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WazirX dials FIU-IND, FBI to recover funds lost to $230 million heist

WazirX lost about 45 per cent of its crypto assets to the security breach. People privy to the discussions say North Korea has been mentioned

Navi Finserv closes $38 mn personal loan securitisation deal with JP Morgan

The transaction between the two firms, structured in the form of pass-through certificates (PTC), will be backed by a pool of unsecured personal loans. It will be originated and serviced by the NBFC

Paytm sees no impact of reduced UPI incentives on path to profitability

Company announced launch of first NFC card soundbox

CBDC retail pilot customers grow to 5 million till June 2024: RBI report

India is among 36 countries where the CBDC is currently in the pilot stage. RBI started the CBDC pilot during the end of 2022

WazirX unveils recovery plan after $230 mn cyberattack, seeks user vote

WazirX will socialise the loss and distribute its impact across all the users on the platform

RBI imposes a monetary penalty on three payment system operators

The RBI's action on KYC non-compliance comes as the regulator has been cautious about lapses in these procedures

Five entities enter test phase for 5th cohort of RBI's regulatory sandbox

The banking regulator received 22 applications for this cohort of the regulatory sandbox

Paytm shares hit upper circuit on govt nod for investment in payments arm

The stock price surged on the back of reports claiming that the company had received the government nod to invest Rs 50 crore in its associate entity Paytm Payments Services Limited (PPSL)

No evidence of systems being compromised: Cryptocurrency platform WazirX

A 'multisig' or multisignature wallet is a crypto wallet that requires two or more private keys to unlock and withdraw funds

Flight ops at Mumbai airport see temporary disruption due to heavy rains

IndiGo informed passengers about delays while advising them to check their flight status

DLAI adds former RBI execs to advisory council, aims for SRO-FT recognition

An SRO is a non-governmental organisation that acts as a bridge between industry players and the regulator. It also sets standards for the conduct of entities operating in the country

Cred launches product to track expenses, view total bank account balances

The new Cred product will be rolled out to its members in phases starting Thursday, making it one of the first fintechs to launch the offering

Credit on ONDC and OCEN awaits their 'UPI moment' as deployment begins

A lot of interest in joining an open network also boils down to how operational costs can be brought down in lending businesses. NBFCs and fintech could drive credit innovation on open networks

Paytm partners with Axis Bank to provide payment technology solutions

Fintech will provide point-of-sale and card machines to the private sector lender

Cashfree Payments gets payment aggregator-cross border licence from RBI

The Bengaluru-based company is one of the first non-banks to receive the PA-CB licence, according to the RBI's website

BlackSoil raises over Rs 200 cr debt in H1CY24, with 60% from new lenders

The firm said about 60% of the total debt funding raised during the first six months of 2024 came from new debt investors

PhonePe retains top position on UPI in June, Paytm's market share slips

Nearly one out of two transactions on the National Payments Corporation of India (NPCI)-run UPI are processed on fintech major PhonePe's platform

Economic Survey: DPI brings down KYC costs to Rs 6 from about Rs 1,000

The disclosure on KYC costs comes as the RBI has been cautious about KYC risks and has emphasised well-defined norms for market players

Economic Survey calls for identifying regulatory gaps in fintech sector

Sector move towards data-based lending instead of 'judgement-based lending', it says

Algo Rhythm: 85% respondents 'somewhat familiar' with AI, shows data

As many as 67 per cent respondents expect to use the technology in two to five years