Page 9 - Fintech

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

CoinDCX launches Web3 mode on its app enabling access to 50k DeFi tokens

The company will offer points to CoinDCX users based on their transaction history as part of the current launch

FinTech sector leads with 30 startups in Future Unicorns worth $11.4 bn

The 30 startups featured in the ASK Private Wealth Hurun India Future Unicorn Index have collectively raised an investment of $5.7 billion

Back to basics: Fintech player Paytm's focus is payments and distribution

The firm seems to be returning to the drawing board, revisiting its business strategy, including its partnership with lenders

PhonePe ties up with Sri Lankan ride-hailing player to enable UPI payment

Fintech firm PhonePe has partnered with ride-hailing platform PickMe to enable UPI-based payments for Indian travellers in Sri Lanka, the Walmart group firm said on Thursday. Last month, PhonePe entered into a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. "Our partnership with PickMe exemplifies the company's commitment to providing Indian travellers with convenient and trusted payment solutions. Previously, navigating payments in a new country could be a hassle. "Now, with PhonePe, Indian tourists visiting the beautiful island nation of Sri Lanka can enjoy the ease and security of UPI payments for their rides," Ritesh Pai, CEO of PhonePe - International Payments, said. The collaboration follows the launch of PhonePe in the island nation last month, wherein the Indian High Commissioner Santosh Jha had urged companies in Sri Lanka to engage with Indian companies to build on the UPI stack for innovations in hotel bookings, cab bookings, delivery ...

Aim to connect lenders, customers for financial needs: PhonePe Lending CEO

In unsecured loans, there is no asset or underlying security that is taken from the customer, said Gala

RBI finalises framework for self-regulatory organisations in fintech sector

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

B2B fintech Vegapay raises $5.5 mn; co. to fund team expansion, operations

The company will utilise the capital raised towards expanding product and technology teams and investing in operations and compliance requirements

RBI unveils Pravaah portal, Retail Direct Mobile App and FinTech Repository

Initiatives aim to help regulatory processes, retail investment in government securities, provide data on fintech