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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 has serious concerns about how peer-to-peer lending companies are marketing themselves and partnering with fintechs—and regulatory action is imminent.
R, the CEO of a peer-to-peer non-banking financial company, was called in a few months ago by the Reserve Bank of India to answer some questions regarding the functioning of his platform.
His company claims to have facilitated the disbursement of loans to the tune of Rs 500 crore in the last two years and has partnerships with several well-known fintech apps for sourcing both investors and borrowers.
The primary objective of the meeting, says R, was for central bank officials to understand the technology. “They also wanted to know how we were collecting and disbursing funds on the marketplace. …
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
Billionaire Mohamed Alabbar goes for the Indian Ocean archipelago, India’s PhonePe gets UAE approval, and other updates from the week.
