Page 8 - Fintech

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

Fintech company Olyv expects FY25 revenue to rise 40% on expanded user base

Fintech firm Olyv expects its FY25 revenue to grow by 40 per cent to Rs 350 crore mainly on account of increase in user base, large ticket loans and expansion of portfolio, a top company official said on Monday. The company claims to have more than doubled its revenue to around Rs 250 crore in FY24 on a year-on-year basis. "Olyv has shown remarkable growth, with current revenue reaching Rs 250 crore, up from Rs 116 crore last year, reflecting a 76 per cent increase in business volumes. The company projects that its revenue for FY25 will be approximately Rs 350 crore. This growth is expected to be driven by several key factors, such as an exponential user growth, an increase in larger ticket size loans, and the launch of new products," Olyv Co-Founder and CEO, Rohit Garg told PTI. Olyv claims that the monthly active user base on the platform grew by 80 per cent year-on-year to 26 lakh. The company partners with RBI-registered non-banking financial companies to facilitate personal lo

Finance world's question to self: Are there too many regulators within?

From fintech to urban cooperatives, a host of industry associations have expressed interest in becoming self-regulatory organisations

Now, users can't make credit card repayments on third party apps

Many players said they will pause credit card payment for banks that have not gone live

RBI Governor Das cautions against tech-led disruptions in financial system

Matrix of financial stability at its best, challenge is to improve, says Das