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RBI To Roll Out Mobile App For Retail Investors To Invest In Govt Securities

Inc42 · 1y ago

RBI To Roll Out Mobile App For Retail Investors To Invest In Govt Securities

The Reserve Bank of India (RBI) has announced the launch of a mobile application for retail investors to participate in government securities (G-Secs) market. The RBI Retail Direct Scheme, launched in November 2021, aims to provide convenience to retail investors and deepen the G-Sec market. The mobile app will streamline access to the Retail Direct portal, enhancing convenience and fostering deeper engagement with the G-Secs market. Additionally, the RBI has proposed allowing cash deposits through UPI in cash deposit machines and enabling UPI payments from prepaid payment instruments (PPI) wallets through third-party UPI apps, aiming to increase customer convenience and digital payment adoption.

Related News

RBI launches app to buy/sell govt securities; announces fintech data repository

YourStory

YourStory · 1y ago

RBI launches app to buy/sell govt securities; announces fintech data repository

The Reserve Bank of India has launched three initiatives, including a mobile app that allows retail investors to participate in government securities market. They have also launched the PRAVAAH portal, which enables individuals to apply online for various regulatory approvals, and the Fintech Repository, a data storehouse of Indian fintech firms for regulatory understanding and policy design. The mobile app can be downloaded from Google Play Store and Apple App Store, while the PRAVAAH portal allows users to track and monitor their applications. The RBI encourages fintechs and regulated entities to contribute to the repositories.

RBI Governor Launches Fintech Repository

Inc42 · 1y ago

RBI Governor Launches Fintech Repository

The Indian central bank, Reserve Bank of India (RBI), has announced the establishment of a fintech repository to provide easy access to information on the country's fintech sector and startups. The RBI has also introduced a related repository called EmTech for regulated entities like banks and non-banking financial companies (NBFCs). Additionally, the RBI governor, Shaktikanta Das, unveiled the PRAVAAH portal and the Retail Direct Mobile App during the same announcement.

PhonePe Ventures Into Stock Broking With Share(Dot)Market

Inc42 · 1y ago

PhonePe Ventures Into Stock Broking With Share(Dot)Market

PhonePe, owned by Walmart, has entered the stock broking space with "Share(dot)Market" under its subsidiary PhonePe Wealth Broking. The platform offers stocks (intraday and delivery), mutual funds, ETFs, and WealthBaskets (curated collections of stocks/investment products). It provides market intelligence, quantitative research-based WealthBaskets, and a scalable technology platform. Available as a mobile app and web platform, Share(dot)Market allows retail investors to buy stocks, conduct intra-trades, and invest in curated WealthBaskets and mutual funds.

Cred launches offline QR code-based ‘scan and pay’ payments

Economic Times

Economic Times · 1y ago

Cred launches offline QR code-based ‘scan and pay’ payments

Fintech unicorn Cred has introduced offline retail payments at large format stores after completing successful pilots. The company aims to roll out the solution at select merchant outlets throughout the year. The app allows customers to scan QR codes and make payments at premium retail outlets, such as supermarkets and restaurants. Additionally, Cred offers rewards for every payment transaction, which can be offset against credit card bills. The new terminals powered by Razorpay POS and Pine Labs enable merchants to provide personalized rewards and accept payments via UPI.

RBI accepts bids worth Rs 9,296 crore in switch auction

Economic Times

Economic Times · 29d ago

RBI accepts bids worth Rs 9,296 crore in switch auction

In a government switch auction, the Reserve Bank of India (RBI) accepted ₹9,296 crore out of a notified ₹25,000 crore, as the yields desired by market participants were likely higher than the RBI's acceptable levels. Initially, the RBI planned to exchange nine securities maturing in the fiscal year 2027 with securities maturing beyond fiscal year 2032. Switch auctions involve the RBI swapping existing securities with bonds maturing at a later date.

