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Author: Bfsinxt Desk
Amber Pabreja, CEO and co-founder of Trendlyne said: “We’re already a profitable company. We are raising funds to build our vision of making investing easier and more accessible for people not just in India, but also across the world.”
Narendra Ostawal, Managing Director, Warburg Pincus said, “We believe micro-enterprises in semi-urban and rural India are underserved by formal sources of credit and we believe Vistaar has the potential to fulfil that need gap and be a driver for broad-based growth on those regions and communities. Warburg Pincus has a deep history in partnering with exceptional teams, particularly within financial services and looks forward to a similarly exciting future at Vistaar.”
‘दक्ष (DAKSH)’ is a web-based end-to-end workflow application through which RBI shall monitor compliance requirements in a more focused manner with the objective of further improving the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc.
Sriram H. Iyer, Head – International Banking Group, ICICI Bank said, “With the launch of ‘Smart Wire’ facility, which is an industry-first initiative, we are offering our NRI and resident customers a unique combination of speed and an enriched experience of executing a cross-border transaction. We believe this new facility will help our customers to conveniently carry out quick and hassle-free money transfers.”
A study by Capgemini Research Institute titled as ‘World Payments Report 22’, finds that new payment methods are expected to increase from around 17 percent of total non-cash transaction in 2021 to around 24 percent by 2026. While B2C payments have flourished, the B2B value chain has too often been neglected. It added, “The payments industry has remained resilient through recent unprecedented market volatility, accelerated by the adoption of innovative new digital payment methods for consumers. However, many banks are failing to provide the same support for small to medium businesses.” According to the report, despite promising post-pandemic recovery levels,…
U GRO Capital recently announced it has raised USD 5 million through an ECB (external commercial borrowings) transaction with the EMF Microfinance Fund AgmvK (EMF).
The regulator in a statement said, “To promote efficiency in the conduct of insurance business and provide for appropriate framework for electronic mode of solicitation and servicing of insurance policies, the current regulations on issuance of e-Insurance policies have been reviewed.”
The wider reach of the Bank will help both Union Bank of India and Hyundai to extend the best offering to the buyers of Hyundai Equipment across the country and to increase the Bank’s portfolio under Equipment Finance
Simpl on September 27 announced a tie-up with CCAvenue for a seamless checkout experience for enabling frictionless checkout and pay later facility on CCAvenue’s payment stacks. Simpl-CCAvenue partnership increases seamless transactions and unbundles merchant discovery for millions of customers on the platform, it added. “Merchants love Simpl because we allow unbundling of product discovery. Product discovery takes on new significance as Indian consumers throng e-commerce sites seeking speed and convenience at checkout. Seamless checkout elevates customer’s shopping experience while significantly reducing cart abandonments, decreasing dependence on cash on delivery and removing inefficiencies for retailers,” Nitya Sharma, CEO & Co-Founder, Simpl, said…
Leading brokerage firm, ICICIdirect has introduced Flash Trade for F&O traders, The firm said keeping the interest of traders and trading community in mind, it has launched a unique proposition in the form of Flash Trade, a risk contained and visually rich Futures & Options (F&O) trading module. ‘Flash Trade’, is one of its kind tool offering a safer ecosystem for trading options that helps traders visualize their entire trade on charts in a simplified manner, and allows them to trade in a single click with its ‘Up’ and ‘Down’ action buttons. Traders can set time-based exit rules so that…