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Fintech News

No foreclosure charges, prepayment penalties on floating rate loans: RBI

No foreclosure charges, prepayment penalties on floating rate loans: RBI

24 Feb 2025, 01:31 AM

The RBI wants lenders to eliminate foreclosure charges or pre-payment penalties on all floating rate loans availed by individuals and micro and small enterprises.

MobiKwik acquires 3.39% stake in API infra startup Blostem Fintech

MobiKwik acquires 3.39% stake in API infra startup Blostem Fintech

24 Feb 2025, 01:13 AM

Founded in 2021 by Ravi Jain and Sandeep Garg, Blostem is a B2B banking infrastructure platform specializing in Fixed Deposit (FD) aggregation.

Paytm launches solar-powered soundbox

Paytm launches solar-powered soundbox

24 Feb 2025, 01:00 AM

This device is equipped with a solar panel on top, allowing it to auto-charge under sunlight.

Sachin Bansal-led Navi eyes IPO in second half of FY26

Sachin Bansal-led Navi eyes IPO in second half of FY26

21 Feb 2025, 15:14 PM

In September 2022, the company secured Sebi approval for a Rs 3350-crore ($440 million) public offering. However, the plan was shelved then.

InCred buys Dubai-based financial advisory firm Arrow Capital

InCred buys Dubai-based financial advisory firm Arrow Capital

20 Feb 2025, 23:11 PM

Post acquisition, InCred Global Wealth will manage assets exceeding $2 billion across Dubai, Singapore, and London.

Paytm Money pays Rs 45.50 lakh fine to settle case with Sebi

Paytm Money pays Rs 45.50 lakh fine to settle case with Sebi

20 Feb 2025, 23:09 PM

In a settlement order, Sebi said it had issued a show-cause notice to Paytm Money for violating several provisions of the SEBI Act, 1992.

Lizzie Chapman quits Reliance-backed API infra company Swiffy Labs

Lizzie Chapman quits Reliance-backed API infra company Swiffy Labs

20 Feb 2025, 23:08 PM

Chapman co-founded Swiffy Labs in August 2023 after stepping down from her previous venture ZestMoney.

Zeta raises $50 million at a valuation of $2 billion

Zeta raises $50 million at a valuation of $2 billion

16 Feb 2025, 01:50 AM

The new investment from US-based healthcare firm Optum values the banking tech company at $2 billion.

RBI lifts ban on Kotak Mahindra Bank nearly after 10 months

RBI lifts ban on Kotak Mahindra Bank nearly after 10 months

13 Feb 2025, 23:46 PM

In April last year, the RBI restricted Kotak Mahindra Bank from onboarding new customers through online channels and issuing new credit cards.

Coinbase plans to re-enter India market

Coinbase plans to re-enter India market

13 Feb 2025, 23:27 PM

The US-based crypto trading platform is reportedly engaging with various Indian authorities such as the Financial Intelligence Unit (FIU).

Hitachi Payment invests in Spydra Technologies

Hitachi Payment invests in Spydra Technologies

12 Feb 2025, 23:38 PM

The company aims to develop and introduce offerings in the domains of Web 3.0, Central Bank Digital Currency (CBDC) and blockchain technology.

Easebuzz gets final nod from RBI to operate as payment aggregator

Easebuzz gets final nod from RBI to operate as payment aggregator

12 Feb 2025, 20:54 PM

Easebuzz claims it processes an annualized gross transaction value (GTV) of $30 billion, serving more than two lakh businesses.

Razorpay promotes Khilan Haria as its chief product officer

Razorpay promotes Khilan Haria as its chief product officer

12 Feb 2025, 20:37 PM

Haria, who joined Razorpay in 2019, previously served as senior vice president-product at the Bengaluru-based payment aggregator.

LiquiLoans reports 3.4x jump in FY24 revenues to Rs 696 crore

LiquiLoans reports 3.4x jump in FY24 revenues to Rs 696 crore

12 Feb 2025, 20:19 PM

In August last year, the Reserve Bank of India (RBI) tightened regulations on the peer-to-peer (P2P) lending sector, leading most platforms to halt operations.

