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The company said it aims to resolve issues around opacity in exchange rates, exorbitant forex margins, and documentation challenges for different sectors, including the study-abroad sector, as well as trade and finance for small and medium enterprises.
India is the most interesting place after Silicon Valley and it is an exciting time for India’s startup ecosystem, Kumar said.
The startup ecosystem has not only witnessed a funding winter over the past year, it also saw many known startup failures and regulatory challenges. A recent report by 1 Lattice (Prev PGA labs) indicated that there has been a significant slowdown in the volume and value of funds raised by Indian startups. Here’s what it …
Indian startups raised $3.1 bln across 243 deals in Q3 CY23, signals a slowdown: Report Read More »
The central bank has recently granted in-principle authorisation to a total of 37 existing payment aggregators and 23 new ones.
The company said the growth was primarily driven by market expansion, leadership in the digital payments market, and the launch and scale-up of products and businesses.
One major hurdle appears to be a lack of awareness among users as many seem to be confusing CBDC with the Unified Payments Interface (UPI), which has hindered adoption.
While there has been a funding winter in startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTechs across the globe raised about USD 2.56 billion in September, while the top 20 deals summed up to about USD 1.8 billion.
The government-promoted AI app has collaborated with NPCI to allow a range of tasks, including checking bank account balances, processing electricity payments, recharging Fastags, managing mobile and landline payments, handling gas payments, settling challan payments through voice commands in Indian languages.
The Hurun India rich list of 2023 includes 84 startup founders with a total wealth of Rs 4,23,600 crore. The average age of these founders is 41, and they represent the impact of the startup revolution in India. Radha Vembu of Zoho and Nikhil Kamath of Zerodha are among the prominent founders on the list. …
84 startup founders make it to Hurun India rich list, youngest is 20-years-old Read More »
Prime Minister Narendra Modi on Saturday announced that the governments of both India and Sri Lanka are working together on fintech sector connectivity by linking Unified Payments Interface (UPI) and Lanka Pay.
