The Reserve Bank of India (RBI) is said to have put on hold licensing of the New Umbrella Entity (NUE) network, a fintech institution planned […]
Category: Fintech
Fresh KYC process can be done through video, says RBI
The Reserve Bank of India has released fresh guidelines for the know your customer (KYC) processes that allow for them to completed remotely. “Fresh KYC […]
PSBs to set up joint digital platform to connect with fintech companies
Public sector lenders including the State Bank of India will jointly set up a unified cloud-based digital platform to connect with fintech companies and source […]
Big 4 are now emerging as big force in M&A I-banking, too
The Big Four firms are striking large and complex mergers & acquisition (M&A) investment banking deals, hitherto the preserve of bulge bracket investment banks, after […]
Need similar regulations for banks and fintechs if underlying activity is same: RBI DG
Reserve Bank Deputy Governor T Rabi Sankar on Wednesday pitched for similar regulation for both banks and non-bank entities like fintechs if they are undertaking […]
Coordinated efforts taken to contain Chinese loan apps: FM in Rajya Sabha
Government departments and the Reserve Bank of India (RBI) are taking coordinated steps to check Chinese mobile apps offering easy loans and cheating people, Finance […]
HDFC Bank acquires 7.75 per cent stake in fintech start-up Mintoak for Rs 31.1 crore
One of India’s largest private sector lenders HDFC Bank on Wednesday acquired a minority stake in Mintoak Innovations Private Limited for Rs 31.1 crore. The […]
RBI shortlists 7 global consultancy firms to use AI, ML to improve regulatory supervision
The Reserve Bank has shortlisted seven global consultancy firms, including Pricewaterhouse Coopers, McKinsey and Boston Consulting Group (India), to use artificial intelligence and machine learning […]
UPI payment limit: This is the daily amount one can spend using GPay, PhonePe, and Paytm
Amazon Pay has also set a Rs 1,000,000 maximum money transfer limit via UPI. Notably, users can only transact up to INR 5,000 in the […]
UPI transactions see 650% rise at semi-urban, rural stores: Report
The unified payments interface (UPI) transactions witnessed a meteoric 650 per cent rise at the semi-urban and rural stores in India this year, a report […]