These companies disbursed around 24.4 million loans in Q2 FY24, marking a 39 per cent Y-o-Y growth in volume from 17.5 million loans in Q2 FY23
Meanwhile, for the past few months, the regulator has been cautious about the increase in unsecured personal loans, which can spiral into potential bad loans
While the overall investment paints a gloomy picture, a handful of firms raised big-ticket funding, and some sectors managed to hold ground
It will be rolled out in the medium term and eventually be transferred to a separate entity owned by the financial sector participants, the regulator said
Several smaller fintechs have tie-ups with banks and non-bank finance companies for small-ticket personal loans
The management told the employees that they had to take such a tough decision as the business has not been able to grow, according to the sources.
Startup will use money to improve technology and expand business in states
Generative AI is a type of artificial intelligence technology that can produce various types of content, including text, imagery, audio and synthetic data
The company added that India was one of its largest markets in the PSP business, contributing a share of around 48 per cent of its revenues
As per grey market operators, Tata Tech shares could gain over 80 per cent, while that of Gandhar are pegged to gain 40 per cent on debut
The company is aiming to achieve profitability for a complete fiscal in the upcoming year
Payments solution firm will use financing to expand international business, improve technology
Without giving out the actual number, BharatPe in a statement said the financial milestone was attributed to consistent growth across all business lines
Fintech companies believe an SRO can consolidate multiple stakeholders on the back of a framework of common standards
Central bank's directives not a complete surprise and will prompt sector to diversify business, they say
Banks, NBFCs would be 'well advised to take precautionary measures in four areas, says Shaktikanta Das
The insights are based on the purchasing trends and patterns from the two months leading up to Diwali
Fintech firm's users will get access to information on low-cost carriers, hotels
India's fintech industry has been growing over the past few years on the back of the emergence of several fintech start-ups
CAFRAL is a non-profit organisation set up by the RBI in 2011 to promote research and learning in banking and finance