Thursday, February 6

Author: Ankit

Meet Ankit, the expert voice behind NewNerve. With a deep understanding of the financial sector and a passion for sharing knowledge, Ankit delivers informative and timely updates on latest trends and developments in the BFSI world. Whether you're a seasoned professional or simply interested in keeping up with the latest news, our insightful blogs are a must read. Stay informed and Stay ahead!
Revolutionary Ways Small Business Loans Are Shattering Gender Barriers for Women Entrepreneurs in 2024
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Lending, Finance, Fintech, Microfinance

Revolutionary Ways Small Business Loans Are Shattering Gender Barriers for Women Entrepreneurs in 2024

The Role of Small Business Loans: In an effort to combat gender biases in entrepreneurship, financial institutions are increasingly focusing on empowering women-led SMEs through small business loans. Despite the growth of India’s economy and the significant contribution of MSMEs to the GDP, women-led businesses still face substantial challenges in obtaining credit financing. Recent studies highlight a stark gender disparity within India’s entrepreneurial landscape, attributed to socio-cultural norms, access to credit, and family responsibilities. However, women entrepreneurs remain optimistic about their business growth and recovery. Also Read: RBI’s Risk Weight Hike: Implications for Incremental Bank Lending to NBFCsGovernment initiatives like Mudra Yojana and the Women Entrepre...
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RBI Proposes UPI-Based Cash Deposit Facility: No ATM Card Needed
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Fintech, Payments

RBI Proposes UPI-Based Cash Deposit Facility: No ATM Card Needed

The Reserve Bank of India (RBI) has taken a significant leap forward by announcing a UPI-based cash deposit facility that eliminates the need for ATM cards when depositing cash. This move aims to enhance customer convenience and streamline the currency handling process at banks. Key Details of UPI-based Facility: UPI-based Convenience: The Unified Payments Interface (UPI) has gained immense popularity in India due to its convenience, speed, and interoperability. It simplifies fund transfers between bank accounts on a mobile platform without requiring traditional banking details such as account numbers and IFSC codes. Cash Deposit Machines (CDMs): These are ATMs that allow direct cash deposits into bank accounts. With the new proposal, individuals can use their UPI instead of needi...
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Revolutionizing Digital Payments: RBI’s New Rule on UPI Payments from PPI Wallets via Third-Party Apps and the Impact on Payment Service Providers
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Banking, Fintech, Payments

Revolutionizing Digital Payments: RBI’s New Rule on UPI Payments from PPI Wallets via Third-Party Apps and the Impact on Payment Service Providers

A Boost for Paytm and Digital Payments? The Reserve Bank of India (RBI) has recently proposed a new policy that will allow Prepaid Payment Instruments (PPIs) to be linked through third-party UPI applications, enabling PPI wallet holders to make UPI payments more conveniently. This move is expected to enhance customer convenience and boost the adoption of digital payments for small value transactions. Currently, UPI payments from bank accounts can be made using a bank's UPI application or any third-party UPI application. However, PPI wallet holders can only make UPI transactions using the web or mobile application provided by the PPI issuer. By permitting the linking of PPIs through third-party UPI applications, the RBI aims to provide more flexibility to PPI wallet holders in...
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Paytm-Backed Pai Platforms Introduces PaiPai Shopping App on ONDC, 2024
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Fintech, Payments

Paytm-Backed Pai Platforms Introduces PaiPai Shopping App on ONDC, 2024

Pai Platforms, a company backed by Paytm founder Vijay Shekhar Sharma, has recently launched a shopping app on the Open Network for Digital Commerce (ONDC). The app, named “PaiPai,” aims to provide a seamless shopping experience for users. Here are the key points about this development: ONDC Focus: The government-backed ONDC has become an important focus area for Paytm. The company sees it as the next big opportunity in the e-commerce space. Separation of Businesses from Paytm: Paytm has taken steps to clearly separate its fintech and e-commerce businesses. While Paytm does not own any shares in Pai Platforms, the ‘PaiPai’ app has been developed by the fintech major’s parent entity, One97 Communications. Merchant Sign-Ups: Vijay Shekhar Sharma stated,...
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Zomato-Backed Startup Magicpin: Co-Founder Brij Bhushan’s Exit and What It Means
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Startups, Technology

Zomato-Backed Startup Magicpin: Co-Founder Brij Bhushan’s Exit and What It Means

In a significant development, Magicpin, the hyperlocal e-commerce startup backed by Zomato, bids farewell to one of its co-founders. Brij Bhushan, who co-founded Magicpin in 2015 alongside Anshoo Sharma, recently announced his decision to step away from the company. As a journalist, let’s delve into the details of this departure and its implications. The Rollercoaster Journey Bhushan’s LinkedIn post reveals a nine-year journey filled with highs and lows. He describes it as a “rollercoaster,” emphasizing growth, challenges, and profound learnings. Now, he believes it’s time to take a step back, leaving Magicpin in capable hands. Magicpin’s Resilience Amidst Adversity Covid-19 Resilience: When the pandemic threatened Magicpin’s existence, the team fought back. T...
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OpenStack 29: Accelerating Innovation in AI with Advanced Features
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AI, Startups, Technology

