BUSINESS
UK's Revolut to launch India operations in second half of 2022, eyes full scale digital banking setup
The company has made an initial investment of $45 million in India and is expected to go live with its products in the second half of 2022.
BUSINESS
Miners, minors and developers join investors in seeking clarity over crypto tax
Many developers, freelancers and marketing professionals, among others working in Web3 or decentralised projects, prefer to be paid in cryptocurrency.
BUSINESS
BharatPe governance review: Here are the key takeaways from Alvarez and Marsal's preliminary report
The governance audit by risk advisory firm Alvarez and Marsal found that payments were made to recruitment consultants and vendors that did not exist and names Ashneer Grover's wife Madhuri Jain Grover.
BUSINESS
ClearTax to allow users to manage crypto portfolio, optimise taxes
The fintech firm to tie up with crypto exchanges to help their customers adhere to the new tax norms and will also help investors get assistance from experts.
BUSINESS
Budget 2022 slapping a 30% tax on crypto income will hurt new investors: Experts
Finance Minister Nirmala Sitharaman announced a 30 percent tax rate and 1 percent TDS for gains made from virtual assets and transfers in the Budget.
BUSINESS
Budget 2022 levies crypto tax. How it will impact investors
Budget 2022 | While the tax seems to be a precursor to regulation, it does not imply legality, say experts
BUSINESS
Budget 2022 | Government rolls out tax regime for all virtual assets, experts hail move 'legalising' crypto
Budget 2022 | Over the past year, there has been a boom in individuals investing in cryptocurrencies, with exchanges crossing millions of users
MCMINIS
What is Earned Wage Access?
BUSINESS
Raise Financial Services raises $22 million in Series A; allocates $15 million for trading platform Dhan
Raise will use this investment to grow Dhan’s product, engineering, operations & customer experience teams, besides launching another product.
BUSINESS
Crypto crash: No signs of panic selling, Indian investors holding on or buying the dip
Cryptocurrencies saw a massive fall on January 21 after the US Federal Reserve's decision to hike rates by March spooked global markets.
BUSINESS
Bajaj Finance: What to watch out for as the NBFC kicks off Phase II of its digital transformation
Phase I of the digital transformation journey has gone live and in Phase II Bajaj Finance's app will offer 72 features as compared to 52 currently.
BUSINESS
M2P Fintech raises $56 million in Series C1 round, valuation doubles to $600 million
This is M2P Fintech's third round in less than a year and the largest till date. The company plans to invest in international expansion and acquisitions.
BUSINESS
Mohandas Pai throws doubt on board autonomy at BharatPe after meek acceptance of Ashneer Grover’s leave
According to Pai, the board itself should have stepped in and asked Grover to take a break and apologise publicly to the Kotak Group employee whom he was heard abusing and threatening in a leaked audio clip.
BUSINESS
SME lending fintechs gear up for more growth as credit momentum picks up
In the past two years, fintechs have developed underwriting models for SME-lending, backed by access to data. With fintechs set to cater to more demand, analysts weigh in on the risks these new models could carry.
BUSINESS
Exclusive: BharatPe CEO Suhail Sameer says Ashneer Grover on "leave" but continues on board
Post the announcement of Grover's leave, the startup's top management including Grover himself conducted a townhall with employees in a bid to allay their fears.
BUSINESS
INDmoney raises $86 mn from Tiger Global, Steadview Capital, Dragoneer and others
Post this Series D round, INDmoney’s valuation stands at $635 million, a jump of over three times from its last round.
BUSINESS
Account Aggregators link up 80,000 bank accounts, but SBI is yet to go live
While the AA ecosystem is working to enable the linking of securities and SME accounts, SBI weighs a pricing model as it will become the largest data provider once live
COMPANIES
Google Pay partners Indifi to provide instant MSME credit as it expands its financial services play
With a 35 percent share of monthly UPI volumes, Google Pay has been growing its financial services play over the past year like other payments leaders in India
BUSINESS
Foundation PE acquires investors’ stakes in Prime Venture Partners' first fund
Prime Venture Partners said that its investors got four times the returns through the exit
BUSINESS
Does NPCI CEO Dilip Asbe favour UPI over RuPay, asks Pine Labs’ Amrish Rau. Here’s his answer
Asbe believes that the card ecosystem needs to upgrade and innovate faster to give the same user experience as UPI apps.
BUSINESS
Refyne, India's first earned wage access platform, raises about Rs 600 crore in Series B funding from Tiger Global, others
BUSINESS
Paytm should be benchmarked against Bajaj Finance: Vijay Shekhar Sharma
Paytm which got listed on the stock exchange last year had a rough landing with its stock crashing 27.25%, the biggest ever fall in a decade for any scrip on listing day.
BUSINESS
OneCard issuer FPL Technologies raises $75 million at $750 million valuation
This round brings FPL Technologies close to the $1 billion valuation which will make it a unicorn. The company said it continues to be in talks with investors for further funding.
BUSINESS
PayU’s LazyPay forays into cards, deepening push into pay-later segment boosted by virus
With this offering, LazyPay joins the likes of Slice, Uni, Dhani which offer pay-later cards to customers, most of which have the option of dividing bills or purchases in three parts. But this product will differ from competitors in the repayment cycle.
