Page 5 - Fintech Firms

Fintech lenders align business model with RBI's digital lending norms

The RBI came out with the guidelines on digital lending in September and gave time until November 30 for players to comply with the 'existing loan' category

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source

China set to fine Ant Group over $1 bn, signalling revamp nears end

A fine on Ant could help pave the way for the company to secure a long-awaited financial holding company license, seek growth again, and eventually revive its plans for a public market debut

Jio Financial Services could become fifth largest fin service entity: Study

Reliance firm can disrupt payments business and become a threat to other fintech models, say analysts

Paytm faces another reckoning with lock-in period expiring this week

The biggest shareholders in One97 Communications Ltd., Paytm's parent company, are Alibaba Group Holding Ltd. and its fintech affiliate Ant Group Co., as well as Japan's SoftBank Group Corp

How two RBI circulars could impact fundraising in fintech space going ahead

Fintechs have to read the regulator better even as the sector improves the quality of data on offer

8i Ventures announces first close of second investment fund worth $50 mn

Early-stage venture capital company says fintech 'single largest opportunity in India'

Hiring of permanent workers fell 61% in start-ups: RazorpayX Payroll report

Technology-related jobs have managed to marginally increase their contribution to the overall workforce by 4 per cent, while the hiring trend is slowing down in general

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

Gone with the loan: Indian travelphiles bank big on 'travel now, pay later'

Maldivian blues or Rajasthan's sand dunes? Keen on both, Rakesh Mandavaya had a budget for none. That's when he learnt of the travel now pay later' option offered by banks and fintech companies. And the rest, as they say, is his Maldives travel history he can't stop gushing about. The 37-year-old, who managed a memorable holiday and that too a foreign one, said his six-month interest free loan for Rs 1.5 lakh was approved in just a day. "Since my trip was an impromptu one, I didn't have enough time to plan it or money to fund it. Then a friend told me about travel loans. The process was super easy," the Delhi-based IT professional told PTI. "I think the demand for such a loan category was always there. It is useful for everyone, especially salaried employees. It will encourage people to see new places and make holiday memories," he added. The TNPL acronym for the travel now pay later' trend has caught on, a variation of the buy now pay later' (BNPL) segment where customers buy ...

Paytm Mall becomes first to go live on ONDC in Bengaluru beta test

People can place orders in grocery and restaurant segments for now

Red signals for fintech industry: The valuations game of the past is over

RBI Governor Shaktikanta Das' traffic light imagery for the fintech industry has several implications

Fintech firm udaanCapital says it enabled Rs 2,200 cr credit to retailers

Company says 'working capital availability in the country is huge as small businesses adopt digital payments

Top Headlines: Byju's focus on profit; YES Bank sells stressed loans

After reporting a loss of Rs 4,588 crore in 2021 fiscal, Byju Raveendran, the founder and CEO of the world's most valuable edtech firm Byju's, has told employees

RBI wants fintech operators to follow rules of game: Shaktikanta Das

Warning against mushrooming of lending apps and their usurious recovery prices, the Reserve Bank said it is not interested in penalizing operators or stifling innovation but wants them to follow the rules of the game, governor Shaktikanta Das said on Tuesday. Addressing the third edition of the global fintech summit here this evening, he said the intention of the central bank is not to penalize or stifle anyone but to ensure that everyone follows traffic rules. The statement assumes importance in the wake of the recent incidences wherein a few people who borrowed through these apps have been forced to commit suicide and the last week's incidence of a young pregnant woman being mowed down by the recovery agents of Mahindra Finance which financed her father's tractor in Bihar. Since the past two years, when the negative loan app incidents began to surface the central bank had made many changes in the rule book, including mandating the loan apps to upfront disclose on whose NBFC's or .

ONDC and UPI together will reorder India's supply chain: Nandan Nilekani

Speaking at the Global Fintech Fest 2022, he said the supply chain will become far more efficient and will help reach products and services to everyone much more easily

Amid rising credit demand, SBI  looks for a revamp to increase deposits

The State Bank of India is planning to revamp its current and savings accounts, salary accounts, and transaction banking businesses

Digital lending norms: Fintech firms seek clarity on RBI's FLDG stance

An FLDG is a lending model wherein a third-party guarantees to compensate up to a certain percentage of default in a loan portfolio of the regulated entity

BharatPe hits $20 bn in annualised TPV, leaves Ashneer Grover saga behind

Fintech platform BharatPe said it has reached an all-time high of $20 billion in annualised total payments value, expanding its footprint to 400 towns and cities, as it leaves the Ashneer saga behind

Instant app-based loan case: Nine crypto exchanges under ED scanner

Rs 64.67-crore bank accounts of WazirX frozen under PMLA after search ops