The Indian police registered approximately 193,000 economic offences in 2022, an 11% growth from the previous year. These crimes accounted for 5.4% of all the crimes reported that year. Furthermore, the National Crime Records Bureau (NCRB) has broadly divided economic...

In June 2024, the Punjab & Bank signed an MOU with the Indian Army to facilitate salary accounts. HDFC Bank is also set to take over 60,000 salary accounts of employees and pensioners of the Southern Railway. The salary account...

Recently, cybercrime authorities froze approximately 450,000 suspected mule bank accounts. The State Bank of India reported nearly 40,000 detected cases, making it a primary target. As digital transactions surge and fraud tactics become increasingly sophisticated, vulnerabilities in how banks verify...

With the advancement of online banking and globalisation, lenders are exposed to money laundering and financial fraud more than ever. The latest UN findings reveal that criminals launder between $2.22 and $5.54 trillion annually, equivalent to 2% to 5% of...

India’s digital lending market has grown from strength to strength. In the financial year 2023-24, the sector experienced a remarkable 49% increase in disbursements, totalling ₹1.46 trillion across over 10 crore loans issued. A significant growth in the number of...

Evaluating an applicant's creditworthiness is essential in the loan approval process. Analysing bank statements for loan approval offers lenders a comprehensive view of the applicant's credit health. Lenders have traditionally relied on paper statements for credit health assessment. However, as...

The demand for credit among diverse audiences in India continues to rise. This has created opportunities for lenders to scale quickly and deliver more value to their customers. For instance, a recent survey indicated that in the Financial Year 2024,...

Over the last five years, the fintech industry in India has grown by leaps and bounds. As of September 2024, the combined valuation of all Indian fintech startups was estimated to be $125 billion. However, despite their success story, startups...

India's digital transactions skyrocketed from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24, with a stunning CAGR of 44%. While digitisation brings convenience, it also fuels sophisticated fraud threats. However, the solution may lie within the problem...

The rise of non-banking financial companies (NBFCs) in India can be attributed to their impressive credit appraisal systems and inefficient conventional banking sector. With an impressive CAGR of around 18.7% between 2005-2006 and 2019-2020, NBFCs are among the fastest-growing sub-sectors...