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News on Medial
Indian finance Ministry to meet fintech startup CEOs next week; Here's why
IndianStartupNews
·
1y ago
Medial
The Finance Ministry of India is set to hold a meeting with CEOs of fintech startups to discuss regulatory compliance. The government aims to strike a balance between fostering innovation in the fintech space and ensuring that companies adhere to essential regulations. Senior officials from the RBI, Finance Ministry, and Department for Promotion of Industry and Internal Trade are expected to attend. The meeting comes at a critical time as Paytm, a leading fintech company, faces regulatory challenges and RBI action over failure to meet compliance standards. Paytm has since transferred its nodal account to Axis Bank to ensure continued operations.
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Related News
Finance ministry to meet fintech startups next week: Report
Money Control
·
1y ago
Medial
The Indian finance ministry is set to meet with fintech startups next week to discuss compliance with regulations and address any concerns they may have. This comes in the aftermath of the Paytm Payments Bank crisis, where the Reserve Bank of India instructed the banking unit to cease operations due to non-compliance and supervisory concerns. The ministry aims to engage with fintech companies and ensure they adhere to the required guidelines.
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Finance Ministry to meet fintech CXOs next week to alleviate concerns
VCCircle
·
1y ago
Medial
India's finance ministry is set to meet with fintech startups in an effort to ensure regulatory compliance and address any concerns. The meetings come after the recent Paytm Payments Bank crisis, where the Reserve Bank of India ordered the banking unit to shut down due to non-compliance issues. The ministry aims to proactively engage with fintech startups to prevent similar incidents and foster a conducive environment for the growth of the sector.
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FM Nirmala Sitharaman To Meet Fintech Heads Amid Paytm Payments Bank Crisis
Inc42
·
1y ago
Medial
Finance Minister Nirmala Sitharaman is set to meet with heads of fintech startups on February 26 to address concerns and reassure the sector that it remains a priority for the government. The meeting will also be attended by a deputy governor of the Reserve Bank of India (RBI) and officials from the Ministry of Finance, Ministry of Information Technology, and Department for Promotion of Industry and Internal Trade (DPIIT). The RBI recently imposed restrictions on Paytm Payments Bank for non-compliance, prompting entrepreneurs to call for a review of the regulatory action. The RBI has since extended the deadline for the business restrictions.
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Budget 2025: Fintechs pitch for dedicated Rs 1,000 crore fund
Economic Times
·
6m ago
Medial
Facing rising capital costs and funding challenges, Indian fintech companies are asking the finance ministry for a dedicated ₹1,000 crore fintech fund. The Digital Lenders Association of India (DLAI) proposed this to support small- and mid-sized fintechs struggling for survival. They advocate for positive policy messaging to boost industry confidence, amid declining investments and regulatory concerns. The Indian fintech sector faced a 33% funding drop in 2024 due to broader economic issues and regulatory caution.
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FM Nirmala Sitharaman asks RBI, fintechs to hold monthly meetings in wake of Paytm crisis
Economic Times
·
1y ago
Medial
Finance Minister Nirmala Sitharaman has called for monthly meetings between regulators and startups and fintech firms to address their concerns and ensure regulatory compliance. This comes in the wake of actions taken by the Reserve Bank of India against Paytm Payments Bank. The finance ministry outlined action points including simplifying KYC processes, addressing cybercrime concerns, and reviewing ownership changes in fintech companies. Sitharaman also reassured the industry that the government prioritizes the health of the startup and fintech ecosystem. Vijay Shekhar Sharma, chairman and board member of Paytm Payments Bank, resigned on the same day.
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Why Sachin Bansal can’t resist building tech in-house to boost Navi's fortunes
Livemint
·
1y ago
Medial
Sachin Bansal, co-founder of Flipkart, is building Navi Technologies, a fintech startup, with a focus on providing finance solutions to the masses and small businesses in India. Bansal is opting to build most of Navi's technology stack in-house, including large language models, chatbots, and lending management systems. By leveraging technology and developing their own platforms, Navi aims to reduce costs and create new ways of delivering financial services. With the Indian fintech sector growing rapidly, Navi is positioning itself to tap into this opportunity. Navi has also acquired several companies and is planning to go public in the near future.
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Muthoot Finance shares slip 14% in two sessions, here's why
Business Today
·
3m ago
Medial
Muthoot Finance shares dropped 14% over two sessions, hitting an intra-day low of Rs 1964.35, from a previous close of Rs 2140.30 on the BSE. This decline is due to anticipated RBI guidelines for gold loans. The new regulations are expected to affect other gold financing entities like Manappuram Finance and IIFL Finance. RBI Governor Sanjay Malhotra announced forthcoming comprehensive draft guidelines to harmonize regulations for loans secured by gold jewellery.
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Mark Zuckerberg's awkwardness may be a power move — here's why
Business Insider
·
1y ago
Medial
Mark Zuckerberg, CEO of Meta, has gained a reputation for being awkward. A recent viral video showed him appearing uncomfortable at a UFC event, leading to memes and mockery. However, some argue that this awkwardness can be seen as a "power move" for tech CEOs, suggesting that it is a marker of intelligence and non-conformity to social norms. Awkward individuals are often highly focused and can excel in their chosen fields. However, this label may not be as advantageous for women in positions of power, who are often expected to prioritize the comfort and smooth running of social interactions.
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Why Infosys and HCLTech have the longest running CEOs
Livemint
·
11m ago
Medial
C. Vijayakumar of HCL Technologies and Salil Parekh of Infosys have become the second-longest running CEOs among the top five Indian IT services companies. TCS, Wipro, and Tech Mahindra have all seen leadership changes in the last two years, while Parekh and Vijayakumar have held their positions for over six and eight years, respectively. Both CEOs have brought stability and growth to their companies, with HCLTech experiencing higher growth rates compared to its peers. However, both face challenges in declining profitability.
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Expat exits: Why foreign-born CEOs don’t last the distance in Indian IT firms
Livemint
·
1y ago
Medial
Thierry Delaporte's departure as Wipro CEO follows a string of challenges for the company, including slower revenue growth and the loss of key leaders. His tenure saw mixed results, with some notable deals but an overall struggle to turn the company around. Expat CEOs in the Indian IT industry have faced difficulties, particularly in navigating cultural differences between employees and clients. Going forward, there may be more caution in hiring expat CEOs, with boards potentially favoring Indian candidates with global experience.
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