Earlier this week, Economic Offences Wing (EOW) of the Delhi Police, in a status report to the Delhi High Court, said there were discrepancies in vendor invoices putting the focus back on the long-drawn saga between the Grovers and BharatPe, which started in January 2022, with both sides fighting a bitter and public battle in …
BharatPe vs Ashneer Grover saga: The story so far… Read More »
This was done on the basis of a look-out circular (LoC) issued against the two upon request by the Economic Offences Wing of Delhi Police.
The evolution of payment standards globally has been marked by a series of transformative shifts driven by technological advancements, digitalisation, and regulatory changes. In India, the Reserve Bank of India (RBI) has been at the helm of this evolution, steering the country through the waves of EMV migration, the rise of contactless payments, and the …
India crossed 300 mn tokens provisioning milestone in 2023: Report Read More »
Meanwhile, a fall in US retail sales in October after months of strong gains pointed to a cooling economy and strengthened expectations that the Fed is done hiking rates.
From being an early player offering online payments to internet companies back in 2011, to facing severe competition from new-age startups such as Paytm and Razorpay, to a failed attempt to acquire Billdesk and facing a merchant acquisition embargo from the Reserve Bank of India, PayU has had a chequered history in India.
The move shows how Europe’s lenders are carefully entering the crypto market after initially shying away from the asset class given the associated risks and potential for money laundering. The push comes during a recovery in the price for Bitcoin, the best-known cryptocurrency, following a slump that ensued last year when a string of high-profile …
Commerzbank wins crypto custody licence in digital assets push Read More »
Federal Bank has launched unified payment interface (UPI) lite functionality for small value digital payments. UPI Lite functionality is an offline small value UPI payment method which can be used within specified transactional limits. However there is no requirement of installing a seperate app for UPI Lite as existing UPI apps supports this feature.
Data showed US consumer prices were unchanged in October, and the annual rise in underlying inflation was the smallest in two years. In the 12 months through October, the CPI climbed 3.2% – below economists’ estimates – after rising 3.7% in September. However, the global cryptocurrency market witnesses a decline in values of major cryptos.
Banking infrastructure and lending solutions provider Knight Fintech is in final stages to close a $25 million funding round led by Accel. Existing backers 3one4 Capital and Prime Venture Partners are also expected to participate in the new funding round. However, final contours of the deal are still being worked out.
Ajay Kumar Choudhary, who was the previous executive director in charge of the fintech department has retired, said a senior banker in the know. Choudhary has been appointed to the board of RBI Innovation Hub, the person added.
