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  • Interview: Citi deal on track, will grow cards portfolio aggressively in FY23, says Axis Bank executive Moghe Jul 07, 2022 05:52 PM IST

    Interview: Citi deal on track, will grow cards portfolio aggressively in FY23, says Axis Bank executive Moghe

    Some new partnerships between Axis Bank and fintechs may take shape due to RBI’s recent clarification on loading credit lines on wallets, Moghe said.

  • Google launches start-up school, targets 10,000 non-metro entrepreneurs Jul 06, 2022 05:40 PM IST

    Google launches start-up school, targets 10,000 non-metro entrepreneurs

    The programme will focus on finding 10,000 start-ups beyond the metros, in tier 2 and tier 3 cities, and is aiming to onboard them by December.

  • MC Insider: Metal mettle, cues from promoters buying stocks, ecommerce big daddy, another big fat wedding, and more Jul 06, 2022 07:12 AM IST

    MC Insider: Metal mettle, cues from promoters buying stocks, ecommerce big daddy, another big fat wedding, and more

  • India in talks with 30 countries regarding UPI: MeitY minister Ashwini Vaishnaw Jul 04, 2022 07:39 PM IST

    India in talks with 30 countries regarding UPI: MeitY minister Ashwini Vaishnaw

    Vaishnaw said this while giving an overview of India's public digital platforms, and said these platforms have avoided the creation of monopolies in the digital services sector -- the kind that are present in developed countries.

  • Slice appoints Sudeep Behari as new business head Jul 04, 2022 04:09 PM IST

    Slice appoints Sudeep Behari as new business head

    Behari, who was leading the ICICI-Amazon credit card partnership before joining Slice, has 16 years of experience in the credit finance industry

  • MC Insider: Petro share boomerang, founder who hates a photo, co-location fall guys, front-running clampdown, and more Jul 04, 2022 06:17 AM IST

    MC Insider: Petro share boomerang, founder who hates a photo, co-location fall guys, front-running clampdown, and more

  • Big tech firms offering financial services pose risk to financial stability: RBI Jul 01, 2022 03:45 PM IST

    Big tech firms offering financial services pose risk to financial stability: RBI

    The central bank, in its 25th Financial Stability Report (FSR), said the advent of FinTech has exposed the banking system to new risks which extend beyond prudential issues and often intersect with other public policy objectives relating to safeguarding of data privacy, cyber security, consumer protection, competition and compliance with anti-money laundering policies

  • RBI Financial Stability Report: Fintech delinquencies halved to 2.26% in March Jun 30, 2022 04:05 PM IST

    RBI Financial Stability Report: Fintech delinquencies halved to 2.26% in March

    Further, the report reiterated RBI's stance that fintech has exposed the banking system to new risks, and the presence of Big Techs like Apple, Google, Meta, Amazon, etc in fintech has increased risks to financial stability.

  • SME credit enabling platform GetVantage raises $36 million, eyes Southeast Asia expansion Jun 30, 2022 11:51 AM IST

    SME credit enabling platform GetVantage raises $36 million, eyes Southeast Asia expansion

    Besides its global expansion plans, GetVantage will use the funds for growing its financing solution and embedded finance product, client portfolio and tech infrastructure.

  • AquaExchange raises $3 million in funding led by Endiya Partners, Accion Venture Lab Jun 30, 2022 11:41 AM IST

    AquaExchange raises $3 million in funding led by Endiya Partners, Accion Venture Lab

    The fintech firm also witnessed participation of existing investors in the funding round

  • Volopay to offer corporate credit cards with SBM Bank India as it expands India offerings Jun 29, 2022 11:50 AM IST

    Volopay to offer corporate credit cards with SBM Bank India as it expands India offerings

    The company expects to onboard 7,000 businesses on its platform in the Indian market over the next 12-18 months.

  • Razorpay founder Shashank Kumar takes over as MD, former Amazon executive Murali B new CTO Jun 29, 2022 07:20 AM IST

    Razorpay founder Shashank Kumar takes over as MD, former Amazon executive Murali B new CTO

    Murali Brahmadesam has more than two decades of experience and has spent a major part of his career at Amazon and Microsoft, where he held several technology and leadership roles.

