inflation, as per the government data.In September, the Consumer Price Index (CPI) based retail inflation had dropped to a three-month low of 5.02%. The Reserve Bank of India’s Monetary Policy Committee (MPC) projected inflation at 5.4% for fiscal year 2023-24, down from 6.7% in the last fiscal. Overall food inflation remained unchanged despite underlying mixed trend. A base that turns adverse (inflation had seen a drop in the year-ago period) will somewhat restrict the downside to inflation for two months.Food inflation rate exhibited a mixed trend, with oil and fat prices seeing a fall of 14%, while pulse prices saw a rise of 19%. Cereal prices continue to show double-digit inflation with an 11% year-on-year (YoY) growth. Vegetable prices, which usually cause sharp change in retail inflation, remained stable with 2.7% rise YoY. Though month-on-month, vegetable prices rose 3.38%. Fuel and lights inflation fell 0.4% YoY.googletag.cmd.push(function() {googletag.display('div-gpt-ad-8052921-2'); });As per Gaura Sen Gupta, India Economist at IDFC First Bank, CPI moderation led by Core and base-effects. “The moderation was led by core inflation excluding tobacco which reduced to 4.3% in October from 4.6% in September. Food and beverages inflation remained elevated at 6.2%YoY in October v/s 6.3%YoY in September, led by cereals, spices and pulses. Broad-based pressure within food and beverages persists with 50% of food and beverages subcomponents by weight, seeing 6% or higher inflation in October,” said Gaura Sengupta.Dharmakirti Joshi, Chief Economist, CRISILil, said the fall in core inflation was broad-based, indicating lower input cost pressures on producers and hence, on retail prices. For the December quarter, Joshi expects some softening in food inflation with the kharif harvest entering the market, aided by government intervention,” said on the inflation numbers.“Oil prices remain an unknown, which could play spoilsport if the Middle East conflict escalates. We expect RBI to remain vigilant since headline inflation remains above the MPC’s 4% target and risks to food and fuel persist. Our base case for this fiscal is average inflation of 5.5% and the MPC maintaining the policy rate and stance,” Joshi further stated. Follow The New Indian Express channel on WhatsApp

Retail inflation at 4.87% in October

Tata SIA Airlines, dba Vistara, is a full-service Indian airline. Vistara is a joint venture between Tata Sons and Singapore Airlines. It offers air carrier services, airbus fleet, passenger, and other services. The company was founded in 2014 and is based in New Delhi, India. In November 2022, Vistara merged with Air India.

Vistara

Mastercard (NYSE: MA) operates as a global technology company in the payments industry. The company's main services include facilitating safe, simple, and accessible digital transactions for individuals, financial institutions, governments, and businesses. It serves consumers, governments, and businesses. It was founded in 1966 and is based in New York, New York.

Mastercard

Indian banking company IDFC FIRST Bank , in partnership with Club Vistara , the the frequent flyer program of Vistara airline , and Mastercard , has announced the launch of a new travel credit card .

IDFC FIRST Bank partners with Club Vistara and Mastercard to launch travel credit card

Crunchfish is a deep tech company operating in the financial and technology sectors. The company offers a Digital Cash platform that provides offline payment capabilities for Banks, Payment Services, and Central Bank Digital Currency (CBDC) implementations, and a Gesture Interaction technology that allows users to interact with devices without physical contact, optimized for Augmented Reality/Virtual Reality and automotive use cases. Crunchfish primarily serves the banking, payment services, and technology industries. It was founded in 2010 and is based in Malmo, Sweden.

Crunchfish

As a result of the successful RBI pilot project to enable offline payments with Digital Cash , Crunchfish today entered a commercial license agreement with IDFC FIRST Bank in India .

Crunchfish sign first Digital Cash commercial agreement

Maruti Suzuki is a company that focuses on the automotive industry. The company's main offerings include a variety of vehicles such as hatchbacks, sedans, multi-utility vehicles (MUVs), and sport utility vehicles (SUVs). It was founded in 1981 and is based in New Delhi, India.

Maruti Suzuki

The partnership with IDFC FIRST Bank Limited will further allow Maruti Suzuki India Limited to expand its range of financing options and provide customers with greater flexibility and choice .

Maruti Suzuki India : ties up with IDFC FIRST Bank to offer personalised car finance options

Mumbai Indians is a franchise cricket team that plays in the Indian Premier League (IPL). It is based in Mumbai, India.

Mumbai Indians

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IDFC First Bank (NSE: IDFCFIRSTB) operates as a private-sector universal bank. The bank offers a range of financial products and services, including savings accounts, credit cards, and loans, with a focus on customer-first products and technology-driven services. It primarily serves the consumer and micro, small, and medium enterprises (MSME) sectors. It was founded in 2015 and is based in Mumbai, India.

Name	Work History	Title	Status
Srishti Sethi	GE Commercial Finance, and The Associates	Chief Revenue Officer	Current
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