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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 »
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 …
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 »
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 »
PB Fintech Q3 Results: Revenue from operations increased 43% year-on-year (YoY) to Rs 871 crore. Revenue from its core online marketplaces – Policybazaar and Paisabazaar – grew 39% to Rs 593 crore, while the adjusted operating profit improved by Rs 50 crore YoY. The total operating revenue for the nine months ended December was Rs …
PB Fintech Q3 Results: Policybazaar parent posts Rs 38-crore PAT vs loss a year ago Read More »
PB Fintech Q3 results: PB Fintech, operator of policybazaar, to report Q3 results today with expected revenue growth of 34% YoY and first positive profit. Analysts predict a profit of Rs 26.9 crore. The company’s Q2 revenue from operations grew at 42% YoY to Rs 812 crore. JM Financial expects strong growth in insurance premium …
Bitcoin aims for fifth straight monthly gain, fueled by pandemic-era rally and shifting views on monetary policy. The digital asset rose 2% in January amid swings from US spot Bitcoin ETF rollout. BlackRock Inc. and Fidelity Investments launched Spot Bitcoin ETFs, attracting new investors and contributing to Bitcoin’s 160% surge last year. Grayscale Bitcoin Trust …
Bitcoin heads toward winning streak last seen in pandemic before record high Read More »
Rajagopal Menon says Indian crypto industry seeks level playing field, stable banking connections, and optimized taxes in upcoming budget. Regulatory measures expected to address TDS reduction, loss tax rule change, and taxation alignment with equity shares. Support for innovation and blockchain development crucial, G20 roadmap to be followed, optimized crypto taxes to boost investor confidence …
