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The RBI clarified that Tata Sons' inclusion is subject to the outcome of its pending application for deregistration as an NBFC.
The court's directive follows the RBI’s decision to revoke Paytm Payments Bank's banking licence in April.
The latest round gives ServiceNow Ventures an around 5% stake in the Noida-based company.
Aspora, which aims to become neobanks for NRIs, built its tech infra for NRI banking in 2024. But...
The deal is expected to be completed by September 2027, pending regulatory clearance from the Competition Commission of India.
The round also saw participation from Razorpay Ventures, GrowthCap Ventures, and Atrium Ventures, along with angel investors including Kunal Shah (CRED), among others.
Existing Razorpay merchants can access the feature without any additional integration, as it is already available through the company's checkout ecosystem.
The move comes as India's primary market continues to see strong listing activity, with a growing pipeline of startups and new-age companies preparing to go public.
As part of the collaboration, HSBC plans to develop more than 200 AI use cases over the next two years.
The latest action is part of the RBI’s ongoing efforts to strengthen oversight of the NBFC sector.
The approval, granted under the NBFC-ND-ICC category, will enable the company to directly offer secured mortgage loans to borrowers.
The Mumbai-based non-banking financial company's net loss widened to Rs 333.27 crore in FY26 from Rs 288.34 crore in the previous year.
The Bengaluru-based non-banking financial company's net profit fell 46% to Rs 93.32 crore in FY26 from Rs 172.27 crore in the previous year.
A majority of the affected entities were registered in West Bengal and Delhi.
The central bank has also directed Maharashtra’s Registrar of Cooperative Societies to begin the bank’s liquidation process and appoint a liquidator.
The funding round also saw participation from Prime Venture Partners, Magnifiq Capital Trust, and other angel investors.
Federal Bank's decision comes months after private equity giant Blackstone said it will invest about $705 million in the India lender.
The NBFC license will allow the fintech company to launch a new lending division -- MobiKwik Financial Services Pvt Ltd.
The company claims its pre-built APIs and orchestration layers will simplify onboarding to Banking Connect for participating banks.
In today’s edition, we look decode the banking redux underway; and how AI companies are luring India’s billion internet users with “free” tools.
