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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 Bengaluru-based brokerage wants to hold customer funds to build a faster payment system, but the central bank is wary of reopening what it sees as a failed experiment.
Zerodha has sought a payments bank licence from the Reserve Bank of India, according to three executives aware of the matter. The Bengaluru-based stockbroker, in recent weeks, has held discussions with central bank officials to convince the regulator of their suitability to own and operate a payments bank, the executives say, requesting anonymity as these talks are private.
However, as things stand, it is unlikely that the central bank would grant it a licence, two of the three executives add.
In theory, a payments bank would help it hold its customer’s funds, enabling two things: first, less dependency on banks …
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.
India’s second-largest brokerage by active clients wants to handle IPOs as a merchant banker. But gaining a foothold in the highly competitive sector is easier said than done.
