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Top Indian banks like SBI, HDFC, and Axis adopt GenAI for better services. BFSI forecasts $13.2B IT spending in 2024. Setu, AdvaRisk, Velocity, and Gnani.ai assist in AI-led innovations like fraud detection, chatbots, and Microsoft partnerships. Prioritizing ethical AI, productivity, and human involvement ensures accuracy. Emphasizing UPI digitization enhances overall efficiency.
Prime Minister Narendra Modi has launched a Rs 29,000 crore investment drive in Mumbai, focusing on crucial infrastructure projects in roads, railways, and ports. This aims to elevate Maharashtra as a global financial powerhouse, with Mumbai set to lead in fintech. PM Modi highlighted the projects at Goregaon’s NESCO Exhibition Centre, emphasizing their role in …
India is expected to double retail digital payments to USD 7 trillion by 2030, according to a study by Kearney and Amazon Pay. The report, ‘How Urban India Pays’, suggests that affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), using various modes of digital payment for 80% of their …
India to see retail digital payments to double to $7 tn by 2030: Report Read More »
Startups in India have high expectations from this year’s upcoming Union Budget. The early-age startups expect the removal of angel taxes, whereas the health tech startups expect increased funding for the sector.
Paytm parent One 97 Communications has reported that domestic investors and mutual funds have upped their holding in the company, in the first quarter of FY25. Retail investors grew their stake by 1.3% in the quarter, while mutual funds upped their holding by 0.65%.
“We will have one private round before the IPO. That will be our last private fund raise after which we will prepare for the IPO,” said Madhusudan Ekambaram, co-founder & CEO, KreditBee. “The private round will happen within one year from now. After which we will look for the correct market conditions to list, and …
Nithin Kamath, co-founder of Zerodha, has raised concerns about structural unemployment among Indian youth, emphasizing the need for targeted measures in the upcoming Union Budget. Despite India’s impressive economic growth rates, issues with job creation persist, particularly in formal sectors. Kamath highlighted the importance of stimulating entrepreneurship in rural areas often overlooked by traditional investors, …
Bhanshali holds 19 stocks besides Paytm, totaling over ₹5,980.4 crore. Notably, retail investors increased their stakes in the company by 1.30% in the April-June quarter, reaching 16.56%.
Partior, supported by DBS, JP Morgan, Standard Chartered, and Temasek, secured $60 million from Peak XV, Jump Trading, and Valar Capital. The funds will boost network expansion, integrate RTGS systems, and develop FX swaps, liquidity management, and cross-currency repos. Founded in 2021, it offers real-time, multi-currency clearing for banks in London, New York, and Singapore.
Invesco has reduced the fair value of fintech company Pine Labs and food delivery firm Swiggy in its latest shareholder report. Pine Labs’ value decreased from $4.8 billion to $3.5 billion, while Swiggy’s valuation was also adjusted. Both companies are exploring potential IPOs amid market fluctuations.
