Author: Bfsinxt Desk
Hemant Gala, Vice President of Financial Services said, “Promoting financial inclusion is at the core of PhonePe’s mission. We are excited to launch Merchant Lending on our platform using the Marketplace Model, providing SMEs & MSMEs with access to organized credit and enabling their growth. By serving as a catalyst for the financial empowerment of MSME & SMEs, PhonePe is proud to contribute to the overall development of the economy and drive sustainable progress.’’
The bank said that the all-new metal debit card from SBM Bank India offers cardholders an unmatched selection of specially curated travel programmes, lifestyle, and luxury benefits beyond the possibilities-available on the invitation to elite clients. Each card comes with the assured concierge network from Mastercard.
Under the MoU, SIDBI and HDFC Bank Limited would work together to provide complete financial product & services to the customers under Micro, Small and Medium Enterprises (MSME). The MoU will facilitate providing complete financial solutions to MSMEs in a seamless manner.
Rahul Chari, Co-Founder and CTO at PhonePe said, “The launch of the Account Aggregator service, puts PhonePe Group at the forefront of building digital public infrastructure that will have a significant impact on millions of Indians. This will also empower users to access and control their own financial data, revolutionizing the way they engage with financial services. The Account Aggregator Network sets the stage for a new era of digital connectivity, where individuals can harness the power of their own information to make informed financial decisions and unlock a world of opportunities.”
PolicyBoss will invest these funds in harnessing its technology prowess into becoming India’s foremost insurance specific B2B2C platform. PolicyBoss said it will also deepen its last-mile presence to shape the advisory-led distribution pan-India. Post this fund raise, the company boasts of a highly liquid balance sheet size of Rs. 140 Cr+
Shivashish Chatterjee, Co-Founder and Joint Managing Director of DMI Finance, said, “We firmly believe that India is leading the global digital revolution with the increasing adoption of smartphones and ubiquitous access to data. With millions of casual and dedicated participants across the country, Esports is both the competitive and spectator sporting activity of the future.”
Indian exporters face challenges with e-FIRS (Foreign Inward Remittance Statement) generation, which requires 2-3 weeks and multiple bank follow-ups. With this partnership, Cashfree Payments will provide e-FIRS to Tazapay merchants, complete with remitter & buyer details, for all their transactions within one business day.
Sriram Iyer – Chief Executive Officer, HDFC Pension said, “This is a very proud moment for us. We are delighted to have crossed this milestone of Rs. 50,000 cr. AUM and this validates our strong presence. This achievement becomes even more significant as we complete ten (10) years of business this year. This milestone is a reflection of the trust placed in our organization by our esteemed subscribers. We would like to thank our subscribers, Corporate partners, Points of Presence (POPs) and distributors for the confidence and trust they have shown in us and their support that has enabled the Company to grow over the years.”
AU Small Finance Bank has partnered with RuPay to introduce the business cashback RuPay credit card, an innovative solution tailored to meet the financial requirement of self-employed customers.
PhonePe, today announced that it has gone live with the UPI LITE feature on its app. The feature allows users to initiate low-value payments under Rs. 200, with a single tap from their UPI LITE account without entering a PIN.