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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.
As investors in MobiKwik’s P2P lending scheme cry foul over the handling of an RBI rule change, uncertainty looms over the fintech company’s lending business—its strongest growth driver.
Many users of a lending scheme offered by MobiKwik are rattled. The Gurugram-headquartered digital payments company, which earlier allowed “anytime withdrawals”, seems to have locked in their investments after the central bank changed a key rule. This has posed a number of challenges for these investors.
On 16 August, the Reserve Bank of India updated the regulation governing peer-to-peer (P2P) lending, effectively disallowing “anytime withdrawals”. Two months on, multiple investors we spoke with say the repayments on the MobiKwik platform are much less than what they were promised and that the company’s lending partner—Lendbox—is not complying with statutory requirements. …
Lenders stand to gain a lot more than borrowers in the current challenging market environment
A local fintech deal to consolidate operations, feedback on Saudi Arabia’s proposed IPO rules, and Ras Al Khaimah’s casino economy.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
