Fintechs to ping ministry and RBI, but new rule has govt’s support

In a one-page circular, issued on Monday, RBI had directed all non-bank pre-paid payment instruments (PPIs) to stop loading credit lines onto their products.

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Private equity fund Oaks Asset Management raises Rs 1,000 crore in funding

The final close of the new fund is expected by the end of next month. Last year, OAKS Asset Management had launched its second private equity fund to invest in consumer startups and mid-size companies in India.

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Card-based fintech in dire straits with PPI lending ban

Some partner banks of these card-based fintech firms may also stop supporting their bank PPIs to these platforms after seeking a clarification from the RBI, the people said.

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'Enough space in private network business for telcos, tech to co-exist'

“I don’t expect to see circle-level 5G deployment right away. There is space for both telcos and non-telcos on the table because at the end of the day both are deploying a new technology and will need to collaborate with different technology vendors for it,” said telecom expert Mahesh Uppal.

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RBI stance on fintech has government backing

Government officials told ET that the RBI order, published late Monday, came after commercial lenders had raised concerns with the banking regulator over likely rule breaches by fintech companies.

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Cashify raises $90 million in funding led by NewQuest, Prosus

Cashify will use the funds to double down on marketing, open more refurbishment facilities, and expand offline stores.

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RBI circular leaves fintech firms dazed and confused

The banking regulator believes that fintechs, unlike traditional lenders, lack sufficient capital and credit underwriting capabilities, said a person familiar with the matter.

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