Finance Outlook India’s Post

Jatinder HANDOO, CEO of the Digital Lenders Association of India (DLAI), has highlighted the importance of a Self-Regulatory Organisation for Fintechs (SRO-FT), as proposed by the Reserve Bank of India (RBI) as a means of standardization and differentiation between serious players and others in the industry. According to Jatinder HANDOO the Indian fintech industry's diversity results in differing priorities and representations among stakeholders. This discussion arises in the context of the RBI's actions, such as the recent decision to prohibit Paytm Payments Bank , from accepting additional deposits and the closure of its wallet, nodal, and other accounts, which have led to some fintech players asserting that the RBI is stifling innovation by emphasizing compliance. From my perspective, The regulatory framework plays a significant role in shaping the future of fintech startups in India. While there's certainly diversity in the fintech landscape, common regulatory themes include consumer protection, data privacy, and interoperability among different platforms. However, the regulatory landscape for fintech is still evolving, and there's a need for clear and comprehensive guidelines to support the growth of these startups. Regulations that balance innovation with consumer protection can foster a healthy and competitive fintech ecosystem. #fintech #fintechsolutions #finance #fintechstartup #fintechrevolution #rbi #rbipolicy #regulatory #innovation

Perfios, born amid the 2008 financial turmoil, has evolved into a fintech force. Growing at 100% YoY, the company’s global mission, "Made in India for the World," addresses universal financial challenges, showcasing India's innovation. Watch the vodcast to know more #ETInsights #Fintech #Growth #Innovation #MadeInIndia #India #Challenges Sabyasachi Goswami Ashwani Mishra

Is it safe to invest your money through a Fintech platform? Fintech is a blend of the words "financial" and "technology." It is the use of new technological developments to financial sector products and services. Fintech offers practically limitless number of uses, ranging from mobile banking to insurance to investment apps. In its simplest form, Fintech deconstructs financial services into distinct solutions that are frequently easier for consumers to utilise. So, when we use these Fintech services or platforms, particularly for the investments that we make through these mobile investing applications, the first question that comes to our minds is, "Will I lose my investments if the Fintech platform goes bust?" The short answer to this question is "No". The mechanisms are set up in such a way that any money deducted from your account gets straight to the mutual fund company or the financial institution that provides you the financial product. As a result, the money is not in the hands of the Fintech platform. Consider investing in mutual funds. Even if a Fintech firm goes out of business, you will still be able to gain access to all of your information through your mutual fund house since you are ultimately their customer, and it is their obligation to provide service to you. Although you will not have the ease of use of a Fintech, you can get along just fine without them as well, and your money is completely secure. The same story goes for individual stock investments through these Fintech platforms as well. Even if you invest using these Fintech applications, you must have a demat account to purchase or sell equities. You cannot keep shares without a Demat account. Any stockbroker, including banks and other financial institutions, is able to open a Demat account, but those institutions must be enrolled as a Depository Participant with one or both of the two central depositories, National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). Furthermore, the Securities and Exchange Board of India (SEBI) oversees the shares held in both depository sites. As a result, the odds of a fraud occurring are extremely low, and the stocks housed in these demat accounts are completely safe, even if the Fintech platforms fail. #fintech #fintechs #fintechsolutions #fintechfuture #fintechfinance #fintechindia #sebi #nsdl #cdsl #investments

🟡 The fintech sector in India is rapidly transforming lives, projected to reach $2.1 trillion by 2030. In this article we explore the key fintech sectors and outline how legislation like the DPDP Act is looking to regulate the market without stifling innovation. 👉 https://lnkd.in/dFbCPVD5 #Fintech #DataProtection #IndianBanking #FinanceLaw #AarnaLaw Manjushree Somasundara

🚨 #Unwrapped | A week of hits and misses in fintech It’s been a busy news week in the fintech space. Markets regulator Sebi reduced the minimum investment amount for privately traded debt securities, slashing it by 90%. On Tuesday, Sebi allowed companies to issue NCDs at a face value of Rs 10,000.  This opened up a fresh opportunity for the likes of Grip Invest and Wint Wealth . While wealthtech startups had something to rejoice, gold loan fintechs had a tough week. Paytm Payments Bank , the associate entity of Paytm, also seems to be staring at a bleak future. But it’s not all doom and gloom in the fintech world. Both Peak XV Partners-backed unicorn Groww and France’s Worldline ePayments received payment aggregator licences. Pratik Bhakta sums up the week in today's #Unwrapped

🎉 Exciting news in the fintech space! 🚀 Bengaluru-based neobank Fi has secured a non-banking financial company (NBFC) licence from the Reserve Bank of India (RBI), marking a significant milestone in its journey. Fi's CEO Sujith Narayanan expressed his excitement, highlighting the newfound opportunities this licence brings, including direct integrations and the ability to explore lending initiatives independently. Founded in 2019, Fi offers a comprehensive money management app, competing directly with other fintech startups in India. With a recent Series C funding round of $45 Mn and now an NBFC licence, Fi is well-positioned to expand its offerings and serve customers more effectively. This development underscores the growing importance of digital lending in India's fintech landscape. As fintech startups increasingly seek NBFC licences, the RBI's approval signals a promising future for innovative financial solutions in the country. Congratulations to Fi on this significant achievement! 🌟 #FintechInnovation #DigitalLending #NBFClicence

DLAI Conclave 2024 Concludes with Exciting Exchange of Ideas and Insights Among India's Fintech Leaders LINK: https://lnkd.in/eVXtSu7Z Hashtags: #BankingAndFinanceNews #Finance #Technology #FinTech Please LIKE & REPOST

DLAI Conclave 2024 Concludes with Exciting Exchange of Ideas and Insights Among India's Fintech Leaders LINK: https://lnkd.in/e7wqzhYq Hashtags: #BankingAndFinanceNews #Finance #Technology #FinTech Please LIKE & REPOST

Featured in Entrepreneur India: Our Co-founder and COO Anant Deshpande celebrates the significant milestone of UPI transactions exceeding 100 billion in 2023. In this article, Anant highlights UPI's revolutionary impact on credit assessments and its transformative role in India's financial sector. Read it here: https://lnkd.in/g9yXyCKx #DigitalPayments #FinancialInnovation #UPIRevolution #Fintech #DigitalLending #Innovation #FintechInsights #DigitalLendingRevolution

Reserve Bank of India (RBI) has just released a draft framework for self-regulatory organizations (SROs) in the #fintech sector. This move is set to empower innovation and ensure responsible growth, even in areas not yet covered by formal regulations. The proposed SROs will play a pivotal role in fostering a culture of compliance and capacity building among fintech players. With the potential for multiple SROs, the RBI is encouraging a broad representation from various fintech domains, including payments and lending. This initiative marks a significant step towards sustainable development within the fintech ecosystem, providing startups with the guidance needed to thrive in a regulated environment. #Fintech #Innovation #Regulation #RBI #sro The Economic Times