/
•
•
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 approval is contingent on the fintech and the ailing lender fulfilling a number of conditions stipulated by it for the deal to pass muster.
Last week, fintech startup Slice and North East Small Finance Bank announced that the Reserve Bank of India has issued them a “no-objection certificate” for a merger. If all goes to plan, Bengaluru-based Slice will soon become only the second fintech startup after BharatPe to own a bank, discounting Paytm’s ownership of a payments bank.
The proposed merger has understandably raised a few eyebrows. Typically, the checks enforced by the RBI on new entities applying for banking licences are stringent and the central bank has, in the past, stated its aversion for technology-centred businesses entering the banking industry. Given these …
The Delhi-based group lender has been struggling with mounting losses, driven by the shifting priorities of borrowers and the growing pressure on field staff to meet targets.
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
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.
