Banking Sector

Yes Bank has initiated operations with a restricted user group utilizing the @ptyes identifier.

The NPCI, which handles UPI payments, is working with all banks to speed up the TPAP procedure by March 15.

This comes as the Reserve Bank of India (RBI) has criticised Paytm's payment banks for breaches in due diligence.

With credit cards constituting 1-20% of banks’ total loans, 30-80% of the cards being co-branded, and the recent increase in risk-weights — analysts of IIFL Capital Services expect the revenue to be impacted — less for large banks, but more for smaller banks and select NBFCs.

The partnership involves a comprehensive agreement with a total value of up to ₹150 Crore.

By the end of December, Kotak Mahindra Bank possessed a 9.80% share in KFin Technologies.

On March 11, the Supreme Court denied SBI's appeal for an extension until June 30, 2024.

Sectoral index story on risk, returns and valuations for February 2024.

Paytm and Payments Bank will stop inter-company relationships in order to dissociate their products and eliminate reliance.

The bank had received approvals from regulatory authorities for the plan to enhance its holdings in ICICI Lombard.