Author: Bfsinxt Desk

YogiSadana, Founder and CEO, Zype, expressed that, “Our next phase of growth aims to increase our reach and user acquisition while expanding our loan book size to 500 Crores in the coming four quarters. We are committed to making credit more accessible to millennials and helping them develop sustainable financial habits.”

Manipal Academy of BFSI recently partnered with Jana Small Finance Bank to launch the ‘Aspiring Bankers Program’, aimed to hire and train the next generation of Personal Bankers for Jana Small Finance Bank, The program, offered by the Manipal Academy of BFSI is aimed at identifying talent and providing intensive on-the-job training. It aims to create a robust talent pipeline for Jana Small Finance Bank, serving the diverse communities of Karnataka and Tamil Nadu. Amit Raj Bakshi, Chief Human Resource Officer, of Jana Small Finance Bank comments, “As we launch the ‘Aspiring Bankers Program’ in collaboration with Manipal Academy of BFSI, we…

RBI recently announced products tested under regulatory sandbox in MSME lending category. Five products of SIDBI, FinAGG, SysArc, Rupifi, & MyInd have been selected.

The Board of Directors of AU Small Finance Bank in its meeting held on 29th October has approved the merger of Fincare small Finance Bank with AU Small Finance Bank. The bank informed the exchanges on Sunday late evening.

On October 20, 2023, Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India (RBI), inaugurated the Sub-office of the Reserve Bank in Itanagar, Arunachal Pradesh. The Sub-office in Itanagar begins functioning with the following departments / cells: Financial Inclusion and Development Department (FIDD), Human Resource Management Department (HRMD), Consumer Education and Protection Cell (CEPC) and Market Intelligence Cell (MIC). The currency management for the state of Arunachal Pradesh will continue to be conducted by the Bank’s Guwahati Office. The central bank said in the statement, with the opening of this office, the Reserve Bank now has presence in all the…

Bridging the gap between insurers and intermediaries, Alwrite offers an all-in-one quote procurement and placement, underwriting and user management, along with knowledge and risk management solutions to ease the process and increase insurance penetration.

Cashfree Payments, India’s leading payments and API banking company, has partnered with Global Trade Plaza, a global B2B Marketplace, to provide Indian exporters cross-border payments experience. In this partnership, ‘Global Collections’ solution by Cashfree Payments will enable Indian exporters to collect payments in over 15 foreign currencies. Subsequently, the received funds will be  converted into INR and settled into their local Indian bank accounts within 48 hours. Further, exporters will also be able to get the auto-generated foreign inward remittances advice (e-FIRA). Reeju Datta, Co-Founder, Cashfree Payments, said, “We are excited to partner with Global Trade Plaza to offer a…

The five-month intense program includes mentorship from domain experts on Risk, Operations, Governance, and Technology. It is structured to encourage and facilitate peer learning, reviews and networking through a blend of in-person, virtual and individualized sessions. 

Jiraaf  has raised $8.7mn in equity as part of Series B funding round. The round was co-led by Accel and Harmony Partners. It also saw participation from Capital A & other angel investors. Founded in September 2021 by Saurav Ghosh and Vineet Agrawal, Jiraaf curates and offers fixed income investment opportunities through a customer friendly digital platform. Jiraaf said in a statement that it has established itself as a market leader with more than 125,000 registered users. It has originated over INR 2,300 crores worth of investments till date and successfully repaid INR 1,500 crores of capital back to customers with zero…

India Post Payments Bank (IPPB) and the Small Industries Development Bank of India (SIDBI) recently entered into a strategic partnership to promote extension of formal financial services and other support services to MSMEs, especially enterprises in rural and remote areas of the country. The partnership aims to leverage IPPB’s rural reach and deep connect with village level communities and SIDBI’s lending and credit risk assessment models in reaching to informal and micro enterprises in rural and remote areas as may be permitted under the extant regulations. IPPB shall also support SIDBI’s customers in digitising the payment mechanisms through its merchant…