In being highly selective about granting payment aggregator permits, the central bank signals that it will settle for nothing less than an impeccable track record.
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With its rivals present in just about 50 cities each, Swiggy Instamart could be looking at a first-mover advantage—or a dud.
The Kunal Shah-helmed fintech needs both growth and profitability to raise capital. But the two goals are contradictory and CRED will soon have to decide between raising at a reduced valuation or delaying the fundraise.
Vijay Shekhar Sharma has focused on improving compliance, cutting costs and recovering market share after the RBI shut down his payments bank last year. The fintech major is yet to recover to its earlier highs, but its turnaround is gathering momentum.