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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.
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.
Flipkart is supporting a separate entity within the group to distribute personal loans and create an independent credit marketplace, possibly named Super.money.
India is in discussions with other jurisdictions to address the high cost of cross-border remittances, according to Reserve Bank Deputy Governor T Rabi Sankar. He described the current situation as “unconscionable” given the availability of cheap data connectivity. Sankar suggested that the introduction of a central bank digital currency (CBDC) could lower the cost of …
The tourism industry in India is experiencing an upsurge, with Foreign Tourist Arrivals (FTAs) reaching 6.19 million in 2022, a substantial increase from the 1.52 million recorded during the corresponding period in 2021.
PhonePe, the Walmart-owned fintech, has captured nearly 50% of the market share in UPI transactions in terms of value. It now accounts for 47.2% of UPI transactions in terms of volume. With banks not making money on UPI transactions, third-party apps like PhonePe, Google Pay, and Paytm dominate the space, accounting for nearly 95.7% of …
BharatPe’s strategy of focusing on lending appears to be paying off, with the company achieving threefold revenue growth while significantly reducing losses.
According to at least two people in the know, Cred’s move towards vehicle management is also aimed at providing a strong car insurance distribution platform for its financial partners, as the fintech looks to open newer revenue streams.
Aye said Gupta has served as the MD and CEO of PNB Housing Finance, while Bhal is the Modi Chair Professor at the Department of Management Studies at IIT Delhi.