Vodafone Idea expects full subscription to ₹18,000-crore FPO

Livemint

Livemint · 1y ago

Vodafone Idea expects full subscription to ₹18,000-crore FPO

Vodafone Idea is expecting strong subscription for its ₹18,000-crore follow-on public offer (FPO), with anchor investors fully subscribing to the shares. The telecom carrier has begun its roadshow for individual investors and is confident of good interest from retail and high-net-worth investors. Vodafone Idea plans to roll out 5G services in six to nine months following the FPO and will expedite equipment orders with vendors. The company remains the only private firm in India without 5G services and is focused on prioritising 17 circles that account for 98% of its revenue.

YouTube 'Dream Screen' tool to soon let AI create videos for Shorts

Economic Times

Economic Times · 1y ago

YouTube 'Dream Screen' tool to soon let AI create videos for Shorts

YouTube has announced a new feature for its short-video making platform, Shorts. The feature, called 'Dream Screen,' will leverage AI tools to allow users to create AI-generated video or image backgrounds simply by typing in what they want to see. This experimental feature is set to roll out early next year and aims to make it easier for creators to join Shorts. YouTube also introduced a new mobile app called YouTube Create, which enables users to make Shorts or longer videos, edit, add captions, and more directly from their mobile phones. Additionally, an AI-powered dubbing tool is being developed to help creators expand their content's reach globally.

RBI Proposes Direct UPI Payments From PPI Wallets

Inc42 · 1y ago

RBI Proposes Direct UPI Payments From PPI Wallets

The Reserve Bank of India (RBI) has proposed allowing the linking of prepaid payment instruments (PPIs) like digital wallets through third-party Unified Payments Interface (UPI) applications. This move aims to provide more flexibility to PPI holders and benefit fintech startups such as Paytm, PhonePe, Freecharge, and MobiKwik. Additionally, the RBI has proposed enabling cash deposit facility through the use of UPI and allowing non-bank payment system operators to offer central bank digital currency (CBDC) wallets. The central bank also announced plans for a dedicated platform for retail investors to participate in government securities market.

Protectt.ai raises Rs 76 Cr in Series A round led by Bessemer

Entrackr

Entrackr · 4m ago

Protectt.ai raises Rs 76 Cr in Series A round led by Bessemer

Protectt.ai, a mobile app cybersecurity and fraud control platform, has raised Rs 76 crore (around $8.7 million) in its Series A funding round led by Bessemer Venture Partners. The proceeds will be used to enhance the AI-driven mobile app security solution platform, accelerate product innovation, build new solutions for AI Security, and support its global expansion initiatives in the US, Middle East & APAC. Founded by Manish Mimani and Mohanraj Selvaraj, Protectt.ai offers a suite of mobile app security solutions, designed to safeguard mobile apps from emerging cyber threats and frauds. It also serves as a global compliance hub for mobile app owners who need to comply with regulations from entities such as RBI, SEBI, NPCI, and other regulatory bodies. Its mobile app XDR Platform offers advanced protection against evolving cyber threats, fraud, and malicious attacks, ensuring the security of mobile businesses and users worldwide. Protectt.ai claims to have covered over 300 million smartphones, processing approximately 2 billion mobile app sessions every month while preventing 200 million cyber threats and fraud events monthly.

RBI likely to start digital rupee pilot in call money market by October

Economic Times

Economic Times · 1y ago

RBI likely to start digital rupee pilot in call money market by October

The Reserve Bank of India (RBI) is set to launch a pilot for its Central Bank Digital Currency (CBDC) in the call money market by October, according to RBI Executive Director Ajay Kumar Choudhary. The wholesale CBDC, known as Digital Rupee-Wholesale (e-W), had its pilot initiated in November 2022, primarily for settling secondary market transactions in government securities. Nine banks were chosen for the pilot project for wholesale CBDC, and the RBI had already launched a pilot for the retail version of CBDC (e-R) on December 1, 2022.

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