In the upcoming months, there will be an integration process with both entities (Slice and North East Small Finance Bank) working diligently to ensure a smooth transition for all its customers.
Several ZestMoney borrowers have alleged loan closure discrepancies with ZestMoney including the deduction of EMIs even after the loan is closed and low CIBIL scores with closed loans being shown as open.
The licence, granted by the Monetary Authority of Singapore (MAS), will allow Ripple to provide regulated digital payment token services. It had received initial approval in June.
The collaboration between Bhashini and RBIH comes against the backdrop of a transforming fintech sector, driven by increased smartphone penetration and reduced data usage costs.
The MoU (Memorandum of Understanding) will be signed on development of domestic card scheme of UAE based on India’s RuPay debit and credit card stack, the official added.
For Slice which has been running as a non-banking finance company for the last four years, the option was to either convert itself into a bank by applying for a fresh licence or acquiring one (after crossing the five-year mark as an NBFC).
In his new role, Anirban will join the Prosus leadership team and report directly to Ervin Tu, Prosus and Naspers Interim CEO. He will be responsible for the overall business operations of PayU.
The Major Payment Institution (MPI) licence, granted by the Monetary Authority of Singapore (MAS), will allow Coinbase to offer digital payment token services to individuals and institutions in Singapore, which has emerged as a centre for crypto in Asia in recent years.
Internally, the Fi is experimenting with a new user onboarding flow called Fi Lite, where customers are not mandated to open a digital banking account anymore, rather can directly opt for credit products. Fi is also planning to rejig its one-time joining fee of Rs 2,000 for credit card customers to expand its card base.
In terms of the total value of funds settled, UPI recorded Rs 15.80 lakh crore in September, slightly more than the Rs 15.76 lakh crore recorded in August.
