British fintech company Revolut said Thursday it had obtained a long-awaited UK banking licence — but must wait to lend money and take deposits as it remains in a restrictive phase. In the UK, the Prudential Regulation Authority has granted the fintech entry into the “mobilisation” stage, Revolut said Thursday.
The budget proposal to bring parity on long-term capital gains (LTCG) tax across all financial assets and abolish the angel tax will lead to more family offices investing in startups. These entities have increased their activity in startups over the past year. As per a PwC report, there were 45 family offices in 2018, which …
LTCG tax parity may bring more family offices to the startupland Read More »
Industry is hopeful that eventually this will be scaled up, and a higher sum of money will be disbursed to banks which will eventually be paid to payment applications. To promote digital payments the central government has made low value UPI and RuPay debit card payments at zero cost.
Kunal Shah-led Cred is unveiling a new service called Cred Money to help customers manage their bank accounts. With Cred Money, users can track usage over multiple bank accounts and understand their spending patterns. They can also use Cred’s in-built UPI offering to make payments. Shah told ET that Cred will work with RBI-licensed account …
The reduction in digital payment incentives raises concerns about the future growth and sustainability of UPI and other digital payment methods, especially given the significant costs involved in maintaining the payments infrastructure.
Industry is hopeful that eventually this will be scaled up, and a higher sum of money will be disbursed to banks which will eventually be paid to payment applications. To promote digital payments the central government has made low value UPI and RuPay debit card payments at zero cost.
The partnership will enable Paytm to expand its presence by reaching a broader merchant base through Axis Bank. At the same time, it will enhance the latter’s merchant acquiring portfolio by improving transaction efficiency, according to a statement released on Tuesday.
Top venture capitalists and investors commented that the abolishment of angel tax will attract not just domestic investors but also foreign investments and will also bring confidence in the startup ecosystem as well as among investors.
The announcement to abolish angel tax for all classes of investors was made during the presentation of Budget 2024-25 in the Lok Sabha.
NPCI introduces ‘UPI One World’ wallet service for international travelers in India, offering a cashless payment solution linked to UPI. The service simplifies transactions for foreign nationals and NRIs from G20 countries, providing a convenient alternative to carrying cash.
