Fintech News

The ongoing festive season is proving to be a shot in the arm for the digital lending industry. This and more in today’s ETtech Morning Dispatch.

The correlation between crypto markets and macroeconomic factors underscores the evolving nature of both the cryptocurrency industry and the global financial system. As the traditional and digital financial worlds continue to converge, understanding the interplay between these two realms is of paramount importance

Operating profit — which Paytm defines as core profit before cost of employee stock-owing plans — came in at 1.53 billion rupees for the quarter ended Sept. 30, compared with a loss of 1.66 billion rupees a year earlier.Core profit in the first quarter was 840 million rupees.

But the question remains with Sebi becoming careful about the sudden spurt in retail participation in this risky trading segment, how long will the party last?

Surinder Chawla, the CEO of Paytm Payments Bank, has purchased two duplex apartments in Mumbai’s Lower Parel area for a total of Rs 20 crore. The apartments are located on the 42nd and 43rd floors of a luxury residential tower and offer a sea view. Chawla will also have access to four car parking slots.

EBITDA (before ESOPs) further improved in the second quarter to Rs 153 crore as against Rs 84 crore in the first quarter.

Google has collaborated with The Fintech Association for Consumer Empowerment (FACE) and onboarded them as a priority flagger to combat predatory digital lending apps on Play Store in India. The tech giant launched ‘DigiKavach’ at the 9th Edition of Google for India annual event taking place at Pragati Maidan, New Delhi.

As India prepares to embrace the festive season with lucrative offers and deals, Amazon Pay introduces EMI on rupay credit cards to drive affordability and convenience of online shopping for customers in India.

The company said it aims to resolve issues around opacity in exchange rates, exorbitant forex margins, and documentation challenges for different sectors, including the study-abroad sector, as well as trade and finance for small and medium enterprises.

India is the most interesting place after Silicon Valley and it is an exciting time for India’s startup ecosystem, Kumar said.