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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
BNPL startups have Indians taking loans for cab rides and dinner parties. With the spotlight now on questionable practices, the RBI is calling them in.
Around 10 officials from the Reserve Bank of India, seated around a boardroom table at the central bank’s Mumbai headquarters, looked on intently as the founder of a five-year old startup made his presentation.
His firm is a licensed non-banking financial company, or NBFC in Indian banking parlance, with a modest loan book of about Rs 200 crore. More importantly, it’s also a fintech startup with a buy-now-pay-later app that has disbursed loans worth Rs 2,000 crore over the past six months, in partnership with a number of other NBFCs.
And the reason this founder had been summoned by the …
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The loan aggregator keeps sending updates on WhatsApp even to users who haven’t applied for a loan. The company is exploiting a grey area in India’s telecom regulatory framework and WhatsApp’s policies.
The most valuable Mideast fintech is expanding beyond buy-now, pay-later into financial services across Saudi Arabia and the UAE.
