lending

The Reserve Bank of India will soon come out with regulatory architecture for digital lending platforms, many of which are unauthorised and illegal, Governor Shaktikanta Das said. There have been increasing cases of alleged suicides of borrowers due to harassment by a few of the operators of digital lending apps. "I think very soon we will be coming out with a broad regulatory architecture, which should be able to address the challenges that we are confronted with regard to lending through digital platforms, many of which…

With a total population of over 1.8 billion worshippers, Islam is the second most practiced religion globally. Like many other religions, Islam requires worshippers to follow its religious laws in every aspect of their lives. These religious codes fall under Sharia law.Specific countries like the US have laws and regulations for the financial industry. Sometimes these laws and regulations are in place to simply monitor and control the sector, and other times countries enforce outright bans.However, there are also…

Apple has joined the thriving “buy now, pay later” industry, with a customized service called Apple Pay Later. The service was announced earlier this week at the 2022 Worldwide Developers Conference, and will initially be launched in the United States later this year. Pay Later will be built into the Apple Wallet and eligible for use on any purchase made through Apple Pay. Customers will be able to split the cost of a purchase into four equal payments, with zero interest and fees, spread over…

Customers borrowing from unregistered digital lending apps should approach the local police in case of any issue, Reserve Bank Governor Shaktikanta Das said on Wednesday, making it clear that the central bank will only act against entities registered with it. In remarks that came in the wake of a spate of alleged suicides abetted by harassment by agents or officials of lending apps, Das said most of the digital lending apps are not registered with the central bank and operate by themselves.Das said whenever it gets a…

The revival of the Terra Luna token is still dominating crypto news today, with Bitcoin’s continuing losses also trending While ‘Luna’ has been the most dominant search term according to Google Trends, Bitcoin has now flipped the resurrected cryptocurrency. Solana has also been in the news for an eight-hour outage yesterday that was partly responsible for Cardano (ADA) reclaiming the 6th spot in the crypto market cap rankings. In other crypto news, EverGrow Coin has gained attention for its unique proposal in…

For Supreme Lending, flexibility is a crucial concept. After the pandemic pushed all of its employees to work from home, the company now lets them decide when and where they work, says Dale Petrillo, Supreme Lending regional branch manager. “Everyone had different situations in their home lives, and we want the work environment to be conducive to their needs,” Petrillo says. “We have some folks that are choosing to come in the office every day, some are in the office a couple of days per week, and others who are working…

In an interview Tuesday with CNBC's Jim Cramer, Upstart Holdings CEO David Girouard sought to downplay investor concerns about the increased loan balance held on the financial technology firm's balance sheet at the end of its first quarter.Shares of the artificial intelligence lending platform plunged 56.42% Tuesday, closing at $33.61 apiece, one day after it also lowered its full-year outlook for revenue and adjusted EBITDA margin. Upstart cited rising interest rates and broader economic uncertainty for the revised…