Author: nripn

4 minutes reading time Last updated: May 31, 2024 | 12:51 AM ISTThe Reserve Bank of India (RBI) on Thursday released the final framework for recognition of self-regulatory organisations in the financial technology sector (SRO-FT), encouraging entities to have a representative membership from the fintech sector. An SRO-FT may consist of members from fintechs currently regulated by the RBI, including non-banking financial companies-account aggregators (NBFC-AAs), NBFC-peer-to-peer (P2P) lending platforms, among others, excluding banks. The banking regulator said there could be more than one SRO-FT, and fintech firms would be encouraged to participate in at least one. “Given the dynamics of…

There is also a growing perception within the fintech sector of regulatory barriers hindering the sector’s growth. Some fintech companies have also come out in support by writing to the finance minister and the RBI governor after the central bank banned Paytm Payments Bank from accepting deposits. While the two self-regulatory organisations (SROs) – Digital Lenders Association of India (DLAI) and Fintech Association for Consumer Empowerment (FACE) – collectively representing around 120 fintech companies, do not have enforcement powers, they are of the view that the draft guidelines released by the RBI on January 15 could help them enforce the…

Singapore, 8 May 2024… The United Kingdom and Singapore held the 9th UK-Singapore Financial Dialogue in Singapore today. The two countries discussed opportunities for collaboration in priority areas such as sustainable finance, FinTech and innovation, and exchanged views on recent developments in non-bank financial intermediation (NBFI) and efforts to improve cross-border payments connectivity. Sustainable finance2. The UK and Singapore have reaffirmed their commitment to increasing funding for the net zero emissions agenda. A. Evolution of transition planning: The UK and Singapore reaffirmed that globally comparable and robust transition plans are essential for scaling transition finance. The UK provided an update…

Increased regulation in the Indian Fintech Sector This will significantly benefit the industry by keeping out bad actors and strengthening the competitive advantage of those who play by the rules, it said. Nigel Morrismanaging partner, QED Investors.In an exclusive interview to ET, he said that the recent crackdown by the Indian central bank on various segments of the new generation financial services It was a step in the right direction and it did not deter investors with deep operational experience, like his firm, from betting on Indian fintechs.QED investors’ portfolio companies such as A map And Jupiter were impacted by…

A draft decree on a regulatory sandbox for fintech has been submitted to the government, which will provide a framework for fintech solutions including credit scoring, open application programming interface (API) and P2P lending. — Photo tapchitaichinh.vnHÀ NỘI — The State Bank of Vietnam has submitted to the government a draft decree on a regulatory sandbox for fintech in which pilot implementation will be carried out for only three solutions, credit scoring, open application programming interface (API) and P2P lending.After seven versions of the project that have been developed since 2023, the latest version reduced the number of fintech solutions…

Egyptian Fintech Startup Connect Money Secures $8 Million in Seed FundingConnect Money, an Egyptian fintech startup, recently secured $8 million in seed funding. The company plans to launch new business lines using the funding….June 28, 2024

4 minutes reading time Last updated: July 17, 2024 | 11:20 p.m. IST The fintech industry, which has been caught between increased scrutiny from the Reserve Bank of India (RBI) and a harsh funding winter, is looking ahead to Budget 2025 with hope. The industry is looking for a favorable tax framework for startups, as well as exemptions and incentives to reduce their capital costs. Stakeholders Business Standard spoke to said they expected better clarity on guidelines from regulators like the RBI, Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority of India (Irdai), among others.…

Last year, the world of fintech startups — star of the heyday of venture capital in 2021 — began to collapse as venture capital funding became more limited. As we approach mid-2024, large swaths of the industry are now in a complete mess, particularly the banking-as-a-service (BaaS) sector, which ironically, Last year, experts told us that was the positive. The bankruptcy of fintech BaaS Synapse is perhaps the most dramatic event of the moment. While it is certainly not the only bad news, it shows how perilous things can be for the often interdependent fintech world when a key player…

The Council of the European Union has adopted a new regulation that will make instant payments fully available in euros for consumers and businesses in all EU and EEA countries.The new regulation was introduced to improve the strategic autonomy of European economic and financial sectors, reducing what the EU calls “excessive reliance” on third-country financial institutions and infrastructures. This would include institutions such as Visa And MasterCardAmerican companies that dominate the world of payment processing. Regulating instant payments: benefits for EuropeansIndeed, this far-reaching regulation will also help to promote faster and more efficient cash flows, thus bringing greater benefits to…

Welcome to Fintech TechCrunch! This week, we look at Stripe’s big product announcements, a Brazilian fintech startup’s valuation boost, and more! To receive a roundup of TechCrunch’s biggest and most important fintech stories in your inbox every Sunday at 7 a.m. PT, subscribe here. The big story Band announced that it would be decoupling of payments of the rest of its financial services lineup. This is a significant change, given that in the past, even as Stripe expanded its list of services, it required businesses to be payment customers in order to use any of the others. Alongside this, the…