FinTechs

The Reserve Bank of India (RBI) has raised payment limits for UPI transactions in hospitals and educational institutions at its monetary policy meeting today. This and more in today’s ETtech Top 5.Also in this letter:■ Apple’s mega iPhone plans for India■ Phone makers seek competitive tax regime■ Infographic Insight: Smartphones — bane or boon?RBI announces relaxations, measures for under-scrutiny fintech sector RBI Governor Shaktikanta DasThe Reserve Bank of India announced a slew of measures for the fintech…

Bankers, payment companies and hospitals have welcomed the RBI decision to raise the UPI payment limits to hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh and also to hike the cap for e-mandates for recurring payments to Rs 1 lakh. Unveiling the monetary policy, Reserve Bank Governor Shaktikanta Das said the limit for various categories of unified payments interface (UPI) transactions has now been enhanced to Rs 5 lakh per transaction from the present Rs 1 lakh for payments to hospitals and educational…

Non-banking financial companies (NBFCs) are tightening norms for credit disbursal to lending startups, especially those offering small, unsecured loans, industry executives said.This follows the central bank’s strictures in mid-November requiring financial institutions to increase risk weights, or capital outlay, for unsecured consumer loans by 25%.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian…

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! We’re back and making up for lost time after taking off for Thanksgiving. Here we go! Webull, Yieldstreet and NomuPay go shopping Recently on the Equity Podcast, Alex Wilhelm and I talked about how M&A activity this year really didn’t happen at the pace we expected. The year started out strong, with a string of…

Indian fintechs are eyeing credit lines on UPI but banks want to put the brakes on the growth of unsecured credit. This and more in today’s ETech Morning Dispatch.Also in this letter:■ Quick commerce firms score big on WC final■ Sam Altman’s exit and key developments■ Taking stock of IT sector staff’s work hoursBanks wary of UPI credit even as fintech firms make big plans Hi, this is Pratik here in Bengaluru. Today my colleague Ajay and I write about how fintechs are looking at credit lines on UPI as the next big…

Fintechs such as Freo, Jupiter and PayU are betting big on bringing a credit card-like payment experience for consumers on Unified Payments Interface (UPI) that has emerged as the fastest-growing payments platform in the country.While RuPay credit cards on UPI was the starting point, fintechs are hopeful about a credit line on UPI picking up, company executives said.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School of…

Altos India has entered into partnership with SISA, a forensics-driven enterprise cybersecurity. This collaboration paves the way for Altos India to offer the Data Discovery and classification solution, RADAR, to its customers.RADAR is designed to empower organisations to visualise and classify their data based on criticality, providing a comprehensive 360-degree view of sensitive data across all environments. With the new Digital Personal Data Protection (DPDP) Act making it mandatory for organisations collecting…

With fintechs such as Paytm and PhonePe entering the credit ecosystem, ICICI Bank, Axis Bank, HDFC Bank and others are trying to get merchants to opt for their QR codes. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ Ideaforge IPO to open for subscription on June 26■ Tesla eyes India entry soon■ TCS wins $1 billion UK dealSquaring Off: Banks want their QR codes at merchant outlets Hi, this is Pratik Bhakta in Bengaluru. Today I write about how banks are trying to reclaim their share of merchant…

Hi, this is Tarush Bhalla in Bengaluru. Over the last couple of weeks, we have been writing about how credit is becoming the cornerstone of any fintech business in India. While first-generation credit fintechs are gunning for profitability, stock trading platforms are venturing towards lending to expand their revenue channels. While some, such as Cred and Jupiter, are preparing to build their own books, others are relying more on the partnership model with banks, i.e., co-lending, in regulatory parlance.In today’s edition…

Michael Beckley Contributor Michael Beckley is a co-founder and CTO of Appian, where he drives the technical vision for the company, leads product and solutions marketing teams, and oversees customer initiatives. When the economy is tight, financial institutions are faced with several mutually-reinforcing challenges. The temptation for bad action on the part of customers increases. This creates increased regulatory scrutiny, with the risk of massive…