Close to half of Indian consumers — 43% — indicated that their household income had declined since the beginning of the Covid-19 outbreak, credit bureau Experian said on Wednesday. To deal with their changed financial circumstances, consumers have changed their behavioural patterns, cutting down on discretionary spends and setting aside more funds for emergencies.
The Narendra Modi led government hasn’t shied away from pushing banks to lend. From the MUDRA scheme to psbloansin59minutes.com and now ‘Kashi’ — an idea which could lead to banks lending against direct benefit transfers due to crores of Indians.
The consumers are changing their approach and increasing their interest and awareness regarding the value of the information they provide to the businesses. 69 per cent of Indian consumers believe that the gradual change in the trajectory of customer experience is seen due to the result of their data being used, says one of the leading credit bureaus Experian in its 2020 Global Identity & Fraud Report.
Experian recently released the Experian 2020 Global Identity & Fraud Report. One of the key findings is that consumers seem to have a heightened awareness about the value of their information with about 69% of Indian consumers saying they like the changes being made to the customer experience as a result of their data being used.
Dublin headquartered consumer credit company Experian has tied up with Chennai-based technology distributor Redington India to market the former’s software solutions to the banking, financial services and Insurance (BFSI) industry.
The Reserve Bank of India (RBI) on Friday slashed its key policy rate for a second time this year in an emergency meeting to counter the economic fallout from an ongoing nationwide lockdown to contain the spread of the coronavirus.
Banks will have to reduce their loan approval rate to 61% from the current 70% to maintain the bad loan ratio witnessed in 2009, a year after the global financial crisis, credit bureau Experian said in a webinar.
Reserve Bank of India (RBI) Governor Shaktikanta Das's announcement of rate cuts, forbearance on loans and liquidity easing measures were welcomed by analysts who said the economy requires stimuli in the present circumstances. Some of them also said that the RBI may have to deepen the rate cut if the COVID-19 crisis prolongs.
In an increasingly tech-centric environment, employee expectations are changing rapidly. Talent management, as a result, is now completely different from what it was just a few years ago. So how does an organisation transform its talent strategy to thrive in the digital age? This was the focus of the latest edition of Talent Talks, Shine.com’s marquee event that witnesses the confluence of renowned human resource HR leaders.
