Data from AI-led recovery firm shows a rise in both digital credit and larger-ticket secured loans during India’s peak spending months India’s festive season has triggered a sharp increase in borrowing activity, with digital lending volumes rising 16.55 per cent from 2.9 million loans in non-festive months to 3.4 million during the festive period, according […]
Indian economy showed a strong performance in the previous quarter with a growth of 8.4 per cent. However, while citing government sources, Tracxn in its latest report has said that this number is expected to decline to 5.9 per cent in Q1FY2024. According to the International Monetary Fund (IMF) report, India is expected to become […]
The financial industry supported this move and said it is a progressive step to boost the adoption of interoperable cash deposits Launched in 2016, India’s UPI payment has become an essential part of every individual, especially for retail digital payments in India, and its adoption has noticed rapid growth. Keeping its huge progress in mind, […]
Payments through digital means in India are hitting fresh highs, as its citizens are increasingly adopting the emerging modes of transacting on the internet. In February, transactions worth Rs 18.2 lakh crore were made through Unified Payments Interface (UPI) with a staggering 122 crore number of transactions. The transactions made last month through the popular […]
The RBI has restricted Paytm Payment Banks from taking any further deposits or credit transactions which results in 55 per cent loss to the Paytm stocks One of the first unicorns of the Indian startup ecosystem, Paytm, which operates under the umbrella brand One97 Communication, was hit by an unexpected whip from the country’s central […]
Zomato has obtained a licence from the Reserve Bank of India (RBI) for its subsidiary, Zomato Payments, allowing the company to function as an online payment aggregator. This milestone positions Zomato alongside industry leaders like Tata Pay and Razorpay, expanding its role in the burgeoning digital payment landscape. Zomato Payments was established to conduct business […]
A report on Friday revealed that 85 per cent of Indian businesses use external cloud providers for analytics, marking the nation’s lead in cloud, artificial intelligence (AI) and machine learning (ML) adoption that outpaced other countries like Germany (66 per cent), New Zealand (70 per cent), and Spain (58 per cent). Solidifying its excellence India […]
A report on Tuesday unveiled the immense potential of India’s ConsumerTech industry which is expected to surge in the total addressable market, reaching approximately USD 300 billion by 2027, with a compound annual growth rate (CAGR) of around 25 per cent. The driving forces behind this explosive growth are attributed to digital public infrastructure and […]
The fintech platform PhonePe is likely to launch consumer lending on its platform by January 2024, according to a report from a leading media house. The Walmart-backed platform is expected to operate as a distributor for personal loans. The fintech is in the final stages of integration with five lenders from banks and non-banking financial […]
India’s exports to Nordic regions have increased significantly in recent years, said Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, while addressing the second CII India Nordic-Baltic Business Conclave 2023 here on Wednesday. The Union Minister pointed out that India’s exports to the Nordic region have grown […]
