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News on Medial
Harshvardhan Lunia appointed chair, Jitendra Gupta co-chair of fintech convergence council
Inc42
·
1y ago
Medial
Harshvardhan Lunia has been appointed as the new Chairman and Jitendra Gupta as the Co-Chair of the Fintech Convergence Council (FCC) by the Internet and Mobile Association of India (IAMAI). The FCC serves as an advocate for the fintech sector, with a focus on digital lending, P2P lending, insurance, and regtech. Lunia, the co-founder and CEO of Lendingkart, expressed his commitment to shape the future of finance. Meanwhile, Gupta, founder and CEO of Jupiter, emphasized the FCC's work in digital lending, investment, insurtech, and P2P lending.
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With 20M active users, Navi looks to list by FY26; Jupiter to wait longer for IPO
YourStory
·
3m ago
Medial
Fintech firm Navi plans to go public by FY26, having reached 20 million active users. Co-founder Sachin Bansal sees public markets as the best capital source. At Startup Mahakumbh, Bansal discussed IPO readiness alongside industry leaders. Jitendra Gupta indicated Jupiter isn't ready for public markets. Alok Bansal and Vijay Shekhar Sharma, listed company founders, shared post-IPO experiences, noting the demanding nature of maintaining investor interest through numerous meetings.
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Global Fintech Fest 2023: India’s attempt to become world’s fintech thought leader
Money Control
·
1y ago
Medial
The Global Fintech Fest (GFF) in Mumbai saw over 65,000 attendees, a significant increase from the previous year's 25,000, with nearly 300 fintechs, banks, and government departments setting up stalls at the event. More than 100 fintech startups participated, initiating conversations for deals worth over $2 billion with around 300 investors. GFF, organized by the National Payments Corporation of India (NPCI), the Fintech Convergence Council (FCC), and the Payments Council of India (PCI), featured 900 global speakers from around 100 countries and was attended by prominent figures like RBI Governor Shaktikanta Das and Finance Minister Nirmala Sitharaman.
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India appoints former World Bank, IMF economist Poonam Gupta as central bank deputy
VCCircle
·
3m ago
Medial
India appointed Poonam Gupta, former economist at the World Bank and IMF, as the new deputy governor of the Reserve Bank of India for a three-year term. Previously the Director General of the National Council of Applied Economic Research, Gupta will replace Michael Patra and is expected to join the monetary policy committee. Her appointment arrives as India faces economic growth challenges, and the RBI is anticipated to continue easing interest rates to boost growth.
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DLAI rebrands to Unified Fintech Forum as SRO race gets crowded
YourStory
·
3m ago
Medial
The Digital Lenders Association of India (DLAI) has rebranded to the Unified Fintech Forum (UFF) to expand its focus beyond digital lending into the broader fintech ecosystem. This includes new leadership from FlexiLoans' Manish Lunia as President and MobiKwik's Upasana Taku as Vice-President. Now representing 120 members, UFF aims to enhance stakeholder collaboration, regulatory compliance, and responsible innovation, reflecting the growth and responsibilities in India's fintech industry.
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Ex-Paytm COO Bhavesh Gupta joins fintech startup BillCut
VCCircle
·
2m ago
Medial
Bhavesh Gupta, former COO of Paytm, has joined fintech company BillCut as a co-promoter and strategic investor after leaving Paytm for personal reasons. BillCut, founded by Sachin Mandon and others, aims to assist consumers in managing their credit scores and reducing debt. Gupta expressed excitement about joining the venture to revolutionize bill management in India. BillCut, with a valuation of $6.5 million, sees Gupta’s involvement as a significant step forward.
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Advent-controlled Suven Pharma appoints former Piramal exec as chairman
VCCircle
·
10m ago
Medial
Suven Pharmaceuticals, controlled by private equity firm Advent International, has appointed Vivek Sharma as its new executive chairman. Sharma, former CEO of Piramal Pharma Solutions, takes over from Annaswamy Vaidheesh, who will become vice-chair of Suven's Advisory Council. The move comes as Advent plans to merge its pharmaceutical portfolio companies Cohance Lifesciences and Suven to create a diversified contract development and manufacturing organization and active pharmaceutical ingredients leader in India. Advent acquired a majority stake in Suven in December 2022. Suven reported a net profit of INR 300.3 crore ($39.8 million) for the fiscal year 2023-2024, down 27% from the preceding year.
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PhonePe doubles down on financial services; CEOs appointed for lending, insurance and wealth businesses
Money Control
·
1y ago
Medial
Fintech giant PhonePe is focusing on expanding its financial services offerings and has appointed CEOs for its lending, insurance, and broking businesses. Hemant Gupta will head the lending business, Vishal Gupta will lead the insurance business, and Ujjwal Jain will spearhead the wealth and broking business. The company recently entered the stock broking sector with its app, "Share.Market." PhonePe has crossed 500 million registered users and achieved a 77% growth in consolidated revenue for FY23. The company is valued at $12 billion.
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BYJU’S forms advisory council, appoints Mohandas Pai and Rajnish Kumar
Business Today
·
2y ago
Medial
Edtech major BYJU’S has formed a new advisory council. It has appointed former Infosys chief financial officer TV Mohandas Pai and former State Bank of India chairman Rajnish Kumar as its council members. The council will play an important role in mentoring and advising the BYJU’S team including CEO Byju Raveendran, a statement from the company revealed.
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US-India Business Council launches AI task force with Meta as co-chair
Economic Times
·
1y ago
Medial
The US-India Business Council (USIBC) of the United States Chamber of Commerce held its first Artificial Intelligence (AI) Task Force meeting to discuss cross-sector collaboration in AI. Meta has been named the co-chair of the task force, while Infosys, UPS, and BNY Mellon have joined the USIBC's AI Board Advisory Committee. The committee aims to drive collaboration and innovation in the field of AI and unlock the value of the collaboration between the US and India. The meeting brought together industry leaders from various sectors to explore cooperation and synergy in key areas critical to economic competitiveness and national security.
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Finmin appoints SBI Chairman C S Setty, Uday Kotak as governing council members of infrastructure fund
YourStory
·
6m ago
Medial
The Finance Ministry has appointed SBI Chairman C S Setty and Kotak Mahindra Bank director Uday Kotak to the governing council of the National Investment and Infrastructure Fund Trustee Ltd, replacing Dinesh Khara and T V Mohandas Pai. Approved by Finance Minister Nirmala Sitharaman, the council guides investment strategy for the NIIF, a quasi-sovereign wealth fund established to boost infrastructure financing. Other council members include Ajay Seth, M Nagaraju, and Hemendra Kothari.
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