Page 50 - Ajinkya Kawale

Compliance costs may spur fintech sector consolidation: Industry experts

The minimum cost of compliance has nearly doubled over the past year, say companies

India has over 19 million crypto investors with 75% youth: Report

Major metro cities such as Delhi, Bengaluru, and Mumbai account for over one-fifth of the total value of crypto investments in the country

Awaiting clearance on PA license, fintechs diversify into credit offerings

Meanwhile, other payment majors awaiting a decision expect to receive a nod in the first half of the next year

NIIF to invest Rs 675 crore in GMR's Bhogapuram airport in Andhra Pradesh

This is part of the financial partnership announced in December 2022 in which NIIF would invest in the equity capital of three airport projects of the GMR group

PhonePe launches section to help customers with credit score, bills

Fintech company says service will help users in understanding their credit health

Digital money heist: What's behind surge in online payment fraud?

More than 47 per cent of all cybercrime is linked to UPI payments, making it the most common form of financial fraud, says a report by FCRF

UPI transactions surge 118% in semi-urban & rural stores, shows report

Aadhaar Enabled Payments System (AePS) withdrawals increased 30 to 40 per cent during direct benefit transfer (DBT) releases

Razorpay, Cashfree receive final RBI nod for payment aggregator biz

Other players such as PayU, Paytm, JusPay, among others are yet to receive a nod from the regulator to onboard new merchants

Looking forward to ride credit on UPI wave: Amazon Pay India's Jain

Company aiming to redefine access and coverage in financial landscape by early 2024

IndiGo becomes first Indian airline to carry 100 mn pax in a single year

IndiGo operates over 2,000 flights per day. It flies to 86 domestic and 32 international destinations

Spicejet's domestic market share makes consistent gains towards 2023-end

Meanwhile, India's largest carrier, IndiGo, saw a marginal decline in its market share from 62.6 per cent in October to 61.8 per cent in November

Infibeam Avenues picks up 49% stake in Ahmedabad-based Pirimid Fintech

The partnership aims to combine Infibeam's digital payments and AI-based frameworks with Pirimid Fintech's capital market trading software for its clients nationwide and globally

IndiGo occupies sixth position in global mcap, surpassing United Airlines

On Wednesday, shares of InterGlobe Aviation, the parent company of IndiGo, ended 1.73 per cent higher at Rs 2,982.50 on BSE

Cloud-lending startup Lentra launches 3 AI products for financial sector

The company launched AI products, namely Lentra Convo, Lentra Insights, and Lentra Wingman, to serve lenders with solutions that enhance the lending processes

Aye Finance raises Rs 310 cr in funding round led by UK development agency

Digital lender provides working capital and small loans to micro-enterprises

Loan disbursements by FACE-fintech companies jump 43% in Q2: Report

These companies disbursed around 24.4 million loans in Q2 FY24, marking a 39 per cent Y-o-Y growth in volume from 17.5 million loans in Q2 FY23

CoinSwitch unveils umbrella brand PeepalCo; aims for wealth-tech expansion

The company said the leaders of each business segment will have independent operational and financial accountability

RBI allows REs to use HDFC Bank-Crunchfish AB's offline payments product

HDFC Bank had stated that it would roll out this service as part of a limited pilot for four months in over 16 cities and towns across India

Mumbai airport handled the highest-ever 4.46 mn passengers in November

On 25 November, the airport experienced peak activity, recording a footfall of 167,132 passengers. This figure comprises 120,000 domestic and more than 46,000 international passengers

Unsecured loan concerns: Fintechs explore long-term loans after RBI alert

Meanwhile, for the past few months, the regulator has been cautious about the increase in unsecured personal loans, which can spiral into potential bad loans