Page 10 - Ajinkya Kawale

Cashfree Payments gets payment aggregator-cross border licence from RBI

The Bengaluru-based company is one of the first non-banks to receive the PA-CB licence, according to the RBI's website

BlackSoil raises over Rs 200 cr debt in H1CY24, with 60% from new lenders

The firm said about 60% of the total debt funding raised during the first six months of 2024 came from new debt investors

PhonePe retains top position on UPI in June, Paytm's market share slips

Nearly one out of two transactions on the National Payments Corporation of India (NPCI)-run UPI are processed on fintech major PhonePe's platform

Economic Survey: DPI brings down KYC costs to Rs 6 from about Rs 1,000

The disclosure on KYC costs comes as the RBI has been cautious about KYC risks and has emphasised well-defined norms for market players

Economic Survey calls for identifying regulatory gaps in fintech sector

Sector move towards data-based lending instead of 'judgement-based lending', it says

Algo Rhythm: 85% respondents 'somewhat familiar' with AI, shows data

As many as 67 per cent respondents expect to use the technology in two to five years

WazirX major security breach: Calls for legal recourse grow louder

Legal experts tracking the sector believe that users who have lost their funds can look at the country's consumer protection laws as one recourse

Market regulator Sebi issues show-cause notice to Paytm on ESOPs

The Noida-based company said the show-cause notice did not have any impact on the financial results of the fourth quarter of the financial year 2024 (Q4 FY24) and Q1 FY25

Paytm Q1: Loss widens to Rs 838.9 cr, total income declines 33.5%

Hope to deliver at least one profitable quarter this year, says Sharma

WazirX suffers security breach; digital assets worth $234 million swindled

WazirX confirmed the security breach on X. The firm has temporarily paused customer withdrawals

Funding to payments fintechs in India down 99% in two years: Report

The decline in funding comes on the back of reasons such as companies shifting their business models to lending and other sectors due to lower sustainability of the payments business

Fintech Budget wishlist: Simplified tax structures, regulatory clarity

Fintech players have called for a lower TDS for startups to ease working capital challenges

OIa founder calls to create India's own AI stack, use DPI to build datasets

To be leaders on the AI front, Aggarwal elucidated that the country needs the government and the industry to adopt AI applications

Paytm gets Sebi warning for transactions with banking unit, defends itself

Company says it's committed to 'highest compliance standards' after regulator flags related party transactions with Paytm Payments Bank in FY22

Mumbai airport passenger traffic rises 7.7% in first quarter of FY24

The rise in passenger traffic comes during major holiday months when people travel during the summer season in India

GenZ prefers personal loans; millennials go for credit cards, shows data

Out of the total loans disbursed, digital lending has increased from 1.8 per cent in financial year 2022 (FY22) to 2.5 per cent in FY24

Major credit card issuers go live on Bharat Bill Payment Systems platform

Issuers live on the platform cater to 80-85% customers

Domestic mutual funds increase stake in Paytm, firm's FDI dips by 2%

The shareholding of foreign portfolio investors was pegged at 20.5 per cent in Q1FY25, a 0.16 per cent decline from Q4FY24

TCS Q1 results: Net profit up 8.7%, margins rise despite salary hike

TCS meets estimates, but macro challenges persist; AI, genAI pipeline doubles

NPCI International partners with Qatar National Bank to launch UPI

In June, NIPL inked an agreement with the central bank of Peru to develop a UPI-like payment system in the South American country