Page 7 - Fintech

Fintechs don't have track record to evoke trust: RBI's T Rabi Sankar

Speaking at Global Fintech Fest 2024, Sankar noted that fintech cos largely not licensed by regulator, making it even more crucial for them to prove they can operate responsibly and earn public trust

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

SaaS startup Finarkein announces raising $4.75 mn in pre-series A round

Company's technology allows enterprises to co-create data products on India's digital public infrastructure

Fintechs asked to sign up on financial cyber fraud reporting portal

To also appoint a nodal officer to attend to customer grievances and engage with law-enforcement agencies to prevent fraud

NPCI incorporates NPCI BHIM Services Ltd as a wholly-owned subsidiary

Former banker Lalitha Nataraj will head the new subsidiary as its chief executive officer (CEO). Nataraj has previously worked with IDFC FIRST Bank and ICICI Bank

Cross-border payments fintech Skydo raises $5 mn from Elevation Capital

The firm had previously raised $5.2 million in a seed round led by Elevation Capital in 2022

Regulations have helped fintechs in governance

Fintechs in India have a young, technologically savvy population and a well-placed digital infra. Steps taken to ensure regulatory clarity and transparency are improving investor sentiment

Fintech solutions can positively impact income, savings: CEA Nageswaran

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

Help PSBs create credit assessment model for MSMEs: DFS secy to fintechs

Joshi also emphasized that fintechs need to strike a balance between regulatory requirements and innovation while working to resolve challenges faced by banks

Razorpay eyes $750 billion P2M payments by 2030, says CFO Arpit Chug

The startup, which is valued at over $7 billion, is intensifying its efforts to achieve profitability in all of its businesses and move its domicile to India, as it is planning an IPO in 2-3 years

Small and worrying: Loans under Rs 50K are on Reserve Bank of India's radar

Regulator wants banks and fintechs to review exposure limits for consumer credit

Decoded: What is Agristack system? How will it benefit agriculture sector?

In her Union Budget speech, Nirmala Sitharaman announced the Agristack DPI while adding that it will bring over six crore farmers under the formal land registry system

India's economy holds strong but no thaw in fintechs' funding winter

Funding in first half of this calendar year is at $795 mn, a decline of 11% from second half of 2023

Small and safe? Banks, fintech loans under Rs 50,000 on RBI radar

Scrutiny strengthened after regulated entities were in November asked to review exposure limits for consumer credit

Union Budget 2024: Here's what startups, investors expect from Modi 3.0

Expectations rise for investments, simplified tax norms, and sectoral support

Group representing NBFCs seeks revisit of membership norm for SRO

Finance Industry Development Council has sought a meeting with the central bank

Fundamentals strong for global fintech

Funding for the sector hit a three-year low last year but revenues improved

Crypto exchange platform CoinDCX acquires MENA region's BitOasis

This comes nearly ten months after CoinDCX invested in the company, marking one of its earliest investments in the MENA region

RBI, four Asean countries tie up for cross-border payments platform

Project Nexus is aimed at making retail cross-border payments efficient, faster and cost-effective, the RBI release said