Licence

Founded by former Silicon Valley engineers, UK-based Griffin Bank bills itself as an API-driven ‘Banking as a Service’ platform. After raising $28.1 million, it has now raised another $24 million (£19 million) in a fresh, extended Series A, funding round led by MassMutual Ventures, NordicNinja and Breega, with participation from existing investors Notion Capital and EQT Ventures. In June last year Griffin raised a $13.5 million in a Series A round led by MassMutual Ventures, with participation from existing…

Ashneer Grover, cofounder and former managing director of BharatPe, has written to the Reserve Bank of India (RBI), asking the banking regulator to initiate an investigation into the shareholding of the Peak XV-backed company. BharatPe is a joint-venture partner in Unity Small Finance Bank with the Centrum group.Grover said in a letter dated March 6, addressed to RBI governor Shaktikanta Das, that BharatPe has deliberately “defrauded” the regulator by bringing back Bhavik Koladiya, who was convicted of a wire fraud in the…

Amazon Pay has received a payment aggregator licence from the Reserve Bank of India (RBI). This and more in today’s ETtech Top 5.Also in this letter:■ Adani-Uber EV fleet partnership ■ ETtech Done Deals■ Carmakers tap influencersAmazon Pay secures payment aggregator licence from RBI Amazon Pay, the digital payments arm of ecommerce major Amazon India, has received a payment aggregator (PA) licence from the Reserve Bank of India (RBI).It now joins the likes of Zomato, Google Pay, Zoho and others to become…

Paytm Payments Bank has told the Enforcement Directorate (ED) that it does not possess the licence required for outward foreign remittances and hence the question of it violating Fema does not arise, people in the know told ET. The federal agency last week wrote to the Reserve Bank of India (RBI) to verify this claim, they said.The 'AD-II' licence issued by the RBI is mandatory for companies to make foreign remittances.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD…

Reported By: Sharad PandeyLast Updated: February 21, 2024, 15:45 ISTThe ministry of road transport and highways has issued an order on this matter. (Representational image/PTI)All the work at the RTO happens through the Parivahan and Sarathi portals. From January 31 to February 12, both these portals were not working due to technical snags. Because of this, the renewal of learner's, driver's, and conductor's licences could not be done onlineIf your learner’s licence or driving licence has expired or if you were trying to…

Merchant-led digital payments provider Mswipe Technologies on Monday said that it has been granted payment aggregator (PA) licence by the Reserve Bank of India (RBI).This comes after the company received an in-principle nod from the central bank to operate as a PA in August 2022.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiIITD…

PB Fintech on Friday said that its wholly-owned subsidiary Policybazaar Insurance Brokers has been granted in-principle approval from the insurance regulator to upgrade its licence, allowing its entry into the reinsurance business.According to PB Fintech, the approval will allow Policybazaar “to deepen the insurance penetration in the country” and bring “more technology, process control and data analytics based innovation into reinsurance capacity”. Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Sebastian Barry, 68, is the author of 11 novels and 15 plays. Five of his books have been long- or shortlisted for the Booker prize, and his novels have won numerous awards, including the Costa book of the year (twice) and the Walter Scott prize for historical fiction. He was laureate for Irish fiction from 2018 to 2021. His latest novel, Old God’s Time, is about a retired policeman, Tom Kettle, and his struggles with the legacy of institutional child abuse in Ireland. It has been described as “a tour de force of…

The Reserve Bank of India (RBI) alerted the Directorate of Enforcement (ED) a few months ago about possible money laundering and know-your-customer (KYC) violations at Paytm, and the fintech services provider may lose its payments bank licence, given infringements flagged by the banking regulator over the past few years, people familiar with the matter told ET.Additionally, the home ministry had alerted the Prime Minister’s Office about security concerns related to fund flows into and out of the entity with links to…

Approvals to Elon Musk-owned Starlink for starting satcom services in India may get delayed with the communications ministry now seeking clarity from the Department for Promotion of Industry & Internal Trade (DPIIT) about mandatory ownership disclosure rules.DPIIT had in 2020 amended the foreign investment policy to make prior government approval mandatory for inflows from countries sharing a land border with India through Press Note 3, which also requires all foreign investors to share complete shareholding details…