BUSINESS
RBI Bulletin: India's digital commerce transactions grew 30% in 2021, up 760 bps than global growth rate
India ranked third in terms of the number of start-ups joining the unicorn club in 2021, next only to the US and China.
BUSINESS
Exclusive Interview| After RBI green light, HDFC Bank will take 2-3 quarters to regain credit card market share, says Parag Rao
HDFC Bank’s group head of payments Parag Rao is optimistic about the recovery in the credit card business after the RBI lifted the ban on the bank.
BUSINESS
Indiabulls Housing Finance CEO quits Dhani board
“To enable me to fully focus my time on Indiabulls Housing Finance, I hereby resign from the board with immediate effect,” Gagan Banga was quoted as saying in an exchange filing
BUSINESS
Fincare SFB postpones IPO, cites external factors
As per Reserve Bank of India guidelines for ‘on tap’ licensing of small finance banks (SFBs) in the private sector, listing of an SFB becomes mandatory within three years of it reaching a net worth of Rs 500 crore.
BUSINESS
Paytm Payments Bank gears up for immediate steps to comply with RBI directions
New customers, however, will not be able to open current or savings accounts with the lender. They will also not be able to open the Paytm Payments Bank wallet, the lender said.
BUSINESS
Why did RBI bar Paytm Payments Bank from onboarding new customers?
In the case of HDFC Bank, the lender was allowed to function its other services, but Paytm Payments Bank has been asked to stop onboarding of new customers altogether, which will have a significant impact on the fintech major’s growth plans.
BUSINESS
Fake loans, KYC leakage: Fintech companies fight a big trust deficit
Almost all strong digital lenders strike a balance between user experience and fraud checks to minimise losses and reputation risk.
BUSINESS
RBI clarifies ombudsman scheme, says no need to pay fees for early redressal
The RBI has put in place a grievance redressal system that does not entail payment of fees or charges in any form.
BUSINESS
Exclusive | Paytm Payments Bank may approach RBI for small finance bank licence by June
Paytm Payments Bank commenced operations on May 23, 2017. It will be eligible to apply for a small finance bank licence by May-June, say sources.
BUSINESS
Women borrowers more disciplined than men, exhibit better credit profile, report says
Increased participation in the labour force, higher financial independence, better credit awareness and improved access to economic opportunities have driven the growth of women borrowers in India, says Harshala Chandorkar, chief operating officer of TransUnion CIBIL.
BUSINESS
RBI Governor Shaktikanta Das launches UPI123Pay. Five key questions answered
UPI on feature phones will help people in rural areas who cannot afford a smartphone to participate in UPI transactions
BUSINESS
Exclusive Interview | No hurry to become SFB, says Fino Payments Bank MD
Rishi Gupta said pressure on company’s share price is on account of general market aversion towards fintech companies and global factors.
BUSINESS
Fino Payments Bank to initiate reverse merger with holding company by June, says MD&CEO
Fino Payments Bank was launched in 2017 and will complete five years of business by June 30. As of December 31, Fino Paytech held a 75% equity stake in Fino Payments Bank, while public shareholders held the rest.
BUSINESS
Credit guarantee scheme for co-lending to boost unsecured loans to MSMEs, say experts
Lenders jointly extending credit to micro and small enterprises can avail of guarantees on secured loans of up to Rs 2 crore and unsecured loans of up to Rs 1 crore.
BUSINESS
Indian corporates brace for delay in receivables, defaults as Russian rouble tanks
As per data by Indian embassy in Russia, bilateral trade between the two countries between April 2020-March 2021 amounted to $8.1 billion. Indian exports amounted $2.6 billion while imports from Russia amounted $5.48 billion.
