RBI green flags JP Morgan-backed fintech ISG to work as payment aggregator
Dec 13, 2024, at 04:37 pm
Mumbai: JP Morgan-backed fintech company In-Solutions Global (ISG) has secured full authorisation as a payment aggregator under the Reserve Bank of India's regulatory framework.
Ashneer Grover ends all ties with BharatPe following legal dispute settlement
Sep 30, 2024, at 07:59 pm
New Delhi/IBNS: Indian fintech company BharatPe announced on Monday (Sept. 30) that it had reached a settlement with its former co-founder Ashneer Grover, formally ending his association with the company.
UK-based fintech Revolut set to enter India by 2025: Report
Sep 17, 2024, at 10:58 pm
Mumbai: UK-based Revolut, one of Europe's leading fintech companies, is preparing to launch its services in India by 2025, targeting tens of millions of affluent consumers, according to a report by The Financial Times.
Aug 30, 2024, at 10:58 pm
Mumbai: India’s fintech industry has garnered an investment of over $31 billion in the last 10 years and the startups in this space have recorded a growth of over 500 percent.
Fintech company Pine Labs consider $1 bn IPO in India: Report
Jun 22, 2024, at 02:01 am
Mumbai: Pine Labs Pvt, an Asian digital payments provider supported by Peak XV Partners and Mastercard Inc., is reportedly considering raising about $1 billion through an initial public offering (IPO) in India, media reported.
Fintech unicorns BharatPe Group and PhonePe resolve all legal disputes over trademark suffix 'Pe'
May 27, 2024, at 01:59 am
Mumbai: Fintech unicorns BharatPe Group and PhonePe Group have reached a mutually agreeable resolution for all long standing legal disputes in connection with the use of the trademark suffix 'Pe', the companies said in a joint statement, according to media reports.
Investor education is critical for financial inclusion of youth in digital overload era, say experts
Mar 22, 2024, at 08:17 pm
New Delhi/IBNS: The Investor Education and Protection Fund Authority (IEPFA), in collaboration with the National Council of Applied Economic Research (NCAER), which is India’s oldest independent economic think tank, and the Department of Commerce, DSE, University of Delhi recently hosted a conference for youth to bolster financial literacy and inclusion.
Finance Minister Nirmala Sitharaman to meet fintech companies amid Paytm fiasco
Feb 21, 2024, at 04:19 am
New Delhi: Finance Minister Nirmala Sitharaman has decided to hold a meeting with heads of financial technology companies next week to urge them to adhere strictly to regulatory guidelines, media reports said.
RBI releases 30 FAQs for Paytm Payments Bank account holders: Read the full text
Feb 17, 2024, at 05:05 am
The Reserve Bank of India (RBI) released a set of frequently asked questions (FAQs) on February 16 specifically addressing bank account holders of Paytm Payments Bank. Below is the complete text of the FAQs:
Paytm transfers nodal account to Paytm Payments Bank to Axis Bank
Feb 17, 2024, at 03:32 am
Mumbai: One97 Communications, the parent company of Paytm, has transferred its nodal account from Paytm Payments Bank to Axis Bank.
No relief for Paytm Payments Bank; RBI only extends deadline for imposing curbs
Feb 17, 2024, at 03:26 am
Mumbai: The Reserve Bank of India (RBI) on Friday extended the deadline for Paytm Payments Bank Ltd (PPBL) to cease accepting new deposits and conducting credit transactions.
Paytm restrictions imposed after thorough consideration, no roll back: RBI Governor
Feb 15, 2024, at 06:34 am
Mumbai: The RBI restrictions on Paytm have been imposed after thorough consideration as is the case in all the decisions made by the Central bank, RBI Governor Shaktikanta Das has said, reported media.
Hit by RBI restrictions, Paytm to set up advisory committee headed by ex-SEBI Chairman M Damodaran
Feb 10, 2024, at 07:55 am
Mumbai: One97 Communications, the fintech company that owns the Paytm brand, revealed on Friday that it would set up an advisory committee led by former SEBI Chairman M Damodaran, media reported.
Feb 08, 2024, at 04:36 am
Mumbai: The recent measures enacted by the Reserve Bank of India (RBI) concerning Paytm Payments Bank serve the interest of consumers and the broader Indian economy, according to Financial Services Secretary Vivek Joshi.
Spice Money's user network grows 12.67% in West Bengal in 2023
Feb 07, 2024, at 08:18 am
Kolkata: Rural fintech company Spice Money, a subsidiary of DiGiSPICE Technologies, has launched the Spice Money Guarantee Drive in West Bengal.
