BUSINESS
Explained: All that we know about the upcoming Cryptocurrency Bill 2021
Industry experts and lawyers expect regulations to ensure better monitoring of crypto transactions and guidelines around penalties for fraudulent activities. Clarity is awaited on how crypto assets and related services will be taxed.
CRYPTOCURRENCY
Interview | More optimistic of crypto regulation in India than an outright ban: WazirX Co-founder Nischal Shetty
On a day when all India can talk about is cryptocurrencies, WazirX Co-founder Nischal Shetty spoke to Moneycontrol.
MCMINIS
Why is RBI wary of First Loan Default Guarantee?
BUSINESS
Panic laced with optimism grips investors as House sets table for Crypto Bill
The industry is concerned mainly about ‘private cryptocurrencies’ which are likely to be prohibited as per understanding of the Bill.
BUSINESS
Will the RBI’s upcoming digital lending norms kill the BNPL and neobank party?
Curbing unchecked growth and eliminating illegal digital lending apps is the key focus for the RBI. Fintechs will be more answerable on how they use their data, and neobanks will be regulated too if these recommendations turn into guidelines.
BUSINESS
PayU India’s revenue grew by 56% in the first half of FY22, says Prosus
Prosus said India continues to be a strategic market for the company and also contributed to the growth in its global revenue for its fintech and payments segment. PayU India’s Total payments value grew by 72 percent in the first half of FY22.
BUSINESS
PhonePe to undertake ESOP buyback worth Rs 135 crore, founders to not participate in offer
PhonePe said that emloyees could sell up to 25 percent of their vested shares in the buyback offer. 75 percent of the company's current workforce is eligible to participate in the offer.
BUSINESS
RBI panel recos on digital lending: Fintechs expect norms will ensure responsible lending
The working group has made recommendations on legal and regulatory framework, technology and financial consumer protection. As per findings of the working group, 600 of the 1,100 loan apps on Indian app stores were illegal.
BUSINESS
Scenes from Paytm's listing: Laughter and joy amid falling shares
Vijay Shekhar Sharma's masterful showmanship could not stop fintech firm Paytm's shares from falling on public debut in a white-hot market. Here's what it felt like at the BSE to witness a historic IPO, even though emotions and reality were poles apart.
BUSINESS
Crypto exchanges may slow down on advertising after concerns raised by Centre
The issue of curbing any non-transparent advertising on cryptocurrency trading was raised in the government meeting chaired by the Prime Minister and also in the meeting held between industry representatives and the Parliamentary Standing Committee on Finance.
BUSINESS
PhonePe crosses two billion transactions a month, highest till date
The company which is the market leader in UPI transactions said that the growth comes from rapid traction across Tier II and III cities
BUSINESS
Exclusive: Have to take a balanced approach to market share cap for UPI apps: Praveena Rai of NPCI
The COO says NPCI is constantly evaluating its readiness to handle growing transactions. Rai tells Moneycontrol that NPCI is in discussions with UPI app players to maintain the 30 percent market cap guidelines.
CRYPTOCURRENCY
Crypto industry to submit written response to Centre on operations, how India stands to benefit
The Parliamentary panel meeting comes shortly after a high-level meeting convened by Prime Minister Narendra Modi held on November 10, wherein industry experts discussed the concerns and the way forward.
BUSINESS
PB Fintech listing: I have a builder's mentality, not a trader's, says Founder Yashish Dahiya
Policybazaar and Paisabazaar operator PB Fintech shares made a decent debut on November 15 as the stock listed with a 17.35 percent premium. In an interview with Moneycontrol, Founder, Chairman and CEO of PB Fintech Yashish Dahiya speaks on the company's listing, his future plans and more.
IPO
Policybazaar parent PB Fintech lists today. Watch its founder on the growth ahead
Policybazaar and Paisabazaar operator PB Fintech shares made a decent debut on November 15 as the stock listed with a 17.35 percent premium. The opening tick on the BSE was Rs 1,150. The price trend was largely in line with analysts’ expectations and grey market trend. Watch Yashish Dahiya in conversation with Chandra R Srikanth and Priyanka Iyer
BUSINESS
Delhi High Court dismisses BharatPe’s petitions against PhonePe’s trademarks
BharatPe had filed six cancellation actions against PhonePe’s registered trademarks on the Devanagari script of ‘Pe’ on October 26. PhonePe has already filed two suits against BharatPe for using the ‘Pe’ suffix in its brand names.
BUSINESS
This week in startup funding: Good Glamm turns unicorn, Zoomcar raises $92 mn
After a brief period of low funding activity, this week saw multiple startups raise funds in late-stage rounds. The week also saw Zomato announce its plans to invest across multiple Indian startups.
BUSINESS
Explained: Why UPI is not at the heart of Paytm's payments business
While Paytm, the third-largest UPI player is far behind the leader PhonePe, the D Street-bound company enjoys a large share in overall payments made by individuals to merchants. Paytm would rather have transactions routed through its own end-to-end platform than depend on NPCI’s platform.
BUSINESS
EXCLUSIVE: WhatsApp seeks higher UPI user cap; NPCI may relax limit in phases
WhatsApp is accelerating efforts to expand its payment service. A relaxation of the 20 million user limit will help it ramp up transaction volumes and value
BUSINESS
WhatsApp UPI transactions see steady uptick in September, October after renewed push
While WhatsApp’s share in monthly UPI transactions is minuscule, compared to PhonePe and Google Pay, transactions on the app in October grew more than two times from September
BUSINESS
CRED to undertake ESOP buyback worth Rs 100 crore this year
This announcement comes after the Bengaluru-based startup announced the Accelerated Wealth Program in August as an additional avenue for employees to build wealth.
BUSINESS
UPI leaders PhonePe, Google Pay and Paytm see record transactions in October
October saw overall UPI transaction values cross an all-time-high of $100 billion, spurred by the beginning of the festival season and increased shopping at physical outlets.
BUSINESS
Amazon Pay India receives Rs 1,000 crore funding from parent company
In a separate regulatory filing, Amazon Pay India said that its net loss reduced by 19 percent year-on-year in FY21 to Rs 1,516 crore and revenue from operations rose by 30.5 percent at Rs 1,716 crore.
BUSINESS
What is driving optimism in the Indian insurtech space
Indian insurtech players are set to benefit from the huge opportunity that the country’s underpenetrated market provides. Digital insurance players are making it easier for customers to understand and buy insurance within IRDAI’s regulatory framework.
