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Bharat Fintech Summit highlights fintech industry’s challenges and opportunities
Entrackr
·
1y ago
Medial
The Bharat Fintech Summit 2024, organized by The Digital Fifth in Mumbai, saw the participation of 3,000 people from the Indian fintech ecosystem. Held between February 7 and February 8, the second edition of the summit hosted as many as 23 speaker sessions, five fireside chats, and 10 demonstrations. The panel discussions touched upon a wide range of relevant issues, including the dynamic fintech landscape in the country right from product-led innovations, much needed collaboration between banks and fintech players, cybersecurity and the need for increased regulatory compliances in payments and digital lending to improve banking experiences for customers and protect them from various frauds. Entrackr was present at the event and held conversations with several stakeholders of the fintech industry. It’s worth noting that the event comes at a time when the fintech industry is benefiting from the radical digital transformation of the banking industry and e-commerce growth around India and the globe. Banks and financial institutions are moving towards 100% digital for the retail and MSMEs segments in upcoming times and major innovations in the Indian BFSI industry have been propelled by the regulators and public infrastructure such as IndiaStack, Account Aggregator, and the ONDC. Enterprise fintechs are poised to expand, with projections estimating a market size of approximately $20 billion by 2030. The Digital Fifth cofounder and CEO Sameer Singh Jaini told Entrackr that the last decade witnessed a continuous influx of funds into enterprise fintechs. This, coupled with the entry of new-age players in various enterprise segments, is shedding light on the previously untapped potential of this market. “We organize the summit which are focused on content and depth and welcome here everybody from the entire Indian fintech ecosystem including the participation of 70 – 80 VC firms where they share fruitful insights, collaborate and intend to thrive their businesses amongst each other,” he added. Embedded Finance also was under the spotlight during the event as a general sentiment was to bring more focus on the need for more players to drive customer engagement in partnership with banks. During his keynote speech, RBI executive director P Vasudevan stressed the need for frictionless credit and highlighted it has the potential to become the next digital public infrastructure. “It’s a vibrant experience for me to attend such a summit and also marked presence in one the panel where we discussed tech led credit networks, leveraging multi-layered lending partnerships and cutting-edge tech for the future-ready financial sector. MSMEs lending landscape, challenges, innovation, collaboration and others. MSMEs sector has been the backbone of the Indian economy and the emergence of technology in this space is worth watching,” Alok Mittal, co-founder & MD at Indifi, told Entrackr. Indifi offers loans for small businesses which turned profitable last year and crossed Rs 1,500 crore AUM in March 2023. Perfios’ Chief Strategy Officer Ramgopal Subramani appreciated the summit saying such events are instrumental in facilitating knowledge exchange, fostering partnerships, and driving comprehensive sectoral growth. “At Perfios, we are happy to partner with events like BFS that serve as collaborative platforms across the BFSI sector to address challenges and explore innovative opportunities,” he said. “It’s always great to be associated with The Digital Fifth and the summit which can be a game changer for the entire fintech Indian ecosystem and curated this event for the last where a lot of collaborations took place,” said Vaibhav Tambe, co-founder, TransBank. TransBank is a SaaS-based platform where it takes a minimum guarantee for a particular number of services and charges per transaction basis. The summit also saw the attendance of spokespersons from different fintech startups like Trifecta, GetVantage, Zaggle, FinBox, Skydo, Bureau, Fixerra, and others.
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Entrepreneurs in fintech, AI get awards at Indo-European business forum
Economic Times
·
9m ago
Medial
The annual Indo-European business forum (IEBF) meet took place at the House of Lords complex in London, where high achievers facilitating cross-border partnerships between India and Europe were honored. The event, called the 'Viksit Bharat Investment Summit', focused on India's goal of becoming a developed economy by 2047 and showcasing business and investment opportunities. Among the awardees were entrepreneurs in fintech, AI-driven visual recognition, fund management, and promotion of Indo-UK business. The event coincided with the relaunch of Free Trade Agreement talks between the UK and India. Karnataka's labor minister also highlighted his state as a prime investment destination.
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Global Startup Summit 2024: Key Insights, Networking, and Opportunities Await - Business Byte
Business Bytes
·
11m ago
Medial
The Global Startup Summit 2024, co-powered by Dashback, is set to take place on 28th September. The event aims to bring together prominent investors and financiers for a 9-hour session focused on Startup & Investors Networking, PropTech, HealthTech, D2C, and SAAS. Specialized panels, including the Asia PropTech Forum, HealthTech Summit, Bharat Technology Conclave, and International D2C Conclave, will facilitate in-depth discussions. The summit also offers opportunities for startups to connect with investors, pitch ideas, and explore funding possibilities. The event is supported by key partners and features notable speakers. Tickets can be purchased through various platforms.
