Page 2 - Indian Fintech

What makes Indian fintech fast and furious, but also a little fraudulent?

Know-your-customer, or KYC, regulations aren't easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion

Fintech personal loan disbursal up from 1.1 mn to 41.6 mn in 5 years: FACE

Similarly, the value of loans has increased from Rs 5,907 crore to Rs 40,845 crore during the same time

RBI releases draft norms for fintech self-regulatory organisations

The draft norms, which were released on Monday, said SRO-FTs should strive towards healthy and sustainable development of the fintech sector

Indian fintech funding declines 63%; raises total $2 bn: Tracxn Report 2023

Despite the decline, the Indian fintech sector has retained its position as the third-highest funded globally in 2023

Scapia raises $23mn funding led by Elevation Capital, 3STATE Ventures

Fintech company Scapia has raised USD 23 million in a funding round, led by Elevation Capital and Binny Bansal's 3STATE Ventures. The round also saw participation from existing investors -- Matrix Partners India and Tanglin Venture Partners. "Scapia's USD 23 million Series-A fundraise is a testament to the customers' love for its co-branded credit card and delightful app experience. Within five months of launch, Scapia has distributed its card in over 7,500 pin codes," the company said in a statement. Scapia offers financial products and travel services through its co-branded credit cards. The company plans to use the funds to grow the customer base, add more banking partners, and enhance the product offerings. "This funding will fuel our efforts to grow our customer base, add more banking partners and strengthen our product suite. We are grateful to our new and existing investors who believe in our vision and are helping us deliver a compelling proposition to our customers," Scap

Possible to have different SROs for fintech sectors: Industry players

A primary responsibility of these SROs would be to safeguard fintech consumers by overseeing privacy, disclosure, and recovery practices

Delhi High Court's Paypal order to impact fintech compliance costs

US-based PayPal and other payment operators in India will face increased regulatory costs due to the recent Delhi High Court ruling on compliance with the Prevention of Money Laundering Act

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As govt tightens regulations, fintech firms search for legal experts

Industry experts said fintech firms are looking for senior professionals adept at handling legal and compliance-related issues to support their operations

IFSCA committee to explore ways to bring home Indian start-ups

The terms of reference for the committee include measures required to encourage the Indian fintech and startups domiciled abroad to relocate to GIFT IFSC

Funding woes remain for Indian fintechs despite revival of big bets

Investments among fintech start-ups in India saw a decline of 47% YoY in 2022 at $5.65 billion, compared to $10.7 billion the previous year

Fintech platform PayMe to invest Rs 200 crore in UP, creates 2,000 jobs

Fintech platform PayMe on Thursday said it will invest Rs 200 crore in Uttar Pradesh to create 2,000 jobs in the area, focusing on training and developing skilled resources in the fintech space.

Indian fintech start-up funding fell 47% in 2022, says Tracxn report

Growth in the space was expected to continue in the long run, propelled by a large unbanked population

BharatPe sues Ashneer Grover and wife, seeks Rs 88 cr for swindling firm

Fintech platform BharatPe said it has initiated criminal and civil proceedings against its former Co-Founder, Ashneer Grover and his wife Madhuri Jain Grover over misappropriation of company funds

KreditBee raises $80 million in Series D from Premji Invest, others

The fintech firm aims to cross an AUM of over $1 billion in the next 6-9 months

Paytm stock crashes 11% to end at all-time low of Rs 477 a share

Macquarie report says the fintech firm could face headwinds with the entry of Jio Financial Services, which may focus on consumer and merchant lending, the mainstay of Paytm's business

What does Nobel laureate Douglas Diamond think of dominance of PSBs?

Business Standard's Veenu Sandhu & Manojit Saha speaks to Prof Douglas Diamond, who won the 2022 Nobel Prize in Economics, on how banks can brace themselves amidst concerns of a recession and more

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

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

PhonePe in talks to raise $700 million at $12 billion valuation

Digital payments firm seeking investors' support to scale up operations and compete with rivals

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