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Posts Tagged ‘ Reserve Bank of India ’

Paytm to merge wallet business with payments bank

Monday, December 5, 2016 | More »

PAYTM_Ankit_fe
One97 Communications Ltd, the owner of digital wallet Paytm, said on Monday it will merge its wallet business with its upcoming payments bank to comply with Reserve Bank of India’s directions. The digital wallet will be transferred after the company gets necessary regulatory approval to start Payt...

RBI

RBI eases norms for foreign investment in startups

The Reserve Bank of India (RBI) has allowed Foreign Venture Capital Investors (FVCIs) registered with the Securities and Exchange Board of India (SEBI), the capital markets regulator, to invest in Indian startups without any prior permission from the central bank. The RBI allowed such SEBI-registere...

21 October, 2016 | More »

RBI

Startups can raise up to $3 mn from foreign lenders, new norms for pre-paid instruments: RBI

The Reserve Bank of India (RBI) will allow startups to raise up to $3 million (Rs 20 crore), everyfinancial year from overseas, it said on Tuesday. The RBI said that startupswill be allowed to raise External Commercial Borrowings (ECBs) in equivalentIndian rupees, any other convertible currency or a...

4 October, 2016 | More »

mobikwik-(1)

MobiKwik scraps 6% annual profit scheme

Mobile wallet MobiKwik has scrapped a scheme that promised a so-called annual profit to its users after regulatory intervention, less than a week after announcing the offer. Gurgaon-based One MobiKwik Systems Pvt Ltd had only last week announced a plan to offer 6% annual profit to users who maintain...

7 June, 2016 | More »

RBI

RBI proposes rules to regulate P2P lending

The Reserve Bank of India on Wednesday proposed to define peer-to-peer lending ventures as non-banking finance companies and prescribed minimum capital requirements for such startups to regulate the nascent but fast-growing segment. The development comes at a time when a number of startups have spru...

28 April, 2016 | More »

Raghuram-Rajan

RBI governor Rajan favours easier exit norms for startups

With concerns being raised about cash-burn in burgeoning e-commerce sector, RBI Raghuram Rajan today made it clear that getting revenues through deep discounting is not a viable business model for startups. “If the only reason you are getting revenues, not profit, is because you are selling ba...

26 April, 2016 | More »

RBI

Concept paper to regulate P2P lending startups by April-end: RBI

The Reserve Bank of India will seek public comments to regulate the peer-to-peer lending business after a number of startups sprung up that connect individual borrowers or small businesses with lenders through a digital platform. “P2P lending has shown accelerated growth over the last one year. Wh...

5 April, 2016 | More »