Perfios acquires fraud detection platform Clari5

Perfios acquires fraud detection platform Clari5

12 Feb 2025, 19:32 PM

With this acquisition, Clari5 will become a wholly owned subsidiary of Perfios; and will continue to operate independently.

Infibeam Avenues’ Rediff.com secures UPI payments licence

Infibeam Avenues’ Rediff.com secures UPI payments licence

12 Feb 2025, 19:00 PM

This license from NPCI enables RediffPay to offer Unified Payments Interface (UPI) services to its users.

Cashfree raises $53 million led by Korean firm Krafton, Apis Partners

Cashfree raises $53 million led by Korean firm Krafton, Apis Partners

05 Feb 2025, 15:56 PM

The capital will accelerate Cashfree’s payments offering and boost market outreach, the Bengaluru-based payment aggregator said in its statement.

Ujjivan Small Finance Bank submits application for universal banking licence

Ujjivan Small Finance Bank submits application for universal banking licence

04 Feb 2025, 21:14 PM

The RBI recently set up a committee to evaluate applications for universal banks as well as small finance banks.

Infibeam posts 50% jump in Q3 profits

Infibeam posts 50% jump in Q3 profits

04 Feb 2025, 21:00 PM

Payment business accounted for 94% of its total revenues which stood at Rs 1,010 crore; whereas the e-commerce platform business' contributed Rs 60.3 crore.

OfBusiness transitioning into public entity as it moves closer to IPO

OfBusiness transitioning into public entity as it moves closer to IPO

03 Feb 2025, 15:58 PM

The company's board has approved a resolution to change its name from 'OFB Tech Private Limited' to 'OFB Tech Limited'.

Who Reads Us

Fintech Highlights

  1. Groww doubles profit as revenue crosses Rs 1,500 crore in Q4 FY26

  2. FinBox co-founder & COO Anant Deshpande steps down

  3. Online Gaming Act, regulator to come into force from May 1

  4. Neokred founders sent to judicial custody in betting-related GST evasion probe

  5. Rainmatter backs PrimeInvestor, founded by former FundsIndia.com co-founder
  6. Read more news...

AI/Emerging Tech

  1. LightFury Games bags $11 million from Blume, MS Dhoni, others

  2. OpenAI and Infosys partner to scale AI across enterprises

  3. Kabeer Biswas' startup M attracts funding from Peak XV, Blume, Cred

  4. Apple names John Ternus CEO as Tim Cook becomes executive chairman

  5. Pentathlon Ventures leads seed funding in Intellithink
  6. Read more news...

IPO Tales

  1. Turtlemint IPO: Behind its 8x revenue jump, an internal deal does the heavy lifting

  2. Shiprocket IPO: A profitable core, costly emerging bets

  3. Fractal IPO: A bountiful harvest for PE investors, now comes the real AI test

  4. Boat IPO: A second shot amid management shake-up, flat revenues, eager to exit investor
  5. Read more news...

Money & Machines

  1. 'Guilty, until proven innocent'; The ARR illusion

  2. Rishi Gupta is out on bail. What next?; The cost of frivolous AI use

  3. Fintechs' Dubai Dream; Founders' AI Second Act

  4. A CEO arrested, hearing delayed; Sarvam's AI pitch
  5. Previous editions...

PE/VC Tales

  1. Enterprise bets pay off as Arali Ventures eyes ‘larger’ third fund

  2. TDV Partners bullish on consumer over AI, plans bigger fund

  3. Peak XV top partners exit, a key retention marks a week of upheaval

  4. Silverneedle eyes 10x larger second fund, plans first semiconductor bet
  5. Read more news...

Editor's Pick

  1. Exclusive: Reserve Bank of India cracks down on misuse of education payments

  2. Inside Rebel Foods, Droom backer Lightbox's post-exodus reset

  3. The LAP rush and MSME mirage: Is fintech lending building its next risk? [Part-3]