Feb 07, 2024, at 06:25 am
New Delhi: Fintech unicorn BharatPe has been served a notice by the Ministry of Corporate Affairs (MCA) under Section 206 of the Companies Act, asking the company to furnish details regarding legal actions taken against its founder, Ashneer Grover.
Amid crisis after RBI restrictions, Paytm founder meets Nirmala Sitharaman
Feb 07, 2024, at 05:20 am
New Delhi: Paytm founder and CEO Vijay Shekhar Sharma on Tuesday met Finance Minister Nirmala Sitharaman amid the crisis in the company's banking arm, following Reserve Bank of India’s (RBI), media reports said, citing sources.
Reasons for RBI's crackdown on Paytm Payments Bank: Report
Feb 03, 2024, at 03:25 am
Mumbai: The Reserve Bank of India (RBI) started a major crackdown on Paytm Payments Bank, citing complete neglect by the company for regulatory standards and compliance requirements, media reports said.
Paytm Q3FY24: Consolidated revenue soars 38% YoY to Rs 2850 cr; losses narrow down to Rs 222 cr
Jan 20, 2024, at 05:53 am
Mumbai: One97 Communications, the parent company of fintech firm Paytm, reported consolidated revenue of Rs 2850 crore in the quarter ending December 2023, up 38% increase compared to Rs 2062 crore in the corresponding quarter of the previous year.
Tata Payments gets payment aggregator licence from RBI
Jan 03, 2024, at 04:50 am
Mumbai: The Reserve Bank of India (RBI) has awarded payment aggregator (PA) licence to Tata Payments, media reported.
RBI allows digital payment firms Razorpay and Cashfree Payments to function as payment aggregators
Dec 20, 2023, at 04:56 am
Mumbai: Digital payment firms Razorpay and Cashfree Payments have obtained the final approval from the Reserve Bank of India (RBI) to function as payment aggregators, allowing them to onboard new merchants following a nearly one-year regulatory ban, media reports said.
Zerodha co-founders Nithin and Nikhil Kamath earned Rs 72 cr each as remuneration in FY23
Dec 09, 2023, at 05:14 am
Bengaluru: The founders of Zerodha, Nithin, and Nikhil Kamath, took home a remuneration of Rs 72 crore each for the fiscal year ending March 2023, according to filings with the Ministry of Corporate Affairs.
Top banks ask fintech partners to limit small ticket loans
Dec 08, 2023, at 06:31 am
Mumbai: Leading banks and non-banking financial institutions in India have reportedly asked their fintech partners to limit the issuance of small personal loans, as disclosed by three banking sources and one industry insider on Thursday, Reuters reported.
Rahul Kothari appointed as Razorpay's Chief Operating Officer for India and Malaysia
Nov 08, 2023, at 08:37 pm
Mumbai: Rahul Kothari, formerly the Chief Business Officer (CBO) of Razorpay, has been appointed as the Chief Operating Officer (COO) for India and Malaysia.
BharatPe's Chief Product Officer Ankur Jain resigns
Oct 28, 2023, at 05:06 am
Mumbai: Fintech unicorn BharatPe on Friday said that its Chief Product Officer Ankur Jain has resigned to pursue startup ambitions.
Paytm won't need funding in the near future: CEO Madhur Deora
Sep 13, 2023, at 08:15 am
Mumbai: Fintech company Paytm has said that it will not need funding in the near future as the firm has a cash balance of Rs 8,300 crore and it is confident of becoming sustainable due to the free cash flow, media reports said.
PhonePe enters stockbroking domain with Share.Market app
Aug 31, 2023, at 03:37 am
Bengaluru: Walmart-owned fintech company PhonePe on Wednesday announced its foray into the stock broking domain by introducing its app called "Share.Market". This app enables users to engage in trading and investments within stocks, mutual funds, and exchange-traded funds (ETFs), media reports said.
RBI approves First Loss Default Guarantee program between fintechs and partner banks, NBFCs
Jun 10, 2023, at 05:01 am
Mumbai: The Reserve Bank of India (RBI) has given its approval to the First Loss Default Guarantee (FLDG) program, media reports said.
BharatPe appoints Kohinoor Biswas in top consumer lending role
Jun 07, 2023, at 03:19 am
Delhi: Fintech company BharatPe Tuesday announced the appointment of Kohinoor Biswas as the Head - Consumer Lending.
Walmart's stake in fintech subsidiary PhonePe drops to 85%
Jun 05, 2023, at 07:14 pm
Retail behemoth Walmart’s shareholding in fintech company PhonePe has dropped from 89 percent to 85 percent amid the latter’s fundraise of $1 billion, media reports said.