Author: editor
The funds raised through this issue will be utilised primarily for lending activities of the Company, Muthoot Finance said.
India’s largest small finance bank, AU Small Finance Bank launched two new products for the affluent customers, AU Royale – ‘AU Royale Salary’ and ‘AU Royale Business’ Current Account. The bank said the affluent segment in India is consistently growing, citing the Hurun India Wealth Report 2021 estimates, Indian millionaire (USD) households are set to rise by 30 percent over the next five years. The bank said as this segment experiences a steady growth its expectations from banking are ever evolving. Earlier the bank had launched its Royale programme designed specifically to cater to the everyday banking requirements of this…
Whether there is a street vendor or a first- time entrepreneur or an old business needing revamp or a multi- national company, there is a customised solution for everybody. Fintech is the real hero here, and here to stay for a long time, making lives easier, every day.
The central bank said while UPI would be used for customer authorisation in such transactions, settlement would be through the National Financial Switch (NFS)/ATM Networks.
The partnership will initially focus on making export finance readily available for small and mid-sized exporters and it will address the clear need for products which offer straightforward and fast access to capital.
The Reserve Bank of India’s Governor, Shaktikanta Das today on May 17 and 18 held meeting with select MD & CEOs of Private and Public Sector Banks. In the introductory remarks, Governor noted the key role played by the banks in supporting the economy throughout the pandemic and stated that the banking sector has remained resilient and has continued to improve despite facing various headwinds. Governor Das advised banks to remain watchful of the recent geo-political developments and take mitigating measures proactively including raising of capital for ensuring that the potential impact on their balance sheets are minimised. The Governor…
Six of the eleven applicants were not found suitable by RBI for granting of in-principle approval to set up banks.
Kotak Group marked the launch of Kotak Private with Live Your Purpose – its new brand theme that enables clients to take their minds off their money, and pursue their deeper calling in life.
The RBI today announced the appointment of Sitikantha Pattanaik and Rajiv Ranjan as its new Executive Directors. Both have an experience of more than three decades in economics field and have been associated with the central bank earlier.
Volopay, a Y combinator backed corporate cards and payable management company has partnered with Visa’s Fintech Fast Track Program. The program was founded by Visa in order to support innovative financial services and solutions. It will allow Volopay to start issuing their own Visa cards to their clients businesses in the APAC region. Rajith Shaji, CEO and Co-founder of Volopay, said, “The partnership with Visa’s Fintech Fast Track Program gives us an edge that we haven’t had before. The ability to issue our own cards sets us apart from other fintech providers who are merely distributing cards. This way, we…