FinTech | Page 7

The central bank also introduced a new initiative DAKSH, the bank's advanced supervisory monitoring system, which is expected to make the supervisory processes more robust

As per reports, Citi is hiring around 5000 people every year for its service centre in India, including sophisticated artificial intelligence and machine learning jobs

The fund raised will allow the company to invest in engineering talent, accelerate product development and advance its go-to-market initiatives

The fintech company is now wholly owned by and consolidated under PhonePe Pvt Ltd India

The fund raised will help Savart double down on its marketing efforts, ramp up the product suite expansion and expand its global reach on its diverse network

Shaktikanta Das also said that the need of the hour is to ensure assurance of safety after following a process of green-lighting and due diligence by the regulated entities

The Prime Minister also said that the fintech domain in India has earned goodwill by being an enabler of inclusion, and there is a need for continued focus to empower the poorest of the poor by taking quality financial services to them

The ministry has also asked the banks to increase their share of credit to the industry and informed that government would survey banks and rate them in terms of their customer service

The funds raised will be utilized towards marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams

The fund raised will enable Finnovate to scale its technology-led wealth management platform and Finnversity, a financial literacy platform to help many Indian Families achieve complete financial well-being

As per reports, this move shows that the market regulator wants to understand the credibility of the valuation exercise undertaken by funds

Deputy governor of RBI said that RBI mainly focuses to scale the digital infrastructure while preserving the technical stability

Tutelar builds products for real-time KYC and transaction fraud detection and risk management at every level of the payments value chain

The fund raised will be utilized to scale up hiring across senior management in technology, product, marketing, business, category management and HR functions, with plans to double the headcount in the coming 6 to 12 months

The fund raised will be used to embark on an organic growth trajectory by making key investments in current business offerings, expanding its geographical footprint to tier II and III cities and strengthening its lending portfolio

The Board also announced the retirement of independent director, Mark Schwartz, upon the completion of his service tenure

The reports said that government is likely to treat the unified payments interface (UPI) as public good in which customers do not required paying

The big tech firm also said that crackdown was based on leads and inputs received, violation of policy, lack of disclosures and misinformation

As per the RBI norms, American Express have been required to store Indian payment data locally since October 2018

The fintech platform plans to utilize the fund for accelerating the acquisition of new customers, building the product platform to provide customized solutions, ad expanding the sales ad technology teams

The first fundraise will be used to launch 'Growth-as-a-service' solution, a new AI and predictive analytics engine across Southeast Asia and India