  • MC Insider: Bullish emergency fund, fake earnings call transcripts, the small cap trading in shares, messy airline marriage, and more Jun 29, 2022 06:59 AM IST

    MC Insider: Bullish emergency fund, fake earnings call transcripts, the small cap trading in shares, messy airline marriage, and more

  • Slice gets shareholders' approval to raise Rs 200 crore through NCDs Jun 28, 2022 04:27 PM IST

    Slice gets shareholders' approval to raise Rs 200 crore through NCDs

    The debenture issue follows the company's Series C round where it raised $50 million

  • RBI will continue reforms till fintechs do not self-regulate: Online PSB Loans MD Jun 27, 2022 04:58 PM IST

    RBI will continue reforms till fintechs do not self-regulate: Online PSB Loans MD

    Fintechs provide infrastructure services to banks and NBFCs for sourcing and maintenance of new products and charge a fee for the same.

  • Prepare for scrutiny if you want to play the big boys' game: Experts on RBI's recent fintech crackdown Jun 27, 2022 03:39 PM IST

    Prepare for scrutiny if you want to play the big boys' game: Experts on RBI's recent fintech crackdown

    The RBI's notification could be the end of credit-linked prepaid cards and wallets

  • MC Insider: Steely stock, look who’s buying cement shares, the financier that said no to daddy, grumpy founder and more Jun 27, 2022 08:13 AM IST

    MC Insider: Steely stock, look who’s buying cement shares, the financier that said no to daddy, grumpy founder and more

  • Finance Ministry asks banks to explore fintech partnership, co-lending opportunities Jun 26, 2022 12:14 PM IST

    Finance Ministry asks banks to explore fintech partnership, co-lending opportunities

    In the recently concluded performance review of PSBs by the Finance Ministry, sources said, lenders were asked to focus on technology and data analytics to push their lending.

  • Payments council urges RBI to treat full KYC prepaid instruments like bank accounts Jun 25, 2022 07:46 PM IST

    Payments council urges RBI to treat full KYC prepaid instruments like bank accounts

    The Payments Council of India's letter estimates that over 10 million credit-linked prepaid instruments are active currently with over Rs 3,500 crore of payment volumes processed in May 2022.

  • Digital lenders seek 6-month extension, meeting with RBI, on PPI-based lending Jun 25, 2022 01:48 PM IST

    Digital lenders seek 6-month extension, meeting with RBI, on PPI-based lending

    The representation by the Digital Lenders Association of India (DLAI) after RBI barred loading credit lines into prepaid payment instruments (PPIs) such as wallets and prepaid cards, impacting players like Slice and Uni.

  • PhonePe's FY21 loss little changed even as revenues soar 85% Jun 24, 2022 08:18 PM IST

    PhonePe's FY21 loss little changed even as revenues soar 85%

    PhonePe reported a consolidated net loss of Rs 1,728 crore for FY21, against a consolidated loss of Rs 1,771 crore a year earlier.

  • RBI, PPI companies in talks; central bank not in favour of innovation based on regulatory arbitrage Jun 24, 2022 07:25 PM IST

    RBI, PPI companies in talks; central bank not in favour of innovation based on regulatory arbitrage

    The Indian central bank is in discussions with fintech companies following its clarification last week on the loading of pre-paid instruments through credit lines.

  • Banking | Creative destruction of existing models will pose new challenges for regulators Jun 23, 2022 04:48 PM IST

    Banking | Creative destruction of existing models will pose new challenges for regulators

    The core function of banking will remain, but the way we understand a bank in terms of branches and bank officers, is going to change forever 

  • IPO-bound Pine Labs acquires fintech infra startup Setu for $70-75 million Jun 23, 2022 01:03 PM IST

    IPO-bound Pine Labs acquires fintech infra startup Setu for $70-75 million

    Setu offers open APIs across four categories—data, payments, investments, and lending. The company's founders will continue to lead the firm and brand name and the team of Setu will be retained.

  • RBI's freeze on PPI-led lending: Industry bodies to write to RBI, Govt on their stance on supporting innovation Jun 22, 2022 05:52 PM IST

    RBI's freeze on PPI-led lending: Industry bodies to write to RBI, Govt on their stance on supporting innovation

    The representations will seek further clarity to assess the impact of RBI’s notice on lending through PPIs.

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