Hello there! In today's edition, we bring you exclusive coverage from the Moneycontrol India Fintech Conclave, where the biggest names from India’s fintech and banking industry gathered to exchange ideas, insights and strategies. 

From industry leaders to policymakers, all came together with a common goal - to chart a course towards making India the forefront of fintech innovation and leadership.

Here’s a quick rundown on everything that was discussed at the event.

• Veteran banker KV Kamath, Chairman of Jio Financial Services, criticised fintechs for their excessive spending, warning that they are burning money without a clear endgame. Kamath highlighted that fintechs are often focused on building more products without considering business outcomes. He recalled a meeting with a fintech that had over 1,000 engineers, expecting only 25, and emphasised that fintechs need to rein in their spending and focus on business growth. (Kamath also shared his favourite food delivery and quick commerce app. Any guesses?)
  
  
• Sebi member Ananth Narayan said that the regulator's F&O (Futures & Options) regulations are designed to curb overtrading on expiry days. He emphasised that a reduction in the number of trades and notional values is a positive development, while stable premiums are also a good sign for maintaining a healthy F&O market. Narayan added that there is no urgency to recalibrate these measures. Regarding market volatility, he assured that both the NSE and Sebi have robust surveillance systems. Dig deeper

• Ashishkumar Chauhan, MD & CEO of the National Stock Exchange (NSE), said that the exchange was set up in response to the Harshad Mehta scam, which exposed the fact that brokers were running exchanges for their own benefit. Chauhan emphasised the need of professional management in exchanges and discussed the challenges of regulatory changes, noting that such changes are difficult but essential. Find out more

• As the National Payments Corporation of India (NPCI) deadline to impose a market cap on UPI players approaches, Sharath Bulusu, Director of Product Management at Google Pay, said he is expecting clarity from the NPCI. During a panel discussion at Bulusu said, "We are expecting clarity from NPCI. As long as there is clarity, we will work through it. We have worked through a lot of change as an ecosystem, generally." Find out more
  
  
• Life Insurance Corporation of India (LIC) Managing Director R Doraiswamy highlighted the company’s focus on leveraging technology as a catalyst to strengthen its agency force. He also noted that the younger generation is increasingly focused on protection-oriented insurance products, adding, “retirement planning is also catching up when it comes to insurance.” Doraiswamy further emphasised that the adoption of proper technology will enable insurance companies to price their products more effectively. More on that here

• The new regulatory framework for the equity derivatives segment will cause some short-term impact before stability returns, said leading experts. Prabhakar Tiwari, Chief Growth Officer at Angel One, acknowledged the phenomenal market growth witnessed post-COVID and emphasized that the regulations are introduced with the right intentions. Meanwhile, Shripal Shah, Managing Director and CEO of Kotak Securities, agreed that excesses have emerged in the F&O space and that regulatory measures are necessary. Dig deeper

Catch all the updates from Moneycontrol India Fintech Conclave in our liveblog or watch the recap of the event.

• Mobikwik Systems's shares made a strong debut on the NSE, opening at Rs 440, a 57.7% premium over its issue price of Rs 279. The stock further surged to a high of Rs 528, a 89.25% jump, before closing at Rs 525, up 20% from the opening price.
  
  
• Pune-headquartered fintech firm Easebuzz is in advanced talks to raise Rs 200 crore, with Bessemer Venture Partners emerging as a key potential investor, sources told us. The deal is likely to include an ESOP buyback, providing liquidity to employees and early backers.
  
  
• Indian startups are emerging from a period of layoffs and slow hiring, with a hiring surge of 20-30% expected in 2025 thanks to an improved funding landscape. This shift is underscored by a significant drop in layoffs within the sector, falling 46% year-on-year to 8,895 in 2024 compared to 2023, according to Layoffs.fyi.
  
  
• Food delivery major and restaurant aggregator Zomato will see inflows to the tune of $513 million, as the firm enters the 30-share BSE Sensex pack on December 23, according to domestic brokerage Nuvama Institutional Equities. Zomato emerged as the first new-age tech stock to gain inclusion into the frontline index as it is set to replace JSW Steel.
  
  
• Bureau, a Bengaluru-based risk intelligence platform focused on digital fraud prevention, has raised $30 million in funding. The round was led by Sorenson Capital, with participation from PayPal Ventures and existing backers, including Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.
  
  
• Yotta Data Services is in talks with private credit funds, including Oaktree Capital Management LLP, Cerberus Capital Management LP, and Davidson Kempner Capital Management LP, to raise approximately $500 million for investing in its data centre parks.