FinTech | Page 7

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

The fund raised will be used to further innovate the SaaS based digital insurance platform, expand the product and sales team to other geographies and invest in out of box legacy integrations

The fund raised will be allocated for technology development and the growth of the loan book

The shareholders are also likely to vote on the adoption of financial statements, appointment of Madhur Deora as whole-time director for five years and there will also be resolutions to approve contributions to charitable trusts and other funds of up to INR 10 crore

The new guidelines will be applicable to all the financial institutions that extend digital loans

The debt funding is intended to support the rapid growth of the business

The fund will be utilized to accelerate product innovation and sales, and further grow the Jodo team