Financial Services Technology

The ₹150-cr space allotment at Prestige Trade Centre stems from a 2020 insolvency resolution involving the defunct Ariisto Developers

Land parcel is situated in Juhu, a prime Mumbai locality

The Department of Financial Services (DFS) on Wednesday organized a coordination meeting on vigilance matters of PSBs

Joshi was made the head of a 15-member Health Insurance Consultative Committee set up by Irdai in October. He has more than 37 years of experience in the financial services industry

Such entities have a variable capital base as they issues and redeems shares on an on-going basis. With every issue or redemption, the capital base of the VCC changes

The biggest gains came to banks, which reported a 35.8 per cent YoY growth rate in their combined net profit in Q2 FY23

Murugappa group's financial services unit says bad loans are down and it expects AUM to grow 25% this financial year

Company raised $22 million in funding in March earlier this year at a valuation of $120 million

The card will also get multiple benefits for shopping across other categories ranging from groceries to fuel

Firm says users don't need to upload documents before making a purchase and they can view their policy documents instantly

Walmart-owned PhonePe has become the fastest-growing insure-tech distributor in India within just 9 months of the insurance category going live on the digital payments app

Deal activity in the financial services technology (fintech) space continues to remain strong, with start-ups announcing a fund-raise every second week. Since 2012, investors have pumped about $2.35 billion (Rs 15,000 crore) into fintech firms in 325 deals, says data platform VCCEdge. The bulk went into payments ($875 million, 109 deals), consumer finance/lending ($875 mn, 109 deals), and other small niches. The $2.35 bn includes the financial software space - Mphasis was acquired by Blackstone for $824.6 mn in April 2016. Even if one excludes deals in financial software, the fintech tally adds to $1.53 bn (Rs 9,800 crore) and this doesn't include SoftBank's $1.4 bn investment in Paytm.Why so? Why are investors bullish on fintech? That's because this is the next biggest space after e-commerce in India, says Anand Prasanna, managing partner at Iron Pillar, a venture growth investment entity. Amrish Rau, chief executive officer (CEO) at Naspers-owned PayU India, thinks investors feel ..