The homegrown Open Network for Digital Commerce (ONDC) will soon integrate banks such as HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech companies like Fibe, sources told us. This comes as the network began early pilots for credit disbursal through its platform, by partnering with Tata Group superapp Tata Neu and Paisabazaar.
‘Health Saathi’ plan will be available on the ‘Paytm for Business’ app.
A recent report by PWC India highlighted that while family offices are on the rise, with over 300 family offices in India, their major attraction has been in fintechs and startups, with a total funding of USD 853.6 million in CY23 raised in fintech.
Enhancing financial literacy and embracing technological advancements are key to realizing the vision of a self-reliant India, as envisioned by the Aatmanirbhar Bharat initiative. As fintech evolves, regulators, financial service providers, and customers must deepen their understanding of digital financial services.
While FinTechs and startups today are chasing growth, numbers and profitability, latest and exclusive data by Tracxn revealed that only 6 out of 22 FinTech unicorns are profitable while few FinTech unicorns fell out of the profitability curve or achieved breakeven in FY23.
Exchanges often charge a lower fee to brokers if they generate high volumes. Brokers, in turn, charge traders little to no fees, which has contributed to a surge in trading across segments like derivatives that the Securities and Exchange Board of India (SEBI) wants to curb.
The rollout of UPI acceptance will cover retail stores, dining outlets, and prominent tourist and leisure attractions like Dubai Mall and Mall of the Emirates.
FINTECH-CRYPTO/ROBINHOOD-Robinhood considering offering crypto futures in US, Europe, Bloomberg reports
Foreign portfolio investors (FPIs) have lapped up shares in Gurugram-based listed fintech firm PB Fintech, as its founders and early investors sold their shares, in full or in part, in multiple tranches. These transactions happened through bulk deals when several early-stage investors of the company exited the firm fully or partly after 2021, when it …
Global firms buy PB Fintech stakes from early backers Read More »
Paytm Payments Bank Ltd faces audit qualification disputes over viability, seeking RBI intervention. Compliance issues led to operational restrictions, prompting directions to transfer businesses. KYC guideline non-compliance has halted income generation and eroded net worth.
