Fintech News Bytes

Explains how they mishandled the Scapia portfolio and their beyond exceptional KYC norms for accounts on Jupiter. They’ve gone for more than they can actually offer and the change in risk weightage last December must have hit their business.

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Many small banks have a tie-up with SBI Cards for the credit card business. It’s not viable and they can’t really compete.

Central Bank of India was the first to issue a credit card in India and now even they offer cards from SBI Cards.

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"Something analogous is happening in the world of non-banking financial services. In less than five weeks, RBI shut down Paytm Payments Bank, served Visa a cease-and-desist order with regard to card-based vendor payments and P2P transactions, prohibited IIFL Finance from sanctioning new gold loans, and debarred JM Financial from providing finance against shares and debentures, and for new IPOs.

Had this been all, one could have excused this as a specific set of actions against a small number of significant players. But the central bank has subsequently also carried out a plethora of audits targeting fintechs that disburse small-ticket personal loans. The stated reason: exuberant unsecured loan growth."

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NPCI has announced new features coming to the UPI platform

• EMI Facility on UPI
• Limit Management
• UPI AutoPay for Credit Card Bill Payments

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Wow…Great News… :rocket: :cool_doge:
Looks like EMI options and limit upgrades will soon be available on the Jupiter CSB EDGE Rupay Credit Card as well. :v:t2:

Sharing the UPI Trend/Growth over the past 5 years :rocket:


Source: NPCI Twitter/X Page

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Next Big Move…After the introduction of UPI for Cash Withdrawal: it’s time for Cash Deposit :rocket: :rocket:

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Revolut in India :fire: Exclusive: Revolut India gets PPI license from RBI, to launch app soon, ET BFSI

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