India and Singapore on Thursday elevated their bilateral ties to a “complete strategic partnership” and signed 4 MoUs, together with on cooperation in semiconductors, as Prime Minister Narendra Modi held talks along with his counterpart Lawrence Wong. Throughout his opening remarks, Modi stated Singapore isn’t solely a companion nation however it’s an inspiration for each … Read more
Fintech main PhonePe has clocked a revenue after tax of ₹197 crore, excluding ESOP prices, within the monetary 12 months 2024, in comparison with a lack of ₹738 crore final 12 months. The corporate’s income rose by 74 per cent to ₹5,064 crore for FY23-24 from ₹2,914 crore. The Bengaluru-based firm’s standalone funds enterprise additionally … Read more
“Fintech is lifeless. Lengthy stay the banks,” stated a founder of a big peer-to-peer (P2P) lending firm on the current spate of regulatory actions regarding digital lending and fintechs. In its newest motion, the Reserve Financial institution of India (RBI) on August 16 disallowed P2P corporations from providing funding merchandise with options like tenure-linked assured … Read more
LXME, a monetary platform for ladies, has raised seed funding of $1.2 million, led by Kalaari Capital, via its CXXO initiative, which invests in ventures led by ladies entrepreneurs. Additionally learn:Fintech firms disburse file 10 crore loans in FY24, up 35% The spherical additionally noticed participation from notable traders like Yash Kela of Founders Collective … Read more
Mumbai The RBI has issued the ultimate framework for self-regulatory organisations (SRO) within the fintech sector, which signifies that the regulator could also be in favour of permitting a number of SROs for the sector. Additionally learn:RBI asks fintechs to not pursue blistering development “The RBI intends to provoke the method of recognising SRO(s). Accordingly, … Read more
After asking banks and non-banking finance corporations to take a calibrated method to development, the Reserve Financial institution of India has signalled fintechs to tamp down. In a gathering just lately held with fintech heads, the regulator is claimed to have instructed many corporations, particularly these concerned in mortgage merchandise and/or working as mortgage service … Read more
Funding for monetary expertise (fintech) start-ups declined by 57 per cent in Q1 2024, in comparison with Q1 2023, in response to a report by market intelligence platform Tracxn. Total funding in Q1 of the present calendar 12 months stood at $551 million, in comparison with $1.3 billion raised throughout the identical interval in FY23. … Read more
Revolut India on Friday mentioned it has acquired an in-principle authorisation from the Reserve Financial institution of India (RBI) to concern Pay as you go Fee Devices (PPI) together with pay as you go playing cards and pay as you go wallets within the nation. Additionally learn:RBI to allow UPI payments from PPI wallets via … Read more
Because the ruling NDA seeks its third time period in workplace, the speedy strides made in digitising funds and your entire monetary companies ecosystem have been amongst its predominant achievements. The final 10 years have seen the nation rising as a serious international innovator and driver of e-commerce, digital funds and monetary companies. Whereas measures … Read more
Flipkart, an e-commerce market, has launched its UPI service for on-line and offline funds inside and outdoors its app. For a particular buyer expertise, loyalty options like Supercoins, Cashbacks, Milestone advantages and model vouchers will likely be made accessible submit the UPI launch, firm stated in launch. Additionally learn: Flipkart mafia: How Flipkart’s legacy fuels … Read more