Friday, December 01, 2023
Outlook India
Outlook Business

Reserve Bank Of India

RBI’s extension of PIDF scheme to include soundbox devices and QR codes has been received well by fintech players, with many believing it be a step in the right direction to promote financial inclusion and digital transactions

The RBI will time its regulations in such a way that the industry is allowed to grow, Sankar said, adding that the young innovators' focus is on innovations and not so much on regulations at present

According to the council, the amendments bring several changes to the KYC process for REs (Regulated Entities), including the revision of the threshold of 'beneficial ownership' for registered 'company' and 'trust' to 10 per cent from the earlier 25 per cent...

Through this partnership, the YES BANK account holders will be able to collect payments in over 30 foreign currencies using the Global Collections service

With this license, the company aims to provide more flexible and accessible funding without equity dilution to thousands of emerging SMEs

The partnerships will entail the setting up of BrightCHAMPS Next-Gen Labs within schools and training its teachers in the curriculum by industry experts and vetted by self-regulatory board called the BrightCHAMPS Global Curriculum Advisory Board

The move is expected to increase the fintech firm's revenue and margins and allow it to offer longer-term personal loans with higher ticket sizes

The move is to comply with RBI's guidelines and ensure a secure payment experience for Visa cardholders

With the quick platform adoption and the market potential in India, Tide is confident that 10 lakh SMEs will join its platform and benefit from its digital business banking suite by the end of the year 2024

REL plans to expand its offerings in the insurance distribution space with the acquisition, which will help the company strengthen its insurance offerings and digital evolution