OpenStack 29: Accelerating Innovation in AI with Advanced Features

OpenStack, the leading open-source cloud infrastructure platform, has unveiled its latest release, version 29, aptly named 'Caracal.' This update brings significant improvements to support artificial intelligence (AI) and high-performance computing (HPC) workloads, further solidifying OpenStack's position as a comprehensive alternative to proprietary offerings like VMware. With enterprises increasingly focusing on deploying AI models while maintaining control over their data, OpenStack's latest features cater to the evolving needs of large-scale organizations. Empowering Enterprises in the AI Era: As the world stands at the brink of a multi-trillion dollar investment wave in data center infrastructure, OpenStack emerges as a vital software layer for managing private deployments. While la...
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BlaBlaCar Accelerates: Profitability Milestone and $108 Million Debt Line
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Startups

BlaBlaCar Accelerates: Profitability Milestone and $108 Million Debt Line

BlaBlaCar, the popular carpooling platform, has achieved a significant milestone by securing a $108 million debt line. This comes after the company reached profitability, signaling its financial stability and growth trajectory. The debt financing will likely fuel BlaBlaCar’s expansion plans, enhance its services, and further solidify its position in the ride-sharing market. As the platform continues to connect travelers and drivers, this funding injection could lead to exciting developments for both users and investors. Also Read: Navi’s 90-10 Rule: Scaling Up Despite RBI’s Unsecured Loan Norms BlaBlaCar’s Background and Unique Trajectory BlaBlaCar, an iconic name in the French startup ecosystem, has been on a remarkable journey. What began as a carpooling and bus tic...
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Navi’s 90-10 Rule: Scaling Up Despite RBI’s Unsecured Loan Norms
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NBFC, Digital Lending, Fintech, Startups

Navi’s 90-10 Rule: Scaling Up Despite RBI’s Unsecured Loan Norms

Navi Technologies Scaling Up Despite RBI’s Unsecured Loan Norms In an exclusive interview with Moneycontrol, Navi Technologies founder and chairman Sachin Bansal revealed that despite the recent tightening of risk weight for unsecured loans by the Reserve Bank of India (RBI), the company has been scaling well. Navi Finserv, a fintech company, is currently offering its third non-convertible debentures (NCDs) with an issue size of Rs 600 crore. Notably, around 90 percentof Navi’s portfolio consists of unsecured loans, such as personal loans, while the remaining 10 percent comes from home loans. Also Read:Microfinance Sector Witnesses Robust Growth: Loan Accounts Surge 9% and NBFC Disbursements Soar 32% What’s particularly interesting is that two-thirdsof Navi Technologies’ cus...
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Microfinance Sector Witnesses Robust Growth: Loan Accounts Surge 9% and NBFC Disbursements Soar 32%
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BFSI, Digital Lending, Lending, NBFC

Microfinance Sector Witnesses Robust Growth: Loan Accounts Surge 9% and NBFC Disbursements Soar 32%

The microfinance sector in India is experiencing a remarkable surge in loan accounts, with significant growth indicators across various metrics. Let’s delve into the latest developments: Loan Accounts Reach New Heights As of December 31, 2023, the number of microfinance loan accounts serviced by micro lenders has witnessed a 9% year-on-year increase, totaling an impressive 140.8 million accounts. This surge reflects the growing demand for microfinance services, especially among underserved communities. Diversified NBFCs Lead the Way Notably, diversified non-banking financial companies (NBFCs) have played a pivotal role in driving this growth. Their microfinance disbursements surged by an astounding 32% year-on-year during the December quarter, marking the highes...
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From Crisis to Control: India’s Post-Pandemic Stimulus Earns Praise for Inflation Management, 2024
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Economics, Finance

From Crisis to Control: India’s Post-Pandemic Stimulus Earns Praise for Inflation Management, 2024

In the wake of the global pandemic, India's fiscal stimulus measures have been hailed as well-managed and effective, according to a recent study conducted by the Reserve Bank of India (RBI). The study reveals that India's post-pandemic fiscal stimulus had a minimal impact on inflation compared to other major economies around the world. These findings highlight the prudent and strategic approach taken by the Indian government and the Reserve Bank of India in mitigating the negative effects of the pandemic. Study Highlights: The RBI study analyzed the impact of pandemic-induced fiscal expansions on inflation in both advanced economies and emerging market economies. It considered supply-side factors and found that countries with larger fiscal stimulus measures experienced higher post-pa...
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