Page 42 - Ajinkya Kawale

Amazon Pay to ramp up Smart Store services partnership with top 20 brands

The company has launched 18,000 Smart Stores in the country since its inception in 2019

Loan distribution by FACE members rise by 12.2% to 24.8 mn in Q3FY24

The report added that 12 per cent of loans distributed between April and December 2023 went to women

6 in 10 find hidden charges on online banking platforms, shows data

The survey received over 44,000 responses from users of online banking located in 363 districts of India. Its findings are related to 'dark patterns'

Fintechs lead small-ticket loans' volume with 77% market share: Study

On the value front, fintechs cornered 29 per cent of small ticket loans disbursed in FY18, which rose to 51 per cent in FY24 (till September 2023)

YES Bank, Axis Bank go live as payment service providers for Paytm

YES Bank has gone live as a PSP bank with a closed group of users with the @ptyes handle. Similarly, Axis Bank is live with a closed group of users with the @ptaxis handle

Paytm gets nod to continue UPI via State Bank of India, three others

Four banks-- Axis Bank, HDFC Bank, State Bank of India, YES Bank will act as Payment Service Providers (PSPs) to Paytm

InMobi's lock screen platform Glance targets 1 billion users by end of 2025

The company currently has a global base of over 450 million users, whereas the active users in India are pegged at 235 million

Layoff fears at Paytm as deadline for bank cutback just a day away

In Dec, Business Standard reported that Paytm was rationalising its employee cost structure, which includes revising its hiring strategy, focusing on contract employees

Fino Payments Bank appoints two new independent directors on its board

The Mumbai-based Fino Payments Bank has appointed Anita Sudhir Pai and Neeta Mukerji as additional directors in the capacity of independent directors of the bank

Perfios secures $80 million funding, set to become 2nd unicorn of 2024

Perfios helps financial institutions with processes such as origination, onboarding, decisioning, underwriting, and monitoring

Use of Indian languages key for increasing internet access in India: Report

It shows 57% prefer accessing internet in Indian languages

Fintechs lead small-ticket loans' volume with 77% market share: Report

Fintechs accounted for 50% of the loan volumes disbursed with a ticket size less than Rs 1,00,000 in FY18

Rakesh Gangwal mops up Rs 6,786 crore from 6% stake sale in Indigo

At the end of December 2023 quarter, Rakesh Gangwal directly held 11.72 per cent stake in the company, the shareholding pattern data shows

Reserve Bank of India widens scope of BBPS to non-bank payment aggregators

Number of participants on BBPS to go up with participation of PAs

NEFT records a high of 41 million transactions in a single day: RBI

The banking regulator said its NEFT system has registered a growth of 700 per cent in terms of the volume of transactions in the past ten years

Paytm discontinues inter-company ties with payments bank amid RBI scrutiny

Paytm founder Vijay Shekhar Sharma owns 51 per cent of Paytm Payments Bank, while the remaining 49 per cent is owned by One97 Communications Ltd (OCL)

Fintechs raise UPI payment charging concerns with FM Nirmala Sitharaman

The MDR on UPI payments has been a longstanding demand from the fintech industry, asserting they don't generate revenue from such transactions

RBI revises timeline for completion of Regulatory Sandbox process

The updated framework for an RS also requires sandbox entities to ensure compliance with provisions of the Digital Personal Data Protection Act, 2023

Electronics manufacturing will need over 4 mn people: Civil servant

Semiconductors emerging as 'big sector' in country as more investments come in, he says

Extra caution to ensure fintechs don't function beyond rule: Peak XV MD

Meanwhile, he explained that India needs to have a culture of research and development (R&D) with more number of deeptech innovators and founders at startups