Paytm CEO Vijay Shekhar Sharma in a conference today said that RBI’s action on Paytm Payments Bank is more of a speed bump and that Paytm is already in talks with other banks to transfer its payments bank business.
Investors question if Paytm Payments Bank can thrive without regulator’s trust. The Reserve Bank of India’s ban on deposit or credit transactions has frozen the bank. Paytm can switch fintech customers to another institution but the ban signals regulatory concerns. The RBI’s ban follows persistent non-compliances and material supervisory concerns. It also mandates termination of …
Paytm’s Plight: India’s fintech pioneer has lost more than its bank Read More »
Faryar Shirzad, Chief Policy Officer at Coinbase, said the firm would rely on Osborne’s “insights and experiences as we grow Coinbase around the world.” Coinbase, the world’s largest publicly traded cryptocurrency exchange, was sued by the Securities and Exchange Commission alleging it is flouting its rules. Read on to know more:
The failed negotiations underscored the fact that FTX was never what it appeared to be, and founder Sam Bankman-Fried never built the underlying technology or administration necessary to run the company as a viable business, Dietderich said. Bankman-Fried has been convicted on fraud charges related to his operation of FTX.
In line with its jurisdiction under Section 35A of the Banking Regulation Act of 1949, the Reserve Bank of India has directed Paytm Payments Bank Ltd. (PPBL or the bank) to immediately suspend onboarding new clients.
The RBI order further read that withdrawal or utilisation of balances by the bank’s customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards, etc. will be permitted without any restrictions, upto their available balance. It added that no other banking services, like fund transfers (irrespective of name …
RBI orders Paytm Payments Bank to stop deposits and credit transaction after February 29 Read More »
New Delhi [India], TigerPay, the Dubai-based fintech startup founded in 2023 by Prabh Singh, is revolutionizing payment solutions for SMEs in the region with its flagship product, softPOS, and QR and link payments. The funds will be used to grow the merchant base, develop a neobank and the largest SME lending platform in the region. …
Ashneer Grover backs Dubai based fintech startup – TigerPay Read More »
Yashish Dahiya of PB Fintech, discusses the contribution margin and EBITDA margin of the business. He highlights the significance of renewals and the higher margin they bring compared to fresh business. Dahiya also mentions the impact of ESOPs and the company’s strategic focus on expanding services and controlling more of the value chain. He mentions …
The funding will help SalarySe in developing its technology stack for Credit-on-UPI and drive the adoption of the product in India. Less than 4% of Indians have access to a credit card, making the country’s revolving credit market among the lowest penetrated in major economies. Comparatively, revolving credit penetration in economies like the USA and …
Fintech startup SalarySe raises $5.2 million in seed funding Read More »
Jack Dorsey’s financial services company Block is laying off close to 1,000 employees, which will affect staff in the Cash App, Afterpay and Square subsidiaries of the company. In an earnings call last year, Block had said it would reduce its headcount from 13,000 in Q3 2023 to an “absolute cap” of 12,000 by the …
Jack Dorsey’s fintech firm Block lays off nearly 1,000 employees Read More »
