Page 13 - Fintech Sector

Fintechs can't bypass compliance irrespective of scale, says RBI ED

'Trying to level the playing field between traditional lenders & fintechs'

SaaS major Zoho forays into fintech space, launches Zoho Payments

According to the ministry of finance data, digital payment transactions volume reached a staggering Rs 11,660 crore in 2023 from Rs 3,134 crores in 2018-19

India sees nearly 2x surge in fintech IPO filings over the past five years

IPO filings have surged, nearly doubling from an average of 75 per year in 2018-2019 to 120-140 annually between 2021 and 2023, according to a new report

Bank-fintech tie up will boost innovation, risk management: RBL CEO

The experience of banks and non-banking financial companies (NBFCs) in risk underwriting and risk assessment will help in improving customer experience

India to play prominent role in rule-making for fintech, DPI, says official

India has always been a "rule-taker" but it has a prominent role to play in rule-making in the fin-tech solutions and DPI area given that most of these technologies are made in the country, a senior diplomat said on Wednesday. Dammu Ravi, Secretary (Economic Relations), Ministry of External Affairs, said India wants to collaborate with the World Bank and the International Monetary Fund to help set standards for digital payments, blockchain technologies, and cyber securities. India is also trying to build and help countries in the global south with DPI (Digital Public Infrastructure). "For a long time, India has always been a rule-taker. We just complied with the rules made by the global community, largely driven by the Western nations. But in the fin-tech solutions, fin-tech technologies, and the DPI world, India has an eminent role to play in rule-making because most of the technologies are made in India," Ravi said while addressing Global Fintech Fest in Mumbai. The youth of Indi

RBI focusing on making UPI, RuPay truly global, says Governor Das

RBI grants license to FACE as self-regulatory org in fintech sector

UPI transactions can touch 100 bn in next 10-15 years: Dilip Asbe

He was responding to a question posed by Kunal Shah, serial entrepreneur and founder of Cred, at the Global Fintech Fest on what will bring the next millions to the UPI ecosystem

Paytm Payments gets govt nod; can now resubmit its PA application

The company said that, in the meantime, PPSL will continue to provide online payment aggregation services to existing partners.

PM Narendra Modi to address Global Fintech Fest on August 30 in Mumbai

The GFF is an annual fintech conference, and this year it is scheduled between August 28 and 30

Fintech major PhonePe introduces 'credit line on UPI' on its platform

The option also allows merchants on PhonePe's Payment Gateway to offer customers an additional payment option at the time of checkout

Banking solutions fintech TransBnk raises $4 million in series A round

The platform has supported over 5,000 accounts, including escrows, and processed more than 50 million transactions

BharatPe launches secured loans for merchants, expands credit offerings

Merchants on the fintech platform can avail of two-wheeler loans up to Rs 2.5 lakh from OTO Capital, with a repayment period ranging between 12 and 48 months

Pine Labs secures NCLT approval to merge domestic, Singapore entities

The development comes as the Singapore-based digital payments company is shifting its domicile back to India. The cost of the reverse flipping could not be ascertained

Slice gets NCLT nod for its merger with North East Small Finance Bank

This paves way for official merger, combining Slice's digital prowess with North East Small Finance Bank's banking expertise to deliver a superior financial experience to Indian consumers, it said

Mahindra Finance names Bijoy Thaplial CBO, Mod Narayan Singh as CCO

Thaplial will lead the vehicle leasing and subscription business, Quiklyz, while strengthening execution strategy across all payment products

Rural fintech startup Jai Kisan gets RBI approval for NBFC acquisition

Rural fintech startup Jai Kisan on Tuesday said it has received regulatory approval from the Reserve Bank of India for the acquisition of a majority stake in NBFC Kushal Finnovation Capital. Details of the stake acquired were not disclosed. "With the NBFC subsidiary, Jai Kisan will be able create and deliver customized, innovative, and relevant products directly to its farmer and rural business customers in a more accessible and seamless manner making its products cheaper, faster, and more impactful," Jai Kisan said in a statement. The acquisition will also enable Jai Kisan to strengthen its partnerships and integrate systems more deeply with its financial institution partners to provide co-lending and further financial inclusion, it added. "The NBFC subsidiary allows us to cater to our farmer and rural business customers with credit products they want, how they want them, when they want them and where they want them--which is what they deserve," Jai Kisan co-founder and CEO Arjun

Fintech solutions can positively impact income, savings: CEA Nageswaran

Says fintech industry should be aware of the challenges that fintechs may pose to society

With GFF coming up, focus on bridging gap between regulators, fintechs

The three-day event comes at a time when the fintech sector, spanning areas such as digital payments, lending, insurance, and wealth, continues to expand in the country

PB Fintech posts consolidated net profit at Rs 60 crore in Q1 FY25

The overall adjusted Earnings before Tax, Interest, Amortization, Depreciation (EBITDA) margin improved from (-)31 per cent in Q1 FY24 to 12 per cent in Q1 FY25

WazirX fallout: On crypto bourses table, a reparation fund for clients

Traditional insurance products for crypto difficult ask: Experts