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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.
The central bank’s rejection of the decade-old company’s application for a payment aggregator licence triggers a pivot and chaos.
Mastercard-backed Instamojo has quietly shut down its payments business. Towards the end of September, the decade-old startup’s application to operate as a licensed payments aggregator was rejected by the Reserve Bank of India on the ground that the company did not fulfil the eligibility criteria set by the central bank and hence, it has now moved away from payments.
Aakash Gehani, co-founder and chief operating officer at Instamojo, confirmed to The Morning Context that the company had taken the step. “Towards the end of September our application got returned by the RBI and it stated that we have to cease …
The instant house help business has become the centre of focus and investment at the home services company. But another fight may be brewing in its core business.
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
