Mumbai: Self-regulation will go a long way in avoiding conflicts with the Reserve Bank of India, and foster trust between the regulator and fintech firms, said experts, amid escalating tensions between the central bank and certain industry stakeholders, sparked by RBI’s actions against Paytm Payments Bank. Mumbai: Self-regulation will go a long way in avoiding …
One 97 Communications is resigned to losing its associate, Paytm Payments Bank, the entity at the centre of the crisis surrounding the fintech. However, it feels that if there is even a slight chance of its survival through an acquisition, then it is ready to take it. Sources said that the outlook for the bank …
India and the United Arab Emirates (UAE) are scripting a new history, partnering in areas such as fintech and innovation to build on a relationship that dates back thousands of years, Prime Minister Narendra Modi said on Tuesday. Prime Minister Narendra Modi during the ‘Ahlan Modi’ programme, in Abu Dhabi, UAE, on Tuesday. (PTI) The …
Axis Bank Managing Director and Chief Executive Officer Amitabh Chaudhry said on Monday that the private lender is open to working with Paytm if the Reserve Bank of India (RBI) allows it. “Subject to regulatory approval and if the regulator allows us to work with Paytm, of course we will work with them, they are …
Disappointed by the lack of legislation, Grover said, “Seems to be a $20 billion glass ceiling and the moment you hit it it seems the only way to go is down. Structurally we in India are not ready for big start-ups. Over the last 10 to 12 years startups in India have emerged organically, and …
New Delhi: Vijay Shekhar Sharma, one of the most recognised faces of India’s fintech industry, has seen a fair share of controversies. Sharma launched Paytm – an acronym for ‘pay through mobile’ – offering mobile recharges. He launched wallet services in 2011 but the big push came with the 2016 demonetisation. He took out front-page …
Two months before the Reserve Bank of India or RBI on Wednesday ordered Paytm Payments Bank to stop accepting fresh deposits in its accounts or popular digital wallets from March, Warren Buffett-owned Berkshire Hathaway sold its entire stake in One97 Communications Ltd, the parent company of fintech major Paytm, in a large block deal in …
MUMBAI: PB Fintech, the parent company of Policybazaar and Paisabazaar reported its first quarterly profit in the December quarter, joining the ranks of listed profitable peers like Nykaa and Zomato. The company posted net profits of Rs 37.2 crore on a consolidated basis in Q3FY24. In the year ago-quarter, the firm had recorded losses of …
Mumbai: The Reserve Bank of India has come out with a draft framework that lays down broad functions, governance standards, and eligibility criteria for setting up a self-regulatory organization for fintech companies (SRO-FT). However, the RBI has left it to the industry to decide whether there should be a single SRO or multiple SROs. “Given …
Binance cofounder and CEO Changpeng Zhao speaks during the 2022 Web Summit in Lisbon, Portugal, on Nov. 1, 2022. Ben Mcshane | Sportsfile | Getty Images Outflows from Binance have amounted to more than $1 billion in the past 24 hours, not including bitcoin, according to data from blockchain analysis firm Nansen, after founder and …