BUSINESS
RBI in discussion with industry bodies ahead of finalising digital lending guidelines
After the associations submit their responses, the RBI is likely to share its final views on key norms with the industry before making the guidelines public
BUSINESS
RBI's new credit card issuance rules: Three key points explained
RBI's directions on credit cards say that registered NBFCs cannot issue credit cards or similar products without the regulator's approval.
BUSINESS
CoinDCX CEO Sumit Gupta: The best companies in the world are built in the toughest of times
The platform’s valuation has doubled to $2.15 billion after its $135 million Series D fundraise, eight months after it turned unicorn.
BUSINESS
BharatPe appoints former Reckitt global executive Smriti Handa as Chief Human Resources Officer
Handa will focus on strengthening the organisational culture and HR practices in the company to building the startup as an employer of choice, BharatPe has said
BUSINESS
InfoEdge, Village Global lead $30-million seed round in fintech platform Recur Club
At $30 million, this is one of the largest seed rounds in the country. Recur Club allows companies to trade their future customer revenue at a small discount to get capital upfront within 48 hours
BUSINESS
Why banks are playing hard to get with crypto exchanges
The attention garnered by Coinbase’s announcement allowing UPI on its platform, followed by UPI operator NPCI distancing itself from the remarks, has led banks to rethink their association with crypto exchanges, say industry sources
BUSINESS
PhonePe, Affle and Ventureast Fund opt for out-of-court settlement in IndusOS acquisition case
The court tussle began when PhonePe was close to acquiring IndusOS in May 2021. The acquisition was set to take place at a valuation of $60 million.
BUSINESS
Exclusive: UPI growth momentum to continue; UPI 123Pay to be next big thing, says NPCI COO Praveena Rai
NPCI has lined up two key tasks in its payment system offerings—UPI 123Pay on feature phones and enabling the offline mode of functioning for smartphones
BUSINESS
Pine Labs makes majority investment in Mosambee to address retail merchants
Pine Labs' investment will now value Mosambee at upwards of $100 million.
BUSINESS
Arkam Ventures announces final close of maiden fund at $106 million
The fund invests in pre-series A to Series B companies with investments in the range of Rs 10-20 crore and its portfolio includes startups such as Smallcase, Krazybee, Jar, Smart staff, Jai Kisan and Signzy.
BUSINESS
CoinSwitch disables all crypto purchase options on app including bank transfer
Indian Rupee (INR) deposits through UPI as well as other modes including bank transfer have been paused.
BUSINESS
Double whammy for crypto volumes as MobiKwik pulls rug from under exchanges in wake of stiff tax laws
WazirX, CoinDCX, and Zebpay see drop in trading volumes, as per data by CREBACO.
BUSINESS
Coinbase stops payments via UPI in India, volumes down after Mobikwik withdrew services
Notably, UPI payments are not allowed on other crypto exchanges as well, while Mobikwik wallet, which had partnered with major crypto exchanges, has stopped supporting crypto trading
BUSINESS
Coinbase clarifies on UPI after NPCI statement, says will work in keeping with local norms
NPCI, which operates and manages UPI, had issued a statement saying it was not aware of any crypto exchange using UPI
BUSINESS
Ashneer Grover to BharatPe board: Suhail Sameer should be sent on leave, Rajnish Kumar must resign
Ashneer Grover, in a letter to the board, said that he and his sister Ashima Grover might pursue a criminal defamation case against BharatPe's board and CEO Suhail Sameer if the latter failed to provide a written apology.
BUSINESS
Not as controversial as everyone thought, can happen in any company: Suhail Sameer on BharatPe-Ashneer Grover saga
After the incident, the startup’s focus has been on changing the organisational culture and retaining employees. Sameer said BharatPe wants to be a torchbearer of corporate governance.
BUSINESS
Paytm share slump due to volatile market: Vijay Shekhar Sharma
The Gross Merchandise Value (GMV) for merchants payments business saw a growth of 111 percent in the year, rising from Rs 4 lakh crore to Rs 8.52 lakh crore.
BUSINESS
Zomato reacts to CCI probe, says its practices comply with the laws
CCI had ordered an investigation in the conduct of both Zomato and Swiggy based on allegations made by the restaurants association.
BUSINESS
Coinbase to hire 1,000 people in India this year, ramp up investments
Coinbase, which is listed on the Nasdaq in the US, had launched its Indian tech hub in 2021 which currently has over 300 employees.
BUSINESS
Transactions volumes plunge after crypto tax comes into effect in India
Last week, Moneycontrol reported that this new move of crypto tax will be a major hurdle for the smaller investors and is anticipated to drive the retail investors to the grey market.
BUSINESS
Crypto exchanges brace for new tax rules, expect small investors to move to grey market
This move will be a major hurdle for the smaller investors and is anticipated to drive the retail investors to the grey market, that is the decentralised exchanges.
BUSINESS
UPI reaches a watershed moment with digital transaction value shooting past $1-trillion mark in FY22
The payments system crossed the 500-crore mark in volumes for the first time in March
MCMINIS
How are pay-later cards different from credit cards?
BUSINESS
IPO-bound Pine Labs raises $50 mn from UK-based Vitruvian Partners, likely earning a valuation of $5.5 bn
This is Pine Labs' third fundraise this year after $20 million from SBI and $150 million from Alpha Wave Global. The payments platform is eyeing an IPO in the US within 2022.
