Paytm’s net loss for the latest quarter decreased to 2.2 billion rupees ($26.5 million), beating analysts’ estimated loss of 2.55 billion rupees. The fintech company achieved operating profitability last year and plans to use artificial intelligence to further reduce expenses. Paytm also disbursed 4.9 billion rupees in high-value loans and saw growth in its devices …
Paytm posts narrower loss as payments business grows Read More »
According to a recent report by S&P Global, the long drawn-out bearish cycle for startup funding may be showing signs of a bottom. To the industry’s relief, the most recent quarter registered a slowdown in declines across most fintech segments and geographies after several quarters of high double-digit declines.
Bitcoin fell 3.2% to $41,381 in early trading on Friday, while Ethereum fell 2.5% to $2,467. “The market is witnessing an unexpected downward trend as BTC faces selling pressure due to heavy outflows from ETPs to new spot ETF issuers,” said Shivam Thakral, CEO of BuyUcoin. Read on to know more:
From banks that want to cross-sell insurance products to ecommerce companies offering to insure large-ticket purchases to travel aggregators offering insurance against flight delays, companies are roping in insurance technology startups such as Zopper, Riskcovry, and OneAssure to power such sales.
The recent regulatory requirements are not threats but necessities to create a safe, secure, transparent and accountable regulatory environment, with the ultimate goal of protecting the interests of the consumer. The aim is to ensure that crypto cannot be used for illicit activities such as money laundering and terror financing, said the expert.
As the Indian crypto industry eagerly awaits the Interim Budget 2024, experts are focused on how the Central Government will shape regulations for virtual digital assets (VDAs). One key demand is the abolition of the 1% Tax Deducted at Source (TDS), which hampers investor participation. Industry voices hope for a reduced TDS rate of 0.01% …
What Indian crypto industry is hoping for from Budget 2024? Here’s the wishlist Read More »
Indian investors can now buy crypto ETFs by depositing INR in Indian exchanges or through the Liberalised Remittance Scheme (LRS) route. The LRS route allows investors to send up to $250,000 per year to a US brokerage account and take exposure to the ETF. However, using the LRS route may incur a 20% TCS on …
How can Indians invest in Bitcoin ETFs in the US? BitBNS’ Gaurav Dahake answers Read More »
Paytm is expected to post solid revenue growth for the third quarter. Revenue from operations may grow 32% YoY and rise 8% sequentially. Losses are expected to narrow to Rs 280 crore. Analysts expect operating profit to increase, driven by improved contribution margin. In Q2, Paytm’s revenue from operations improved 32%.
It is the SaaS (Software as a Service) and fintech founders have the highest focus on profitability, and majority (almost two-thirds) of growth and late-stage founders are the ones prioritising profitability over growth.
The deal will give DMI the exclusive right to use all brands of ZestMoney, with its non-banking finance company (NBFC) arm DMI Finance becoming the preferred lender on Zest’s platform, it said in a statement on Wednesday.
