As is typical of many new age startups, one more notice for violations. The Enforcement Directorate (ED) has issued a show-cause notice to the parent company and two subsidiary companies of Paytm for allegedly violating provisions of the Foreign Exchange Management Act (FEMA). Notice is to the parent One 97 Communication limited (OCL), it’s managing … Read more
Angel One Appoints Ambarish Kenghe (AK) as Group Chief Executive Officer AK is currently Vice President and General Manager at Google Pay APAC. He was instrumental in scaling Google Pay’s in India. He also had a key role in the launch of Chromecast and Google TV’s development. Before Google, AK had served as Chief Product … Read more
The Centre has circulated a draft legislation to ban lending by unregulated entities, including by platforms, with violators facing imprisonment of up to seven years. Lenders, who harass and use unlawful means for recovery, face up to 10 years in jail, with those promoting such lending facing a term of up to five years. The … Read more
The Reserve Bank of India (RBI) may grant non-banking financial companies (NBFCs) access to the public tech platform for frictionless credit (PTPFC). Earlier this week, RBI Governor Shaktikanta Das announced that the PTPFC would be rebranded as the Unified Lending Interface. He compared its potential impact on lending to the transformation brought by the Unified … Read more
Prime Minister Narendra Modi on Friday during the keynote speech at a special session of Global Fintech Fest 2024 held in Mumbai said that there is festivity in economy and markets. PM further said that the fintech revolution is everywhere. He said there was a time when people used to get amazed by our cultural … Read more