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India’s steel industry contemplates potential fallout from Trump administration tariffs
Livemint
·
5m ago
Medial
India's steel industry faces challenges and opportunities following the U.S. tariffs on steel imports. While cheaper steel benefits small manufacturers, it threatens domestic steel production and raises environmental concerns. With India’s steel production expected to grow amid rising demand, the reliance on coal-based methods risks increasing greenhouse gas emissions. Efforts to clean production and compete internationally are critical, especially with Europe imposing carbon taxes. Balancing growth and sustainability is crucial for the industry’s future.
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RBI took initiative to bridge communication gap with fintechs: Deputy governor
Economic Times
·
4m ago
Medial
The Reserve Bank of India (RBI) initiated dialogue with fintech startups to understand the ecosystem better, according to Deputy Governor T Rabi Sankar. Speaking at the Bharat Inclusion Summit, Sankar noted past communication gaps but highlighted increased interaction efforts by the RBI. This engagement aims to foster understanding of regulatory expectations and trust through responsible innovation. The RBI also supports establishing a self-regulatory organization (SRO) to bridge gaps between the fintech industry and the RBI amidst increased scrutiny.
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BHEL Q3 results: Net Loss rises to ₹162.7 crore, total expenses up by 9%
Livemint
·
1y ago
Medial
Bharat Heavy Electricals Limited (BHEL) has reported a net loss of ₹162.7 crore in Q3, with total expenses increasing by 9%. The loss highlights the challenges faced by the company in a competitive market.
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Fintech to remain key investment theme in MENA: Panellists at LP Summit Dubai 2024
VCCircle
·
10m ago
Medial
1. Fintech is expected to remain a key investment theme in the MENA region. 2. The sector has witnessed significant funding and will continue to grow in the coming years. 3. Digital transformation and improved regulatory frameworks are driving the growth of fintech in the region. 4. The VCCircle Limited Partners Summit in Dubai discussed the potential of fintech in MENA. 5. Industry executives highlighted the opportunities and future prospects in the fintech sector. 6. The event emphasized the role of fintech in driving innovation and financial inclusion in the region.
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From Resilience to Resurgence: ET Soonicorns Summit 2024 returns to Bengaluru with a sharper focus on startup reinvention
Economic Times
·
1y ago
Medial
The ET Soonicorns Summit 2024 is set to take place in Bengaluru on September 20th. The summit aims to address the challenges and opportunities facing Indian startups, particularly in light of the challenging funding landscape. The theme for this year's summit is "From Resilience to Resurgence," signaling a focus on sustained recovery and the transformative power of AI. The event features sector-focused thematic tracks, insights from unicorn and Soonicorn founders, and discussions on sustainable growth strategies and the new metrics defining unicorn success. The summit aims to foster innovation and empower ecosystem players within the Indian startup ecosystem.
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Blue Dart rebrands its service to ‘Bharat Dart’ amid India versus Bharat debate
Livemint
·
1y ago
Medial
Blue Dart, a logistics company in India, has rebranded itself as "Bharat Dart" in a move that aligns with the use of "Bharat" as an alternative name for India. The rebranding aims to redefine express logistics services in India, offering enhanced speed, coverage, and support for businesses. The change follows Prime Minister Narendra Modi's use of "Bharat" during the G20 summit, sparking speculation about a potential shift from "India" to "Bharat" as the official name.
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Why AI startups cost more, not less to build: Investor insights from ET Soonicorns Summit 2025
Economic Times
·
1d ago
Medial
At the ET Soonicorns Summit 2025, investors debunked the myth that AI startups are less costly and quicker to establish. Instead, these ventures demand higher capital but offer unique disruptive potential. The summit highlighted the economic realities of AI investment, emphasizing speed over scale and revealing challenges like talent shortages and high GPU costs. Ultimately, while AI transforms business models, execution gaps allow new entrants opportunities to innovate and compete against large incumbents.
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Will India stack enable a global fintech superpower?
Medial
·
1y ago
Medial
The article discusses India Stack, a digital infrastructure project that has laid the foundation for India's fintech revolution. It highlights the key components of India Stack, including Aadhar (digital identity), UPI (Unified Payments Interface), and OCEN (Open Credit Enablement Network), and how they have enabled the rapid growth of fintech startups in the country. The article also explores the challenges and opportunities that come with India Stack, as well as its potential to transform other sectors like healthcare and commerce. Overall, India Stack has positioned India as a global leader in digital finance and has the potential to make the country a fintech powerhouse.
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